The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1877-07-17
ST.LOUIS.
Hun on.the Banks Continues.
North ~. Louis Savings AssocIa,
ton Closes It's Doors.

ST.. LOUIS, July 16.-At this hour, ten
o'clock, everything at the various banks
Is quiet. There are 4 few ladies at the
BoatmenS Bank taking small deposits
out, and the same may be said Of one or
two other savings institutions, but there
Is no excitement, and no indica tions that
anything that can be called run will be
made on any Of the banks to-day,
CLOSED ITS DOORS.
The North 81. Louis Savings Associa.
tion closed its doors at 1890 a. N. No
statement has yet been made by It's off.
GERS or directors.
BANK OF ST. LOUIS CLOSED.
The Bank Of ST. Louis has closed It's
doors. It's President Jacob s. Merrill
says that the depositors will be paid in
time. This bank should not be coniound
with the National Bank Of 81. Louis,
which isregarded at very staunch insti.
tuition. There are rumors about some
other small Saving Associations, but at
this writing they have not been verified.
ANOTHER RICKErY BANK.
A special to the GIObe.D Democrat from
Louisiana, Mo-. says: Al q meeting Of the
stockholders Of the Pike County Bank to.
day the directors reported that the total
libilities Of the bank were $4,000, net
value Of assetsabout $4,000. Statements
were made that the depositors would re-
ceIve dollar for dollar II time was grant.
ed. The capital Of the bank is $4O0, 900,
with 10 per cent paid in. A majority Of
the stockholders are solvent and
there seems TO be no doubt but the banks
Indebtedness will soon be paid. Depositors
passed resolutions granting the bank six
months 10 pay balances due them proyid.
ing the directors will pay 10 per cent Of
the installments as fast as their assets are
realized upon, and that the directors will
call on the stockholders within 30 DAYS
for such amounts as will meet all Iiabiii.
ties not met by the present assets. A
statement by A. NJ. Weir, cashier, shows
the first speculations made by him were
for the purpose Of trying to make up
some losses by the bank. He also con.
iesses that the two dividends we're paid
out Of deposits, there being no profits Of
which to make dividends.
SMALL DEPosIToRs DRAWING THEIR MON.
EY.
Contrary to expectation, the furry Of
Saturday regarding the condition OF the
brnks did not subside yesterday, but con-
tinued to-day, and was materially
strengthened towards noon by the closing
Of the North St. Louis Savings Associa.
ton and the Bank OF St. Louis. As on
Saturday, however, the persons engaged
in the run were almost wholly confined 10
small depositors Of Savings Institutions
and small shop.keeperS, no merchants or
business men OF any pretentions taking
part in it.
The closing Of the Northern Apsocia.
tion is attributed to the shortage OF SlO-
900 at the clearing house this morning.
The Bank Of st. LOUIS did it's clearing
through the North ST. Louis Savings
BOnk, and when the latter closed it had
S27 900 Of paper belonging TO the Bank Of
St. Louis. This forced the latter to sus-
pCuus 4HC aGbLOh VI Tic NOEku OF. LOUIS
Savings Bank has given rise to severe
comments.
The banks run on to-day were the 4th
National, Provident Savings, Franklin
Avenue, German and Boatmens' Savings
Banks. All Of the current accounts were
promptly met however, and there was at
no time any noticeable excitement, Eve.
rything was done in a quiet manner, and
the crowds, il they can be called such, al
the various banks were quite small. De.
fore noon it was agreed that time certii.
Gates, which were freely paid on Saturday
and early this morning, should be subject
10 the rule OF 80 and 90 days notice, ex-
cept in cases where urgent need Of money
could be shown. This had the effect OF
reducing the demands to considerable
extent and the vigor OF the run was a
good deal relaxed, and several other saw:
iDgs institutions were more or less be.
Sieged, but they all asserted their ability
10 pay all just demands. The CONNER.
cial banks are pursuing the even tenor Of
their way, being very little II any affected.