The Irish standard., 1907-11-23
BIC new YORK BANK
RE0PENS ITS Doors
TWELFTH WARD INSTITUTION
THAT CLOSED AFTER FiNAN.
clAL CRISIS RESUMES.
CROWDS GATHER TO
DEPOSIT MONEY
Instance Furnishes Another indication
That Financial Situation is Rapidly
Improving-smeIters Are Working
Overtime to Produce Gold.

New York, Nov. 20-As evidence Of
the marked improvement in the finan-
cial situation In this city the Twelfth
Ward bank, one of the institutions
which suspended payment during the
early part of the crisis, reopened for.
business Wednesday. The announce
ment was made Tuesday in the form
of a brief notice posted on the door
of the bank. It said:
"This bank will open for business
Wednesday, November 20''
News of the reopening of the insti-
tuition spread quickly throughout the
: Harlem district where the bank is To-
Gated and within an hour a good-siz
crowd had gathered at the building
to make deposits. Several of them
requested permission to make depos-
its Tuesday, but they were informed
1t would be necessary for them to
await the formal reopening of the In.
stitution Wednesday.
Syndicate Rumor DIscredited.
The local subtreasury has received
its first official advices from Washing
ton regarding the governments issue
of $100,000,000 of treasury certifi-
Gates. Subscriptions for normal
amounts were taken, but nothing was
known of $25,000,000 syndicate said
to have been formed to take up a por-
tion of the issue.
No deposit Is required with sub
scriptions to the treasury certificates
and banks and brokerage houses in
the financial district announced their
willingness to forward bids without
exacting any commission.
Proposals for the new Panama
canal loans will have to be forwarded
direct to Washington. rs the various
subtreasuries are not authorized to
accept them.
More Gold from Abroad.
Engagements of gold abroad for Inn
portation to relieve the financial strin-
gency in the United States are near.
ing a total of $75,00O,0OO. Heidel.
bach, 1ckelheimer & Co. and the Guar
anty Trust company, both of whom
already have made large engagements
since the present movement began, an
nounced that they had concluded ne.
gotiations, the former for an addition.
al $1,000,000 and the latter for $780,
600. This brings the total engage
ments to date to $72,900,00O.
Brooklyn Bank Probe On.
New York, Nov. 20.-The proceed
ings against various bank officials in
Brooklyn" began Tuesday before the
grand jury. Assistant District Attor-
ney Elder has charge Of the matter.
Only documentary evidence has been
introduced so far.
The affairs of the Borough bank are
now directly under investigation and
detailed statement of various loan
transactions has been prepared Ac.
cording to the statement, c. w. Her.
mans, one of the bank examiners, re-
ported that direct loans to William
Cow, the banks largest stockholder,
amounted to s1s6,438, secured by COL
lateral amounting to $155, 700; that
these loans were in excess of 40 per
cent. of the capital of the book sur.
plus of the company, 40 per cent. be.
ing the legal limit secured by loans
to any one borrower.
Hail Billion Waterway Bonds.
Washington, Nov. 20.-A $500, 0,00O,.
900 bond issue to establish. fund for
permanent great waterway improve.
ment is the purpose Of bill to be in
troduced by Representative Bartholdt
of Missouri early in the next congress.
He announced his intention after a
talk with the president. Another bill
which Mr.. Bartholdt will introduce is
intended to give legal status to the
inland waterways commission, which
was created by executive act.
Canadian Bills at Par.
Montreal, Cam, Nov. 20-Canada is
enjoying the novel experience of hav
ing its bank bills in demand at par
In United States centers.