Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1907-10-25
SMALL BANKS FAILING
Trouble Extends Beyond New
York---Stocks Gather Some
Strength.

New York. Oct. 25.-A fund of $1O,-
100000 or more was formed at d con-
ference held at the clearing house this
AFTERNOON to take care of the money
needs of the stock exchange, and it
was confidently believed this action
would tide over the situation complete
ly so far as the stock exchange was
concerned.
Carry Till Monday.
All loans made today will carry over
until Monday. The Trust Company of
America and Lincoln Trust company
had withstood depOsitors without diff
Guilty up to 2:15 this afternoon and of
ficials of the companies expressed them
selves as confident of the result
Several Close Doors.
Several financial institutions closed
their doors today, but this action was
without effect in larger circles. 1t was
believed the institutions were solvent
and that only inability to obtain ready
cash had caused them to suspend pay
ment, and it was hoped the suspen-
L y.
Great Demand for Fund.
New York, Oct. 25.-Bankers organ
lied to support the stock exchange
houses had about $4,000, coo to use for
that purpose. Up to 2:45 p. nj. S12,.
100000 had been loaned at about so per
cent
The stock market became quite
strong after these effective relief meas.
ures and prices were generally at the
highest point of the day
stu Pouring Currency In.
New York, Oct. 25.-The secretary OF
the treasury is continuing to give finan.
clal assistance in large way. Another
large supply of small bills is being
rushed to New York from Washington
statement issued by the sub-treas
urer today shows the local banks gain
ed $28,707,000 from the sub-treasury
during the week. This represents in
large part the deposits of the govern
ment funds made with New York banks
Cash Through Sub-Treasury.
New York, Oct. 25.-Cash amounting
to $4,400,000 was sent to the Trust Com
pany of America this morning throug>
the subtreasury.
The International Trust company :
small and incOnspicuous trust concern
closed its doors at 10:4O. This com
pany had business connections wit!
the Borough Bank of Brooklyn.
Another Squeezed.
The Brooklyn bank. at Fulton an,
Clinton streets, Brooklyn, did not ope-
for business today. The bank has ;
capital of 100000 and owes deposi:
ors a million and a half.
stocks Advance at Opening.
New York, Oct. 25.-Opening price
of stocks showed many wide advance
but in International issues they fell ia
short, as a result of the London parit
established before the local stock mar
ket opened
Morgan Rcnews Loans.
New York Oct 25.-The large loan
made by ]. Pierpont Morgan & Co. an
their associates to stock brokers yes
terday when the brokers were demora
lied were renewed today at 20 pc
cent.
Brooklyn National Goes.
New York, Oct 25.-The First n;
tional bank of Brooklyn, with capt.;
of 100000, suspended payment toda.
It owes depositors s4,200,000.
The failure of Gregory, Gulick & &C
members of the Consolidated Stock e:
change, was announced this Afternoon
The failure is unimportant.
The Williams Trust company
Brooklyn, capital 100000, temporari
closed it's doors this afternoon.
owes depositors $7,500,000.
Resume Payment to DepOsitOrs.
New York, Oct. 25.-The Trust Cor
pany of America and the Linco
Trust company resumed payment
their depositors as usual today. T,
stock exchange made their daily sc
Elements of accounts as usual to Il
clearing house.
Secretary Cortelyou said this NOR
ing, There is nothing today to cau
me to change my former expression
of belief that matters are steadily il
proving"
Brooklyn Institution Closes.
New York, Oct. 25.-The ,Borous