Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1907-10-25
MANY SMALL
BANKS SUSPEND
However Crisis on
Wall Street Has
Passed
INSTITUTIONS ARE SOLVENT
Some Forced to Close Be-
cause of Stringency Of
Money Market.

New York, Oct pa much calmer
tone was apparent in business circles
this morning. The success of the re.
lief measures undertaken yesterday by
J. Pierpont Morgan, John d. Rookie
feller and other prominent financers
together with the serenity with which
the officials of the Trust Company of
America met the run of its depositors
gave great encourag cement to bankers
and business men generally that no
further trouble was to be feared.
The twenty-five million dollars made
up by pool headed by Morgan, which
went into the stock market yesterday
afternoon, is believed to have given
permanent relief to brokers in need of
funds to carry stock bought and sold
on margins for customers. In an adj
dless last night at dinner given by a
local club Secretary of the Treasury
Cortelyou referred to the financial ST..
uation, saying:
Panic Not Without Good Results.
1--WE are having trying experience
hut with all its embarrassment find
my faith in the general stability of
business strengthened by examples
have seen of high courage and splen,
did devotion to the public welfare
shown by many men of great influence
in the commercial and industrial life
of this great city. The weak places
have been fortified but what is better
those of evil influence have been
scourged from their positions and the
determination to carry this work for
ward will have far reaching inf1u
ence in restoring public confidence"
The announcement was made this
morning that the United States FIX.
change Bank small institution in
Hallem, would not open for business
today. The bank has little more than
100000 on deposit and its suspension
was entirely without effect.
Anxious Depositors Remained in Line
All Night.
There were lines of depositOrs wait
ing this morning in front Of the Trust
Company Of America and the Lincoln
Trust Company's uptown banking Of
fee. The line at the office of the
Trust Company of America was main,
tanned all night and at it's head was
woman who declined to leave her
place even when men behind her had
promised that they would restore
that place to her in the morning.
Both companies resumed the payment
of depositors today.
Receivers Named For knickerbocker
Trust Company.
Upon application of State Attorney
General Jackson temporary receiver
was appointed today for the Knicker-
booker Trust Company, which closed
it's doors Tuesday after a run by its
depositors. The receivers are Otto I.
Barnard, Earnest Thalmann and Gen
eral Henry G. Ide, all of this city.
The stock market today opened ir,
regular. Sharp reaction followed the
opening gains. The fall in prices did
not extend far below last nights level
before a steadying tendency develop
ed The dealings in stocks were not
active and as a general list moved
rather narrowly.
Brooklyn Bank Suspends.
The Borough Bank of Brooklyn, a
state institution with capital OF
100000 and deposits of about three
million dollars, did not open for buSl-
ness today. It's business was not very
large and no prominent financiers are
connected with it. One Of it's pripcipal
connections was the Knickerbocker
Trust Company, which suspended busl-
ness Tuesday.
The International Trust Company,
one of the small and inconspicuous
trust companies, closed it's doors at
1O:4O o'clock this morning. This COM
pany had business connections with
the Borough Bank of Brooklyn, which
also suspended today.
The Brooklyn Bank, at Fulton and
Clinton streets, did not open for bust.
ness today. 1t has capital stock Of
$500, 900, and owes about $1,5OO,OOO.
Suspensions Increased as Day Ad-
vanced.
The First National bank OF Brook
lyn, with capital Of 100000, sus-
pended today 1t owes depositors
$4,200,000.
rr,t. o. oe Gu1jnH and