Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1907-10-26
TOday's Telegraphic News.
The Financial Situation Improving.

The Financial Situation Improving.
New York, Oct. 26 If the Clearing
House Association acts on j. P. Nor
qsn's sdvic. it will resort to the issuance
Of clearing house certificates to check
drains on New York banks.
Toe ClesrDg House committee ia 10
session now footing up the amount with
drawn from New York institutions
through shipments to the interior or by
local depositors who prefer boarding
their money until the present period of
the panic is passed Should the total
seem great enough to warrant resort TO
the expedient suggested by Mr. Morgan,
a meeting of the full association will be
called Immediately to authorize the is
suance of the certificates.
The certificates are really loans, amply
secured and guaranteed by the banks ac-
cepling them. During occasions of
s,ringency they are issued and tsken up
after a return OF the money market to
normal conditions.
The adoption of such measures do not
imply that the banks are in distress, but
that more currency is needed than is
Immediately available. II is en- effsc-
live precsuton against the exhaustion
of cash supplies IN the financial iustitu-
tions.
Deposilors again gathered at the open.
ing hour today at the doors of several of
the banks and trust companies from
which there have been heavy withdraw
ais. The plumbers we're somewhat les
sened, bat to be sure that they we're in
time, a nun Der of persons arrived long
before dawn and few were even on
hand before midnight.
G,ld aegregsting S. 900, 900 Is on the
way from LOudon TO this port and is ex-
pected to arrive Monday. 1t is bsiDg
imported by the National City Bank
Another bank is known to be planning
to import 81, 900, 900 10 gold.
The line was still intact today at the
Lincoln Trust Company which is pay
ing all corners. Great delay is caused,
however, by the necessity of examining
accounts and goiug over the books when
checks for balances are presented.
]. Pierpont Morgan is suffering from
bsd cold, but was at his office as usual
this morning.
The weekly statement of the associated
banks issued today shows the following
changes Reserves on all deposits, de-
crease, Sl2,4l5, $50; reserved on de-
posits other than United States, decrease,
SO. OH, 1856; loans, increase, $40, S64,
1877; specie, decrease, So, 1926, $50; legal
tender. decrease, SO. 973, 500; decrease,
81, 939, 400; circulation, decrease, $2l4,
100; total losps, 81, 087,7l1. 900 The
banks low show deficit OF 81, 233 800
below the legal requirements last year.
There was 9 surplus OF S., SIS and
two years ago of $l2, 430, 925
Brooklyn, N. Y, Oct. rs. although
there is run of moderate sized proper.
tons Oh at the Nassau Trust Company,
Broadway and Bedford avenue, Will
liamsburg. things generally are quiet
around the financial section of the east
ern district. The officers of the bank
assert that the institution is perfectly
solvent aud will pay every depcsitor
Everything Is quiet around the doors OF
the suspended First National and the
williamsburg and jenkins Trust Com.
panies.
The Terminal Bank, Of al Sand street,
Brooklyn, closed lis doors this morning.
This bank was a depository of the Will
Transport Trust Company.
PiLisburg, Pc, Oct. 26.-After a
short meeting of the board OF directors
OF the PiItsburg Sock Exchange it WAS
decided not TO open the exchange today.
Secretary Charles j. Holman when asked
if he thought The exchange woul1 be
open Monday replied that be could not
say. 1t is believed here that business
will be suspended until the financial
turmoil is entirely quieted.
Providence, r. l., Oct. 26.-At a
meeting prolonged far into this morning,
The Clearing House Committee decided
to come to the assistance of the local
banks whenever called upon. The COM
mil.ee today recommended in the GER
tifcalion of checks such checks shou Id
be made payable ouly through the Prov.
ideuce CLEARING House.
The financial situation here today is
decidedly more roassuring, and it is be-
lieved that the action of the Clearing
House committee will prevent all danger