The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1910-03-18
BANK IS THE VICTIM
OF DEPOSITORS' RUN
CAUSED BY RUMORS
GOLD AND BILLS IN BIG STACKS
DOES NOT DETER
THEM.
CAN'T EXPLAIN The SITUATION
Money Is Piled Out BY Clerks Just az
Fast as Checks Are Presented but
the Foolish ones Still Continue
to Come.

CLEVELAND. Ohio, March 10
With thousands Of panic stricken de
positors clamoring at its door, the
Bank of the Society for Savings faced
the second day Of a run which ap-
parently has for basis vague rumors.
Ninety per cent. of the frightened
throng that surrounded the building
today were women and nearly all were
foreigners. The bank officials are IN
willing to make any estimate also
the amount of money which has been
paid out, but they reiterate their as
sertion that the bank is fully capable
of meeting all demands, and this as
sertion is supported by B. B. Seymour,
State Examiner of Banks.
The scenes about the bank today
were extremely picturesque. Outside
the long line of depositors, herded by
n hundred policemen, chartered volu-
bly, in half dozen languages. Every
now and then a hysterical woman
would break from the line and make
n dash for the bank entrance only
TO be led back weeping to her place
by one Of the policemen. The pave
ment around the building had been
hastily roped off by the city authori-
eleB and no one was permitted inside
the enclosure aside from depositors. |
Inside the bank the scene was of |
sven sgreater interest The cashiers, |
assisted by a staff Of clerks, were lit
srsiIy ladling out gold, silver and bills
20 the excited men and women who |
JostIed each other around the paying
desks. Conspicuously displayed be-
Aind the clerks was a table on which
was piled one million and half dol
Ears in currency. Bags bullying with
@0in and bundles of bills were Wis
lbIe representation to the voluble mob
of wealth which they had only real
fzed in their dreams.
Statements printed in four Ian
guages were issued by the bank stat
ing that five millions in currency ,
were in their vaults and government
and other bonds to the value of $780, :,
600 900. It was also stated that the ,
bank holds real estate security for
loans amounting to $10yO00,000 The :
officials also asserted that the news =
Df The run had brought offers of as II
;is5ance from financial institutions in ;,
New York and elsewhere and that 9
lalf million dollars in bullion was re- ;
:eived today from the eastern me- y
rorolis. E,
There are $4,000 depositors in the
,ank., drawn largely from the foreign .,
lement of the laboring classes There y
as been, so far, no definite explana- =;
ion given for the run, but it is known =,
hat a man has been going from house .,
D house in the mill district warning g,
he people that the bank was unsafe 9,
nd advising them to withdraw their ~
honey,
Former Governor Herrick, Presi-
ent of the Society, escorted a COM a
littee representing the public at IN
lrge through the bank vaults to-
light The editors and others who n
imposed the committee found that
le $50, ZOO, 900 and more of face value
securities represented an actual
aIue hugely in excess of that -
mount AS no one is permitted to
eposit in excess of $4,000 in one &C
,unt it will take two weeks of steady
ork to pay out the currency now on
md. President Herrick announced
might however, that he believed the
mic to be practically over. thi
fri
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