Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1907-11-12
RUSH $32,250,O0O IN
COLD FROM EUROPE
NEW YORK BANKERS TAKE ALL
THE YELLOW METAL ON LON
DON MARKET.
HEROIC EFFORTS TO
RELIEVE STRINGENCY
Runs on Banks Seem to Be Fewer
Gotham Trust Concerns Still Open
- Financial Institutions Adopt
Plans to Prevent Drain of Cash.

London say that America has purchas-
ed the whole of the gold in the open
market, about 100000 (s2,OOo.OOO),
and later took e453,00O ($2,265, OOO)
in bar gold and 100000 ($150,000) in
American eagles from the Bank of
England. The price paid for the gold
purchased in open market was 7Ss
I'D, plus the commission. Engage
ments of foreign gold for the United |
States have now reached $32,25O,000. /
The Seaboard National bank announc-
ed that it had procured s350,OOO Of
the metal. Heidelbach, Ickelheimer
4 Co. also announced the engagement
of 100000 in gold, and Lazard
Freres engaged an additional $780,
900 for import.
Trust Companies Open.
The Trust Company of America
and the Lincoln Trust company open
This followed conferences Saturday
and Sunday at the home of ]. Pier
pont Morgan concerning the general
financial condition and the desirable
ity Of relieving the heavy strain
caused by runs on these two trust
companies during the past ten days.
When the Trust Company of Ameri-
were in line, considerable diminu-
ton from the number on hand during
the earlier days of the run.
Will Be No Extra Session.
Advices from Washington say there
will be no extra session of congress
to meet any emergency of present
existence, and it is not deemed with
that any emergency will arise between
now and the time for the converting
of congress in regular session Dec.
2 to call for an executive proclama-
ton There is to be formal co-opera-
tion between the public officials and
the leading bankers at once looking
to conservative action BY the admins
tration and by congress in December.
No Money to Move Grain.
Grand Forks, Mimi, Nov. 5.-Sena-
tor Hansbrough sent the following
telegram to President Roosevelt Mon
day:
Fully 150,O00,O0O bushels of grain
are now ready to be marketed in the
two Dakotas and Minnesota, and there
is no money with which to do it. The
necessities of the Northwest are,
therefore, much greater than in any
other section of the country, demand
ing the fullest consideration at the
hands of the treasury department.
Ten million dollars placed in the
Twin City banks would raise the en-
barge and start grain shipments to
Europe. This would relieve the finan-
cial stress in the East much quicker
than a deposit of treasury funds in
New York.
Treasury relief operations should
have been begun here where the con.
gestion is greatest Our people are
not losing their heads. They have no
fear of panic, but in this crop NOV.
ing season our business men should
have special consideration
Ohio Bank Closed.
Leetonia O., Nov. 5.-The First Ma
tional banh here failed to open its
doors Monday A notice posted on the
door states that the concern will liqui
date its liabilities. G. N. Schmtck Of
Cleveland o., is president of the bank
Indiana Bank Closes.
Aurora, Ind, Nov. 5.-Owing to the
money stringency the Aurora Nationa
bank failed to open it's doors Monday
The bank was organized in 1883 with
capital stock Of $4,000, and it's de
posts aggregated $165,000. No state
ment has been made of the liabilities
Bank Cashier Commits Suicide.
Huntsville, Ala, Nov. 5.-James R
Boyd, cashier of the Huntsville Banl
and Trust company, committed sui
eide.
Banks in Texas Fix Limit.
Dallas, Texas Nov. 5.--The Dallas
banks adopted resolution which said
that continuing until further notice
the members would limit payments
to any one depositor to per cent
of his balance, but not to exceed $50
day, and require sixty days notice
of withdrawals of savings deposits
Small Checks in Frisco.
San Francisco, Cal, Nov. 5.-Forty
clerks were at work all day in the
clearing house preparing certificates
in denominations Of SIS, $40 and $40
which, Endorsed by all the banks in
the association, will be issued at once
by the clearing house. These certifi
Gates are to constitute a flexible cur
rency for use in retail trade and to
meet pay rolls until the present coin
stringency is relieved. The certifi
Gates will be accepted as legal tender
by the thirty-two banks in the clear
ing house association
Adopt Plan at Seattle.
Seattle, Wash, Nov. Sat meet
ing of the clearing house association
at which every bank in the city was
represented, it was decided to follow
other cities of the northwest in adopt
ing the use of clearing house certifi
Gates and ceasing cash payments ex
cept small amounts for emergency
purposes.
GA 9roRIA..
p,a,,ts. ,,The Kind You HAYS Always Bought
s''. y &MAzzzM