The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-06-07
CHICAGO'S BANKS SOLID.
The Heavy Runs Fail to Cause a
Single Failure.

Depositors Of the Illinois Savings and
Trust Bank Paid Until O'clock in
the Morning Before the Doors We're
closed on Mondays Business-The
Run Resumed in the Morning, But
a Restoration of Confidence Appar-
ent in the Afternoon.
Chicago, June ct was after 2 o'clock
this morning before the Illinois Trust
and Savings Bank closed its doors, after
paying the last depositors that remained
in line at that hour. This performance,
it is said, broke the record, it being the
first time in this country, so far as is
known, that bank has remained open
after midnight in order to meet a run.
AS early as o'clock this morning how
ever, another batch of depositors had
made their appearance and they lounged
against the walls or sat on the curbstone
awaiting the regular hour for opening.
AT the Bank of Commerce, farther up the
street, as well as at the Dime Savings
Bank and at the Union Trust and Hiber-
nian Bank the same scenes were enacted.
BY 10 o'clock it was apparent that yester-
days experiences would be repeated at
each institution. At some of them there
were double lines Of depositors extending
for compile of blocks. At others the
crowd extended out into the middle of
the street and those composing it pushed
their way inside as best they could. The
officers of the institutions insisted that
they were able to weather the storm and
with the exception of the Dime Savings
Bank not one has so far found it necessary
even to enforce the thirty days notice
rule, while the latter institution is pay
ing from 20 to so per cent in cash accord
ing to the needs of the various applicants
and require but the usual thirty
days notice for the balance. At
the various national banks it is said that
the Illinois Trust Company, which has
savings deposits subject to notes TO a total
of 10,500 900, and individual deposits
subject to check of 81 100000 more, is as
sound as the Bank of England, and the
officers of the institution insist that they
can pay off every depositor in the savings
branch and still have several millions for
an emergency.
THIRTY DAYS NOTICE REQUIRED.
A run began to-day upon the Globe
Savings Bank, which has savings and in
dividual deposits to total of about $780,
000 It's officers, however, were prompt
in announcing that thirty days notice
would be required and the savings de-
positors had consequently to be content
with giving notice of their intention to
draw out next month.
A large number of those who have
withdrawn their money from banks with
in the past twenty-four hours have de-
posted it in safety deposit vaults, and it
is now almost impossible to secure a lock
box at any of those institutions.
The crowd about the Prairie State
National Bank and the Prairie State
Savings and Trust Company, was even
former institution suffered but little to-
day, however, as the depositors are bust
ness men who have implicit confidence in
the stability of the bank, Both mstitu-
tions met all demands.
This afternoon the crowds surrounding
the different banks diminished and a
measure of confidence seems to have been
restored to the savings depositors. No
body has attempted to assign any reason
for the runs other than distrust.