The semi-weekly messenger., 1907-10-25

IctItiOn III bankruptcy Filed
Against Firm of Mayer and Com
pany-Italians Storm Doors of
Bank-Reassuring Words From
Comptroller of Currency-Effect
in Other Places.
New York, October 23-Presidents
OF New York trust companies, at q
meeting held at j. Pierpont Morgan's
office and which continued until late
this afternoon appointed a committee
OF five presidents Of trust cOmpanies
similar in character to the clearing
mousse committee of the banks which
IS empowered to inquire into the con-
ditiOns and need of such trust com
panies as may apply for asslStanca at
subsequent meetings of the presidents
". Morgan will actively cooperate
the committee. The formation
lis committee was the result Of
M !lOr2an'S efforts to relieve the ex-
lS1 financial situation. The COM
mItee'S powers will be largely prOtec-
tive and supervisory. It's personnel
Is q guarantee of ultra conservatism,
including as it does, the few "Old line
companies which have steadfastly op-
posed the methods of the trust COM
panies of later growth.
a petition in bankruptcy was filed
in the United States court today
against the stock exchange firm Of
Mayer & Company. which made an
assignment yesterday with liabilities
of $6,QOO,000 T.. c.. Benedict was
appointed receiver with a bond of
100000.
More than $4,000 persons, mostly
Italians stOrmed the doors of the Dol
lar Savings Bank when that institu-
ton opened today Police were call
ed to control the half-frenzied crowd.
The Dollar Savings Bank is near the
Bronx branch of the KnickcrbOcker
Trust company, and the alarm was
started by the run yesterday oll the
Trust Company's branch.
ANY hncement was made today that
Hkl5fgh Thorne, president Of the
Trust Company of America had sold
control of the Central of Georgia rail-
road, fhlch he purchased Jointly with
Marsden J. Perry last July. Mr..
ThOrne declined to say to whom the
railroad had been sold. He denied
that the road had been sold to the
Rock Is;an'! irttl>*ts.
Rate for call money reached 90 per
cent. before l o'clock, the highest for
the day
The Trust Company of America
successfully WithStOod a run right up
to the close of banking hours at 3
o'clock. The stock market was rather
irregular IN the final dealings, st. Paul
being a weak feature. In general
however the market leaders held we'll
at prices considerably above the low
est of the day.
Washington, October 23.-Comp-
troller of the Currency Ridgley late
today save out a statement saying
that the general feeling indicates an
absolutely sound situation, that there
was not the slightest need of appre-
hension about the banks and trust
companies of the country. that the
banks of the reserve cities have every
disposition to leave their balance in
New york and other central reserve
Acities. and attributes the trouble in
New York to the condition of q very
few concerns discredited by the oper-
atiuns of their officers and to the diff
fcrent prices of stocks and securities
as between New York city and the
country banks
Norfolk. October 23.-The slump
in securities and high money markets
while it has made the local money
rnarxSt tight, has had no other effect.
The Veal financial institutions are not
affected bv any of the failures. The
local bankers believe that the worst
of the present furry has passed
Richmond. October 23.-The panic
in Wall street has not affected the
banks in Richmond nor is the situa-
ton in financial circles alarming.
While the losses have been quite Sc
we're, there have been no failures and
no embarrassment among the brokers
is anticipated.
A long distance telephone message
received by one of the largest banking
concerns this afternoon from MIR. j.
Morgan in New York, gave assurance
of better conditions there tomorrow.
New York, October 23.-There was
a sharp turn OF sentiment in financial
quarters late today, renewed conn
deuce in local banking institutions
taking the place of the panicky feel
ing that has threatened solvent hcuses
nd demoralized the stock eX-
change for the past few days: TO,
might these financiers whose eaIsd del1neraee hs
the nublic expressed the conviction
that the worst was over and that ou,
of the present chaos coEdlticn more
stable than has for some tinle eAlsleo
was rapidly shaping itself.
Many Of the banking house mer
who had lab0red almost day ano