The Mena weekly star., 1907-10-24
EXCITEMENT IN N[N YORK
A Run on Knickerbocker Trust Com. pany and Demoralized Stock
 Market in Wall Street.
WESTERN CONDITIONS CONTINUE HEALTHY
Leading Bankers In Kansas City, Oma. ha and Denver Declare the New York Situation Has Had no Effect Thus Far in Their Territory and None is Expected.

New York. Oct. 3.-Excitement the opening of the business Tuesday ir Wall street. The stock market opened demoralized under heavy selling by brokers in all departments of the exchange and at the same mo ment run of considerable propor- tions was being made on the various offices of the Knickerbocker trust company. At the main office, Fifth avenue and 34th street, more than 150 persons were in line at l0:3o, and there was line of carriages in wait ing extending for more than a block.
 The stock markets opening showed severely the effect of the renewed shock to confidence cause by the spread of financial distrust by the pub lished details of the affairs of the Knickerbocker Trust company Prices broke widely on the opening transac- tions under this outpouring of stocks, but almost immediately rallied The rebound approximated from one-fourth to one-half of the first break.
 The Knickerbecker Trust company stopped paying money to depositors at l2:30, the statement being made that the company could no. obtain cur rency rapidly enough.
 Liquidation continued intermittently in heavy volumes through the morn ing. lhis selling developed support ing orders on a scale downwards which regulated the rate of the de- cline. There were very wide drops in prices between sales. The fall in prices, however, was violent.
 At 12:35 the stock market was in another violent slump, Union Pacific selling at no, loss of 7A Reading at 76A. a loss of seven points; St. Paul at 1o7, loss of 6A points. At that hour call money was 50 per cent.
 Washington, Oct. 23.-Comptroller of the currency Ridgley in speaking of the financial situation in New York Tuesday said:
 My advices from New York Tues day morning were reassuring and the situation there should now improve. The storm has broken and the dam age known without any failures of the national banks, which have lately been criticised The clearing house confirms my reports that these banks are all solvent and Is standing by them. Their debit balances at the clearing house Tuesday morning are less than expected and l understand one bank paid it's balance without help. The National banks of the coun try generally are in strong shape, and there is not the slightest occasion for any alarm in regard to them. This is a tiiae for coolness and prudence and not for alarm"
 While 1t is believed that some ac- ton is being taken by the treasury de- partIaent in the matter of making de- pos.s of goyernmen funds to Ma t,onal banks to meet the present emergency in New York, Secretary Cortelyou refused to .iscrss the sub feet in any way. Mir Cortelyou said tha; not only would he not make any statement at this time. but would not discuss with any one the matter of deposits. It is understood that Secre- tary Cortelyou has ordered s67000,o00 distributed among the leading Nation al banks of New York.
 Chicago, Oct. 23.-The officials of the banks of this city are a unit fin declaring that never in the history of the city have it's financial institutions been on as sound basis as shey are at present.
 Following the failure of the Chicago Ar.sn.al hartx tx.yo vaara ago fha Chf-