The herald., 1893-06-21
I SCURRYING FOR THEIR DOLLARS,
A FURRY in Financial Circles
Yesterday.
Plain, Straightforward Statement
of the Situation.
The City and University Banks Close
Their Doors--Statsments From OfH-
GERS of All the Important
Banks In the City.

Ihe eHect OF mental epidemic OF fear
was evidenced yesterday by the peculiar
financial panic which seemed to per-
meate certain class OF patrons OF the
banks of the city.
Much OF the excitement was due to
the fact chat large crowds OF sight seers,
loafers and people full of curiosity we've
congregated about the banks.
There was no reason for yesterdays g
excitement, and the people who helped
to cause it will admit that they were
mistaken before many weeks. SAL
1t was stated yesterday that Mr.. l. w.
Hellman would arrive here today from
San Francisco. 1t was also stated that
very large sum OF coin would arrive In
the city this morning by special train
from the north.
Below is given plain, straightforward
statement of the situation yesterday,
and interviews with representatives Of
all the banks in the city. ssnsfo
MONEY COMING IN.
A rumor was circulating around the
streets yesterday that large amount OF
money had been received Monday after
noon from San Francisco through the
agency of Wells, Fargo g. Co.. and it wasl
also said that the wagon carrying it had
broken down under the weight. Differ
ent persons mentioned different
amounts, and 5000. 900 was one of the
figures given.
With the intention Of gaining some
facts which would throw light upon the
authenticity of the runner, HERALD
reporter called upon VIM. Pridham, as
sistant superintendent of Wells, Fargo
& Co.
Mr.. Pridham stated that there had
been large amount of money received,
and that much larger amount would
be received. The fact of the wagon
breaking down, he said. was correct, as
1t had occurred in the street outside his
office window. He, however, stated
that the rules OF his company forbade
his making known the amount of the
coin shipment or the persons to whom
ii was forwarded.
II will, however. say this said he.
II know that there is at present enough
money in bank in this city to insure
resumption of public confidence in our
financial institutions. l will tell you
this in the interest OF increasing a
feeling OF security, and / do 80 in order
that people may see that they have no
cause whatsoever for alarm, and l hope
they will soon appreciate this fact and
cease thGr senseless runs on the
banks"
Yesterdays FEATURES.
Yesterday will be day often referred
to by "the oldest inhabitant" for years
hence in this city. 1t was day on
which the feelings OF many Of the peo-
- pie got the better of their judgment. and
losing that judgment they became
panic etricken and imagined that they
were in danger OF foaiug the hard earned
savings Of years. II they had only
known that there was enough gold in
the banks Of this city to pay
all the depositors, they would
have stayed at home and not exposed
themaelves to the fierce rays OF the Gun
and the no less fierce emotions which
racked their spirits until they once
more grasped the gold they had on de-
post.
Yesterday morning dawned cool and
pleasant, and Old Sol little thought at
that time of the fierce passions and con-
flicting emotions he wonld look down
upon before he commenced the western
part OF his journey.
THE CITY BANK CLOSES.
The strollers along Spring street about
10 O'Clock caught sight OF an ominous
notice, which was pasted on the front
window OF the City bank. 1t stated
that lowing to the stringency OF the
money market, this bank has deemed it
for the interest OF its depositors to tenn
p6rarily suspend. The depositors will
be psid in full."
a curious crowd assembled around
the doors but they were principally
idlers, and few amongst the onlookers
were those having money on deposit.
Little fear was entertained by the de-
positors OF getting their money and the
fact that the last clause OF the notice
read ''paid in full" brought confidence
and after some discussion the crowd
gradually dispersed.
THE OFFICERS STATEMENTS.
A. d. Childress, the president, stated
that the total amount OF deposits in the
bank were $3.50 1000. OF this amount
there ia $2S 900 OF county money. which
is intact in the bank, and $lJ 1000 of city
money, which is amply secured by bonds
OF members OF the clearing house and Of
individuals. The county money is
special deposit and remains in the
bank untouched. The city and county
deposits aggregate $47 900, and that
leaves $l33,000 to the credit OF general
depositors. Mr.. Childress said the book
aesets, including the 100000 capital
stock, are $230,000. He ielt sure that
before long the banks securities would
be realized on and that every depositor
would be paid in full. even il the assets
should shrink 500 900 in the securing
of money.
John S. Park, the cashier OF the bank,
stated that on Monday night the bank
found itself in a decidedly weak copdi-
tion, owing to the run which had been
kept up on it all that day. In conse-
quence OF this run meeting of the di
rectors, consieting OF J. ]. Schallert, r.
G. Lunt and A. ID. Childress, was called.
These gentlemen met and conferred with
the officers of the clearing houee on Mon
day night and stated the status oil their
bank fairly to them. The conference
was continued from O'Clock antil 10,
and the directors OF the City bank Of
fered the clearing house officials gilt