The sun. [volume] (New York [N.Y.]) 1833-1916, 1912-02-17
SIGHT Of SAFE STARTS
ALL DAY RUN ON BANK
Crowd in Line All Night After
Some One Sees Receptacle
Taken Into Place.
PICKPOCKETS START TALE
Manager Says They Took Ad, antagc OF
Taxi lIOldup to Scare DcpoSitorS.
Then Follow Them

Somebody saw burglar proof safe
being taken into Adolph Mandel's private
bank at l55 Rivington street on Thursday
evening and stopped to ask n man in
front of the building what had happened.
The bank has bust" said the man in
Yiddish.
In ten minutes n crowd of 100 had
gathered in front of the bank. Most of
them We're depositors. News travels
fast in the Ghetto. Before midnight
there were 500 persons waiting for the
bank to open in the morning. The police
heard of the unrest. So did the pick
pockets of the neighborhood They told
whoever would listen that the bank had
failed. While the police doubted the
story the manager OF the bank said yes
terday that he believed the pickpockets
had figured out tbat it would be easy TO
follow depositors who withdrew money
from the bank TO their homes. In addi
ton the populace Of the district had been
reading Of the taxicab holdup in Trinity
place and it wasn't hard 20 make folks
believe that bandits had robbed Mandels
bank
Mr. Mandel and his manager. Eudolph
Kanarek. were told on Thursday evening
that there was trouble awaiting them
yesterday morning. Before the doors
were opened there was a line of depositors
stretching into Clinton street. 1t was n
fighting, showing, fretful crowd. and the
police under Capt. Burfeind had TO assure
the anxious depositors and keep them
from rushing into the bank.
Mr.. Mandel and his manager announced
that they would pay all depositors who
wanted their money and that the thirty
or sixty day notice would not be required.
In order to satisfy the demand. of the
depositors Mr.. Mandel kept the bank
open until o clock. or an hour after tho
usual closing time. A sign was hoisted
in front Of the bank saying that it would
open an hour earlier than usual this
morning and that the bank was ready
to pay all depositors
MIR, Mandel said the bank had about
10000 depositors and about 81 .OOO,OO0 on
deposit. According to the law under
which private banks do business he has
on deposit with the State Comptroller
3iOO.oOO. Mr.. Mande has been IN he hank
ing business eighteen years. The bank
does a steamship ticket business and also
handles money for immigrants.
In the first hour yesterday morning
the depositors took out 2S.H0. Auto
mobiles came up with currency and Mr.
Mandel said that he had received offers
of assistance from many hanks. but ne did
not need help. When some of the deposit
tors realized they could have their money
they deposited il again. Mr.. Mandel
said last evening that about $4,000 had
been withdrawn during the day. On the
other hand $4,000 had been deposited.
Part Of the excitement in the neighbor-
hood was caused by the children of Public
School 100, at Suffolk and Rivington streets.
who surged around the bank at the noon
recess and at o'clock. 1t was learned
that the principal of the school had started
a private banking account for some of the
children. but not at Mandel's.
Some OF the depositors sold out their
bank books at a 10 per cent. discount.
When the detectives saw what the specu-
lators were doing they drove them away
Il am sure" said Manager Kanarek,
that the pickpockets have had omethng
to do with this. They have headquarters
across the street and their game as been
to follow customers of the bank who
withdraw money. know Of one instance
where these pickpockets trailed man to
Germany and got 81 500 from him"