The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-10-22
STOPS PAYMENT.
KnickerbOcker Trust Company
Closed Up at IL 80.
Officials Declared Suspension
Was Only Temporary.
CLAMOR FOR MONEY.
DepOsitOrs Refuse to Leave the
Building Until Forced.
The Concern Had $6O,OOO,OOO
i'm Deposits.
CORTELYOU TO HELP.
Will Help Out N. Y. City
National Bank.
Call Money Went Up to 60.
Per Cent.
Refuse to Leave the
Building Until Forced.
The Concern Had $6O,OOO,OOO
i'm Deposits.
CORTELYOU TO HELP.
viii Help Out N. Y. City
National Bank.
Call Money Went Up to 60
Per Cent.

New York, Oct. 22.-The Knicker-
booker Trust company. the second
largest trust company in New York
city, with deposits amounting to about
$50, 100000, closed its doors at 1890
afternoon, following steady run OF
persons who called to withdraw their
deposits. The company officials de-
clared that the suspension of payment
was only temporary.
The closing of the doros of the insti-
tuition was attended with sensational
scenes at its main banking room and
the Harlem branch. Depositors who
crowded the rooms clamoring for their
money were insiStent that they be per-
mitted to withdraw even a few dollars,
and when this request was refused
many refused to leave the building.
Police assistance was necessary to pre-
serve order. At the main office, Fifth
and Thirty-fourth street, after the doors
were closed the crowd surged its way
Inward. The police forced them back
to the street again and from that time
a guard was kept in front of the en-
trance.
The stock market was very weak
and declined sharply in spite of early
efforts made to support prices.
Secretary of the Treasury Cortelyou
announced from Washington that he
would support the New York City Ma
tional bank and it was understood that
he would order the deposit of six mill
lions Of government funds in this city
as soon as satisfactory security for the
sum could be received
At 1885 the stock market was in
another violent slump, Union Pacific
selling at 110, a loss of IN; READING
at 1sA. a loss OF points; ST PAU at
1O7, loss of 6 u points. At that hour
call money was so per cent.
At 1:50 p. m. call money was lend
ing at SO per cent.
Officers q KDi0lxerho0L-aT
company said that the company had
paid out between $1,000, 900 and So 0OO,-
900 to depositors today.
Mayer & Co. Fail.
New York. Oct. 22.-The failure of
Mayer & Co. was announced on the
stock exchange at 2:5O this afternoon.
1t is not an important firm.
CorteIyou Won't Say.
Washington, Oct. 22.-When Sec
retary Cortelyou was questioned today
as to his intentions with respect to the
financial situation in New York, he
said he was not prepared to make any
statement. 1t is known, however, that
the secretary stands ready to meet
any situation that may develop and
that he is in position to do this.
While it is believed that some ac-
ton is being taken by the treasury
department in the matter of making
deposits of government funds to ma
uonal banks to meet the presen,
emergency in New York, Secretary
Cortelyou refused to discuss the SUBJ
1ect in any way. Mr.. Cortelyou said
that not only would he not make any
statement at this time but would nor
discuss with any one the matter of de-
posits.
1t is understood that Secretary Cor
telyou has ordered $67,O00,OOO dis
tributed among the leading national
banks of New York.
Acting upon advices from New
York, regarding the financial situation
there, Secretary Cortelyou will leave
for New York at o'clock this after
noon