The Washington herald., 1907-10-23

ter o'clock this morning they saw a
crowd OF anXous-faced folk budding
about the great bronze doors. There
might have been a hundred of them, In
the main, small owners Of shops. me-
chanics and clerks. the very first TO take
alarm when their savings seem TO be
threatened.
When the doors were thrown open the
restless folk on the sidewalk instinctively
fell into line Ike passengers before a
subway ticket Office at the rush hour,
and the bank people knew that a run
was on.
Everything was orderly. There were no
violent scenS, such as the melodrama
present in thrilling climaxes, no tears nor
wringing Of the hands just the steadily
!engthening line Of dep0sitors that moved
regularly 10 the tellers windows with
their bank books open for presentation.
The men stood in one line. and were
received at one grating and the women
stepped into the women's room 70 the
left Of the entrance 10 the bank and there
formed their line
People in Line Tells Tale.
The banks doors had not been open
fifteen minutes when the line Of deposi-
tors extended out Of the doors and down
the steps 10 the sidewalk Then II was
that Fifth avenue and all the traffic that
passes the busy Thirty-fourth street cor
ner, knew that something was the mat
ter with the KnickerbOcker Trust Com
pany. People riding by on the Fifth ave
nue. busses stepped hastily of to run into
the Waldorf and get to the telephones
business men riding In their automobiles
stiil further down town had their ma
chimes halted abruptly, and. IN many
Instances, wheeled them about and went
back up the avenue as fast as the law
would allow. The line OF people with
bank books I'm their hands. told more
than any scare-head extra The news was
out and il spread as fast as telephone
wires and speeding automobiles could
carry it.
Stacks of Green Currency.
Behind the gratiugs inside OF the bank
clerks and teIlers were paying off as fast
as they could compute interest and stamp
vouchers Stacks Of green currency,
bound into thousand-d0liar lots. were
piled up on counters beside the telleTs one
by one these stacks was broken and they
dwindled rapidly Clerks went 10 the
vaults from time 20 time and returned
with arms fun OF notes. piled up Ike
bundles of kindling wood
Before II O'Clock the deposlt0rs who
live on upper Fifth avenue and on the
cross streets about the park. began 20
come down in broughdms. automobiles.
and electric cabs. Most Of these were
women. those whose names are familiar
IN the society columns. and who's, hus-
bands are known in the street. II be-
came evident that husbands taking fright
on the street down town at the fan Of
the stocks and the reported weakness of
the kHickcrbocker, had teIephoued 10
their wives TO withdraw deposits. because
they themselves did not dare to leave
their offices
Crush of Carriages.
The crush Of carriages at the curb grew
SO great before noon that special police
men from the traffic squad had difficulty
in keeping order.
Just before noon. Joseph T. Brown.
second vice president of the Trust Com
pany. stepped into a chair IN the middle
OF the two lines Of depositors in the
bank and read from a typewriter paper
he held II was a statement from George
L skinner, acting State superintendent
Of banks
An examination Of the Knlckerbocker
Trust Company was made by the state
Banking Department on September T."
the report read
The examiners report showed that
the knickerbocker Trust Company had
on that date good assets to the amount
of $6S,S94522G6, with liabilities of SG3. .T0l
55l.7o, giving Il a surplus of sis. $50 .36.
In my Judgment. based on the examiners
report and the recent conference at the
offices OF the company. the Knickerbocker
Trust Company is not only solvent but
has large surplus and well established
capacity
Unusual and inconsiderate withdrawals
win only tend to unduly embarrass the
Institution %
This statement was concurred in by NJ.
". Hutchins, the State examiner.
When Mr.. Brown had finished reading
this statement there was Weak-hearted
cheer; but nobody dropped out of line.
and the payments continued Some OF
the Withdrawals We're heavy, said the
banks officers afterward
Many depOsitOrs took away currency in
$1,000 and 10000 lots. And then there
came from down town sudden demands
on exchange which had to be met In cur
rency, totalling s5,0oO,oo9, Mr., Brown later
. told the reporters.
Clerks Efforts UnnvaIIing,
Special clerks were sent out IN auto
mobiles with orders to bring back cur
rency As the bank officials afterward
said. every available source of ready cash
for use in the emergency was tried and
nothing could be had They said that
there was about $4,000 in the banks
vaults when the run began. BY noon
about 81. .125.00O was paid out to depositors,
besides the amount called on exchange.
There were still many blocks of bills
on the counters behind the tellers' win
dows when, just before twelve. tele-
phone bell rang in the presidents Office.
A choleTic gentleman of middle age, who
had stood two hours in line, and had
Just reached the teller's window and
handed out his book, when Mr. Brown
stepped to the teller's window and whis-
pered something in his ear. The teller
paused with both hands filled with bills.
Sorry. sir" he said, but the order
has Just come from &C Broadway to sus-
pend payments"
The chOleric man reached both hands
inside of the te!lers window after the
retreating bills. his total deposit. then
he gave way to wrath.
scenes of Comedy and Ira Eedy.