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f8c1ca511e154ea9Accommodated withdrawals, Public signal of financial health
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Run a Keuosha Bank. KENOSHA. Wis., July 3 -A run is being made on the First National bank of this city It began Wednesday at noon and was resumed Thursday morning. The bank has a capital of $100,000. and is one of the strongest in the state Although large deposits are being withdrawn it is not believed the bank is in the slightest danger.
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TELEGRAPHIC NOTES. Kenosha, Wis., July 3.-Unfounded rumors were the cause of a run on the First National Bank here yesterday. A few days ago one of the big manufacturers paid all his men off in checks. Yesterday morning the men went to the bank to have their checks cashed. There were a great many of them, and the fact that they were standing around the bank started a rumor that the bank was in financial distress, and within an hour a run had been begun by the smaller depositors. The bank paid out $300,000 yesterday, but it.is not probable that the run will be resumed. Port Townsend, Wash., July 3.-The British bark Cambusdoon, Captain McDonald, was reported at noon yesterday off Cape Flattery. She had been given up for lost. One hundred and seventy-one days ago the Cambusdoon sailed from Java, bound for British Columbia to load. and from that time until yesterday's report nothing had been heard from her. Beatrice, Neb., July 3.-The Blue River. as a result of the recent heavy rainfall, has reached the danger stage, and is within one foot of the highwater mark of 1892., Daniel Sleeth, son of the Rev. Asa Sleeth, was drowned yesterday. At Wimore twenty-five families are left homeless. with water surrounding their houses. In the farming districts crops were submerged and some live stock drowned. The water is receding to-day. Lockport, N. Y., July 3.-The canal-boat Kirk. of the Buffalo, Rochester and Syracuse line, was burned at the wharf here early this morning. She carried a valuable cargo of gasoline, mowing machines and general merchandise. A warehouse adjoining caught fire from the boat. and was also burned to the ground. Buffalo, July 3.-Health Commissioner Wende this morning announced the result of the compilation of the death rate of Buffalo for the first half of the present year. It shows a percentage of 11.67, said to be the lowest death rate of any city in the world. Cleveland, Ohio, July 3.-Mrs. William Brader, the wife of a gardener, was found at her home in the suburban village of Covedale early this morning with her throat cut. The house had been robbed and set on fire. A party of berry-pickers in the neighborhood extinguished the blaze and gave the alarm. There was evidence of a fierce struggle. Mr. Brader had left home at 2 o'clock for the day with a wagon load of produce. leaving the hired man at home. The atter cannot be found. Bay City, Mich., July 3.-Eight hundred men employed in E. W. Wheeler & Co.'s shipyard went on strike this morning. They include riveters, chippers, caulkers, angle and beam smiths. Their grievance is that one of their number recently left their union and refuses to join It again. About 600 men, including apprentices, machinists and other laborers, remain in the yard. They undoubtedly will be shut out by the closing of the yard. Buffalo, July 3.-William Blankenburg, out of work, in poor health and despondent, hanged himself this morning in his brother's house, at No. 14 Franklin-st. He came here from Chicago about a year ago.
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MADE THEM NERVOUS. Depositors of a Kenosha Bank Thrown Into a Flurry by Idle Street Rumors. Kenosha, Wis., July 2.-[Special.]Unfounded rumors were the cause of quite a run on the First National bank here today. A few days ago one of the big manufacturers paid all of his men off in checks. This morning the men went to the First National bank to have their checks cashed. There were a great many of them and the fact that they were standing around the bank caused a rumor to be started that the bank was in financial stress and within an hour a run had been begun by the smaller depositors. Mr. Simmons, the president of the bank, was seen shortly before noon and made the following statement: "As near as I can learn the run this morning was started by idle rumors. There were a number of men who were here to cash their checks, and the fact that they all came to our bank no doubt caused the rumor to spread around that everything was not all right. There will not be the slightest trouble, however, as the depositors will no doubt return their money when they find out that their fears are groundless. We paid out about $300,000 this morning and can have that much more tomorrow morning if necessary. There is only about $600,000 due the depositors so it is plain to be seen that there is no ground for fear on the part of the depositors. Everyone of them can have their money in full at once if they SO desire. The bank was never in a better condition since its organization." The large depositors have not drawn a cent from the bank and they condemn the persons who started the rumor. It IS believed now that the trouble has passed over and that the small depositors will return their money tomorrow.
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MADE THEM NERVOUS. Depositors of a Kenosha Bank Thrown Into a Flurry by Idle Street Rumors. Kenosha, Wis., July 2.-[Special.]Unfounded rumors were the cause of quite a run on the First National bank here today. A few days ago one of the big manufacturers paid all of his men off in checks. This morning the men went to the First National bank to have their checks cashed. There were a great many of them and the fact that they were standing around the bank caused a rumor to be started that the bank was in financial stress and within an hour a run had been begun by the smaller depositors. Mr. Simmons, the president of the bank, was seen shortly before noon and made the following statement: "As near as I can learn the run this morning was started by idle rumors. There were a number of men who were here to cash their checks, and the fact that they all came to our bank no doubt caused the rumor to spread around that everything was not all right. There will not be the slightest trouble, however, as the depositors will no doubt return their money when they find out that their fears are groundless. We paid out about $300,000 this morning and can have that much more tomorrow morning if necessary. There is only about $600,000 due the depositors SO it is plain to be seen that there is no ground for fear on the part of the depositors. Everyone of them can have their money in full at once if they so desire. The bank was never in a better condition since its organization." The large depositors have not drawn a cent from the bank and they condemn the persons who started the rumor. It IS believed now that the trouble has passed over and that the small depositors will return their money tomorrow.
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Run on Kenosha (Wis.) Bank. Kenosha, Wis., July 3.-A run is being made on the First national bank of this city. It began Wednesday at noon, and was resumed Thursday morning. The bank has a capital of $1,000,000, and is one of the strongest in the state. Although large deposits are being withdrawn it is not believed the bank is in the slightest danger.
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TEMPEST IN A TEAPOT. Someone Spreads a Foolish Report and Starts a Bank Run. Somebody or bodies deserve a leather medal as a disastrous fool. By starting a false report or a dozen false reports a small feeling of panic has been spread among the smail depositors of the First National bank and a small sized run has been the result. One story was that a large manufacturing concern had paid its men with checks. These men appearing at the bank to get their money started the rumor that there was a run. Others say that two girls were in the bank and saw two men take out sacks of money for a pay roll and went home and told the neighbors that there must be a run on the bank and that everybody was taking his money out. Another was to the effect that a traveling man from Chicago had told that Z. G. Simmons held all the city bonds and these bonds had been declared good for nothing by the State supreme court. How that could have anything to do with the bank no one knows. A dozen other equally silly stories have gained circulation somehow. No one actually knows how, when or where these stories started. So far as can be learned there is not the least foundation for any of them. The merchants and manufacturers of city know this and are not troubling the bank. In fact they have deposited there the same as usual today, one firm having deposited $22,000 in currency. A representative of this paper called on President Simmons this morning and asked him about the situation. He said: " The First National bank has plenty of money at its command to pay every depositor as fast as he can call for it." Mr. Simmons was very cool and calm about the matter. He stated that the bank was never in better condition in its existence than it is today. This morning there was over $300,000 in the vault of ready money for depositors and the American Express wagon has taken enough money there today to meet every demand, this money being sent in by the bank's reserve agents. This is one of those incidents in business life which is beyond explanation. The " panic" or " scare" or whatever it may be called, will be all over in a day or two and people will see how foolish they have been. They will draw out their money today, take it home, look at it and feel of it to be sure they have it, worry over having it in the house and then take it back to the bank where it should have been left. The whole affair is the result of idle talk, and after all, in a small way indicates the financial strength of the First National Bank.
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Run on Kenosha (Wis.) Bank. Kenosha, Wis., July 3.-A run is being made on the First national bank of this city. It began Wednesday at noon, and was resumed Thursday morning. The bank has a capital of $1,000,000, and is one of the strongest in the state. Although large deposits are being withdrawn it is not believed the bank is in the slightest danger.
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KENOSHA, Wis., July 2.-A run was started this morning on the First Na tional Bank, and much excitement prevails. Over $300,000 was paid out this morning, but mostly in small amounts. The run was started by irresponsible parties, and for a time it looked as though the big depositors would fall in line.
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MADE THEM NERVOUS. Depositors of a Kenosha Bank Thrown Into a Flurry by Idle Street Rumors. Kenosha, Wis., July 2.-[Special.]Unfounded rumors were the cause of quite a run on the First National bank here today. A few days ago one of the big manufacturers paid all of his men off in checks. This morning the men went to the First National bank to have their checks cashed. There were a great many of them and the fact that they were standing around the bank caused a rumor to be started that the bank was in financial stress and within an hour a run had been begun by the smaller depositors. Mr. Simmons, the president of the bank, was seen shortly before noon and made the following statement: "As near as I can learn the run this morning was started by idle rumors. There were a number of men who were here to cash their checks, and the fact that they all came to our bank no doubt caused the rumor to spread around that everything was not all right. There will not be the slightest trouble, however, as the depositors will no doubt return their money when they find out that their fears are groundless. We paid out about $300,000 this morning and can have that much more tomorrow morning if necessary. There is only about $600,000 due the depositors so it is plain to be seen that there is no ground for fear on the part of the depositors. Everyone of them can have their money in full at once if they so desire. The bank was never in a better condition since its organization." The large depositors have not drawn a cent from the bank and they condemn the persons who started the rumor. It IS believed now that the trouble has passed over and that the small depositors will return their money tomorrow.
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Run on a Bank. Unfounded rumors were the cause of quite a run on the First national bank at Kenosha. One of the big manufacturers paid all of his men off in checks, and the men went to the bank to have them cashed. There were a great many of them, and the fact that they were standing around the bank caused a rumor to be started that the bank was in financial stress, and within an hour a run had been begun by the smaller depositors. The bank paid out $300,000.