The Montgomery advertiser., 1907-10-26
More Banks Forced to
 Close Doors. MORGAN AGAIN COMES TO AID OF STOCK EXCHANGE The Gearing House Decides to,
 Issue Certificates.
 -s- Big Financial Iastitutioss of Metropolis Have showa Extraoraiaary Pew- CT of Es.sissaaee--saviass Banks Take Advaatage of
 Notice Rule.
2 Whe= Gsestisnea a. to how he ' g regarded the financial situation z today, J. F. Morgan safds 2 if people will keep their money 2
 Sfn the banks, everythfnk will hs 2
 . all ri9ht.s 2

wracking day has passed. but the fin- ancial institutions of New York have shown extraordinary power of resist- ance.
 While several minor fnstitutions have been forced to close, yet two things should be said about them--first. that 4 the amount involved was not so areat as to exert any marked influence on the general situation, as these bauhm were in residential quarters ana ds6 not come into touch with the larger financial institutions; ana second, there is every reason to believe that thaae banks and trust companies gre solvent ana that their dffsicuitlea viii prove only temporary and due to inability to secure ready cash. Of course. the ces@ sation of business by thasa companies caused trouble to many persons, buf not az great as it might seem. as Inc depositors are for the most part located in the welI-to-do quarters of the eity
 Tn the light of the general excitement. the savings banks thought it wise f6 put Into effect the rule recurring thfr. ty to sixty daysf notice for withdraw ais. The savings banks. if they 6ons continued to make payments. would be ohhged to withdraw funds from n tional banks thereby causing an adM{s 1oAzi stratn On the generai asknafi0n. There WAS not the slighFeak hint that any e2 tha EAgiugs ftatikutfona w6rm ir Anything bu& the sonndaes cpniis tions and t was pointed out that th4 savings banks Of this Btnta are 50 f6. atricted by law In investing Ehair nzon~ ey that there can be no question that all of the securities in their possession are of good value.
 Other nnnIks Cfone.
 The institutions which closed thalk doors today. with the sums due depos- itors, were:
 The United states Exchanre Bank. Harlem. ys00,o00; international Trust Company. about st00.00o; the Borough Bank of Brooklyn, S4000ee0: the Brooklyn Bank. 2.S00. eco: Williamsburg Trust Company. Brooklyn. e7S0Q, GOO, and the First National Bank of Brook lyn. ss.500,00O.
 The First National Bank of sBrook- lyn, the Williamsburg Trust Company and International Trust Company were allied institutions. None of thesA companies had important business con. nections with the larger ban4s.
 On the other hand. some favorable features marked the day. The Trust Company of America and the Lincoln Trust Company. the organizations which have suffered most from rune. have been slowly paying their deposi- tors and closed today with afl demands met In the case of the Trust Com- pany of America, the run has welt- nigh spent it's force as the great bulk of depositors have been paid of. At the close of business there were many in line at the Lincoln Trust Company, but also there was marked reduction in the number of anxious depositorss
 The most favorable incident of the day was that the Stock Exchange was provided with funds ample to meet It's 4taf fn hU mo headed by J. Pierpont Morgan, which sent in about e15,000000 this after noon. The stock market had held rel- atively firm all day, but when the pool money was offered fin the loan corner tn ere was an immediate upturn. and the market closed strong st the best
 Loans HoId Over.
 As all the loans made today hold over until Monday. the Stock Exchange situation will not be banking factor tomorrow. This afternoon Clark Wil~ Hams, the newly-appointed State S,l- perfntendent of Banks. affirmed tho soivency of the local institution.
 At 1880 o'clock this afternoon. Clark Williams. State Superintendent of Banks, gave out the following signed
 aBy the facts within my Knowledge and information received from reliable sources, I am CouNmNoO SA@S StN-- improvement fin the situation has ocs cured during the morning.
 s'If depositors are not unreasonable I look for a continuance of this i'm . provement.
 superintendent of BankssN
 There was the usual crop of alarmist reports afoat during the day, one of them that a large dry goods house was seriously involved. but this as well as other rumora proved false.
 A further encouraging development was the decision arrived st unofacialIy to issue clearing house certificates. nrobabIy tomorrow. There will be a full meeting of the Clearing House As- aociation tomorrow morning to con~ alder the issuance of these certificates. The immediate effect of this will he to enable the banks to settle the bai~ ances between themselves with these certificates and thereby release larg9 sums for regular needs.
 To Issue Certificates.
 The decision to issue clearing house certificates is likely to end any fur- finer anxiety in regard to the supply of ourrency. The certificates will be issued as usual only upon the deposit with the clearing house committee to acceptable securities. and only in such amounts as the clearing house com mittee shall approve. But in the case of a bank whose affairs are sound, there will be no arbitrary limit On tha assistance of this sort. M
 The first issue of clearing house certificates was in 1860, and there were several more during the war. Other