The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-10-28

! the world that our laws protect the
| investor as we'll as those of other
! civilized countries. This is the presi-
| dents policy. He should be supported
| in this work.
No Trace of Distrust
| New York, Oct. 2S.-Prosperity. solid
! financial institutions. no trace of dis
conditions, no fears of trouble-these
phrases sum up messages received by
a newspaper here from presidents of
trade organizations in Boston, New
Milwaukee, Cincinnati, st. Louis. Min
neapolis. Cleveland and other cities.
Secured All Gold offered.
London, Oct. 2S-The United States
secured all the bar gold offered today
in the market, totalling near S. 600 600.
The price paid was $3.50 This is 31s
cents higher than previous quotations,
indicating the keenness of the compe-
tition. Both Paris and London bid
against the United States.
Copper Jumps Up.
London. Oct. 2s.-The confidence felt
ancial situation in the United States
was further evidenced at the opening
of the stock exchange this morning
when American rails were pushed up
to points over parity, a fair amount
of business being transacted. The GER
tainty of a drain of gold from here to
New York, however. affected the con-
soils and other gilt edge securities Dis
counts remained fIan and the fears of
dear money prompted the selling of
consols, which early in the day declined
5-16. In some quarters it was thought
that the Bank of Englands rate of
discount might beeraised today but the
absence of an advance at noon caused
a recovery of Il.
Copper shares ruled strong on a sud-
den increase of over SIS per. ton in the
price of the metal.
Stock Exchange Still Closed.
Pittsburg. Pa, Oct. est was de-
cided not to open the stock exchange |
at meeting of the board of directors |
this morning. Just when the ex-
change Will resume transactions is not |
known. Another meeting OF the d. |
rectors will be held tomorrow morn
ing. 1t is the belief in some quarters i
that the exchange will remain closed |
throughout the week.
Aside from the suspension of the !
exchange there is nothing worthy of
mention in the local financial situa-
ton.
Depositors Less Anxious For Money.
New York, Oct 28.-The Lincoln
Trust company opened for business
this morning as usual. The line of
waiting depositors was much smaller
than at the opening hour of Saturday.
stitution, at 693 Broadway, there were
so persons in line at the opening
hour.
The stock market had a strong OPP
ening, all the principal active stocks
selling at sharp advances over Satur-
day, but with very light transactions
recorded. The greater advances were
in Sugar, Northern Pacific, American
Smelling. Westinghouse Electric, To-
ledo, ST Louis and Western preferred
and Amalgamated Copper. Business
came almost to a standstfll after
few minutes, but the market retained
a steady tone. Additions to the sharp
advances were made when more
stocks came into the quotations, but
the general level of the active list did
not rise. u
Improvement at Providence.
Providence, r. l., Oct. 2S.-Banking
day. At the beginning of business there
was no evidence that any of the savings
Institutions would be subjected to an
number OF Withdrawals
Gold Imports Increased.
New York, Oct. 2S.-Lazard Freres in
creased their engagement of gold made
today to 81 900, 900. This makes total i
of s11 500 900 engaged for importation
since the gold import movement began
last week.
Puts Up the Rates.
Boston, Oct 2S.-The Boston Clearing
House association today decided to is
sue clearing house loan certificates
high rate of interest is for the purpose
Of retiring the certificates at the earli-
est possible date. The New York rate
Is per cent.
The loan committee of the clearing
house will pass upon collateral and ap- 4
prove the issue of the certificates at
IS per cent of the market value of the {
securities.
Leading bank officials declared today
that the adoption of the clearing house
certificates for the settlement of bank
balances was solely as precautfon ;
against the withdrawal of money by !
persons desiring to hoard it or to take
advantage of high currency rates in
other cities.
Had Only $4,000 In Cash.
Kansas City Mo, Oct. 2S.-The r
Bankers Trust company was taken in
charge by. w C. Irwin. who had been
sent here by Secretary OF state
Swanger The bank closed upon the
advice of Mr.. Irwin and it will liqui- ,
late He said the concern had been
planning for several weeks to liquid
ate and under ordinary conditions