New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-10-28
RUN ON ST. LOUIS BANKS
THREE ARE BESIEGED.
IN Stand Strain-Directors Of One
Pledge Fortunes to Pay Deposits.

81 Louis Oct 27.-Fronl shortly before i
o'clook to-day until the closing hours O'Clock
runs were made or the savings departments OF
shree hanks Of this city, and. at the same time
more than the ordinary amount Of Withdrawals
,v savings depositors was noticeable in the
other banking institutions. The run so far as
II can be traced. was started by a disouieting
-urnor from the outside. 70 the effect that the
savings institutions here were unsoun6. With
q rush the corridors Of the Lincoln Trust Com
r,snv the Mercantile Trust Company and the
Mississippi Valley Trust Company were filed
with men and women. all eager 10 withdraw
fheir money. The scene the same In al
three hanks. a line Of people. with bankbooks
in their hands ana eager. anxious faces.
stretched out into the street, and intermingled
were policemen and bank officials counselling
oslrness and giving assurances OF solvency.
II is stated that the rumor that started the
run came from Chicago. and was TO the effect
that two directors Of the Mississippi Valley
Trust Company had recently tried and failed TO
negotiate a loan Of 100000 IN that city. This
Turor was pronounced an absolute canard by
fhe directors concerned. The directors of the
Mercantile Trust Company. representing sew
ersl millions OF dollars. have signed the follow
sng agreement:
We. The directors Of the Mercantile Trust Com;
safe condition and that every dollar OF its oblga
rselTes ndiy5dnaIy ~ ne Extent 10 Of our ndi-
7dusl fortunes 10 the payment in full Of al current
guarantee such payments.
AS soon as the runs started all other business
laid aside. and every facility afforded
for the prompt payment of deposits. The
clause in their bylaws which gives the banks
the privilege Of Withholding payment until sixty
days after notification was waived. and amounts
were paid rapidly. regardless Of their size.
There was no disorder manifested at any Of the
institutions and in many cases depositors who
had hurried TO withdraw accounts departed
without their money. after having conversed
few moments with the officials and being made
confident that the hank would continue TO do
business.
At The Missouri Trust Company a number of
depositors collected 10 demand payment. but
the crowd soon thinned. and before o'clock
the incipient run had ceased. Presidents of the
different national banks assembled in the after
noon and issued a statement. in which they
nounced that the banks OF the city all per
Sectly solvent and amply abe TO licursate all
uands. All the banks closed at ; o6ock. the
usual closing hour
giving notice that from tomorrow the thirty am
posts Will be invoked and no time certificates will
Be paid til maturity. Seventy-hye bankers and
IRE MISSISSIPPI Valley Trust Company.
TIE stock market vas adversely affected yes
-erdsy afternoon by the reports from St. Louis OF
ersl list selling of sharply. but later reassuring
sovioes the losses were partly recovered.
The Mississippi Valley Trust Company
founded in 1891 and has capital of s. cao0oo end
surplus and undivided profits OF s5l59T7e. Its de-
posts IN OF SO 600 and June 81 its
total s3l.530054 Its president is Julius
s Walsh. and in board OF directors many
other men Of large wealth and influence among
rhe-n Harrison I. Drummond. David r. Francis
n. Clay Pierce, Joseph Ramsey. il, president Of
the Wabash Railroad Company. and Rolla Wells,
Mayor Of S.. Louis
The Mercantile Trust Company. although q
younger institution. having been in existence only
Lass. IS also among the strongest and largest
trust companies Of St Louis Its capital is S.00a-
60 ans its surplus and undivided profits are S. 754
6lh. The total assets are S&l.1S.6o3 The president
81 the Mercantile is FestUs J. Wade. and among the
directors are james Campbell. R = kerens Harry
ScBiln. Corvin Z. Spencer and Emerson MCMilln.
u the Mercantile Trust Company Of St Louis.
% VIII be remembered. which acted for the Rock
Island Railroad In its successful contest year
last spring for control Of the Virgins Ferry Com
pany. the Mississippi Valley Trust Company acting
for the opposing interests
The Lincoln Trust Company. which began bust
1ess IN 1854 has 100000 cspitai and 81 l3 SO
surplus and undivided profits. Its total assets,
cording - recent statement. about S96eoo 0'.