Perth Amboy evening news., 1912-11-01
Many People Who
Withdrew MoneV
Replace 1t.
RUN HEkRS END

ilOiS iaLElisC EHSU
Through the efforts of many prom
inent business men of the city, the
unexplainable run on the Perth Am
boy Savings Institution was checked
this morning, and will probably be
brought to a close before the banks
closing time at o'clock this after
noon. Over 100 business men form
ed in line in front of the bank at IL
O'Clock this morning and deposited
sums ranging from S5 to nearly $2,-
600. 1t is estimated that the bank
received from the merchants about
$4,000 in an hour; the business
mems line rivalled the line of ex-
cited men and women who desire to
withdraw their earnings.
Many foreigners became reassured
when the busines men formed in line
carrying large sums of money in
their hands. The run stopped on the
instant and many big holes were
made in the line, which contained
the dissatisfied depositors, which
was nearly city block long early
this morning. 1t formed at o'clock
this morning and did not lose its size
until the merchants appeared. 1t Is
believed by the institutions officials
that many of the foreigners, who
will not be accommodated today, will
realize their folly before tomorrow
morning and allow their deposits to
remain unmolested.
Several men, who withdrew their
savings early this morning, return
ed with the business men and re-
opened their accounts.
Among the men whose faith in the
hank was reassursd on the appear-
anca of tho business men was a de-
nositor who had over $500 in the
hants. If was exnlained To him that
ha would lose s1O in interest if he
Withdraw his account The man de-
o;dad 70 a1Iow Tho account to stand,
and whom he left the line he took six
othar Mon with him.
President LYONS Statement.
Adrian T,von. president of the in.
s+,,ution issued the followip- state
y,ont thie -,,ze.sing to the Lraa
A. ~ 49,, ,c-ss.zyQs -. -, 4,
s,,taa,,t 20 ~ i,ti4s .. pupiH :. !
eefE non ha,. 20 ,ha Xa1a
a1oae eeoE ann ~ al taSut,rnCoa " -
,,,,onortt IN partt hn,hov ,,,ort5 ovaI.
a. 7Eoo ooo otbar nronerfv worth
go cog ooo ara oaeb of S1e7 0oo
MATING a total of over 81 500 00o.
II bod s,,rnlus ove,, amonnts dns
~ 5tau 5ooitora a o of s1no noo these
y,oo,,pts, bauo inoraaee5 eouawhot
80 ~ in-e.t st.ta,,ant
III tba rrraor arose that tho
Nv" 1"S "
~ ,o,1, dirna,o,. - 10
oeoino 90 -.i .ioo" ipoa"'Db ttino tbo+ coon, a.
IN ~ % 'Io9 =. ~ ,ho oa.tt
- is ,ora ~ ep1 thap Ijl,atu tbat II arosa
~ 20 20 80 aon,a stotnr,ant fror, some
ou1 VI 9Jio M 80. ~ bo1IID
pei pftor ho,i,iro hn,re s.tbat tba hank
Voc closed ,, II cannot he accounted
for on anv other thar some such
eillv pround
In tbe Iaet letter from the state
Panktnq Department under date of
Octoher K 1919 giving the result of
their examination the following par
agranb appears. q find this insti-
tuition lawfully and prudently con-
ducfed Every transaction seems to
he carried out with the utmost care.
Tho hoard of management and ali
oft,cere annear TO give the affairs OF
the hanx an unusual amount of at
tantion apd there arc no criticisms
70 No ,nada ;,
VIZ aro fn1Iv nrenared +o meet ALI
demands We have behind us the
verv cordial assurances of the Off
national Rank of Perth kmboy, the
-NotiNhH' ANN''tN