Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1893-06-10

sd zion mongering practices of the
penny papers alarm has seized upon
many of the depoSitors in the savings
institutions o. this city, and run of
some magnitude Is in progress, thou
sands of men, women and children
standing in line or lighting their way
to the paying-tellers windows, filed
with desperate fear that they may not
reach the goal in time to draw their
money.
When the firm of Meadowcroft
Brothers put their business into the
hands of receiver as the easiest and
quickest way OF liquidating, the penny
papers got out ! clock extras. and
thousands of brazen lunged newsboys
scared the people with clamorous
invitations to al all about another
bank failure" 70 the people unac-
customed to business and unfamiliar
with the status of the fiscal institu-
tions bank is bank, and they do
not distinguish the difference between
a note shaving shop or a $40 900
depository and great banking
house with millions back Of
it, and solid as the rock Of
ages. Therefore when they heard
that there had been another bank
failure followin hard upon the heels
Of the collapse of the Schaffner con-
Germ and the Disappearance of Mr.
Schaffner, they became alarmed about
their own little savings, and the more
t,mid began checking out their depos-
it's Their example was contagious,
and crowds were gathered about the
several savings banks.
Mot Of fha % nj ,, frg no v.Iyg lva,,F ,r,a,,
yesterday afternoon long after BUSH
ness hours, The Illinois Trust and
Savings did net close its doors until 3
o'clock. this morning having announced
that they would remain open as long
as there was depositor in sight
who might want his money. The
news travelled and the stream did not
stop until three hours past midnight.
Clerks from the Corn Exchange North
western and Continental Banks volun-
teered their services to relieve the pay
ing forces at tue Illinois Trust, and
they got through the night in good
shape.
The Hibernan closed its doors at 2
O'Clock, but paid everybody who was
inside the Office at that hour, proba bly,
200 in all THIS took until nearly 6
Y
the Mon Trust fkawson' s. on the cor
ner of Dearborn and Madison Streets,
and at the Bank of Commerce in the
Woman's Tenn c, belated depositors
were accommodated long after bank
ing hours.
Probably 1000 people drew their
money out of the savings banks yester-
dav, the Illinois Trust alone letting go
al "a Z ! 4.
down the bank saves SIT, in interests,
which in the ordinary course of bust
ness would be cred ted to the deposits
at the end of the year, June 80. The
strictly savilgs deposits in the several
savings banks OF the city will approxi-
mate SIS, 0OO, 900, on which interest TO
the amount of about $500, 900 would
mature June 80 if the money were
left undisturbe until then BY with
drawing the cash before the end of
June the interest is forfeited and a
very considerable percentage of the
$4,000 small depositors seem bent upon
depriving themselves of this snug
dividend. Not only are those who
check out uheir money losing their in
terest, bu. they are putting their
money where the temptation to spend
IL NJ III bt ibCItdNEG Ten lOlus 1T IS q
bad pie G of bu mess all around
The policy OF keeping open all night
will not be pursued any longer by the
Illinois Trust and Savings Bank Here
after the bank VIII open and close at
the usual hours 1t will do business
in business hours only The expert
ment Of keeping open until o'clock
this morning did not have the effect of
restoring the confidence of the small
depositors, and they began gathering
in front of the doors before o'clock
Policemen were on hand early
and as soon as the crowd grew
large enough to impede travel
the people were compelled to
form in line BY o'clock a double
line Of men and women extended from
the Rookery main entrance on La Sale
Street. in the middle OK the block, clear
to the corner OF Adams Street. BY 9
o clock it had stretched the full length
OF the building on Adams Street and
by 0 o'clock the tail end of the line
was eurled around the Lakeside corner
on Clark and Adams. There must have
been 1870 people in line.
Long before the usual hour the
officials and clerks of the Illinois Trust
and Savings Bank were on hand clear
ing the decks for act on. Great piles
Of greenb backs, gold and silver, were
piled up behind each of the seven win
dows, at which the paying tellers were
stationed AMI every preparation was
made to meet the run Millions Of dol
lars We're displayed in full view Of
every body in the great lobby, and a
detachment Of police was on hand to
preserve order. BESIDES the regular
bank force several prominent directors
and stockholders were around bright
and early, among them levi n Letter,
J. Ogden Armour, Frederick r. Has
keil and John b Drake, who consti.
tute the Executive Committee. i. was
dec ded by the management to pay all
dema nds upon h. savings department
IN full, but not keep the doors Of the
bank open again after three o'clock