The Washington herald., 1907-10-23
EFFORTS RENEWED
Trust Companies Committee Ad-
journs Without Definite Action.
KnicLSerbocker's President Gives
Idea of Trust OficiaTs Feelings.
Doubt Help from Others.

New York, Oct. Representatives of
twenty-five trust companies met at 3
O'Clock this afternoon at the Downtown
Club, 60 Pine street, under the auspices
of the Trust Company's Association. an
organization similar in its aims TO the
American Bankers Association.
The officers of the Trust Company's Asso-
citation had taken the initiative in efforts
that were made at Sherrys on Monday
night : get relief for the Knickerbocker.
This afternoons meeting had been called.
upon d opening Of banking hours, for
the purpose of renewing these efforts and
to take some definite action in regard TO
the establishment of a clearing house for
trust companies. But long before the
trust company officers got around 10 the
meeting point it was evident that it
would be unavailing so far as the KnIck-
erbocker's business for the day was con-
cerned.
The trust company officers were in ses-
sion two hours and then they issued this
statement:
Committee on Cooperation.
A committee Of three, consisting Of
John f. Borne. president Of the Colonial
Trust Company; Otto IT. Barnard. preSi-
dent of the New York Trust Company.
and David NJ Morrison. president Of the
Washington Trust Company, was ap-
pointed TO report a plan of closer co.
operation among the trust companies. A
comaittee was appointed consisting Of
Mr. Barnard; George W Young. presi-
dent Of the Windsor Trust Company and
Clarence II. Kelsey. president OF the Title
Guarantee and Trust Company. TO con-
fer with the officers of the Knicker-
booker Trust Company with a view to
extending such assistance 20 that COM
pany as an investigation Of its condition
would warrant"
The statements of the presidents meant
that they were not any nearer. az the
conclusion Of to-d8y's meeting. To- max
ing "a definite guarantee To stand behind
the Knickerbocker's cIeariuss than they
We're after the Sheery's.
A. Foster Higgins, the newly elected
president OF the knickerh.cker. gave q
pretty good idea of the feeling in the
meeting Of trust company presidents when
be Was asked upon leaving the Downtown
Club II the other companies seemed TO be
reluctant 20 support the Knickerb0cker.
Trust Companies Reluctant.
Reluctant is no name for H." said he.
They seem TO feel that they ought TO
hold on 10 all the money they have. one
of them said to me: We might have
helped you out, but here you have closed
your doors.
You mean that you don't want TO ride
a dead horse l replied. But / wish YOU
to understand that the Knickerbocker is
not a dead horse"
Mr.. Higgins ended bg putting it squareIy
up To the meeting and asking what they
were going TO DO about the situation. Mr..
Higgins would not say what the answer
OF the meeting was, but he gave the i'm
preston that the reluctance Of the trust
company presidents had not diminished.
Among the trust company officers who
attended the meeting were John r.
Borne, Of the Colonial, who is president
OF the Trust Companies Association.
Oakeigh ThOTne president of the Trust
Company of America: George W. Young.
Of the Windsor Trust Company; J. Ed
ward Swanstrom, Of the Home Trust
Company; Otto T. Barnard. of the New
York Trust Company; Leslie NJ. Shaw.
Of the Carnegie Trust Company; lie Roy
Baldwin, Of the Empire; Charles /. Rob
mson, vice president of the Guaranty
Trust Company; David II. Morrison. Of
the Washington; Clarence II. Kelsey. Of
the Title Guarantee and Trust Company.
and II. w. Moore, Of the Commercial.
Several OF the largest trust companies
IN the city did not take part in the
meeting. Some Of these absentees were
members Of the association and some not,
but 1t is understood the invitation to at
tend the conference was general. and
without regard 10 membership in the or
ganizatiOn.
Among the trust companies which were
not represented are the Farmers Loan
ana Trust Company, which is the largest
in the city. the Union, the METROPOLITAN.
the Morton, the United States Mortgage
and Trust Company, the Equitable. the
Mercantile, the Central. and the Columbia.
Whether or not the trust companies
will come TO the relief of the Knicker-
booker probably will not be known def
nitely until after to-morrow's meeting
Wall street generally seemed to doubt
il the other companies would step in.
4 product of Southern climes. CHUCK
IERERR REFS.f' the SupafaSf 20 e,,ol-..