The evening world., 1907-05-07
RUN ON A BANK
STARTS RIOT IN
SPRING STREET
Depositors in italian Bank
Scared by False Reports
About Concern.

There was run on the ftai'an Bank
OF ihe Cay OF New York, at LAeayet,s
and. Spring streets. to-day that re-
qulred the presence Of tho reserves
from tho Mulberry street station ana
force Of detectives from Headquarters
TO prevent serious panic when the
bank opened more than thousand
shouting Italians 6sAiaged the doors and
Fought their way TO the paying tellers
window.
Though the hank is entirely solv-n,
and has more than 8 800 90 in deposits
the publication Of the fact that one OF
its employees had embezEled small
sum OF money excited the Italian col
ony TO frenzy. An Italian newspo per
made sensational report Of the en-
bezzlement
Refunded the Cash.
The truste~r Of the bank met yester-
day and refunded TO the bank the small
amount stolen by the employee. Then
the State Banking Department was no
udsd and an examiner sent TO the bank
The examiner. according 10 ]. L, Way
land. counsel for the concern. reported
that the institution MAS entirely solvent
and that Its securities were gilt-edgs'l
This atatensnt was posted In tho bank.
but v did not stop the run. -
The conviction possessed the de-
posiiors THAI the bank was In trouble
and they fought each other TO get 10
tho one paying teller's window TO draw
their money out. At this one window
II il only possible 10 pay out 5000 a
lay and the bank had several times
that sum In cash TO meet the run
to-day
when the crowd surrounding the bank
became noisy and manifested an ugly
disposition TO storm the doors. Pollcs
Headquarters was notified. and the re-
serves from the Mulberry street sta
tion sent out Several Italian detee-
uves accompanied the reserves and
went among the excited depositors On
deavorlng TO soothe them and set them
straight as 20 the condition OF the
bank.
Officers Of the Bank.
The hank was organized in 1875 and
the following is list OF its officers
Joseph n Franeolini. President
Domenico salad!no. First Vice-Presi-
dent. Rrcco M. MArasco. Second Vice
President J. T sheyini. Treasurer. and
Pasquale !. samonelli. Secretary
Mr.. WsylAnd attorney for the bank,
said after the run had started to-day:
The theft from the bank W1s very
small and Insignificant The money
was quickly refunded. The publication
OF the def1lrauon waa worded with the
Deliberate Intention OF inJuung tnC
bank and wr4 responsible for the run.
The bank Is ready and able To pay dol
ample cash on hand 10 meet the run sor
several days and It's securities are OF
such a nature that they can be turned
into cash immediately
conplimen the Bank.
\ p wasland. counsel for the oank.
to-day gave ont the following tier is-
sued by one OF the New York state
bank rTa miners;
Gentlemen;
! herewith pftsen, to you a state
mcni OF the assets and liabilities OF
your bank. as found IS me at the
examination jast completed
Considering the deprcClR uon In val
ues Of the securities owned By your
Boo. Tuition ! congratulate you upon
nc condition of your bank since my
last examination IN June. 1905 You
have had a loss by the dishonesty Of
an employee. The amount OF the
loss has been hsCcrtalned by me and
you have made good the entire
amount out of your own private
means without any hope OF repay
mcnt 10 you.
By so doing you arc entitled 90 the
thanks not only Of the depositors.
but also of the State Department,
which have the honor 20 represent.
Yours respectfully.
81 W. HUTCHINS
Joseph n. Francolini. Presdent OF the
hank. Is one Of the most widely known
Italians q New York He Is a member
OF The Boa nj OF Education and was