New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-10-21
THE THOMASES, TOO,
QUIT THEIR BANKS.
CLEARING HOUSE AID is
PROMISED.
-Four Ne5o Heads of City's Financial
Institutions ChOSen-Crisis
NO1C Orer.
NOzC Orer.

Thomas interests had been eliminated from the
banking organizations of New York City, and,
| In the light of this fact, the Clearing House AS
sociation announced it's readiness to lend all
necessary aid to any of the banks which have
been under suspicion, the Clearing House in
Vestigation having established their soIVsncy. Is
is believed that this action will prevent any
crisis in New York banking circles.
Rapid strides were made yesterday IN clearing
up and Strengthening the local banking situa-
ton. Most important was the announcement
by the committee of the New York Clearing
House that it had examined the several banks
of the association that had been under criti-
cism. had found them solvent and had decided
10 render such assistance as might be neces-
sary Then came the announcement that Ed
ward r. Thomas and Orlando F. Thomas had
resigned from every bank with which they were
associated and had disposed Of all stock hold
ings.
Second only in Importance TO this news was
the decision of the directors OF the National
Bank of North America to elect William F.
FIavemeyer president to-day IN place OF Alfred
II. Curtis, and the election OF Seth NJ MiHlken
as president Of the Mercantile National BANK 10
succeed F. Augustus Heinze, resigned To COM
plete the days developments it was announced
that William o Allison would become presl-
dent OF the Consolidated National Bank IN pIace
of Orlando F. Thomas. and that William H
Montgomery would succeed Edward r Thomas
as the head of the Hamilton Bank OF New 4orK
City, These changes mean the entire eiiInihA-
+fon of the Morse -Heinze- Thomas cOmDlnaIOn
from the local banking field
CLEARING HOUSE MEETING
The members OF the Clearing House commits.
too vrbo attended the meeting were Willlam A.
Nash president of the Corn Exchange BanAs
chairman; A B. Hepburn. president OK Ihs
Chase National Bank; George F. Baker, presl-
dent Of the First National Bank DunOhI
Clarke. president OF the American Exchange
National Bank; j. Edward Simmons. president
of the Fourth National Bank; Edward Town
send president OF the Importers and Traders
National Bank: Alexander D. Gilbert. president
of the Clearing House Association and Of the
Market and Fulton National Bank, and James
T Woodward president OF the Hanover Bank
After the meeting William Sherer, manager or
the Clearing House Association, gave out the
following statement on behalf Of the COMMITTEES:
A committee OF the Clearing House has
amined the several banks OF the association
that have been under criticism and mas them
solvent. The Clearing House cOrauittee has de-
cided TO render them such assistance TO meet
their deposits as the committee may think nee
essary-
In explaining the action OF the committee one
of the members. who refused to be quoted. said:
The committee has acted in time TO avoid
crisis. That is all care to say"
Though the withdrawal OF the ThOmases from
the local banking field had been foreshadowed
when Charles W. Morse got out on Saturday.
following closely upon the elimination OF 2.
Augustus Heinze and the suspension Of his
brothers firm, 1t was not generally supposed
that developments along this line would come
with such startling rapidIty was yesterday
the case. 1t was said there had been an i'm
portant meeting of bankers late Saturday night
at which IT had been decided that il would be
for the best interests OF all concerned for the
Thomas interests to retire As this arrange
ment was not opposed by either Edward r or
orlando E. Thomas, the Withdrawals followed
speedily.
E r THO9IASS STATEMENT
Edward r. Thomas gave out the following
statement outlining his positions
II have sold my stock holdings and resigned
as a director and president OF the Hamilton
Rank OF New York City. Ny holdings have
baen taken over by William r. Montgomery. sec
ond vice-president Of the bank. representing
local interests. I have been influenced to take
this step solely IN the interests of the bank and
7 was not asked or compelled to leave Neither
Orlando F Thomas nor myself has ever made a
loan from the Hamilton Bank"
Orlando F. Thomas gave out the following
statement:
holdings or STOCK III lIlS COilSOLAueeOu %N1S4OHaA
Rank 10 William o. Allison have resigned as
a director and president OF the bank, and we
have withdrawn as directors from this bank and
all other banks with which we were connected
We were not asked or compelled to get out. but
did It only in the interests Of the banks"
orlando F. Thomas. when asked II he would
also resign from the Hudson Trust Company, OF
which he is the president and director, said he
did not know Until his announcement yester-
dav he was director Of the Bank of Discount
a director and president OF the Consolidated Ma
tionaI Bank director of the Hamilton Bank, a
director and president of the Hudson Trust Com
many a director of the Mechanics and Traders
park a director Of the Mercantile National
rank and a director Of the PrOvident Savings
Life Assurance Society.
Edward r. Thomas has been director of the
Rowling Green Trust Company. the Consolidated
National Bank the Hudson Trust Company.
president and director of the Hamilton Bank,
first vfce-president and director of the Me-
chanics and Traders Bank. second vice-prest-
dent and a director of the Mercantile National
Rank and director of the Provident Savings
Life Assurance Society.
MEETING AT MIR. FLAGLERS HOME.
The directors of the National Bank of North
America did not lose any time after the resig-
nation of Charles W. Morse a vlce-president
and director in making important changes in the
nersonnel of the banks officers. a meeting OF
directors was held yesterday afternoon at the
home of John H. Flagler. at No. 10 Park ave-
me at which were present the following drec-
tors: Charles T. Barney Alfred r. Curtis. John
H. Flagler. Morgan ]. O'Brien and William F.