The Washington times., 1931-02-06
BANK RUN ENDS;
CAUSE BEING
SOUGHT
Edward C. BaItz Lauds Those
Aiding in Crisis; Many Re-,
deposit Funds With Company
eve have returned to normal
business conditions"

eve have returned to normal
business conditions"
This was the reassuring state
ment issued today by Edward C
Baltz, secretary-treasurer of the
Perpetual Building Association
Eleventh and E Streets Northwest
For the last two days there hac
been heavy Withdrawals due tc
malicious rumors, which were
without foundation.
Normally Has Returned
In a statement Iauding the aid
OF the press Washington bank
and business interests here for
their aid in showing worried de,
positors that the institution is
stable, Mr. BaltZ said:
"AS result of the unfalter-
ing confidence of the large ma
jOrity of our patrons in the es-
sential and basic SOundneSS of
the Perpetual Building ASsOcia-
tiOn, coupled with the prompt
and generous cooperation of
the banks, the press, and busi-
ness interests in Washington,
today We can report that we
have returned to normal bus1-
ness conditions.
"This cooperation has been a
source \Of constant inspiration
to me and all others connected
with the association during the
past strenuous 48 hours we have
experienced. We are grateful
and "nnreciat:ve. We want to
thank all those who have
helped.
UneasineSS Is Allayed
1--WE believe that the abnOr-
NAL conditions prevailing in the
past two days and the quick
and effective return to nor
malcy have served not only
to strengthen the public's con-
fidence in our institution, but
have served to alIay any un-
easinesS that may have pre-
vailed in financial circles of this
community.
'Tt was not even necessary
for the Perpetual to avail itself
of the financial assistance so
freely offered by the Washing
ton banks through their clear
ing house association. We ex-
pect to participate, during the
coming months, in the gradual
revival of business prosperity
in this community, which we
believe will soon become an as
Sured fact"
Wait to RedepOSit
A number of persons were wait
ing early this morning before the
doors of the institution opened
to redepoSit money taken out the
day before. A number of new
accounts also were opened by in
dividuals and organizations con
vinced of the stability of the as
sociation. Chief among these new
ccounts was one for $1,000
opened by the Washington Board
of Trade.
Police yesterday afternoon at
tempted to safeguard depositors
from pick-pockets. They were
successful except in one instance
A man, wishing to withdraw the
money he had in the institution
reached into his pocket for his
wallet with his paSSbook in ii
and discovered that some light
fingered person had stolen it. He
then decided that his money
would be safer in the institution
than in his pocket.
Run Being PrObed
Information, believed to estab
lish identity of the person who
started the run" on tho. Per
petual Building Association. was
turned over to Governmental
agents, Mr.. Baltz revealed last
night.
Since Withdrawals of deposits
started Wednesday mornin g
agents of the Department. of Jus
tee, members of the United
States Secret Service, and Wash
1agton headquarters detectives
have been trying to run down the
source of the rumors. p
Rewards totaling $4,000 have
been offered for the capture and
conviction of the person or per
sons who started the viciou.
rumors concerning the institu
fio1o