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Five Decide to Take Advantage of the Ninety Day Clause in Charters. OVER $100 WILL REQUIRE NOTICE Institutions Perfectly Sound, But it is Impossible to Get Money from New York. Bridgeport, Oct. 31.-The first excitement in this city as the result of a financial unheaval in New York and other places about the country occurred to-day when runs were started on the Mechanics' and Farmers' Savings bank and the City Savings bank, the run starting in the morning and continuing all day. Probably* all those who withdrew their deposits were foreigners who doubtless became frightened as a result of the unsettled condition of affairs in New York and whose alarm grew when it was announced to-day that the American Graphophone company would shut down two days of each week from now on, the shut down to take effect each week. Other large factories which employ a large element of foreign help, have announced their intention of closing certain days of the week, and it is thought that these announcements were the means of stirring up fear among that class of people who are not absolutely familiar with the real situation. It was stated at the two banks that while both institutions were heavily taxed as the result of the determination of their depositors to withdraw their savings, they experienced no great inconvenience. They accepted aid from outside banks, however, a great deal of money being paid over to the two savings banks. Bank officials representing the Bridgeport Savings bank, the City Savings bank, the People's Savings bank and the Mechanics' and Farmers' Savings bank, met this afternoon and voted, in view of the situation creation by the runs on two of the banks to-day, the City bank and the Mechanics' and Farmers', to take advantage of the clause in their charters allowing them to require ninety days' notice from any depositors wishing to draw more than $100 of his deposit from the bank. It is stated that while the institutions are perfectly solvent it is impossible to get currency from New York sufficient to meet the demands.
