The Irish standard. [volume] (Minneapolis, Minn. ;) 1886-1920, 1903-10-31
ST. DUUIS Banks
DEMAND notice
Officials Seek to Avert Panic by En-.
forcing Rules Allowing Time
to Pay Deposits.
MANY WORKING PEOPLE RUSH
TO WITHDRAW their SAVINGS
Greatest Crush Is at Mercantile Trust
Company and Police Unable to
Handle ton Becomes
better as Day Advances - Money
Received from New York.

st. Louis, Oct. 29.-Long before ten
o'clock, the hour OF opening, lines of de-
positors stretched away from the closed
doors of the Mississippi Valley Trust
company, the Lincoln Trust company,
the Mercantile Trust company and the
Missouri Trust company, Wednesday.
Small crowds were assembled before the
doors of some of the other savings insti-
buttons. 1t was observed that most OF
those in line were working people, and
many of them women, whose savings
were not heavy. Owing to the action
taken Tuesday night by the officials of
the eight trust companies doing bust
ness in St. Louis requiring 80 and 60-day
notices of intention to withdraw funds,
depositors were not able to get any
money. All they could do was to declare
their intention of withdrawing their de-
posts at the end of the time taken adj
vantage of by the companies under their
rules. The trust companies also decided
not to pay any certificates of deposit be-
fore maturity.
Crush at Mercantile Bank.
The greatest crush was before the
doors Of the Mercantile Trust company,
Oh Eighth and Locust streets.
At nine o'clock the doors were opened
and the crowd surged in with force that
swept aside the lines of police and bank
employees formed to preserve regular
line to the windows of the paying tell
ers of the time and open accounts.
Crowd Increases.
By ten o'clock the crowd around the
trust companies building had increased
to such an extent that the police were to-
tally unable to control it, and the officers
stationed at the door were swept away
from their stations almost as rapidly as
they could regain them.
Women, who as on Tuesday consti-
tuted large percentage of the crowd,
were crushed in the jam, and in hestrug-
gle their dresses were torn and their
hats knocked off.
The policemen, in trying to handle the
crowd, pushed many of them into the
gutter, and in several instances personal
fights were averted only by the interpo-
sition ofcooler persons
Feeling Becomes Stronger.
At one o'clock the uneasiness of small
derositors in the trust companies
seemed to have been removed. At that
hour there were only few depositors
withdrawing daily balance accounts or
giving notice of withdrawal Of savings
deposits at The Mercantile and the Mis-
sissipni Valley companies. Many per-
sons who withdrew money Tuesday
deposited it again Wednesday. and in
some instances new savings accounts
were opened
At the other trust companies the
Withdrawals were but little in excess
of the normal. One effect of the with
draWals was observed at the City Hall
in the great increase III the payment of
taxes. In the afternoon the unusual
crowds at the different trust companies
offices had dwindled away and bnsi-
ness seemed TO have resumed normal
sway.
Heavy Demand on New York.
New York. Oct. 29.-St. Louis con-
tinues to make demands or this center
for cash. The sum Of 100000 was sent
by telegraphic transfer from the SUBJ
treasury Wednesday, and direct ship
ments of about the same amount were
made by local banks Tuesday night.
No definite news regarding the situa-
ton in st. Louis is obtainabe in authori-
tative quarters here, but bankers profess
to believe that reports have been exag-
gerated Private advices received by
stock exchange houses agree that the
substantial interests of St. Louis have
the situation we'll in hand.
Chicago and New Orleans also drew
moderately on the subtreasury Wednes-
day for "crop" money.
A further installment of $660,0O was
transferred to st. Louis shortly before
the close OF business. This makes
total shipment for the daY 10 that nnint