e8da94d45fb77ceeAccommodated withdrawals, Borrowed from banks or large institutions, Public signal of financial health, Books examined
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Customers Deposit Withdrawn Money McALLEN, Sept. 30.-Customers of the First National Bank and State Bank and Trust Co. of this city who became alarmed and started what might have proved to be a run on the two institutions Tuesday afternoon were today flocking back into the banks and redepositing the money which they took out. Persistent rumors that the two McAllen banks had
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by closing of the City Central Bank in San Antonio were officially denied by the officials of both banks and by W. W. Dees, state bank examiner, wh) arrived in the Valley esday. Plenty Money Available As the depositors flocked back into the two banks this morning, they were greeted by officials of the McAllen institutions and by a committee of Valley bankers appointed at a meeting last night to assist the McAllen banks in all possible efforts to avert a run. John C. Jones, active vice-president of the American State Bank & Trust Co., of Edinburg, chairman of the committee, stated this morning that the sum of money made available by Valley banks outside of McAllen had not been needed, and that both banks were amply supplied with their own funds to a sufficient amount to take care of any demands which might be made upon them. "The situation in Hidalgo county banking circles is not affected in the least by closing of the City Central," Jones stated. "Least of all are the McAllen banks affected. In fact, one of the McAllen banks is in *the position of owing the City Central money rather than having money on deposit in the closed San Antonio bank." New Accounts Opened Numbered among the crowds which were making deposits this morning were several new customers making deposits in the banks for the first time, Jones stated. Acting with the Edinburg representatives of the banks of the Valley are H. L. Starr, cashier of the First State Bank of Mission and W. S. Keenan, cashier of the First National of Harlingen. After the first flurry of business was over this morning, .h Lanks were doing business as before, with no excitement and no more than the usual run of business customers at the windows. When the short lived excitement started Tuesday afternoon a signed statement was issued by the officers and directors of the First National telling all customers who so desired to "come and get" their money if they were at all nervous. "The whole thing is over," Jones stated at noon Wednesday. "and I believe residents of the Valley will realize now that their bankers are telling them the truth when they state that Valley banks are not affected by the San Antomo closing."
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Customers Deposit Withdrawn Money McALLEN, Sept. 30.-Customers of the First National Bank and State Bank and Trust Co., of this city who became alarmed and started what might have proved to be a run on the two institutions Tuesday afternoon were today flocking back into the banks and redepositing the money which they took out. Persistent rumors that the two McAllen banks had
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'COME AND VALLEY BANK SAYS False Alarm Run Is Averted by Sound State of Banks Valley Morning Star McALLEN, Sept. invitation for depositors "come get officials banking houses Tuesday averted what might have come serious Directors of the First National bank, scene the largest demonand the State Bank and Trust company made preparations to care for during the next few days, they Tuesday night. Their backed up by that Dees, state aminer who arrived in the city Tuesday Directors of the First National bank, where crowd about 150 gathered in the afternoon, persons issued the following statement: No Foundation "There absolutely the rumor that this bank affected by the closing of the Bank and Trust company San Antonio Monday the time the San Antonio closed its doors, not owe this bank and will not lose one cent because of its closing. bank in good condition and fully able pay every positor in full Yesterday and day paid every depositor asked his money. have ample Tutnds on hand to any more depositors who are nervous. you want your money, and Signed: Nix, Hughes, Paxton, Rockwell, directors. Uncalled For Dr. Osborn. president the State Bank and Trust company, stated few persons appeared his morning and made withdrawals. He stated the bank after the first two hours open and similar assurance the institution's ability and willingness pay depositors ing their money Dees, state banking advised Valley your money back the banks and forget about the rumors. He signed following statement: recent closing of the CityCentral Bank and Trust company San Antonio seems to have ated feeling uneasiness and discontent in minds the ple McAllen and community, some customers to rush the bank here and draw their funds condition was wholly the banks here take the situation."
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PILE OF CASH ON FLOOR PREVENTS RUN ON BANK Sept. of cash and the floor the First tional bank here today stopped runs on that institution State Bank and Trust Several hundred depositors who had come their money left the bank and went their way grinning. Officials of the bank had shipments money rushed here overnight from score other valley banks unique after many drawals Bankers said there more money McAllen than there had been in Hysteria resulting from the closing week the City Bank and Trust company San Antonio said have inspired withdrawals here.
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$100,000 ON FLOOR STOPS RUN ON BANK M'ALLEN, Tex., Sept. 30-(U.P)-A pile of $100,000 in cash and currency on the floor of the First National bank here today stopped incipient runs on that institution and the State Bank and Trust company. Several hundred depositors who had come to withdraw their mony left it in the bank and went their way grinning. Officials of the bank had shipments of money rushed here overnight from score of other valley banks to make the unique display, after many withdrawals yesterday. Bankers said there was more money in McAllen today than there had been in 20 years. Hysteria resulting from the closing this week of the $16,000,000 City Central Bank and Trust company of San Antonio was said to have inspired the withdrawals here.