Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1907-10-24

| this morning that if this report bore out
| statements made by officers of the insti-
tuition Tuesday night verbally as to its
condition, aid would be extended i'll what
| ever situation may be required to pay off
| the depositors who demand their money.
| Every preparation was made by the
| Trust Co. of America to meet any I'M
usual rush, and it was announced that
| three paving tellers would be on duty at
| 10 o'clock The crowd in front of the
| Wall street office of the Trust Co. of
! America grew steadily and at $50 it was
/ estimated to number about $50 persons.
| The Knicke rbocker Trust Co. also WAS
! surrounded by a constantly increasing
! number of persons who We're waiting in
| the hope that the institution would open
/! Wednesday.
! At the Colonial branch of the Trust Co.
| of America in the st. Paul building on
! Broadway more than 100 persons were in
! line shortly before 10 o'clock waiting for
| the doors to open.
! Secretary of the Treasury Cortelyou ar
! rived at the SUI treasury at $40 A. NJ.
| Wednesday, and announced that he would
make his headquarters there for the day.
italian dcnositorS who started a run
on tho Dollar Savings Bank in tho
| ,;ronx were waiting ut til" doors of that
| institution To the number OF loo, before
|tnc bank opened for business. NNcdnt s.
| day. The Dollar Savings Bank is rear
| by the Bronx branch of the J<nickker-
| booker Trust co. and the Italians 10
| ,I.,- Inv
co.'s branch
| The crowd in front Of the Trust Co.
Of America grew rapidly and before
| opening numbered 300.
| Secretary CGrtclyou :sp:d W.dest!a Y
| morning:
! Il have nothing to add to my state
| m"nt Of Tuesday night. | will be hero
J Throughout the dav and az lon;; as the
| situation seems 10 need my presence"
| Srnt. of Banks Skinner took pos
| session of thu e6 Broadway branch Of
| flee of the Enickerbocller Trust Go
| "Wednesday morning. Mr.. Skinner said
| there would he no further resumption
Of business by the Knickcrboc,.cr
Trust Co. until he has thoroughly IL
vestigated its condition.
| Announcement was made Wednesday,
| that Oallleigh Thorne. president Of the
| Trust 60. of America. has sold control
of tn" Central Georgia which he pur-
! chased Jointly With Marsden J. PER-.
last July. Mr.. Thornc declined to say
| to whom the railroad had been sCl.
| He denied that the road had been sold
to the Rock Island interests.
| Westinghouse Electric sold down to g.
ut thc New York stock EXCHANGE n de-
| elm" # 1875 from Tuesday night
| The corridors of ~" office of til" Trust
60. OF America We're crowded hy Il
| tlfr"n@ Of Co persons when the hour
! for lcginnng business arrived. Pres
| Thorn" then said he hoped to meet all
| demands unle5 sth" 4 .i'oS;tors came in
| too large numbers. lie said the com
panv had not asked for assistaHcc
| The scenes about til" Offices % IT,
| NnickcrhoChcr Trust 80. Wednesday,
Indicated tn" alarm felt ~ IL" public
| \ line Of -, r"re"ns extended for al
| rr"st 4 block from the main Office along
Bah street when ? police captain AN
| nounc"d in tn" corridor that tn" Off
Gals had decided to make no payments
| "Wednesday. About 100 of tn" dcp"si-
tors departed. Eut at least 40 still wait
ed in limo.
Their wcr" i'a h"r"*it"r+ waitir.; t
III" Harlem branch If tho !ln"l<rr
! booker and tGnn spectators, IratChinc
them when IT," news rn,nc I'll there
would I've no Payments. \ state bark
IeNlnlincr hld difficulty in getting into
the office.
III" 'l"arin:- II"use commtt"" was
iii conference With several bankers at
1879, After taking charge of tn" Knick-
crboc!,"r Trust CO.. Acting s;uprrin-
tCnient o. Banks; skinner said
! 'tnder advice' of the attorney gen
eral I have taken possession Of the
| khickerpocker Trust Co and lis
branch offices. The support to tn" in
solution which WAS expected Tuesday
has not been furnish d. \ bank ex-
aminer Is IN charge of each office. Pay
rents will be received on obligations
due to III" Trust c.. but no raymcnt
will I've made BY the examiner in
charge. Payments should be in cash.
Collateral will not be surrendered un-
til it is shown that it is not pledged
for other Indebtedness to the institu-
, too.
report Was started that there was
a run upon the Morton Trust Co, but
an investigation showed it to be IN
! true. IN Associated Press representa-
/ tive who has just come from there re-
ports that three depositors were there
| IN the Trust Co. at the moment \
thorough examination Of the Trust
Cos. finances made in the last "a hours
SHOWS that it has over 20 per cent
, cash.
James G. Cannon. vice president OF
. the Fourth National Bank. and a mem
- - - Cl~~'.;',~. H. ca---~,...
: appointed to examine the national
'-:i-Ns 'A!>iI haze ~, ii una, { c..,lc.:l.r
announced today that Tie con ;tio:l 81