Semi-weekly herald., 1907-10-31
FINANCIAL SITUATION
THROUGHOUT COUNTRY

ing house certificates, as a precautiOn-
ary measure. Because of the tight.
ness OF money Governor Fraltz of
Oklahoma has ordered the banks
closed. Heavy importations of gold
from England and the continent has
begun. All is quiet in New York.
Stocks are higher and the danger OF |
panic Is gone. The Trust company OF |
America and the Lincoln Trust com
pany of New York continue paying |
depositors. The Pittsburg exchange
remains closed. The Bankers Trust
company of Kansas City has closed
its doors.
Denver, Oct. 2S.-Late last night the
Denver banks agreed to stop payment
of currency and to substitute in its
stead clearing house certificate.
This is in accordance with the action
taken in various other cities and was
determined upon to protect the Den
yer supply of currency. The savings
banks and other banking institutions
not in the clearing house have united
| In the same action This state of af
| fairs will continue until November >.
Depositors' check on regular pay roll
will be paid in cash and laboring men
will suffer no inconvenience. Deposi-
| tors will transact their business by
1 means of checks. These will be re-
| turned to the banks and the accounts
i az xxftt n aI, cd
the books. Drafts on Denver banks
from outside cities will be handled in
the same way. These will be honored
by exchange on other cities or by
| clearing house certificates.
New York. Oct. 2S.-Fortihed by the
plans adopted Saturday for the protec
tion of the New York supply of cur
rency rnanciers began the new busi
ness of the week in hopeful frame
OF mind, especially encouraged by pre-
cautionary measures taken in Other
cities. including the issue of clearing
house certificates at various other cen
ters.
| New York Oct 2S.-The prices
stocks opened at sharp advances owe.
Saturday with the exception of some
lesser stocks. in which there were de
clines. American Smelling started 2
points higher. as did Northern Pacific.
Sugar, Westinghouse Electric and To
ledO, st. Louis & Western preferred.
Amalsamated Copper rose nearly 2
points
Kansas City. Mo-. Oct. 2s.-The
Bankers Trust company. with depos-
its of $500 900. closed this morning
Cashier Hughes said that they had
decided to close temporarily because
the clearing house association had re
fused to extend to them the privilege
granted the thirty other leading banks
here of Issuing clearing house certif-
! Gates.
Kansas City. Oct. 2s.-There was no
appearance of run on any of the
banking institutions here when they
opened for business this morning and
leading bankers reiterated that they
had complete confidence in the situa-
ton. The clearing house decided to
issue certificates and that action was
put into effect today. 1t applies to
thirty principal local hanks and trusI
companies Of this city.
Oklahoma City. Okla, Oct. 2S.-On
demand of bankers of the territory.
: Governor Frantz has issued proela
nation closing the banks of the ter.
. ritory for n week. The action was
taken because the banks of Kansas
City and st. Louis refused to forward
cash to the banks of the southwest
Consultation of the bankers of Okla.
homa. Indian Territory. Arkansas
and northern Texas by means of tele-
phone took place during the early
hours this morning. and all have taken
similar action there. There is no un-
easiness in this city and bankers say
the deposits last week were greater
than at any previous week in the
month.
quest of the Portland Clearing House
association. Governor Geo. H. Cham.
berlain last night declare the next
fiye days a legal holiday in order to
prevent money famine in this state.
| Berlin, Oct. 29.-The discount rate
o. the Imperial Bank of Germany was
raised today from 5la TO 6hs per cent.
1t is said the changed situation in
the market here is directly due to
New York's demand for gold.
New York. Oct. 29.-"We have
passed through trying time We
have seen the stucco front of charac-
ter fade away and disappear. We
have seen false structures crumble
IL has been a great illumination and
the lesson is that the sturdy methods
OF our forefathers is the best" f.
II. Hartman, seated in the little cub.
by hole he calls an office in one
corner OF the maze OF rooms utilized
by the Union Pacific and allied lines
in the Equitable building spoke of the
crisis which Wall street has just pass