Article Text
FALSE RUMOR STARTS RUN ON LOCAL BANK Due on the starting through false rumors Alester Trust Company and responding bank, the Bank of Alester, suspended business morning, and placed hands the banking depart with charge the biggest many and Company The closing followed board steady fairness decided Bank deposits thousand, that would The cotton had dropped had also been against But none of these things had cipitated crisis with the two above banks. They were in good Collections had been little but not anything or The closing here appears to have been due more the fact that several small banks in the county had failed recently, making the pubWhen Bank Krebs, failed to open its doors early this week, rumors spread that the IcAlester Trust Company was also affected, a rumor without foundation However, once in the wind, it was impossible to stop the report, and from and out of the county came flood of inquiry Wednesday, and the withdrawals started. The bank piled out great masses of cash ready to handle the but they kept right on all day Wednesday and through Thursday. It was at this point the board of directors considered action to protect the rest of the The Bank of McAlester was closed by the board of directors, after learning Thursday night the decision of the directors of the Trust The Company (Continued to Editorial Page)
