The daily morning Astorian. [volume] (Astoria, Oregon) 1883-1899, 1893-06-06

THE SITUATION NOT IMPROVING
Heavy Run Oh Nearly all the Chicago
Banks Yesterday.
ALL DEMANDS PROMPTLY MET
Some of the Houses Kept Open TIL a
Late Hour Brokers Circulated Dis
turblng Rumors.
LII DEMANDS PROMPTLY MET
Associated Press.

Associated Press.
Chicago. June 5.-The failure of Her
man Schaffner ID Company's bank,
which occurred last week, bore fruits
today in we'll defined runs which were
precipitated on almost, II not every
one of the savings banks of Chicago.
The first to feel the effect of the ex-
.citement was the Bank Of Commerce,
wher a great many Jewish citizens and
the poorer class kept their accounts
The Schaffner failure had alarmed
them and they Dor down on the Bank
of Commerce at the opening hour. The
tellers were doubled up and paid the
check as--fast as presented through
out the day, the officials of the bank
expressing no alarm whatever, and
saying they were able to meet any de-
mands. The Illinois Trust & Savings
Bank, which has a larger line of this
class of depositors than any other bank
in the city. amounting at times to
soIoJ eIlxe ue no and OOO'OOO'5T$ .I9Ao
of tellers and paid every one as rapidly
as possible. They posted a notice on
the front door that the bank would re-
main open until 10 o'clock, and so long
as the present excitement continues.
The Hibernian bank, which was the
depository for large number of Irish
Americans of small means, was crowd
ed all day, but found no difficulty in
meeting the demands. The Dime Saw
ings Bank took advantage of the rule
requiring, if necessary, sixty days no.
tice of withdrawal, and paid only a
percentage on the deposits today. The
Globe Savings Panl applied the thirty
day rule.
sustained a moderate run throughout
the day, and they, too, kept open house
until o'clock tonight.
An equally spirited was noted up
An equally spirited checking was
noted on the Prairie State National
and the Prairie State Savings Bank,
as we'll as upon the Union Trust Com
pany's and Avenue Savings Bank, but
in no case was any alarm felt by we'll
informed people. In fact at many OF
these institution the larger depositors
came in during the afternoon and
made heavy deposits. Todays situa-
ton was greatly aggravated by num-
ber of board of trade brokers, who
for reasons of their own. devoted
themselves to the circulation of sensa-
tional rumors in which they involved at
one time or another nearly every bank
in the city, and large number Of
leading stockyard operators. Notwish-
standing these malicious efforts, no
fear is felt as to the safety of any Of
the leading banking institution of the
city. The failure of Meadowcroft Bros,
a minor institution with deposits Of
perhaps $2OO,OOO aroused little or no
interest.
AT 1:3O a. m. the Illinois Trust and
Savings Bank was still open, the force
of paying tellers at the seven windows
having been relievedd by fresh men,
and enough people still waiting for
their money to keep the bank open
two hours more. The bank officials
are rater pleased than otherwise to
saving to the institution in interest.
SO far the net profit is about $4,000.
1t is announced that the bank would
not close as long as single depositor
cared to draw out a dollar. President
Mitchell said:
I'VE will stay right here for three
months. and not close our doors night
or day If such proceedings should be-
come necessary. We are good for any
run. no matter how long It keeps up.
run, no matter how long it keeps up