The Savannah morning news. (Savannah, Ga.) 1900-current, 1900-06-13
ALL a TELEGRAPHER' MISTAKE.
But 81 Milwaukee Judge stopped n
Run on n Country Bank.
From the Milwaukee Wisconsin.

Run on Country Bank.
From the Milwaukee Wisconsin.
This is a story of how a bank was
saved through the mistake of a telegraph
operator, a mistake that was not discov-
cred for several months. The bank is the
Bank of Cumberland. The hero was
Judge Pereies. Therefore the story is
true
ii was during the panicky days of that
memorable period in 1893, when the bank.
without a run on it, was the exception.
Cumberland is a small town and the Bank
of Cumberland small bank. Judge Per
eles and several other Milwaukeeans have
interests at Cumberland, and so one day
he was not surprised to receive mes
sage bidding him send from 500 20 $500 to
the cashier without delay. There was eX
element in the town, for there was a
run on the bank.
With that calm, judicial delberation
that hos marked his career upon the
bench Judge Pereles reasoned that 500
would not go very far toward staying "a
run. and so he drew his check for triple
the amount forwarded the money by eX-
press and then dispatched a telegram to
the cashier, telling him that $1,000 was on
There was more excitement in Cumber-
land when that message was received than
on the day when the express wagon tore
up Second street with the box of gold
that came from Chicago to the relief of
the Planknton Bank. The eyes of the
populace nearly popped out of the popu-
lace's head when they rested on the tele-
gram so conspicuously pasted on the win
dow in front Of the bank. Thus read
the telegram:
Have Just sent you $4,000 to help you
out. If YOU need more wire a once.
James Madison Pereles."
1t is suspected that the sudden change
in the direction. and the remarkable in
crease in the velocity of the wind on that
particular day. was due 20 the vacuum
caused by the gasp of astonishment that
the populace gave when It saw the fig
ures. The amount was probably greater
than the entire capital of any concern
in Cumberland, and there was the invi-
tation 20 send for more to this Milwaukee
Croesus.. if necessary. But 1t did the
business The run on the bank was a
thing of the past Once while in New
York, Judge Perees told the story and
for some months the tale of how S,5OJ
saved bank was the joke of New York
banking circles.
In times of great excitement the credul-
itv of the public generally seems to be in
and trivial incidents go far toward reliev-
ing pressure upon banks. This is true
bank story No. 2 with the scene slightly
shifted. Judge Perees still remains the
hero, while the bank is the Merchants
Exchange.
one of the timid clients of Nathan
Pereles & Sons became infected with the
panic germ and insisted upon the firm
storing for him 5000 in gold that he had
left with it on investments. 1t was case
where argument failed entirely. and so
with much trepida ton, Judge Pereies was
Obliged 10 seek the bank where the money
was deposited. and make the demand for
g. 900 in gold There were execratons
when the bank officials learned of the
demand. They could not be conspicuous.
for it was an era of suspicion. Finally
che money came forth.
Two messengers accompanied Judge
Pereles, then just an ordinary lawyer
as he walked off with the pile of gold,
l. seemed as if every eye was on that in
nocent looking satchel and 1t seemed an
ewflILv long way to the office. Finally
il was reached.
Then the Pereles brothers held con-
SITUATION. There was the liability of bur-
glars and it was decided to rent SAFETY
deposit vault and store the gold. The
two brothers posted OH with the goo pc
tween them. heading for the Merchants
Exchange Bank 1t wasn't very far, but
the gold seemed awfuily heavy.
There's run on Nunnemacher 8
Bank" said one as they passed across
Wisconsin street.
The statement was true There was an
excited crowd outside the teler's window
anxious to Withdraw deposits. In through
the front door went the Pereles brothers.
The late Bradley Schley was there and
he esDied the brothers
Hello, what have you got there, a
satchel fun of goid?"
Yes" replied Judge Pereles with
smile. taking up the sally.
We'll" replied Schley, this banks
all right, with the Pereles brothers bring
ing gold into 1t"
The statement was loud enough for
nearly everyone to hear. There was
sudden check in, the rush for the teller's
window. People in the crowd paused
and then noticing the bag Of gold. disap-
pear into the private Offices, hestated,
chen turned away. The 5000 in gold was
snugly stored away in a safety deposit
box, where no depositor could have got
il with a crowbar.