Article Text
RUN ON PULLMAN SAVINGS BANK. Italian Who Was Told He Must Be Identified Before He Could Cash a Check Caused It. CHICAGO, Sept. 10.-An Italian, who failed to understand that he must first be identified before cashing a check, caused a run on the Pullman Loan and Savings Bank to-day. The check was for $20. The amount paid out to depositors after the run started reached $30,000. Three hundred thousand dollars was rushed to the car shop town by Chicago bankers less than an hour after the run started. On the directorate of the bank are such men as Robert T. Lincoln, president of the Pullman Palace Car Company; Col. Frank O. Lowden and John S. Runnells. The directors alone probably could secure a credit of $50,000,000 in an emergency. The total liabilities of the Pullman bank are less than $4,000,000. The savings deposits are less than $3,000,000 and the commercial deposits less than $1,000,000. But the run was nevertheless a serious proposition with a few hundred of the depositors who did not stop to consider the financial backing of the institution. Excitement ran high and several score of the foreign born patrons of the bank besieged the doors of the institutions in frenzy, clamoring for their money. The Italian, who the officials say, was the innocent cause of the trouble, was Anton Cacini. He entered the bank at about 2 o'clock and presented a check for $20. He was told that he would have to bring some of his friends to identify him before the check would be cashed. He expostulated with the teller and waved his hands vigorously, but it did no good. Finally convinced that he could not get his money he rushed from the bank and hurried to the homes of his friends. The word soon spread throughout the district that the bank was tottering, and in one instance at least the cry was raised that it was another case of Strensland and the Milwaukee Avenue Bank
