The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-01-18
TWO REMARKABLE RUNS.
clover Scheme for Beating Depositors
Game OF Freeze-out-


FrOm the Net1 York Herald.
Speaking Of the run in the Ulster County
Savings Institution, rec entity, a prominent
New Yorker banker said: 1--WE have
nothing to-day that really compares with
the runs during the panic Of '57 and the
Wilde at banking days.
II was young man In business In Phila-
delphia.n he added, during the panic year.
and | was exceedingly anxious about my
small deposit when it was reported one
morning that the bank in which l carried
1t was in danger. Early one morning in-
formation came to me that there was a run
on the bank. l hurried TO the scene and
found the report to be true. took my
place in the long line and waited.
The paying teller was deliber-
ate, aud it was several hours before |
reached his window. When he paid me,
instead Of the coin that requested he gave
me the bank notes of neighboriug bank
protested, but the man on the line behind
me forced me aside. and 1 was compelled to
accept the money Of a bank in which had
even less confidence than the one from
which had withdrawn the original amount.
fastening down the street, / found upon
reaching the other institution that there
was sympathetic run there. Again |
waited on lengthy line of anxious de-
posltors. When reached the paying tel
ler's window and asked for United States
| coin handful of bills was thrust through
the pigeon hole at me. 4 want COIN |
| cried. Upon examining my money
found that this time it was nearly
! all the issue of third Philadelphia bank
| and, with grim determination, resolved %
ask for its redemption. | had no difficulty
with run at this institution, and when ]
presented the notes for redemption in coin ]
certainly expected to receive iG. Judge of
my amazement, then, on receiving In ex-
| change bills of the bank from which | had
first drawn my deposit earlier in the day.
| learned afterward that the entire scheme
had been arranged by three banks. The
messengers had logged money from one in
| stitution to the other for the sole purpose OF
keeping men chasing around the town
There was no way of beating the dodge, and
eventually lost ali my money by the banks
failure
Continuing his narrative, the banker
said: There was one bank in Plainfield
| n. j., that played with success very neat
game on its depositors at the time of a run.
| happened to be in the town at the time
l5 was bitter cold day in the winter. The
| bank building was peculiarly constructed
A hallway led from front to rear. On one
side was the counting room, with the pig
con- holes OF the cashier, telers and book
keepers, on the other a blank wall lofty
partition, rising to the ceiling, composed of
glass, With sliding window frames, formed
| the counting room side of the passage way.
The bank officials got wind Of the prospect
i've run early in the day, and they prepared
Tor 1t in unique manner. They
opened oil the DOORS allowing a
| free circulation of air Near the
rear door they fastened fierce bulldog,
attached to chain ten feet long. The
| thermometer registered below zero, and the
temperature Of the passage way soon fell 70
the same point. Inside the counting room
cheerful fire burned in the fireplace The
anxious depositors crowded in the cold pas.
| sage way could see the blaze, but felt no
warmth. They attempted to close the doors
but so great was the crowd that this was
| impossible in front of the building, and
| the bulldog near the rear door tugged at
his chain and growled ominously at any one
who dared to approach him. Meanwhile the
tellers worked slowly. They had laid In q
vast supply of subsidiary coins, cents, and
half cents. and silver and cents
pieces. Each depositor was made to take d
| proportion OF these coin, and before it was
| paid over each piece was counted aud re-
counted. To further aggrayate the de
| positors the bank directors at the noon hour
| had fine dinner spread in full sight of the
men who were standing in the bitter cold
without Ihe uiFectoTs INSIDE Ihugneu ana
chatted pleasantly over their meal. The
| freezing. frightened. almost famished de-
positors in the line stamped their feet and
swore fearful oaths, but without avail.
Finally, many of them. choosing rather 70
risk their money than their lives, gave up
the waiting in the piteous cold and returned
to their homes. 1t was," said the banker in
conclusion 1.-THE most unique way Of Stop
ping a run on bank of which 1 have ever
heard it was, in fact. a regular freeze
OUT