Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-10-25
BANKS STAND FIRM;
CRISIS IS PASSING
Run Still Continues on Some
Institutions.
ONE PAID OUT S19,OOO,OOO
Took in $1,OOO,oOO in Deposits at
the Same Time.
FOUR MINOR FAILURES TODAY
One Trust Company Also in Trouble.
but the Worst Is Now Be
lieved to Be Over.
ONE PAID OUT S19,OOO,OOO
FOUR MINOR FAILURES TODAY

Relief was felt in every quarter
of the New York financial world
today when it became apparent
that the measures adopted to pro-
tect the banks and trust companies
by the financiers' committee were
having a strong effect in the re-
storing of public confidence. 1t
was freely stated by some of the
best-known bankers in the city be-
fore business hours this morning
that the critical period had passed.
the situation was we'll in hand and
that Improvement from now ON
should be rapid. Secretary Cortel-
you arrived at the subtreasurv at
80 o'clock. He said that every
thing looked bright and that the
situation was very hopeful. When
questioned as to how he regarded
the financial situation today ]. P.
Morgan said: "If people will keep
their money in the banks every
thing will be all right"
Special Dispatch to The Star.
NEW YORK, October 25.-The officers
of the Trust Company of America and of
the Lincoln Trust Company, where runs
have been in progress for two days, were
prepared again this morning to meet all
comers wishing to withdraw their de-
posits. The hrst-named institution had
already passed through what financiers
said was the biggest run on an institu-
tion's resources since 1873. It was esti-
mated that when its doors were closed at
the end of the business day yesterday
s19.000.O 900 had been paid out 1t has been
said that the amount of deposits payable
on demand on Wednesday morning was
S25. 600. 900. So this left 100000 to be
drawn upon this morning if every person
holding such an account should take ad-
vantage of his privilege.
1t was considered by no means prob
able, however, that anything like the
total deposits on demand would be taken
out, and there was every indication as
we'll that new deposits would be heavy.
Even during the heavy run of yesterday
S1.0O0 600 was deposited
President Oakleigh Thorne was as
cheerful as ever this morning in his as
surances that the trust company would
meet all demands. He had nothing to add
to his remarks of last night when he
said:
Eve have met all demands made upon
us for two days; We have stood the
most determined run on a banking
institution that 1 have ever known
anything about. and we shall be open
for business in the morning The in
stitution speaks for itself. 1t doesn't
require anybody to speak for it,
Keep Night Vigil.
AT the offices of the Lincoln Trust
Company. 9TH avenue between 10Th and
26th streets, where ST,00O,0O0 has been
paid out since the run began, the of
fcers gave the same assurance-that
they We're fully able TO meet any de-
mands that might be made upon them.
In spite of the assurances from the
institutions, the timid ones were not
deferred from keeping up their night
and early morning vigiis. Crowds form
ed early this morning at the main Office
of the Trust Company of America, at
81 Wall street, and at its Colonial
branch, in the st. Paul building. When
the early office -goers poured into Wall
street from Broadway between 7 and
1880 o'clock they found a line of 12J
depositors already reaching the doors
OF the trust companys big building
down TO William street. The fifteen
men at the head of this line had been
there all night. The leader of the file
got to his position at $50 o'clock last
night. The second in line was a boy
in knickerbockers, who had been keep
ing a place for representative of the
Pacific Bank ever since O'clock last
night Another representative from
the Pacific Bank headed the line at
the Colonial branch.
Two young women arrived on the scene
at 3 o'clock and another woman made
her appearance at +.
At o'clock Herman Gordon of ~ 1st
avenue, one of those in line, proposed a
scheme which was adopted with much
enthusiasm and hiliarity by his shivering
companions Gordon elected himself
president-secretary and general high d.
rector of an organization which he styled
the Depositors' Relief Association Each
one who joined received a number Wher
any mber felt his legs about to give
out from under him discovered that
there was cavity in his stomach that
required plugging he was at liberty to
leave the line without placing his posi-
tion in jeopardy. When he returned he
took his former place. The scheme worked
satisfactorily and the few disgruntle6
ones were AT last obliged to join the as
ISOLATION.
Lines Are Timing.
A Sipple of excitement was produced a,
6 o'clock. when enormous truck droy,
up with safe so big that it seemed pos
sfbie that about 100000 pennies coule
be stacked comfortably within. The safs
was taken into the banks basement
and caused no little speculation anon.
the ninety-five depositors in line.