Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1893-06-08
NUMBER 10.
NEARLY A PANIC.
Chicago Banks Experience an Ex-
citing and Busy Day.
All Demands Promptly Met, One Institu-
ton Keeping Open All Night-One
Failure Announced-Busin
Troubles Elsewhere.
FACED HEAVY RUNS.

banks in Chicago was characterized by
str ong 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 full
fiedged panic of no mean magnitude
was Inaugural ted
PAID ALL WHO CAME.
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. II is to the rumor mongers that
the day is indebted for is worst phase.
fitlN AiE HAN hEkS RAIL"
CucAeo, June 6.The private bank
ing house of Meadowcroft Bros, 100
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 L. 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 lia-
bilities at $3.50, 600, and the assets at
Si6O, 600
STOOD THE STORM
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 dcpositor in the line got his
E
until 10 o'clock.
The assets when the bank opened
/ Monday morning figured up S2S, 600, 900.
/ The stockholders are estimated as be-
/ iu1 worth $3.50 600 600 The bank has
not called a loan in nine years
! shortly after the doors of the Bank of
, Commerce were opened run was start
ell 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 a heavy run upon the
Prairie State national bank and the
Prairie State Savings and Trust COM
pany all day. Both institutions are To-
Gated at the southwest corner of Des-
PLANES aud Washington streets and are
patronized largely by west side busi-
ness men and mechanics. The bank
officials appear to take the matter
easily and met all the demands made
upon them.
In the general excitement that struck
the public the Iibernian bankidid not
escape. but the result thus far is not
alarming to the officials.
A run was made on the Union Trust
bank, Of which Stephen w Rawson is
president. The run began about noon
and was kept up during the after
noon.
AT the Globe savings bank the run
keptup all day At p. IN. it was de
eided to take advantage Of the thirty
day notice provided for savings ac-
counts. Vice President Hayes said this
would not have been done had the run
been on that bank alone.
There was Slight run at the Mil
waukec avenue state bank, but the
crowds began to diminish by the close
Of the business day, President Paul
stensland said there would be no
trouble in paying all demands Some
OF the dcpositors after receiving their
money redepositcd il
MANY FAILURES
The Sanausky tO1 Savings bank failed to
open It's doors Mondag rs trouble IS due TO
run experienced Ten weeks ago and some
heavy demands matte within The last few days.
It's assets are placed about $4,000 liabili
ties $4,000
The firm Of Washington Butchers Sons. pro-
vision dealers OF Philadelphia, has failed, but
no statement OF ITS condition Is made The
firm Is rated Us good FOR t3C0000
Potter Potter o. Boston, publishers Of the
New England Magazine Yankee Blade Wom-
an 5 Home Journal American yehicle ana the
Amesbury Daily, have made an assignment
The liabilities are a+-tts4ss 900.
Morris SEVERN. trunk valise and bag manu-.
facturer of New York and Newark, n j., has
assigned. The Liabilities are about $4,000;
actual assets ss00Gl0
Campbell s Co, wholesale dealers ia wooiens
and tailors trimmings al St Louis, have made
"a assignment Assets, ~ 600; Ii. oilities not
stated
Ihe schedules % William T. Patton 60,
Mes York bankers and brokers. show s63s031
I8udNes uomh.al assets. ss53925. actual as
se,9, go 500
The Bank 81 Spokane Falls suspended pay
rperte ET4paau s,afa .,fr raY13taI IL xf50 OOg