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ALL JENKINS BANKS CLOSE Include First National, and Williamsburgh and Jenkins Trust Companies. NO CASH FOR CHECKS Surprise Came to Depositors Soon After One O'Clock. WILL RESUME SAYS COUNSEL People Affected Include Residents and Business Men All the Way from the Eastern District to Coney Island—Said That Heavy Withdrawals by Local Railroad Company Caused Some Trouble. All of the trust companies and banks in the Eastern District with which John G. Jenkins and his sons have been so long identified closed their doors to-day. First the Williamsburgh Trust Company hung out a sign indicating that because of a lack of ready cash it had been compelled to shut down. Soon after the First National Bank, at the foot of Broadway, and one of the oldest national institutions in the country, followed suit. On top of this the Jenkins Trust Company, with branches spread throughout the town, closed down, and then the chain was completed. An effort was made to interview President Jenkins, and when he was called on the 'phone, he declined to make any statement except that a lack of ready cash was responsible for the suspension. He intimated that it was but temporary. At the office of National Bank Examiner Hanna no information was obtainable this afternoon regarding the suspension of the First National Bank. Mr. Hanna, it was said, had left his office to go to Brooklyn. As a result of the shutting down of the several trust companies and the First National Bank this afternoon many large concerns in the Eastern District will be unable to pay their help to-morrow. This fact was made apparent when several large manufacturers appeared in front of the bank buildings prepared to withdraw the amounts of their payrolls. News of the suspension of the First National Bank soon spread. A small crowd gathered in front of the building at the foot of Broadway, soon after the doors were closed, and this was added to as the afternoon passed. Shortly before 3 o'clock the officials of the bank directed the following sign to be placed on the door: "Closed by the Comptroller of the Currency. "GEORGE F. CUTTS, Examiner." A Times reporter endeavored to get into the bank building to see President Jenkins, but he was prevented by the special policeman on guard. One of the clerks who came out for his luncheon returned to the bank in a few minutes before 3 o'clock and had a great deal of difficulty in getting in. First National Bank Will Resume Shortly, Says Counsel. Samuel B. Coombs, speaking for the First National Bank, made the following statement to a Brooklyn Times reporter late this afternoon after having attended a conference at the bank building, Broadway and Kent avenue: "There is very little to say. The situation is generally understood. We were compelled to shut our doors for lack of cash. We had a great deal of cash on hand, but owing to the fact that other concerns closed down, the withdrawals from the First National were very heavy." "When do you expect to open again for business?" was asked. "I can't answer that. We will get in communication as soon as possible with the officials of the Banking Department. They will probably visit the bank, look over the situation and then tell us to go ahead." Closing of Williamsburgh Trust. The Williamsburgh Trust Company, on the Brooklyn plaza of the Williamsburgh Bridge, closed its doors shortly after 1 o'clock this afternoon, President Frank Jenkins causing a sign reading as follows to be posted on the door: "Closed temporarily for lack of cash." Immediately a crowd collected. A man was stationed in front of the company's building and he refused to allow anyone to enter. A young man soon appeared and when he found that the bank was closed he broke down and cried. "My God," he said, "all my money is in there." Message to President Unanswered. He was assured by several others that his money was safe. A Times reporter endeavored to get into the trust company's building, but was refused admission. He sent a message to President Jenkins asking for a brief statement, but the message was not delivered. Nearly all of the directors of the company were in the building when it was decided to close down. They immediately went into executive session. The meeting was in progress at the hour of going to press. Unable to Meet a $10,000 Check. The bank suspended when unable to meet the check of a prominent resident of the Eastern District, who employs a large force of help, and who sent one of his employees to the bank for $10,000. The cashier of the bank looked at the man and declared, so the man said, that it was impossible to cash it at the present time. The man hastened back to his employer and immediately a report got in circulation that the company had closed its doors. Sign on Down Town Branch. We have temporarily stopped payments owing to the impossibility of securing currency. (Signed) WILLARD REID, Vice President. This was the notice, posted upon the closed doors of the down-town branch of the Williamsburgh Trust Company at 1 o'clock this afternoon. One hour previous the officials of the institution declared that the company was in excellent shape and no intention of suspending payment was entertained. All efforts to secure an explanation from the directors proved fruitless. All inquiries were simply referred to the typewritten notice pasted on the door. Crowds Kept Moving. There were several clerks and subordinate officials at work in the office, but no admission was granted to anyone by the policeman and special officers who guarded the exits. No commotion occurred at any time during the afternoon, although there was a steady stream of depositors, all of whom, after being permitted to read the notice, were kept moving by the officers. Organized Several Years Ago. The Williamsburgh Trust Company was organized several years ago. It has branch offices at 949 Broadway, 391 Fulton street and on Broadway, near Myrtle avenue. According to the last statement, prepared by the Banking Department, the Williamsburgh Trust Company has loans on collateral amounting to $3,063,213, and cash on deposit amounting to $513,362. Its assets amount to $6,077,903. The reserve and liabilities amount to $9,676,484. It was capitalized at $700,000 and there is now due depositors $7,663,331. The surplus and undivided profits amount to $569,720, and other liabilities amount to $743,433. First National Follows Trust Co.'s Lead. Shortly after the Williamsburgh Trust Company closed its doors the First National Bank, at Broadway and Kent avenue, temporarily suspended business. The following notice was posted on the door: To allay apprehension we have decided to close our doors temporarily for the lack of ready cash. A B. R. T. Rumor. No statement could be obtained from any of the officers of the institution, of which John G. Jenkins is the President. It was rumored this afternoon around lower Broadway that the Brooklyn Rapid Transit Company withdrew a large sum from the bank, and that this was the cause. It was only a few days ago that the directors of the First National Bank closed a deal for the purchase of a piece of property at Broadway and Havemeyer street, on which site it was contemplated erecting a new building. Bank Established in 1852. The bank was established in 1852. The capital is $300,000, and deposits are estimated at $4,200,000. The bank is a member of the New York City Clearing House. Jenkins Trust Companies Close. The Jenkins Trust Company, whose principal office is at Nostrand and Gates avenues, and has branches at Surf avenue and West Twelfth street, Coney Island, Bay Twentieth street and Bath avenue, Bath Beach, Broadway and Myrtle avenue, and 1,745 Broadway, closed its doors this afternoon. John G. Jenkins, Jr., the President of the company, was communicated with by a Brooklyn Times reporter, but refused to make any statement, other than to say that it had been decided to close down temporarily for lack of cash. No Trouble at the Offices. There was no trouble whatever at any of the company's offices. Depositors residing in the neighborhood expressed their utmost confidence in the solvency of the institution. Some even went so far as to say that if they had any money on hand they would not hesitate to deposit it with the company. Nassau Trust All Right. The closing of the Williamsburgh Trust Company and the First National Bank caused a few of the depositors to visit the Nassau Trust Company, at Bedford avenue and Broadway, this afternoon. The line was only a small one, and no apprehension was felt. In fact, Andrew D. Baird, of the Board of Trustees, expressed great confidence. Speaking of the situation, he said: "We have enough money to tide us over to-day. We will also have enough to see us over to-morrow. The situation at present looks a little bit gloomy, but I believe the institutions that will see themselves through to-morrow will be all right. "The savings banks are benefitting by the condition. There is no cause for fear, however, for I believe everything will be straightened out in a few days." Manufacturers' Bank in Good Shape. Things were normal at the Manufacturers' National Bank, Broadway and Berry street, this afternoon. At no time was there any indication of a run. In fact there were a large number of deposits received. At no time were there more than two or three persons in front of the paying teller's cage. Cashier Nightingate, speaking of the situation, said: "We are in just as good condition to-day as we have ever been. The actual scarcity of money has caused a scare, and is responsible for a number of persons losing their heads. I believe all the banks are solvent, and will eventually come out of this condition. We are accepting checks and paying out the money as usual, and as you will notice there is no sign of a run here." At the time Mr. Nightingate spoke there were two depositors in the bank.
