The Wenatchee daily world. [volume] (Wenatchee, Wash.) 1905-1971, 1907-02-22

Of over $100,O was wiped out. Mis-
management was the cause, and the
collapse came on Friday. the 18th
cay Of the month. Needless to say. it
destroyed every vestige Of the super
stition he may have had regarding
Friday and the plumber thirteen.
Brewster had money deposited In
FIVE banks, a transaction inspired by
the wild hope that one of them might
some day suspend operations as5
thereby prove a legitimate benefit to
him. There seemed no prospect that
the bank could resume operations. and
if the depositors in the end realized
20 cents on the dollar they would be
fortunate. Notwithstanding the fact
that everybody had considered the in
stitution substantial there were not q
few wiseacres who called Brewster a
fool ard were SO unreasonable as to
say that he did not know how to ham
die money. He heard that Miss Drew
In particular was bitterly sarcastic in
referring to his stupidity.
This failure caused q tremendous
furry in banking circles. 1t was but
natural that questions concerning the
stability Of other banks should be ask
ed, and it was not long before many
wild, disquieting reports were afloat.
Anxious depositors rushed into the
big banking institutions and then rush
ed out again, partially assured that
there was no danger. The newspapers
sought to allay the fears Of the peo-
pie, but there were many to whom
fear became panic There were short,
wild runs ON some of the smaller
banks, but all were in fair way to
restore confidence when out came the
rumor that the Bank Of Manhattan Is
land was in trouble. Colonel Prentiss
Drew, railroad magnate, was the presi
dent Of this bank.
When the bank opened for business
on the Tuesday following the failure
there was a stampede Of frightened
depositors. Before II o'clock the run
had assumed ugly proportions, and no
amount Of argument could stay the on
slaught. Colonel Drew and the direct
ors. at first mildly distressed and then
seeing that the affair had become Sc
rious, grew more alarmed than they
could afford to let the public see. The
loans Of all Of the banks were unusu-
ally large. Incipient runs on some had
put all of them in an attitude of eau
ton, and there was a natural reluc-
lance to expose their own interests to
jeopardy by coming to the relief Of
the Bank Of Manhattan Island.
Monty Brewster had something like
500, 900 In Colonel Drew's bank. He
would not have regretted on his own
account the collapse Of this institution,
but he realized what it meant to the
hundreds Of other depositors, and for
the first time he appreciated what his
money could accomplish. Thinking that
his presence might give confidence to
the other depositors and stop the run,
he went over to the bank with Harri-
son and Bragdon. The tellers were
handing out thousands of dollars to the
eager depositors. His friends advised
him strongly to withdraw before it was
too late, but Monty was obdurate. They
set 1t down to his desire to help Barba-
ra's father and admired his nerve.
II understand, Monty" said Drag
don, and both he and Harrison went
among the people carelessly asking one
another IL Brewster had come to with
draw his money. mo, he has over
100000 and he's going to leave It,"
the other would say.
Each excited group was visited In
turn by the two men, but their assur-
ance seemed to accomplish but little
These men and women were there to
save their fortunes; the situation WAS
desperate.
Colonel Drew, outwardly calm and
serene. but inwardly perturbed, finally
saw Brewster and his companions. He
sent a messenger over with the request
that Monty come to the presidents pri-
va-e Office at once.
Ito BE Continued.