St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-07-20

teenth street almost to Market.
just before the hour of opening had
arrived notice was posted on the front
door of the bank. announcing suSpen-
sion of payment. The notice was as
follows:
lowing to the inability of this bank
TO realize Immediately upon its assets it
has been decided by the board of direc-
tors to close the same" The posting of
this notice caused a general stampede
for the doors, all being anxious to read
the announcement, but there was no
show of hostile demonstration on the
part of assembled depositors. and the
police that had been placed there 10
keep order had little trouble in dispers-
ing the crowd. Despite the naturally
trying condition of things the people
were remarkably cool, and aside from
one or two women, who broke into
tears when they learned that the bank
would not open, there was little display
of feeling.
All was comparatively quiet around
the Peoples National bank this morn
ing. and the bank was open for short
time. When the suspension of the
German and State banks was known
the directors of the Peoples decided to
close, and this notice was accordingly
posted on the doors: This bank is
closed by order of the board of directors.
Net assets, 81, 100000; liabilities. $780,
co.,
Following the suspension of the State
and German National, a
Few Small DepositOrs
who had their money in the First Ma
tiOnal renewed the run OH that inStitu-
ZION, but it was a small fair and soon
wore itself out
At II o'clock the run which was
started on the First National bank was
completely brok' n. and quiet was re-
stored.
Around the Denver National, Color
ado National, American National and
City National banks all was quiet.
There were very few calls for money,
and a few of those who had withdrawn
from the suspended banks. doubtless re-
penting their hasty aud wholly unjusu-
fable actions in aiding in closing the
suspended concerns, We're depositlng in
the banks that yet remained open.
Among the officers of the banks
which were open for business the ex-
preston was unanimous that the furry
was al ALI end. and that the people
would now see the folly of their actions
in forcing suspension of the banking
institutions by Withdrawing their de-
posts at once, and taking from clrcula-
ton all the money that would ordinarily
flow through the regular channels and
help in sustaining the business public
and the banks. The suspended banks
all had much more than enough money
to be considered perfectly safe guar
anty under ordinary circumstances, and
with business at its normal condition,
would have laughed ut the idea of
run.
Cashier Charles NJ. Clinton, of the
German National. stated that during
the past three months over l,000,0 900 i'll
deposits had been withdrawn, and
The Continual Drain,
placed the bank in such condition that
temporary suspension was an absolute
necessity, and that Frank Adams, bank
examiner for the district, had taken
charge.
Il can say this much. however" con-
tinued Mr.. Clinton, 1.-The depositors will
all get their money in time. We had
the largest number of depositors Of any
bank in this city, consequently many of
them were comparatively poor people,
who easily became frightened. and drew
out their savings, the aggregate amount
ing to very large sum. The business
men and heavier creditors nave with
drawn prOpOrtiOnately less tnan the
class referred 10.
1.-The banks statement will be out as
soon as possible. and the only statement
l can make at this time is our securities
are of the first class and largely in eX-
cess of our liabilities. thus guaranteeing
depoSitOrS against loss in the end
The State National was unable to give
out a detailed statement. The with
drawal of deposits has been heavy for
several months, eliminating iii run
yesterday, which forced temporary
suspension of payment. The statement
of the bank published i'll Mondays
papers showed deposits to the amount
of S756, 7S9.79, with currency certificates.
clearing house exchange, bank bills.
amounting to S115, O00.23, with which to
meet demands. Other assets, large in
value, but not Immediately
Convertible Into Cash
will protect the depOsitOrs from less.
A tour OF the banks just before their
closing hour showed that all excitement
had died away, and there was not the
semblance of run. The officers of the
banks stated that they were taking in
more money than they were paying out.
II do not think | will have TO place a
bank in Denver in the hands of a re
ceIver." said Hon. Frank Adams, bank
examiner for Colorado. today. Mr..
Adams further stated that he believed
that the suspended banks will all re-
sumo business in short time. He has
the clerks at all the banks en-
gagged in making out the reports,
which will be sent to the comptroller as
soon as they can he gotten ready. MIR.
Adams seems to have the utmost
confidence in tie belief that the banks
will reopen again in a few days and
that no loss will follow to dep0sitors.
The morning train from Omaha brought
in $50, 600 in cash for the Denver Nation
al bank. Another bank last night re-
ceived two iron safes full of money
from the East. 1t was reported in COM
merclal circles this afternoon that The