Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-11-17

John Joy Edison from other banks both in
and outside of Washington.
Offer Of Assistance.
One telegram from New York read as
follows:
Can we be of any assistance to you?
(Signed National City Bank of New York"
To all such offers President Edison replied
expressing the Appreciation OF himself and
other officers Of the Washington Loan and
Trust Company, but stating that no aid Of
any kind was needed.
Statement by Directors
To reassure all frightened depositors, the
following statement, signed by every men,
Der Of the board Of directors of the trust
company. was issued at noon today:
I'm view of rumors resulting from an err
ror In confounding this institution with an
other, we desire to assure the stockholders
depositors and patrons of the Washington
Loan and Trust Company that 1t was never
In such sound and safe condition as at the
present time. Attention is invited to Its
statement just made to the controller of
the currency, which is published in this
paper.
I'VE assure all concerned that their
money and property entrusted to our care
are perfectly safe. (Signed)
Barker, John Cammack. John R. Carmody,
Augustus Crane. Jr.. j. j. Darlington, James
T. Du Bots, John Joy Edison, A. P. Pardon,
John A. Hamilton, Philip Hichborn, John
A. Johnston, Martin A. Knapp, John b.
Larner. w. A. Means. H. D. Mirick. Wat
son ]. Newton, Theodore w. Noyes, SamI
l.. Philips. N. H. Shea, Louis P. Shoe
maker. Thomas w. Smith, Ellis Spear, John
A. Swope, George Truesdell, B. H War
ner. A. A. Wilson, A. s. Worthington. H.
X. Willard. Directors"
Determined the Cause.
As soon as 1t became apparent that an
incipient run was in progress yesterday
the officers of the Washington Loan and
Trust Company instituted an investigation
to determine Its cause. There was little
diqculty In locating the source and In de-
termining that the fast-spreading fright
was due to Misrepresentation of the title
of the company mentioned In her story of
financial difficulties by a pension office
clerk. AS compared with the business done
on other Fridays. the rush to withdraw
deposits from the trust company yester-
day was slightly above the normal, but
nothing was said about 1t and 1t was
thought that today would see confidence
fully restored and deposits being received
and withdrawn in the usual methodical
way.
But with the passing Of the night the
mischief was done, and a long Zine Of anx-
ious people were at the bank long before
the opening hour this morning. Typical
instances serve to show the effect of the
story as II was spread about the city: One
OF the clerks in a bureau of the Post ONCE
Department was the first to relate the ru-
NOR to - circle of associates this morning
and In an Instant a miniature panic was in
progression II seems that several of the
women clerks had all of their savings in
the care of the trust company-and 1t Is
said that all were so highly excited that
they were unable to continue their regular
duties, and the entire division was excused
10. the day. Another story 10 told that a
trolley car motorman, on one of the early
runs, restrained his tears with an effort,
as he thought of his hard-earned savings
(about $500 being in jeopardy. and that he
abandoned his car altogether and ran to the
trust company as soon as the banking
hours began.
jam in the Corridors.
The corridors of the Washington Loan
and Trust Company building and the pas
sage outside the windows Of the paying,
receiving and other tellers are usually
ample to accommodate the public on bust
ness bent but the jam Of this morning
was like two or three bargain counter
rushes rolled into one, and even the detail
of policemen was unable to keep the an
xious ones always in line.
Soon after the rush began Controller
Ridgely sent his assistant. Mr.. Reeves to
the institution and the latter. after de-
termining that the company was In as
strong a condition 1t was when he made
his semi-Rhnual examination of all Its re-
sources and liabilities a short time ago.
made a statement to that effect to the de-
positors Some few were impressed by
the official nature OF the statement COM
ing as it did practically from the Secretary
of the Treasury. and dropped out of line,
but the great majority chung even more
desperately to their checks and bank books
and pressed toward the windows where the
greenbacks and yellow bills were being
passed out.
II come from the Treasury Department"
said Mr. Reeves as he mounted a stool
in the midst of the crowd ..and l assure
you that this Is one Of the best banks that