Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-10-24
CONFIDENCE RETURNS
FINANCIAL OUTLOOK DECIDED
LY BETTER TO-DAY.

Special Dispatch to The Star.
NEW YORK. October 24.-For the first
time since the run on the financial insti-
tutions Of this city began there were lines
of persons at the receiving tellers' win
dows of institutions that have suffered
from the public Misrepresentation waiting
to make deposits. Even the Trust Com
yesterday is still in progress had received
over S1,OO0.OG0 to be credited to accounts
of it's customers within an hour of its
opening today. At the Linco'n Trust
Company in 5th avenue, Ahe-e there had
been an incipient run, the line of de-
positors, with money to add TO the com
panys resources, extended out to the side
walk The Trust Company of Americas
deposits other than those made by the
banks which have agreed to support it in
any emergency, continued to increase
throughout the morning, one large insur-
ance company being credited with a con-
siderable deposit Just before noon.
Secretary Cortelyou said this morning
that he was well satisfied with the results
that have come from the governments
action of depos ting $25,OOO,OoO in the
banks and the arrangements made by
well-known financiers to protect the trust
companies and banks. He said also that
now confidence was being re-established.
he did not think it necessary to remain
in this city longer than today. and he
would probably leave for Washington
tonight
Everybody Happy-'Most.
At the meeting of the clearing hous
committee this morning ]. p. Morgan was
present for the first time in many years.
He was very cheerful when he left the
meeting at II o'clock. In answer to in
quiries he declared that, in his opinion.
the situation was all right, and whatever
danger had existed was over.
George w. Perkins, partner of Mr..
Morgan said in an interview this morn
ing: ."The situation is working itself out
satisfactorily. Confidence Is being re-
stored and everything will turn out all
right
At the clearing house al the sheets
went through early today.
For the first time s.nce the deposition
of F. Augustus Heinze as presi ident Of
the Mercantile National Eank that insti-
tuition had a credit halance at the clearing
house today. 1t amounted to 1924 600.
Every well-known tinancier who was in
terviewad today Joined with the declara-
ton of the trust companies that the
worst is over.
Leslie M Shaw said this morning: THE
patient is still on the operating table,
but we know that is going to recover.
The Trust Company Of America is as
sound as rock. 1t will be impossible
to break it.
President A. P. Hepburn of the Chase
National Bank, gave QUIT an omptimstic
statement at noon today. He said: THE
situation is clearing up and will blow
ing is dying out, and there will be plenty
of money to meet emergencies"
Schiff Declares Trouble Passed.
Among the bankers who conferred with
]. Pierpont Morgan during the day was
Jacob II. Schtf, head of the firm of Kuhn.
Loeb & Co. At the close of this talk Mr.
Schiff said:
1.-The situation is well in hand. 1 look
heard of none"
There was a rieeting of about twenty
presidents OF trust companies today at
the offices of the Union TrIst Company.
NJ announcement was HldCc at the close
of the meeting, but soon thereafte large
supplies OF currency were sent over to
| the Trust Company of America
HerfSck Sees No Cause for Alarm.
Former Gov. Myrcn T. Herrick of Cleve-
land was among Secretary Cortelyou's s
callers today. After leaving the sub
treasury Mr.. He-rick said he considered
the situation to be all right.
The country was never more prosper
GUS said he, ''and there is absolutely
no reason for alarm 1t is not analogous