The morning call., 1893-06-07
Showing the Power of
Millions.
HE TALKED TO THE WOMEN.
SO, Presently, There Came an End
to the Run on the Savings
Bank.
Special to THE MORNING CALL.

CHICAGO, June 6.-In spite of the fact
that the Illinois Trust and Savings Bank
remained open until 3 O'Clock this morn-
ing to give anxious depositors a chance to
draw their funds, a new line began to form
before o'clock this morning and at 10
O'Clock, an hour before the opening, be-
tween 1900 and 1900 people were waiting at
the doors with savngs-boOks. The crowd
was several times larger than at any time
yesterday. The bank is considered abso-
lutely sound. The assets are figured up at
| over S2S, 100000 and its stockh holders are
estimated to be worth in the aggregate
fully S150O00, 900.
At the other savings banks the runs
| which began yesterday seem to have in
creased in size.
During the time when the run On the
Illinois Trust Bank was the hottest this
afternoon Phillip d. Armour the million
alre packer, sent out some of his clerks to
bring into his Office hundred or more of
thetmost excited of the depositors, mostly
women. To these Mr.. Armour made
Driet speech, assuring them that the bank
was II right and adding that Armour &
Co. would guarantee to each of them the
full amount of her deposit. If any of
them were not satisfied with this, let them
speak up and he would give them their
money. Two women asked for the amount
of their deposit and were Immediately paid
in gold. while the remainder of the people
went away satisfied.
The Grant Locomotive Works made a
voluntary assignment to-day, with assets
at 81. $4,000 and liabilities only $420, O0O
The cause of the embarrassment is the
TACT that the.company invested all its capt.
tai stock in its plant. 1t has been work
Ing on large order for locomotives and
tied p large amount of money in them.
As they cannot be realized upon until de-
lIvered and as the company has been de-
layed by the strike which has been on for
the past three months, and owing further
more to the stringeDcy in the money mar
ket, the stockholders to-day decided that
all parties interested would be better pro-
tected by putting the property OF the CON-
pany in the hands of an assignee.
WASHINGTON, June 6.-Comptroller
Eckels said to the Associated Press this
morning that, as far as ad vised, no ma
tional bank in Chicago had been affected
by yesterdays financial furry. The Clear
lng-house there stands ready to assist its
members whenever necessary.
An abstract of the condition of the Chi
cage national banks on the date of the
last call showed reserve of 30 45 per cent.
or 4.45 above the legal requirements.
The total resources are 500, ,S64. .804: sur
plus, S11, ,516. 700; undivided profits, 81, ,5O6.-
600.
DEFIANCE, Ohio, June 6.-The doors of
the Defiance Savings Bank were closed
yesterday afternoon just before the close
OF business. This was done by Assignee
Rolla III. Gleason, and many of the stock
holders did not know that such step was
in contempla ton. The bank was the
youngest in town. The assets are not less
than S150.000 and the liabilities are stated
at 100000. The failure is attributed TO
large loans made by the bank, which tie
up some S12z000, leaving too narrow
working capital. Andrew Sauer, the
cashier, also assigned his entire real and
personal property, amounting to 100000
Mr.. Sauer is interested in number of
local enterprises, all of which are included
in his assignment Among them are the
Defiance electric street railway, the
electric-light plant and gas works and the
Citizens Opera-house. valued at $780, 900,
besides con siderable real estate and the
Golden Rule dry-goods house.
NEW YORK, June Ga notice on the
door OF the delunct Canal-street Bank this
morning informed the clamoring crowd of
depositors that the bank was in possession
of the Superintendent of Banks, and an
other notice stated that the bank had gone
into liquidation and the depositors would
be paiG in full.
Boston, June 6.-Potter s. Potter, pub
fishers of The New England Magazine,
Yankee Blade. Woman's Journal and
other periodicals, have made an assign
ment The liabilities are $4,000 to $780,
o00 The firm may resume. The failure
is due to losing business on the New
England Magaz
KoKoMo, Ind, June 6.-The Grand Jury
| investigating the wrecked Paris virgins
Bank of Greentown found indictments to-
night against Ex-Governor Ira j. Chase
and John w. Paris. directors, and Lewis
S. Walden, cashier. The Ex-Governor is
charged with embezzlement and false pre-.
lenses, Paris with the same thing on
five counts, and Walden with receiving
money, knowing the bank to be insnlyent.
and false pretense. Paris and Walden
were arrested tonight, and a warrant has
been issued for Chase, who is lecturing in
West Virginia.
WICHITA. Kans., June Gas a result
OF attachments sued out by st. Louis and
ka nsas City banks the Francis Whitaker
& Sons Packing Company was placed in
the hands of receiver late this evening
No statement is yet obtainabie The at
tachments aggregate $3.50 600. The plant
here is valued at 100000. The firm has
done little business for some time on ac-
count of the high prices of hogs, and the
Board of Trade was preparing to sue for
breach of contract in failing to run the
plant to its full capacity, the contract
| still being in force. Land was donated the
firm by the city.
THREE WENT DOWN.