Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-06-29
ALL A TELEGRAPHER's MISTAKE.
But a Milwaukee Judge stopped .
Run ON a Country Bank.

But q Milwaukee Judge Stopped .
Run ON a Country Bank.
From the Milwaukee Wisconsin.
This is story Of how a bank was saved
through the mistake of a telegraph opera
ter. a mistake that was not discovered Tor
several months. The bank is the Bank OF
Cumberland. The hero was Judge Pereies.
Therefore the story is true.
1. was during the panicky days Of that
memorable period in 1893 when the bank
without a run on 1t was the exception.
Cumberland is a small town and the Bank
of Cumberland a small bank. Judge Pereles
and several other Milwaukeeans have in
terests a: Cumberland and SO one day he
was not surprised to receive a message
bidding him send from 500 to $500 to the
ment in the town, for there was run on
the bank.
With that calm, judicial elaboration that
has 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 express and then
dispatched a telegram to the cashier telling
him that 81 800 was on the way to help re-
lieve the pressure.
There was more excitement In Cumber-
land when that message was received than
on the day when the express wagon tore up
III
from Chicago to the relief of the Plankinton
Bank. The eyes of the populace nearly
popped out of the populace's head when
they rested on the telegram so consptc-
uously pasted on the window in front of the
bank Thus read the telegram:
Have just sent you $4,000 to help you
out If you need more wire at once. James
Madison Pereles."
1t is suspected that the sudden change in
the direction and the remarkab BILE increase in
the velocity of the wind on that particular
day was due to the vacuum caused by the
gasp of establishment that the populace
gave when it saw the figures. The amount
was probably greater than the entire cap
tia! of any concern in Cumberland, and
there was the invitation to send for more
to this Milwaukee Croesus if necessary. But
it did the business. The run on the bank
was a thing of the past. once While IN
New York Judge Pereles told the story, and
for some months the tale of how $3.50
saved a bank was the joke of New York
banking circles
Irr times of great excitement the Gre
dulity of the public generally seems to be
increased in proportion as pulses quicken
and trivial incidents go far toward relieving
pressure upon banks This is true bank
story No. 2 with the scene slightly shifted.
! Judge Pereles 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 1t on
| investment. 1t was case where argument
failed entirely and so with much trepidation
/ Judge Pereles was obliged to seek the bank
1 where the money was deposited and make
/ the demand for 5000 in gold. There were
| excavations when the bank officials learned
| of the demand. They could not be con-
| WINGED of the client tale; they were suspi-
cious for 1t was an era of suspicion. Final
/ ly the money came forth.
Two messengers accompanied Judge Pere-