New-York tribune., 1907-10-25
RUN IN PROVIDENCE.
Many Withdra1c Funds from Union
Trust t-OfcerS Confident.

Providence. oct. pa steady stream of
depositors passed before the window Of the pay
ing teller OF the Union Trust Company OF this
city for three hours to-day and withdrew the
amounts they had deposited with the institution
The demand began at noon, and when the bank
closed its doors for business at the usual hour
o'clock. there between 100 and I50 de-
positors waiting in line TO withdraw their
savings
While no statement OF the amount withdrawn
from the institution available at the close
Of business to-day. It was generally understood
that the deposits withdrawn were principally
small accounts. ranging from 800 to $4,000. al
though tho bank officials said there were few
Withdrawals that reached the last mentioned
figures.
The officials of the trust company seemed TO
manifest uneasiness at the situation. and
when the bank was closed for business Michael
F. Dooley vice-president and secretary. ad-
dressed the waiting line OF depositors, telling
them that the closing hour had come, but that
If they would return tomorrow morning at
o'clock their demands would be satisfied
An unofficial estimate OF tho number Of per-
withdrawing their deposits to- day placed
the figure at about seven hundred The bank
officials asserted that tho institution was in no
danger. and that it would be fully able to meet
all claims against il
1t is generally understood that the unusually
large Withdrawals reflection of the finan-
cial situation in New York and were aggra-
waited by the fact that Marsden J. Perry. first
vice president Of the institution. is closely con-
nected with the Trust Company of America the
New York institution which for two days has
successfully stood up under a great strain of
Withdrawals.
The Union Trust Company was organized in
1894 with capital Of 100000. Its main head
81 WaStn nd
streets. and it conducts branches at OlneyviIIe
Westerly Central Falls and East Greenwich
At none of the branches there any marked
number of Withdrawals to-day
According to the statement issued by the in
stiution June 20 last. it's total resources were
$2S, ,23S $50 60. The capital stock is S50OOOO and
the surplus S2250O00
The Union Trust Company has always trans
acted large volume of business, and has been
known well and favorably throughout New Eng
land banking circles.
There was absolutely no disorder to-day. Under
the Rhode Island banking laws the officials of
the Union Trust Company may. If they deem 1t
necessary, require every depositor to give ninety
days notice OF withdrawal.
Vice President Marsden j. Perry arrived from
New York tonight and conferred with the off,
GERS of the company. The officials agreed that
there was no cause for alarm. Arrangements
were made to have a large supply or money on
hand in case the demand tomorrow should be
abnormal. 1t was stated late tonight that the
company would make a statement of the situa-
ton during the night early tomorrow
Marsden J. Perry, who has been devotinE himself
10 the affairs of the Trust Company of America
during the last two three days. said yesterday
afternoon that he had particular solicitude as
10 the affairs of the Union Trust Company of
Providence; that the organization unquestion-
aT,la Otlfrl any PriG ISL
that II likely to meet He said he would,
tahe the matter hand ar once.