The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-07-18
THE TROUBLED DEP0sIToRS.
A Continued Run Upon Harrison's
Bank Yesterday and It's Result.
The Proprietor Refuses Aid from the Clear
ing House Fletcher 4 sharpe's
Affairs

Mr.. John @ S. HarTison's methods IN operat
ing his bank are original and unique. Asa re-
suit of the suspension of Fletcher & Sharpe,
rumors became prevalent on Wednesday night
that Harrson's Bank was likely to be subjectedto
greater demands than it could meet without hay
ing time toprepare for them, and meeting of the
Clearinghouse Association was called for yes
ierday morning. to. consider the matter and poss-
IDLY to afford assistance. There was a
hull attendance of all the bankers of the city,,
Out before the business was stated Mr. Harrison
arose and said that if the meeting had BEEN
called to render him aid it might as well ad
iourn, for he wanted none He had run his
bank successfully for thirty years more, and
be rather thought he was still able to look after
It's interests. With a polite and suggestive
Agood morning. Mr.. Harrison withdrew, leav-
ing the other gentlemen to their reflections upon
the uncertainty Of things that were not certain
Mr. Harrison then went down to,
his bank, where there were a number
Of depositors anxiousIy awaiting his
coming. He. made brief but exceedingly
pointed address to them, saying among other
things: 81 know that you are here to get your
money, and am sorry that cannot accommo-
date you. Our resources are ample to pay off
everybody, but we cannot do it in one day. 1
1onlt propose to be pushed to the wall You all
know that thereeis no bank in the, city that can
stand run. and if you. will leave us alone we
will come. out all right You must not crowd
around the bank here; it will create excite-,
ment." Mr. Harrison further explained that he
would pay a percentage on deposits, and relieve
those whose necessities were most pressing but
he did not propose to pay everybody.
SUBSEQUENT DEVELOPMENTS.
Mr.. Harrison,s plan of operations thus indi-
Gated was developed at his own sweet will Dur
ingsthe day he paidin full the accounts Of a
number Of small depositors, and gave others
amounts ranging from $40 to $50. The great MAJ
jority, however, were paid nothing, but were
put off with the promise that If they would call
to-day settlements would be made with them.
During the day there were probably one hun
dred and fifty depositors in, but, so far as out
ward indications went there was no
particular excitement. Mr.. Harrison listened to
what sll had to say and was unusually bland and
polite. His manner was different, however,
toward one or two who were disposed to be ag-
gressive and he cut them off sharply and quick
=
when questioned as to- his intentions by a
journal reporter, he said:. II am doing the best
I can, and think / will be able to pull through.
I think, under the circumstances, that have
done very well to-day. I will be open at the
usual hour in the morning and ready
for business. He declined to make
any further statements, but it is
known, that he told several gentlemen that he
expected to receive large remittance from the
East in time for business to-day During the
afternoon he called upon one or two bankers and
asked for loans upon his personal security, but
he was not accommodated, unless he puteup,col-
lateral, which he somewhat Indignantly de-
elined to do. He was altogether independent in
what he said and did, and at no time was his
good huYnor and placidity disturbed. His CON
duct created general comment among business
men, and various guesses were made as to the
probable outcome.
RULED OUT OF THE CLEARING HOUSE.
At the morning meeting Of the Clearing house
Association resolution was adopted that all
collections from banks owing the institution
should be made before those who We're creditors
were paid. The statement of the day was made
out by Manager Woollen, as follows:
DEBTOR BANKS.