Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1907-10-26
!, = Shipment Of s3,-
1000 Arranged to
., Started Monday.
lTEMENT Is LESS
ing Financiers Give Praise
| COrteItou and Morgan
For Their Activity.

New York, Oct. 2G.-Ihe Clearing
j House association today authorized the
issuance OF clearing house certificates.
The National City bank today an
nounced an engagement of $3.5o0,Oo0
of gold in London. This engagement
was made on the banks own resources
and without government aid.
say Scare il over.
New York. Oct. 2G.-Captains of
finance who with Secretary Cortelyon
have been battling night and day to
preserve order in the banking world
held no conference last night, but re
tired early confident in the belief that
the threatened situation had been sue
cessfully cOmbated, and that from now
on the restoration of public confidence
and tranquility would be speedily ac-
complished.
Securities are Good.
The principal difficulty throughout
the weeks excitement has been a lack
of currency There was not enough
actual money in the city to stand the
tremendous drain without cutting down
loans. The small banking institutions
thar closed this week have good sup
plies of gilt edged securities in their
vaults but they could neither sell them
nor borrow money on them, simply be-
cause of the scarcity of actual paper
and gold and silver money
Loans Garry Over.
No apprehension is fell today as to
the result Of the days financial trans
actions The stock exchange and banks
will be open for business for only two
hours. and the exchange will not be
troubled by the money situation, as all
loans made yesterday carry over until
Monday under the ordinary rules OF
the exchange. The Trust Company OF
America opened its doors as usual tC
day. There were less than a hundred
depositors in line. Officials declared
The run over.
Little Activity in stocks.
The stock market opened firm anC
higher. but very little activity showed
Leading bankers declared condition.
sues that they will probably be able t
import gold from London Monday =
the extent OF S1O,0OO,OOO. The banker
pool, which las been supporting tn
stock exchange houses. gave ASSN
ances today that money would be prC
vided for call leans when needed.
TIE Terminal bank OF Brooklyn.
small institution with capital of 800
900 and deposits of about half a mi
lion. suspended payment today.
CorteIyou Sees Morgan.
New York. Oct. 26-The closing /
the Terminal bank was due to tlt
fact that its depository, the Williams
burg Trust company, suspended pay
ment Yesterday. Soon after his Il
irving at the subtreasuTy this mOrnh'
Secretary Cortelyou had confererc
with George W. Perkins of J. p. Nh
gan & Co. Perkins subsequently sad
THE atmosphere is East clearing II
as any one can see. think this vi
be The last day of financial difficulty.
TiIImau Gives COrteIyOu Credit.
James Stillman said this moriin
after a conference at the clea in
house: The situation has been save
ny the heroic action of the secre ar
of the treasury who has been so Ibl
assisted by the whole hearted coolert
tion of Morgan"
Still Closed ut PittsburG.
Pittsburg. Oct. 26 There wa Il
session of the stock exchange tada
If the situation continues to imlroN
the exchange will probably ROPE
Monday.
Posts 9O-Day Notice.
Providence, II. l., Oct. 26.-The ndu
trial Trust company posted a 90-dIy II
tice this morning Only few ptrsol
were in line when the doors opened
was generally believed the panic hi
passed At Pawtucket the institution
for savings and the Providence Cou
~ Savings bank continued 10 pay O
10 depositors, but officials express
confidence in their ability to meet
demands.