4397640dAccommodated withdrawals, Capital injected
Other: State police/state bank examiner investigated and arrested a man accused of spreading false reports.
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RUN ON BANK ENDS Willimantic Sept. 23 (P)-The run on the savings department of the Willimantic Trust Co. which began for some unaccountable reason on Monday was over today. There were no withdrawals between 11 and 1 o'clock today and the demands for deposits in the morning were light. Many depositors who had withdrawn money redeposited it.
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RUN ON BANK STOPS WILLIMANTIC Conn., Sept. 23 The run on the savings department of the Willimantic Trust Company, which began yesterday. was not continued today. Considerable money was redeposited Officials attempting to learn the source of the stories that started the run.
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DEPOSITORS STOP RUN ON WILLIMANTIC BANK The run on the Willimantic Trust Company, which started at the close of banking hours Monday, was believed at the close of banking hours yesterday by Treasurer Herbert W. Huber and the directors of the bank to have petered out. The number of depositors drawing out funds during the forenoon had greatly fallen off, and yesterday afternoon conditions apparently were back to normal. A number of depositors who withdrew funds redeposited their savings in the bank Unlimited assistance to the bank to meet any frantic run was received. two Hartford banks sending unsolicited deposits totaling $110,000. The bank officlals have an investigation under way as to the person or persons who fomented the rumors that started the run on the bank. Close to $40,000 was withdrawn during the run. Mrs. Nathan A. Griffin, 65, is dead in her home at Thompsonville Conn. She had lived in that town about 10 years.
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WILLIMANTIC MAN IS UNDER ARREST Accused of Starting Run on Trust Company Willimantic, Conn., Sept. 26 (/P) Herbert O. Ladd, 34, a carpenter, was arrested last night by State officers and in police court today he was charged with having made "derogatory statements" as to the condition and affairs of the Willimantic Trust Co. The arrest is a sequel to a run on the savings department on Monday and Tuesday of this week, influenced, it was stated at the time by the directors and officers, by false reports as to the solvency of the institution. Ladd through his counsel, Samuel B. Harvey asked for a week's continuance which was granted and a bond of $1,000 was provided by his father, Edward Ladd. The arrest is said to have been brought about by the state bank examiner on the basis of an inquiry started by the bank officers upon recurrence of reports that the bank was in distress. Like reports were circulated in August but these did not trouble the bank. Early this week depositors headed mostly by employes of the Rossia Velvet Co., drew out something like $25,000. The run was over on Tuesday afternoon and business is now normal. Ladd had been employed by the contractor who was making an addition to the Rossia mills.
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Man Charged with Starting Bank Run Carpenter Held on Complaint of Willimantic (Conn.) Trust Company. WILLIMANTIC Conn., Sept. 26Charged making derogatory statements which resulted in short run on Willimantie Trust Company Monday Tuesday. when withdrawn by decarpenter. night an brought court with Ladd in bonds of $3000 further The bank the Monday that run on the bank had been instigated by person was the first one to withdraw his account. that employed the Rossie Velvet Mills here, where Ladd has been employed penter on addition. and investigasaid brought to light that Ladd had advised workers at the mill accounts. on the for withdrawals company Among he directors Don Curtiss American Thread Comit of and Curtiss by adding to the run on bank
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EVIDENCE AGAINST LADD INSUFFICIENT Witnesses Unable to Accuse Him of Responsibility For Run on Bank. (Special to The Courant) Oct. None of the witnesses against Herbert O: Ladd, carpenter, charged with making derogatory statements about the financial condition of the Willimantic Trust Company which ultimately led to on the able definitely to point to Ladd ae the man responsible, in city court today. Ladd had pleaded not guilty Asking for dismissal of the case, Defense Lawyer Samuel Harvey opposed efforts Attorney Harry Gaucher to nolle the case on the grounds of weak and in sufficient evidence Judge Foss then closed proceedings by continuing the case October at ime, if more evidence against the defendant not forthcoming, the case will be discharged Ladd, who was arrested by state policemen the request of state bank commission, accused of having made remarks to the discredit of the bank's financial status which, spreading widely, run on the bank on September and witnesses were one of whom Helidore Trudeau, when asked why he had signed the statement which implicated said that he did not know at the time what signed. but had done merely at the request of the state policeman.