The daily morning journal and courier., 1903-10-28
RUNS ON ST. LOUIS BANKS
ANXIOUS DEPosIToRs THR0NG
 THREE INSTITUTIONS.
A Rumor That One Had UnsueeessfulIy Attempted to Negotiate a Loan of s2,0Oo, ,0o0 in Chicago Causes the TroubIs-othsr Institutions Affected All Demands Met. ..1

All neutdnuh nASks
 St. Louis, Oct. 27.-From shortly be- fore oielock to-day until the closing hour, o'clock, runs were made on the savings departments of three banks of St. Louis, and at the same time more than the ordinary amount of withdraw als by savings depositors were noticea- ble in the other banking institutions. The run, so far as it can be traced, was started by disquieting rumor from the outside that seemed to strike St. Louis shortly after noon, to the effect that the savings institutions here were un- sound. s ....ss.
 With rush the corridors of the Lin- coin Trust company, the Mercantile Trust company and the Mississippi Valley Trust company were filled with men and women, all eager to withdraw their accounts. The scene in the three banks was exactly the same. A line of people with bank books in their hands and faces eagerly scanning the little barred windows of the bank tel lers' stretched out into the street and intermingled, was police and bank off, cials counseling calmness and the lat ter giving assurances of solvency.
 It is stated that the rumor that start ed the bank came from Chicago and was to the effect that two directors of the Mississippi Valley Trust company had recently endeavored to negotiate loan of s2, 100000 in that city and had been refused.
 To-day this rumor was pronounced an absolute canard by the directors con cerned.
 As soon as the runs started all other business was laid aside and every fa- cility was afforded for the prompt pay ment of deposits. The clause which gives the bank the privilege of with holding 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 amounts departed without their money, after having conversed a. few moments with the officials and been made confident that the bank would continue to do business
 At the Missouri Trust company a. number of depositors had collected to demand payment but the crowd soon thinned out and before o'clock the in- cipient run had ceased. Presidents of the different national banks assembled during the afternoon and issued state ment in which they announced that the banks of St. Louis are all perfectly solvent and amply able to liquidate all demands.
 
 All the banks closed at 3 o'clock, the usual closing hour, and announcement was made that they will open to-mor- row morning at the usual hour, 10 o'clock, and will meet all demands made.
 The directors of the different trust companies at meetings tonight decided to enforce the thirty and sixty tday no- tification clause tomorrow and this is is believed will doubtless stop all ten- dency to continuation of runs.
 The following statement was given out tonight after meeting of the rep- resentatives of the Associated banks:
 ''The representatives of the Associated banks of St. Louis at a meeting held to- night to consider the local situation and the demands upon the trust companies of the city, invited the presidents of those organiza tions to confer with them for the purpose of taking such action as the situation seemed to require. It was ascertained in this conference that no trust company was in need of assist ance of any character, but each felt as- sured of it's ability to protect it's obliga- tions and maintain itself without call- ing on the banks for aid.
 'The action of the trust company, re- quiring the legal notice of withdrawal of savings deposits was approved. (Signedl U. c. Van Blarcom, President St. Louis Clearing House
 Association"