1641. Savings Bank (New Britain, CT)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
savings bank
Start Date
February 11, 1907
Location
New Britain, Connecticut (41.661, -72.780)

Metadata

Model
gpt-5-mini
Short Digest
c23b93f5

Response Measures

Partial suspension, Books examined

Description

Articles report a run beginning in mid-February 1907 after treasurer William F. Walker's defalcation. The bank stopped payments and invoked a 90-day notice (suspension) on Feb 13, 1907, then removed the 90-day rule and resumed on-demand payments in late April 1907.

Events (3)
1. February 11, 1907 Run
Cause
Bank Specific Adverse Info
Cause Details
Run triggered by discovery of large defalcation by treasurer William F. Walker; negotiable securities missing (initially reported $150,000 rising to $565,000).
Measures
Police summoned to keep order; bank paid out cash to calm depositors before later stopping payments and invoking the 90-day clause.
Newspaper Excerpt
The run on the bank, which started Monday, continued today. Over $100,000 withdrawn thus far.
Source
newspapers
2. February 13, 1907 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank stopped payments and invoked the 90-day notice rule owing to the run caused by the treasurer's alleged peculations and missing securities (shortage reported between $350,000 and $565,000).
Newspaper Excerpt
At 11:30 the bank stopped payment to depositors. ... to protect the interests of the bank it was necessary to invoke the ninety-day clause which closes the bank without notice for that period.
Source
newspapers
3. April 25, 1907 Reopening
Newspaper Excerpt
The directors ... voted to remove the ninety-day notice rule ... Bank Commissioners ... reported that the examination disclosed satisfactory results. The vote removing the rule was then taken.
Source
newspapers

Newspaper Articles (20)
1. February 13, 1907 The Daily Morning Journal and Courier New Haven, CT
Article from The Daily Morning Journal and Courier, February 13, 1907

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Negotiable Paper Missing From Savings Bank of New Britain With Walker, WORTH ABOUT $150,000 INVESTIGATION ON AND DEFALCATION MAY BE LARGER. Walker Also Treasurer of the Funds of the Connecticut State Baptist Association for Many Years, Having About $75,000 in Securities in His Charge-An Inquiry Ordered-Run on the Bank Continues-Over $100,000 Withdrawn Thus Far-Family Believes Missing Official Mentally Unbalaneed-Letter From Him. New Britain, Feb. 12.-Negotiable securities to a very large amount are understood to be missing from the vaults of the Savings bank of New Britain, of which institution the treas+ urer, William F. Walker, mysteriously dropped out of sight in New York on Sunday last During the day Philip Corbin, president of the bank, stated that the bank auditors had been unable to locate securities of a value of $150,000, but were unable to find any other irregularity in the accounts or cash of the bank. The situation, according to Mr. Corbin, suggested abstraction of the securities from the vaults. un It is understood that Mr. Corbin ref ceived a letter from the missing man in which the statement was made that a defalcation would be found, and upon this information an examination of the S bank's collateral was begun, which is t still in progress. Not an inkling of f Walker's whereabouts has been obtained, and the return of his son, who has been searching in New York, is believv ed to indicate the feeling of the family e that the missing treasurer is not in that h city. e Mr. Walker has been treasurer of the e funds of the Connecticut State Baptist e association for many years, having about $75,000 in securities in his charge, and while there is no reason to suspect d any irregularity in these accounts, the president of the association, Rev. H. M. k Thompson, has ordered an investigation. Mr. Walker was not under bonds. t h The preliminary examination of the r officers of the savings bank indicates S that the entire collateral assets of the o bank were intact on October 1 last, when the annual return was made to S the commissioner of savings banks. The alleged abstraction of securities has been since that date, although the t bank officers say that no accurate statement can be made until the exam1, 9 ination is completed, which will take e another day, at least. Meantime great t sums of cash have been received at the bank to be used in paying off alarmed depositors, the total withdrawals yesterday and to-day amounting to over $100,000. The bank received offers of , I money from many sources, which were declined, as ample cash was on hand to h meet all the demands. e d The run on the bank to-day was a e lively one, mostly by small depositors, the great number of them being foro a eigners. Police officers were necessary t to keep them in check, especially the Polanders, who were thoroughly scared e into the belief that they were to lose e their savings, despite the reassuring words of a parish priest of their own n nationality, The alleged wrongdoing of Mr. Walk+ er has created a tremendous sensation. He was held in the highest esteem, was

2. February 13, 1907 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, February 13, 1907

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SHORTAGE $500,000 Run on Savings Bank of New Britain, Conn., Continues-Treasurer's Peculations May Reach Half Million. New Britain, Feb. 13.-It was learned today that the shortage in the Savings Bank of New Britain, thru the alleged peculations of the missing treasurer, William F. Walker, may amount to $500,000. The known shortage is already thought to be $350,000. The run on the bank, which started Monday, continued today. The Savings bank has stopped payment to depositors, and invoked a ninety-day clause, which closes the bank without notice for that period of time.

3. February 13, 1907 The Roswell Daily Record Roswell, NM
Article from The Roswell Daily Record, February 13, 1907

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THE SHORTAGE OF SAVINGS BANK $350,000. New Britain, Conn., Feb. 13.-The shortage at the Savings Bank of New Britain through alleged speculation of the missing treasurer William F. Walker already reaches $350,000, according to the statement of the bank's auditors, and is still growing. The run which was begun Monday continued today. At 11:30 the bank stopped payment to depositors. Acting Treasurer Oldershaw stated that to protect the interests of the bank it was necessary to invoke the 90-day clause which closes payments without notice for that period. Church Funds Involved. Hartford, Conn., Feb. 13.-That William F. Walker, the missing treasurer of the Savings Bank of New Britain who is alleged to be responsible for $350,000 shortage at that institution, made big inroads into the $75,000 fund of the Connecticut Baptist Convention, of which he was treasurer, was positively made known today as the result of the special audit of accounts of the institution. President Thompson, of the Society today said that railroad bonds worth $7,000 in Walker's hands were missing. He was unable at present to state whether or not the larger part of the church fund in his hands had been lost.

4. February 13, 1907 East Oregonian : E.O Pendleton, OR
Article from East Oregonian : E.O, February 13, 1907

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Shortage May Reach $500,000. New Britain, Conn., Feb. 13. -It is learned today the shortage of the Savings bank of this city will be about $350,000, and it may reach $500,000. The run continued today, mostly by foreigners. A heavy detail of police is on hand to maintain order, and threats are also made against the directors.

5. February 13, 1907 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, February 13, 1907

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Extent of Stealings of New Britain Bank Officer Grows. TOOK CHURCH FUNDS Was Treasurer of the Baptists Payment Suspended Atter a Run. Hartford, Feb. 13.-That William F. Walker, the missing treasurer of the Savings Bank of New Britain, made big inroads into the $75,000 fund of the Connecticut Baptist convention, of which he was treasurer, was positively made known today as a result of a special audit of his accounts. President Thompson of the society said a large number of railroad bonds placed in Walker's hands are missing. Stops Payment. The savings bank has stopped payment to depositors and invoked the 90day clause, which closes the bank without notice for that period of time. Shortage Grows. New Britain, Feb. 13.-It is learned today the shortage of the savings bank of New Britain through the alleged speculation of the missing treasurer Walker, may amount to half a million dollars. The known shortage is already about three hundred and fifty thousand dollars. The run on the bank which started Monday continues today.

6. February 13, 1907 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, February 13, 1907

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SHORTAGE IS LARGE. Treasurer Walker of New Britain Bank Got at Least $350,000. New Britain, Conn., Feb. 13.-The shortage at the Savings bank of New Britain through alleged peculations of the missing treasurer, William F. Walker, already is $350,000 according to the statement of the bank's auditors, and it is still growing. The run which began Monday continued today.

7. February 14, 1907 The Daily Morning Journal and Courier New Haven, CT
Article from The Daily Morning Journal and Courier, February 14, 1907

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$565,000 SHORT. Amount Officially Announced by Directors of the Savings Bank of New Britain. SURPLUS OF $143,000 LEFT THIS OVER AND ABOVE SUM DUE DEPOSITORS Latter, Therefore, Not to Lose n CentBank Officials Believe the Greater Part of the Stolen Securities Will be Recovered-Mystery of Treasurer Walker's Disappearance and Disposal of Such a Large Amount of Securities Still Unfathomed-Securities of State Baptist Society Also Missing -Story of Woman in Case Not Believed by Close Associate. New Britain, Feb. 13.-More than half a million dollars worth of securities were taken from the vaults of the Savings Bank of New Britain by the missing treasurer, William F. Walker, according to a statement issued by the board of directors of the institution late this afternoon, following the examination of the collateral in the bank by State Bank Commissioners Kendall and Noble. There is left a surplus of about $143,000 over and above the amount due to depositors, the actual shortage being $565,000. The directors believe the greater part of the securities will be recovered. The mystery of Treasurer Walker's Misappearance and the disposal of the immense amount of railroad bonds was not cleared up during the day, although knowledge of the fact that former Corporation Counsel John P. Bartlett, a lawyer in New York city, who revisited his home here a fortnight ago, had called upon the bank directors committee, seemed to assure members of the family and the other directors that Walker will soon be found. There was no little excitement in and around the Savings bank building during the day, owing to the uneasiness of hundreds of depositors, who suidenly found that they could not get their deposits under ninety days, the bank, upon order of Attorney General Holcomb, having taken advantage of the by-law requiring notice of withdrawal. The examination of the bank shows that apparently Walker did not touch any of the ready cash, or the book accounts, and that the shortage is purely an abstraction of bonds. No one in New is ableto give a reason for his the bonds, as his his fellow in an family, Britain need of employes members outside in the of bank, mess knew and enterprise his of any partner speculative declared that ventures. they never busi- That he was interested in some sort of outside investments was made almost certain this afternoon by information obtained that Walker early last week had considerable telegraphic correspondence with parties in New York, and to learn the source of this the directors' committee went to New York If the is a of last ful night. the belief committee held that is success- part the securities will be recovered. The directors hold this belief, as is shown by the following statement: "The officers of the Savings Bank of New Britain, working with the bank commissioners, have to-day examined of the and find an apBritain, the assets Savings that there Bank is of After New parent shortage of $565,000. charging this amount off, there will be still about $143,000 of a surplus which makes the amount due the depositors safe. "It is believed by the officers of the bank is expect that of the it greater quite part reasonable the to securities making up the loss will be recovered." Mr. Walker had charge of other funds besides those of the Savings Bank of New Britain, but only in the case of fund is any irregularity suspected. As the monuthe moneys were pass ment treasurer deposited fund, of by Elihu book Burritt received in the bank, and the fun committee stands in the position of a depositor of almost $5,000. RAPTIST SECURITIES TAKEN

8. February 14, 1907 The Montgomery Advertiser Montgomery, AL
Article from The Montgomery Advertiser, February 14, 1907

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TREASURER WRECKS BANK Gets Away With Half Million. WALKER HAS DISAPPEARED Connecticut Baptist Church Badly Crippled by Defaulter. Savings Bank of New Britain Has to Close Doors on Account of Peculations of Trusted Officer. New Britain. Conn., Feb. 13.-More than half a million dollars worth of securities were taken from the vaults of the savings bank of New Britain by R. the missing treasurer, William Walker. according to a statement issue! by the Board of Directors of the institution this afternoon following the examination of the collateral in the bank by State Bank Examiners Kendali and Nobie. There is left a surplus of about $143,000 over and above the amount due to depositors. the actual shortage being $565,000. The directors believe the greater past of the securities will be recovered. As the Bank Commissioners were preparing a statement to give to the directors, Mayor George M. Landers sent a letter to Governor Woodruff asking that Commissioner Kendall be removed from office on the ground of of duty and general incompeHe out in Kendall began that neglect tency. when Mr. pointed this an exam- letter affairs of the Treasurer Walker, on a Thursday, nation of the and bank Commis- plea last of illness, left the bank sioner Kendall did not continue his work. but returned home to await Walker's convenience, knowing at the time that the latter did not return home that day. Did Not Take Cash. The examination of the bank apparently shows that Walker did not touch any of the ready cash or the book accounts and that the shortage is purely an abstraction of bends. No one in New Britain has been able to reason for his members of his his bonds, give as a bank need family, and of the his fellow employes in the partner in an outside business enterprise declare that they never knew of any speculative dealings on his part. That he was interested in some sort of an outside investment was made almost certain this evening by information obtained that Walker last week had conside. able telegraphic communication with parties in New York and to learn the source of this the directors'. committee went to New York last night. was the run today on the of New Savings no great Bank Britain, have from emwhich Walker is alleged to bezzled atmost half a million dollars, that the bank posted a notice saying it was necessary to stop payment and invoke the ninety-day clause. directors and officials of the a bulletin issued fore announced that bank, The noon, in the shortly amounted pecula- be Treasurer Walker this sum in missing. tions securities to $450,000. of being The negotiable statement is based on the report of the inbank's auditors who have been vestigating its affairs. Today State Bank Examiners Kendall and Noble started on investigation, but it is not believed that their examination will reveal a greater shortage than the amount above stated, the directors saying that the books and cash balance up to a cent Over one-half of the missing securities are in railroad bonds. So far today .10 word has been recelved of the committee of directors which went to New York last night to hunt for the treasurer, and, if possible, to locate some of the bank's securities.

9. February 14, 1907 Bryan Morning Eagle Bryan, TX
Article from Bryan Morning Eagle, February 14, 1907

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HALF MILLION DOLLARS. Shortage of Bank May Run Up to Those Figures. New Britain, Conn., Feb. 13.-It was ascertained Wednesday that the short. age at the Savings Bank of New Britain, through the alleged speculations of the missing treasurer, William F Walker, may amount to. $500,000. The run on the bank. which started oMnday. continued Wednesday, the corridors of the bank being filled with men and women when the doors were thrown open at 9 o'clock. The majority of those withdrawing their savings were foreigners. There was considerable disorder around the bank and an extra force of policemen was sent to check it. About $170,000 had been withdrawn up to noon Wednesday. At 11:30 o'clock Wednesday the Savings Bank of New Britain stopped payment of money to depositors. Acting Treasurer Oldershaw made the statement that to protect the interests of the bank It was necessary to stop payments and invoke the ninety days' clause which closes the bank without notice for that period of time.

10. February 14, 1907 Americus Times-Recorder Americus, GA
Article from Americus Times-Recorder, February 14, 1907

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New Britain, Conn., Feb. 13.-It was learned Wednesday that the shortage at the Savings bank of New Britain, through the alleged peculations of the missing treasurer, William F. Walker, may amount to half a million dollars. The run on the bank being filled with men and WOmen when the doors were thrown open at 9 o'clock. The majority of those withdrawing their savings are foreigners. There was considerable disorder. around the bank and an extra force of policement were called to check it. About $170,000 has alread been withdrawn. All 11:30 o'clock the savings bank of New Britain stopped the payment of money to depositors. Acting Treasurer Oldershaw made a statement that to protect the interests of the bank, it was necessary to stop payment and invoke the ninety-day clause, which closes the bank without notice for that period of time.

11. February 14, 1907 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, February 14, 1907

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WARRANT IS OUT Chief of Police Rawlings Gone to New York to Look Up the Missing Banker QUIET AT BANK TO-DAY New Britain, Feb 14.-Chief of Police William J. Rawlings left for New York to-day on an early train, with a warrant for the arrest of William F. Walker the missing treasurer of the Savings bank of New Britain, who is accused of being responsible for a shortage of $565 000 of the bank's securities. The warrant was drawn by Prosecuting Attorney Charles H. Mitchell and in it Walker is charged with appropriating two bonds, valued at $1,000 each. No formal application was made by the bank's representatives for the warrant on his own account. Things were quiet at the bank to-day, the exact reverse of the conditions existing during the first three days of the week during the run on the bank. It was stated again this morning that the amount of Walker's peculations would remain at $565,000 as far as the bank is concerned, this figure being the result of the completed examination of the bank's affairs.

12. February 14, 1907 The Richmond Palladium Richmond, IN
Article from The Richmond Palladium, February 14, 1907

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Growing. New Britain, Conn., Feb. 13.-The shortage at the Savings Bank of New Britain, through the alleged peculation of the missing treasurer, William F. Walker, may amount to $500,000. The known shortage already is about $270,000 according to the statement bar's auditors, and it is still The run on the bank which Monday, continued. The maof those withdrawing their savare foreigners. The bank stopI' payment of money to depositors and issued a statement saying that to protect interests of the bank it was necessary to stop payment and invoke the 90-day clause, which closes the bank three months without notice.

13. February 14, 1907 The Caucasian Shreveport, LA
Article from The Caucasian, February 14, 1907

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HALF MILLION DOLLARS. Shortage of Bank May Run Up to Those Figures. New Britain ,Conn., Feb. 14.-It was ascertained Wednesday that the short. age at the Savings Bank of New Britain, through the alleged speculations of the missing treasurer, William F. Walker, may amount to $500,000. The run on the bank, which started oMnday, continued Wednesday, the corridors of the bank being filled with men and women when the doors were thrown open at 9 o'clock. The majority of those withdrawing their savings were foreigners. There was considerable disorder around the bank and an extra force of policemen was sent to check it. About $170,000 had been withdrawn up to noon Wednesday. At 11:30 o'clock Wednesday the Savings Bank of New Britain stopped payment of money to depositors. Acting Treasurer Oldershaw made the statement that to protect the interests of the bank it was necessary to stop payments and invoke the ninety days' clause which closes the bank without notice for that period of time.

14. February 14, 1907 The Bemidji Daily Pioneer Bemidji, MN
Article from The Bemidji Daily Pioneer, February 14, 1907

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MAY REACH HALF MILLION SHORTAGE OF MISSING TREASURER OF SAVINGS BANK AT NEW BRITAIN, CONN. New Britain, Conn., Feb. 14.-It is learned that the shortage at the Savings bank of New Britain through the alleged peculations of the missing treasurer, William F. Walker, may amount to $500,000. The known shortage already is about $350,000, according to the statement of the bank's auditors, and it is still growing. So great had the run become on the Savings bank that the bank posted a notice during the morning saying it was necessary to stop payment and invoke the ninety-day clause. A director and officer of the bank, in an official bulletin issued shortly before noon, announced that the peculations of Treasurer Walker amounted to $450,000, this sum in negotiable securities being missing. State Bank Examiners Kendall and Noble have started an investigation, but it is not believed that their examination will reveal a greater shortage than the amount above stated, the directors saying that the books and cash balance up to a cent. Over onehalf of the missing securities is in railroad bonds.

15. February 15, 1907 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, February 15, 1907

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WARRANT IS ISSUED. Treasurer Walker's Defalcations Exceed $600,000. New Britain, Ct., Feb. 14.-A message received from New York late this afternoon by the directors of the Savings Bank of New Britain contained, it is understood. a clue to the whereabouts in New York of William F. Walker, the missing treasurer of the bank, but the nature of the clue could not be learned. No clue as to the lecation of the securities which Walker took from the bank has been found in spite of a very active search in New York and several other cities. The bank situation apparently rests on the apprehension of Walker. for the run of depositors has ended and the instituiton practically could resume business without delay. The board of directors of the bank nist early this evening to discuss the present phase of the situation. Nearly every member feels certain that a large portion of the missing securities will be secured intact. The belief is held that a greater portion of these securities has been hypothecated, as inquiry among the financial interests in New York City brought out the fact that Walker would have been unable to dispose of the securities except at a considerable sacrifice, owing to the state of the market, but as their quality was excellent, he would have been able to borrow money on them without much difficulty. The development of the day was that Prosecuting Attorney McChael, on his own initiative, drew up a warrant for the arrest of Walker on the charge of appropriating to his own use two bonds of $1000 each belonging to the bank, and sent Chief of Police Rawlings to New York to inform the police there of the fact that the missing treasurer was wanted on a criminal charge. With approximately $40,000 missing from the Baptist convention fund the defalcation of Walker appears to exceed $600,000. The only realty that he had was his modest home, which was assessed at $3500, and against this mite an attachment for $500,000 was levied today in favor of the bank.

16. February 15, 1907 Perth Amboy Evening News Perth Amboy, NJ
Article from Perth Amboy Evening News, February 15, 1907

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WARRANT FOR WALKER. Bank Directors Have Clew to Missing Treasurer, Who Stole $565,000. NEW BRITAIN, Conn., Feb. 15.Prosecuting Attorney Mitcheil on his own initiative has drawn up a warrant for the arrest of W. F. Walker on the charge of appropriating to his own use two bonds of $1,000 each belonging to the bank and sent Chief of Police Rawlings to New York to inform the police there of the fact that the missing treasurer was wanted on a criminal charge. A clew to the whereabouts in New York of the missing treasurer of the Savings Bank of New Britain has been received by the bank directors. No clew as to the location of the securities which Walker took from the bank has been found in spite of a very active search in New York and several other cities. The bank situation apparently rests on the apprehension of Walker, for the run of depositors has ended, and the institution practically could resume business without delay. With approximately $40,000 missing from the Baptist convention funds the defalcation of Walker appears to exceed $600,000. The only realty that he had was his modest home. which was assessed for $3,500. and against this mite an attachment for $500,000 was levied in favor of the bank.

17. February 16, 1907 The Bennington Evening Banner Bennington, VT
Article from The Bennington Evening Banner, February 16, 1907

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WARRANT FOR WALKER. Bank Directors Have Clew to Missing Treasurer, Who Stole $565,000. NEW BRITAIN, Conn., Feb. 15.Prosecuting Attorney Mitchell on his own initiative has drawn up a warrant for the arrest of W. F. Walker on the charge of appropriating to his own use two bonds of $1,000 each belonging to the bank and sent Chief of Police Raw. lings to New York to inform the police there of the fact that the missing treasurer was wanted on a criminal charge. A clew to the whereabouts in New York of the missing treasurer of the Savings Bank of New Britain has been received by the bank directors. No clew as to the location of the securities which Walker took from the bank has been found in spite of a very active search in New York and several other cities. The bank situation apparently rests on the apprehension of Walker, for the run of depositors has ended. and the Institution practically could resume business without delay. A current report that a portion of the missing securities had been found resolved itself into the fact that $45,000 worth of bonds were on deposit in a New York bank and were allowed for in striking the balance to determine the actual shortage, which remains unchanged at $565,000. The board of directors of the bank met to discuss the present phase of the situation. Nearly every member feels certain that a large portion of the missing securities will be secured intact. At the meeting a second statement was drawn up, which was signed by all the directors, repeating what was said In the first statement given out, that the bank is solvent and guaranteeing that it will pay all depositors in full. The statement warns depositors not to be induced to sell their passbooks at any discount. With approximately $40,000 missing from the Baptist convention funds the defalcation of Walker appears to exceed $600,000. The only realty that he had was his modest home, which was assessed for $3,500, and against this mite an attachment for $500,000 was levied In favor of the bank.

18. February 16, 1907 Chicago Eagle Chicago, IL
Article from Chicago Eagle, February 16, 1907

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Connecticut Bank Suspends Payment A run on the Savings Bank of New Britain, Conn., following the announcement that the fleeing treasurer took bonds worth $565,000, caused the institution to suspend payment of depositors.

19. April 25, 1907 The Daily Morning Journal and Courier New Haven, CT
Article from The Daily Morning Journal and Courier, April 25, 1907

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NINETI-DAY NOTICE REMOVED. Savings Bank of New Britain Ready to Pay on Demand. New Britain, April 24.-The directors of the Savings Bank of New Britain at a meeting to-day voted to remove the ninety-day notice rule under which payment on deposits was stopped in February when a run on the bank was started following the public knowledge of the defalcation of William F. Walker, the then treasurer of the bank. Bank Commissioners Noble and Kendall, who began an investigation of the bank's books and securities yesterday in anticipation of to-day's action by the directors, and this afternoon reported that the examination disclosed satisfac. tory results. The vote removing the rule was then taken.

20. April 25, 1907 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, April 25, 1907

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WITHDRAW 90-DAY NOTICE. Action Taken by New Britain Institution Before Time Expires. New Britain, April 25.-At a meeting of the board of directors of the Savings bank of New Britain yesterday afternoon after listening to the report of the bank commissioners, Charles H. Noble and George F. Kendall of their thorough examination of the books and assets of the bank, which showed the bank was in a sound and satisfactory condition and prepared to resume the normal conduct of its business, the following resolution was unanimously passed: Whersas, The directors of this bank February 13, 1907, on account of the excitement, and run upon the bank. occasioned by the defalcation an flight of William F. Walker, former treasurer, caused to be put in force the rule requiring 90 days' notice of intention to withdraw deposits, which rule with slight modification is still in force. And whereas, we believe the excitement and alarm has entirely subsided and there is now no danger of a continuance of the run, and abundant provision has been made to meet all demands upon the bank, Resolved, That April 29, 1907, the rule requiring 90 days' notice for withdrawal of deposits be discontinued, and on that day and thereafter all payments on account of deposits be made upon demand.