Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-10-25

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and numbered nearly 800 persons.
AT the Fifth Avenue Trust Company
this morning things were very quiet.
| There was no line of depostors and the
| little annoyance to that institution, ac-
cordng to one of its officers. seemed to
be at end.
Exchange Bank Closes.
The United States Exchange Bank. To-
Gated at q West 125th street. did not open
for business today. Officials of the in
stit,gtion stated that the decision to re-
main closed was simply precautionary
measure They declined to state when
the institution would be opened. The
| concern has a paid up capital of S1o0ooO.
and its individual deposits are estimated
at $3.50 Oe0 1t was established in 1908.
Its presid mt is John j. Gibbons.
| The bank is a state institution and be-
| longs to a chain of financial concerns
controlled by c. w Morse. the lice king,
who was involved in the HeinZe copper
failure.
The bank was recently started. 1t has
a capital of 100000 and a surplus of
$4,000
The statement posted in the bank win
dow, signed by the cashier James ].
O. 'Shaughnessy. read as follows:
"Notice--In consequence of the closing
of other banks and the unusual demands
for cash We have decided to remain closed
for today. The bank is perfectly SOL
vent, but these are extraordinary times,
and we have to resort to extraordinary
measures to protect both ourselves and
our depositors.
The new state superintendent OF banks,
Clark Williams. this morning posted his
first notice on the United States Exchange
Bank 1t read as follows:
Pursuant to the authority conferred on
me by chapter $50 of the laws OF 1877 OF
the state of New York. I have taken
charge of the affairs of the United States
Exchange Bank
In virtue of this notice, Examiner A. T.
Campbell, as the superintendent deputy,
took charge of the bank this morning.
The United States Exchange Bank is
not member Of the Clearing House Asso-
citation 1t clears through the Mercantile
National.
Anticipates Run.
The Borough Bank, at 20 Court street.
Brooklyn. failed to open its doors when
the time came to resume business this
morning. A notice to the effect that the
institution would close its doors tenn
porarily was given out about 8 o'clock,
and quickly the news spread among the
banks depositors.
1t was said that the bank was closed
temporarily because of a wish to avert
run. The institution was founded in 1902,
and its president is Howard Maxwell;
A. D. Campbell.
The bank had paid-up capital of $780,
600, with a surplus and undivided profits
of $149. $50. Due to other banks. 500, 100;
discounts. 80 CSC, 600. Bonds, stocks, etc,
SO. 800. Due from other banks. $3OS, ,83O
Cash and exchanges, $349, GOO.
The banks principal correspondents are
the Oriental Bank and the 'Knickerbocker
and Guardian Trust companies.
The rim on the Harlem Savings Rank
continued today The doors were opened
promptly at 10 o'clock. and the depositOrs
were paid off at the rate of one a minute
Trust Company Trouble.
The International Trust Company at 206
Broadway, this city. did not open for
business this morning.
| This notice was posted on the door:
lowing to the amount of money with
drawn within the past two days and ow-
| ing to inability to procure currency, this
company is compelled for the benefit of
its depositors to suspend payment until
| such time as matters shall readjust them
selves ard confidence has been restored.
| "(Signed) ]. +. BOUkER, Secretary
The above institution has no connection
whatever with the International Bank
Ing Corporation whose main office is in
New York and which has branch in this
city. The banking corpora ton is a gov
ernment depository for the Philippines in
sular bureau and financial agent in China
| for the government.
The First National Bank of Williams
burg, Brooklyn, mas suspended payment
The bank was established in 1852 The
capital Is S3O0,GO0 and the deposits are
estimated at 81. 100000. The bank is a
| member of the New York city clearing
house.
Fatal $4,000 Check.
The Williamsburg Trust Company,
Broadway and Kent avenue, Brooklyn
closed its doors at 1:1J o'clock this aft
ernoon, being unable to cash a check for
| $4,000 The bank has a capital of s7Oo.-
| 600 The liabilities are estimated at So
6T6, Asa.
Failed to Open Its Doors.
Special Dispatch to The Star.
| PROVIDENCE, r. l., October 25.-Fol-
lowing the closing of the Union Trus,
Company this morning runs began on five
additional banks. including the Old Provi-
dence Institution for Savings, the High
Street Bank, the Mechanics National
Bank, the National Exchange Bank and
the Industrial Trust Company. The
Providence Institution for Savings is one
of the oldest savings banks in the state
and is considered one of the most sub
stantial with millions of dollars of quick
assets. The run on it was precipitated by
| women.
| Throughout the afternoon all the insti-
tutions in question continued to get the
| run with promptness. At the Industrial
Trust Company the depositors were paid
in gold, OF which 1t had 100000 In
reserve.
The runs continued at all the banks
named and grew in proportions up to the
days closing hour. The officers of all the
institutions claimed to be confident OF
meeting all demands, and said the bank,
were absolutely solvent.
The Union Trust Company, on which
there was run yesterday, did not oper
for business today at o'clock, the usua
hour.
AS early as O'Clock this morning de-
positors began to form line outside the
entrance to the bank. and half an hour
before the opening time there were more
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