It was but natural that questions concerning the stability of other banks should be asked, and it was not long before many wild, disquieting reports were afloat.

Anxious depositors rushed into the big banking institutions and then rushed out again, partially assured that there was no danger.

The newspapers sought to allay the fears of the people, but there were many to whom fear became panic.

There were short, wild runs on some of the smaller banks, but all were in a fair way to restore confidence when out came the rumor that the Bank of Manhattan Island was in trouble.

Colonel Prentiss Drew, railroad magnate, was the president of this bank.
When the bank opened for business on the Tuesday following the failure, there was a stampede of frightened depositors.