New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-10-22
Of the firm of Rogers & Gould, bankers ant
brokers' OF No II Broadway.
INTERESTS Of A. FOSTER HIGGINS.

INTERESTS Of A. FOSTER HIGGINS.
| A. Foster Higgins, who succeeds Mr.. Barney
! as president OF the Knickerbocker Trust Com
pany. is officer or director in number Of
companies, including. besides the trust company
the Knickerbocker Safe Deposit Company, the
International Metal Company and the Croker
Wheeler Company. He Is president. treasurer
and director OF the Mexican Northern Railway
Company. vice-president and director OF the
Potosi & Rio Verde Railway Company and vice
president director of the following mining
companies FresnilIo Mining Company Som
brereti Mining Company Tezntlan Copper Com
pany and Tezintlan Copper Mining and Smelling
Company. He is also director in the Mexican
Lead Company, Montezufna Lead Company,
Mexican ore Company and second vce-president
and director of Compania Metalurgica Mexicana.
NO FAILURES EXPECTED.
No failures of financial institutions occurred
and none are now looked for. Two banks were
helped by the Clearing House institutions. Sew
eral changes took place in the directories and
official STATS of banks of the so-called Morse
HeInze- Thomas group. The improvement in the
banking situation was strikingly reflected in the
stock market, which buoyant. handsome net
advances being enjoyed by practically all of the
active issues.
assistance 10 the total amount of about $1,000
900 to the Mercantile and New Amsterdam Ma
tional banks, the latter getting only about
100000 and the former about S1.9O0.OOO. The
Afercantiles debit balance at the Clearing House
yesterday was 81 9O3 coo; that of the New Am
sterdan National Bank was S2ooVO; NatlonaI
Bank of North America, $4,000 and the Me-
chanics and Traders Bank, $4,000. 1t was
the third day on which help had been given the
Mercantile National Bank. and strong hint
has been given the management by the Clearing
House Committee, it is understood, that the
bank must soon rely more upon its
sources.
The sum of Sl0OO0OO0 has been pledged by
about twenty-five Clearing House banks for use
as may be necessary in aiding institutions which
may need assistance. The amount required each
day is furnished pro rata by the subscribing
banks. in proportion to the amounts Of their
several subscriptions to the fund
Following the conference of Clearing House
bankers on Sunday. at which this fund was
ranged for. it learned yesterday, the bank
ers proceeded to the home Of ]. Pierpont Nor
gan, where another long conference held,
at which 1t is understood arrangements were
made for supporting the stock market
The National Bank of North America yester-
day called in about S1,750,OOO OF loans. thus
Strengthening materially its position. ana IS not
expected TO be obliged to ask for any assistance.
NO STATE ACTIVITY.
A. G. Judson. State Bank Examiner said;
There were no examinations Of banks or trust
companies to-day other than those for which
commissions were issued to us a week or two
ago We know the condition Of all the state in
situations and we know what collateral they
have We not in any OF the Morse banks
now"
"A bank president told me-" said one Of the
reporters with whom Mr. Judson was talking,
that collateral was pledged in certain banks
for more than Its market value"
THAT is a ridiculous statement for bank
president 10 make" replied Mr.. JudsOn.
President Seth NJ Milliken and Vice-Presl-
dents Garrish II. Afilliken and William skinner,
the newly elected officers of the Mercantile Ma
tional Bank. early at their desks yester-
DAY morning and seemed to bring with
them into the bank offices decided feeling of
confidence and strength. Miles NJ. O'Brien. who
still continues as q vice-presdent and director
OF the bank. was also hard at work.
y meeting of the directors held at an
early hour. at which the designations of
F. Augustus Heinze. Edward r. Thomas,
Orlando F. Thomas Charles ". Morse,
Max H. Schultze, Stanley Clifford and Ches-
ter Glass were accepted This completes
the elimination from the banks directorate Of
all the Henze- se-Thomas element except
Arthur p Heinze. Harry f. Morse and Miles
N. O'Bren. The first two named in Europe
and will be asked to resign as soon as they can
be reached. Mr. OBren, already stated,
will continue with the bank The designations
Of all tho other directors are in the hands Of
President Milliken and he will accept them as
he finds men suitable in his opinion to fill their
places
NEW MERCANTILE DIRECTORS.
The following FIVE new directors were then
elected: George II. Sargent, James z. Nichols,
r w. Woolworth Charles T. Perkins and II.
A. Hatch Mr.. Sargent is member OF Sargent
& Co., hardware dealers at No. 151 Leonard
street. Mr.. Nichols is a partner in Austin,
Nichols & Co, wholesale grocers at No. 81
Hudson street. Mr.. Woolworth is the proprietor
Of the well known five and ten cent" stores all
over the city. Mr.. Perkins is a retired dry
goods merchant who lives IN Brooklyn. He is
Q trustee of the Kings County Trust Company.
Mr. Hatch is a son-in-law Of President Mliken
and member Of the firm Of Deering Miken
& Co., cotton factors. President Milliken an
nounced that ne would have several other
directors TO announce to-day. He said that the
bank had, not including the Morse-H einze ac-
counts, enough to pay in assets 81 40 for every
dollar of it's liabilities, and that the loans under
question of value.
Vice-President Skinner said tina: several de-
posts Of $4,000 each had been made in the
bank during the day and that the old depositors
who had withdrawn money were bringing It
back at rapid rate He said he wanted to
plain how it happened that he had been classed
as New York. New Haven & Hartford Rail-
road man. His home, he said. in Holyoke
Mass" and he lived only for few months in
the winter in New York This fact, he said.