Williamsburg Savings Bank (Williamsburg, NY)

Article Text

DEPOSITORS ALARMED

But the Willlamsburgh Savings Bank Meets the Run, and Is Ready for Another. The false rumortouching the financialstanding of the Williamsburgh Savings Rank circulated on Faturday. and which caused about one hundred depositors to withdraw their savings. was followed iy another run on the bank yesterdar. everal hundred depositors crowded around the doors. and. when the bank was opened. made a rush to withdraw their money. They were m stly Hebrews and Germans. women pr-dominating an before noon all of them were served. After that time the business of the bank went on as usual until 3 P. M., when the ank closed until 4 o'clock. a d reopened until 7 P.M. when it closed for the day. I order to provide for the rush which was expected. six wi dows were opened instead ( Las r. and the entire force of officials and clerks was pl ced on du y. Gen. Meserole. the President of the bank. said last evening that th. bank's surplus of -5,000,000, was vailabl at all times. "As a matte of fact." he added. 0.8 money was withdrawn on S. ur ay than on the simi ar days. July 1. of the two preceding years. Ju y 1891. there being 401,000 withdrawn. and on July 1. 1892. $430,000 was withdrawn. while on Sat rday only $256,000 was taken out. We do not anticipate any further rush, but if it comes we are prepared for it."

Article Text

CONDENSED TELEGRAMS

Johnson, the famous California outlaw, died in jail at Fresno yesterday. General Warner denies the story that there has been a secret conference of the free silver congressmen. Edward McCarthy jumped from the Brooklyn bridge last night and sustained fatal injuries. Ho wanted to emulate the example of Steve Brodie. A run on the Carbonato and American banks at Leadville, Col., was instituted yesterday. The bank meets all demands, and depositors are being paid in full. Fifteen hundred miners at Long Run, Dillonvale and Laurelton mines on the Wheeling & Lake Erio are out on strike because of the discharge of the check weighman. A dispatch from Hong Kong reports another fanatical outbreak against mis. sionaries in China. The dispatch says that a mob of natives attacked two Swedish missionaries at Macheng and killed them. The militia were withdrawn from Tonawanda, N. Y., yesterday atternoon. The situation has become such that deputy sheriffs can take the place of the soldiers in guarding the property of tho lumbermon. There wns a slight run on the Will. iamsburg (N. Y,) Savings Bank yesterday morning. Nearly n thousand porsons crowded to got into the bank as it opened and at noon hundreds of anxlous inquiries were made. The bank is in no danger.

Article Text

NO RUNS LIKELY IN KINGS COUNTY

A Few of the Savings Banks Adopting the Time Limit as 18 Precaution. The action of the representatives of the savings banks on Friday in deciding that each bank might avail itself of the privitege of putting the thirty and sixty days' time limit regarding the withdrawal of deposits in operation did not create much stir among the depositors in the Brooklyn banks. A few of the banks took advantage of the privilege. and some of the others will probably do so next week. All the banks are said to be solid financiaily. and there is no indication of any alarmingly panicky feeling among the depositors. A few minutes after the Dime Savings Bank opened its doors depositors began to come in in a steady stream. anxious to withdraw their deposits. After a consultation between President G. S. Hutchinson and the other officers of the bank it was announced that the time limit notice for amounts in excess of $100 would be enforced. Cashier Hunter said: "No person need be alarmed. This is more a matter of precaution than anything else. The bank is as good as it ever was." The order caused only irritation on the part of three or four depositors. and during the day about the same amount of money as usual was taken in. Almost the same condition of affairs existed at the South Brooklyn Savings Bank. where the sixty days' limit clause regarding the withdrawal of deposits was also enforced. The only grumbling was on the part of some depositors who wanted ready money to pay off pressing demands. Treasurer Anderson seld: "It is extremely unpleasant for the bank authorities to adopt this course, but it has become extremely diffleult to get money. and as a precautionary measure the banks must harbor their ready cash." At the Brooklyn Savings Bank, the Germania Savings Bank. the City Savings Bank. and the Brevoort Savings Bank money was being paid out as usual. and at each it was said that more money was taken in than was paid out. There was a slight run at the Brooklyn Bank in the morning. but it did not disturb the officers in the least. The sixty days' notice will go into effect at the East Brooklyn Savings Bank to-morrow. At the Williamsburgh Savings Bank. Driggs avenue and Broadway, severallhundred depositors withcrew their savings yesterday. The bank is one of the most solid institutions in the country. and has a surplus of more than $5,000,000. Gen. Meserole, the President of the bank. declined to say whether or not his Institution would takeladvantage of the thirty day and sixty day rule. Every depositor who comes here is being accommodated." was all that Gen. Meserole would say. The trustees of the Kings County Savings Bank. at Broadway and Bedford avenue, had an informal meeting yesterday morning. and afterward said that they had not yet received a communication from the Executive Committee of the Savings Banks of the State, and. therefore, could not speak on the subject. Cashier Bischoff of the German Savings Bank. Broadway and Boerum street. said the deposits during the last few days exceeded the withdrawals. and that his bank would pay no attention to the thirty or sixty day rule.

Article Text

BROOKLYN BANKS PAID TO THE NEEDY Williamsburgh Bank Couldn't Help an Italian Whose Mortgage IN Due To-day. All the Brooklyn and Williamsburgh savings banks. with the exception of the Brooklyn City and the Brevoort. which do a comparatively small business. have notified their depositors that they must give the specified time notice of their intention to withdraw sums of over $100. There was an unusually large number of depositors on hand yesterday morning when the banks opened. and in some cases the services of policemen were required to preserve order among them. Many persons. who were urgently in need of money to meet pressing demands. made special appeals to the officers and in most of these cases the money was paid out. There was a great crush at the Dime Savings Bank. the women being the most elamorous for their money. The reassuring announcement of Treasurer John W. Hunter. however. had a quieting effect. For several hours after the opening of the Brooklyn Savings Bank there were about three times as many women AS men in the surrounding crowd of depositors who wanted to draw out their money. Among the women were some who came to deposit money. When this was observed one of the other women whispered to her neighbor: It is a put-up job. The money is given to these women to deposit in order to make it appear that the bank is all right." This passed along the line. and. absurd as the suggestion was, a great many believed it. When the doors of the Williamsburgh Savings Bank. at Broadway and Driggs avenue. Williamaburgh. were opened yesterday morning. fully 500 depositors pushed their way into the building to withdraw their savings. Those depositors who were in need of money were told that they could withdraw $10. but no larger amount. The news that no more than $10 could be obtained at the bank spread rapidly. and within an hour there were at least a thousand people inside and outside the institution clamoring for their money. A weeping Italian begged Gen. A. V. Meserole. the President of the bank. to let him have his money. He said that the mortgage on his house was due to-day. and unless he paid it the mortgage would be foreclosed. Gen. Meserole told the depositor that he couldn't help him. Another man had arranged to go to Europe to-morrow and wanted $275. There was a small run on the Kings County Savings Bank at Broadway and Bedford nvenue and the Dime Savings Bank of Williamsburgh at Wythe avenue and Broadway.