The Bon Homme County independent. [volume] (Tabor, S.D.) 1904-1913, 1907-10-31

SHUTS TERRITORY
BANKS TIGHT
ST. Louis and Kansas City Re-
fuse to Toward Money
to Them.
GOLD is SENT
States Takes All Available
From World Metropolis
New York Tension
L~essened.

Oklahoma City, Oct. 29.--Every
bank in Oklahoma City remained
closed today in accordance with
orders issued by Territorial Gov
ernor Frantz. 1t is understood the
order affects all the national
banks in Oklahoma and Indian
Territory. The action was taken
because the banks of Kansas City
and st. Louis refused to forward
cash to the banks Of the southwest.
IL is said a telephone consultation
of many bankers in Oklahoma, In
dian Territory and Texas took
place early today and all decided
upon similar action.
New York. Oct. 30.-The principal
events in the financial district Monday
indicated that the worst of the crisis
was over and that conditions were
settling down to normal. There were
no further bank suspensions, and re-
ports were favorable for the esump-
tion of most Of the banks, which
y closed temporarily last week. The en-
gagement OF $18,750,000 In gold from
Europe for importation to New York
was followed by the sensational an
nouncement of sales of American cop
per abroad which will further increase
the tide OF foreign money to this coun-
try to an aggregate of over $25. 900, 900.
This. with the rapid rise OF good Sc
curities on the stock exchange, in some
cases as much as 4 4 and 5 per cent, and
the policy of the trust companies not
10 pay currency for boarding purposes,
all contribute to strengthen h feeling
in banking circles and among the pub
lie at large.
Morgan Stays in His Library.
So well was the situation in hand
that there was no scurrying about of
leading financiers and hasty confer
ences as took place during the closing
days OF last week. j. Pierpont Nor
a was in touch with the situation in
his library on Thirty-sixth street, but
did not hnd Ii necessary to come down
town.
Runs upon banks practically ceased,
partly because of recognition that they
We're unnecessary and unjustifiable,
n partly because of the policy adopt
ed to pay large checks only in certif-
Gates on depository banks. This sys-
tenn OF payment worked no apparent
hardship and was the cause of very lit
tie protest. Small checks were paid
promptly in currency, and large
amounts where it was demonstrated
that currency was required for pur-
poses ether h a boarding. 1t is still
possible for a frightened depositor to
transfer his account from one institu-
ton to another by depositing a check
In the depository for which he now has
q preference, but he cannot withdraw
large amounts in gold certificates to be
locked In a safe deposit vault, as was
the case last week.
Up TO date the engagements import
amount to- SIS, 200, 900 by the National
City bank, $1,000, 900 by the Chase Ma
tlollal, $1,000, 600 by the H~eidlebach, Yek-
leheimer & Co., Saturday, and 81, 900, 900
py n Hanover National today.
Gold lmportations.
Gold to the amount Of about S. coo, 900
will probably be offered in the open
market in London today, inc it Is
hoped the United State will secure the
larger portion OF this. American secIri-
y ties In London showed q sharp ad-
vance at l p. m. today. Amalgamated
Copper advanced ~, Atchison Ia, I'm
ion Pacific ~ n other shares frac-
t~ionalIy higher.
Lines Of depositoro remained in front
of the doors of the Lincoln Trust COM
pany and the Trust Company of Ameri-
ca, despite a heavy rain which fell
throughout the night. All night the
line a. the Lincoln Trust company
numbered eighty persons n forty-fve
were waiting their turn at the Trust
Company of America. Three persons
remained in line at night in front of the
Riverside bank, a small state institu-
ton at Eighth avenue n F1fty-seVenth
street. At 9 o'clock the line in front
of this bank was t~hirty-five persons.
Laseard f.. Reres engaged 81, 800, 900
IN gold for importation from London to-
day. This makes $11,0 00, 900 in gold en-
gagged for importation since late Fri
day. r
The Lincoln Truss company resumed
business this morning as usual. The
! of waiting depositors was much
smaller than at the opening hour Satur-
day. At the North bank, a state insti-
tutlcn at 693 Broadway, sixty persons
were In line at the opening hour. The
Trust Company of America resumed
payment to ~depositors as usual at 10
o'clock.
The geld imports Of Reres were sub
sequently increased TO make a total Of
I'll 500, 900 for imports.
n financial conditions show grow
ing evidence of Improvement up to noon
today. Exceptional engagements OF
gold had been made abroad and the
stock market is advancing on a general
demand for securities at the present
low prices. Gold import engagements
now total $12, 900, 900 and already this
exerts a very helpful influence. There
are considerable orders from abroad for
American securities which must be paid
Tor In gold, and this will augment spe-
Gle imports.
Practically no margin transactions
on the stock exchanges were recorded
today. No failures reported In New
York up to / o'clock. Pressure upon the
banks of New York was distinctly abat-
Ing. Runs dwindled into almost insig-