The Irish standard., 1893-06-10
Q !! 4 { I( .
Chicago Banks I,eriience an E:xa
; citing ana BUSY Day.



Il Failure Annonnced- I3usineSs
i Troubles Elsewhere.
FACED HEAVY RUNS. s#s
CHICAGO, June 6. The opening Of the
bankssin Chicago was characterized by
str ong symptoms of a panic. Much un
|easiness existed since Saturday, and
the doubts and fears among de-
positors had become SO far aug
mented, even long before 10 o'clock,
that crowds, including men and
women and working girls, found their
way to the bank doors and were ready
to improve the first possible opportuni-
ty to withdraw what money they had
on deposit. AS the day wore on the
crowds increased. and by noon full
fedged panic of no mean magnitude
was Inaugural ted.
PAID ALL WHO CANE.
Savings banks which experienced .
run Monday kept their tellers at work
hour of ordinary closing were paid,
and notices were posted on the doors
that the banks would be open for bust
ness at the regular hour this morning.
The panic did not extend beyond the
owners of small savings accounts, but
there was an intense Strain in financial
affairs. 1t is 70 the rumor mongers that
the day is indebted for Its worst phase
PRIVATE BANKERS FAIL.
CHICAGO, June 6.--The private bank
ing house of Meadowcroft Bros, 100
Washington street, at the northeast
corner of Washington and Dearborn
streets, has been placed in the hands Of
q receiver, being forced to suspend be-
cause of the prevailing monetary strin-
gency. Lyman E. Crandall has been
appointed receiver. Eddy & Walker,
attorneys for the firm. have given an
approximate estimate Of the banks as
sets and liabilities. They place the liza
bilities at $250,00o, and the assets at
$500, 900.
STOOD THE STORM
The depositors began a run on the
Illinois Trust and Savings bank in the
Rookery building early in the morning
and clamored for their money all day
long. The bank made every effort to
pay promptly and the officials expressed
no fear for the result of the demand for
deposits.
This bank kept its doors open until
after midnight in order that everyone
who wanted his money might have it.
The last depositor in the line got his
money at 3 a. M, then the bank closed
until 10 O'clock.
The assets when the bank opened
Monday morning figured up $2s, 600, 600.
The. stockholders are estimated as be-
ing worth s15O,000, 900. The bank has
not called loan in nine years.
Shortly after the doors of the Bank Of
Commerce were opened a; run was start
ed which continued for hours. President
Felsenthal says rumors are responsible
for the run; the bank was conducted
on soundest financial principles, it's Off
GERS do not speculate, and there was
plenty of cash in its vaults, to meet all
demands.
There was heavy run upon the
Prairie State national bank and the
Prairie State Savings and Trust COM
pany all day. Both institutions are To-
Gated at the southwest. corner OF Des-
PLANES and Washington streets and are
patronized largely by west side bust
ness men and mechanics. The bank
officials appear to take the matter
easily and met all the demands made
upon them.
In the general excitement that struck
the public the Hibernian bank,did not
escape, but the result thus far is not
alarming to the officials
. A run was made on the Union Trust
bank, of which Stephen W. Rawson is
president. The run began about noon
and was kept up during the after
noon. ..t.sf ... s#s Is.
At the Globe savings. bank the run
kept up all day. At 2 p. m. it was de-
cided to take advantage Of the thirty
day notice provided for savings ac-
counts. Vice President Hayes. said this
would not have been done had the FUN
been on that bank alone. .
There was. slight run at the Mil
waukee avenue state bank, but the
crowds began to diminish by the close
Of the business day. President Paul
Stensland said there would be no
trouble in paying all demands. Some
of the depositors after receiving their
money, redeposited it.
IS. MANY FAILURES.
The Sandusky tO.) Savings bank failed to
open its doors Monday. It's trouble is due to
q run experienced ten weeks ago and some
heavy demands made within the last few days.
Its assets are placed at about 0,OoO; labil-
ties, .s2O5, 600
The firm of Washington Butchers Sons, pro-
vision dealers of Philadelphia, has failed, but
no statement of its condition is made. The
arm is rated as good for 500, COO S
Potter & Potter, OF Boston publishers Of the
New England Magazine, Yankee Blade, WON
ans Home Journal, American Vehicle and the
Amesbury Daily, have made an assignment
The liabilities are about t1O0, 600.
Morris SEVERN, trunk, valfse and bag manu-.
facturer Of New York and Newark, N. j., has
assigned. The liabilities are about $4,000;
actual assets, 900, 600
+ Campbell & Co, wholesale dealers in woolens