The times. [volume] (Richmond, Va.) 1890-1903, 1893-06-06
Continual Drain on Chicago and NIL
VaUkee Institutions,
IrUgBER OF FAILURES ANNOUNCED.
r,. canal Street Bauk Of New York Forced
..ne WalI-tausas Grain Company
Goes Uuder-Other Failures.

ctst branch Of the Institution Would re-
90, onea untu the same time TO pay
checks.
later a. was announced that the bank
vour open Sos doors at A. NJ. to-rnor-
row. or an hour earlier than usual 70
accommodate those who wished 10 WIN
draw their money. These notices had
mo- effect however, in alaying the
rsnlc and the bank continued 10 pay off
dep8sit0rs as rapidly as the seven tellers
could count out the money At o'clock
TONIGHT 600 depOsitOrs were still standing
On 'front.' OF the building. and IL was deter
mined 90 go on with the payments.
AZ midnight the bank was still paying
on. and the crowd OF depostors, anxious
% draw their money. was still as large
as ever. The bank officials said that they
cared nothing whatever for the run, but
were rather pleased than otherwise TO pay
out the money as 10 meant a big saving
10 the institution in interest, the quar-
terly installment being due on July lst,
and an depostors who drew their money
to-day have lost that The bank officers
estimate that the run $50 far has given
them net profit OF $4,000. 10 was an
nounced at midnight that the bank would
not close SO long as "a single depOsitor
cared to draw out % dollar
The Globe Savings Bank posted a notice
this evening that 10 would take advan-
taro Of the law requiring from thirty 10
sixty days notice for the withdrawal Of
savings deposits. There was no serious
gun on the bank to-day. but its officers
decided 60 protect themselves as far as
possible. The concern is controlled by
New England people.
As the day wore ON the runs on The
savings banks seemed to become conta-
g.nus. The last 90 face an assault was
The Union Trust Company. located on
MGlisOn street directly opposite the
Tribune office. Al y o'clock its doors
We're besiegcd by n big crowd, and extra
paving telIers We're assigned to- duty be-
hind the biz screens. The officers of
the bank had expected something of the
Kind. and currency and notes were piled
up on the counters. When the bank
closed at @ o'clock several hundred had
Withdrawn their deposits. but the crowd
outside was apparently as large as ever
According 90 its last reports. the bank
bad individual deposits subject TO check
aeeregatiug million ana half dollars.
ANA savings deposits subject 90 notice
o. total OF one aud three quarter mill
lions. JOS capital stock is half "a million
ana surplus funds something over six
hundred thousand. S. W. Rawson Is
uo president
There was also n heavy run on the /
Prairie state Savings and TRUST Coppanv |
owned bv the same capitalists as those /
u,.rarir. the Prairie ctata national
Unlike he latter institution. the savings
bantH required sixty DAYS notice Of with
dia"aI ni deposits. The thfoug OF people
WhI.h tii+ci about the doors OF the
savings bank was composed of labOrng
people VINO hAd piaeed lhelr an I'm the
INSTITUTION. an immense amount or
money was pald oui during the day with
ou' g'I ll,Ae uIhlhu'loh or the
'''"'. ""l tn' "'i'i'ia OF 't b"hk APP
'''' '' ''N' 'l'' Hl"''tr eaSlly ana met
i''N, "l'." .",Ii'. r,,
i"e "' ',N'' iu" u' '''' IN
'"' '"' ,''@" '"iin "' '",
'-'. '''' i"I, MUS anu
i"i ',i''' i''l''S '"i ""| io"h'
"' '''N "d". ''cly eHoIl lo pay
'-iI n.y. gnu ''' 'N ia,' 'NIi '9''' no
''t '"' i'."'1 '' '"e uliii''" 4"I
DD @ , N"." "u', j. iu''Is' haiu
'''".'' '"' o' N.'" ''"t 'nl9
.' '.' ""' '' ,"e news
anu US'' """i IuuDi8
.I...le r-.e, and Swim. ,I. ,,,, sto,d
r KIND of % rum. AS vet there is mo-
..asion for alarm. luf m the peopIc keen
n drawing their money out of the banks
here will Doe trouble. AN of This cash
II Doe taken ont of circulation. and there
Uun ON , cnicoro ront
currhco yY,. ,rt. e,,t. l,,,,t, 80
...'....... i..,'i..., ...,... ''',, ''"uN ~,
nor or the Wom1p,s christian rer,no,-
r,e ,r.mple oyp.rI.n...l q. t,,.,.,. ,,,, ,i,ts
tt.r,,., II et,ft.d t,s, -, -.
u, t,. e,r..o,.,,.... 80 ...,.,.,f .,.i.,,, l..
.,ty 5.ooeitors ,r.a r.,,s e,,,'',1 M,
rJ or. and ,,i,bin haze . 49,. IN IN.
ll,,. ,...,s clf.I ,,.i.f, ... t '' 'p'i Wv y
,-. ...., -, ,,,. ' DA.l1su cioW9
,,f.. b., ,,.t ,,tti,i, tt. - 80 -,
I. sr.,. ,,ft,.,.t.l ,.,..,. . t,,,......, -
r. o.,,,.i r,,rlre and a.. t.',-. !
..sr.1 D., e,,,b ,.,.,,,,,.,to,, ~ a, - .
..s.9,., a.. r,,,np,on ee,sr,l ,,ol,.'.,,,','
ho admitted tbe frenzied crowd one hy 9
be- received their money. At 1880 an
'n-barred express wagon containing
'eral bass of gold was hurriedly driven
I 60 the building, and the money carried '
by stalwart waichmen and placed upon
g counters.
Inifure of a PriVate BapI,
cucAGo linn. q Tho pri,,te p,,l, s
.- .,s., s,1es ~ - us, a, aoO i',Ai
e...i. 1T 49,. 't.a.t,l,ll 49, tf. - D,
o.r. ~ tsa ~ -, p,,. -. ri
n. n
Ilis hank &C. in tbe bo,ds NJ r.,,,,on ri
Cr.r..I -, l,,. - I r.,
arerar ...,,t p" ~
re iH ,r,,i,., Tor tbo o,r.,,,,r,,,, n
& le..t.r ,,ss Gic5 ~ littia &C.. ~
H.'A hy Charles j.. Aieadowcroft ana 10