The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-06-14
MORE WILD RUNS ON BANKS
A Couple Of Failures Start a Rush
at Omaha.

All the Institutions Except the Two
Previously Closed Weather the
Storm-only One Even Takes Ad-
vantage of the Sixty Days Clause.
Kansas City the Scene of Still
More Absurd Run.
Omaha, Neb., June 13.-There was a
run on every savings bank in the city this
morning, precipitated by the failure Of the
McCague Savings Bank yesterday, fol-
lowed by the downfall this morning of the
American National Bank, in which the
McCagues are largely interested 1t was
unoficially stated yesterday that the
clearing house association would stand
by its members, of which the American
National is one, but when the assets of
the American National Bank came to be
examined they were pronounced not good
enough and the aid of the associated
banks was withheld. The ominous sign
appeared on the door this morning and the
crowd which had collected became greatly
excited. The McCagues tried to re-
assure the depositors, telling them that
every account would be paid in full.
AT the Omaha Savings Bank, the Ger
man Savings Bank the American
Savings Bank, the Globe Loan and Trust
Company, and other institutions, there
was a steady drain of deposits all day.
Cash was paid out as long as called for,
and there was no apparent limit to the
supply.
Senator Mauderson and Vice President
directors of the bank, made
speeches to the excited depositors,
guaranteeing them their money, but the
run continued. The Dime Savings Bank
compelled its depositors to give sixty
days notice of withdrawal. This action,
together with the promptness with which
other banks met all demands, is believed,
TO have stopped what almost promised to
be panic.
CRAZY RUN AT KANSAS CITY.
Kansas City, June 13.-As a result of
the suspension yesterday of the Peoples
Savings Bank, an insignificant institution
with deposits of only S25, ,000 run was
started this morning on the Kansas City
Safe Deposit and Savings Bank. The
bank took advantage of the clause of its
bylaws requiring depositors to give
thirty days notice of the withdrawal of
deposits. That checked the run
tically over None of the other
banks experienced a run. just why the
Kansas City Safe Deposit and Savings
Bank should have been selected for run
is mystery. 1t is the largest and one of
the soundest institutions of the kind in
the state and has the confidence of the
banks and merchants generally.
RUN CHECKED AT DETROIT.
Detroit, Mich, June 13.--The State
Bank of Crystal Falls, Mich, has sus-
pended as a result of the failure of the
llON ,lysva a-rf~ FfFl.-
bank is only a year old and its capital is
$4,000. The deposits foot up $50, 900.
The officers of all the savings banks in
this city agreed TO enforce the time limit
upon Withdrawals of deposits. A run
was started this morning upon the Peo-
ple's Savings Bank, one of the strongest
in Detroit, but the sixty-day notice re-
quirement checked it. The officers
concur in statement that cit was not
for. want of money that we took this
action, for we could have secured enough
to have paid every depositor, but we did
not think this the wisest plan"
A NASHVILLE BANK SHUT.
Nashville, Tenn, June 13.-The Nash
vile Savings Company, of which Thomas
S. Marris is owner and president. filed an
assignment tonight. The liabilities are
S2S2, ,S76, and the assets are valued at
about 1925, 600 The deposits amount to
SlOJ,Ol0 ~, and the certificates of de-
posits to $72, ,911 81
Among the assets are sec, 900 on deposit
with Arthur, Ketcher s. Co., suspended
bankers of New York
In an interview President Mari saws
the failure was due to the shriukage in
values and steady withdrawal of money
by depositors since failures have become
so frequent. The recent failures of local
business houses and the suspension Of the
Commercial National Bank also caught
him for large sums.
ASSETS WIPED OUT
Mankoto, Kan, June 13.-The bank of
Burr Oak, Jewell county, closed it's doors
yesterday morning. The bank was owned
by Hubert Bros, and the liabilities are
placed at $35, 600 The assets are prac-
tically nothing. c. d. Hubert, one of
the proprietors of the bank, has fed and
his whereabouts are unknown. The de-
positors are greatly excited, and if he
should return either of his own accord or
to answer criminal charge, there being
some inclination among the depositors to
prefer such a charge, he would be roughly
dealt with.
BANK FAILS IN UTAR.
Salt Lake, Utah, June lathe Park
City Bank suspended yesterday. It's liza
bilities are Sl30,0O0, and its assets as
much The claim is made that the bank
will shortly resume. The assignee says
that depositors are to be paid so cents on
the dollar.