The morning Astorian. [volume] (Astoria, Oregon) 1899-1930, 1907-11-03

about the great uiUhAc uo"hs'
might have been 100 of them. In the
main small owners Of shops. mechanics
and eierks--thc very first to take alarm
when their saving seem 70 be threatened
When the doors were thrown open the
restless folk on the sidewalk instinc.
lively fell Into Inns. and the bank people
knew that u run was on. Everything
was oSierly. There was no Siolcnf
scenes such ~ the melodrama presents
In thrilling climaxes, no tears nor wiring
Ing OF the hands. just the steadily
lengthenIng line Of depositors that NOV
cd regularly TO the tellers windows with
their bank books open for presentation.
The men stood In one. line and we're re.
ceiyed at one grating and tho women
stepped into the women's room to the
left Of the entrance to the bank and
there formed their line.
The banks doors had not been open ID
minutes when the line Of depositors ex-
tended out Of the doors and down the
steps TO the sidewalk. Then 1t was that
Fifth Avenue and all the traffic that
passes tihe busy 3ath Street corner
knew that something was the matter
with the Kniekerbocker Trust Co. People
riding BY on the Fifth Avenue busses
stepped hastily OF to run into the Wal
lori and get TO the telephone Business
men riding down In their autos TO busi-
ness further downtown had their ma.
chimes halted abruptly and In many In
stances wheeled them about and went
back up the avenue a. fast as the law
would allow. The news was out and Il
spread as fast as telephone wire and
speeding automobile could carry.
Behind the gratings. inside OF the
bank, clerks and tellers were paying out
as fast as they could compute interest
and stamp vouchers. Stacks Of green
currency bound into thousand.dollar
lots, were broached and they dwindled
rapidly. Clerks went to the vaults from
time TO time and returned with arms
full Of notes. piled up like bundles OF
kindling wood.
Before II o'clock the depositors who
live on upper Fifth Avenue and on the
cross streets about the park. began to
come down In broughams. automobiles
and electric cabs. Most Of these were
women, those whose names are familiar
In the society columns and whose hun
bands, are known In the Street, 1t be-
came evident that hunbands taking
fright on the Street downtown at the
fall OF stocks and the reported weak
ness OF the Knickerbocker had telephon-
cd to their wives to withdraw deposits
because they themselves did not dare
leave their offices. The crush Of carri-
ages at the Curb grew SO great before
noon that special policemen from the
traffic squad had difficulty in keeping
order.
Just before noon Joseph I. Brown,
second yiee-president OF the trust com
pany, stepped up on a chair in the mid
die Of the coiled lines Of depositors in
the bank and read from typewriter
paper he held. II was statement from
George /. skinner acting state superin.
tendent OF banks.
"An examination Of the knickerbo:ker
Trust Co, was made by the state bank
ing department Q Sept, ~ the report
read,
"The examiners report showed that
the kniekerbocker Trust Co. had on that
date good assets to the amount of $685.
ss4,522,Ga, with liabilities Of $63,70l,-
53l.7o, giving It q surplus Of $5,ls2,99o.
30.
In my Judgment, based upon the exa.
miners report and the recent conference
at the offices Of the company, the Knick.
erbocker Trust Co, Ia not only solvent
but has a large surplus and a well-esta-
blished capacity. Unusual and incon-
siderate Withdrawals will only tend to
unduly embarrass the intuition"
This statement was concurred in by
M. w. Hutchins, the state examiner.
Some Of the withdrawals were heavy,
said the banks officers afterward. Many
depositors took away currency in $4,000
and $4,000 lots. And then there came
from downtown sudden demands on ex.
change which had to be met In currency
totalling about $5,O00O0O MIR. Brown
later told the reporters.
Several clerks were sent out in auto.
mobiles with orders to bring back cur.
rencN As the banks officials afterwad
said, every available source Of ready
cash for use in the emergency was tried
and nothing could be had. They said
that fhera was about AZ 000. .0C0 In the