5e687f94Accommodated withdrawals
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It is a sad commentary on the residents of Harlem, N. Y., that they should for two days make a run on a bank that has so sound a record. and is so highly vouched for as the Harlem Savings Bank. It seems as If the land once in possession of the famous goats had now R. less intelligent population than when the goats predominated. Goats are never ranked either as very intelligent animals.
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It is a singular fact that bank runs are, almost without exception, started without cause. A few days ago, through the circulation of reports that were utterly without foundation, a run was started on the Harlem Savings bank. When the doors were opened in the morning, more than 250 depositors had gathered to draw out their money. The only explanation that could be found was that some person had maliciously started a story to the effect that the bank was unsafe. As a matter of fact, the bank is among the soundest in the United States, and was not embarrassed in the least to pay all depositors who called. Now the people have discovered that they had no ground for their fears and are taking back their cash. It so happened that the run was stated just before interest time, SO that all depositors who drew their money lost the interest. This aggegated a considerable sum, and the net result of the run is some inconvenience to the bank. and a cash loss to the depositors through their own folly.