Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1907-10-28
NO FURTHER
FAILURES OCCUR
Financial Situation
in New York En-
couraging
G0BBL|NG UP SECURITIES
General Demand For Them
at Low Prices. -.Imprc We
ment Widespread.

New York, Oct. 2S.--The fnancia
situation continued to grow encour
aging in this city as evidenced by
the Improvement up to noon today
and the stock market was advancing
on general demand for securities
at low prices. The gold engagement.
now total sl2.000,O00 and already ex
ert helpful influence. There are
considerable orders from abroad fol
American securities that will augment
the specie import. No failures were
reported in New York up to / O'Clock
and the pressure on the banks o
this city is distinctly abating.
Fortified by remedial measures
adopted Saturday for the protection
of New York's supply of currency, 10
cal tinanciers began the new weel
today in hopeful frame of mind
They were especially encouraged by
the precautionary measures taken iT
other cities, including the issuance o
Clearing House certificates at various
other financial centers. besides .ieW
York, believing these measures viii
be effective in keeping the necessary
supplies of cash within the control OF
banks for use in carrying on the bu5i
ness of the country ENGAGEMENTS o1
gold for import from London to date
amount to eleven millions of dollars
Run on Chicago Bank.
Chicago, Oct. 2s--Shortly after
noon today call was sent from the
Hibernian bank for q number OF po
lice. At the bank about 100 people
were in line to withdraw their de.
posits or give notice of their with
drawal and thef officers desired tt
keep them in line. 1nere was nc
excitement and the situation remains
unchanged.
All Reno Banks Reopen.
Reno, New, Oct. 2S.-Every bank In
Reno opened for business today. Dur
ing the last forty-eigHt hours conf
dence has returned to the people and
there were no runs today. Huge
stacks of currency and coin are in
plain sight behind the counters OF
the local banks, and every demand
for payment was promptly met.
Denver Banks Issue Clearing.
Denver. Colo, Oct. 2S.-The Denver
Clearing House Association has adopt
ed the same rule as adopted in other
cities of issuing Clearing House GER
tificates. Depositors may draw $1oo in
cash each week and the rest OF their
checks will be held in Clearing House
certificates, which are expected to cir
culate like bank notes.
Pittsburg Stock Exchange Remains
Closed.
Pittsburg, Pa. Oct. 2S.--lt was de-
cided not to open the Stock Exchange
this morning. Just when it will be re-
opened, is not known. 1t is believed IN
some quarters that it will remain clos
ed all week.
Duluth Board Of Trade Suspends
Operations.
Duluth, Mich, Oct 2S--Tradng in
grain suspended on the Duluth Board
of Trade this morning, owing to the
present money conditions. Business
will not be resumed until these condl-
tions improve.
U. S. Secures all Bar Gold offered in
London Market.
London, Oct. 2S.-The United States
secured all the bar-gold offered today
in the market, totallying five million
dollars. The price paid was $3.50.
This is 3 1-2 cents higher than the
previous quotations and indicates the
keenness of competition.
Germans to Take Advantage OF Panic.
Berlin, Oct. 2S.--The violent finan-
cial squall in the United States is re-
garded here as having passed as
quickly as it came up. The great
Berlin banks are assuring their Gus
toners that the crisis which for a
week has gripped New York is relax
ing and that conditions in America are
so sound that no deep seated conse-
quences can follow. A representative
of a powerful Holland financial inter-
est who happens to be here has sent
word to Amsterdam that now is the
time to invest in American securities
and many Berlin brokers in their let
ters to customers advise them to go
in for American stocks now, while they
are under pressure that probably is
only temporary.