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Big Jewish Banking House in Poland Headed by Ex-senator Szereszewski Emerges Unshaken from Panic-str

February 3, 1931
See Original Daily Bulletin From This Date

Jewish banking and economic circles in Poland are much gratified by the manner in which the oldest Jewish banking firm in the country, the Szereszewski Bank, headed by ex-Senator Raphael Szereszewski and his brother Michael Szereszewski, have withstood a panic-stricken rush of their clients, who, alarmed by rumours spread about to the effect that the Bank was in difficulties, besieged the Bank and demanded their deposits back. Practically all of them belonged to the Jewish middle-class population, and in many cases, the sums in question were savings intended to provide dowries for their daughters.

Police had to be called in to restore order. The Bank then mobilised its entire staff in the Deposits Department, extended the hours, and paid out everything in full.

Complete confidence was thus restored after a few days, and many of the deposits have since been paid back into the Bank.

Jewish economic circles feel that in view of the existing economic difficulties in the country, the Bank has by its prompt and effective action saved not only its own prestige but that of the entire Jewish economic structure, and has restored general confidence in the stability of the various Jewish enterprises.

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