Perth Amboy evening news. [volume] (Perth Amboy, N.J.) 1903-1959, 1912-02-28
Believing Institution Had
Failed More Than 1000
Foreigners Draw Money.
BIG CROWD AT PLACE
Women Start Rush at 8
O'clock This Mornings Re.
fuse to be Pacified.
PLENTY MONEY ON HAND
Manager Tomaschoff Says
Concern Absolutely Sound
--After Rumor Starter.
PLENTY MONEY ON HAND

Prompted by false rumors con-
cerning the safety of their deposits
in Rosett Bank, over 1000 foreign
ers of this city and vicinity, besieged
the establishment this morning and
withdrew their money. The run ON
the bank started before the closing
hour last night and continued at
o'clock this morning. when forty or
fifty women assembled In front of
the building and cried for their
money. Shortly before o'clock
friend OF Armin Tomaschoff manager
of the local bank. telephoned to him
OF the existing rumors. Mr.. Tomas
chofr then reused his clerks and
threw the doors Of the bank open at
z o'clock instead OF the usual open
Ing time at o'clock.
Tries to Calm Depositors.
When Mr.. Tomaschoff saw the
bowling mob rush Into the place he
tried In vain to assure the deposi.
tors that all was safe The more he
talked the more excited the crowd
became. At last he ordered them to
line up, stating that everyone would
be paid what was due them. From Z
until 3 o'clock this morning ever
$4,000 were paid out. As Mr.. To-
maschom never eeps much over the
foregoing amount at hand he was
forced to eompel the remainder OF
the crowd to walt until after
o'clock. when he secured additional
funds.
When the manager returned to
the banking establishment at 9.30
o'clock the deposttors then seemed
satisfied and cheered him. Through
out the morning the run ON the
plaoa was kept up and people even
as sas awSrr as Railway ionrneyed t0
this city and wiHssdrew thet rnaoney.
\ \ NJ ~ xust osa
tha ah alass . sys9es 1I1xf |aII
eral dayr. buf that 1ls q s{s q ssss ss|slll
not be detrimental fe the buH5n6SSs
Various Hnnaors.
Rumnrs to the effect that Mr.. To-
naschoff had left town, that Hos
setr bank was about to be closed.
that the New York end Of the busf@
ness had failed and others were
prevalent. Mr.. Tolnaschoff thinks
that these rumors caused terror and
fear among the depositors and as
result they rushed to the bank for
their funds.
a telephone cali was sent to the
several factories In this city stating
that 1t would be wise II the foreign
ers would go down to the Rosett
bank and withdraw their money Iii
less time than 1t takes to tell the
report had spread to ali Of the far-
eigu classes who had money there
and accordingly they hurried to the
H. fr a sfs.I ~
The crowd became so large after
6, CLOCK that It was necessary to ask
police protection. The crowd SEEM
ed to imagine that only certain
amount Of money was there and as
soon as that was paid out the rest
would be turned away
VIII Probe the Cause.
No amount Of talk or persuasion
could make the depositors be calm.
Officials OF the bank will spare
neither money nor time to ascertain
the person or persons who started
the runlors
Shortly after O'Clock OFFICIALS OF
| the Perth Amboy Cigar Company no.
tilted the police that 200 of their
g iris had heard Of the rumors and
had determined to storm the hank
To get their HATu earned SAVINGS
Police Sergeant Clarkson Dunhanl
detailed Patrolman Tonneson to the
scene. The girls did not as yet carry
out their threats.
Plenty of Money For All.
Mr. Tomaschon saws he is not
afraid to meet every depositor Of the
local institution for he has the
money on hand to pay them Of as
quickly as thev cerae
About $4,000 was paid out up 10
8 o'lcock this afternoon with nearly
700 others on the outside waiting
their turn. Moritz Rosett and his
son Max and Mr.. Klein. from the
New York office, came here to aid II
paying out the money. The for
eigners by their impatience lose
their annual interest. Another sup
pIv OF finds was brought from New
York this afternoon and all will bo
paid as quickly as possibie.
At one tine this morning the
crowds became impatient and broke
through the back door OF the house.
Mounted Policeman William Hart
mann charged them with his steed.
After this riotous demonstration
Chief OF Police P. ]. Burke ordered
Patrolman Hartung and PatroImaR
Dunham TO assist Hartmann and