Officials Say Bank Is Sound. NEW BRUNSWICK, N. J., Nov. 15. -During a run on the State bank here several prominent citizens assured suspicious depositors that the bank was entirely sound and warned them that those who insisted on withdrawing their money would lose six months' in. terest, payable Jan. 1. Many citizens then forced their way to the teller's window and made large deposits to show their faith in the bank. Congressman Benjamin F. Howell, vice president of the bank, said there was absolutely no reason for distrust in it.
Officials Say Bank Is Sound. NEW BRUNSWICK, N. J., Nov. 15. -During a run on the State bank here several prominent citizens assured suspicious depositors that the bank was entirely sound and warned them that those who insisted on withdrawing their money would lose six months' interest, payable Jan. 1. Many citizens then forced their way to the teller's window and made large deposits to show their faith in the bank. Congressman Benjamin F. Howell, vice president of the bank. said there was absolutely no reason for distrust in it.
May Bank 10 Bound. NEW BRUNSWICK, N. J., Nov. 18. -During a run on the State bank here several prominent citizens assured sue picious depositors that the bank entirely sound and warned them that those who insisted on withdrawing their money would lose six months' in terest, payable Jan. 1. Many citizens then forced their way to the teller's window and made large deposits to show their faith in the bank. Cosgressman Benjamin F. Howell, vies president of the bank, said there was absolutely no reason for distrust in It
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
