New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-09-13
Run ON A BIG ENGLISH BANK.
DUE no THE FAILURE OF BUILDING SOCIETIES
THE CLAIMS OF pEPoHTORs
PROMPTLY MET.

PROMPTLY MET.
LONDON Sept. 12-The great building and bank
society which announced jim these dispatches on
Friday as being involved in the failure of the London
and General Bank, The Liberator Permanent building
and nvestmcn, society, and the House and Land In
vestmcnt Trust IS the Brkbcck Bank the Offices Of
which are at Nos. 30 and 30 southampton Euidinc',
Chanccry Lane. The manager OF the Blrkbcck Bank
Is Francis RavenscrOft. who Is also manager OF the
Brkbeck Advance society, the Birkbcck Building so
ciey, and the Birkbcck Freehold rand Society. The
Rrkbeck Bsnk is the oldest OF the associated binding
trusts To-day n made the bank, and
the premises were choed with customers withdrawing
their money. The demands were met with rapidity.
The usual hour for opening the bank is 10 o'clock.
but this morning. In view Of The uneasy feeling among
the depOsltors, business began at 8 O'Clock. This
afternoon the directors held a meeting and decided
to keep the bank open until 10 o'clock at night. to
give on opportunity for those anxious
to withdraw their money TO do so.
The Brkbcck Bank Is officially described branch
of the building society, but is n distinct department.
A representative of the Associated Press had an
interview with Manager RavenScroft this afternoon.
The manager attributed the run on the bank To the
position brought about by the failure Of building
societies. He said The public has Just for
alarm about the Blrkbcck Bank The building societies
had money locked up in lands and buildings. over
81 100000 of securities held in the Bank Of
England, and raise money them within an
hour"
At O'Clock this evening the crowd OF creditors OF
the bank greatly augmented and an enormous
mass Of people pushing and surgng about the
entrance. The widest excitement prevailed ana the
fact that the bank since early In the morning had
promptly met every claim seemed TO have no effect
In allayng the panicky feeling. The authorities oil
the Brkbcck Bank announce this evening thht Inc
Union Bank has guaranteed them the sum III
II 100000 with which to meet their liabilities ,
The bank was bcsicScd until p M. after wmch
hour the crowds diminished Al 10 O'Clock the bank
was closed.
Among the great crowd gathered In front OF the
hank during the day many thieves who indus
tfOuSly piled their trade. OF them nado heavy
haus, one man being relieved Of the sum u fl,lO,
while two others lost c2J0 and c12O. respectively.
Many smaller amounts also stolen. and the run
the bank proved rich harvest for the pckIockcts
As several Of the dclOstors who were robbed were
persons Of slender means the deposits representing
their entire wealth. the loss which they sustained was
"A great blow to them. .
Inside the bank, aftA 10 O'Clock tonight the
OF nervous activity which prevailed during tho
whole day was still 70 be wtnes,ed Although they
had been ovcrworked during the day, the clerks have
made preparations TO remain at their posts all night. 50
~ clear books Of tn" bank and have them ready
for the expected invasion Of another Of depostos
In the morning In interview tonight, the man
ager Of the bank said that most Of tho Withdrawals had
l. :. OF small amounts. He dcclarcd that he had
q OF money on ,and 10 meet all the demands that
vu.''. be made.