Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1893-06-10
AFTER THEIR CASH.
Uneasy Depositors Mako Things Lively for
Several Chicago Banks - Heavy Runs
Experienced, But All Demands Are Met,

bdukS III was CIaTdCucTlLeu
strong symptoms of a panic. Much un
easiness existed since Saturday, and |
the doubts and fears among de-
positors had become so far aug
mented, even long before 10 o'clock, |
that crowds, including men and |
women and working girls, found their |
way to the bank doors and were ready |
to improve the first possible opportuni- |
ty to withdraw what money they had
on deposit. AS the day wore on the
crowds increased, and by noon a full
hedged panic of no mean magnitude
was inaugurated.
Savings banks which experienced a
run Monday kept their tellers at work
until all who had been in line up to the
hour of ordinary closing were paid,
and notices were posted on the doors
that the banks would be open for bust
ness at the regular hour this morning.
The panic did not extend beyond the
owners of small savings accounts, but
| there was an intense strain in financial
affairs. 1t is to the rumor mongers that
| the day is indebted for It's worst phase.
| They succeeded in frightening many
| people. Instead of the dozen disasters
| that were talked about there is found
to be but one suspension that would in
ordinary times excite no especial COM
ment or occasion serious trouble. Some
of the banks that had runs did in few
cases take advantage of the sixty-day
limit. But there was no occasion for
the loss of confidence displayed by their
patrons.
CHICAGO, June 6.-The private bank
| irr hn,,sa of MaaIounroft RroS inn
Washington street, at the northeast
corner of Washington and Dearborn
streets, has been placed in the hands of
receiver, being forced to suspend be-
cause of the prevailing monetary strin-
gency. Lyman E. Crandall has been
appointed receiver. Eddy & Walker,
attorneys for the firm. have given an
approximate estimate of the banks as
sets and liabilities. They place the liza
bilities at S25O00O and the assets at
100000.
The depositors began a run on the
Illinois Trust and Savings bank in the
Rookery building early in the morning
and clamored for their money all day
long. The bank made every effort to
pay promptly and the officials expressed
no fear for the result of the demand for
deposits.
This bank kept its doors open until
after midnight in order that everyone
who wanted his money might have it.
The last depositor in the line got his
money at a. m, then the bank closed
until 10 o'clock.
Shortly after the doors of the Bank of
Commerce We're opened run was start
ed which continued for hours. President
Felsenthal says rumorS are responsible
for the run; the bank was conducted
on soundest financial principles, its Off
GERS do not speculate, and there was
plenty of cash in its vaults to meet all
demands.
| There was heavy run upon the
, Prairie State national bank and the
5 Prairie State Savings and Trust COM
, pany all day. The bank officials ap-
pear to take the matter easily and met
, all the demands made upon them.
. In the general excitement that struck
F, the public the Hibernian bank did not
f escape, but the result thus far is not
t alarming to the officials.
5 Meadowcroft Brothers failure pre-.
g cipitated run on the Dime savings
i bank at 1O4 Washington street. But
e here, as at the Bank of Commerce, the
: run was made chiefly by the small de-
t positors and there was really more ex-
i citement on the sidewalk than inside
/ the bank Officials claim to be in a
S position to meet all demands.
A run was made on the Union Trust
d bank, of which Stephen w. Rawson is
o president. The run began about noon
e and was kept up during the after
!. noon.
r At the Globe savings bank the rur
: kept up all day. At 2 p. IN. it was de
S cided to take advantage of the thirty
day notice provided for savings ac
S counts. Vice President Hayes said this
It would not have been done had the ru1
e been on that bank alone
u There was a slight run at the Mil
waukee avenue state bank, but tn,
. crowds began to diminish by the close
of the business day.
:. 1t was wild day on the boart
of trade. The uneasy feeling in th
r financial world invaded the spec
II ulators in grains and provision
and caused temporary panic
n Prices tumbled headlong. The bear
IS could not trade fast enough to keel
+ up with the reducing market. Jul.
IS wheat sold down to 657s, drop o
nearly cents. Cash wheat declined
.e cents and reached a figure lower thai
Is it has sold in the last thirty years. In
e tense excitement prevailed.
% All deliveries of grain and provision
~ suffered in similar manner Septem
ber was mot quite as radical as July
ie 1t opened at 7214, reached 20 and close
h' at 7O1a. while corn and oats We're OF
ie from a cent to a cent and half Porl
- was a very sick commodity. and de
~ clined over dollar barrel with hog
off from 40 to go cents.
All told, the day was disastrou
g. one and even the alarmists did not car
ic to exaggerate the feeling of unrest
lit The market has been weak and il
lie nerves all on edge. 1t has onl