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ALL LOWELL BANKS SOUND, GUY REPORTS Institution for Savings Experienced All-Day Run Special Dispatch to the Globe LOWELL, April 29—In a telegram to Mayor Charles H. Slowey tonight, Bank Commissioner Arthur Guy said, "The Lowell Institution for Savings, as well as all other Lowell banks, is in sound financial condition. Depositors have no cause for alarm." The telegram from Guy followed a hectic day in which hundreds of people stormed and milled about the bank from 10 in the morning until 5 in the afternoon. James G. Hill, president of the bank, ordered that it be kept open two hours beyond closing time and assured the depositors that they had no cause for alarm. It was impossible to trace the idle rumors which led to the run on the bank. Rev Fr Charles J. Galligan, pastor of St Margaret's Church; Walter E. Guyette and Mayor Slowey spoke to the crowd of depositors during the peak of the run when traffic along Central st was blocked for some time. During the morning all withdrawals were paid in cash and early in the afternoon by check. Late in the afternoon, the bank invoked the 90-day rule and limited withdrawals to $100. Pres Hill said the action was taken only as a temporary measure, partly because of the panicky condition that prevailed and partly because of the greater number of people who could be served before closing time. He said that the bank will be open today.