Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1914-02-12
FURRY At BANK
APPARENTLY HAS
COME TO CLOSE
Newark Business Men Ridicnle
Idle RumOrs That Scared
Some of the Dep0sitors.

The run on the Howard Savings
Institution, during which few hund
red depositors, mostly foreigners,
withdrew their accounts, has been
abated it is believed. Many local
business leaders and financiers have
strongly and openly ridiculed the idle
anonymous talk that led up TO the
situation of yesterday.
Many of the persons. who withdrew
their money from the Howard i'm
mediately went to other banks in
this city with it to deposit. but In
nearly every case were told that il
would not be accepted and were in
formed they should have left the
money where it was
Several millions Of dollars in hard
cash will be on hand in the Howard
Bank when the doors open tomorrow
morning. This announcement was
made today by Samuel S. Dennis, the
president. He has arranged to check
any run no matter how great.
The bank has received many as
surances from New York bankers and
financial institutions to send any
amount desired.
AS today is a holiday, the bank,
like all others. was closed Very few
persons were seen about its doors.
Those that did appear tried the doors
and, finding them closed, went away
apparently unconcerned.
One prominent Newark banker de-
clared that If he could not trust the
Howard Savings Institution he would
not trust the United States govern
ment.
Mr.. weingarten's Work.
feature of the checking of the
bank furry was the work of Levi
Weingarten and David Grotta, off,
GERS of Weingarten Brothers, corset
manufacturers. Mr.. Grotta went
among the scared depositors lined up
in the bank yesterday afternoon and
by their assurances turned away more
than a hundred persons.
After banking hours the two men
hurried to their big plant, High street,
and assured their employees, most of
whom are depositors, that the bank
was absolutely safe. They offered to
make good to any one In their en-
ploy who should lose a single cent in
the Howard Savings Institution
Mr.. Weingarten today called several
mass-meetings of the employees In
the different parts of the factories and
again told them of the obsurdness of
the rumors that started the run. The
listened to the addresses of their en-
ployers cheered them and promised to
keep faith In the bank.
Mr.. Grotta who is also president of
the CitE Plan Commission, introduced
resolution at a meeting of the Board
of Trade last night, in which the
board expressed its unqualified conf
dence in the bank The resolution
was passed by an unanimous vote.
Mr.. Weingarten at his factory this
forenoon asserted his belief that the
Howard Savings Institution was
practically as good as the Bank of
England, and said that If his firm
had a million dollars he would de-
post it in the Howard and not with
draw cent of it.
"Mr. Grotta and myself were pass
ing the bank when we saw the crowd
outside and inquired the cause Mr..
Weingarten explained when asked
about his efforts to check the rush.
When we went inside / recognized
many friends, some of them en-
ployees of mine. I gave them my
word that there was absolutely no
cause for alarm. In almost every
case they dropped out of the line,
put their books in their pockets and
went out
Duties of Business Men.
Mr.. Grotta agreed with his col
league He added:
IT think we did nothing more than
every business man should do. 1t IS
the duty of every business man, and
if he does it there will be no cause for
alarm. for practically the majority
of depositors are workingmen and
women employed in the industries OF
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