Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-08-04
MONS uEsIEGE MONTREAL BANKS.
Hystcricni Women and WiId Men
Demand Deposits.

MONTREAL. August 3.-Aien struggling
like demons: women. many of thtm
fashiondbly dressed made hysterical by
the terror Of poverty, tossed helpless
hitler and thithor I'm the midst Of tho
dense and heartless throng. clothes be-
ing torn momentariy. with the air flied
with desparing screams OF females and
cries. shouts. ana curses OF mon, went to
make a scene I'm ST. James street and
Place dArmes Square yesterday such as
never has been witnessed IN Montreal.
ON adjacent Francois Xavier street. the
Wall street Of Canada, stocks were tum-
bling constantly. men were being made
beggars each moment, or at least sup
posed thoy were. and what with blocked
thoroughfares. struggling masses Of hui
menIty, and startling rumors. o. perfect
pandemonium reignod. These scenes
were principally being enacted az tho
doors and. IN the vicinity OF the Hocheaga
Bank and Bank National. on both OF
which Institutions a run for gold began
as soon as their doors were opened.
CAUSE OF THE RUN.
The excitement is directly due 10 tho
disastrous wreck Of the VILE Marie Bank
last week. owing to the cashier and pay
ing teller taking $4,000 and disappearing.
Both the institutions above named wero
considered to be. and no doubt are lnan-
cially sound. but the suspension OF tho
Jacques Cartier Bank, first announced
early yesterday morning, was IKE y
match 10 a powder train. and simply ter
rorized country and city depositors
\ run set In on the Jacques Cartier
Bank, heretofore considered one Of tho
strongest monetary institutions OF thu
city. Its president. Senator Desiardins.
issued a notice late In the afternoon
20 the effect that the bank was sound
and ready TO face any emergency but
when this bank was found with closed
doors yesterday morning the panic At
once set in.
BANK TO THE RESCUE.
Notwithstanding the name. the HOche-
laga is an English bank and the Bank
Of Montreal early In the day came 10 its
rescue. All day long the counters were
piled high with stacks Of gold coins, and
five extra tellers paid this out 20 the
struggling masses as "A tangible answer
10 all demands. The Banque National.
however, was not so fortunate in having
deposit receipts were met promptly at
both banks until the hour for closing
Many wealthy citizens. having conf
dence In the banks. tried 10 quell tbs
panic by making a public display or big
deposits, but all 20 no avail. The run
continued, but IL is not thought the
Hochelaga Bank will have 10 suspend.
As the runs threatened the most serious
mercantile disaster. not only 10 Montreal.
but 10 the whole Of Canada. Archbishop
Bruchesi was appealed 20 for help 10 allay
the panic, and he issued the following
appeal:
relieving an interview which I have
had with several important men OF Nom
treal. and. m their request, I think IL my
duty 10 make an appeal 10 all who have
money I'm our banks not 20 allow them
selves TO be panic-strickcn By the dis
asters OF the last few days. ] speak now
in the interest Of the whole people.
COUNSELS CALMNESS.
"A run on our banks az the present mo-
ment can have only the most dopl0rabls
consequences. for these institutions them
solves, for the dep0sitors, and for tho
whole country.
Il entreat the public 20 remain calm.
Tho Archbishop Will set them the exam
pie. The panic VIII go by. anu our banks.
have not the least doubt, will honor all
their Obligations"
Local stocks fell from 90 20 points.
Royal Electric and Montreal Street being
most seriously affected. Unless the APP
peal OF the Archbishop has some effect.
IL looks as II there would be a run on
every banking Institution I'm the city. not
withstanding the banks are considered by
financial authorities as perfectly solvent.