The Roswell daily record. [volume] (Roswell, N.M.) 1903-current, 1907-10-26

NEW YORK, OCl. 20 ne STOCK eS-
change and banks closed at noon to-
day without any further failures of
| importance. With considerable i'm
provement of the stock market and
sureS taken or agreed upon to streng-
then the financial situation, a great
feeling of relief is apparent every
| where. 1t is understood that the treas
ury department will as heretofore ad
vance gold for immediate use so as
in transit from Europe. Meanwhile
clearing house loan certificates will
be issued as a precautionary measure.
The runs upon the Trust Company of
America and the Lincoln Trust Com
pany abated largely today. The de-
mands of country banks on their New
York resources were heavy, but not
alarming.
New York, Oct 26.-No apprehen-
sion was felt this morning as to the
result of today's financial transac-
tions. The principal difficulty through
out the weeks excitement has been
the lack of currency. There was not
enough money in the city to stand
The tremendous decline without cut
sudden lack of confidence is not wide
spread through the country.
Leading bankers said today that
conditions were such they probably
would be able to import gold from
London Monday to the extent of ten
million dollars. AS an alternative
means of relief clearing house loan
certificates have been tentatively dis
cussed. The sub-treasury received to-
day ten million dollars of small bills
from Washington
There We're small lines of people
in front of the Trust Company of
America and the Lincoln Trust Com
pa1y today, but fewer than yesterday.
The exchange pool which has been
supporting the stock exchange hous
es gave further assurance today that
money would be provided for call
loans when needed
The Terminal Bank of Brooklyn, a
small institution with capital stock
Of 100000, and deposits of about
$4,000. suspended payment today.
LATER The Clearing House AS
sociatioa today authorized the issu-
ance of clearing house certificates
George F. Baker, president of the
clearing house, said the amount had
been specified by the same method as
that in 1893. and will be followed.
Announcement was made today
that negotiations have been practical
ly completed for the importation of
large amount of gold from Europe.
James Stillman, president of the Ma
tional City Bank, said today that the
situation had been saved by the ac-
ion of the Secretary of the Treasur
er, who mas been so ably assisted by
the whole-hearted cooperation of Mr..
Morgan.
Secretary Cortelyou had confer
ence today with George w. Perkins
Of the firm J. P. Morgan & Co. after
WHICH PERKINS Sdiu- tnIHk lHIS
will be the last day OF the financial
difficulty
The drain on the national banks
was considerably relieved today by
the decision of the savings banks TO
stop heavy disbursements by requir-
ing advance notice for large with
irawals.
Money on call loaned on the stock
exchange today at fifty per cent. The
statement of the clearing house banks
for the week shows that the banks
hold 81, ,233 300 less than the legal re-
serve requirements.
Arthur P. Heinze, for several years
president of the Aetna Indemnity Co.
has resigned Beekman Hunt. form
erly vice president a1d general man
ager. has been elected TO succeed him.
Speculative Financing the Trouble.
Chicago. Oct 26-S Speculative FL
nancing" as a controlling factor in
railroading was denounced as fatal to
the prosperity of the railroads and
the country. by b. A. Clark, member
|of the Interstate Commerce Commits