Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1910-01-26
BANK FAILURE
IN MEXICAN
CAPITAL
UNITED STATES BANK
FORCED TO SUSPEND
Institution WithStandS Wild
Run and Ends Day With
100000 Deficit in Clearing
House, May Pay in Full

lBy Morning Journa, Special Teased wiz
Mexico city, Jan. 25.--The United
states Banking company was tonight
suspended from the clearing house
upon its failure to make u settlement
of today's business BY a special arr
rangement the bank was given until
e.3O tomorrow morning to make good
its deficit which is said 10 amount to
10000 pesos.
An official or the bank tonight adj
mitted that the bank Of Montreal had
telegraphed from its Canadian head
quarters To It's branch here giving in
structons not to advance any further
funds to the United states Banking
company
NJ. Elaser, vice-president Of the
United states Banking company. said
that il was doubtful if the bank would
open its doors tomorrow. He ex-
pressed the belief that the bank would
pay dollar for dollar to every deposi-
tor.
From 10 O'Clock in the morning un-
till 4.20 this afternoon. except ror
lull of an hour at midday, Mexican
depositors crowded the lobby OF the
institution and five paying tellers were
kept busy
The bank honored every check. and
it is estimated unofficially that fully
two million pesos We're Withdrawn.
The crowd began to assemble half
an hour before opening time. When
the bank opened there was crush
about the paying teller's windows
4. .f,.I.
tent that il was necessary to convert
the bookkeepers' and receiving tellers
cages into paying tellers compart-
ments. Many women were in the
crowd and some We're roughly jos
tied.
IsarTy in the day huge platards an-
nouncing that the bank of Montreal
had assumed charge Of the affairs OF
the United States Banking company
for the present were posted These
appeared to have the effect Of rcstor-
ing confidence In a measure and
toward noon the line diminished until
only a few persons were at the vim
dows. Soon afternoon, for some rea-
son which officials of the bank de- |
cline to explain. these placards were /
removed, whereupon the run was re-
sumed with renewed vigor
The manager of the National Bank |
Of Mexico denies that that institution
was behpd tho United Steatcs Bank
ing company in its present financial
as was said last evening
TO be fact
Visits to other representative bank
ars elected the information that
week ago they foresaw the run on the
United States Banking company ana
lad prepared TO meet any possible
emergency. Cash was piled high in
he vaults of every financial insttu-
ion here. but no sympathetic run oc-
,urred and no one fears a general
lanic here.
George i. Ham, formerly president
II the United States Banking COM
lany, and who, until he turned over
o the institution practically all of his
possessions, was the heaviest stock
lolder, was not at the sanitarium,
\ where yesterday he was reported TO
lave taken refuge. He left early to-
lay and could not be found.
kilograms from New York and
,ther cities in the United states and
rom Mexico poured into banking
iouses today Most were requests for
as to the possibilities Of a
'anic.
The eight million pesos on deposit :
With the United States Banking com {
amy are from people Of every nation
lty represented in Mexico. Many
americans and Canadians are among
hem.
This is the first run on bank here
a many years.