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SEEK TO HALT RUNS ON CLOSED BANKS IN MASS. Individuals and Groups Unite for EmergencyCredit Corporation De= posits Millions in Cash Boston, Dec 18.-(UP)-Many agencies and individuals cooperated to-day to halt runs that were sapping the available cash of several banks described as entirely solvent. Emergency measures had to be adopted in the face of 19 bank closings in New England since October 1. A national bank and three trust companies which closed yesterday increased to $93,463,262 the total deposits tied up at the height of the Christmas shopping season. Outstanding among the stabilizing steps was the depositing of a total of $2,600,000 in the Exchange Trust company of Boston by the National Credit Corporation, a group of Boston banks, the state, and the city. This was calculated to curb a run in progress at that bank Several Massachusetts banks whose solvency was threatened by apparently groundless fears of depositors invoked the 90-day privilege, under which, for the specified period, withdrawals will be limited to $100. Announcements by some, banks that many new accounts were being started were expected to have a strengthening influence. President Wilmot R. Evans said the Boston Five Cent Savings Bank, scene of n run yesterday, would stay open and permit unlimited withdrawals, without invoking the 90-day rule. After the Plymouth County Trust company of Brockton closed, Edgar B. Davis, the Texas oil millionaire who became famous as the sponsor of the profitless Broadway play, "The Ladder," guaranteed depositors 100 cents on the dollar. He is connected with the bank.
