Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-11-19
EXCITEMENT AbATES
Washington Loan and Trust
Company Run DWindIes.
BUT FEW WITHDRAW FUNDS
Mr.. 7. p. Kane Explains Feeling
Among Depositors.
tzs -
BANK OFFICIALS UND1sruRBED
Will Indefinitely Continue Payments
as Desired-ofers Of Outside
Aid Declined.
BUT FEW WITHDRAW FUNDS
INK OFFICIALS UNDISTURBED

The run" upon the Washington Loan
and Trust Company. which began on FRI
day and continued through Saturday. dwin-
died to meager proportions this morning
and at noon the business had assumed its
normal condition. When the bank
opened this morning about fifty persons
were in line at 9th and F streets, and at no
time during the day did the number wait
ing to receive their money exceed fifty
There was a marked absence OF the hys-
terical feeling which characterized the
crowd on Saturday, and 1t was obvious late
this afternoon that the public confidence in
the institution has been restored.
Numerous reasons have been cited for the
panicky condition of the public mind, which
lead to the mad scramble of Saturday to
withdraw funds from one Of the strongest
financial institutions in the city when there
was nothing but an unfounded rumor, butt
probably no better answer to the problem
has been afforded than that furnished in a
statement made today by Mr.. T. p. Kane,
acting controller Of the currency, when he
said:
1.-THE uneasiness displayed by the unwar-
ranted run upon the Washington Loan and
Trust Company indicates q somewhat nerv-
GUS condition Of the public mind with re-
spect to the safety of their deposits in the
Washington banks. This, in a measure, Is
due presumably to the fact that two saw
ings banks of the smaller class in this city
were recently closed by the controller Of
the currency, having been found to be in an
insolvent condition after examination by
the national bank examiner.
There need be no further apprehension
In this respect, however, as all incorporat-
ed banks in the District of Columbia which
receive deposits or savings accounts
whether operating under federal, state or
District laws. have recently been thor
oughly examined by the national bank ex-
aminer, and all were reported to be in a
solvent condition, except the two that were
closed"
Will Continue Payments.
Oficers of the Washington Loan and
Trust Company today stated that they
would continue to pay out money as 1t is
demanded by depositors, even though the
run continues for a month, and 1t was de-
clared that the bank Is provided with
funds sufficient to meet any exigency that
might arise through another stampede
though nothing Of that sort Is anticipated.
AS rule. the deposits withdrawn today
were those OF small savings accounts, and
while the many people were in line awaiting
their turn at the paying teller's window
there were several rushes, too, upon the
receiving tellers. and 1t was stated that
several new accounts of substantial size
were opened during the day. Though there
were q number Of people on hand to yet
their money when the trust company
opened tts doors this morning, there were
also many waiting to make deposits. Rev
Father D. ]. Stafford of St Patricks
Church was among this latter number, ana
he added to the funds of the church al
ready In the trust company's care by de-
posting several hundred dollars which
represented the Sunday collections and
pew rents. Father Stafford was the first
depostor OF the day. and close behind him
came Mr.. J. J. Darlington.
Aid Not Needed.
President John Joy Edison said this after
noon that he had received fully as many
offers Of assistance today a. were poured
IN upon him Saturday. Local and out-of-
town banks were among those offering aid,
and two particularly gratifying offers came
from two local business men, neither OF