The sun., 1893-08-11
BANKS FORCED TO SUSPEND.
LIVELY DAY IN NASHVIBLF, WITH
RUNS ON Two INSTIIU1IONs.
One OF Them Shuts Its Doors and the Other
Pays All Demands Mndr Upon It-tnstt-
tutions In Other Cities Forced to Close.

| ouc oh hhem Snuts Hts DOorr hnu tme Othtr
Pays All Demands Made Upon It-in-,'-
| tut,ons In Other Cities Forced TO Close.
| NASHVILLE. Aug. 10. - Nashville passed
through severe financial strain to-day
There was run on the two national banks.
md one OF them. tho American National tenn
| porarily closed its doors. The other. the
! Fourth National. its officers say. is able and
| ready to pay every check upon presentation.
| The Sale Deposit, Trust and Banking Com
pany and the City Savings Bank required de-
positors to give sixty days notice before they
| can draw out their deposits.
The trouble to-day was caused by the sus-
pension OF tho First National Bank last even
ing. At $3.50 o'clock this morning there were
probably 300 people on College street lin the
imm ediate vicinity OF the Fourth National
Bank. American National Bank Merchants
Bank. Union Bank and Trust Company. City
Savings Bank. and Safe Deposit. Trust and
Banking Company. At $40 o'clock the Mer-
chants Bank opened its doors. A few minutes
later the other banks opened. Deposltor after
depositor entered the doors Of the American
National and Fourth National and the run was
begun. Every check was paid as fast as the
money could be handed over. After the run
had been in progress half an hour the officers
and directors Of the American National Bank
decided to temporarily suspend payment in
justice to all depositors and stockholders This
was announced. and the crowd quietly filed
out OF the bank.
Then the crowd at the Fourth National Bank,
just across the street, was doubled. There
were probably two hundred persons in line at
one time. Most Of them were paid in silver
large majority of the checks presented were
for small sums. The bank kept its doors open
until o'clock, three hours after the usual
time. and when the last depositor received his
money IT was estimated that only little over
$4,000 hal been .s pad out PsgSsits % we're
considered safe. Il is thought tho run is over,
There was no excitement, during the day;
amount OF money on hand. even more than is
required under the national banking laws. As
national f BANK a examiner Y vas notied. and he he
took charge. 1t is believed that the bank will
resume business In thirty days and perhaps
At the Union Bank and Trust Company, a
State bank. there was at no time anything like
lie said the bank i IN solvent eondison. na and
the 'sf a BanP stats tut
President Sperry said the bank was all right.
s as Chat the
an tWee sf s'fn obi raons uH All eheaf ls WE'RE
Bank says his bank T is solvent Mr. 'Fiie f'"fi said
its obligations 1t is generally believed that
the worst is over. - r u
County Bank at this place and the Exchange
Bank OF Polo closed their doors yesterday
%orninE Both banks are Owned by John D.
GHrcAso Aug. i0:IThe South Side State
Bank, State and Thirty. first streets passed
noon. The bank has been doing business
since %since IN Juns1; The capital stock was placed at
age Of this sum was paid in. The. deposits
will not exceed $4,000; and were made largely
ill., AuT fG r. Haock Of
Mundy, whose bank closed its doors week
was ago. yesterday bound over to the Grand
Jury on the charge OF receiving deposits after
insolvency
EpEssnURo, Pa. Aug. 1o:1;The, banking firm
ing banks at Ebensburg. Carrolltown. and
Hastings. closed their doors at noon to-day
trance: W we have assets in ] excess Of Of our our ia. la
bilities. but owing to the constant demand on
to best Of al
The bank wilf resume business as soon as the
LEROY. 4: Y. Aug. .i0.-Frapk G. Lathrops
bank has closed its DOORS. IL, has made an
pestors will be ii paid in iui:. " says MI ue
BE BtATEIcE. IT th Seb: ApS; io,Jaeob Bond. Presi-
the State Legislature swore out ti the Complaint
% fRs bsnf sa kTS 7ss's tS s
The liabilities to depoaitors are between
S25.OOO and $4,000 and the collectibe assets
will not exceed $1,000 Among tho assets are
notes signed By Bond as principa and his wife
us security and vice versa. 1t is said these ag-
gregate about $4,000.
MANCHESTER, N. H.. Aug. 1O.-At meeting
OF the directors OF the suspended Bank OF New
England to-day Bank Commissioner .Lyford
said that careful examination of the institu-
ti0n had revealed no discrepancies. and that II |
the assets could be realized upon not only |
would the depositors and stockholders receive !
every d9ar. but that a surplus of at least ten
per cent. would remain.