16093. M. & L. Jarmulowsky (New York, NY)

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HAS AMUSING BUT FEATURES BANKING ON THE DENSELY POPULATED EAST SIDE IS A SERIOUS BUSINESS, before they Insisted on taking their Into the tenement to see the account as they heat it. A SHOWY BANK BUILDING. He verified every item and did all subtraction over several times. lie could find no and with the protest that they were DOING BUSINESS ON THE EAST SIDEhim paid the amount they asked. HOW ITALIAN "BANCAS" OPERATE. Italian bank failures are not so numerous as Fronting on Seward Square, which is rapidly one might suppose, in view of the becoming the financial and business centre of trol under which the banks operate. It the Jewish quarter on the East Side, there is a be easy for the banker to tupa over his building the like of which, probably, is to be and take advantage of the liberal bankrupt y found in no other city in the world. It looks like laws. In no way could the law touch have E skyscraper, because the surrounding builderal Italians have tried it from time to ings are not particularly high. But such a skycome off scot free, so far as the K 01 M seraper! were concerned. If the Sultan of Morocco should ever take it There is a higher law for this it into his head to have a high building in Algiers of robbery of the poor-the law of revenues it could be modelled after this new and wonand such a revenge as only the Mary drous East Side structure. The taste of the how to execute is that who h keeps most asthetic Moor would not be offended. It is who would be a raseal within bounds a glaring, glittering monument to the banking Bankers become involved every house of M. & L. Jarmulowsky, a miracle of and try to get out at the expense of those white enamel, gold paint, of Oriental balconies trusted them. Luigi Troja, the boss of brass, and it is surmounted by a dazzling and banker of Little Italy, was one of the tower. from which the flag of any Sultan might He ran off to Italy, leaving his wife to sattle fly with propriety. STATE with the creditors at from 30 to 40 centers the HARTERED A Hebrew and a dark eyed Italian from the dollar. He returned after a time to New book, Mulberry Bend quarter sat on the railing of the but wherever he went the fear of assassing dry fountain at the nearest park corner and was in his heart. gazed admiringly at the wonderful new bank. "You cheated me and may mother I sha: 'There ain't no Dago bank that's half as fine revenge in the night. Death Beware S as that," said the Hebrew. one of the many threats which came to have No, but you Yids ain't got half so many bloody scrawl. banks as we," retorted the other. He armed himself against it. but in He There couldn't never be any run on that of was found dead one morning in his bank," declared the Hebrew. "It looks too safe. business in East Nitetyseventh-st the They mightn't have a cent, but as long as they at the hands of an assassin No don't get turned out of the building the people murderer has FOR found. and the Price would never suspicion It." have long Since ceased to work on the ease. Dealing with a class of people to whom exterViolation of the national banking law ever nal evidence of wealth and prosperity appeal to holds out no such Isnality as this 1 surprising degree, the old banking house of Th Hebrew banks are smaller in numb and Jarmulowsky played a master stroke in putting few of them have failed As a people they are UP this amazing building. The boys of the too cautious to trust there savings 111 but a quarter recognize it, and they reflect the feelings the safest hands The Heleow basker the fathers. Many bank accounts have rule intends to conduct his business changed their homes since the "palace of H has not the same fear of assassination in finance." as the owners call it, was opened. casto failure as has his Italian brother The Hung in a most conspieuous place over the Hebrew bugbear is the Year of it 51.00 ⑉ the NOT A MOORISH MOSQUE main entrance is the charter from the Banking bank Commissioner of the State of New-York, under But Jarmulowsky's new East Side bank building The Jamelowsky firm lived through which the bank is now operating. It was only extended run a fell years age. How 11 with a struggle that the bankers kept from The knew, and that is usually the marking the deposits on the whitewashed wall Italian. seeing the stamps on sale. takes it to labelling it with a sign like this: depositors suddenly swarthed down of the living room. The length of the column mean that his banker is bar ked by the United This charter cost a whole hundred thousand They wanted the mane Why? grew as their driblets were handed over to the States Government. dollars." to have a reason The bankers the banker. Once in a while there were little withItalian banks claim their patrons at the BatThey have to put up that amount of security funds or got with amounted : drawals, and the impoverished bankbook suftery, even if they have not gone still further until the Banking Commissioner is satisfied of sati thing For three fored subtractions painfully made by the adid and influenced the new arrival's immigration. the ir solvency. This puts them out of the ranks child. who had already advanced that far in start stream of withdrawals and still they The banker-padrone gets the immigrant his first of the ordinary East Side banker, who worries public school arithmetic. Finally it was new smiled Then it bank and the job with some sub-contractor, and as long as Long without any sanction from the State or firm The depositors lost sary to withdraw the whole amount, as possible collects his wages. keeping out a liberal any other power. hundr is of and the firm family contemplated a change of residence. percentage. He is urged to deposit any surplus gained The It was a necessary move, made so by the "I want my $27." said the head of the house over living expenses, and the banker keeps the in Fast Broadway is a result of Action of large banking houses in all parts of in italian after he had bowed meekly to the accounts. continued prosperity. the Jewish boy banker. the city. These have lately discovered that said the other day the park would Some of the banks issue little passbooks which indeed hard to start run against a bank there is a profitable banking business among the "Twenty-seven nothing!" exclaimed the are like the account books of a country grocery which had such an imposing home. banker. waving his hands. "You have only $20 dereceipts for East Side merchants. Like those in other parts