The Montgomery advertiser., 1903-10-28
ST. LOUISANS
 ARE ALARMED Runs Made on Three
 Savings Banks. DEPf S l0RS PAID IN FULL |V 2 ,als Say They are Ready
 to Meet Demands. sumor Said to Have Originated in Chicago Concerning solvency of
 the Institutions Started
 the Trouble.
DEPfS loRs PAID IN FULL
, .alS Say They are Ready
 to Meet Demands.

St. Louis. Oct. N.-From shortly before O clock until the closing hour 6 o'clock) today runs were made in the savings de- partments of three banks of St Louis. and at the same time more than the or dinary amount of withdrawals by savings depositors were noticeable in the other banking institutions.
 The run. so far as 1t can be traced. was started by a disQuieting rumor from the outside that seemed to strike St. Louis shortly after noon. to the effect that the savings institutions here were unsound, and like a prairie fire 1t spread through the streets and different mercantile estab- lishments. whose employees represent the majority of savings depositors.
 Eager for Their Money.
 With a rush the corridors of the Lin coin Trust Company. the Mercantile Trust Company and the Mississippi Valley Trust Company were filled with men and wo- men all eager to withdraw their money. At each of these banks a line of people with bank books in their hands stretched out into the street and intermingled with policemen and bank officials counseling calmness and giving assurances of solv- ency.
 It is stated that the rumor that started the run came from Chicago, and was to the effect that two directors of the Mis- sissippi Valley Trust Company had re- gently endeavored to negotiate a loan of $2.000,00O in that city and had been re- fused. Today 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 fla cility was afforded for the prompt pay ment of deposits. The clauses which gave the bank privilege of withholding pay ment until sixty days after notification were waived and the 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 hav- ipG conyerseds a. fews moments with the officials and been made confident that the bank would continue to do business. Run Soon Over. At the Missouri Trust Company a num- Der of depositors had collected to demand payment. but the crowd soon thinned, and before o'clock the incipient run had ceased. Presidents of the different na- tional banks assembled during the after noon, and issued a statement that the banks of St. Louis are all perfectly solv- ent and amply able to liquidate all de- mands.
 All the banks closed at o'clock. the usual closing hour, and gave out word that they will open tomorrow at the usual hour, 10 o'clock, and will meet all de- mands.
 The directors of the Mercantile Trust Company, representing several millions of dollars. have signed the following agree ment:
 we, the Directors of the Mercantile Trust Company. knowing that all it's af- fairs are in sound and safe condition and that every dollar of its obligations of ev- cry nature will be met, do hereby bind ourselves individually to the extent of our individual fortunes, to the payment in full of all current and savings deposits accounts and we do hereby guarantee such payment"