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BANK CRISIS BELIEVED TO HAVE PASSED
"Runs" Fail to Heavy Develop-Ready for Any Emergency
Having satisfied every demand made upon them Monday, following the closing Saturday of two of Sloux City's largest banks, officers of the other national and state banks were confident that the worst of the storm had been weathered and that today would witness return to nearly normal banking conditions. Heavy "runs" that were expected to develop dwindled to remarkably small proportions at all except two banks Monday. and bankers expressed the opinion that the evident willingness and ability of the banks to pay had convinced depositors of the folly of withdrawing their funds. Cash Is Convincing Huge piles of currency plain sight proved to be convincing ar. sument for most persons who visited banks the Intention of closing accounts, and many of them departed with confidence restored. Some of the banks reported heavier deposits than withdrawals. All hanks, however, will open today with ample resources at their $300 acre command to meet any emergency that may arise, It was stated. In addition the more than $2,000,000 In cash that arrived in the city over the weekend, Hioux City banks Monday afternoon two large shipments of currency by airplane, and other shipments of cash are to arrive train this morning. If It becomes evident that the critleal stage has passed today it was considered likely that Bloux City need for such assistance arises. gent Leeds to Reorganize A meeting of depositors of the Leeds hank of Stoux City, which was to have been held Monday night. was postponed until tonight, at which It expected that arrangements will be made for reopening Institution, which suspended business Monday noon when "run" of considerable proportions developed. F. Harrington, Jr., president of the bank, said that an effort was being made have the depositors come to an agreement in regard to the withdrawal of funds. Mr. Harrington said that several Leeds business men had offered to deposit substantial amounts In case the bank reopened. Prior to opening for business Monday the bank had deposits totaling $135,000. Following meeting of the Hloux City Clearing House association Monday night, officials declined to issue any formal statement on the situation aside from general expression satisfaction with the altuation and appreciation of the sane manner with which most Sloux City depositors had met the crisis. Appreciate Co-Operation At the close of business Monday afternoon, however, some of the bankers voiced Informal expressions of appreciation for the co-operation they had received from their depos. itors and gave assurance that every precaution had been taken to meet any demands that might be made George Sinclair, president of the Woodbury County Savings bank, where long line of waiting persons was in evidence most of the day, said: think If is safe to say that the rush is over. morning were largely posits. The good realizes should by now that the banks sound president of the Toy National bank, said, ation is well in were (Continued on Page -Column
