Run on a Bank
THE BANK OF ENGLAND TO THE RESCUE. | PEK UNITED PRESS ASSOCIATION. ) London, September 14. The run on the Birkbeck Bank continues. The directors sold half a million worth of consols to supply the demands of depositors. Many of the latter waited all night, and thousands are still waiting. The police are marshalling them twelye deep along the streets. The newspapers are trying to restore confidence. A thief robbed a depositor of £1100 at the moment of withdrawal. Two others also lost large sums, but in the confusion the thieves escaped. Yesterday the sum of .£25,000 was deposited in the Birkbeck Bank. The height of the panic was reached to.day. The Bank of England advanced half a million of money. The run is chiefly confined to the smallest of the depositors. Seven hundred depositors were paid their money to-day, and at 4 p.m. the bank closed, but will reopen to. morrow. There are signs of returning confidence. Latest. The Birkbeck Band had to sell £400,---000 worth of consols more to meet the demand. The amount, however, withdrawn by the depositors on Tuesday was much smaller than on Monday.
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Bibliographic details
Feilding Star, Volume XIV, Issue 38, 15 September 1892, Page 2
Word Count
191Run on a Bank Feilding Star, Volume XIV, Issue 38, 15 September 1892, Page 2
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