New-York tribune., 1907-10-24
CONFIDENCE at LARGE.
TROUBLE PURELY LOCAL..
bankers Over the Couatry Report
Unaffected Finances.

paperis from all parts of the country yester-
81. we're most reassuring, setting at rest any
-. .ba, tie present financial troubles in New
- are other than local Bankers were a
~ - voicins the soundness of conditions in
rbeir ucigahorhoods,
F-en n nearby cities like Philadelphia and
pos-o, rae stocl. markets showed little or no
,,-r,-at, e,ic decline with New York and bank
ers spoke hopefully OF the situation here.
on The Pacific Coast and in the Northwest, as
., ether parts OF the country, conditions were
unaffected. and bankers felt absolutely no fear
that the present financial stress here is or will
become other than purely local disturbance.
BOSTON BANKERS HOPEFUL
Boston. oct 23-The local financial situation
,vas still mistaken to-day by the upheaval in
Nev York. beyond fractional declines in some
stocks in sympathy with the New York list.
I,arng the late hours of the day Boston bank
ers spoke more hopefully of the outlook in
New York. Boston brokerage houses were
crowded all day. ard il was said that many
meu wHo have not been in the market for
wears gave numerous buying orders.
The money market IN this city showed no
tendency Of becoming exceptionally stringent
and rates between banks remained at per
cent Call and time money was a trifie higher.
Loans, however, were sharply curtailed.
Major Henry /. Higginson, a leading banker
says regarding the financial situation:
Il have not heard OF a Boston bank that is
expecting the slightest trouble. We are right
in the midst now of a panic worse than the
panic of 1898, 50 far as the stock market ia
concerned. II has lasted longer. I look to
see il affect industrial conditions. 1t may not
go 10 the extremes Of hard times. but I look
10 see. and I hope TO see, business dull and
times slack There is not enough money to
carry on business n The country at the rate
il IS progressing to-day. The amount of money
ard the amount Of business must be equalized
no matter how painful the process il we want
TIE financial conditions Strengthened out"
NEVER BETTER" IN PHILADELPHIA.
Philadelphia. Oct 23-Bankers of prominence
IN this city said to-day that the financial
troubles in New York have in way affected
the banks and trust companies Of Philadelphia.
The condition Of the financial institutions here
was never better, it is asserted, and no alarm is
celt IN any quarter. Benjamin Citizens, presi-
dent of the Corn Exchange National Bank, said
to-day:
The institutions in this city have not been
affected by the trouble in New York. The
banking interests here will Go all they can to
aid legitimate business propositions, but are not
ways discouraged.
OF course, at the present time we may be
perhaps little more rigid in our conservatism
than we were before, and the banks are advising
their customers against expansion 1 think 1
voice the sentiment Of others besides myself
when l say that the condition OF philadelphia
financial Institutions was never better"
NO UNEASINESS IN CHICAGO
Chicago, oct. 23-Bankers in this city de-
CARED after the close Of business to-day that no
uneasness regarding the local financial situa-
ton prevailed here. None of the banks here is
tied up with Wall Street interests, and none
has been lending money to any extent upon
he securities that have heavily declined in
the last ten days. The situation in this city Is
said by such men John J. Mitchell president
OF the Illinois Trust and Savings Bank and by
President Forgan Of the First National Bank 10
be entirely satisfactory in every respect.
NO EFFECT N CINCINNATI
Cincinnati, Oct. 23-The New York financial
situation is regarded as local TO that city by
Cincinnati bankers. President Hinsch of the
Fifth National said that the New York situa-
ton VIII have effect in Cincinnati whatever"
Similar expressions were heard from other bank
ers. There are deposits Of more than 100000
0@ in the fifteen national banks in this city.