10590. Missouri Trust Company (Saint Louis, MO)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
October 27, 1903
Location
Saint Louis, Missouri (38.627, -90.198)

Metadata

Model
gpt-5-mini
Short Digest
6f9b09de

Response Measures

Accommodated withdrawals, Public signal of financial health, Partial suspension

Description

Incipient run on savings department Oct 27–28, 1903 caused by a Chicago rumor about directors' failed loan negotiation. The Missouri Trust Company experienced crowds but met demands; no suspension or receivership occurred. Multiple articles report waiving the 60-day clause to pay depositors, later enforcement of 30/60 rule by trust companies, and shipments of gold restoring confidence.

Events (1)
1. October 27, 1903 Run
Cause
Rumor Or Misinformation
Cause Details
Disquieting rumor from Chicago that savings institutions were unsound and that two directors had failed to negotiate a $2,000,000 loan; directors called the report a canard.
Measures
Waived 60-day withholding clause and paid amounts promptly regardless of size; received shipments of gold and declined outside financial assistance.
Newspaper Excerpt
At the Missouri Trust Company a number of depositors collected to demand payment, but the crowd soon thinned, and before 3 o'clock the incipient run had ceased.
Source
newspapers

Newspaper Articles (11)
1. October 28, 1903 New-York Tribune New York, NY
Article from New-York Tribune, October 28, 1903

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RUN ON ST. LOUIS BANKS THREE ARE BESIEGED. All Stand Strain-Directors of One Pledge Fortunes to Pay Deposits. St. Louis, Oct. 27.-From shortly before 1 o'clock to-day until the closing hour-3 o'clockruns were made on the savings departments of three banks of this city, and, at the same time. more than the ordinary amount of withdrawals by savings depositors was noticeable in the other banking institutions. The run, so far as it can be traced. was started by a disquieting rumor from the outside, to the effect that the savings institutions here were unsound. With 8 rush. the corridors of the Lincoln Trust Company. the Mercantile Trust Company and the Mississippi Valley Trust Company were filled with men and women, all eager to withdraw their money. The scene was the same in all three banks. A line of people, with bankbooks in their hands and eager, anxious faces, stretched out into the street, and intermingled were policemen and bank officials, counselling calmness and giving assurances of solvency. It is stated that the rumor that started the run came from Chicago, and was to the effect that two directors of the Mississippi Valley Trust Company had recently tried and failed to negotiate a loan of $2,000,000 in that city. This rumor was pronounced an absolute canard by the directors concerned. The directors of the Mercantile Trust Company, representing several millions of dollars. have signed the followting agreement: We. the directors of the Mercantile Trust Company. knowing that all its affairs are in sound and safe condition, and that every dollar of its obligations of every nature will be met. do hereby bind ourselves individually to the extent of our individual fortunes to the payment in full of all current and savings deposit accounts, and we do hereby guarantee such payments. As soon as the runs started all other business was laid aside, and every facility was afforded for the prompt payment of deposits. The clause in their bylaws which gives the banks the privilege of withholding payment until sixty days after notification was waived. and amounts were paid rapidly, regardless of their size. There was no disorder manifested at any of the institutions, and in many cases depositors who had hurried to withdraw accounts departed without their money. after having conversed a few moments with the officials and being made confident that the bank would continue to do business. At the Missouri Trust Company a number of depositors collected to demand payment, but the crowd soon thinned. and before 3 o'clock the incipient run had ceased. Presidents of the different national banks assembled in the afternoon and issued a statement, in which they announced that the banks of the city were all perfectly solvent and amply able to liquidate all demands. All the banks closed at 3 o'clock. the usual closing hour. Eight trust companies here united to-night in giving notice that from to-morrow the thirty and sixty day clause in their bylaws for savings deposits will be invoked. and no time certificates will be paid till maturity. Seventy-five bankers and financiers attended the conference at the offices of the Mississippi Valley Trust Company. The stock market was adversely affected yesterday afternoon by the reports from St. Louis of trust companies there being in difficulties, the general list selling off sharply; but on later reassuring advices the losses were partly recovered. The Mississippi Valley Trust Company was founded in 1890, and has a capital of $3,000,000. and surplus and undivided profits of $5,150,779 Its deposits are in excess of $23,000,000. and on June 30 its total assets were $31,530,054. Its president is Julius S Walsh. and in its board of directors are many other men of large wealth and influence, among them Harrison I Drummond David R. Francis. H. Clay Pierce, Joseph Ramsey, jr., president of the Wabash Railroad Company, and Rolla Wells, Mayor of St. Louis The Mercantile Trust Company, although a younger institution, having been in existence only since is also among the strongest and largest trust companies of St. Louis Its capital is $3,000.000, and its surplus and undivided profits are $6,754.678. The total assets are $21,778,603. The president of the Mercantile is Festus J Wade, and among the directors are James Campbell, R. C. Kerens, Harry Scullin, Corwin H Spencer and Emerson McMillin. It was the Mercantile Trust Company of St. Louis, it will be remembered. which acted for the Rock Island Railroad in its successful contest a year ago last spring for control of the Wiggins Ferry Company, the Mississippi Valley Trust Company acting for the opposing interests The Lincoln Trust Company. which began busiDESE in 1894, has $2,000,000 capital stock and $1,713,870 surplus and undivided profits Its total assets, according to a recent statement. are about $9,600 000

2. October 28, 1903 Santa Fe New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe New Mexican, October 28, 1903

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BIG RUN TODAY ON ST. LOUIS BANKS Long Lines of Depositors Stretched Away from Closed Doors Before Opening Houses. St. Louis, Oct. 28-Long before the hour of opening today, 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. Owing to the action taken last night by officials of the eight trust companies of St. Louis requiring thirty anu sixty days' notice of the intention to withdraw funds, the depositors were unable to get any money. The greatest crowd was before the doors of the Mercantile Trust company. At 9 o'clock the doors opened and the crowd surged in with such force that they swept aside the lines of police and bank employes. Vice President Festus J. Wade mounted a chair and made the announcement that unless the depositors formed in a line they would be ejected from the building. A semblance of order was restored. By 10 o'clock the crowd in front of the building was SO great that the police were totally unable to control it and the officers at the doors were swept away. Women, who constituted a large percentage of the crowd, were crushed in the jam, and their clothing torn. Many were pushed into the gutter and several personal fights were narrowly averted. At the various institutions named officials stated to the Associated Press that current accounts are being received and paid out as usual. The crowds which thronged the doors, gradually dwindled, the arrival of several boxes of gold and silver in express wagons, guarded by armed messengers, seeming to restore confidence in a degree. Many of the large mercantile houses announced to their employes that they would cash any checks on the Trust companies. At noon the withdrawals of daily balances from the Trust companies by small depositors was decreasing and the uneasiness somewhat subsided. Officials of the companies expected the incident to end before the close of banking hours today. This afternoon the crowds at the dit-

3. October 28, 1903 The News & Observer Raleigh, NC
Article from The News & Observer, October 28, 1903

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bank the privilege of withholding payment until sixty days after notification was waived and amounts were paid rapidly, regardless o ftheir size. There was no disorder manifested at any of the institutions, and in many cases depositors who had hurried to withdraw amounts departed without their money, after having conversed a few moments with the officials and been made confident that the bank would continue business. At the Missouri Trust Company a num ber of depositors had collected to demand payment, but the crowd soon thinned out and before three o'clock the incipient run had ceased. Presidents of the different national banks assembled during the afternoon and issued a statement in which they announced that the banks of St. Louis are all perfectly solvent and amply able to liquidate all demands. All the banks closed at three o'clock, the usual closing hour, and announcement was made that they will open tomorrow morning at the usual hour, ten o'clock, and will meet all demands made.

4. October 28, 1903 The Roswell Daily Record Roswell, NM
Article from The Roswell Daily Record, October 28, 1903

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CONFIDENCE RESTORED St. Louis Depositors Relieved by the Sight of Boxes of Gold and Silver St. Louis, Mo., Oct. 28.-Long before the opening hour today, long lines of depositors stationed themselves at the outer doors of the Mississippi Valley Trust Company and the Missouri Trust Company. Last night the officials of eight trust companies met and made a rule requiring thirty and sixty days notice from depositors before they should be able to withdraw their accounts. The officiais of these institutions state to the Associated Press representative that the current accounts are being received and paid out as usual. The crowds which early this morning thronged the doors gradually dwindled 7' when there were brought :into the banks from express wagons large boxes of gold and silver guarded by armed messengers. This sight seemed to restore CORPORATION

5. October 28, 1903 Daily New Dominion Morgantown, WV
Article from Daily New Dominion, October 28, 1903

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Continuous Line of Depositors Draw Savings from St. Louis Banks. INSTITUTIONS ARE ALL SOLVENT Incipient Scare Believed Over-Report Said to Have Come from Chicago. Corridors and Street Filled With People Eager to Withdraw Money. St. Louis, Oct. 28.-From shortly before 1 o'clock Tuesday until the closing hour, 3 o'clock, runs were made on the savings departments of three banks in St. Louis, and at the same time more than the ordinary amount of withdrawals by savings depositors were noticeable in the other banking institutions. The run, SO far as it can be traced, was started by a disquieting rumor from the outside that seemed to strike St. Louis shortly after noon, to the effect that the savings institutions here were unsound. With a rush the corridors of the Lincoln Trust company, the Mercantile Trust company and the Mississippi Valley Trust company were filled with men and women, all eager to withdraw their money. Scene Duplicated in Other Banks. The scene in any one bank was duplicated in the other two. A line of people with bank books in their hands and faces eagerly scanning the little barred windows of the bank tellers stretched out into the street, and intermingled were policemen and bank officials counseling calmness and giving assurances of solvency. It is stated that the rumor that started the run came from Chicago and was to the effect that two directors of the Mississippi Valley Trust company had recently endeavored to negotiate a loan of $2,000,000 in that city and had been refused. This rumor was pronounced an absolute canard by the directors concerned. As soon as the runs started all other business was laid aside and every facility was afforded for the prompt payment of deposits. The clauses which give the banks privilege of withholding payment until 10 days after notification was waived and amounts were paid rapidly, regardless of their size. No Disorder Manifested. There was no disorder manifested at any of the institutions, and in many cases depositors who had hurried to withdraw amounts departed without their money after having conversed few moments with the officials and been made confident that the bank would continue to do business. At the Missouri Trust company a number of depositors had collected to demand payment, but the crowd soon thinned out and before 3 o'clock the incipient run had ceased. Presidents of the 'different national banks assembled during the afternoon and issued a statement in which they announced that the banks of St. Louis are all perfectly solvent and amply able to liquidate all demands. All the banks closed at 3 o'cock, the usual closing hour, and announcement was made that they would open this morning at the usual hour, 10 o'clock, and will meet all demands made. The directors of the different trust companies have decided to enforce the 30 and 60-day notification clause, and this, it is believed, will doubtless stop all tendency to a continuation of runs.

6. October 28, 1903 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, October 28, 1903

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mor was pronounced an absolute canard by the directors concerned. Sixty-Day Clause Was Waived. As soon as the runs started all other business was laid aside and every facility was afforded for the prompt payment of deposits. The clause which gives the bank the privilege of withholding payment until sixty days after notification was waived, and amounts were para rapidly, regardless of their size. There was no disorder manifesetd at any of the institutions, and in many cases depositors who had hurried to withdraw amounts departed without their money, after having conversed a few moments with the officials and been made confident that the bank would continue to do business. Will Meet All Demands. At the Missouri Trust company a number of depositors had collected to demand payment, but the crowd soon thinned out and before 3 p. m. the incipient run had ceased. Presidents of the different national banks assembled during the afternoonand issued a statement that the banks of St. Louis are all perfectly solvent, and amply able to liquidate all demands. All the banks closed at 3 p. m., the usual closing hour, and gave out word that they would open this morning at the usual hour, 10 o'clock, and meet all demands made. New Orleans Draws Money. Chicago, Oct. 28.-New Orleans drew moderately on the sub-treasury today for crop money.

7. October 28, 1903 The Savannah Morning News Savannah, GA
Article from The Savannah Morning News, October 28, 1903

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RUN ON THE BANKS WAS STARTED IN ST. LOUIS BY A CHICAGO RUMOR. ALL DEMANDS WERE MET. OFFICIALS PARTIALLY CONVINCED DEPOSITORS OF THEIR SAFETY. It Was Reported from Chicago That Two Directors of a St. Louis Institution Had Been Unable to Negotiate a $2,000,000 Loan-On the Savings Departments of Three Banks the Run Then Commenced. Anxiety Finally Allayed. St. Louis, Mo., Oct. 27.-From shortly before 1 o'clock to-day until the closing hour, 3 o'clock, runs were made on the savings departments of three banks of St. Louis, and at the same time more than the ordinary amount of withdrawals by depositors were noticeable in the other banking institutions. The run, so far as it can be traced. was started by a disquieting rumor from the outside that seemed to strike St. Louis shortly after noon, to the effect that the savings institutions here were unsound. With a rush the corridors of the Lincoln Trust Company, the Mercantile Trust Company and the Mississippi Valley Trust Company were filled with men and women, all eager to withdraw their money. The scene in any one bank was duplicated in the other two. A line of people, with bankbooks in their hands and faces eagerly scanning the little barred windows of the bank tellers, stretched out into the street and intermingled, were policemen and bank officials counselling calmness and giving assurances of solvency. It is stated that the rumor that started the run came from Chicago, and was to the effect that two directors of the Mississippi Valley Trust Company had recently endeavored to negotiate a loan of $2,000,000 in that city, and had been refused. To-day this rumor was pronounced an absolute canard by the directors concerned. As soon as the runs started all other business was laid aside, and every facility was afforded for the prompt payment of deposits. The clause which gives the bank the privilege of withholding payment until sixty days after notification was waived, and amounts were paid rapidly, regardless of their size. There was no disorder manitested at any of the institutions, and in many cases depositors, who had hurried to withdraw amounts, departed without their money, after having conversed a few moments with the officials and had been made confident that the bank would continue to do business. At the Missouri Trust Company a number of depositors had collected to demand payment, but the crowd soon thinned out, and before 3 o'clock the incipient run had ceased. Presidents of the different national banks assembled during the afternoon and issued a statement, in which they announced that the banks of St. Louis are perfectly solvent and amply able to liquidate all demands. All the banks closed at 3 o'clock, the usual hour, and announcement was made that they will open to-morrow morning at the usual hour, at 10 o'clock, and will meet all demands made. The directors of the different trust companies at meetings to-night decided to enforce the thirty and sixty day notification clause to-morrow and this, it is believed, will doubtless stop all tendency to a continuation of the runs. A statement was given out saying that the trust companies were In need of no assistance whatever.

8. October 29, 1903 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, October 29, 1903

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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

9. October 29, 1903 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, October 29, 1903

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No Further Excitement Over the Run That Was Started by False Rumors on Tuesday. CONFIDENCE FULLY RESTORED BANK OFFICIALS UNANIMOUS IN SAYING THE FLURRY IS OVER. Many Offers of Financial Aid-Over $2,000,000 in Gold Transferred from the Subtrensury. ST. LOUIS, Oct. 28.-The statement of President Julius S. Walsh, of the Mississippi Trust Company, whose sentiments are echoed in interviews 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," expresses the opinion that seems general to-night after the unwonted financial conditions which prevailed here during parts of yesterday and to-day. 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. Expressions of confidence and offers of aid on the part of the national banks, financial and other institutions of St. Louis helped to strengthen the situation and restore confidence. "The flurry is over," said Mr. A. A. B. Woerheide, president of the Lincoln Trust Company. "Long before our regular closing hour arrived all those who desired their money had received it and departed. There is no reason for further concern." President Julius S. Walsh, of the Mississippi Trust Company, said: "There is absolutely nothing in the past or present condition of our company to justify the slightest apprehension. All demands of every kind were met, and we had more cash on hand when we closed this afternoon than when we opened yesterday morning." Festus J. Wade, president of the Mercantile Trust Company, said: "The Mercantile Trust Company received voluntary offers of financial institutions of New York, Philadelphia, New Orleans. Kansas City, St. Joseph, Chicago and San Francisco sufficient to pay off every dollar of its depositors at once. All offers were, while highly appreciated, respectfully declined, as we closed the day with over a million dollars more cash than we had when the silly run began." John W. Harrison, first vice president of the Missouri Trust Company, said: "Other financial institutions have placed at our disposal any amount of cash funds that we might ask for in this contingency. We are pleased to say, however, that we have not been obliged to ask any financial aid whatever and to-night will have over $400,000 of cash in our vaults and ample funds at our command to meet all our liabilities of every description." Mr. G. A. Buder, counsel for the American Central Trust Company, said: "Our company is practically unaffected by the present flurry. I believe the situation is cleared and that the worst is over." Lawrence B. Pierce, first vice president of the Commonwealth Trust Company, stated that their deposits had been many times the amount of the withdrawals. Henry Koehler, jr., of the Germania Trust Company, said that nothing of any consequence was drawn out of his Institution; and that offers of aid received from other financial centers were thankfully declined as unnecessary. Thomas H. West, president of the St. Louis Union Trust Company, stated that the so-called run was past and had done no damage except to depositors who had withdrawn their money. "Only a few of our smallest depositors withdrew their savings and they will be back again," said Mr. West. Many depositors lined up at the savings banks this morning but were notified they must give the requisite notice of withdrawal. There was no excitement and the crowds soon dwindled away. NEW YORK, Oct. 28.-The total transfers to St. Louis at the subtreasury were $2,100,000, making a grand total to St. Louis, Chicago and New Orleans of $2,950,000.

10. October 30, 1903 The Semi-Weekly Messenger Wilmington, NC
Article from The Semi-Weekly Messenger, October 30, 1903

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ment of President Julius S. Walsh, of the Mississippi Trust Company, whose sentiments are echoed 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 expresses the opinion that seems general tonight, after 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, Bosand many of the smaller towns and Illinois, for the reason that of declined, ton Missouri but they all handle were had sufficient cash with which to their business Expressions of confidence and offers of aid on the part of the national banks, financial and other institutions of St. Louis have helped to strengthen the situation and restore confidence. Long before 10 o'clock the hour of opening, lines of depositors stretched the away from the closed doors of Mississippi Valley Trust Company, the Lincoln Trust Company, the Mer- Miscantile Trust Company and the souri Trust Company. Small crowds of assembled before the doors were some of the other savings institutions of It was observed that most also. those in line were working people and of them women, whose savings 1 many were not heavy. Owing to the action the taken last night by the officials of trust companies doing business requiring thirty of intention to eight day in St. notices Louis, withdraw and to sixty get funds depositors were not able money. All they could do was to declare any their intention of withdrawing the their deposits at expiration of time limit. crush was before the the Mercantile doors The greatest of Trust streets. Comon Eighth and Locust o'clock the doors were S crowd surged in a and pany, At 9 the with of opened police force aside the lines employes le line to the of and serve that bank swept a regular formed windows policement to prethe paying tellers. The t unable to handle the crowds Mer- and e were Festus J. Wade, president of the it cantile Trust Company. mounted a n chair and made a statement that they unless the depositors formed in line builde would be all ejected from the imn He explained that it was ining. possible to wait on them if they manner. it on crowding in such a is sisted announcement had the desired order effect This and some semblance of S was restored. e 10 o'clock the crowd around in- the t By company's building had the e creased trust to such an extent that control e s police and were the totally officers unable stationed to at their the t it doors were swept away from they stations almost as rapidly as could regain them. Women who of con the stituted a large percentage and crowd were crushed in the jam torn n the struggle their dresses were po: in their hats knocked off. The crowd and in trying to handle the S pushed licemen many of them into the personal gutter, several instances init and fights in were averted only by the it terposition of cooler persons. n Shortly after the doors of the opened, MerIs cantile Trust Company were dis10 streets were crowded for a all tance the of several hundred feet and pracefforts to keep them clear were diabandoned, while the police toward rected tically their efforts chiefly at doors. maintaining some degree of order r the 1 o'clock in the afternoon, the the At of small depositors in trust uneasiness companies seemed to have were been this hour few depositors accounts or daily only removed. a balance At withdrawing there giving deposits nowithdrawal of - Mercantile and the who is at Many rice the of savings persons Mississipp! yesterday today and in some of is it Valley withdrew again companies. money opened. deposited instances accounts were new of the different 1- ef Officers savings institutions to the dereassuring speecnes this Ie before their doors e to send others away. silmade positors and The and arit helped of several boxes of gold by in express wagons deIe officers seemed to d armed ver rival restore crowd guarded before a he of confidence in the buildT4 as gree the Mercantile Trust Company er !ng. the other trust companies excess the its withdrawals At were but little in of the normal. One effect city d- of withdrawals the was observed at the pay ment of taxes. nd S- hall in the great increase in the

11. November 7, 1903 The Grenada Sentinel Grenada, MS
Article from The Grenada Sentinel, November 7, 1903

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mayor Harrison of Chicago 18 an avowed candidate for the democratic nomination for president. President Roosevelt has issued the usual proclamation, designating Thursday, November 26, as Thanksgiving day. Ambassador Clayton informs the state department that the reported attack on President Diaz is officially denied. The Chicago grand jury is said to be preparing to disclose sensational developments in the inquiry into municipal affairs. The federal grand jury at Portland, Ore., has returned a number of indictments against persons accused of forgery in connection with homesteading government lands. Cardwell, Mo., twelve miles east of Paragould on the Paragould Southeastern railroad, was the scene of a sensational burglary. Three men entered the postoffice/building, dynamited the safe and took therefrom thirty dollars in money and four hundred dollars in stamps. The safe-blowers spiked the telegraph instrument in the depot, captured a handcar and made their escape into Arkansas. Mrs. Emma Booth-Tucker, consul in America of the Salvation Army, wife of Commander BoothTucker and daughter of Wm Booth* founder of the army, was killed a wreck on the Santa Fe at Dean Lake, Mo. The train ran into switch and a open struck large steel water tank with such force as to move it five feet from its foundation, and throw five cars from the track, completely wrecking them. The only cars escaping were the mail, express and day coaches, Three passengers were killed outright and over a dozen injured. The annual report of Surgeon General to of the exnavy Rixey says dissatisfaction the secretary has the isted for a long time among members of the medical corps in regard to the titles which are given them in different grades of the corps. He recommends "that congressional action be asked for authority to rename the different grades of the medical corps now existing, as follows: In place of surgeon general, surgeon admiral and in the other grades medical director to become surgeon captain; medical inspector, surgeon commander; surgeon, surgeon lieutenant commander; passed assistant surgeon, surgeon lieutenant, and assistant surgeon, surgeon lieutenant (junior grade). The declaration that the existing relations between Canada and Great Britain cannot continue much longer is made by the Halifax Chronicle, the leading newspaper supporter in the maritime provinces of the liberal party. In the course of an unusually outspoken editorial on the recent Alaskan bondary award it the Chronicle expresses what claims to be unanimous dissatisfaction of Canadians at the action of the British government in the matter. The paper says: "This Alaskan episode has made it clear that our existing relations to the empire cannot be continued much longer. We are even now at the parting of the ways. Our subordinate position has been so clearly and so humiliatingly revealed that it must speedily become utterly unendurable. The Mississippi Valley, Mercantile and Missouri Trust companies of Louis a run of heavy St. recently depositors. experienced to For with- two the crowds seeking were SQ draw days savings unable to large keep that order the police was and the banks were compelled to take advantage of the 60 day clause which are was appaying they deposits. entitled There to no before the cause for as parent alarm, solid. all institutions are said to be While the guest of the state