Accommodated withdrawals, Borrowed from banks or large institutions, Fed/other loan, Public signal of financial health
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SPRINGFIELD, MO., May 10.—A "run" on the Union National Bank, the largest banking institution in the entire Ozark region and the largest in Missouri outside of Kansas City and St. Louis, was started this afternoon.
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SPRINGFIELD, Mo., May 10.—A run on the Union National bank, the largest bank in Southwest Missouri, was started today. H. B. McDaniel, president of the bank, kept the doors open until 10 o'clock tonight to pay all depositors who care to withdraw.
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$400,000 SENT TO SPRINGFIELD BANK BY PLANE
State National and First National in St. Louis Dispatch Currency, Following Southwest Missouri Run.
FLYER GOES 239 MILES IN 2 HOURS, 8 MINUTES
Institution Opens Today for Business as Usual, With Few Withdrawals Being Offset by Deposits.
Bucking a strong head wind all the way, Lieut. Fred C. Nelson in a plane furnished by the Robertson Aircraft Corporation today carried $400,000 from St. Louis to the Union National Bank at Springfield, Mo., covering the 239 miles in two hours and eight minutes.
The money, $100,000 of which was furnished by the State National Bank and $300,000 by the First National Bank in St. Louis, was sent to the bank following a run on the institution Saturday when rumors were circulated that it was unstable.
The currency was loaded into an armored car and taken to the flying field at Forest Park, where Nelson took off. He was sworn in as a deputy game warden to give him the right to carry a weapon on the trip. Frank C. Hunt, assistant vice president of the First National Bank in St. Louis, accompanied Lieut. Nelson.
The plane took off at 8:50 a. m. and arrived in Springfield at 10:58 a. m. The fastest train makes the trip in seven hours, whereas Lieut. Nelson's average speed was 123 miles an hour.
In addition to the money sent by plane, the State National Bank sent $100,000 by registered mail and the Federal Reserve Bank of Kansas City sent $250,000 by express.
The run on the bank had stopped today, and the funds were not needed, being sent to show the confidence of other banks in the institution.
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Open for Business as Usual. SPRINGFIELD, MO., May 12.—(Special.)—The Union National Bank opened for business as usual today. The run, which began on the bank Saturday, had stopped. There continued to be a few withdrawals, but more than offset these. Many of the deposits were made by persons who withdrew their money Saturday. A new supply of money, brought in during the night, was not needed.
The run Saturday was the result of a rumor that all the bank's clients were withdrawing their deposits. It started shortly after noon and lasted until 10 p. m., when the doors were closed.
The police had to be called to handle the crowd. H. B. McDaniel, president of the bank, addressed the crowd, telling them their money was perfectly safe, but urging all who so desired to withdraw their money.
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AIRPLANE CARRIES CURRENCY TO CHECK RUN ON A BANK
ST. LOUIS, May 12.—An airplane carrying $400,000 in currency was winging its way to Springfield, Mo., this afternoon carrying financial aid to the Union National Bank of Springfield, which on Saturday was victim of an unexpected run that resulted in the withdrawal of more than $600,000.
The money is being forwarded by the State Bank and the First National Bank in St. Louis.
Reports from Springfield stated the run had died down today when the Union National Bank opened its doors for business as usual.
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RUSH MONEY TO STEM RUN ON BANK By United Press.
Springfield, Mo., May 12.—One million dollars rushed to Springfield from all sections of Missouri today stopped a run on the Union National bank here, one of the state's strongest financial institutions.
The run began Saturday, following reports the bank was unstable. Panic stricken depositors withdrew thousands of dollars.
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Another Slight Run Reported on Springfield Bank
[By the Associated Press.] Springfield, Mo., May 12.—Another slight run marked the opening this morning of the Union National Bank which withstood a heavy withdrawal of deposits Saturday. Shortly after the opening this morning a small crowd gathered with their deposits around the pay windows.
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Bank Run Over, Money Pours In By United Press Leased Wire SPRINGFIELD, Mo., May 13,All traces of the run on the Union National bank, disappeared today, after money to meet withdrawal demands had poured into town by armored car, special train and airplane. Huge bags of cash gathered in St. Louis, Kansas City and other towns were rushed into Springfield.
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RUN ON A BANK COMES TO AN END
SPRINGFIELD, Mo., May 12.—All traces of the run on the Union National Bank, disappeared today, after money to meet withdrawal demands had poured into town by armored car, special train and airplane.
Huge bags of cash gathered in St. Louis, Kansas City, and other towns were rushed into Springfield.
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SPRINGFIELD, Mo., May 13.—All traces of the run on the Union National bank disappeared today, after money to meet withdrawal demands had poured into town by armored car, special train and airplane.
Huge bags of cash gathered in St. Louis, Kansas City and other towns were rushed into Springfield.
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Traces of Run on Bank Disappear as Aid Comes
SPRINGFIELD, Mo., May 13.—All traces of the run on the Union National Bank disappeared today, after money to meet withdrawal demands had poured into town by armored car, special train and airplane.
Huge bags of cash gathered in St. Louis, Kansas City and other towns were rushed into Springfield.
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Traces of Run on Bank Disappear as Aid Comes
SPRINGFIELD, Mo., May 13.—All traces of the run on the Union National Bank disappeared today, after money to meet withdrawal demands had poured into town by armored car, special train and airplane.
Huge bags of cash gathered in St. Louis, Kansas City and other towns were rushed into Springfield.
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UNION NATIONAL BANK SENDS $100 TO POLICE
A check for $100 was received yesterday by Chief of Police A. C. Boehm from H. B. McDaniel, president of the Union National Bank, in recognition of the services of the police department during the recent "run" on the bank.
The money was deposited in the officers reserve fund, which is divided among the members of the force each Christmas.