Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1893-05-20
BREASTED The STORM.

time in many years Milwaukee has ex-
per1enced run on one of its banks.
Before the doors of the Plankinton
bank opened n crowd of 800 people
gathered about the entrance and,
from the moment the bank opened
until it closed in the afternoon
the tellers We're kept busy paying out
money. Saving depositors were refused
their money under the rule requiring
thirty days notice before withdrawal
of funds. AT noon the run was virtu-
ally over and confidence began to re-
sumo sway once more. The distrust of
the Planlsinton bank is due 10 the large
amount in which it is involved in the
Lappen failure.
The most conspicuous incident in con-
nection with the run was the arrival of
about 100000 in an express safe from
Chicago. The money was unloaded at
the bank about 11:30 o'clock from an
American Express wagon, and the sight
of the big cash box had reassuring
effect on some of the anxious depos-
itors. The cash came from the Con-
tinental national bank of Chicago,
where the Plankinton had a cash bal
ance of $7T 900, and from several other
Chicago banks having small balances
due the Plankinton. -.
The special train on the Chicago
Milwaukee & ST. Paul railroad which
brought the money was composed of
locomotive and an express car. 1t
made the run in exactly two hours and
fifteen minutes and just four minutes
after the train dashed into the depot
the money was at the door of the bank.
Assistant Cashier Moody, who went to
Chicago to secure the funds, was so
wrought up by the Importance of his
duty that when the money in his charge
was safely in the bank he fell in faint.
From a statement made by the cash
ier to the directors Friday night the
bank had in its vaults Saturday morn.
ing money belonging to it and other
banks to the amount of s600,0OO. One
hundred thousand dollars was re-
ceived during the day from Chi
cago and at a meeting of the clear
| ing house Saturday afternoon g.. it
was decided to take 100000 of the
| banks paper guaranteed by the direc-
tors. This gives the bank 5000, 900 that
is in it's vaults. During the day less
than $4,000 was paid out to depositors
and it was stated by the bank officials
that this had been met by new deposits
received during the day.
The scene in the bank was very in.
teresting., Depositors We're crowded
against the counters, all endeavor-
ing to getin first. and prominent men
in banking and business circles were
delivering short speeches assuring them
of the safety of the bank and their
money. Among those who spoke to
the crowd We're Gov. Peck, Frank Big
Glow; cashier of the First national bank,
and Frederick 7. Day, president of the
Planlinton bank.
DULUTH, Mimi, May 10. = Gill &
Wright, proprietors of the Duluth roller
mills, have assigned to f. w. Paine
cashier of the Security bank. The fail
ure may be attributed to the recent
deal in May wheat at Chicago. The
firm had spread out considerably anC
was in no condition to stand the squeeze
The assets are variously estimated, ac
cording to the valuation placed upor
the mill property, from s75, 900 t.
s12O.OOO. Liabilities, $4,000.
CHICAGO, May 15.-President Zimr
Dwiggins of the collapsed Columbi;
bank views without any great con
Germ the reports from Washington
that he may be indicted by the treasur,
department for peculiar methods
of fnanciering. The report wa
to the effect that irregularities
We're discovered in the banks methoc
of doing business, and that these-'ir
Irregularities" constituted ample ground
for an indictment against the presi
dent. The amount of money involves
in these transactions is said to be a
much as s400, or 100000.
INDIANAPOLIS, Ind, May 10Th
paniclSy feeling caused by the susper
sion of so many banks throughout tn
state is passing away. 1t is possible tina
, there are few more of the countr
, banks that may have to close theirdoor:
|, but the feeling is that the worst is ovel
The many suspensions have not cause
more than ripple of excitement anon
the old line bankers. Money has tigh
{ ened up little, but the best financiel
say there is no ground whateve
, for the indiscriminate talk of til
t danger of u panic. 1ndianapol
bankers express tne oeller tni
, the suspension of this Dwiggins an
q Paris line of banks will result in goo'
; The state authorities. they say, ougl
: never to have permitted such banks
3 do business, and the belief is that
9 the future such banks will be watche
with more care.
There have been in all ten failures
banks in the state as result of tt
, failure of the Columbia national of Ch
cago. First reports of sixteen failur
!. We're unfounded. 1t is announced
y John w. Paris and j. Shannon Name,
this city, that the four banks in whiC
= they are interested will reopen with
: a few days. The Orleans baI
: has been disposed of to Orlea
capitalists and will, it is announce
resume business to-day. The syndica
announces that it has completed 4
d rangements for the reopeuing of t
II other banks in its extensive string
l. is also stated that some of the ban
a operated by Dwiggins and Starbuck
Al. notion Il will INa