New-York tribune., 1907-10-27
CONFIDENCE IN KINGS.
Depositors Pick Up Courage as
Demands for Cash 4re Diet.

Almost every banking institution in Brooklyn was
obliged to Withstand exceptionally large withdraw
ais yesterday. But they did Il successfully, and
the leading fnanciers in that borought last night
said they confidently expected that the tension
would be relieved by tomorrow that the situa-
ton would improve rapidly. It a tribute TO
the strength OF the institutions which wlthstood
the strain, which In some instances reached the
proportions of In spite Of the fact that Satur
DAY is always a heavy withdrawal day in many of
the Brooklyn banks, because OF the many pay rolls
that have TO be made up. some OF the banks
ported that their deposits had exceeded the with
drawals for the day. The suspension of one small
state institution. the Terminal Bank. had little ef
feet on the general situation.
In the middle afternoon there "A conference
OF trust company presidents in the Brooklyn Club.
Most OF the trust companies were represented It
stated that they had met for the purpose OF
exchanging experiences during the day. 1t was
thought that of the companies might ask
for assistance. but not single request of that
character made. This may be taken to indi-
cate that every institution expects 10 be able 70
meet all demands Monday. The Brooklyn in
sttutons have always felt the lack OF central
body like the New York Clearing House. and there
had been some talk that steps might be taken 10
form some cooperative organization along clearing
house lines IN Brooklyn This subject not
taken up yesterday. however.
SAVINGS BANKS PAY SMALL SUMS.
AL OF Ihe brooklyn savings banks put into enect
the rule making il necessary for depositors TO give
notice-some sixty. some ninety days-before they
could make Withdrawals. All the banks, however.
allowed depositors who could show they had need
Of the money to get SIS $50 without giving no.
tice. This rule was evidently a wise one because
there were several hundred persons at the larger
savings banks and large numbers In proportion
at the smaller banks who wanted withdraw
their money. Many Of these people went away.
however. without asking for their deposits when
they were convinced that they were perfectly safe
and that It would be folly lose their interest by
removing their capital
On the advice and at the request of the New
York Clearing House all the Brooklyn banks and
trust companies will on Monday pay by check
the Clearing House Clearing House banks,
wherever it is possible so to do There was a sug-
gestion that the trust companies should take some
concerted action in refusing pay any person
more than proportion Of his account but this
was frowned being unnecessary.
The state bank examiners were busy yesterday
on the books OF the borough and the BROOKLYN
banks and In the Williamsburg and Jenkins trust
companies. j. W. Scofeld in charge OF the
FIRST National Bank Of Brooklyn as receiver.
The directors of the Borough Bank were in ses-
sion from o'clock in the afternoon until long
after o'clock. 1t is understood that the affairs of
the bank have been found in such shape that il
VIII be impossible 10 resume business on Monday
as one OF the officials had announced they had
hoped to do
The suspension OF the Terminal Bank at No 81
Sands street, the announcement OF which was
made before the banking hours was not unex-
pected, as it affiliated with tho Williamsburg
Trust Company. its clearing agent and depository
which suspended Friday. The institution is
said to be perfectly solvent, but unable to get
ready cash. William p. Reid the president Is a
vlce-president OF the Williamsburg Trust and
Frank Jenkins. president OF tho latter is a d.
rector Tho Terminal Bank has q capital OF
1900. deposits of $4,000 and surplus of $4,000
Two institutions which withstood heavy with
drawals successfully the Nassau Trust Of
which Andrew T. Sullivan is president and The
Home Trust of which former Borough President
J. Edward Swanstrom is president The line OF
depositors at the latter institution extended down
toward Clinton street, from the middle OF Montague
street, half block. When the doors were closed
at noon many had not been able to reach the paw
Ing teer's window. In spite of this the bank
closed the day with more cash on hand than when
IT started. according TO Thomas p. Peters. one
Of the directors. Tho conditions have greatly I'm
proved" he said.
I'VE hopeful that the people may be patient
and reasonable at this critical time" said Mr. Sui
livan. president of the Nassau Trust Company
Our concern, and believe all of our local tnsti-
tutions are in a sound and solvent condition. The
FUNDS or their depostors safe and will be paid
IN fuil The unusual pressure all the banking
institutions must be Injurious TO ALL"
An official OF the Franklin Trust Company which
has felt the currency stringency less than many
of the Brooklyn institutions said last night: eft
was the usual Saturday with Us although there
were some Withdrawals OF cash due to the general
unrest and evidences that cash Is being locked uu
in safe deposit vaultA