New-York tribune., 1912-03-06
half FOR DEPOS|TORS
Crowds Besieging Failed Rosett
Banks Are ReaSSured.
RECEIVER BUSY ON BOOKS
Fifty Per Cent Dividend, It is
Said, Will Be Paid on
Savings Accounts.

/ With careful administration Of the as
sets Of the firm Of Moritz and Max Rosett
whose chain OF banks and railroad anc
steamship ticket agencies failed because
Of run on their Perth Amboy branch, II
is said that the depositors will receive divi-
dends in excess Of 80 per cent.
The assets Of the failed firm consist ot
cash, stocks and bends. valued by Joseph
W. Conklin, state Banking Examiner oi
New Jersey. on February IS, at S705,975
while its liabilities on that day amounted
to s75OliS.
There has been a shrinkage in both items
since that day. due 10 the run. and Mr.
Conklin. VINO was appointed receiver, said
yesterday that the exact condition Of the
firm could not be ascertained until late to-
day, when it is expected that the expert ac-
countants will have completed their ex-
animation Of the books.
Heavy loans made to the Dorian Re-
mountable Rim Company, which is prac-
ticaly owned by the Resets. are said to
have been largely responsible for the in.
ability 10 meet the run on the Perth Am
boy branch.
The run was started by a story circu-
lated in the Slavic and Jewish sections o.
Perth Amboy nearly two weeks ago. shortly
after the bank was compelled by the New
Jersey State Banking Department TO re-
place some OF its assets with cash.
At first the run was quiet. but on Febru-
ary % depositors began to clamor for their
savings faster than the paying teller could
hand out the money.
Moritz Rosett. a man of seventy-two
years. who founded the business over thirty
years ago. with his son. Max, went 10 the
Perth Amhoy branch and aided IN payinG
off the frightened depostors vainly trying
to stem the run.
Last Friday Mr.. ConlSlin was At the bank.
and seeing the LONG llne Of clamoring cred
itors thot stretched our into the street de-
cided that IN justice 70 I'll derositors tho
affairs cf the bank sho"ld he liduidatoa nv
n receiver IN three davs moro th7n en- mn
woe ra'1 ort - ~ums rnnn,n~ from few
6ri'ars ~ 70 e5'h
vce-o-1ov ou tro fo',r ha-re cortror'ed
~ tho Po~A.ts. N Na-Not'ar T'rsHv Ci'v.
Perth h-1bov ord V''irAe-r1--e. Penn.
v-era c'oeeh ard no following notice was
'~~led on tho doors:
Thie riacn i- T., 80 roee,eeion ~ 1oee-N
NJ ror','t- r--j.od sto.-s ~ecntver No
y, ,'orf -o-~a rc--,,t'to1 TO- f''r-N~r iN|n~-
r,ation nn-lv - olco't c~'hor E N-N'an's
~ '7o Broadway attorneys f>r the rH-
ce'ver
Vvrer fhe thrones ~ cvcitcd 5o0ositors.
who ra1 ~ ern--'~~l" ioa~n'd Of t'ro nc
"on ~ the federal court, anoeoroS ~ tho
- rtare h~orANee fho-o w@a ---"6 -ieh
20 4rn Anre- - tNe 'o--v--e vice. - 'Ne'0
---oro roe- cjaere. Who beN qoo-'~'s -~''N
'No Manhattan branch. ~ No p stanton
r--ee1
O,.o- e,--o,, Nv-S~.5 rre- n-d wo--e'
.h-o, ~es -h0 ror-'Ao-- ~ tho f"Nf'~@
,,-l,oro 40 H~,-, ~ a+fr-~.ve We OT7c~~ '~S
., o~I.- r-r~iIv -nA~,a vv~rn ~A~'n1 -
~ ~. e.-tDs -.Nn~e .No f-~or''~~e A'>A
Vt o,~i-,e rro -.,,,-7 rN-''eh rl~l '''rN
ho5 eofn IN Sa,neif v-''N 49, r0sn+ts pleaded
~. ebn 90, hc- y,n~nv - on~o
"r.-, c,oi,o- - ~ r,-a--Ief a~N tho u'o-"''
woe N rive - Nv hveN0rN" shn saH
,,o.-.o, eohg ",Iavhn ho'll not marry ~"
now"
-.,-,. o,.,-,o-.c -~o,,t m NJ 80 Tun-'''
-.-.c. ,,.,,o-n ti,~ v~~.o"s ~n-'-~~'os v~N'"N
-. Tc-n..c CONTROL r~--n cN'T~e w.
r,1.... WIZ N,-~e - v~-o7rr-<-~ Tlor~ '~'-
o,d c-I o~~S F0+r-~ No-''- v''Ne0
- a. =. ~ 4se- >s4St-~- ave~ve we've
-. .,.or .%ot- -.-t~FN-'rrre v-r0-, $40
..-..s .,,,4 ls-v-~f - fhe "o''-ge~ - y
+. .........ti,,r .ra~ rst-~ ~'~~rn' ~''' r."
80 t.4.- --,er. ~ The situation. the crows
fe-ar4eA A..
--,o oo,,.-.,,los ocr'-~''oS ~ '"N Ro@"''s
49, ~, N.o-.L Ar--r.4~an TN'e''N'~~ ''0N7-
-,... .,o rNo~ten De->,o''~'nN'1 p'-1 COM
-,,y ord tro Poeett poa1'~ Comna1T