The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-01-11
PROSPERITY STAR !SBkNK RUN
POLICE CLUES CLEiR SCARED
HFRREU ) OFT or GRAND ST.
The, saw Crowd DepOsltins its NIoncy
at the state Bank and Imagined the
Bank 10 Troublc-l'h8ussnGs There
AFTER II Closed, DloCkiUg Traffic,


AT the Stale Bank and Imagined the
Bank Ia TrOublc-Ih0ussnGs There
AFTER II Closed, DlochiUg TRAFFIC,
Because several hundreds Of Hebrew
depositors were seen going into tine savings
bank department of the State Bank 10
Grand street yesterday and coming out
with their blnkbooks ruuor started that
the bank was il trouble and run on It
began, which ended after the bank had
closed and the sweatshops had sent their
workers home, in almost riot
The fact that the crowd about the bank
whose presence started the rumor had
gone there 10 put money in in time TO get
interest ON It for tho present quarter, and
not to take II out didn't matter at all 10 the
scared depositors After the bank closed
the two lone cops sent there ON special
duty were swept of their feet They tele-
phoned for help to the E,dridge street
station and S"rGt Sweeney had to rush
thirty-hve reserves there II WAS neces
sary for the police to draw thoir clubs To
clear the street
This was at O'Clock last night. Traffic
on Grand street was paralyzed. and only
with the greatest difficulty did the police
men clear space enough 10 permit ths
Grand street cars to pass
IL was estimated by the police that at
o'clock last night there were 1900 people
around the bank Sam Cohen, the janitor,
tried hard to convince them that the bank
was all right but the crowd seemed TO CON
slider him anything but their friend. lie
finally put up a sign in liddish in the front
window notifying them that the bank
had lots OF money was IN no danger OF going
to smash and that any depositor could
have his money by bringing his book 10
the bank this morning. Yet at / o'clock
this morning there were still several hun
dred parsons in front Of the place
Deposits made in the bank ON or before
Jan. 10 draw interest a. from Jan. !. Yes
terday being the last day OF grace there was
all day steady stream OF men and women.
nearly all OF them typical Russian Jews.
going in and out OF the bank to get their
dep sits in A little after noon the crowd
grew So large a. to have the appearance
OF ran on the bank and on that basis
somebody started the rumor that this
was what il was
A train Of powder Is asbestos compared
with rumor Of this kind ON the East Side
concerning a bank in which any number
OF the people around have deposits. The
rumor about the State Bank did not seam
TO spread in the ordinary way. II was
ike an explosion from spontaneous com
bustion spread through many blocks
The tenemcnts we're empued and the streets
filed with wild eyed Hebrews. all chatteun.
and gesuculating and all headed tur the
Stste bunk
The quiet crbSd lready assembled there
70 make deposits did not at FIRST know
what the invasion meant When the
rumor about the bank being in trouble
vas touched OF among the wouldbe de
positors there was another explosion,
The chGttering screaming and gesticulatiug
increased tenfold Two extra policemen
were sent for and they Ind thei; hands
full budeting baok The waves OF half
cra1ed people VINO tried to force their way
into the bank TO get their money out,
Those vino had come to deposit remlinet
10 withdraw. and it wa the paying teller's
turn to ba busy.
we hAd something like this in the Spln-
ish war said Arnold kohn yice-presdent
and manager Of the bank as he looked
with an amused smile al the eager up
turned faces IN the street az ciolng
Tine bsfoge thn lting grew SO serious.
1T wa, started by rumlr as absurd
a. this. 1t w. rcporte among the
people around here that the Govern
ment wa going 10 take all e money TINT
was in the banks The, people ara most
Of them Russian Jews and they do that sort
II thing in Russia now and then. So the
rUmor found ready credcnce and there y
Il rush 10 the bauk TO Withdraw money
II ept up for day OF so aud then the peo-
pie came back and rcdepo-ited. II will
be abont the same 10 this case. suppose
Il should judge from the appearance Of
The crowd in the street that we would have
bigger run tomorrow morning OF
'our-e We can 60 nothing TO check IT.. II
: 10 u-e trying TO disabuse these people
II their notion There il nothing to DO
'ut go on paying them their accounts
NTH they get tired of withdrawing They
SAL all he hack in a few weeks redepo-iting
heir money
y have not the Iemotest idea how Tho
amor that u uauk wa. ia trouble got
tarted II is absurd Of course Yet with
M the excitement the Withdrawals to-day
yere not very heavy. We only pad ou'
bout s25.OOD to-day and that il not re-
at an even as compared with the
anne day yeas ago when thcre vas no
UGH excitement