Lincoln Trust Company (St Louis, MO)

Episode Information

Episode UID
8864333091246
Episode Type
Run Only
Bank Type
trust
Bank ID
886433309 hash
Start Date
October 27, 1903
Location
St Louis, Missouri (38.627, -90.198)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d98dbb85e34587e8

Response Measures

None

Events (1)
1. October 27, 1903 Run
Cause
Rumor Or Misinformation
Cause Details
Disquieting rumor from Chicago that savings institutions (including Lincoln Trust Company) were unsound; later pronounced an absolute canard.
Measures
Waived 60-day notice initially to pay deposits promptly; later directors decided to enforce 30/60-day notification; shipments of currency and police maintained order.
Newspaper Excerpt
With a rush the corridors of the Lincoln Trust Company ... were filled with men and women, all eager to withdraw their money.
Source
newspapers

Newspaper Articles (12)
1. October 28, 1903 Evening Star Washington, DC
Article from Evening Star, October 28, 1903

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RUN ON ST. LOUIS BANKS. Started by a Groundless Rumor From Chicago. A dispatch from St. Louis, Mo., yesterday says: From shortly before 1 o'clock today until the closing hour-3 o'clock-runs were made on the savings departments of three banks of St. Louis, and at the same time more than the ordinary amount of withdrawals by depositors were noticeable in the other banking institutions. The run, so far as it can be traced, was started by a disquieting rumor from the outside that seemed to strike St. Louis shortly after noon, to the effect that the savings institutions here were unsound. With a rush the corridors of the Lincoln Trust Company, the Mercantile Trust Company and the Mississ ppi Valley Trust Company were filled with men and women, all eager td withdraw their money. The scene n any one bank was duplicated in the other two. A line of people with bank books in their hands and faces eagerly scanning the little barred windows of the bank tellers stretcred out into the street, and interm ngled were policemen and bank officials counseling calmness and giving assurances of solvency. It is stated that the rumor that started the run came from Ch.cago and was to the effect that two directors of the Mississippi Valley Trust Company had recently endeavored to negotiate a loan of $2,000,000 in that city and had been refused. Today this rumor was pronounced an absolute canard by the directors concerned.

2. October 28, 1903 The Daily Morning Journal and Courier New Haven, CT
Article from The Daily Morning Journal and Courier, October 28, 1903

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RUNS ON ST. LOUIS BANKS ANXIOUS DEPOSITORS THRONG THREE INSTITUTIONS. A Rumor That One Had Unsuccessfully Attempted to Negotiate in Loan of $2,000,000 in Chicago Causes the Trouble-Other Institutions AffectedAll Demands Met. St. Louis, Oct. 27.-From shortly before 3 runs were on hour, 1 o'clock o'clock, to-day until made the closing the savings departments of three banks of St. Louis, and at the same time more than the ordinary amount of withdrawals were ble in the other by savings depositors banking institutions. noticeaso far as it can be a rumor started The run, by disquieting traced, from Louis was the outside that seemed to strike St. shortly after noon, to the effect that the savings institutions here were unsound. With a rush the corridors of the Linthe Mercantile and the Trust coln Trust company company, Mississippi filled with Valley Trust company were men and all eager to women, withdraw the three their accounts. The scene in banks was the same. of with bank people exactly books in A their line the hands and faces eagerly windows of little barred the scanning bank tellers' stretched out into the street and intermingled, was police and bank officials counseling calmness and the latter giving assurances of solvency. "It is stated that the rumor that started the bank came from Chicago and was to the effect that two directors of the Mississippi Valley Trust company had recently endeavored to negotiate a loan of $2,000,000 in that city and had . been refused. To-day this rumor was pronounced an absolute canard by the directors concerned. As soon as the runs started all other business was laid aside and every facility was afforded for the prompt payof The clause which the bank the ment gives deposits. privilege of with- after holding payment until sixty days notification was waived and amounts were paid rapidly, regardless of their There was no of the institutions many size. at any disorder and manifested in who had amounts withdraw cases depositors departed hurried without to their money, after having conversed a few moments with the officials and been made confident that the bank would continue to do business. At the Missouri Trust company a of depositors had but the number demand payment crowd collected the soon in- to thinned out and before 3 o'clock cipient run had ceased. Presidents of the different national banks assembled the afternoon and a which they announced ment during in issued that state- the banks of St. Louis are all perfectly solvent and amply able to liquidate all demands. All the banks closed at 3 o'clock, the usual closing hour, and announcement made that they will open at the usual row was morning demands hour, to-mor- 10 o'clock, and will meet all made. The directors of the different trust companies at meetings to-night decided the thirty and sixty tday noclause to-morrow is to tification enforce and all this tenis believed will doubtless stop dency to a contnuation of runs. The following statement was given out to-night after a meeting of the representatives of the Associated banks: "The representatives of the Associated banks of St. Louis at a meeting held tonight to consider the local situation and the demands upon the trust companies of of the city, invited the presidents those organizations to confer with them for the purpose of taking such action It as the situation seemed to require. was ascertained in this conference that no trust company was in need of assistance of any character, but each felt assured of its ability to protect its obligations and maintain itself without calling on the banks for aid. "The action of the trust company, requiring the legal notice of withdrawal of savings deposits was approved. (Signed) "J. C. Van Blarcom, President St. Louis Clearing House Association."

3. October 28, 1903 The News & Observer Raleigh, NC
Article from The News & Observer, October 28, 1903

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RUN ON THREE BANKS St. Louis Institutions Stand Firm Against Pressure Started by Rumor. (By the Associated Press.) . St. Louis, Mo., Oct. 27.-From shortly before one o'clock today until the closing hour, three o'clock, runs ere made on the savings departments of three banks of St. Louis, and at the same time more than the ordinary amount of withdrawais by depositors was noticeable in the other banking institutions. The run, SO far as it can be traced, was started by a disquieting rumor from the outside that seemed to strike St. Louis shortly after noon, to the effect that the savings institutions here were unsound. With a rush the corridors of the Lincoln Trust Company, the Mercantile Trust Company and the Mississippi Valley Trust Company were filled with men and women all eager to withdraw their money. The scene in any one bank was duplicated in the other two. A line of people with bank books in their hands and faces eagerly scanning the little barred windows of the bank teller's stretched out into the street and intermingled were policemen and bank officials counselling calmness and giving assurances of solvency. It is stated that the rumor that started the run came from Chicago, and was to the effect that the directors of the Mis sissippi Valley Trust Company had recent ly endeavored to negotiate a loan ol $2,000,000 in that city and had been refused. Today this rumor was pronounced an absolute canard by the directors concerned. As soon as the runs started all other business was laid aside and every facility was afforded for the prompt payment of depositors. The clause which gives the

4. October 28, 1903 The Evening Statesman Walla Walla, WA
Article from The Evening Statesman, October 28, 1903

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SCARE AT ST. LOUIS STILL CONTINUES A Steady Run on the Banks TodayPlenty of Money for All Open Accounts. St. Louis, Oct. 28.-When the doors of the Mississippi Valley bank and the Mercantile Trust company opened this morning long lines of depositors were waiting to withdraw their money. The banks took advantage of the 30-day notice law to check the run. Small crowds were in front of other banking institutions. The run became so bad by noon that the police were unable to handle the crowds men and women were trampled upon and their clothing torn. The banks finally closed their doors permitting only a few to enter at a time. Wagons loaded with coin and heavily guarded appeared in measure to re tinue. store confidence, but a the runs conThe saving clause of a thirtydays notice is still being enforced, but open accounts are paid as fast as money can be counted out. A run is being made on the Lincoln Trust. bank, which is paying all except savings accounts, on which it demands legal notice of thirty days. When it became known that the banks had unlimited means enroute among at 1:30 the this afternoon the excitement Louis Union bank the the were St. depositors subsided. police At dispensed with and the jam at Mercantile melted away like water. A short time after all was qufet at the Lincoln and the Mississippi Valley banks. Washington, has assistance been Oct. sent 28.-Finnancial to the St. Louis banks by New New and of money is leans flood Chicago being institutions. York, rushed to Or- St. A The Louis. rency that has received comptroller no of information the curI would indicate nabank of the tional New 1 world's trouble fair in any city. York Oct. 28.-Ten million dollars was shipped from the sub-treasury DOOD to the St. Louis banks this after-

5. October 28, 1903 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, October 28, 1903

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BANKS WERE READY. Absurd Rumors Created a Temporary Flurry at St. Louis. St. Louis, Oct. 27.-From shortly before 1 o'clock today until the closing hour, 3 o'elock, runs were made in the savings departments of three banks of St. Louis, and at the same time more than the ordinary amount of withdrawals by savings depositors were noticeable in the other banking institutions. The run, so far as It can be traced, was started by a disuieting rumor from the outside that seemed to strike St. Louis shortly after noon, to the effect that savings institutions here were unsound and like a prairie fire, it spread in a flash through the streets and different mereantile house whose employes represent the majority of savings depositors. with a rush the corridors of the Lincoln Turst company. the Mercantile Trust company and the Mississippi Valley Trust company were filled wth men and women all eager to withdraw their money. The scene in any one bank was duplicated in other two. A line of people with bank books in their hands and faces eagerly scanning the litthe barred windows of the bank tellers stretched out into the street and intermingled were policemen and bank officials counseling calmness and giving assurances of solvency. It is stated that the rumor that started the run came from Chicago and was to the effect that two directors of the Mississipi Valiey company had recently endeavored to negotiate a loan of $2,000,000 in that city and had been refused. Today this rumor was pronounced as absolute canard by the directors concerned. As soon as the runs started all other business was laid aside and every facility was afforded for the prompt payment of deposits. The clause which gives the bank the proivilege of withholding payment until sixty days after notification was waived. and amoûnts were paid rapidly regardless of their size. At other trust companies depositors had collected to demand payment but before 1 o'clock the run had ceased. The residepts during the afternoon issued a statement that the banks of St. Louis are fully solvent and fully able to satisfy all demands. The banks closed at 3 o'clock, the usual closing hour and gave out word that they will open tomorrow morning at the usual hour at 10 o'clock and will meet all demands.

6. October 28, 1903 The Providence News Providence, RI
Article from The Providence News, October 28, 1903

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BANK DEPOSITORS IN PANIC Three St. Louis Trust Companies Besieged by Clamoring Crowds for Savings. St. Louis, Oct. 28.-From shortly before I o'clock yesterday until the closing hour, 3 o'clock, runs were made on the savings departments of three banks of St. Louis, and at the same time more than the ordinary amount of withdrawals by savings depositors were noticeable in the other banking institutions. The run, so far as it can be traced, was started by a disquieting rumor from the outside that seemed to strike St. Louis shortly after noon to the effect that the savings institutions here were unsound. With R. rush the corridors of the Lincoln Trust company. the Mercantile Trust company and the Mississippi Valley Trust company were filled with men and women, all eager to withdraw their money. It is stated that the rumor that started the runs came from Chicago and was to the effect that two directors of the Mississippi Valley Trust company had recently endeavored to negotiate a loan of $2,000,000 in that city and had been refused. Yesterday this rumor was pronounced an absolute canard by the directors concerned. As soon as the runs started all business was laid aside and every facility was afforded for the prompt payment of depositors. The clause which gives the bank the privilege of withholding payment until 60 days after notification was waived and amounts were paid rapidly, regardless of their size." There was no disorder manifested and in many cases depositors decided not to withdraw their accounts after conversing with the officials. Before 3 o'clock the Incipient run had ceased. Presidents of the different national banks assembled during the afternoon and issued a statement, in which they announced that the bank of St. Louis are all perfectly solvent and amply able to liquidate all demands. All the banks closel at 3 o'clock, the usual closing hour. and announcement was made that they would open today at the usual hour, 10 e'clock, and will meet all demands made.

7. October 29, 1903 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, October 29, 1903

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DEPOSITORS ARE AGAIN IN HURRY St, Louis Bank Officials, However, Say Trouble is Over MANY OFFERS OF ASSISTANCE Expression of Confidence and Such Offers on Part of National Banks Has Helped-Long Lines of Depositors. St Louis, October 28 The statement of President Julius S Walsh of the Mississippi Valley Trust company, whose sentiments are produced in interview given to the Associated Press by other trust company officials of St. Louis that "the situation is thoroughly in hand, "the excitement has subsided, and "from this on we expect business will be conducted in the usual orderly manner, expressed the opinion that seems general tonight, concerning the unwonted financial conditions which prevailed here during parts of yesterday and today. Officers of all the trust companies state that voluntary offers of help were received from financial institutions in New York. Philadelphia, Chicago New Orleans, Kansas City, Boston and many of the smaller towns of Missouri and Illinois, but all were declined for the reason that they had sufficient cash with which to handle their business Expression of confidence and offers of aid on the part of the national banks and financial institutions of St. Louis, has helped to strengthen the situation and restore confidence Lines of Depositors. Just before the hour of opening today the lines of depositors stretched away from the closed doors of the Mississippi Valley Trust company, the Lincoln Trust company, the Mercantile Trust company and the Missouri Trust company Small crowds were assembled before the doors of the other savings institutions It was observed most of that those line were in working people and many of them women whose savings heavy Owing to the action taken last night by the officials of the eight trust companies doing business St. Louis enLoreing thirty and sixty days' notice of Antention to funds, the depositors were not able to get any money All they could do to declare their intentions of their deposits at the end of the time taken advantage of by the companie. under their rules. pay The trust companies decided not to certificates of deposit before maturity Crowd Serges In. doors The greatest crush was before the at of the Mercantile Trust company Eighth and Locust streets. o'clock the doors were opened and the crowd surin with force that swept aside the lines of police and bank employe formed to preserve regular line to the windows of the paying tellers of the time The policemen were unable to handle the crowd and Festus Wade, president of the company, mounted chair and announced unless the depositors formed in line they would be ejected from the building He said was impossible wait in upon them if they insisted in crowding such This had the effect and some semblance of order was restored be the could As as persons the banking rooms had admisformed in two lines, and further sion refused until some of the first entrance; comers had left by separate then others admitted and forced they keep in line and leave soon as to had transacted their business. Many Women in the Crowd. the By 10 o'clock the crowd around an such trust company's building had increased to totally extent that the police were unable to control it. and ficers stationed at the doors the of. away from their were swept stations almost as constituted ly as they could resume them. Women rapidlarge percentage of the Many and crushed in the knocked off dresses were torn and hats jam. crowd The policemen in trying to handle pushed many of the instances personal gutter and in several them into the lights were narrowly averted. opened company When the were doors of the Mercantile Trust street east of the building just across the the while the street it was packed. street, both to the west, and Eighth comparatively clear north and south, were an hour Half later, crowded for however, both streets them keep were clear hundred feet, and all efforts distance to of several ractically wards police directing their efforts abandoned chiefly the doors. the maintaining some degree of order toE. John Davis during the Mississippi Valley second vice Trust president of the morning, made his company, addressed stone steps leading into the way to the follows: the throng assembled bank there and as Bank Official Speaks. of The you anxiety is expressed here by out entirely uncalled for, so many reason. Not one person and withmoney through this trust will lose any shall conduct our business company, and our paid ular to condition "There manner. whatever is whatever. no should change We have in have to in financial our always regin the are going are just soon 'All everyone, open future accounts and will be to be do so paid as will Every other reguday will will paid no they delay. just paid presented which here. paid it falls account due There due. to. is for reason any lar turn. There today in your Your and money invested worry. at it want you in the conyour tract. of no that official positively the Valley Mississippi not do We been need to money. Chicago for money. Trust company We has financially with and everything are splendid shape us I think the is prosperous Lapanxiety preciate every trust your company in same St. Louis. true of that of gentleman this company and officer and assure stockholder you through groundless. :his company.- and you will your lose fears no money Henry M. Meir's of the Henry M. Meir, vice Statement. president

8. October 29, 1903 Daily New Dominion Morgantown, WV
Article from Daily New Dominion, October 29, 1903

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St. Louis-Trust Companies Decline*Offers of Assistance from Other Cities. FINANCIAL FLURRY ABOUT OVER Demands of Depositors Promptly Met. One Institution Closes With Million More Cash Than When Run Began. Others Report Ample Funds. St. Louis, Oct. 29.-The statement of President Julius S. Walsh, of the Mississippi Valley Trust company, whose sentiments are echoed by other trust company officials of St. Louis, that "the situation is thoroughly in hand, the excitement has subsided and from this on we expect business will be conducted in the usual orderly manner," expresses the opinion that seems general, after the unwonted financial conditions which prevailed here. Offiçers of all the trust companies state that voluntary offers of help were received from financial institutions in New York, Philadelphia, Chicago, New Orleans, Kansas City, Boston and many of the smaller towns of Missouri and Illinois, but all were declined for the reason that they had sufficient cash with which to handle their business. Expressions of confidence and offers of aid on the part of national banks, financial and other institutions of St. Louis have helped to strengthen the situation and restore confidence. No Reason for Further Concern. "The flurry is over," said A. A. B. Woerheide, president of the Lincoln Trust company. "Long before our regular closing hour arrived all those who desired their money had received It and departed. There is no reason for further concern." President Julius S. Walsh, of the Mississippi Valley Trust company, said: "There is absolutely nothing in the past or present condition of our company to justify the slightest apprehension. All demands of every kind were met, and we had more cash on hand when we closed than when we opened Tuesday morning." Festus J. Wade, president of the Mercantile Trust company, said: "The Mercantile Trust company received voluntary offers from financial institu tions of New York, Philadelphia, Chicago, New Orleans, Kansas City, St. Joseph and San Francisco, sufficient to pay off every dollar of its deposits at once. All offers, while highly appreciated, were respectfully declined, as we closed the day with over a million dollars more cash than we had when the silly run began." Outside Ald Refused. John W. Harrison, first vice president of the Missouri Trust company, said: "Other financial institutions have placed at our disposal any amount of cash funds that we might ask for in this contingency. We are pleased to say, however, that we have not been obliged to ask any financial aid whatever and have over $400,000 of cash in our vaults and ample funds at our command to meet all our liabilities of every description." G. A. Buder, counsel for the American Central Trust company, said: "Our company is practically unaffected by the flurry. I believe the situation IS clearer and that the worst is over." Lawrence B. Pierce, first vice president of the Commonwealth Trust company, stated that their deposits had been many times the amount of the withdrawals. Henry Koehler, Jr., president of the Germania Trust company, said that nothing of any consequence was drawn out of his institution, and that offers of aid received from other financial centers were thankfully declined as unnecessary. Thomas H. West, president of the St. Louis Union Trust company, stated that the so-called run was past and had done no damage except to depositors who had withdrawn their money. "Only a few of our smallest depositors withdrew their savings and they will be back again said Mr. West

9. October 29, 1903 Durango Semi-Weekly Herald Durango, CO
Article from Durango Semi-Weekly Herald, October 29, 1903

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FOOLISH ST. LOUIS DEPOSITORS ST. LOUIS, Oct. 28.-The Mississippi Valley and Mercantile Trust companies today demanded of depositors a thirty to sixty-day notification of intention to withdraw deposits. Long lines of depositorrs are awaiting the opening of the doors of the two institutions. Some small crowds are also assembled in front of other banking institutions in the city. Fifteen policemen kept order in the crowd around the Mercantile Trust company's offices. A number of men prominent in financial circles advised the crowd to be calm and declared the money of the depositors was safe. The runs started, it is charged, through rumors set afloat for revenge by eastern brokers whose appeals for loahs had been refused. Despite the fact that several boxes filled with currency and guarded by armed men was unloaded at the Mercantile Trust company's offices, the crowd was 80 dense at noon that the police were helpless and many women and children were crushed in the immense throng that surrounded the offices. The Mississippi and Lincoln companies locked their doors later and admitted only a few at a time.

10. October 29, 1903 Perth Amboy Evening News Perth Amboy, NJ
Article from Perth Amboy Evening News, October 29, 1903

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ST. LOUIS RECOVERS Semipanic Has Subsided and Confidence Is Restored. BANK OFFICIALS NOW REST EASY The Situation Is Now Thoroughly In Hand, and Voluntary Offers of Help Come From Banks In Six Large Cities. ST. LOUIS, Oct. 29.-The statement of President Julius S. Walsh of the Mississippi Valley Trust company. whose sentiments are echoed by other trust company officials of St. Louis. that "the situation is thoroughly in hand, the excitement has subsided, and from this on we expect business will be conducted in the usual orderly manner," expresses the opinion that seems general after the unwonted financial conditions that prevailed here. Officers of all the trust companies state that voluntary offers of help were received from financial institutions in New York, Philadelphia, Chicago, New Or leans, Kansas City, Boston and many of the smaller towns of Missouri and Illinois, but all were declined for the reason that they had sufficient cash with which to handle their business. Expressions of confidence and offers of aid on the part of the national banks. financial and other institutions of St Louis have helped to strengthen the sit untion and restore confidence. "The flurry is over," said A. A. B. Woerheide, president of the Linco'u Trust company. "Long before our ular closing hour arrived all those nc desired their money had received It and departed. There is no reason for fur ther concern." President Julius S. Walsh of the Mis sissippi Valley Trust company said: "There is absolutely nothing in the pasi or present condition of our company to justify the slightest apprehension. Al demands of every kind have been met.' Festus J. Wade, president of the Mer cantile Trust company, said: "The Mer cantile Trust company received volun tary offers from financial institution of New York, Philadelphia, Chicago New Orleans, Kansas City, St. Josepl and San Francisco sufficient to pay of: every dollar of its deposits at oncé. Al offers. while highly appreciated, were respectfully declined, as we closed the day with over $1,000,000 more casl than we had when the silly run be gan."

11. November 3, 1903 Wausau Pilot Wausau, WI
Article from Wausau Pilot, November 3, 1903

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RUN ON ST. LOUIS BANKS. Demands Are Promptly Met by Institutions Affected. From shortly before 1 o'clock Tuesday afternoon until the closing hour, 3 o'clock, runs were made in the savings departments of three banks of St. Louis and at the same time more than the ordinary amount of withdrawals by savings depositors were noticeable in the other banking institutions. The run, so far as it can be traced, was started by a disquieting rumor from the outside that seemed to strike St. Louis shortly after noon to the effect that the savings institutions there were unsound, and like a prairie fire it spread in a flash through the streets and different mercantile establishments whose employes represent the majority of the savings depositors: With a rush the corridors of the Lincoln Trust Company. the Mercantile Trust Company and the Mississippi Valley Trust Company were filled with men and women, all eager to withdraw their money. The scene in any one bank was duplicated in the other two. A line of people with bank books in their hands and faces eagerly seanning the little barred windows of the bank tellers stretched out into the street and intermingled were policemen and bank officials counseling calmness and giving assur ances of solvency. St. Louis bankers and trust company officials with one voice lay the blame for the runs on Chicago stock brokers, whom they accuse of deliberately circulating malicious and utterly unfounded rumors concerning St. Louis financial institutions for the purpose of depressing and "bearing" the stock market. As soon as the runs started all other business was laid aside and every facility was afforded for the prompt payment of deposits. The clause which gives the bank the privilege of withholding payment until sixty days after notification was waived and amounts were paid rapidly, regardless of their size. There was no disorder manifested at any of the institutions, and in many cases depositors who had hurried to withdraw their money departed without it after having conversed a few minutes with the officials. The directors of the different trust companies at meetings Tuesday night decided to enforce the thirty and sixty-day notification clause in an effort to stop all tendency to a continuation of runs.

12. November 4, 1903 Vernon County Censor Viroqua, WI
Article from Vernon County Censor, November 4, 1903

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RUN ON ST. LOUIS BANKS. Demands Are Promptly Met by In stitutions Affected. From shortly before 1 o'clock Tuesday afternoon until the closing hour, 3 o'clock, runs were made in the savings departments of three banks of St. Louis and at the same time more than the ordinary amount of withdrawals by savings depositors were noticeable in the other banking institutions. The run. so far as it can be traced. was started by a disquieting rumor from the outside that seemed to strike St. Louis shortly after noon to the effect that the savings institutions there were unsound, and like a prairie fire it spread in a flash through the streets and different mercantile establishments whose employes represent the majority of the savings depositors. With a rush the corridors of the Lincoln Trust Company, the Mercantile Trust Company and the Mississippi Valley Trust Company were filled with men and women, all eager to withdraw their money. The scene in any one bank was duplicated in the other two. A line of people with bank books in their hands and faces eagerly scanning the little barred windows of the bank tellers stretched out into the street and intermingled were policemen and bank officials counseling calmness and giving assurances of solvency. St. Louis bankers and trust company officials with one voice lay the blame for the runs on Chicago stock brokers, whom they accuse of deliberately circulating malicious and utterly unfounded rumors concerning St. Louis financial institutions for the purpose of depressing and "bearing" the stock market. As soon as the runs started all other business was laid aside and every facility was afforded for the prompt payment of deposits. The clause which gives the bank the privilege of withholding payment until sixty days after notification was waived and amounts were paid rapidly, regardless of their size. There was no disorder manifested at any of the institutions, and in many cases depositors who had hurried to withdraw their money departed W thout it after having conversed a few minutes with the officials. The directors of the different trust companies at meetings Tuesday night decided to enforce the thirty and sixty -day notification clause in an effort to stop all tendency to a continuation of runs.