The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1907-10-24

aoquently appeared 70 have peet. r. r.
j INSURED,
,rr,,a rompnns is Stable.
.Another potent factor In bringing
about n bette feeling and thc return
1of saner continent and improved con'
fidcncc was the ability Of the Trust
Company OF America TO withstand mn
nIl-day ran, MS 1t successfully did, III
the fpre OF enormous withdrawals the
officials OF the bank proclaimed tnelr
readiness TO settle with al depositors
an demand, Even for q few minutes
after the regular hourfof Closing we
company continued to pay out money
at its main office In wall street anu
ait the broadway branch, and 70 GER
tify all checks presented Then 1t was
announced that tho institution would
be opan as usual at 1880 o'clock to-
morrow morning prepared for an
eventualities. SO marked was the
strength, of the bank THAT many VINO
Withdrew deposits early In the DAY
again deposited them beforc tho doorp
closed. The total resources OF me
company as last reported were in eN-
cess of s70,OO0,000, Several millions
were withdrawn to-day but funds to
satisfy every claim were said 10 pc
ut hand.
This was the only rnr5of importance
to-day, and this fact was an eheouras-
ing feature. The deposilofs ~ 'ne
Dollar Savings Bank in TIE Bronx, OF
which Borough President john Hniieh
is the head became uneasy over the
decentralization, many clanlorlhg Tor
their money under the impression that
their deposits were in Jeopardy. Ihesc
depositors were chiefly foreigners. VINO
had confused the run of yesterday on
the Knickerbocker Trust Company
Bronx branch with their own institu-
ton. officials of the latter institution
oxnlained matters. and the run, for
which there was absolutely no excuse,
ended at once. This furry over, things
looked still better, rs the uninformed
element among depositors was regarded
as hard to control in times OF general
excitement.
Clearing House Report Favorable.
The clearing house report was also
favorable to-day. Apparently the ma
tional banks have passed the crisis, and
those which have required assistance
gnve evidence to-day OF being able 10
take caro- of themselves,
Another favorable Development to-
day was n sorttof tacit understanding
n,nong the banks and the members OF
the Stock Exchange TO aid each others
hanks by looming money At something
like normal rates. and the traders by
preventing the bottom dropping out OF
prices on the exchange.
Though call money ruled norninallyI
at 10 per cent. throughout the day,
several of the biggest banks renewed
loans at G per cent, and millions We're
let out at half the interest rate tmt
might have been squeezed from des-
perate borrowers. Then. too, minor in
fluonces. making for confidence were
at work. Taken as IA whole, therefore.
the day passed much letter than had
been expected. and the promise for
Tomorrow is for a quiet and better
day all round.
Fifteen bank examiners were busy
here to-day, and their frequent re-
ports We're said to be favorable. The
announcement from Albany Tonight
,nf tho appointment by Governor
Hughes of Clarke Williams. of this
cts. as State Superintendent of Banks,
was received with favor, ana is view
ed as a timely act by the Governor
Acting Superintendent Sinner had been
filling in since the resignation of SUI.
perintendent Mott,
Hold Midnight Conference.
AT I2:2o o'clock Mr. J. Pierpont Nor
gan and James Stplman, president OF
The National City Bank. made o hur-
iied call upon Secretary of the Treas
nry Cortelyou at the Manhattan Hotel.
Mr.. Morgan dcclinad 10 say anything
regarding his visit 10 Mr. Cortelyou
or to discuss the financial situation in
any way.
President oakleIgh Thorne. OF the
Trust Company OF America, announced
at midnight that his company. would
open for business at the usual hour to-
morrow with ample funds TO meet all
claims.
Joseph $. Anerbach, of counsel for
tie Knickerbocl<er Trust Company,
announced at II late hour to-night that
negotiations were under way looking
to an early resumption of business by
the Knickerbocker.