Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1893-03-28
AvERTED A BIG RUN
Hugo Stacks Of Currency Save
Nashville Banks
The BANK OF COMMERCE FAILS
fhe Meohsnsos' ssvtnU na.ks s>ak
shcis~r B~hsad shs slsly DayS
Noszcr Cis.s1

NASHVILLE. Tenn March 17.-The
Bank Il commeroe failed fnaxs wh,l~
another hank. the AechAria.' Savings
bank. fearing Ia case - run that Il
would he unable % meet oi.l,rsfisnk.
took advantage - standing rule and
required depn<atpns "a give sixty dxvs'
notice q Withdrawals ~ det<~lfs A
has been sDgsAily day IN Nsshyilie and
bat fer the TACT that the hstks had time
bef~e~n Saturday night and this morn.
'ng 10 prepare themselves. there might
have been more trouble. With the rr-
csptson % the Bank n comn,erc~. how
ever. al the Nashville banks are
perfectly solvent but of course
don't keep enough money on hand
q pay of all depoe.sors on sudden
demands. Since Saturday. ho~essx. the
larger banks had s.curca from sia0eo
10 shn.nuJ each. and to-day when the
doors were opened great stacks q Gus.
rcrcg Hert piled upon the ftli.-rr' dn<kS
aud IL plain view inside the vaults. Al
The Nashville hanks are located near
College and Union streets. and tits
morning before O'Clock tho parements
were crowded, mostly. borsscr. hy idlrrs
There were many persons exlerfinc 10
see general rnn on al The hanks t..f
IA this they were disappointed.
Bsnk az somms1x,s suspcnds
Az hanks opened for business exccrt
the Bank 81 Conmerce. which Al io
o'clUk. prsiri a notice - aes.cf. mrnt
This hank had about decided 10 .aais
an assignment isrr week
It's srsfcrneDt IL - fellows: Assef<:
Notes discounted. x7tioeo: real estate
and cash. s2l .s0tl: tc;al. 81. 5nu.
Liabilities. Capital stock pain in.
s2..scl: deposits. savings account. sif.-
90: deposits. fpecial ac.snunf. sl3.o,so.
general deposits. Sis.Hpc. profit and io.z..
$3.50. total. s9s .sp
The fact that IL had not opened in
doors increased the nervous Keeling 10
some extent and the Mechanics Savings
hank directions decided that the best
plan for them would be 10 require the
depositors 90 give sixty days notice n
withdrawal. Ne provided in their rules.
They therefore announced that this
would h. erforced II IL thought tbaf
the Merchants hask will resume bns
nees ss usual in day or "a
With very few exocpfions the p>orle
who drew their money from the other
banks were small depo<atorr Tho~c
having large accounts were pafisGed u
their safety. and interviews tonight with
ali the leading bankers show that their
friends have ccme 10 their rescue an,.
that fcdsSs deposits Are in excezs Il
what was drawn ouf.
rs~ngs~f supr,rs.
AT the American National bank a
notice Was displayed in the window that
a doxen ~ the wcalfhicef men IN Nash-
vile, whose names were signed thereto.
piedzed their personal estates g. secure
ali dsTosifors one - tho sirncrs 70
this wac Gen. W H. Jackson. owner ~
Belle Neate.
The statement - The Commercial
National hank. which failed Saturday.
is as follows Aserfn. Loans aud dis.
counts. sl 10000: c,a and each ifrnis
slss.on: dle from fssof>e sgenfs sra
90. due Som ether hanks sf230s.
stocks. bonds and other sarufitiseL
sl2oep Total ,.sel tso
Liabilities. individual siernsiis. sGS5.
"n. certificates - dels&,i s.Spoo. hank
deposits. s3,Nnoo. rciisccunts. efs0no.
biiis pay able. .f201et. tosal. al c7suu.
Capital stock. sz,oooon: surplus. sloo..
oo: undivided profits. tqSlco: tstsl.
sszll COO