Bryan morning eagle. [volume] (Bryan, Tex.) 1898-1909, 1907-10-23
WITHDRAW FUNDS.
Many Depositors Make Run on a
Trust Company.

New York. Oct. 22-There was a
run OF de.osi:cs &C. withdraw money
al ne main Office Of he Knlckerbocker
Trust congsly when Il opened for
business Thursday morning aud $50
al the branch offices OF the compan-
At C6 Broadway and IN one Hundred
and Twcnty-ilfth street. At the main
office there was about seycnty-fve
persons ~ ine and others constantly
arriving Many OF those WHO came Co.
withdraw - ie money were Ue.Cn.
so .G p.0aiwGy there was g.la..l-
able excitement when the Cfticr % .'r
ed for business 4 line of about fifty
persons gathered and made its way
10 the paying tellers windows To
withdraw funds
Second Vice President Allen, who s.
In charge cf the downtown office. gaF
out the following statement. There
Is nothing 10 be alarmed about We
have s. 200 600 cash In the vaults and
are prepared to meet all demands. The
company s perfectly solvent Ar
Allen said fears created by MT Bar
news retirement from the presidency
of the company would soon be- allayed
Bankers. brokers and business % no
generally came down town early 90
prepare for whatever further develop
ments there might bee In the iinauc.a.
/ situation. The feeling OF relief and
/ satisfaction with which these men le
gan the transaction OF business Mon
day was succeeded by considerable
nervousness as the result OF d,Nelo"
ments cunccruiug the knickerboch''
! Trust company.
The clearing house committee wer.
into session shortly after 10 o'clock
Il was announced then debit balance
OF the Mercantile National bank and
National Bank OF North America c.T
neither rer.,rtd M '-..ace OF th
clearin. nC
shortly ..tcr tho m.'r ..s OF thO
KnicEcrhl. TgU-f C-.cny 20
Thirty-four'r street cIer.l for bust
ness danostlrs beam to arrive b
great numbers and a. 1898. o'cloo.
more than $50 peor,. l, in line 81
the payiag teller's w.-|1" Nauy a'
positors came In c.ra".s and 'h
carriage ,.lc extended Cor over bloc
from the bank.
There was q short rnr on the Bror
branch oi the .Nrrho.F'r Tru
company when e CO. "nl ..r ,nsinc
Il was prlaptly stCUr 3rr.F
or two wagons, iruu wH. D vr-' n'
] loaded in view OF waI-a5 q u..i..
q big bundles OF currency.
The news was made public that III
| National Bank Of Commerce gave NJ
, tice II would decline any longer TO nc
as clearing house agent for IN
l Knickerbocker Trust company, an
| the resignation by Charles r. Barne
l OF presidency OF the latter insututio
served % unsettle sentiment NOR
| than the Morse.Helnze development
\ OF last week. The magnitude OF III
business transacted by the knicke
booker Trust company with its depo
it's amounting 20 s60.o00,ooO gave
much more serious aspect to N
y changes made I'm the management tina
did chaue IS In the relatively small'
Morse.H ailZe concern.
Announcement Of Mr. Barney's resi-
nation was followed by a series Of co
ferences ~ financial men at Sherrie
which lasted until nearly o'cloc
Tuesday morning Among those pre-
cnt were !. Pie.pont Morgan and par
ncrs. Geoege W. Perkins and Charl'
Steele. ,Ir. Morgan taking a leadir
mart in the discussion looking TO u
Improvement Of the situation. Thr'
senerate meetings We're held-one 2
the directors az the Knickerbock
Trust Company association and thil
by bankers and fiuanciers general
consider wtat was best TO Dee done.
Al 1880 payments were sioppe
the statement being made the compai
could not obtain money fast enough.