The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1893-06-06
ALL-NIGHT BANK Run.
A Chicago Savings Bank Paying
Demands Of DepositorA
AND % MAKING MONEY ~ IT.
4 Rsfvsss Bssktsg Csaessn Clssss Iss
Dseye-CsesI Stsess Boah. 81 New
York, desc late LiQuiAsstsa.

Csrc.so. June a-Ths failure OF Her
maa schaaner 4 Co. . bank. which oe-
enrred las. week. bore fsui: today IN the
well defined ruas which were pfecipitated
on almost all. If not every one. OF the saw
tngs banks Of Chicago. The first 10 feel
the effect Of the excitement Vas tae Bank
OF Commerce. where great many Jewish
citizens and the poorer class kept Their
accounts. The schafYnef affair had alarmed
them and they bore down upon the Bank
O. Commerce 1t ths opening hour. The
telle.s we're doubled up and paid checks as
fas. ~ presented throughout the day, the
officials II the bank expressing no alarm
whatever and saying they are able TO meet
any demands.
The Illinois Trust and Savings Bank.
which has larger line Of this class OF de-
positors than any other bank In the city.
amounting al times TO over 81, 000. 90. put
on an extra force Of tellers and paid
every one as rapidly ~ possible. At 5
O'Clock they posted notes on the front
door tha, the bank would remain open Ut!
l0o'cioek tonight and as long n the pres
ent excitement continues. The Hibernian
bank. which. ~ the name implies, was q
depository for . largo number Of Irish
Americans Of small means, was crowded
eli day. bat fouad no difficulty in meeting
al demands.
At midnight the Illinois Trust and Saw.
:ngs bank WINS still paying off. aid the
crowd Of deposisors anxious to draw their
money was still ~ Large a. ever. The
hank officials seem rather pleased than
otherwise to pay out money. as IL
ha
in interest. 30 far the net profit being
about $4,000 At tins hour it was an
nounced that the bank would not close as
out dollar. The payment OF money is
being continued at seven windows, and
President Mitchell said:
Ne will stay right here for three months ana
not close our doors night OF day II such pro.
cesdings should become necessary. We are
god for any ruu. no matter how long Il keeps
up
/. CHICAGO, June 6.--At 30 q. m. the
hank vas still open. the force of paw tell
ers at the seven windows having been re-
i!eved BY fresh men. and enough people
are still waiting for money to keep the
bank open two hours more.
The Dime Savings bank took An advan-
t1ge Of the rule requiring. ii necessary.
sixty days notice Of Withdrawal. and paid
only percentage Of its deposits today.
The Globe Savings bank applies the thirty
day rule. Tho Milwaukee Avenue Saw
ings hank sustained moderate run
throughout the day. and 1t too
kept an open house until 9o'clock tonight.
Equally spirited checking was noted
npon the Prairie State National and the
Prairie State Savings banks, rs we'll a.
upon ths Union Trust Company and
Avenue Savings banks. but in no case was
any alarm felt by well informed people.
depos,tors came In during the afternoon
and made heavy deposits.
Today's situation was greatly aggra-
waited By Q number of Board Of Trade
brokers, who for reasons Of their own. de-
voted themselves to the circulation Of SEN
sationai run,ors, IN which they involved
II one timc or another nearly every bank
In the city and number OF leading stock
yard operators Notwithstanding these
malicious efforts. no fear 10 felt
NJ TO tho safety Of any Of
the leading banking institutions
Of the city. The failure Of
Meadowcraft Bros. a minor institution
with deposits OF perhaps 500. 900. aroused
little or no interest. They were private
bankers and dealers IN commercial paper,
doing a business similar 10 that OF Her
man Sehaifner. who failed on Saturday.
- is one Of Me oldest private
banking firms in the city. The as
sets aad liabilities are not yet known.
An application was made in cour, tina,
receiver he appointed tor the bank on the
petition ut member OF the firm. Tho
cause Of the failure Is stated To be inability
&c reorgan. xe the bank after the death of
one Of the brothers last February. The
bank was established in 1870 by the father
Of the members of the present firm.
The attorneys for the bank place the liza
hilities ~ $40, 0oo. and tie assets at $i1u.-
rsa, The latter consist chiefly of COM
'ncreiai paper which is not readily con-
vortihic into cash.
L. 4 Armstrong & Co. Manufacture.
and dealers N society and military uui.
forms. have failed. with liabilities amount.
to sipb.opo aai assets of xo-s O.,o
The .lrm has been in business here twenty
YEARS. An attachment salt was bronrh,
against the irin on Saturday and TN.
sheriff took possession this morning. Tho
Judgment could have been satisfied nut :.
oshofs y no bad heard of ihs attachment
threatened 10 press their claims il was de-
ciied to assign. The firm claims TIA, ga.
ialas. IS oa.y Temporary.
TIE property "s e. 4. Wcisharh. cloth.
nag and shoe merchant. was seized by the
sheriff his mnraing On Judgment. The
liabilities ne So Go and assets s50osl.
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