New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-04-23
~ FEAR FOR THEIR SAYINGS.
FRIGHT AMONG DEPOSITORS IN SMALL hAoi
SIDE BANKS-WHAT SAVINGS BANKS
PRESIDENTS SAY.

Tie war with Spain has had one peculiar eHe''
on ,he people VINO i've in the moro crowded tenc-
mon: sections Of the lower East Side. Many 81
these people nave become alarmed a. the war and
have taken fright for their little savings Many o.
hem had deposited their small boards in some OF
the hundreds o. private banks that DO business on
III. East Side The Italians and Polish Hebrews are
particularly inclined 10 mis- disposition OF her saw
ngs Some OF them deemed II safer 10 take their
savings from these banks and secretc them at home
In consequence OF this there has been some excite"
Inert about these small banks little time Will
doubtless rcassure these people and convince them
thu, no bank will become any loss safe because o.
the wa.
The mos. important bank effected ~ the var
scare is the State Bank. az 40. 3sS Grand-st. This
however is not savings bank. but II mas a foreign
department in which II takes deposits on which u
allows interest Fifty or sixty people were l'nod
Up In front Of this bank awaiting IFS opening Hes'e'
day morning. Four policemen were on hand 70 pre-
serve order. Just before the opening carnage
drove I'D and >our large bags Of silver dollars we're
taken into the bank The persons who wanted 10
draw their money from the bank we're sent into the
haeor,or, ono bv ono They appeared to he la
horers or proprietors Of small street STANDS ana
pushcarts At the same time there were nearly as
MANY people going into IN" bank 10 max" deposits
and they laughed AT the fears 81 those wishing 10
draw their money.
The banks oficials said that they prepared
.,,, hoy were NOT even Demanding the legal thirty
,,.-. .,o,t,o 90 ui,bd-,val
"r -NE Jay '''''e "''" .a ~ ,,x,a,v
Tho var excitement has not caused any anS'e!
among the officials Of the large savings banks. as
-, 49, s 49,. ,ouou.,-c ,,,ervovs with the
VII ne St'n I'o'" NV 'oi'o''e ,. ;,s,,,r
presidents of o. the iarge%: savings h's'''u-
tons in tho country.
-, -, pno,dos rrosidout of tho Green
''" -, SIT a,o r.as soon
wien savings Bank. NO Nv ''N''-"'' ~.
las; night hv a Tribune reporter at his nome No
20 >r,d,eon-,ve about the feelings of savings
,.- ~, d., ,-,1 thu tact that some
'd'lh' "'''"S''''S' ''V ''t' ~ <.., ~
people should withdraw thslr savings HUH NV
he III. ~, account ~ tho war scare. because they
'' ,, ,....s. 49,. o,,o, make urfor-
! OF onN lose 'l'' 'i'c''''' N ~, -, 49,.
turat" investments with their Idle capital Ion
,ir,,;,c Mr. Dbo,dos said.
,.-, =. , ,,,, .,a e.,.,r-s hanks but the
mere i II run UPON vi" 20 ,- 49,. .o,-
Withdra ais during tho last thi''f ue!S nav ~"
snasr,odic and hop 81. than usual owing 10 the
, ,,,ah ,u.,v. tolous an * tied condition
EARN t,i ossrecioIIy am ,ng III, ignorant
- ~ ,ir,id AVA The weak losing their men
Ia - ,,,a .brni,gh var scare are apt think
~. n ~ h,rns and nronerty are not safe from
thdt N" .G'', - oIinerjsu, Inc NO n n with
r',n moi knowjng why except that
Nv ~. ~ ,-o;d r. a limited extent such is the
my "'' a. nr,s.o, ,ims The banks are In
Va!c - .';ot r;,b ,n,nla reserves and plenty Of
Hti'h"e c"r,mer, al mn nc has taken place or
g ~ ~ Inc condi. ions do not exist
VII am t'" c,risis Tow millions more or loss.