THE KNICKERBOCKER TRUST.
FEVERISH HASTE TO WITHDRAW DEPOSITS. A SENSATIONAL SCENE. Received October 24, 8.16 a.m. NEW YORK, October 23. The Knickerbocker Trust, on which there was a persistent run,-resulting in a temporary suspension, holds deposits valued at £14,000,000. There was a great rush in all branches. The elite of New York arrived at the head office in automobiles and splendid equipages, and tried to rush the doors. The police prevented them. There was a sensational scene inside the office. The cashiers, with immense stocks of notes and coin, paid out £1,600,000 in three hours. Then the vice-president announced a temporary suspension owing to the exhaustion of the currency, though there were plenty of assets. The other banks refused to part with their cash. The Knickerbocker officials at first rushed quantities of cash from headquarters to the branches by means of motor-cars, milk waggons, and Gas Company trucks. Received October 24, 10.28 p.m. NEW YORK, October 24. The Knickerbocker Trust have not resumed payment.
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https://paperspast.natlib.govt.nz/newspapers/WAG19071025.2.25.21
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Wairarapa Age, Volume XXX, Issue 8864, 25 October 1907, Page 5
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164THE KNICKERBOCKER TRUST. Wairarapa Age, Volume XXX, Issue 8864, 25 October 1907, Page 5
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