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RUSH TO DRAW 001 DEPOSITS CEASED. Continued From Page One. a great extent made up the number who wanted to draw their money. Not one business man presented himself at the d withdrawal windows nor was any large account asked for. the average being even smaller than was stated in The Republic yesterday morning The worst feature of the withdrawal was stated to be the loss to scared depositors of a month's interest on deposits which many returned to the institutions from which they had taken them after holding them a day Those who gave notice of intended withdrawal will also lose their December interest. NO REPETITION OF SCARE PROBABLE. Officials of the trust companies were unanimous in the opinion that Tuesday's blind and unreasoning fear has been entirely dissipated. The strength of St. Louis trust companies has been demonstrated to the banking world. which has been shown. as one man put it. that "they are not only financially above question but that they can stand a run. The people will not easfly be led away again by unfounded and malicious rumors. he said, "but will know that their money is in perfectly safe keeping. A meeting of the Mississippi Valley Trust Company's directors was held yesterday afternoon for the purpose, It was said, of running to earth. if possible, those who had started the rumor that led to so much disquiet on the part of the small depositors. President David R. Francis was present at this meeting. and he stated to The Republic that nothing had been done along the lines indicated. No business of any importance was transacted. except a statement being made to the directors by Breckenridge Jones, vice president of the company. that the deposits were more than three times the amount of the withdrawals during the day. Lawrence B. Pierce vice president of the Commonwealth Trust Company, said that deposits were many times the amount of withdrawals. Thomas W. Crouch. also a vice president of the Commonwealth, announced that the company had received offers of aid from outside banks that amounted to more than $15,000,000. but that all offers of aid were declined with thanks. "This goes to show. said Mr. Crouch, "the estimation in which St. Louis financlal institutions are held by outside banks. Not only the large banking-houses in New York, Chicago and Boston offered aid, but right here at home every bank in the State. I am told. asked if it could be of any assistance to some one or other of the trust companies. The following statement was issued by the Commonwealth Trust Company after a meeting of the Board of Directors Tuesday afternoon: To the Depositors of the Commonwealth Trust Company The assets of the Commonwealth Trust Company exceed its liabilities to its depositors by $5,749,552.03 Being fully acquainted with the condition of the company and its assets, and knowing that It is absolutely safe beyond all question, we, the undersigned directors, do hereby personally guarantee the payment in full of all current and saving deposit accounts now on the books of our company. Tom Randolph Sam M. Kennard, Otto F. Stifel. A. D. Brown, H. M. Coudrey. C. G. Know. Samuel C. Davis, L. B. Tebbetts. Albert N. Edwards. Lawrence B. Pierce. Edward L Preetorius, J. L. Randolph, George O. Carpenter. Thomas W. Crouch, M. B. Wallace, J. M Woods, S. S. DeLano. MERCANTILE TRUST COMPANY STATEMENT The following signed statement was is. sued by Festus J. Wade, president of the Mercantile Trust Company. late yesterday afternoon: Oct. 28. 1903. The run on the savings department of the trust companies in St. Louis yesterday was a "tempest in a teapot. It was oc. casioned by stock jobbers circulating rumors regarding St. Louis institutions, for the purpose of "bearing" the New York stock market to cover a very large bear interest short on Chicago and New York stock, The Mercantile Trust Company paid out (Tuesday) on its savings account $22,000. while In its commercial banking department de posits increased $127,000. The exercise of the thirty and sixty day rule in the savings departments by all the trust companies in St. Louis last night was done simply to keep currency and coin out of stockings and safe deposit boxes until the people having savings accounts could come to their senses The Mercantile Trust Company received voluntary offers from financial institutions of New York. Philadelphia. Chicago. New Orleans, Kansas City, St Joseph and San Francisco sufficient to pay off every dollar of its deposits 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 The Mercantile Trust Company's strength lies in its having $3,000,000 capital. $6,500,000 surplus and $325 000 undivided profite, with only $12,500,000 deposits Every one of the twenty-one directors of the Mercantile Trust Company who was in St. Louis yesterday when the run began signed an agreeit ment pledging their personal fortunes to pay its depositors in full r At the close of our books to-night our deposits show a net Increase of over $300,000. MERCANTILE TRUST COMPANY, By Festus J. Wade, President. Thomas H. West. president of the St. Louis Union Trust Company, declared that C the so-called "run" was over, and had done no damage except to the depositors o who had withdrawn their money and will lose the interest it had earned. NO BUSINESS MEN ta WITHDRAW ACCOUNTS. to "New York and Boston," he sald. "ofm fered aid in large sums, more than we di cared to accept. Only a few of our smalle est depositors withdrew their savings, and most of them will be back again. I know = of no business man who withdrew, and p our deposits are largely in excess of withdrawals during Tuesday and to-day.' At the Missouri Trust Company Joseph be L. Hanley, secretary of the company, said: et "The deposits in this company have & greatly exceeded the withdrawals, and a only a few of the smaller depositors called for their funds. Out of 8,000 whose names a are on our books less than 200 withdrew. $ We were offered outside help, which we to declined. as we have all the money of our own that we can use. Our cash on hand ea was much above the amount required by law, and it has never yet sunk anywhere de near that mark.' $ The following statement was made by A. Si A. B. Woerhelde. president of the Linci coln Trust Company: ca "All those who desired to withdraw got se their money before our regular closing co hour. There was no reason for the run except some groundless and vague rumors th sent out from Chicago stock brokers. The
