The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-07-20
ALL GOT THEIR MONEY.
The so-Called Run on the Southern
Bank a Farce.

Bank a Farce.
There was slight run on the savings
. department; OF tas southern Bank yoster-
/ day, quite @ number of negroes and q few
anxious white people Withdrawing their
small deposits.
somehow or other, a rum0r became cur
rent among some OF the negroes Of the
/ city yesterday morning that the big red
/ bank, as 1t is known among them, had
/ been closed. How this rumor started is
/ unknown, but it was said on the street
/ that a colored society had passed a reso-
luton deciding to withdraw its small
/ deposit, and when this became known
/ some of the negroes who had small
! deposits there became somewhat excited
/ over the matter
An intelligent colorcd man, well known
/ to the officials was in the bank yesterday
morning, shortly before the bank opened
for business, and in talking to Mr. Cops,
| the bookkeeper, said he had just been in
| the market, where there was cUnsidera-
bic excitement among the negroes
who had small deposits in the savings
department, and ne thought that they
would all be over as soon as the
bank opened to withdraw their
money. This was the first intimation
that the officers of the bank had that any
such step was contemplated on the part
Of the savings depOsitors.
1t was also suggested that the rumor
might have been started from the fact
that during the summer months the bank
does not open for business until 10 o'clock
instead of 9, so as to give the employees
who live out of the city a little more
time On this account there is a sign
on the door saying; "Ihis bank will
open at TO O'Clock" Another sign hung
inside over MIR. MunfOrd's window which
is always posted after 2 O'Clock reads,
Bank closed"
AT any rate the rumOr became current
among the negroes, and when the bank
opened quite a crowd Of them had gath
cred at the st. Julian street entrance, on
which side the Savings department is 10
Gated. They filed in and presented their de-
posit certificates, or their little account
books and demanded their deposits A
number of white people were also foolish
enough to take some stock in the rumor
and also asked for their money. Others
hearing of the runOr made inquiries and
finding that the institution was as solid as
a rock, let their money stay where il was.
Every dollar that was asked for
was quickly paid, but as a matter OF fact
lllt GnblIC duAOuhb WlllhIuNA CuuoGu llO
annoyance to the bank whatever.
How such a report could have started it
is hard 10 say As a matter of fact, the
Southern Bank is regarded as, and is, one
of the strongest institutions in the south.
Eugene Kelly of New York owns ma
ority of The stock in the Southern Bank,
and he is known to be worth in the neigh
borhood of 1000, 600 1t has CORE
spondents at New York, San Francisco,
I1aaia / VrsrGgalg INT nd
Mexico, and is good for almost any
amount for which a demand could be
made in this section.
No further trouble is anticipated to-
day, though if any of the depositOrs wish
to withdraw their savings they will e.
promptly paid. When the closing time
came yesterday Mr.. Sullivan. the cashier,
went out to see if there were any more
who wanted TO come in. Almost all of
the crowd had departed, and the doors of
the bank closed at 2 o'clock. with scarce
dozen of the anxious depositors inside.
A well-knOwn business man, on going to
the bank yesterday, found his cook there
and learning her mission told her to go
home, that her money was safe and if she
didn't get it he would stand for it. She
| went off satisfied. remarking that what
! ever he said was all right.
A prominent Savannah man was walk
ing down DraYtOn street yesterday when
hemet a bulky colored woman all out of
| breath. She stopped him long enough to
ask
"Mister, is the state of Georgia broker"
No" he replied, Nor is the Southern
Bank of the State of Georgia, broke, p" and
she quietly slackened her pace.
The Southern Bank of the State of
Georgia is one of the strongest banks in
the country, for in addition to its 500, 600
capital, $500, 900 reserve and its undi-
vided profits of $4,000, its stockholders
are every Oneliable under the banks char
! ter to the fun amount of their individual
property for its debts
The directors in this city are Messrs.
| John Flannery, Horace A. Crane, f. A.
| We'll, S. B. Palmer, j b. Duckworth,
| Lee Rov Myers, H. p. Smart and J. j.
! Wilder, whose combined personal wealth
represents several millions of dollars.