New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-10-21


meet thet demand up to a certain point, after
which zine the paper would be turned over to
the Clearing House TO make good. The public
cannot lose in this way.
But I got out merely to prevent the public
from taking any dislike to the personnel of the
banks was connected with Aside from that
was obliged to devote considerably more time to
banking matters than 1 could afford to-
Asked If he intended to withdraw from the
banks he vas identified with as stockholder'
Mr.. Morse said:
"No, I shall retain my stock holdings"
Mr.. Morse said he believed the action taken by
the Clearing House committee and the action
of the di. ~ctors OF the Mercantile National Bank
in c.ectng Mr.. Miiken president would have q
beneficial effect on the local financial situation
when the marke, opened to-day.
a personal friend OF Charles w. Morse said
last night that Mr.. Morse announced on Satur-
day night after the Clearing House committee
had MADE its examination of the affairs OF the
Nationa! Bank Of North America. that, in spite
of the heavy depreciation in the securities III
which he was interested in the last year he was
worth to-day S11,00OUOO
The debit of the Mercantile National Bank at
the Clearing House to-day is expected to be
much smaller than was the case on Friday ana
Saturday Of last week. as it is understood lhaI
sStaa substantial loans were paid yesterday. Its
debit on Saturday was S1,100.OO0 and on
the day previous was close to 100000
Late last night Orlando f Thomas announced
that he had never been borrower 10 an! eN-
tent from the Consolidated National Bank
while he was at the head of its affairs. and that
he did not at present owe the bank dolidI'
The reports that national bank examiners
had been ordered to make special examinations
of several Of the banks in the Morse-HeihZS-
Thomas combination a result OF recent us
closures were officially denied last night II was
said that no special examinations ma pt'"
ordered and none made save such as were que
in the regular course of semi-annual visits.
WHY MR.. RIDGELY DECLINED.
olose friend of William F. Ridgely, the Con-
troller Of the Currency. who was asked 10 ne
come president of the Mercantile National BANK
last week but refused to take the place after ne
had come 10 New York and looked the srouhu
over said last night;
Mr. Morse was not an old friend OF MI
Ridgely The latter told me last week when ne
was here that he had seen MT. Morse o'llN one
before he made the offer of tho presidency OF
the Mercantile National Bank TO him. Mr. Ridge
~ had frequently criticised Mr.. Morse in the
mast What MI Morse wanted was the influence
of Mr. Ridgelv's name. His first proposition to
Mr.. RidgeIy did not give the latter the control
he wanted Then, when Mr.. Morse offered to
give Mr. Ridgely full stock control. the latter
decided that he did not want the place MI
Morse wanted Mr.. Ridgely to take over his stock
and that Of Mr.. Heinze, which carried control
of the 90. 900 shares outstanding. Mr.. Ridgely.
however had seen the whole scheme ny this
time and refused to be used as any one S tool.
So he declined the place"
David A Sullivan. president OF the Mechanics
ana Traders Bank issued the following state
ment last night:
David A. Sullivan. president of the Mechan-
les and Traders Bank. who acquired control oil
the stock from the Thomases last January an
nounces that f r. Thomas has resigned as
vice-president and IS director OF the pahh'
Mr.. sullivan further announces that .. +.
Thomas has resigned as director.
The elimination OF the Morse einze-Ih"n'as
element from the local banking situation pico-
ably means that there will be a large number
Of changes in the directorates Of all the banks
in which these men ana their friends have had
representation.
Stanley Clifford who has always been looked
1lpon as a stout adherent of the Heinzes ana IS
secretary and treasurer Of the United copper
Co,opanv is a director in the Hamilton Bank
the marlborough Bank, the Northern Bank ana
the Riverside Bank, and was = director IN the
Mercantile National. Miles VI. OBrien. the wee
president Of the Mercantile National Bank is
also a director in the New Amsterdam NatlonaI
Rank. the United States Exchange Bank, trus-
Tee in the East River Savings Institution and
director in the American Ice Company which IS
controlled by Charles w. Morse
Harry p Morse, relative Of Charles W.
Morse is a director in the Garfield National
Rank and the New Amsterdam National BANK
and was a director in the Mercantile National.
While Charles ". Morse has been banker OF
allied with the banking business all his life the
same IS not true of the Heinzes ana the
who are comparatively newcomers IN
banking circles. 1t is understood that MI
Morse will devote himself entirely IN the future
20 +be affairs Of the American Ice Company and
the great shipping interests which he cohtroIS'
Edward r. Thomas is the son of the late Cen
eraI Samuel Thomas. Until q few years ago
he was a member of the firm of Thomas & post
in Wall street He is the president of or dI-
rector Of many banks Mr.. Thomas IS promi-
nent as a motorist and is a familiar figure on
the turf where his thoroughbreds have won
many notable victories His home is at No.
Il West 57th street. He is member OF the
Automobile Club of America the Union Club,
Luncheon Club. Larchmont Yacht Club. the
Lambs. the Yale Club and the Ardsey Casino
Association. He is also q member or the Alpha
Delta Phi fraternity
Orlando F. Thomas for several years a
partner of Edward r. Thomas, but il not re-
lated TO him. His home is on large estate
near Lyons, n Y In January, 1905, his racing
automobile, piloted by II. W. Fletcher broke
the record for 100 miles on the beach at Or
uond, Fla. He is a member Of the American
Yacht Club the Blooming Grove Park Associa
ton. the Automobile Club Of America, the
LarchmOnt Yacht Club and the New York Ath-
ietic Club.