New-York tribune., 1907-10-26
Sixth Avenue Eighteenth to Nineteenth Street, New York
formerly occupied by B. Altman 8 Co..

his employees of their deposits. offering IL desired
to guarantee the amount of their accounts
The paying off went until o'clock. when the
doors OF the bank were closed leaving a long
day the crowd ulmbered close to eight hundred.
Now and again the police had TO suppress
ruly person, but the whole it orderly
crowd The payment Of small accounts will go
this morning. John ]. Bell. a director, said
that about 100000 had been paid out.
The the Dollar Savings Bank in The
Bronx had its third day yesterday, and about
5000 more withdrawn. making in all about
$4,000. The doors opened and closed at the usual
hours, and at o'clock about four hundred still
waited. About two thousand accounts have been
closed in the three days run.
William NJ Kern secretary of the bank. issued
statement In circular form. which diStrib-
uted with some effect among the depositors The
circular read in part:
So many things are said in the newspapers that
I want TO say word The president of the Dol
tary is William NJ Kern
We do not know how to sail a balloon. but we
do know how to run savings bank and TO be
honest in what We tell you. Keep in line and
win be open from 10 to O'clock eveTy day except
sro3n The % Dollar svE PenB Bank * IS h0ney 70 R 9
a board of trustees (and yoa know most Of them
tees and don't expect TO- as they do Od this work
voluntarily for your good It makes no differ
take 1t out, but i makes difference to you
no savings bank You would have to- carry Tu vonr HP
money around with you and take your chance of
spending 1t, or losing it, having 1t stolen or If
you left it home, 1t might be lost stolen or
burned up.
am not going TO ask you to go home without
your money; on the contrary, come and get H.
But want TO say this We are having hard
times in this city. For over year the people
have not been able TO save up more than they
savings bank. is used by the trustees for three
things: First, mortgages buildings in the
neighborhood second, city and railroad bonds;
third cash for in paying depostOrs. During
cause they could not find a savings bank with
money to spare for the mortgages they wanted.
When the builder shuts down he throws a lot of
men out of work. and makes the times harder
still.
None of the Hamilton Banks depositors appeared
at the opening time yesterday. as IL was well un-
derstoOd that the bank would not be open for
several days. During the day few people stopped
before the institution. looked inside through the
barred windows and went away again.
The Empire Savings Bank opened yesterday. but
paid out money. insisting IN ell cases thirty
days notice OF withdrawal. Isaac A. Hopper
president of the bank said that the Withdrawals
filed on Thursday would amount to between 500
600 and $4,000. He said he expected that at the
end OF the thirty days the depositors would prob
ably decide to leave their accounts. as they did
on a similar occasion in 1928. The number of
withdrawal notices yesterday about half the
number filed the day before.
Mack S. Smith. state bank examiner. continued
yesterday his examination into the affairs or the
Twelfth Ward Bank. at 12Sth street and Lexington
avonu>