DEPOSITORS AND DEPOSITS 
83 
for deposit in postal savings banks ; and most of 
these instances occurred in towns where confi 
dence in local banks was dealt a blow by the 
failure of one of their number. Four cases of 
this kind were described in a statement prepared 
by the Post Office Department and printed in 
the Congressional Record of December 15, 
1913. 22 The cities were Ironwood, Mich., Lowell, 
Mass., McKeesport, Pa., and Pittsburgh, Pa. 
It will be sufficient to quote from the description 
of the last case, which was typical. The First- 
Second National Bank of Pittsburgh, Pa., was 
closed on July 7, 1913. The postal savings re 
ceipts for the week beginning on the day of the 
failure were $19,624, a larger sum than had been 
deposited in an entire month. The postmaster, 
in commenting on the situation July 17, said: 
“Very many of the depositors wanted to leave 
large sums, ranging from $1,000 to $9,000. Some 
persons who came to the office when they learned 
that only $100 could he accepted did not open an 
account. While no record was kept of the amount 
offered and refused, there is no doubt but what 
the aggregate was in excess of $100,000.” 
Cases were also reported of two bank runs 
which led to a considerable offering of funds at 
the postal savings banks. One was in Youngs- 
22 Pages 926, 927.