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Receiver for Ohio Company. St. Louis: Circuit Judge Wood Monday appointed the Mercantile Trust Company auxiliary receiver for the Missouri assets of Aultman, Miller & Co., of Akron, O. The company manufactures agricultural implements and its capital is $1,000,000.
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IT DIDN'T BREAK. Runs Started on Banks But to No Avail. St. Louis, Oct. 27.-As a result of disquieting rumors a run was start. ed today on the Mississippi Valley Trust Company, but just as fast as the depositors poured in they were given their money without hesita. tion. This also started a run at 1:30 this afternoon on the Mercan tile Trust Company by the savings depositors. The officials of the company declare they do not know what started the rumors. St. Louis, Oct. 27.-President Francis of the Louisiana Purchase Exposition and director of the Miss. Valley company made short speech to the depositors who filled the bank at 2 o'clock in which he tried to reassure them. He said the company was willing and able to pay all who wished their money, but he pleaded with depositors not to cause any apprehension on the part of the public.
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CAUSED BY DISQUIETING RUMORS Both Banks Concerned Have Big Surplus and Undivided ProfitsAsk No Help. St. Louis, Oct. Runs are in progress at noon on the Mississippi valley and the Mercantile Trust company banks, the two largest financial institutions in the city. The runs are due, it is said to rumors from Chicago and New York, that the concerns are embarrassed. The clearing house association at noon took steps to protect the institutions if needed. Both, however, ask no aid and are paying all obligations as fast as they can count the money. The capital of the Mississippi valley bank is $3,000,000 and its surplus and nudivided profits exceed $5,000,000. The capital of the Mercantile Trust company's bank is $3,000,000, with $6,800,000 surplus and undivided profits.
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ST. LOUIS, Oct. 27.-A run was in progress at noon on the Mississippi Valley and Meranctile Trust company banks, two of the largest financial institutions in the city. The runs were due, it is said, to rumors from Chirago and New York, that the concerns were embarrassed. The clearing house association at noon took steps to protect the institutions if needed.
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RUN ON BIG BANK AT ST. LOUIS TODAY Officers of Mississippi Valley Trust Company Do Not Fear Result. St. Louis, Oct. 27.-As a result of disquieting rumors a run was started today on the Mississippi Valley Trust company, but as fast as depositors poured in they were given their money without hesitation. The bank offieials say the bank is perfectly safe and do not fear the run. A run was started on the Mercantile Trust company this afternoon by savings depositors. The people suddenly thronged the corridors and in a very few moments a line had been formed from the bank window to the street. A policeman hurried to the scene to prevent disorder, while within the bank an official mingled with the crowd and assured everybody the deposits would be speedily paid. President Wade said he did not know the cause of the run and that everybody would be paid in full and he had no fear for the bank.
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UBLES IN ST. LOUIS The Depositors in the Savings Banks Started a Big Run Yesterday Afternoon. They Were Headed Off This Morning by the Thirty and Sixty-Day Clauses. St. Louis, Oct. 28.-On account of the run of te savings banks yesterday afternoon long before the hour of opening today lines of depositors stretched away from the closed doors of the Mississippi Valley Trust Co., the Lincoln Trust Co., and the Mercantile Trust Co., and the Missouri Trust Co. Most of them were working people and many were women. Owing to the enforcement of the thirty and sixty day rule, the depositors were not able to get their money. Vice President Meier of the Missouri Trust Co., made a statement to a crowd of depositors that all the banks and the trust companies in the city had sufficient funds to tide them over the present trouble.
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(Special Telegram to Evening Teller.) ST. LOUIS, Oct. 28.-At noon today the police are unable to handle the excited mob gathered about the entrances to the Mississippi Valley bank and the Mercantile Trust company. The run began yesterday and continued until closing time in the afternoon. Many women are in the crowds and in many instances they have been trampled under the heels of the excited mob and their clothing torn. Men and women are fighting for admission to the buildings and at noon today the police lost control of the mob. This morning a long line of people was at the doors a long time before the opening hour. Both banks took advantage of the thirty-day savings clause but paid all
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The St. Louis Banks, St. Louis, Oct. 28.-When the doors of the Mississippi Valley Trust and Mercantile Trust Companies were opened this morning, lines of depositors were in waiting, anxious to withdraw their funds, as a result of the scare resulting from Tuesday's run. Most of those in line were working men and women. Each was told that thirty to sixty days' notice to withdraw deposits would be required. No money was, paid out but declaration of intention to withdraw was made by many. The trust companies also have decided not to pay certificates of deposit before maturity. Small crowds were assembled in front of the other banking itstitutions. By 11 o'clock the crowd has increased to such an extent that a platoon of police was totally unable to control it and the officers stationed at the doors were swept away from their statlons almost as rapidly as they could regain them. There is much excitement.
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BIG RUN ON BANKS ST. LOUIS, Mo., Oct. 27.-Runs are Inprogress at noon day on the Mississippi Valley bank and the Mercatille Trust Company, two of the largest financial institutions in the city, The PUNN are due, It is said, to rumors from Chicago d New York UNIT both concerns are embarra Di it. The clearing house association at noon took steps to protect the Institutions If needed. Both, are paying than they can gount the money, The capital of Mississippi Valley bank is $3,000,000 and the surplus One undivided profits exceed $5,000,000. The canttal of the Mercantile Trust Comp is $3,000,000, with $6,800,000 surplus and Otherided profits.
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DEPOSITORS ARE AGAIN IN HURRY St, Louis Bank Officials, However, Say Trouble is Over MANY OFFERS OF ASSISTANCE Expression of Confidence and Such Offers on Part of National Banks Has Helped-Long Lines of Depositors. St Louis, October 28 The statement of President Julius S Walsh of the Mississippi Valley Trust company, whose sentiments are produced in interview given to the Associated Press by other trust company officials of St. Louis that "the situation is thoroughly in hand, "the excitement has subsided, and "from this on we expect business will be conducted in the usual orderly manner, expressed the opinion that seems general tonight, concerning the unwonted financial conditions which prevailed here during parts of yesterday and today. Officers of all the trust companies state that voluntary offers of help were received from financial institutions in New York. Philadelphia, Chicago New Orleans, Kansas City, Boston and many of the smaller towns of Missouri and Illinois, but all were declined for the reason that they had sufficient cash with which to handle their business Expression of confidence and offers of aid on the part of the national banks and financial institutions of St. Louis, has helped to strengthen the situation and restore confidence Lines of Depositors. Just before the hour of opening today the lines of depositors stretched away from the closed doors of the Mississippi Valley Trust company, the Lincoln Trust company, the Mercantile Trust company and the Missouri Trust company Small crowds were assembled before the doors of the other savings institutions It was observed most of that those line were in working people and many of them women whose savings heavy Owing to the action taken last night by the officials of the eight trust companies doing business St. Louis enLoreing thirty and sixty days' notice of Antention to funds, the depositors were not able to get any money All they could do to declare their intentions of their deposits at the end of the time taken advantage of by the companie. under their rules. pay The trust companies decided not to certificates of deposit before maturity Crowd Serges In. doors The greatest crush was before the at of the Mercantile Trust company Eighth and Locust streets. o'clock the doors were opened and the crowd surin with force that swept aside the lines of police and bank employe formed to preserve regular line to the windows of the paying tellers of the time The policemen were unable to handle the crowd and Festus Wade, president of the company, mounted chair and announced unless the depositors formed in line they would be ejected from the building He said was impossible wait in upon them if they insisted in crowding such This had the effect and some semblance of order was restored be the could As as persons the banking rooms had admisformed in two lines, and further sion refused until some of the first entrance; comers had left by separate then others admitted and forced they keep in line and leave soon as to had transacted their business. Many Women in the Crowd. the By 10 o'clock the crowd around an such trust company's building had increased to totally extent that the police were unable to control it. and ficers stationed at the doors the of. away from their were swept stations almost as constituted ly as they could resume them. Women rapidlarge percentage of the Many and crushed in the knocked off dresses were torn and hats jam. crowd The policemen in trying to handle pushed many of the instances personal gutter and in several them into the lights were narrowly averted. opened company When the were doors of the Mercantile Trust street east of the building just across the the while the street it was packed. street, both to the west, and Eighth comparatively clear north and south, were an hour Half later, crowded for however, both streets them keep were clear hundred feet, and all efforts distance to of several ractically wards police directing their efforts abandoned chiefly the doors. the maintaining some degree of order toE. John Davis during the Mississippi Valley second vice Trust president of the morning, made his company, addressed stone steps leading into the way to the follows: the throng assembled bank there and as Bank Official Speaks. of The you anxiety is expressed here by out entirely uncalled for, so many reason. Not one person and withmoney through this trust will lose any shall conduct our business company, and our paid ular to condition "There manner. whatever is whatever. no should change We have in have to in financial our always regin the are going are just soon 'All everyone, open future accounts and will be to be do so paid as will Every other reguday will will paid no they delay. just paid presented which here. paid it falls account due There due. to. is for reason any lar turn. There today in your Your and money invested worry. at it want you in the conyour tract. of no that official positively the Valley Mississippi not do We been need to money. Chicago for money. Trust company We has financially with and everything are splendid shape us I think the is prosperous Lapanxiety preciate every trust your company in same St. Louis. true of that of gentleman this company and officer and assure stockholder you through groundless. :his company.- and you will your lose fears no money Henry M. Meir's of the Henry M. Meir, vice Statement. president
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ST. LOUIS, Mo., Oct. 28.-When the doors of the Mississippi Valley bank and the Mercantile Trust company's house were opened this morning. long lines of depositors stood waiting to withdraw their deposits. The banks took advantage of the 30-day notice of an attempted run. Small crowds stood in front of other banking institutions. The runs became so bad by noon, that the police were unable to handie the crowds. Men and women were trampled under foot, and the clothing torn from their bodles. The
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PANIC ENDED Announcement That Banking Concerns Had Millions Coming, Quiets Fears of Public ST. LOUIS Oct. 29:-There la not the alightest sign of excitement at the Mississippi Valley and the Mercantile Trust company banks this morning. The announcement that $2,000,000 was enroute from New York and $10,000,000 and been offered by other banks of the city, not only ended the panic, but la causing many to return deposits.
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the RUN CONTINUMS. Wednesday Morning Found Crowds Walling to Withdraw Funds. St. Louis, Oct. 28.-In spite of the reasouring statements of officers of the local trust companies and financiers of the highest standing, all asserting the stability of Mt. Louis institutions of deposit, crowde began to gather in front of Mercantile and Mississippi Valley Trust Co. officer a couple of hours before the regular opening hour. Womon largely predominated,and no amount of assurance was sufficient to convince them that their deposits were safe. Several men of financial prominence went through the crowds, advising calmness, and declaring that the money of depositors was safe, and that the run had been started by speculators who sought to injure St. Louis' financial standing. This, with the more thoughtful, had its effect, and many dropped out of the crowds.