Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1893-06-09

nave Deeu started on us L cannot un-
derstand. The bank is condu ted on
the soundest financial princip es We
do not speculate. No, sir: the Schaffner
failure had nothing to do with it,, he
answered in reply to a question, NOR
have we applied to anyone for assist
ance. There is llenty of ash in our
vaults to meet al demands"
Substantially the same statement
was secured from Mr.. Miller, another
of the officers of the bank
There was heavy run upon the
Prairie State National Bank and he
Prairie State Savings and Trust Com
pany all day. Both institutions are
located at the southw. st corner of
Desplaines and Washington Streets and
are patronized largely by West Side
business men and mechanics. 10th
concerns are owned and managed by
the same capitalists. When the Coors
of the Prairie Stat. National opened
THIS morning there was large
crowd of people waiting to
gain an entrance. From 9
o'clock until the hour for closing
there was constan, stream of depos-
itors anxious TO withdraw their
money. 50 dense became the crowd
about the cashier window that the
services of a policeman were necessary
to preserve order. The depositors were
arranged in lines leading from the
entrance up and down the corridors to
the cashiers window.
An immense amount was paid out
during the day without any percepti-
bic diminishing in the crowd. Several
times employees of the bank brought in
large sat :heIs Of gold and dumped it
upon the cashiers desk. The bank
officials appear to take the matter
easily and met all the demands made
upon them.
In the general excitement that
struck the public the Hibernian Bank
did not escape, but the result thus far
is not alarming to the officials. run
was started on the bank at j 0 o'clock,
and throughout the day depositors
were paid as fast as the tellers could
count out the cash. The bank has the
right to demand ninety days notice,
but it was not deemed necessary at
present and all demands were D. omptly
met
Early in the morning the demand
for money at the tellers window could
not be called a run, but as the day adj
vanced and wild rumors were circu-
lated on the street d great crowd
thronged the entrance to Ashland
Block and the line of anxious deposit
tors extended from the teller window
to the street below.
There is no occasion for alarm"
said J. V. Clarke president of the Hi
bernian Banking Association. I'VE
have seen this thing coming for ninety
days and are prepared for it, We can
stand any run that IS within reason
and do not anticipate any extended
demands on the part of depositors
We arc t. ling our pltrons to take
the 7 n oney, although we could de-
man mott e."
Aeadowcroft Brothers failure IRE
cipitaJed a run on the Dime Savings
Bank at lO4 Washington Street. But
here, as at the Bank of Commerce, the
run was made Oh ely by the small de-
pOsitors and there was really more ex-
citement on the sidewalk than inside
the bank, a large crowd of disinter-
ested sightseers watching the strug-
Cling crowd inside with morbid
curiosity. President Samuel G.. Bailey
stood on the threshold of the bank and
stopped all those persons whom he did
not know personally to have deposit
inside. Said he to reporter: ''Our
bark is all right, and this foolish run
would never have taken place but
for the Meadowcroft failure this
morning. We have dollar and
a half for every dollar that has
been deposited. We are paying
only percentage to all depositors.
am not at liberty to tell you what that
is Depositors are not al
lowed their full deposits without Civ
ing US some notice. The law requires
min .ty days. But you can say emphat-
icaliy, as coming from me, that the
b nix is all right and will in due time
pay every body in full. We have plen-
ty of cash on hand"