Democratic Sentinel, Volume 18, Number 45, Rensselaer, Jasper County, 23 November 1894 — HE SPOPPED A PANIC. [ARTICLE]

HE SPOPPED A PANIC.

Millionaire Armour's Wonderful One-Day Keco-d in Chicago Philip D. Armour, of Chicago, is an Indefatigable worker. Here is a record of one nay's work during the panic time of the summer of I,'V'. Chicago suffered then a- the rest of the country did under the sc - ere stroke o: dip session. But Chita; - ha 1 something more th in her business reputation to maintain. There Was the exhibition, iso white feather should bo shown, f r the Wait > City's aka. Still, in that trying time, it wa courage live Armours that saved the exhibiti n from passing into the hands of a receiver. Chi ago stood together, and with triu civic zeal saved the thicat-nod mixfortune and enabled the World’s ! air to pa son to its triumphant conclusion. One morning Armour leaned at his o i re that in the distress of the hour a “run” had set in upon the Illinois Trust and Savings Bank. “This must be stopped, - ’ said he. The e were two leas ns for his zeal first, the maintenance of the general credit of the city, which would be shaken in the probable event of “runs' upon the 1 a ■ Us becoming contagious; Second, his e’de -t son was a director in ill - assaulted mstitutii n. Armour ij. ietly left his office and mixed with the throi g in front of the bank. He wont about among the doji sitors and pledged his own credit to induce them to leave their funds where they were. He remained in the crowded st eot al day and personally persuaded hund edsof the depositors to return to their horn -s. At the end of banking hours he arranged for a meeting of prominent Chicago men, to bo quietly held the next morning, to grapple with the disasters which threatened the c ty. he cabled to London and bought half a million dollars, in gold on his own account. Then he drove to tie Armour Institute, t > inspect the equipments then 1 eing put into place, and he serenely asked his usual question; “Is anything wanted?” On t x- way out he learne 1 that the little da ghters of an cm pi ye were dangerously ill with diphtheria. He .went for his accu toned drive and f r his almost daily < all at the hon es of his sons. Then he went home to pin nor, and by u o'clock he was sounlly sleeping, as if nothing had happened. The next morning he walked to his office, and on the way left, SSO for the stricken family of his etn; loyet he transacted his own business as calmly as ever; went to the bank again, turned a wav more depositors: and then loft for the .Vi sion Hall to play ivitn the little chi*drun there. Meanwhile, his action in the crowd, and his purchase of gold, had set an example f -r other men; confidence began to set in on e more the tide was turned.