The sun., 1890-11-17
THE WORST B OVER,
So Say New York Bankers
All Agreeing.
MONEY SHOULD Be EASY TO-DAY.
The Banks Disposed to Continue Facil
iieS TO Borrowers


sessiss - Clesrins Heuss Csrsiasatss
Also WIN E.asls Thsn 70 Exss.A TAsas
loaas-Is Was Lenders Assiv. TAss
Furry. aaa There Has Nee. Ne ovss.
spseulstisa Here to Help 10 Alsao
New That Ls.aoa has Squared Ktssls
Tho first thought Of evsry business maa
upon learning OF the misfortune Of Barring
Brothers Co. WAS without doubt Of the
effect Of the event upon the President
Of tho bank with which he does bust.
ness. THE Sun has endsavorsd TO DO fos
the thousands Of patrons Of the banks a
this city what comparatively few Of them
could do for themselves. namely, present -
them the views Of the Prssidsnts Of the
leading banks 30 far a. they were obtain.
able yesterday As will be seen By . psrusal
Of the following interviews the eustodisns
Of the resources Of the business community
who are also the arbitsrs Of credit, arc unani-
nous in taking rsassurlnR and most hopeful
view Of the financial situation at this centre.
This is excellent. so far % It goes. The nsxt
they are already asking Il Of each othsr) IL:
"Will tho banks do their full duty In the
premises ?"
It rests with them to check Q liquidation
that has been LARGELY sympathetic. and hence
has passed beyond the limits Of reason. or 70
have an aggregate Of ninety-nve nail.
lion dollars In lawful money. II =
their legal reserve which the National
Banking Act unQuestlonsbly intended they
should hold for any emergency that mighe
arise. There is every reason why such pors
community may need to-day or to-mor.
row. until all apprehension has died
away, should be placed promptly q
the service OF tho customers Of the banks.
This is no time TO hoard resources but 70 usa
them. Ten millions OF tho bank reserve loaned
be infused into the channels OF trade ohsss.
fully and readily.
The resources Of the banks are ample Thsy
have four hundred millsns Of assets whicA
under tho resolution Of the ClsAxins
House. adopted on Tuesday. are availabls
l
each other. There should bs no hsstta.
tion on the part Of the strongest banks
in taking out any volume OF Clearing House
certificates that may bs required tosnabls u
to place its cash resources at ths service q
those Of Its customers whose credit u sound
and whose collateral IL reasonably good. No
bank will gain anything BY indulRins In false
pride in the matter Of taking out Clearing
House certificates. Through their use the
banks may stand shoulder t6shoulder. and
their formal association In the Clearing House
will become powerful reality a. is did "
1884 and on previous occasions.
The Government banks have made the com.
ity OF nations o living force In an emsrgsnSy
that was preclpitatsd there. not hero. and al
that 10 required here Is to SEQ to It that the
rehe effect of Saturdays disclosures, the
shock that comes from knowledge OF Ian avertsd
calamity does not demoralize our own a6aifA
In the judgment OF tho most successful and
conservative bankers and bank officials the
obligation to counteract that shock. 70
minimize Its effect. is upon those
who control tho ninety-hvs millions Of
Idle money In the vaults OF the bankAs
The bank OF ENGLAND and tho private bsnk-
ers OF London. whose names arc household
words, have loft nothing undone TO preserve
the integrity OF the commercial system Of the
world. and the cable brings tho news this
morning that the heart Of Great Brit.
ain has boon touched BY her misfortune
Of the largest commercial house In the
world. for voluntary contributions are
pouring into London for participation
in the guarantee syndicate This ooun.
try has been asked for nothing. nos
will 1t be. but Il Is expected to preserve 10
equilibium. and 1t cannot escape the eons
demnatlon Of all civilized nations With
ample resources In hand It proves unequal -
the occasion.
Tho public. working through the Stock Exs
change. has relieved foreign interests Of a
enormous amount OF securities ct fair prices.
To that extent this country has PER-
formed Q service which. by the way, may
prove profitable 10 1t, and incidentally broad
market for American securities has been o..
tabllshed In Wall street. ADVANTAGE 10 being
taken OF 1t by the Richest men. and
NO one need doubt that those moso
largely interested In railway securities will b
! very near tho Stock Exchange this mornins.
, looking for such bargains ~ were offered on
Saturday. They propose TO protect thsts
interests. but 1t 10 for tho banks to give cean-
dence to the entire country By the most hba
erA policy that their resources will permit
HAVE CROSSED THE BRIDGE
Mr. H. c. Fahuestock. Vice-President OF The
, First National Bank. said: Il think we have
crossed tho bridge In safety and shall bs vsry
much surprised II We have any more trouble
| Last week was . remarkable week Ia soms
ways. Notwithstanding the nervous state OF the
market there never before was such rush nom
. out-of-town men for bargains. There couldn't
! be a bsttor sign than that As soon - sbooka
tumbled tho banks here got kilograms from all
their out -of-town correspondents TO buy. Thu
. orders came from men looking for investments
Not ordinary spsculators. but men who wanted
f.. to buy outright and take their good(
. away with them. The impsndine calamity u
/. Europe WAS known and talked about without
the use OF names. People were prepared fol
it, but there was some danger. The heroic
: treatment It got on the other side Of the wstss
however put an end to all danger. I think
70 can safely say and strongly that the aotios