The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1893-08-25
THE BANK SITUATION.
The Three National Banks Will Prob
ably Open Sept. 4th.

The Three National Banks Will Prob
ably Open Sept. 4th.
The st. Paul Globe today contained
the following dispatch from Wash
ington:
WASHINGTON, Aug. 23.-All three
OF the suspended banks at Mankato
will resume this week, probably Fri
day morning. Today Comptroller
Eckels received telegram from Presi-
dent John H. Ray, Of the MankatO
National, saying that his bank was
ready to resume, and asking for per-
mission. The comptroller at once
wired the other banks that he would
like all to open at the same time, and
tonight the announcement was made
that all will open their doors this
week. This reopening at MankatO
means more than in most cases, be-
cause they will start with round sums
of cash in their Golfers, and the conf
dence of the people, who have learned
on how solid basis they stand.
A FREE PRESS reporter enquired at
the three banks this afternoon as to
what was known as to the truth of
the dispatch. President Ray, of the
Mankato National bank, stated that
he had sent the dispatch and that his
bank has been in condition to open
for several days, and is now only
waiting for the required permission
from Washington. Further than this
he knew nothing.
President Meagher, of the National
Citizens bank, stated that he had
received nothing from Washington
and did not see how the dispatch
could be correct. =
Cashier Clark. of the First National
bank, stated that he had received no
such information from Washington
as the dispatch contained, and he did
not think the dispatch was correct.
Bank Examiner Brush, who was in
the First National bank when the re-
porter called, stated that he had heard
nothing from Controller Eckels, as he
would in case the dispatch was cor
rect, and that the dispatch was not
true
1t appears that Presidents Willard,
Meagher and Ray met and talked the
situation over Monday and that it
was thought by all that the banks
would be ready to resume by Sept. 1.
That day is Friday however, and it was
thought not to be good time of the
week for opening, so is was agreed
that Monday. Sept. 4, would be a good
day upon which TO ask the controller
to allow the banks to reopen. Another
meeting will be held Saturday, at
which the matter will be fully decid-
ed.
The depositors have generally been
willing to not withdraw their depos-
it's, and if the balance of the certifi-
cate holders will come in there is lit
tie doubt but that the banks. will
open for business a week from Mon
day.
The Peoples bank or st.
Paul opened it's doors yesterday.
The business of the institution went on
as though nothing whatever had &C.
cured. Scores of business men, says
the Globe, dropped in to congratulate
President Rittenhouse upon the re.
opening, but aside from that every
thing went on as usual. Not single
timid person drew dollar from the
bank. There was but little taken out of
any kind, land that was by those whose
actual necessities required them
to secure small amounts of cash. At
the close of the day the record show
ed the deposits handsomely in excess
of the checks paid. There will be no
demand made on the bank beyond
that of ordinary business, and the
feeling of confidence by the deposit
tors is gratifying in the extreme,