New-York tribune., 1907-10-26
LONG RUN Is CHECKED.
Trust Company Of America and LIN
coin Trust Pay Al Day.

COSH IL 400 Il VI ~A''
The run or the offices of the Trust Company of
America at No. Sc Broadway, and on the Colonial
branch at Broadway and Ann street, was checked
Yesterday and when the doors were closed at 3
o'clock there We're only few persons left of the
long waiting lines which had beseged the com
pany's offices for three days.
The the main office or the Lincoln trust
Company, at No. 20S Fifth avenue, which began
on Thursday, continued yesterday however. the
company paying rapidly as possible all who pre-
sented claims Oscar Hammerstein who carries
large balance at institution. sent word early In
the day that he had $4,000 in cash which he was
willing to deposit If the company wished 1t to aid
in breaking the The offer was accepted. ana
the money was sent to the bank by automobile.
The officers announced after the close Of business
at o'clock that the company perfectly solvent.
that it's affairs were in excellent condition and that
the doors would be open for business as usual at
10 o'clock this morning
At a late hour last night only about twenty-five
depositors or agents of depostors had formed a
line in front OF the main office of the Trust Com
pany of America They wore numbers in their
hats plan adopted after one or two disputes as
TO precedence. At the Colonial branch one young
clerk formed line all by himself at o'clock, but
ne was relieved a little while later and the line
disbanded. There We're depositors waiting at
the downtown branch of the Lincoln Trust Com
pany, at Lispenard street and Broadway.
There decided decrease in the number OF
depostors in line yesterday at both offices of the
Trust Company of America. and the number stead
lily grew smaller the day passed Many OF
those in the lines the messengers of large
business houses who always visit the bank on
Friday funds for the weekly payroll
Many the depositors paid in gold coin
owing 20 the scarcity Of small bills One Of the
early features of the day individual deposit
of $l.0O0.O00 in currency made by some one whose
name refused. The crowds of sishtseers who
We're attracted by the the first two days
were not numerous yesterday, and Wall street
bet yyeeu Broad William presented it's usual ap-
pearanCe.
Oakleigh Thorne president OF the Trust Com
pany of America. said that more than half OF the
money withdrawn yesterday would in the ord-
nary course Of business have been taken out for
payroll purposes. Somewhat less than 2OoOC0
was paid out against s1O.OOO.oO on each OF
the first two days of the run. while the deposits
Yesterday amounted to more than 10000
At the Colonial branch the line was much smaller
than on the first two days of the run. and by }
O'Clock It had been reduced to a mere handful
The depostors paid rapidly, and no one
seemed be worried about getting his or her
money
James w. Tappin, vice-president OF the Trust
Company Of America. said after the close OF bust
ness that although he would not recommend such
heroic treatment as a rule. he thought the ordeal
would prove 70 have been blessing IN disguise as
II would surely tend 70 increase the confidence or
the public in the bank. He added:
The fact that we have weathered such storm
IS sufficient 10 show the enormous strength and
solidity OF this institution IN way that nothing
else could have done. OF course we VIII lose q lt~
deposltOrs. but In many cases. especially our larger
dcpositors result will be increase In conf
deHce. Already some OF the firms that nave the
largest accounts with have assured us that their
2qeY se6f IN T cheeE aant m Ha Gs oday foT %
called the check before it was paid and gent US
word that they would not draw on us This was
one 81 the biggest concerns In New York
feel thnt 1t is great blessing that we have have
under ~ would have been the signal for general
rrfrRNr Gf tT1g
normal and see no further cause for alarm II
has been terrible ordeal for all Of US. but our
tIcipate much Of a run tomorrow.
At a meeting OF the board OF directors OF the
Lincoln Trust Company yesterday afternoon Louis
stern WAS authorized 20 make the following
statement:
The directors Of the Lincoln Trust Company are
lion to meet every demand that may be made upon
IT, and that the company is In n stronger position
the withdrawal OF funds has been less day by day
B. Aymar Sands a director said the bank was IN
excellent condition and had plenty OF cash on hand
to pay every Arthur Isen, another director
made the same statement Bradsh Johnson. who
is also director said that the directors had been
working Ike Trojans, and that there not the
slightest doubt that every deposItor who wanted
his money would get II.
G. 5 Leonard. state bank examiner who Wis
tied the Office OF the Lincoln Trust Company yes
terdav morning but did not remain long said that
the company certainly solvent The runs at
the branches at Broadway and Lispenard street
and at broadway and 72d street not serious
At the main office crowd OF depositors gathered
last night with the evident intention OF waiting
in line all night. Some brought campstoos TO
make the long vigil less arduous while others
pressed boxes into stools.
Louis Martin. the proprietor OF the Care Martin.
which adjoins the main offices of the Lincoln Trust
Company. AT No. 2s Fifth avenue. announced last
night that he had deposited 5000 yesterday in the
bank and would deposit $4,000 more to-day. He
laughed AZ the idea OF a the company.