Los Angeles herald., 1910-05-03
ALL NIGHT AND DAY
BANK STANDS RUN
lTSFR|ENDS RALLY.
President Says 1t Has Ample
Funds to Pay Every De-
poSitor His Money
AGED PATRON DROPS DEAD
Officials Buy Cuffee and Sand
WiCheS for Scores in Line.
Conspiracy Charged

This morning the All Night and Day
Bank had In round numbers $1,250,OOO on
deposit. of which over. $500, 900 was COM
mercial and over 100000 savings ac-
counts. We had on hand in cash in our
bank and others nearly s75O,O00. We
paid out in the savings department
likely $4,000 in round numbers up to 12
O'Clock when 1t was thought best to re-
quire the usual and customary notice on
ordinary and term savings This can be
done by giving a written notice TO the
bank that anybody desires to draw their
savings account or you can come in per-
sonaIly and give IL In writing, just as
they desire. 1t is likely that ip day OF
two the usual notice of withdrawal will
not be required.
During the day we have likely paid
out on commercial and savings accounts
$3.50 Up to $3.50 $25, 900 had been
deposited by depositors of the bank.
From that on until IL o'clock perhaps
about S5O.0eO has likely been deposited,
making "A total for the day of S75 900 de-
posits In all departments. The days
business has not been rs large as the
cath of February, when S180,0O0 was de-
posted and $4,000 withdrawn in the
usual business may. Telephone and per-
sonal calls on the officers of the bank
have been made by persons having money
on deposit, assuring the bank of their
loyalty and offering to deposit more
money tomorrow, one party offering TO
deposit $4,000, another $50, 900, and so
on, from small amounts to large amounts.
The most loyal people were the people
who have loans Mt the bank. people
whose loans were not due for thirty or
sixty days came in and paid their notes,
and others telephoned In and told the
officers that II the bank needed the
money they would pay them Tuesday.
The small depOsitors got In line and
no one was insistent. A great many
people, when understanding the matter
left the line. Others simply came In In
the usual way. except that they had to
get In line. drawing small amounts and
leaving their balance the same as usual
The officers do not estimate that over
900 has been actually Withdrawn
from the bank for the day over the de-
poslts.
new accounts and increased In deposits
over S25 900. The officers have been
doing everything possible to make II
convenient for those who really desire to
draw their money, and even furnished
sandwiches and coffee for those who
were In line. The friends of the bank
and the public have shown their appre-
eiaffon of tha sarvicee randarad tho cou,
munity by the All Night and Day Bank
by mingIing with the crowd md assur-
ing them of their loyalty to the bank.
The directors who were seen, five of
them being present. report that the con-
dition of the bank is perfectly solvent,
and that no person will in any wise lose
a single dollar. They have had hundreds
of offers, asking permission to buy the
accounts from people in the line at a
discount. and the word given to the de-
positors was not to- sell their accounts
/ under any circumstances or to take one
cent less than was due, as there is no
need for 1t.
The savings depositors are only very
few giving the notices, they evidently
feeling that without a doubt the notice
would not be required for very many
days, and they would get their money
sooner by not giving notice than by
giving It, The savings department only
paid out very small amount. requiring
notice as that required by other banks.
Very few savings depOsitOrs were in line,
the most of the people In line being the
small checking depositors with very
small accounts.
We will remain open until f2 o'clock
Saturday night and we win open again
at I o'clock Monday morning. Our
friends are standing Loyalty by us and
we are not allowing the people who will
benefit by our not getting deposits scare
them into drawing their money.
Ever since this bank started II has
been the target of other institutions be-
cause we took care of the people; be-
cause allowed people to do q banking
business any time they desired; because
we became acquainted with our deposl-
tors; because they were so loyal to us,
and because they brought us other de-
pOsitors; because a man could come, to
our bank and borrow $50 the same as
the one who wanted $4,000, providing he
had the security to give for It..
We are In absolutely solvent condition
and there will be no question but what
our friends are going TO stand by us and
not be scared into doing themselves an
injury as well u.s.
Every person will receive dollar for
dollar.
OF the line that il now standing in
front of our bank One-half has not
dollar In this bank, but are holding their
place in line to sell to people who have
been scared by theSe false rumors.
(signed) PRESIDENT AND BOARD
OF DIRECTORS OF THE ALL NIGHT
a A ~