Waterbury evening Democrat., 1907-10-28
WE GET THE GOLD
United States With London and Paris Bidding Against Got
 $5,00O,O0O
THE CERTIFICATE PLAN


 nearly $5,000.000. The price paid was $19.5Q. This is 31a cents high CT than previous quotations, indicat- ing the keenness of the competition Both Paris and London bid against the United States.
 Bankers are Hopeful.
 New York, Oct 2S.-Fortitied by the remedial plans adopted last Satur- day for the protection of New York $ supply of currency, tinanciers began the new business week in a hopeful frame of mind. They were especially encouraged by the precautionary measures taken in other cities, includ- ing the issuance of clearing house certificates at various other centers besides New York, believing that these measures will be effective throughout the nation at large in keeping necessary supplies of cash within the control of the banks for use in carrying on the business of the country. The greatest danger throughout has been the tendency of small depositors' to withdraw their funds from the banks and place them in. safe deposit vaults where they were withdrawn absolutely from cir culation in the channels of trade where they are so badly, needed.
 The importance of gold is expected to assume large proportions and will aid greatly in providing funds for the banks. Up to date the engagements for import amount to $5,0OO,0OO by the National City bank, $2,00O,OO0 by the Chase National bank and $1,5OO,- 900 by Heidelbach, Ichleheimer & Go. About $5,O00,O0O in gold probably will be offered in the open market in Lon don to-day and it is hoped that the United States will secure the larger proportion of it.
 American securities in London showed sharp advances at 1 p. m. to- day. Amalgamated Copper advan- ced 1 F, Atchison 1 7-S; Union Pacific 1A and other shares were fraction ally higher.
 Lines of depositors remained in front of the doors of the Lincoln Trust company and the Trust Com pany of America. despite the heavy rain which fell throughout the night. The all-night line at the Lincoln Trust company numbered eighty per sons and forty-five were waiting their turn at the Trust Company of America.
 Three persons remained in line all night in front of the Riverside bank, q small state institution at Eighth avenue and 57th street At 9 o'clock the line in front of this bank num- bered thirty-five persons.
 One of the most important ques- tiGns to be decided by the clearing house today was whether or not to admit the trust companies to mem- bership ill the clearing house and a share in the advantage to be de- rived from the privilege of issuing clearing house certificates. The only opposition known to have been made to this plan was based on the fact that the trust companies are required by law to maintain a reserve of only fifteen per. cent of their deposits while the national banks are required to hold reserve of twenty-five per cent. Some of the bankers contend that this disparity in legal reserve re- quirements will give the trust com panies an advantage over the banks if they were admitted to the clearing house and given the full support of the banks.
 The Lincoln Trust Go and the Trust Co of America opened for business this morning as usual. The lines of waiting depositors were much smaller than at the opening hour of Saturday. At the latter in- stitution fifty persons were in line.
 At the Northern bank, state in- stitution, at 693 Broadway, there were sixty persons in line at the opening hour.
 The stock market opened higher. American Smelting rose points, Atchison 1 and Mortimer Pacific 1.
 Very light transactions were re- ,orded at the opening. Some of the stocks in the inactive class sold at declines. Business came almost to ! standstill after a few minutes, but he market retained a steady tone.
 Additions to the sharp advances were made when stocks were traded n, but the general level of the active ist did not extend it's advance. St Louis Southwestern pfd rose A. IT. inois Central and Consolidated Gas }. Great Northern Ore certificates md Manhattan 2lk. and National Iead and General Electric 2. There were isolated declines on single sales n the inactive list, American Agri- Chemical pfd selling at a lecline of 7A and Pacific Coast IF. There WIS very slight activity n the market.
 Lazard Fre-es engaged s1,500.- 100 in gold for import from London o-day. This makes s1I.000.0OO in old engaged for importation since ast Friday.
 Lazard Freres subsequently, in reased their engagement of gold made to-day to s2.OOO.0e. This makes a total of S11.500, 900 en- aged for importation since the im- ort movement began last week
 The loan committee of the clear ag house oo-operated with the mem CTS of the clearing house in the is usuos of clearing house certificates s they were required
 Debit balances reported by the z1ks at the clearing house to-day rere snail and the collateral of cred in pledge of certificates vas e1erzIlT acceptable
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