Evening star., 1907-10-23
early in anticipation that their services
would be in demand.
Millions for Paying Tellers.

early in anticipation that their services
would be in demand.
Millions for Paying Tellers.
I'VE have s70,Oo0,0Oo on deposit" said
President Thorne, ''and the situation
looks promising. We have had many Of
fers of assistance, but 90 not think we
will need them"
When the paying telIers' windows were
opened at 10 o'clock there was $11 ,0O0,OOO
in bank notes and gold piled up in great
heap to meet whatever demands there
might be made
| Unless the crowd comes too thick. ="
commented President Thorne. I'VE will be
| able to pay off every dollar without any
| trouble"
Promptly at 10 o'clock the tellers began
paying out money. The crowd by this
time had assumed enormous proportions
| and was constantly growing. Fully LOCO
persons crowded into the main corridor
of the bank. while several hundred over
flowed into Wall street.
Officers of the company decided to open
third window. where depositors could
be paid in the hope that this would help
to facilitate matters. However, the crowd
became so dense that 1t completely got
| away from the attendants.
Messengers were accordingly dispatched
to the Old Slip police station. and soon
| the reserves were on the scene. They ex-
perienced some difficulty at first. but were
finally enabled to preserve order among
the crowd in the building.
Shortly before 1890 o'clock two of the
paying tellers' windows of the Trust Com
pany of America were closed, leaving only
one window at which deoositors could
III ch fhnfr oh Sln hn nynyd
slowly decreased at one end of the line
formation. it steadily increased at the
other The line outside at this time ex-
tended for more than a block and a half,
from Wall street to William street. thence
down William street to Exchange place.
The other end of the line extended
through the corridor of the Trust Com
pany of America to the Bank of North
America, thence to Exchange place.
Many Rumors Afoat.
The situation has apparently assumed
larger proportions than the banks officers
anticipated, as instead of the crowd being
mostly composed Of clerks and small
business people. many prominent brokers'
and others were noticeable.
Rumors were afioat to the effect that
President Thorne and the other officers
of the bank had appealed to Mrs. Hetty
Green, William K. Vanderbilt, jr. and
others for financial assistance. When
asked if there was any truth in the re-
port. President Thorne merely shook his
head.
At II 80 O clock the crowd had increased
to about 1900. One Of the paying tellers'
windows that had been closed was re-
opened and the depositors were being
paid off from two windows as rapidly as
possible.
George R. Sheldon, a director Of the in
stitution, arrived about II o'clock. Will
liam X. Vanderbilt, jr., reached the bank
a few minutes later.
II didn't know there were 50 many
towards In the world" said Mr.. Sheldon.
Then turning to some Of the waiting de-
positors he added II don't see why yeu
fellows are SO anxious to get your money
out. There is really no reason for any
'sa1r 'arhats what the Knickerbocker Trust
Company people said yesterday" retorted
one Of the dep0sitors.
Mr. Vanderbilt looked over the crowd
curiously as he neared the entrance to
the bank.
II don't feel one bit alarmed" said Mr..
Vanderbilt.
Many of the depositors carried satchels
and suit cases in which to pack their
money Some complaint was made of
pickpockets being in the crowd, ana
call was Immediately sent to police head
quarters for several plain clothes men.
Several persons declared they had oeen
robbed OF small SUMS Oh IIlOflcy.
The Colonial Trust Company.
An excited crowd of depositors waited
for the opening of the Colonial trust
Company, a branch of the Trust Company
of America. BY 1890 o'clock crowd of
nearly a thousand persons had assembled
and many of these were waiting to with
draw their money. Two lines led into the
bank, one extending along Broadway and
far down Fulton street. and the other
down Ann street to Nassau street. Ihe
reserves from the Oak street police sta
ton we're called out to preserve order.
Shorty after the bank opened Its doors
James W. Tappin. the vice president:
made a statement. He said the Trust
institution of the kind in the country:
Any depositor who wanted to do SO couio
get his or her cash in full.
I'VE received ample warning yester-
Knickerbocker Trust Company. which
were Of such a serious nature that we
prepared ourselves for just such an
emergency as this.
Another officer said that they had $1l,-
OOO 600 in cash to meet all emergencies.
Cortelyou at Subtreasury.
Secretary Cortelyou arrived at the sub
treasury at o'clock this morning. and
at once went into conference with Hamil-
ton Fish, assistant treasurer Of the United
States, and Vice President Freeman of
the Merchants Bank. All the morning the
Secretary received an almost continuous
line of callers, practically all of whom
were officers of large banks. Among
them were Samuel Wolverton. president
of the Gallatin National Bank; James
G. Cannon, vice president of the Fourth
National. and William F. Havemeyer. the
new president of the Bank of North
America.
Mr. Havemeyer came from his interview
with the Secretary apparently we'll salts
fed with the results of his talk. When
asked in regard to the situation he said:
II don't know what Secretary Cortelyou
will do about making government de-
posits, but 1 am satisfied that he knows
what he is about and will take care Of the
situation.
To-day Is the last day Of this panicky
feeling. Everything will clear up tomor-
row.
People have lost their heads for mo-
ment-that is the whole trouble. There
was no reason for the run on the Knick-
erbocker yesterday, except the feeling of
uneasiness and dissatisfaction which has
been spread about through the press
Line Formed Early.
The line outside the Knickerbocker
branch at the southwest corner of 125th
street and Lenox avenue, which suspended
temporarily yesterday afternoon, after a
RIM of do