Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1907-10-26
SECRETARY coRTELYou REAF.
FIRMS FORMER EXPRESSIONS
THAT MATTERS SHOWING
STEADY IMPROVEMENT.
MORGAN'S FINANCIAL
AID TURNS TABLES
DRAMATIC ENTRANCE OF. FINAN-
cIER VIII CASH AT CRITICAL
MOMENT BRINGS A RETURN OF
CONFIDENCE.

New York, Got. 25.-Secretary
Cortelyou said this morning:
There is nothing to say on the
situation now, except to reaff1rm
my former expressions Of the be-
lief that matters are steadily i'm
proving"
The American Trust company and
the Lincoln Trust company resumed
payment to their depositors as usual
today. All the members of the stock
exchange made their daily settlements
OF accounts as usual to the clearing
house. The stock market opened ir.
regular, gains predominating but a
reaction followed opening gains.
average level Of the market falling be-
low last nights close. A steadying
tendency soon developed, however
The run upon the Trust Company of
America has about spent It's force
The officers Of the bank have now suf-
nc1ent resources to meet any demand.
The dealings in stocks was not ac-
tive and the general list moved for
ward rather narrowly Individual Sc
eurittes. however, reacted sfeyerishly.
Small Concerns Close.
Cash amounting to $4.3O0,000 was
sent to the Trust company Of America
this morning through the sub-trea-
sury.
The international Trust company,
small and inconspicious trust con-
cern closed it's doors at 10:45 o'clock.
This company had business connec-
tion with the Borough bank of Brook
lyn.
The Brooklyn bank at Fulton and
Clinton streets, Brooklyn, did not
open for business today. The bank
has capital Of 100000 and owes It's
depos1tors million and half.
The United States Exchange bank,
located in Harlem, wouldn't open for
business today. The bank has half
million on deposit It did an fncon-
spicious business.
The Borough bank of BROOKLYN.
state" with a capital Of 100000 and
deposits of about 100000 didn't open
for business today. The business was
not very large and no prominent A.
nancfers were connected with It.
Brooklyn National suspends.
New York, Oct. 25.-The First Ma
tional bank of Brooklyn, with a capi-
tai OF 100000, suspended payment to-
day 1t owes depositors $4,2b0,OO0. The
failure of Gregory ,Gulick & Co., mem
bers Of the consolidated stock ex-
change, was announced this afternoon.
Ihis failure is unimportant
Williamsburg Trust Co. Closes Doors.
The Williamsburg Trust Company,
Brooklyn, with a capital of $500, 900,
temporarily closed its doors this lft-
ernoon. The company owes depositors
S7,5OOO00
Baltimore House suspends.
Baltimore Nd 0cf
on the savings department of the East
Branch of the Home Bank continued
this morning. The bank has taken
advantage Of the go days notice pro-
vision. The depositors nearly all IRE
foreigners of the more ignorant class.
Providence Trust Company Closed.
Providence. R. l., Oct. 25.-Posted on
the doors of the Union Trust company,
on which there was a run yesterday,
this morning, was the following:
This bank will not open today ow-
ing to the stringency in the money
market"
Cornelius A. sweetland was appoint
ed receiver
Wants go Days Notice.
Providence, R. l., Oct 25.-The New
england Trust company posted a no.
tice today requiring 80 days notice of
withdrawal Of deposits.
Pittaburg Exchange Closes.
Plttsburg. Oct. 25.-The stock ex-
change remained closed today.
Branch Closes Doors.
Central Falls. R. l., Oct 25.-The
Sntral Falls Branch of the Union
Trust company Of Providence closed
its doors this morning. A large crowd
was about the Institution.
Another Branch House Closes.
East Greenwich. R. l., Oct. 25-The
East Greenwich Branch of the Union
Trust company of Providence didn't
open its doors this morning.
Morgan to the Rescue.
The transition from financial alarm
snd unrest to confidence and tranquil.
.,tsy was completed yesterday by a
dramatic demonstration of money
power in New York. Before the close
Of the business day the situation that
had involved the city banks and trust
companies and the stock market had
cleared and there had been a mark
ed advance toward normal conditions
The day opened threateaingly with
the suspension of two New York state
banks of minor Importance, the decis-
ion of savings bank to defer pay
n1ents and continued heavy runs on
the Trust company Of America and /.
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