Waterbury evening Democrat., 1907-10-24
FEELING GOOD
Financiers Say All Danger is Passed, But Depositors Are
 Still Clamoring For Money
LITTLE BANKS FAILING

| been at any time within the past 1 week. Under the rim confidence es- tablished by the result of last nights conferences and Secretary Cortelyou's encouraging statement, the stock mar ket opened strong with prices from 1 to points higher than last night. The Trust Company of America opened its doors for business at the usual hour. A short time before that Oakleigh Thorne, president of the institution, announced to the waiting depositors that the institution was entirely sol vent and was prepared to meet all claims. MT Thorne said he was con fident that the institution had seen the worst of its difficulties yesterday and that he apprehended no further trouble.
 The suspension of payment by three relatively small banking institutions, situated in the outlying Harlem dis trict of the city, were without shy ef- feet on the general financial situa. tion down town.
 In the first half hour of business at the Trust Company of America this morning, more money was de- posted than was withdrawn. The de- posits up to 10:30 mounted to $90O,. GOO.
 At 10:54, J. F. Morgan, in reply to a question as to the situation said
 Tt is all right
 | James Stillman. president of the National City bank, the largest bank in the United States, who was with MT Morgan, concurred, saying that the situation was satisfactory.
 Secretary Cortelyou at II o'clock said:
 Things look pretty good now. I have had word of the suspension of the two Harlem banks, but prefer to make no comment on it. I will re- main here some time longer-how long I cannot say. I would have had to be in New York tonight anyway. The rumor that we are short of small bills is unfounded, We have S10,OOO,- | 900 in small denominations. At 9:30 there were about 1.500 persons in line in front of the Trust Company of Americas main office in Wall street waiting for the opening of business.
 The directors of the Trust Company of America went into session at 9:S0 this morning. Those present were Oakleigh Thorne, w. K. Vanderbilt, Jr, John E. Bourne, w. A. Chese- brough, Marsden J. Perry wand George R. Sheldon.
 The directors had been in session but a few minutes when Mir Thorne president of the company, left the board long enough to say to the crowd waiting to withdraw money, that the Trust Company of America was pre- pared to meet all demands and was entirely solvent.
 The run on the Dollar Savings bank in the Bronx which began Tuesday continued to-day. Nearly 300 de- positors were lined up outside the building when daylight came. Many of them, majority of whom were women. had stood all night in the line. A large percentage of the Dol lar banks depositors are foreigners.
 New York. Oct 24.-All the over night developments in the financial situation are reassuring. The series of conferences last night. participated in by Secretary Cortelyou, ]. Pierpont Morgan, John A. Stewart. James Still man and other representative bank CTS and men of affairs. resulted in an agreement in the opinion that the banking situation is well in hand and that with the government deposits to be made by Secretary Cortelyou to-day there will not only be enough cash on hand, but even more than might be needed to meet safely any emergency.
 The conferences were held through all of last evening. beginning early and continuing up to o'clock in the morning. at which time Secretary CortelyOu gave out this statement:
 ''I have said to a number of gen. tlemen who called upon me to-day that any statement to the public regard ing existing conditions here should be made with the utmost frankness. So depositors and others interested in banks might realize that entire re- liance could be placed upon it. Those familiar with the facts have known that the situation was made serious largely because of the circulation of uufounded rumOrs and the unreaSon- ing anxiety of many who thought only for the moment. Tc pass safe ly through such a day as this. one of the most unnecessary excitement as it has been is the best evidence of strength and support on the part of those who have undertaken the diffi- cult task of re-establishing the diffi- fidence wherever there is weakness. and it has been in a comparatively few instances. Strong and able men are rendering aid and in behalf of the treasury department I may say that believe it is my duty to do so. and I shall do in the largest way pos sibIe whatever may be necpssary to afford relief If the press of the city will continne it's cooperation. and the public. on it's part. will reHert upon tlle real strength of our banking fn- stitutIons- there viii be a prompt re- turn ef the confidence vhfs4l their s,l-l- diti0n warrants As evidencp of the trezsury-s position I have directed dePos5fs in this city to the extent of szaOn0o-,
 Tbe run oa the Trust CoupzHr of America was continued this u-sofu7nz. As early as $ o1cSuck a little kra< aF