Fairhaven herald. [volume] (Fairhaven, Wash.) 1890-????, 1891-08-14
WHAT A RUMOR WILL Do
Unscrupulous Persons Try to
lnjure the Standing of a
National Bank
The Bank is in Good Shape
and Ready to Meet
All Corners
Many Offers of Financial As
sistance Received by the
Bank Directors

Ddlih LII tCStolo .
Yesterday rumors of various kinds
affecting the standing of the First Ma
tional bank were in circulation. All
kinds of stories iloated around and
were discussed pro and con on street
corners in stores and hotels. Some
were TO the effect that all public
moneys deposited in the bank had
been withdrawn; that the bondsmen
of several county officers had ordered
the officials TO withdraw their deposits,
as there was grave danger that the
bank was about TO close its doors
Such were the rumOrs which began TO
be circulated Wednesday night, and
yesterday forenoon they they began to
gather force, and investigation showed
that the bank officials had also been
Informed OF the rumOrs and had made
preparations to meet the demands Of
frightened depositors. There was no
run however; the business OF the
bank was transacted in the usual man
ncr, and no wild-eyed men or fearful
women besIeged the banks doors and
asked for money that they could not
Immediately obtain. The bank did its
usual amount Of business, and the
Withdrawals, while little larger than
usual, were not such as TO show that
COniicnce had been shaken TO any con
siderable extent. Plenty Of money in
sight and the prompt payment OF all
checks, had tendency to restore en-
tire confidence in the institution.
The present state OF affairs, and
! the consequent timidity Of depOsi-
! tors is said to be due To sort of
bear movement on the part Of for
mer shareholders and officers Of the
ank. The recent change of manage
ment was. il is alleged, not 10 their
liking and the present runners are
traceable TO this source and a desire
10 get even because Of their failure
10 control the directorate.
As soon as 10 became known that a
run on the bank was imminent, other
banks came with offers Of assistance,
and besides these SlOOOOO in various
forms OF security was pledged by
private parties TO the bank directors
1t is expected that the bank will cx-
perience a run this morning, and all
| dcpOsitOrs will be met promptly with
the amount Of their deposits.
"A HERALD reporter called at the
| bank yesterday afternoon and had a
short talk with President Atkins
That gentleman met the reporter
smilingly and remarked, 81 know
what you are after; sit down"
YES" said Mr.. Atkins, "wc have
| heard the rumOrs affecting the bank,
| but business today has gone along as
usual; deposits haYC come In and
Withdrawals made, as happens rcgu-
larly each day. Withdrawals today,
owing TO the rumOrs which you have
heard have been somewhat larger
than usual. As 20 the banks stand
ing, IL Is all right, and we are now en-
gagged In making out "A statement Of
resources and liabilities up TO date
We have had offers Of aid from other
banks, besides individual offers for
large amounts. The bank will meet
all obligations, and will be ready to-
morrow to answer all calls that may
be made.
"The present status OF affairs is
caused by no lack OF confidence on the
part Of depOsitOrs, but through the
Vaccinations Of certain individuals
who desire TO injure the banks stand
ing"
A further talk with number Of
prominent business men showed that
they had every confidence in the in
stitutiOn, and no serious disaster TO il
| Is apprehended. The mere fact that
several Of the mOneyed men OF What
com have offered TO come To- the banks
aid has done much to abatc any feel
ing Of panic that may have existed.
! Nice-President viii ID. jenkins was
also seen and he said "The bank has
had large offers OF assistance, and we
do not anticipate any serious run. A
panic Of this kind is, however, injuri-
Gus, and we have made every prepara-
tiOn to meet all demands. We have
800, 600 pledged TO us, and the best
men, financially, OF the city will stand
| by us"
The amount on deposit In the bank
is about $4,000, and there are about
four hundred depositors, and il eau
easily be seen that portion Of that
number would have but little trouble
in creating panic and a consequent
rum