0c20ae2cAccommodated withdrawals
Other: Depositors paid in full from bank vaults; directors kept bank open late to meet withdrawals; local banks offered help but were declined.
Click image to open full size in new tab
Run on Detroit Bank. (By Associated Press.) Detroit, Mich., Feb. 24.-A run was started today on the Dime Savings bank of this city. Ae report became circulated in the vicinity of the banks on Jefferson avenue that the institution held considerable of C. F. Andrews paper and the run started. This afternoon depositors began withdrawing accounts.
Click image to open full size in new tab
BANK RUN STARTED. Depositors Withdraw Money From a Detroit Concern. Detroit, Mich., Feb. 24.-A run was started today on the Dime Savings bank of this city. A report became circulated in the vicinity of the bank's Jefferson avenue branch, that the institution held considerable of F. C. Andrews' paper and the run started on the strength of this. This afternoon depositors began withdrawing their accounts from the main office of the bank on Griswold street. Depositors are being paid as fast as possible.
Click image to open full size in new tab
A RUN ON A BANK FOOL FOREIGNER Who Thought Washington's Birthday Meant Financial Disaster. Detroit, Mich Feb. 24.-A run was started on the Jefferson Avenue branch of the Dime Savings bank about noon today, and soon after 2 o'clock it spread to the bank itself, at the cornerof Griswold and Fort streets. Depositors were paid as fast as their accounts could be checked up and the currency could be counted out. At 3 o'clock, the regular hour for closing the bank, it was crowded with anxious depositors, and the line of people who wanted to close their accounts extended through the door and some distance down the street. Instead of closing the bank the directors decided to hold open until 6 o'clock. Until 6 o'clock accounts were closed as rapidly as possible. At that hour the line of people waiting for ad-
Click image to open full size in new tab
Run on Bank Continues. Detroit. Feb. 25.-The run on the dime savings bank was resumed today, but the line of waiting depositors gradually dwindled down during the morning. Accounts were paid as fast as possible. The nervousness was not communicated to any of the other banks.
Click image to open full size in new tab
DETROIT BANK STANDS THE RUN Its Depositors Become Alarmed and Want Their Money ALL ACCOUNTS ARE PAID Fright Started From Rumor That the Bank Had Suspended Because Doors Were Closed On Washington's Birthday-No Help Needed. Detroit, Mich., February 24.-A run was started on the Jefferson Avenue branch of the Dime Savings Bank about noon today and soon after 2 o'clock it spread to the bank itself, at the corner of Griswold and Fort streets. Depositors were paid as fast as the accounts could be looked up and the currency could be counted out. At 3 o'clock, the regular hour for closing the bank, it was crowded with anxious depositors, and the line of people who wanted to close their accounts extended through the door and some distance down Fort street. Instead of closing the bank the directors decided to hold open until 6 o'clock. The receiving teller and his assistant dropped their usual work and assisted in paying the depositors. Until 6 o'clock accounts were closed as rapidly as possible. At that hour the line of people waiting for admission to the bank extended down Fort street for almost a block. President Livingston addressed them from the steps of the bank and said that while the bank would now close it would open at 9 o'clock tomorrow and every depositor would be paid in full. It is impossible to learn the direct cause of the run. It is said that a Polish depositor at the Jefferson avenue branch saw a sign on the door Saturday announcing that the bank was closed because of its being Washington's birthday and a legal holiday. He is said to have spread the report that the bank had closed and thereby frightened the depositors at the branch. The news of the run there gradually spread downtown and started the run on the bank itself. Help was immediately offered by the local banks. It was declined, however, the Dime Bank having plenty of funds in their own vaults. Tonight President Livingston said to the Associated Press: "I expect that the run will be resumed tomorrow, but I hope that we can break it by tomorrow night. We have ample funds on hand, and if necessary could have sufficient money in the bank in 48 hours to pay every depositor in full. None of our commercial accounts have been withdrawn, the nervousness being confined entirely to the savings depositors."
Click image to open full size in new tab
Institution With Which Promoter Was Connected is Paying Off Depositors. Detroit, Feb. 24.-A run was started today on the Dime Savings bank of this city. A report became circulated in the vicinity of the bank's Jefferson branch that the institution held considerable of F. C. Andrews' paper and the run started. This afternoon depositors began withdrawing accounts from the main office of the bank on Griswold streets. Depositors are being paid as fast as possible and President Livingstone says the bank will be held open until midnight if necessary to pay all depositors who wish to withdraw their accounts. Henry B. Andrews, cashier of the wrecked City Savings bank, who has been seriously ill since the suspension of the bank two weeks ago, was able today to appear in police court for arraignment upon two complaints which have been sworn against him as a result of the transactions which caused the bank's suspension. He was released under the first complaint on his personal recognizance in the sum of $1,000. On the second complaint, which charges him jointly with Vice President Andrews with sending a false statement of the bank's condition to State Bank Commissioner Maltz, bail was fixed at $20,000, with two securities, It was immediately furnished. Mr. Andrews is still in a dangerous physical condition. Mr. Andrews' examination was set for Feb. 28. This is only a temporary arraignment, for neither the prosecution nor defense will be ready to proceed on that date. Instead of closing the bank, the directors decided to hold open until 6 o'clock. The receiving teller and his assistant dropped their usual work and assisted in paying the depositors, Until 6 o'clock accounts were closed as rapidly as possible. At that hour the line of people waiting for admission to the bank extended down Fort street for almost a block. President Livingston addressed them from the steps of the bank and said that while the bank would now close, it would open at 9 o'clock tomorrow morning and every depositor would be paid in full. It is impossible to learn what was the direct cause of the run.
Click image to open full size in new tab
Run Ends on the Detroit Bank. Detroit. Feb. 26.-The run on the Dime Savings bank was resumed when the bank opened for business, but the line of waiting depositors gradually dwindled down during the morning, and was broken at 2 p. m. There was no resumption of the run at the Jefferson Avenue branch,
Click image to open full size in new tab
RUN ON DETROIT BANK. Depositors in Dime Savings Bank Anxious to Withdraw Their Deposits. Detroit, Mich., Feb. 25.-A run was started Monday on the Dime savings bank, of this city. A report became circulated in the vicinity of the bank's Jefferson branch, that the institution held considerable of F. C. Andrews' paper, and the run started on the strength of this. Depositors are being paid as fast as possible, and President Livingstone says the bank will be held open until midnight if necessary in order to pay all depositors who wish to withdraw their accounts.
Click image to open full size in new tab
DOMESTIC. Secretary Long will resign this year. Justice Gray suffered a stroke of paralysis. Leo XIII. began his twenty-fifth year as pope. Paul Kruger, of Chicago, whose stomach was removed last April, is dead. Alaska Indians buried alive a boy who had been converted to Christianity. Josie Grimley, 16 and pretty, left her Jersey City home to become an actress. Theodore Roosevelt Jr. arrived in Washington from Groton, Mass., much improved. Miss Beatrice Goelet, of New York, although under 17, left an estate exceeding $1,000,000. Three trainmen were killed in a Northwestern freight collision near Summit Lake, Wis. The trustees of Wooster university raised $140,000 and thereby secured a $100,000 Carnegie gift. Justice Cochrane, in the New York supreme court, held it is no slander to say a man cheats at cards. A run on the Dime Savings bank at Detroit was caused by a groundless rumor that it had failed. The United States Brewers' association will hold its annual meeting in Saratoga June 10, 11 and 12. At Crystal Falls, Mich., the jury in the Bennett manslaughter case brought in a verdict of acquittal. Dave Sullivan knocked out by Terry McGovern at Louisville after fifteen rounds of plucky fighting. The British naval estimates for the present year provide for an expenditure of $75,000,000 for new warships. Clyde Blair, a Chicago university freshman, set a new world's record of four seconds in the thirty-five yard dash. The Iowa senate passed a bill debarring murderers from inheriting the property of relatives killed by them. Rollin Houdyshell of Ottumwa, Iowa, is dead as the result of a gunshot wound received in a lodging-house. Marconi says messages can now be sent secretly by his system. He will soon attempt to send words across the ocean. Richard Gilliam of Mount Vernon, Ill., was waylaid by three boys and killed while on his way home from church. Sixty-four were killed and wounded in a battle between Turkish troops and Albanians on the Montenegrin frontier. In New York Judge Foster ignored the "unwritten law" and sentenced a woman acid-thrower to the penitentiary. Miss Alice, daughter of Levi P. Morton, was married to Winthrop Rutherfurd, Peter Stuyvesant's descendant. Senator Mason will try to secure a favorable report on a bill providing for letter carriers in towns of 5,000 population. The vicinity of Joplin, Mo., experienced the heaviest snow storm in years. Over six inches of snow fell in 12 hours. Maxwell of Englewood high school made new state interscholastic record of 44 feet 7½ inches with a twelve-pound shot. Squads of minute men have been ordered to Wetumka, Oklahoma, to protect the town from the crazy Snake Indians. H. H. Matheson, cashier of a Great Falls (Mont.) bank, who confessed to embezzling $75,000, seems to have taken $178,000. Five students of Wabash college were arrested for rioting. Cayenne pepper was thrown in the eyes of freshmen in a class fight. E. H. Kirkham, aged 70 years, proprietor of a general store in Coal-gate, I. T., and wealthy, committed suicide in Kansas City, Mo. The situation in Barcelona riots is far from assuring to the government and the work of Don Carlos and of the anarchists is suspected. Paris is enthusiastically celebrating the Victor Hugo centennial by publishing every possible scrap of information about the great author. A dozen students of Princetin uni-