New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1890-11-17
money market has taken an upward turn. which

/ am sure it will maintain"
Jay Gould had learned of nothing that would
depress the market to-day and reiterated his be-
lief that the crisis is over.
Jacob d. vermilye, president Of the Merchants
National Bank, said Il know of nothing that
should cause trouble tomorrow. The depressing
influences that were felt last week have been re-
moved. AS chairman of the Loan Committee OF
the Clearing House Association, am in position
to say that the New-York banks are sound
Edward ii. Perrins, president Of the Importers
and Traders National Bank, expressed the belief
that there is now no cause for apprehension Of
further trouble
1t was declared, on the authority of director
of the North River Bank, yesterday, that the
amount of deposits secured to the bank for a
period of ninety days, in response to the circular
issued on Friday. was about 100000. While
this is somewhat less than was supposed on Satur-
day night, little trouble is anticipated in securing
the rest, il only sufficient time be granted This,
Charles NJ Preston the Superintendent of the
State Banking Department. seems willing 10 40.
lie is more than anxious TO see the 1nstitution
recover its lost ground if for no other reason than
to demonstrate the security and sondlty of State
banking institutions. Mr.. Preston is jealous of
the fair fame of the department of which ne Is
the. head, and will without doubt afford every
facility for efforts in behalf of the North River
Bank Mr. Preston returned to his home in
Kingston, n. Y, to spend Sunday, but is expected
to return In time for the directors meeting TINS
morning. No trouble Is anticipated In getting ad-
ditonal capital il the plan of increasing the cap
ital stock to $4,000 Is adopted.
member of the Loan Committee of the
Clearing House Association Yesterday S expressed s
d Co to the North River Bank had had greater
effect in the suspension of the institution than
the bank officers or Bank Examiner Preston Iouiu
admit 1t is a noticeable fact that Mr. Preston
has heretofore declined to make public the exact
amount of Paige, Carey q Co.'S indebtedness. IL
has also been noted that ID. r. Paige. although a
director in the bank, has taken no active interest
in its management and is lending no assistance
in the present crisis.
morsel Of comfort was thrown out for the
depositors yesterday by the emphatic statemeht
of John ii. Starn that, whatever the fate OF the
bank, the depositOrs would not be allowed 10
suffer in the slightest Mr. Starlns connecuon
with the bank does not seem to have been SO
great as was supposed. The greater poruon oil
his banking business has been transacted WITH th
the Mercantile Bank. He kept about S6o,o0o
drawn ont during Mr.. Starins absence IN
Europe, for use in his steamship business. MT
Starin owns North River stock to the amount OF
$4,000.
A controlling interest in the North River Bank
is said to be owned by the Apgar estate. which is
represented by Edward l.. Hedden, eX-Coilector
of the Port of New-York, who was the sonlnaw n,ia
tion Mr. Hedden is also director OF the oahk
and his action in applying for the appontm,eint
of receiver is thereby mace the more notlceanie ;i
he withdrawn to-day, when it comes up for
argument in the Supreme Court. Chambers
Consequent upon the Wall Street excitement
of Saturday. many brokers and brokers clerks
remained at their offices all of Saturday night ana
Yesterday in large number or onces
clerks and brokers were at work at their books
and accounts. While no great anxiety seemed
to be felt regarding stock specuations to-day,
the downtown fnanciers were carefully putting
their houses in order to be fully prepared Tor
any emergency. a..
General Charles II. T. Coils has sent the
NolIowinq letter to The Tribune: .
A financial panic may be averted by adopting the
l. No loans should be called which are fairly
margined. 1T. ,...,,,. s.rorc rc4ben bis
loans To the extent of his ability on Monday at 10
q Clearing House certificates should be issued 70
IL TO impair credit and force extended banks 10 call
their loans thus aggravating the conditions II each
hank takes a quarter of million OF certlhcates the
interest account eves itself and there IS no invidols
criticism. These suggestions have che earnest APP
proya Of one of the ablet bankers In active business
CHARLES II. 7. COILS.