Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-10-26

company, suspended payment yester-
day The vice president Of the VIII
llamsburg Trust company Willard T.
Reid, was president Of the Terminal
bank.
The clearing house committee was I'm
session this morning for half an hour
and issued a call for a meeting OF the
fun association at - o'clock TO decide
whether clearing house certificates
should be issued.
James T. Woodward, chairman Of the
committee said that the situation to-
day depended largely upon develop
inents among the Brooklyn banks.
THINGS LOOK BETTER.
state supt. Of Banks Clark Williams
said:
Things look a little better. There
is a general tone Of encouragement all
along the line
Directors of the Lincoln Trust COM
pany announced that the bank is In a
position to meet every demand that IL
Is stronger than any previous day this
week and that the withdrawal Of
funds is decreasing
Announcement was made today that
negotiations have practically been COM
pleted for importation OF a large amount
OF gold from Europe.
Money on call was loaned ON the
stock exchange today az so per cent.
Secy. Cortelyou had a conference with
George w. Perkins OF J. +. Morgan g.
Company. Mr.. Perkins subsequently
said:
''The atmosphere Is fast clearing up.
as any one can see.'
Mr.. Perkins was asked II he thought
this would be the last day OF the
financial difficulty. He replied;
II think II is.
James sullman. president Of the Ma
tional City bank. said today
The situation has been saved by the
action OF the secretary Of the treasury
who has been so ably assisted by the
whole hearted corporation OF Mr., Nor
gam
The National city bank today an
nounced the engagement Of &3.500,O0h
gold In London. This engagement was
made on the banks own resources ana
without government aid. IL has no
connection with the South African gold.
which VIII arrive in London on Mon
The drain on the national banks
was considerably relieved today by
the decision Of the savings banks %
require advance notices or lu ge
withdrawals. This put stop 90
heavy disburs smeuts by the savings
banks. which would have been GO M
relied % draw this money nom the
national banks. few Of the smaller
savings banks applied this rule riR-
orously when any considerable nnm-
ler OF their depositors line up 81
the paying teller's window. These
banks told their depositors they
would pay only in small amounts and
10 satisfy urgent needs
The First National bank today NOTE
ned the stock exchange houses On
which 70 had made loans on Friday
at 90 DER cent. that the loans would
Dc continued over All Monday 40 30
There were about 500 dcpositon IN
line al the Lincoln Trust company to-
day awaiting an opportunity lo Wlth-
draw mon 81 Many % Them had
stood in line an night bank mes.
fengcr who headed the ine iu3cd
an onor of $500 ~ his place.
Payments 90 dopositnrs were COM
tlnued throughout tho day
George r. Baker president nf me
National bank. said that no formal
statomcnt regarding the plan io lh-
sue clearing house certificates vii De-
made. Ho said the plan VIII 90 INTO
eject tlday and that no amount hos
been specified. The method NJ Nr
tuance viii be- the Same us mat fol-
lowed in 1898,
There was some waverinE 10
irlcee on the showing of dcncii be-
low the legal reserve, but ~ small
amount httlo more than million
dollars. was REGARDED faVorahly on
consideration ana tie market showed
Resistance 40 depression. There Was
no Increase Ia the ACTIVITY.