a891aefcAccommodated withdrawals, Partial suspension
Click image to open full size in new tab
Run on Bridgeport Bank. Bridgeport, Oct 31.-The big foreign element in this city having deposits in the Farmers' and Mechanics' Savings bank and the City Savings bank started a run on those two banks to-day. which continued all day and a great amount of savings was paid out. It is believed the shutting down of many large factories in this city several days and the excitement in New York financial circles prompted the depositors to take out their money.
Click image to open full size in new tab
Five Decide to Take Advantage of the Ninety Day Clause in Charters. OVER $100 WILL REQUIRE NOTICE Institutions Perfectly Sound, But it is Impossible to Get Money from New York. Bridgeport, Oct. 31.-The first excitement in this city as the result of a financial unheaval in New York and other places about the country occurred to-day when runs were started on the Mechanics' and Farmers' Savings bank and the City Savings bank, the run starting in the morning and continuing all day. Probably* all those who withdrew their deposits were foreigners who doubtless became frightened as a result of the unsettled condition of affairs in New York and whose alarm grew when it was announced to-day that the American Graphophone company would shut down two days of each week from now on, the shut down to take effect each week. Other large factories which employ a large element of foreign help, have announced their intention of closing certain days of the week, and it is thought that these announcements were the means of stirring up fear among that class of people who are not absolutely familiar with the real situation. It was stated at the two banks that while both institutions were heavily taxed as the result of the determination of their depositors to withdraw their savings, they experienced no great inconvenience. They accepted aid from outside banks, however, a great deal of money being paid over to the two savings banks. Bank officials representing the Bridgeport Savings bank, the City Savings bank, the People's Savings bank and the Mechanics' and Farmers' Savings bank, met this afternoon and voted, in view of the situation creation by the runs on two of the banks to-day, the City bank and the Mechanics' and Farmers', to take advantage of the clause in their charters allowing them to require ninety days' notice from any depositors wishing to draw more than $100 of his deposit from the bank. It is stated that while the institutions are perfectly solvent it is impossible to get currency from New York sufficient to meet the demands.
Click image to open full size in new tab
Bank Run Started. Bridgeport. Conn., Oct. 31.-Many persons of foreign birth, who live and work in this city and have deposits in the Mechanics' and Farmers Bank and City Savings Bank, started a run on these two banks today. It is believed that the shutting down of many large factories in the city several days of the week, and the excitement in New York, prompted the depositors to take out their money. Unless the run of the savings banks is continued with great zeal, neither bank. it was stated this afternoon, would take advantage of the ninetyday clause.
Click image to open full size in new tab
Foreigners Alarmed. Bridgeport, Conn., Oct. 31.-Many foreigner depositors in the Farmer's and Mechanics' Savings bank and the City Savings bank started a run on those two banks today. Neither will require the ninety-day notice unless the runs continue.
Click image to open full size in new tab
Bridgeport. Conn., October 31.-Many persons of foreign birth, who live and work in this city and have deposits in the Mechanics' and Farmers' bank and City Savings bank, started a run on these two banks today. It is believed that the shutting down of many large factories in the city several days of the week and the excitement in New York prompted the depositors to take out their money. Unless the run on the savings bank is continued with great zeal neither bank, it was stated this afternoon would take advantage of the 90-day clause.
Click image to open full size in new tab
Bridgeport, Conn., Nov. 1.-Four savings banks of this city to-day put into effect the clouse which requires depositors to give ninety days' notice on the withdrawal of their funds from the institutions. This action was taken as a result of runs on two banks yesterday, in which about $100,000 was withdrawn in small amounts, the withdrawals being made in the most part by foreigners. The banks to put the clause into effect are the City Savings Bank, the Bridgeport Savings Bank, the People's Savings Bank and the Mechanics and Farmers' Savings Bank. The situation here to-day is calm.
Click image to open full size in new tab
CONNECTICUT The Connecticut society is sending out invitations to all former residents of the Nutmeg state to attend the next meeting, which will be held Tuesday evening, November 12, in the assembly hall of the chamber of commerce. The program committee has arranged an interesting evening's entertainment, consisting of music, singing and recitations. B. S. Smith, president of the society, is scheduled to read a little story of his early life. All who attend are assured of a pleasant time. About the only thing that seems to be lacking will be the absence of the famous Moodus and Essex fife and drum corps. BRIDGEPORT-Runs were started on the Mechanics and Farmers Savings bank and the City Savings bank, the runs starting in the morning and continuing all day. Practically all those who withdrew their deposits were foreigners. TERRYVILLE-C. Hobart Smith, one of Plymouth's most respected citizens, died suddenly here of heart failure. GREENWICH-Robert M. Bruce, president of the Greenwich Savings bank, a philanthropist, who has done much for this town, is seriously ill, although he showed improvement today. WINSTED-Judge William S. Case today granted five divorces as follows: Phoebe I. Dickenson of Roxbury from Henry H. Dickenson of Mt. Kisco, N. Y., desertion; Charles A. Parcells of Bantam from Fannie I. Parcells, adultery; William L. Nash of Winchester from Catherine Nash of New Haven, desertion; Elizabeth Miville of Winsted from Michael Miville of South Norwalk, desertion; W. Birden of Torrington from Ellen A. Birden of Harwinton.