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FALSE RUMORS CAUSE RUN; IS MET WITH CASH Circulation of Rediculous Reports Are Promptly Met at Grand Valley Bank. MONEY FOR EVERY DEPOSITOR False rumors, industriously circulated by busy-bodies, either maliciously or thoughtlessly for the past few days caused a slight run on the Grand Valley National bank yesterday and today. The prompt,payment of every depositor who asked for his money, immediately relieved the situation, coupled with the fact that Cashier V. C. Talbert had safeguarded against a run by shipments of cash from Denver, so that every depositor could have been paid off without embarrassing the bank in any way. The withdrawals were confined entirely to the small depositors, the prominent men and corporations of the city who have big sums in the Grand Valley bank having every confidence in its safety. Altogether about $16,000 was drawn out yesterday, and almost as much was deposited during the day. Today very few withdrawals were made. as the depositors were completely reassured by the huge piles of gold. silver and bank notes which were in evidence on every hand. The officials of the bank have been making a rigid investigation of the source of the false rumors which started the withdrawals. and which apparently had been circulated freely from one end of the valley to the other. The nervous condition of the public, due in a large measure to the closing of the Mesa County National bank six weeks ago, was responsible in a large measure. as very little rumor is sufficient to start the people to worrying over their funds. One report has is that the original cause of the withdrawals was the payment of the checks of the Grand Junction Fruit Growers' association. which were distributed a few days ago. These were on the Grand Valley bank. and as the checks were for small amounts, there was a large crowd of people on hand having them cashed. This is believed to have started the report of the run. which as it gained circulation started withdrawals from the bank. One absurd report which was circulated at a meeting of a woman's lodge one night this week was to the effect that there had been a run on the bank, and it was compelled to close its doors at 2 o'clock in the afternoon. Naturally this frightened a good many people. who fearful that the bank wouldn't open, withdrew their deposits. The Grand Valley National is in better condition to meet a 'run' than, I believe. any other institution in the United States," said V. C. Talbert, the cashier, this morning. 'If need be we can pay off every depositor. and still have money left to make a loan to the last man that draws out his money. When it first became apparent that these false rumors might cause a run, we promptly fortified the bank by shipping in money from Denver, and while a run such as this causes a temporary annoyance, we are able to meet every demand that can possibly be made upon the Grand Valley bank.'
