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BANKS DEMAND WEEKS' Clearing House Association Calls on All Depositories to Enforce Rule About Withdrawals. ATTEMPT TO CURB PRIVATE HOARDING Eight Financial Houses Close in Northern Illinois and One in Vandalia, Associated Oct. Philadelphia Clearing House ciation today adopted resolution calling on all banks to enforce the rule requiring two weeks' notice for the withdrawal of time and savings deposits. All the mutual banks in the city have concurred in action. Joseph Wayne president of the Clearing House, stated that closing of some small outlying institutions has resulted in an unreasoning fear among depositors which causing abnormal withdrawals of deposits largely for the purpose hoarding The action of the Clearing House follows of three small trust companies yesterday, and the closing of trust suburb. The Fidelity Co., today appointed Weniger one of the oldest private banking firms in the state. after three creditors filed involuntary tition of bankruptcy in Federal Court. The firm has about depositors. Ewing counsel for creditors, said no statement of liabilities and would not available until after audit of the books. The Richmond Trust bank this deposits of more than today and placed in the hands of the State Banking partment. Four Banks in Chicago Suburbs Close Doors. By the Associated Oct. banks three sections of nois closed their doors yesterday cash and reserves depleted in most cases by swollen withdrawals. In instances. announced closing was for protection depositors who bly would receive cents on the dollar. Two failures in La Salle County brought the total of banks shut since Tuesday in that region to six. The Utica State Bank suspended operations and left its without depository Later in the day the La Salle ings Bank Trust Co. also closed. Four Cook County banks, one National Bank. closed They the Calumet National Bank. with deposits last report the Hegewisch Brighton Park State and Marshall Square State Bank. all on outskirts Chicago. With total nine National 59 State banks Cook County have been closed this year. most of them in quick succession of failures last The seventh closing was that of the First National Bank Kewadirectors said pected all depositors would be paid in full. Yocum's Bank at Galva, $885,Resources, Closed. the Yocum Bank closed yesterday by its directors. Total in its last statement Capital was while the surplus Heavy of deposits given as the for closing. The only other bank the Galva First National, posted notice that days' notice would required fir withdrawal of time deposits. Earl Yocum, president of the closed bank. kidnaped year ago and held for several days but finally released unharmed. His abductors. who tricked into freeing him without receiving any ransom. later captured and sentenced to the penitentiary. Missouri Bank Had Deposits of $396,000. the Associated Press. Mo., Oct. Vandalia Trust Co. of Vandalia. of the oldest banking Mo., one stitutions in Missouri, failed notice the door open today. the affairs of the bank had stated to the State Fibeen turned over by order of the nance Department of directors. The banks' last board published Sept. 18, statement. showed $78,000 capital; Continued on Page Column
