The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-10-25

strongest hands in the financial world
Interests that have stood aside Tor many
months watching the decline are now
busy buying bargains They do net
hesitate TO say that these stocks Will be
for sale should the market advance, be-
cause the purchasers are taking aboard
an abnormal volume OF securities
But the fact that they are willing to
take up this lead even temporarily Is
EeaSsurlng-
The banks of importance are finding
themselves supplied with an abundance
OF cash. 1t viii be no calamity IN the
Wall Street view II few hundred small
banks disappear from the horizon per
manently, and the big people are sha.l-
ing things so that depOsitOrs even IN
these small banks viii get all or thelr
money back.
Standard Advanced.
No particular stock distinguished IT.
self today but the standard issues were
used TO influence sentiment and they
advanced from 1 TO points.
Wheat was also advanced about .
cents a bUshel. and cotton was per
mitted to sink lower
responsible bankers said they looked
for no further panic just now on that
me United States Exchange Bank,
Nos. % and % West 125th street, posted
a notice before banking hours began,
announcing its temporary suspension. 4
large crowd gathered III 'front.' or the
bank, and the officers telephoned 10
police headquarters for protection,
fearing a hostile demonstration. Inc
Borough Bank, of Brooklyn, also
printed notice OF suspension
The notice posted at the United
States Exchange Bank was as FOL
lows:
IN consequence of the closing Of
D M
for cash. we have decided to remain
closed to-day. The bank is perfectly
solvent, but these are extraordinary
times, and we have TO resort TO extra
ordinary measures to protect ourselves
and our deposltors.
JAMES J. O'SHAUGHNEsSEY,
Cashier"
Nearly 100000 Deposits.
The United States Exchange Bank is
capitalized at Sl0O,O 900 and has a surplus
and profits of $S7,170. Individual de-
posts amount to sSSO970 The Mercau-
tile National Bank and the Bowling
Green Trust Company. in this city, and
the New York State National Bank Of
Albany are its principal correspondents.
The president Of the bank is John j.
Gibbons.
At the regular hour for opening this
notice was pasted on one of the win
dows Of the bank:
Pursuant to the authority conferred
on me by section 6l9 of the laws Of
1882, 1 have taken charge of the United
States Exchange Bank
CLARK WILLIAMSON.
state Bank Examiner.
"A. p. Campbell, examiner in charge"
Borough Bank Closes.
The last report Of the Borough Bank
Of Brooklyn. which also posted a notice
of temporary suspension, gave It a capt.
tai Of 10000, with a surplus of S5O,O0O.
The loans We're given at s., 65O.0 900, with
deposits Of $4,000. The undivided
profits were $4,000.
Another Brooklyn Bank Closed.
The third was the Brooklyn Bank.
with a branch at Col Fulton streex,
Brooklyn. Both Brooklyn banks are
controlled By the International Trust
Company OF New York, which also
holds the majority OF stock Of several
other Brooklyn Institutions No state
ment has yet been given out in regard
10 the Brooklyn Bank, bat an official OF
the Borough Bank announced that the
public would be informed as to the de-
tails.
The three banks which suspended yes
terday remained closed today. They are
the Hamilton, the Twelfth Ward. and
the Empire Savings. All are declared
To be perfectly solvent, and there is no
probability Of ultimate loss on de-
positors.