Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-10-20
MAY RESUME TOMORROW.
Statement of Union Trust Company of
Baltimore.

BALTIMORE Md. October 2o.-The
Union Trust Company officials announced
today that tney would resume business in
the immediate future. and very probably
tomorrow.
All the banks and other financial nsti-
tutions in Baltimore We're opened promptly
at the customary hour of 10 o'clock tins
morning. and those who may have had
any fears that the beginning of the none
tary day would be signalized by the an
nouncement of oIner trust companies 1oI-
loving in the wake of the Maryland and
Union companies that failed yesterday We're
agreeably disappointed
Not only did every institution open, but
among local fnanc.ers generally there was
a uniform expression of confidence that no
other suspensions are now probable. and
that whatever of panicky feeling was mani
tested yesterday has practically disappear
ed Late yesterday afternoon. and contin-
uing far into the night. there We're signfi-
cant reports that three more trust COM
panies whose names were freely discussed,
would apply for receivers this morning, but
these companies threw their doors open as
usual when the clocks struck 10, and their
officials declare that the apprehension
which had been felt in their behalf was I'M
founded and that they are in no manner
embarrassed.
1OAAC ~ ACboA0CoS - CAL.
1t is true however, that while the finan-
ciers themselves and the brokers and bank
ers around South and German streets main
tain air of serene confidence there is a
degree of uneasiness in the popular mind.
and it is expected that this feeling may
prompt more voluminous withdrawal Of
deposits during the day than usual. Eut
there is no reason for anticipating that
IT, r.f
the banks.
The stock exchange opened as usual this
morning without furry or exciting incident.
Yesterday the brokers came to the rescue
of the situation by deciding to carry out
buying orders only. so far as possible. and
to refuse selling orders. 1t is understood
that if necessary they will continue the
same conservative policy today.
Local tnanciers without exception take
optimistic view of the situation. and this
optimism is particularly strengthened by the
fact that local securities were not Invoked
in either of yesterdays suspensions.
Situation Continues to Improve.
At pm. the situation showed steadily
increasing confidence among fnanciers that
the worst has happened and that there Will
not be any additions to the list of failures.
on the stock exchange the sentiment dur
ing the whole day has been optimistic. and
in the closing hours there was evidently not
a member VINO entertained any dppfcHcit-
sion that there would be any further
trouble.
A factor in allaying apprehension was
the knowledge that many of the financial
institutions had strengthened their re-
sources during the night. A large amount
of currency from New York. Philadelphia
and Washington was sent to Baltimore
during the night and this morning.
How much was received is not definitely
known. but it Is estimated that between
100000 and 100000 is in the vaults of
banks and trust companies which was not
there Yesterday.
One of the reassuring incidents OF the
day is the announcement that the Union
Trust Company, one of the suspended COM
panies. will resume business in short
time The directors of that concern have
been in conference during the day to for
mulate plan by which the company's at
fairs may be adjusted and the receiver dis
charged as soon as that is practicable.
Receiver White stated this afternoon that
the resumption of business by the Union
Trust Company would be a matter of only
. few days.
Another incident that gave confidence was
an inquiry from the Treasury Department
at Washington asking If the national banks
needed assistance.