The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1893-07-19

were supposed to open their doors for
BUSINESS. The failure OF the savings
banks yesterday had excited the masses,
The eleven clearing housebanks located
within four blocks OF each other were
surrounded, aud far into the streets tho
crowd gathered until officers and spe-
cal police were called out to clear the
way for traffic. At At10o'clock tho Union
National, with a capital OF Sl,O00,OOO.
posted notice that they would not
open their doors. This started the
panic, anu following quickly the Com
percial National posted a similar no.
tico. and then the National Bank of
Commerce, and people asked; "Where
will this stop"
A run was Immediately started on all
Of tho other banks, though to no great
extent upon the Peoples National The
First National appears tobe the soundest
Of all, they having over 60 per cent OF
their deposits on hand, with u private
fund oi Sl,500,00O in addition'to draw
upon, making it impossible to close
their doors. The Colorado Natioual
and sevoval others are in equally as
good condition. The mob withdrawing
their money are all small depositors,
the largo holders being satisfied to let
their accounts remain in the banks.
The banks arc paying all demands OK
cept OH time certificates, they demand
ing that these remain until the expira-
ton Of time. AS every bank Is crowded
tho clearing house is rendering no as.
sIstance, each institution being COM
PEELED to stand alone. At the meeting
OlthO clearing house last night it was
decided not 10 help banks, and so some
Of them went under.
At tho State National Bank, Of which
ID. Mcneil is president, quite a run is
inprogress and large number OF men
and women are in line waiting for their
turn to come so they can get their
money. Tho officers OF the bunk ap-
pear to DO in the best OF humor and
soy they are confident they can weather
the storm.
Up to 12 o'clock everything was
quiet OF tho Colorado National.
"This bank is closed by order OF the
board Of directors," is the notice posted
at every entrance to the National Bank
Of Commerce, Of which Ex-Governor
Job A, Cooper Is president The off,
Gers are inside, but no amount OF
pounding or entreaty has been sufll-
Gent for newspaper men to gain admis-
aOn, The condition OF this bank Is not
known to the general public, as its Off
GERS did not print a statement yester.
day, az wac done by almost all OF the
other banks
John X Hanna, OF the City National
Bank, snid that they felt themselves to
be in us good condition us anybody.
The bank recently borrowed $4,000
from tho east and is paying in gold
this morning.
Several Of the principal depositors
made large deposits this morning and
friends OF the bank arc putting such
sums as they have at hand and can
\ spare Those who are making runs on
Nhe bank are those who have small aC.
counts.
Tho Union National Bank posted
notice explaining that the bank had
paid out approximately $l,0OO,000 TO
depOsltors in the last few weeks. The
notice further stated that the bank had
realized on its securities as rapidly as
possible, but that 1t was not fast enough
tosuit depOsitors. 1t has 81, 600, 900 in
securities and owes approximately
SWNO, 1t Is thought that the bank
will DO able to realize upon its securities
When all depositors have been paid in
iull; Inc bank expects to open again
ior business rs soon as 1t can realize.
The Commercial National bank post
60 tho following notice: CLOSED for
liquidation, by order OF tho board OF d.
IIssS'ors'' The bank was in bad shape.
IL has a capital Of $250,0O0 and had only
&0OO In cash In tho bank.
small dopositors rushed to tho Amer.
lean National bank this morning and
V,egan to draw out their deposits. Tho
american National bank has less small
EESpolltors than any other Of It's capital,
SrVoJUOO, in the city, aa It's dealings
g9Ne been largely men who handled
Slg money, Tho vico president OF the
Da'N slld that those who are drawing
@Shey nro those who paid grocera and
butchers with checks. Tho depositors
money.
Ihe Mercantile Bank, a private in.
SSo.i,uIioh, with capital stock Of $780,.
WV closed Its doors at noon. Tho fall.
YIte was caused by the failure Of the
Vhl9h National Bank, through which
" cleared. o. q. Glrdn, tho ciiy audi.
sor Is president W. L. Robinson, for.
,|It'y ,ln,'y 'reAsureFof tho Republican Pub.
"S"ng Company, ono OF tho Oldest and
iiu''t i.''t respected individuals In tho state,
W., oocn made tho assignee.
rlVu eAcliomDnt and demands upon
h, h,v VAlEs i'lOr money continued una.
ua'ou until nbout . o'clock whon Il al.
,uV'i entirely snblided at ali tho banks
SGN,pn' lhe Utah State National and tho
nVtnah National whore tho linn of do.
li,nH,.o,Ir seemed to Increase instead Of
I"',nsh' I"sh THIS bank is understood to
T,,u special train on the way from
VS"n'@ my bearing 100000, aud tint
m,g,,n reach hero curly tomorrow
s,d,H,, I,r rltst National Bank received
s,n'mm1Wu W Il little after o'clock and
,,,O ,,,o,VyO lnoroaL tho closing honr This
t'mI 5u, nom Now York, llWal money
6u5 6G resident ,diG Moirat for bullion ho
p Jo'l before tho close, tho fnlluro Of
eogn ov IioIHentilo Savings Bank, with a
Np.,W OF 100000 was nnnounecI ne
I'GN nro sufficient to pay NlI lISbIliiiSS
~ mHNWc At3n'clock. the cln,t", t,nnr
in ',D o,,' "ef9 hardly halt u dozen people
a6,y""| 0' tue ias.iiutionu except !hO
- IL NStIa'l, president Of tho First