Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1907-10-28
N[N YORK QUIET,
SCARE Spreading
Improved Conditions in Metrop-
oils But Effect is Felt in
Almost Every State
AL OKLAHOMA BANKS CLOSED
Governor, to Protect Them, issues
PROCLAIM alton Declaring Six Day
Holiday--Run on Chicago and Kan
q. City Trust coneerns-6ank'
Take Advantage of Protective Laws.

sas City Trust concerns-sanks
Take Advantage of Protective Laws.
New york, Oct. 2s.-The financial
s;+,,ation continued to show encouras-
ing evidence Of Improvement ana up
to noon today exceptionally large en-
raeements Of gold had been mace
abroad. the stock market advancing on
general demand for securities at 10"
prices. Ctold engagements now toeal
$4,000, ,0O0, and already exert very
helpful influence. There was CONSUL
cradle orders from abroad Tor Amer
scan securtties, which must be paid Tor
in gold. and this will augment specie
imnorts. Investigation also discloses
an exceptionally large number OF
transfers Of stock upon the books OF
various corporations having headquar-
ters in New York, indicating heavy
buying. There was practically no mar
gin transactions on the stock ex-
change, AT this time no failures nave
been reported anywhere in New York.
Even In the case of the Kansas CITY
institution which closed Its doors. II
was forced to close only because II
was refused admittance to the priv
ilege OF the clearing house. Pressure
upon the banks in New York is dis
tinctly aloating. No new runs have
4 been reported and those begun last
week have dWindled into almost insig-
nificant proportions. Wall street has
assumed practically it's normal appear
ance. the crowds being no larger than
in days OF financial quiet. The adop-
ton of clearing house certificates and
the refusal to pay cash for boarding
purposes has produced no apparent ex-
citement whatever In the city.
New York, Oct 2S-Fortif1ed by the
remedial plans adopted Saturday for
the protec ction Of New York's supply of
currency, financiers began the new
business week in a hopeful frame OF
mind. They were especially encour-
aged by the precautionary measures
taken in other cities, including the is
suance Of clearing house certificates
at various other centers besides New
{ York, believing these measures will be
effective thruout the nation at large in
keeping the necessary supplies of cash
within the control OF the banks for
use in carrying ON the business of the
country.
The greatest danger thruout has
been th,, tendency of small depositors
to Withdraw their funds from banks
and place them in safety deposit
vaults, where they were withdrawn alb
solutely from circulation in the chan
nels Of trade where htey are so badly
needed.
The importation OF gold is expected
to assume large proportions and will
aid greatly in providing funds for the
banks. Up to date the engagements
for import amount to $11, 100000.
American Securities Advanced.
American securities in London
showed sharp advances today. Lines
Of depositorS remained in front of the
doors cf the Lincoln Trust Company
and the Trust Company of America
and the Riverside bank, small insti-
tuition, despite the heavy rain which
fell turnout the night.
~ or INN nj n
to be decided by the clearing house
{ today was whether or not to admit the
trust companies to membership in the
clearing house. The only opposition
= known to have been made to the plan
was based on the fact that the trust
companies are required by law to
maintain reserve of only 15 per cent
of their deposits, when national banks
are required to hold a reserve of 25
per cert. Some bankers contend that
this disparity in the legal reserve re-
quirenents will give the trust COM
panies an advantage over the banks
if they were admitted to the clearing
house and giving full privileges with
the banks.
The stock market opened higher. The
Trust Company of America resumed
payment to depositors as usual. There
We're fifty depositors in line.
The Lincoln Trust Company opened
for business this morning as usual.
The line of depositors was much
smaller than at the opening hour Sat
urday.
At the Northern bank, state insti-
tuition, there We're sixty persons in line
at the opening hour.
Any disposition to assume money
obligations for the purpose of operat-
ing in the stock market was froWned
upon, and business was kept at low
ebb. The delay in the appearance OF
supplies Of money there caused no
anxiety as intimations We're given that
loans would be carried over another
day. and money would be su'aplied
Wien neeesd most. Prices continued
10 sh,,w advances.
The loan committees of the clearing