New-York tribune., 1908-03-27
OPENS.
DEPOSITS TWO MILLIONS.
Erceed WithdrazcaIs by Half MIL
ion on First Day.

tOU or L " USt lug.
The long looked for reopentng of the hnlcheR-
booker Trust Company took place promptly d'
noon yesterday, according to schedule FROM 'lle
moment the doors opened until the close OF busi'
ness the deposits exceeded the Withdrawals, and
at the end of the day the officers were able 10
announce that the former exceeded the latter by
half a million dollars The total of deposits was
s. 600 900 and the Withdrawals S1.5D,oo OF
this last amount only S5OO000 was withdrawn
personally by depositors. The remainder was
taken out by banks on checks drawn against
the knickerbocker by their clients.
The trust company also paid off its indebted
ness to the National Bank of Commerce,
through which it formerly cleared. Under its
new management the institution Will pay over
it's counters and have Clearing House con-
necton.
There were only a bout twenty persons in line
before the paying teller's window at the main
office of the company, at 34th street and Fifth
avenue, when Clark Williams. State Superin-
tendent of Banks. walked to the centre of the
rotunda and formally declared the institution
open for business AT the hour the paying
tellers in the three other Offices of the company
at No. 66 Broadway, 125th street and Lenox
avenue. and 14Sth street and Third avenue
threw open their wickets and the Knicker-
booker Trust Company resumed payment, after
having suspended for five months and three
days.
There was no appearance Of a run at any Of
the Offices, and the number Of persons at the
receiving tellers windows generally greater
than the number waiting to withdraw money!
Everybody appeared to be in the best of spirits
Many of the old employees had been retained
Flowers were III profusion on every officers
desk
Many friends of the officers and patrons OF
the company called during the day to offer
their congratulations. Charles H Keep the
president. at No. 66 Broadway, but J. T
Brown. the third vice-president, received all
visitors at the main office. Among the directors
present at the opening of the Fifth avenue
office were Herbert L. SatterIee, William A
Tucker, Charles F Hoffman. Frederick G.
Bourne and G. Louis Bossevain. These con-
stituted themselves an impromptu reception
committee
Nathan Rauch. a tailor of No. 123 West 10th
street. the first person to present a check
at the paying teller's window in the Fifth ave-
nue. office. 1t was for S221 and as Rauch was
a non-assenting depositor he could have had
the amount in full. but he merely had the check
| certified and said he would deposi. it in his
bank, The first man TO make q deposi. was
Nathan Harris. editor of a trade paper who
deposited S120 Mr.. Harris said that he was
not one of the asserting depositors, but wanted
to show his confidence in the company
Among the deposits received by the trust
company during the day were several from
large corporations. including one of S3OO,Oo
from the Pennsylvania Railroad Company and
another of 100000 from the General Electric
Company Many of the deposits were received
by mall One of the largest from out OF town
was rernitted by the City Trust Company, OF
Boston. representing New England deposttors-
It was for 100000. The largest withdrawal
for any one account was for $4,000
President Keep called the newspaper men i-to
his office at the close Of the day and expressed
his pleasure the auspicious opening of the COM
pany The day passed off mos. successfully
he said I'VE had no trouble whatever, and 1t
is gratifying to be able to state that we took in
considera bly, more than paid OUT
Herbert L. Satterlee, who counsel for the
depositors' committee was instrumental in for
n1ulating the plan of resumption. said that he
was greatly pleased with the success that had
attended the reopening of the company.
AT the time the KnickerboCker closed its doors
after run of a few hours during which ST.
600 900 in cash withdrawn. it was the sec
ond largest trust company in the country with
respect TO deposits. and this Is said TO be the
first time that an institution of its size has sue
ceeded in reopenng its doors by obtaining the
consents of majority of its depositors to leave
their accounts practically untouched for stated
period.
While the opening occasicned good deal of
favorable comment in financial circles. IL had
been fully discounted SO far as its influence on
the, market was concerned, and the actual re-
sumption yesterday had practically no effect
on prices.
1t was announced yesterday that B. l. Allen.
who was third vice-president before the
organization had been elected second vice pres
idant and that Joseph T Brown formerly sec
ond president, had been made third vice
president H :. Dunn was elected secretary
and treasurer in place Of F. q. King. There are
still two places on the board Of directors TO be
| filed by the voting trustees.
JUDGE BLACKSTONE REMOVED.
Richmond Va. March 26.-The General Assem-
IL. Liz