Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-02-06
PERPETUAL" BACK
TO NORMAL TODAY
CongratuIatory Flowers Bank
Offices as Usual Business
Is Carried On.
Continued From First Page)

ity of the financial institutions of the
city, and urges all its members to sup
press to the utmost all malicious and
unfounded rumors, and to assist the
authorities in every way possible to
bring to light the source of any de-
liberate attempt to undermine the good
name of Washington banks and finan-
cial institution As an evidence of
the organizations faith in the Perpetual
Building Association we are depositing
$1,000 today with that organization.
Mr. Tumulty said he made his de-
post ito give proof of my loyalty to
and my high confidence in the manage
ment of this excellent institution"
Members Of my family" he declared,
have been associated with it as de-
positors for years They, like myself
have confidence in the fine integrity
of those in charge.
This institJ ton will grow and pros
per more and more with the passing
years. Its new prosperity will put 20
shame those who ran and deserted 1t
when in moment of passion they be-
came the victims Of cruel propaganda"
Two Events Credited.
Two events which Perpetual officials
credit with aiding in breaking the run
occurred yesterday afternoon-the GER
emonious delivery of the 100000 in
currency by the Treasury and the
action of George G. Webster, a retired
electrical dealer, and depositor, in dis
tributing more than 100 copies of The
Evening Star to the worried depositors
in line, pointing out that the directors
of this paper had the utmost conf
| dence in the soundnesS of the institu-
tiCn. Webster also pointed out the
| news story on the front page calling at
tention to the reaSsuring statements of
the associations condition by Washing
tons financial and business leaders.
Webster bought all the papers he
could from the neWsboyS in the vicinity
of the Perpetual Building, and then
went to The Star Office for an additional
supply. The mans act was praised by
Frank D. Addison, jr., president of the
Security Savings & Commercial Bank,
who had remained in the Perpetual
Building throughout the day calming
the fears of skeptical depositors.
1t was not long after Webster dis
tributed the papers that the line in the
vicinity of the Perpetual Building began
to diminish perceptibly, And shortly
afterward an armored Treasury Depart
ment truck, escorted by a motor cycle
patrol and secret service men, arrived
with the 5000 600 in currency and de-
iivered it TO the association. This APP
peared to again reassure the worried
and a number of others dropped out of
the line, and when the association
closed its doors, every depositor vino
wanted to withdraw had been paid in
full.
Lecturer Talks to Crowd.
When the currency arrived Mr.. Baltz
and Miss Janet Richards, Washington
l., II IL TOW ut ln inc
ton mounted the counter and pointed
to the pile of crisp new bills telling
those inside the building that the money
was there if they wanted it. Miss
Richards also declared that the de-
positors would be foolish to take their
money out of an institution as safe
and sound as the Perpetual.
Where are you going to put it after
you draw it out?" she asked. In your
stocking I suppose" She said she had
$4,000 on deposit in the association
and intended to leave it there.
News of the Perpetual's return to
normally spread throughout Washing
ton today as quickly as did the false
runners on Wednesday, and hundreds of
persons telephoned their congratula-
tons to officials of the institution. A
number of Others said it with flowers,
and the Perpetual Building was
myriad Oh TOSSSs CdlIldblOllS anu GullpS.
In addition, the District Building
Council, through its Executive Commit
tee sent a message announcing that it
had gone on record expressing com
plete confidence" in the financial sta
bility of the association and in the
ability and integrity of its officers and
directors" The council is the repre-
sentative body of all the "a building and
loan associations in the District having
- At aE ~
Of which, with the exception of cash re-
serves, Is invested in first trusts on
dwellings in Washington. None of the
funds are invested in notes or securities
of other business enterprises.
The search for the origin of the false
rumor about the Perpetual was contin-
ued today by secret service agents, and
headquarters detectives, but no definite
lead has yet been developed. InSpec-