The Washington herald., 1907-11-04
MEET WITH MORGAN
Bankers in Night Conference
on Money Situation.
EXPECT BIG GOLD IMPORTATION
Distribution of 100000. ono 10 Arrive
from Europe This Week Discussed.
Bank Examiners Hold Session.
Chairman Fowler. of House Bank
ing Committee. Optimistic.

New York. Nov AT 1.5o o'clock this
morning CMonday) a committee Of the
board Of trustees Of the Trust Company
OF America. headed by Oakleigh Thorne,
John z Borne. and William X Wander
bilt. jr-, left the room in the Waldorf
Astoria, in which they had been meeting
and walked over to Mr.. Morgan's house
It was announced that there was moth
ing to b. said at the time.
New York. Nov. IA series Of confer
ences Of bankers was held today in J.
Pierpont Morgan's library, at which va
rious aspects Of the money stringency
and remedial measures were discussed.
At night. while these conferences were
still going on. the directors Of the Trust
Company Of America and the directors
OF the Lincoln Trust Company. both OF
which have undergone d severe run since
the Knickerbocker Trust Company closed
week before last. were in session at the
Waldorf-Astoria.
Among those at Mr.. Morgan's home
were George ". Perkins. H. c. Frick.
Thomas F. Ryan. George F. Baker.
Charles Steele, F. Il. Gary. chairman of
the United States Steel Corporation
Board: Richard TrimbIe, its secretary;
Paul Morton. and Grant B. Schley.
Frick Declines TO Talk
Henry c. Frick was the first Of the
men To leave. and when he departed at
1915 O'Clock. he refused to say anything.
At II o'clock. Grant B. Schley, Of the
banking firm of Moore & Schley. came
out He said that he had no expectation
Of any difficulties tomorrow
At t11:3o o'clock an automobile arrived at
Mr.. Mcrgan's house. in which were four
men who came from the Waldorf-Astoria-
1t was conjectured that they were ennis
saries from the trust companies meetings
there. the more so as one of them was
| William Saloman, director Of the Lin
| coin Trust Company. Another was E y.
Morgan.
/ Just after midnight. and following close
/ on the arrival from the WaldOrf-AstOria.
/ the report began 10 be current that an
/ agreement had been reached to strength
! en- the Trust Company Of America, and
/ that plans were being discussed 10 do the
same for the Lincoln Trust Company.
Distribution of Gold Imports.
Previous to this the conference had
/ taken up, among other points, the ques-
ton Of the distribution Of $2000GOo0 in
/ gold which is due 10 arrive here this week
in various impoYtations-
z,-era raDOv+p Ia nal -
plants by banks Of the slowness with
which checks senS 10 the banks for col
/ lection were paid. and IL was said that
some Of the checks after delay had beer
returned by the banks to their customer.
marked Not cOlectable." a remedy fol
this condition was sought to-day. and
was. II was understood. matter OF dis
cussiOn at the directors meeting
A meeting Of all the bank examiners il
the city was held to-day at the home o
Clark Williams. State superintendent o.
banks. 29S Madison avenue, 10 discuss tn,
local banking situation Mr. William.
said tonight that there was no statemen
TO be made; that he was merely IA
miliarizing himself with the situation.
Representative Fowler Optimistic
Congressman Charles y. Fowler. o
New Jersey. chairman Of the Bankin,
and Currency Committee OF the House o
Representatives, discussed to-day tn
present financial situation. Underlyin,
business conditions. he said, were es
setiaIly sound. He added:
The cause Of the currency stringenc,
Is that there is scattered broadcas
throughout the country, at the mines, il
the wheat. corn, and cotton fields, il
the pockets Of the people, tills OF III
stores, or lookup. about S1.S00, 100000 0
the reserve money Of the United States
most Of which, under a proper condition
would be in the banks, serving as re
serves.
Temporary relief viii be through tn
forced use of current credit in the forr
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