Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-05
UNLIMITED CASH
D|M|N|SHES RUN
New Accounts and Number
OF Renewals Reported
by Perpetual.
Continued From First page.)

Continued From First pagel
900 included the $500. 600 which Robert
v. Fleming, president Of Riggs, sent to
the association yesterday afternoon, and
returned last night when 1t was not
needed.
Association ofncials announced that
$500, 900 was withdrawn yesterday and
$4,000 deposited or redeposited. The
associations assets as of December 81,
1880, 1t was explained, amounted TO
$24,7l6,52l.
81 New Accounts Opened.
Off1cials of the association also de-
elared that in spite of the excitement
and 800 deposits were made, which
closely approached the average of a
normal days business.
Among the FIRST of the new accounts
opened today was that OF Michael Kap-
neck. an electrical dealer of 736
Eleventh street, who deposited e2,l93e6.
Isaac Cans, former president of the
washington Chamber Of Commerce and
. prominent civic leader. opened an
account saying he had wanted to do SO
for some time and thought the pres
ent was the most opportune time.
Another large account reported by the
association amounted to $4,000. This
money was drawn out yesterday by q
business man, whose confidence in the
association was restored by the assur-
ances from Washington's financial In
situations that the organization was on
solid foundation.
Bankers Held Conference.
Soon after the run started yesterday,
Treasury Department oificlals and presl
dents of prominent banking institutions
hurried to the associations Office to CEN
fer with IFS officers. In this group were
John w. Pole, controller Of currency;
Robert ". Fleming president Of Riggs
Bank John Poole, president of the
Federal-American National Bank g.
Trust Co., and United States Bank Ex-
arniners Chorpenning and Stewart.
After this conference the bank presi-
dents announced that the association
was sound and that there was no reason
for fear. In support of this Mr.. Flem-
ing opened satchel containing 100000
and displayed the contents to the crowd
In the lobby OF the building.
Radio also has been used to restore
public confidence In the association.
Frank @. Addison, jr., president of the
last night broadcast q message in which
he emphasized the soundness Of the
institutions condition. At ii o'clock
this morning similar message was
broadcast over VOL by A. Milton Bod
fish, executive manager OF the United
States Building and Loan League.
The depositors seeking to close out
their accounts began. to gather around
the associations building at Eleventh
z akr
morning and the crowd was augmented
slowly until the doors were opened at
O'Clock Police from the first pre-
cinct formed the crowd into single
line, and the depositors were permit
ted to enter the building two, three
and four at O time, as others came
out.
No Evidence Of Disorder.
At no time was there any evidence
Of disorder. An improvised frame bar
ricade had been erected In the center
Of the building which guided the de-
funds They left on the other side
of the barrieade and caused no con-
fusion with those entering.
The crowd In line appeared to be
in good hunior, and only in a few in
stances were there expressions on con-
Germ over their accounts. Near the
head of the line was d colored woman
who had been there since 6 o'clock this
morning, who was outspoken in her
denunciation of the perpetrator OF the
false ruinor of the associations con-
dition. People who start rurnors like
these" she declared, Ought to be put
in JAIL
Directors Offer Rewards.
Directors OF the building association,
as individuals, have offered rewards
totaling 81 1000 for information leading
to the source Of the false reports.
Thus far, however, no definite i1for-
nation has been received as to the ac-
tual pefpetrator, although the Secret
Service men, it was said, have been
given several tangible leads One of
the reports was to the effect that the
for 4 loan who had been turned down.
Police headquarters reported that
three telephone calls were received
there from women yesterday who par
ticipated in the spread Of the false re-
port.
Association officers feel confident
that the report did not originate among
any Of It's borrowing customers. Out
OF 6,t60 customers who obtained loans
they explained, only the negligible
number Of 10 failed last year to main
tain regular installment payments. The
Ia properties affected, 1t was said, were
resold or rented, so that the money
loaned is being returned to the associa-
ton treasury.
Line Forms Before Doors.
The rufnor which led to the run APP
pArefltly started just before noon yes
tefday. reports today indicated that
an efliploye OF the Post once Depart
nnert was one Of the f1rst who ex.
pressed doubt concerning the affairs Of
the Perpetual BY o'clock The Star
switchboard was swamped with calls
from persons asking whether the in
stitution had closed A Star reporter
consulted with officials of the company
who assured him that there was no
foundation fof. the rufinof. 1t was de-
cided not to give out a statement. But
the calls continued and by 2 o'clock
d line was beginning to form before
the doors of the institution, at Eleventh
and z streets. As many depositors
crowded into theepuilding. just - many
others railled a-1und outside, appar-