The Birmingham age-herald., 1907-10-23

hours today at which a committee, consisting of George w. Young of the Windsor Trust company, Otto Y. Ban nard of the New York Trust company and Clarence II. Keller of the Title Guarantee and Trust company was appointed to confer with the officials of the Knick erb ocker with d view to ex- tending such assistance to that com pany as an investigation of the com psny would warrant.
 The official statement concerning the meeting said that 25 bank presidents of New York and Brooklyn were pres ent and that committee to report on plan of closer cooperation among trust companies was also named.
 Directors Are Confident.
 A. Foster Higgins, who last night was chosen to the presidency of the knieker- booker when Charles Y. Barney resigned, was present at this meeting and laid be- fore the others a statement of the l<niek- erbocker's affairs. He asked aid for. the institution and then withdrew, hursinG away to d meeting of the directors of the knickerbocker. Later he said that the Trust Companies Association wished 10 inspect the KnickerbocKer securities, and that after the committee had done so the association would rcconvene at a late hour up town. President Higgins was not optimistic.
 When the meeting of the directors of the Knckerbocker broke up, Joseph $. Auerbach, a director and counsel for the company gave out the following state ment: "Everything possible has been done by he officers and directors to meet the extraordinary demands on the re- sources of this company, but it can be well understood that no trust company has sufficient liquid assets at all times to meet the demands of greater part of it's deposltors. The directors confident from the statement of the acting super intendent of the banking department, made today. that the resources of the trust company are sufficient to meet all obligations in full
 Asked what he thought the prospects were of the bank opening tomorrow, MT. Auerbach said:
 Ut would be impossible to do 1t unless we receive sufficient resources, and l do not think that these will be on hand by morning"
 Shortly before II o'clock tonight J. Pier pont Morgan. George W. Perkins. George r. Baker. president of the First National bank, and Frank A. Vanderllp, vice pres ident of the National City bank. and A. B. Hepburn, president of the Chase Ma tlonal bank. reached the Manhattan hotel and were immediately taken 10 the apart ments of Secretary Cortelyou.
 Situation Is Better.
 Shortly before midnight MT. Vauderllp. MT Baker and Mr. Hepburn left Secre- tary Cortelyou's apartment and went home. All declined 10 make n statement. One of the cOnferees, who k a member of the clearing house committee, said: Personally. l feel very good about the situation. The clearing house win give aid to those banks In the association that may need il. Such trouble as exists in various places Is directly traeeable to bad management by bad men. We have been trying 10 eliminate such men. Some we nave gotten rid of, and all eventually will go. The National Bank of New Am sterdam will be carried over"
 ''Nill the clearing house issue certlf- cates2' was asked.
 No. that will never be done again.
 Secretary Cortelyou and MT. George Perkins were still in conference at mid night.
 Al meeting of Ae directors of the Hudson Trust comy' x today. the Eesis-