Article Text
IN THE OIL REGIONS. One Bank Collapses and Two Withstand a Vigorous Run. BRADFORD, Pa., May 15.-The suspension of the Tuna Valley Bank to-day caused a run on the First National and Bradford National Banks. At the Bradford National the paying teller's window was hardly visible from the street. Two men paid checks as fast as presented. The people formed in line and acted orderly. It is estimated that $75,000 was withdrawn before National the rush ceased. The First paid out a large amount at noon. Sixty-two thousand dollars in currency was received from Philadelphia. Sight stocks, greenbacks and bags of gold and silver on the counters of the banks reassuréd the people in a measure. and at 1 o'clock this afterdoon the rush was practically over. The officers of the Tuna Valley Bank say there are no preferences, and depositors will be paid in full. The officers of the bank are C. S. Whitney, president, and S. A. Wheeler vice-president. J. P. Thompson has been ap, pointed assignee. The Tuna Valley was the Bradford correspondent of the Metropolitan Bank, of New York, which suspended yesterday. The officers of the bank decided. after consultation, that the best interests of the customers would be subserved by suspension. It has been ascertained that $60,000 of Bradford's special funds for the erection of the new water works were deposited in the collapsed Tuna Valley Bank. There was no failures in either of the Bradford exchanges to day, with the exception of Hilton & Waugh. Their difference here was $20,310. Eleven thousand barrels of cash oil were sold under the rule to their account.
