e56587e0Accommodated withdrawals, Public signal of financial health
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Customers Deposit Withdrawn Money McALLEN, Sept. 30.-Customers of the First National Bank and State Bank and Trust Co. of this city who became alarmed and started what might have proved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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Customers Deposit Withdrawn Money McALLEN, Sept. 30.-Customers of the First National Bank and State Bank and Trust Co., of this city who became alarmed and started what might have proved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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$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.