The Oskaloosa herald., 1906-01-04
THREATENED RUN
ON BANK AVERTED
DHELpiko HAND" EXTENDED ~
OTHER INSTITUTIONS.
RESULT on REFORM WAVE.
---~
Burlington saloon Men Plan step IN
Retaliation FOR Crusade Against
Their Interests By the
Civic League.


Burlington, Ia, Jan. IA hurried
meeting upon the part Of all tho bank
presidents Of Burlington and the con
certed action of ali tho banks, ag q re.
suit, saved the town from what threat.
cned 10 DO O financial panic tho direct
result Of the recent reform In tho old
Orchard city Az II wag, there was a
goodly crowd IN front OF the German.
American Savings bank when that ia.
~stituflOn opened for business ag ugual
this morning, but word was soon
spread that every other bank IA the
city stood behind H. and the prest
dents ~ the banks published IN the
local papers a signed agreement %
2rot1ct each other. THUS the run was
ayoideJ, but there rs still a feeling OF
L~ncsGiDssg.
IBOse who bAye carefully watched
the statements, and noted tho condi.
tlOn Of the Burlington banks are con,
fdent inst every bank in town IL
sound, but had ne run come this
morning without warning, II N doubt
fuI II q panic could have been ayerted.
~ tho clOge VI the services held
here by Rev "BiIIy" Sunday q Civic
league mas formed One Of the first
acts N this league wan 10 force Mayor
j. .. Castor 20 cloEs the saloons Of the
city On Sunday FOR the last few
6sys mere has been q persistent ~.
NOR that an effort would be made 70
enforce me muIct law 20 the Ietterand
the retail liquor dealers hare formed
a protective ieague, with " W0rotbs
40 president
sig stick For poWsr.
One Of the prime movers on the
new reform league IL Judge j. q.
Power, q well known attorney N Bur.
Bngton ana bTother3nlaw o. T. l..
White, editor On tho HawkEye, TIN
paper that has been cbampioning the
caBSe o. the ~anttEaloon element and
~refoYners and Mayor Castor, Judge
Power u also a director Of the German
American, and, in conversation with
discovered mat the majority OF the
saloon me Of Burlington dld their
business through this bank, A gug
Eestl0n wag made that unless Mr. Pow
er ceased bis efforts, as II MAS claim
"a, 70 lnjufe th1 saloon business in
Burlington, the 1lgnOr dealers would
transfer their accounts " rome ether
bank, presumably tne Iowa spate gay.
ings bank,
A member 81 the liquor dealers az.
s0ciatl0n happened into the German,
American nad, IN c~OpyensatiOn win
tho cashier, Ealds ~ would DO agood
thing for Jon people 70 have from two
% four hundred thousand dollars in.
available cash here between the zee,
Ond and lfta of me month, for I be-
Iisye most a the members OF tho aeso-
have decided 70 90 business
with a bank whoge directors arc not
working against their InSrestgP
A meeting o. the bank presidents
was Immediately called and when ~
was learned that the presidents werOI
IN conference the stOYieg a bank
runs, ruins, ETC., REQUIRED 20 many a
the small deD0gitors, especially won.
ep, and many spent an uneasy night
that, IN the expected p,tney
would I&e their savings.
The published ~,atement Of the nc
ton on al the banks restored me con
hdence Of many Of me small deDosit
orr, The other banks stood behind
ne threatened institution, ana thoee
who dd present. their pass OookS we're
paid.