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Governor Flower to the Reseue. WATERTOWN, N. Y., July 6.-A run has been started on the Jefferson County Savings Bank in this city. Governor Flower was a witness of the run, and this afternoon, the rush continuing, Governor Flower, J. R. Stebbins, president of the Agricultural Insurance Company, and eevy e'al preminent bankers and financiers signed and published a statement personally guaranteeing that the depositors shall be paid in full. It is believed that this will stop the run.
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SAVINGS-BANK RUN. Action on the Part of Gov. Flower and Others Will Probably Stop It. (By telegraph to the Dispatch.) WATERTOWN, N. Y., July 6.-A run has been started on the Jefferson County Savings Bank in this city. Governor Flower was a witness of the run and this afternoon. the rush continuing. Governor Flower. J. R. Stebbins, president of the Agricultural Insurance Company, and several prominent bankers and financiers signed and published a statement personally guaranteeing that the depositors shall be paid in full. It is believed that this will stop the run.
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FOURTEEN REPORTED KILLED, Minneapolis, Minn., July 6.-A special to the Tribune from Alfa, Ia., says: "Meagre reports just received indicate that a terrible tornado passed about four miles south of this place between Aurelia and Newell. Fourteen persons are reported killed and a large number injured." Gov. Flower Stops a Run. Watertown, N. Y.. July 6.-A run has been started on Jefferson County Savings Bank in this city. Gov. Flower was a witness of the run, and this afternoon, the rush continuing, Gov. Flower, J. R. Stebbins, President of the Agricultuaal Insurance Company, and several prominent bankers and financiers signed and published a statement personally, guaranteeing that depositors shall be paid in full. It is believed that this will stop the run.
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FLOWER'S PROMPT ACTION. The Governor's Guarantee St ops a Sense less Run on a Solid Bank. WATERTOWN, N. Y., July 7.-A run was started on the Jefferson County Savings bank in this city yesterday. The run subsided shortly after 4 o'clock, when the oflicers of the bank refused to take advantage of the usual hour for closing, and continued to pay all depositors who presented demands for their funds. This action, together with a guarantee given by Governor Flower and other prominent finaneiers, and the work of influential citizens among depositors, who were informed as to the bank's solid condition, had a most satisfactory effect. Governor Flower appeared among the depositors twice during the day and made speeches to them. In substance the governor said: "In panicky times like these, when the people all want their money, you, by your actions, force the banks to keep a larger amount on hand than usual. To get this money the bank officials have to refuse to loan money on mortgages, and also refuse to loan it on commercial paper, and therefore you restrict trade and throw labor out of employment. By your action you force the bank to foreclose on the mortgage, held by it. The merchant is compelled to pay his note or suspend business, and the bank is forced to dispose of its bonds. Thus, in demanding money which you do not need, you are forcing the foreclosures of mortgages, driving men from their homes and causing the suspension of business industries generally."
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Governor Flower Calmed Depositors. WATERTOWN, N. Y., July7.-The run on the Jefferson County Savings bank subsided when the officers of the bank refused to take advantage of the usual hour for closing and continued to pay all depositors who presented demands for their funds. This action, together with the guarantee given by Governor Flower and other prominent financiers, had a most satisfactory effect.
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The Savings Bank Run Ended. WATERTOWN, N. Y., July &-The run on the Jefferson County Savings bank has ended. Some depositors who drew during the panic have returned their money.
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Kuu on the Jefferson County Bank Ended. WATERTOWN. N. Y.. July 7.--The run on the Jefferson County Savings Bank to-day was insignificant. Some depositors who drew out money during the panic yesterday have returned it and it is now believed that there will be no further trouble.
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Governor Flower Stopped the Run. WATERTOWN, N. Y., July i.-During a run on the Jefferson County Savings bank in this city, Governer Flower in a speech gave assurance that the bank was entirely safe. The speech had an excellent effect.
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Deposits Being Made at Watertown. WATERTOWN, N. Y., July 8.-Therun on the Jefferson County Savings bank has been significant. Some depositors who drew during the panic have returned their money and it is now believed that there will be no further trouble in this city.
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ON the 7th a run was started on the Jefferson County Savings bank at Watertown, N. Y. Gov. Flower, who was there, made two speeches to the depositors and published a statement that he, with others, would guarantee payment of claims in full. The bank continued paying all demands after closing hours and it is believed the run is over.