New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-07-30
MONEY WTTHDRAWN IN BROOKLYN.
SOME BANKS AVAIL THEMSELVES VI HE RULE
OILERS DO NOT.


IT,, 70. ,,, n, s,,incs banks would take
advantage Of the law permitting them 10 exact sixty
DAYS notice from dcposors who wished 10 whhdraw
money .,,rmcd many d.rositors in Brooklyn yesicr-
day and there we're co. siderable sums drawn from
some of the savings banks before they tooh advantage
OF the rule. Others ANNOUNCED - u'poS"o's VINO
soucht to get money that the rule womb pe enforced
and 80 prevented any possibility oil III mere
was n considerable crowd of persons at Inv hroo"yh
Savings Bank at Fulton and Concord s'S'' anu mary
~ then, drew nancy FcN l.. Flandreau, the cashier,
said that the bank had not ann"u'ce" IL "'eh'ioh
Of taklrg advantage Of the sixtyday rue ana ne
ala rot h.,iove # would be done President Morgan
started for Massachusetts, on Friday for his vaca'o',
and Mr. Flondrcau did not think that the Hurry over
the subject would bring him back. ihei' WIS no
alarm at the bank, although the dr'i'H III" 'Aeceueu
the deposits for some time, Tor 'l' p'nN - olc vi
The sOundest in the world There WIS q'''''oo !"
cash I'm the bank and ncighb0ilnS 'rust companies
and = large amount OF securities readily convertible
&C.,, , vr r1ordrcau added. while we do not
feel fhe slightest alarm. we ale OF 'he opinion lha'
,h oct,on NJ tc New York and some OF the brooklyn
hanks in enforcing the rule Is mistake rs II may
he taken BY ignorart people rs confession "l weak
ness. I think the result will show thn' II womb
have been wiser not 10 do So 'ohSu'r""'' "lo"'S
has been withdrawn by savings bank ocpoS"orS 10
fvcst in stocks and bonds, which the investors resard
bargalns'
Tho second ,o,ccgt saving; bank in the vicinity Of
the CITY Hall in brooklyn is III" Dm'' u" '"ut
and pomseu SIS. A meeting Of The Tinarc' Commit
tee was held yesterday nor lin- ana u was "''"'"
10 require the sixty days notice for the Withdrawal
q, all Gums over 500 President = &. Hutchinson
said: "This Is a precautionary m"HSnI" i"rnd'd
70 slbscrve the interests Of orr d"po,orS a wei rs
ourselves II Is certainly much wiser 10 ha'Dor our
resources of ready cash while W" nave II OH h'n"'
,bon to nay II ont and be compelled 10 throw securities
On the market When everything Is depressed
Ex-Mayor John ". Hunter Is treasurer oi inc p'"''
savings Bank. and he said " This bank was repre-
,,od ., ,be meeting in New WORK. and We have de-
cdcd TO take advantage OF the rule In regard I'd SINUS
over 800. No one need be- alarmed at ms ana
there IS no danger. ! understand al inc palN9 WIN
do tho same. But We will not act arbitrarily. ana
~ n dcpostor needs his money he VIII be aDic 10
get IT. We want TO protect our depo'''or' III" wv
bank. II IS sound as ever
There was slight run at the south BROOKLYN
savings Institution. at Alanticavc. and Clnions''
and the sum OF $1,000 paid out In lew
Minutes I'm the morning. II then decided 10
take advantage OF the rule requiring depo'lt"rs ID
give notice and the run vas stopped.
The Gcrrnnla saving, Bank. In fuon->f. OPP
poste the City Hall. received no notice o' ''' '""
ference In New York. and did not decide 10 require
notice from depositors I'm advance Of Withdrawals.
Vice. President Augustus Kurth said tIat there was
no callse for allrm and that the pioNS should TAKE
steps To aay any suspicion due t. the action "i tAe
New-York banHs.
The East Hrocllyn savings Bank. at Myrl" ana
Franklin avcS.. deciiod 80 give notice ua' t'' sNN
DAYS clause would De- enforced tomorrow.
The largest saving, bank in inuohyn J. the VII
.msburch Bank. at broadway AMI DrigS'ave
There vas small mn NJ this bank vest rdy morn
ing due 10 alarm among the icnora residents 81
The Eastern District. tut all depo'ors who wi'h"H
10 draw money paid IRON great piles 81 GOA
on the cashiers dcsk. General Mcscrolc, president
- the bank, said that u" business OF the BANK was
going on ~ usual. and Inst IN" b1nk wa, prphI'n
10 paw all demands. lie declined t. SAY whether I'D"
sixty days rule would tc enforced or not No hour
~ I, va. rvcn Yesterday ~ the kings County
saving. Bank In Broadway all person, Who sought
10 withdraw their deposit, were pnd. -
The iol,ONine figure are from TIE reports 81 All
the savings banks in Brooklyn Tor last year;