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THREATENED RUN ON BANK AVERTED "HELPING HAND" EXTENDED BY OTHER INSTITUTIONS. RESULT OF REFORM WAVE. Burlington Saloon Men Plan Step in Retaliation For Crusade Against Their Interests By the / Civic League, Burlington, Ia., Jan. 3-A hurried meeting upon the part of all the bank presidents of Burlington and the concerted action of all the banks, as a result, saved the town from what threat ened to be a financial panic the direct result of the recent reform in the old Orchard City, Ah It was, there was a goodly crowd in front of the German American Savings bank when that in stitution opened for business as usual this BOOD that spread morning, every but other word bank was in the city stood behind it, and the prest dents of the banks published in the local papers a signed agreement to protect each other. Thus the run was avoided, but there is still a feeling of ineasiness. Those who have carefully watched the statements, and noted the condition of the Burlington banks are confident that every bank in town is sound, but had the run come this morning without warning, It 1s doubtful If a panic could have been averted. here a At by the Rev. close "Billy" of the Sunday, services Civic held league was formed. One of the first acts of this league was to force Mayor J.B. Castor to close the saloons of the city on Sunday, For the last few days there has been a persistent rumor that an effort would be made to enforce the mulet law to the letter,and the retail liquor dealers have F. W.Grothe formed a protective league, with as president. Big Stick For Powsr. One of the prime movers of the new reform league is Judge 3.0 Power, a well known attorney of Burlington and brother-In-law of 3.1 editor of the that has been paper White, championing Hawk-Eye, and the the anti-saloon and cause reformers of the Mayor Castor. element Judge Power is also a director of the GermanAmerican, and, in conversation with discovered that the majority of the saloon men of Burlington did their business through this bank. A sug made that gestion was unless Mr. claim- Power ceased his efforts, as it was ed, the saloon in the liquor Burlington, to injure dealers business would transfer their accounts to some other bank, presumanty the Iowa State Savings bank. A member of the liquor dealers' as happened into the Germanin American sociation nad, conversation with the cashier, said: "In would be a good for people to thing you have dollars from two in to four hundred thousand cash here see fifts of the month, available and and between for the I be of the decided to do etation lieve most have. members of the business asso not whose their with working a bank against directors interests." are A meeting of the bank presidents was immediately called and when it was learned that the presidents were in the stories conference to many of bank of runs, ruins, etc., recurred the en, spent an and small many depositors, especially uneasy night, womfearing that, m the expected run,they would Jose their savings. arement of the ac tion the banks restored The of published all the conof of use small depositother banks stood ors. fidence The many behind those the threatened institution, and who did present their pass books were paid.
