The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1893-06-08

| themselves and did not ask for their
| money. An additional teller was Sc
cured for the bank but there was moth
| ing for either to do. Soon the business
men began making deposits and the bank
was before noon conducting its legitI-
| mate business. One farmer early in the
daylpresented two certificates and a!roll of
bills and SAID, Il want these two put IN
one certificate and this money Also The
cashier proceeded to make out security
In addition to the certificate bat the
farmer did not want it. A lake captain
who ran In here with his vessel went
around to several stores at which he was
owing bills and paid up. but made it a
condition that the money be deposited
IN Schuette's bank. He had some left
and went up and deposited the whole OF
it.
The run was brief one. Every
depositor felt perfectly willing to per-
NIT his deposit to remain If others
would do SO. The policy of the bank
to demand time limit gave deposi-
tors great amount of confidence as
they felt then that no sudden rush
could be made and that the run could
not last. Had the State bank insisted
upon the time limit it would be run
ming to-day The worst seems to have
passed in the large cities, and the ex
element is now only IN the smaller
cities and rural districts. Assistance
can now be easily obtained from Chi
cago, Milwaukee or New York on good |
collateral security. Unless there is |
something to revive it the panic is
over with US, at least, and every one
sincerely hopes it is.
Yesterday afternoon the express
wagon drove up in front of the Saw
ings Bank with large iron chest. |
When this was opened it was found |
to be filled with bags of gold and |
packages of bills. 1t was a novel |
sight to see men Juggling heavy bags |
of gold into the bank. The money |
was unnecessary; the run was over;
confidence was restored and people !
had recovered their senses.
The house of Billy Floyd of Coopers- |
town was broken into on Sunday last |
while he was at church. Entrance was
made through the kitchen window. The
thief was evidently in search of money |
and he ransacked every nook Of the house |
even turning up the bed clothes. But I
he got nothing for his pains. Floyd had |
1000 in the house which he let out the |
day preceding.
He could trace the tracks of the bur-
glar but further than discovering that |
:-e wore large shoes could find moth
ing to identify him. 1t is really surpris- !
ing thai more robberies are not commit
ted during these troublesome times. 1t |
Is known that many people have large |
sums Of money with them on account of |
the general feeling of insecurity and it is
surprising that robberles are not frequent.
THERE are runs on banks throughout /
the entire northwest. The Sheboygan
banks had immunity from the panic I'M
til this week but the craze set in there on
Monday. People seem to have lost their
heads and have no trust IN any bank.
Few banks would fail but for the runs
made upon them as it is impossible for
any of them to have on hand the full |
amount of their deposits. Thus is pre-
cipitated the very thing that people fear !,
the breaking of banks. When a few
rush to the bank others follow as mat
ter of sef-defense and the result is dis
aster. This can easily be avoided if peo-
pie keep their heads The danger is in
creating panic and through it smash
ing concerns which are perfectly sound. |
RUMoRs have great to do with the
panicky feeling existing. For instance
there was a report on Tuesday that |
there was heavy run on Sheboygan
banks, when the fact was there was
no run at ALL Yesterday it was re-
ported that the National Bank of kau-
kauna had failed. The bank didn't |
even have run. There was no earth
ly reason why the State Bank of this
city should have been broken if the |
people would not believe wild stories. |
The fool who starts reports of this
kind is dangerous person. Banks
as a rule are safe if people do not go
to work to break them. People are
actually wolfish when excited on
money matters. 1t is not the banks |
which are unsafe; it is the people who !!
do not tr1lst 0pa ar0t han