Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1903-10-28
Three Financial Institu-
tiOns are In
VOWED.
RUN CHECKED TODAY
Notice Demanded for
Withdrawal of
Deposits.

ST. Louis, Oct. 2S.-Long before the
doors of the Mississippi Valley, Lin
coin Mercantile and Missouri Trust
companies opened today there were
long lines of depositOrs assembled
awaiting the beginning of the days
business. Small groups stood before
the savings institutions when the
doors opened. Most of the anxious
depoSitors were working people whose
savings were not heavy. Owing to
the action taken last night by officials
of the trust companies in requiring 80
to 90 days notice of intention to with
draw funds, the depositors were not
able to get any money. The trust
companies have also decided not to
pay certificates of deposit before ma
turity.
Early Crowds Leave.
At the various institutions named
officials stated to the Associated
Press that current accounts are be
ing received and paid as fast as possi-
bic. The early crowds which throng-
ed the doors and fought for Il place
pOsitors taking their blank notices of
withdrawal home.
The officers of the different insti-
tutions made reassuring speeches to
the depositors before their doors and
this helped to send others away
The arrival of several boxes of gold
and silver in express wagons guarded
by armed officers seemed to restore a
degree of confidence in the crowd be-
fore the Mercantile Trust company
building. President Walsh. of the
Mississippi Trust company, stated he
believed the excitement is about over.
Drawing on New York.
New York. Oct 2S.-St. Louis con
tinues to make demands on this CEN
ter for cash. The sum of $500. 900 was
sent by telegraphic transfer from the
sub-tTeasury today. Direct shipments
of about the same amount were made
by local banks last night.
Started by DisauIetIng RumOr.
st. Louis, Oct. 2S.-From shortly be-
fore 1 p. m. until the closing hour at
p. M, runs were made in the saw
ings departments of three banks of
st. Louis, and at the same time more
than the ordinary amount of with
drawals by savings depositors were no
ticeable in the other banking institu-
tions. The run, so far as it 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 institu-
tiOns here were unsound, and like
prairie fire it spread in flash through
the streets, and different mercantile
establishments whose employees repre-
sent the majority of savings depos-
itors.
There Was a Rush to the Banks,
With rush the corridors of the Lin
coin Trust company, the Mercantile
Trust company, and the Mississippi
Valley Trust company were filed with
men and women, ,sall eager to withdraw
their money. The scene in any one
bank was duplicated in the other two
A line of people with bank books in
their hands, and faces eagerly scan
ming the little barred windows of the
bank tellers, stretched out into the
street, and intermingled were police
men and bank officials cOunseling calm
ness, and giving assurances of solven-
cy.
Rumor Came from Chicago.
1t is stated that the rumOr that
started the run came from Chicago.
and was to the effect that two direc-
tors of the Mississippi Valley Trust
company had recently endeavored to
negotiate loan of $2,OOOOOO in that
city and had been refused. This ru-