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RUMOR OF SHORTAGE OF CASH IS CAUSES OF RUN ON TONKAWA BANK; CLOSES TO PROTECT ITS DEPOSITORS The affairs of the Bank of Comfailed open Wednesday, are now in hands Pennington and Taylor, bank examand of started thorough check into the and liabilities the bank which they preOTHER NATURE HAS dicted would last 10 days. MADE SURE THAT THE Faced with probable run on FRUIT OF THE PERthe bank, which started SIMMON WILL NOT the board of directors met BE EATEN UNTIL cial session at Wednesday THE SEEDS ARE RIPE and voluntarily decided turn the situation THE GREEN FRUIT state bank commissioner DRAWS PUCKERS order to protect their depositors. THE LIPS OF THE Emphatic that the PERSON EATING would be to pay off. given AND CHOKES THE collect its was THROAT AS WELL Wednesday by the bank officials. Reasons An report the meetposed on the bank door stated that depletion sight exchange and anticipated withdrawals from bank and the low price products which are the securities we deem visable Bank of Commerce and the bank commission the interest to This signed Fred French and German French, directors. The Bank of Commerce, organized 1906 and bought Gerand Fred French in 1910, had average about $800,000 deposit the of $50,000 and $10,000 reserve the bank said Wednesday $100,000 the had withdrawn first the year. Money due on farm which was due the bank this time the year, were slow in coming in, due late harvest and the price of corn wheat, said. Run on Cash rumor was faced shortage money gained strength here the first two days of the week and there were some withdrawals. This growing worse Tuesday afterwas noon main factors the decision according to the No diction could be made of the future the bank and probably made until the examination The closing the bank created more stir Tonkawa than anything that has happened in years. Many the depositors gathered the bank during the day to the matter and the chief topic throughout the was one the largest banks this section and several depositors, many whom faced financial crisis along with the bank. The other two Tonkawa banks, the First National and the American National, were open for busiaccording to bank no tendency on the part of their customers because of the closing the Bank of Commerce. They took however, were prepared for any emerThe general hope was that gency. the crisis at Bank of Commerce was only temporary and that adjustment made bank reopened within short time.
