Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1907-10-25
Conditions Declared to Be I'm
proved i'll New York anil Panic
is Practically Over
BOROUGH BANK is CLOSED.
Minor Institution suspends Payment
Runs Continue on tho Trust Com
pany Of America and the Lincoln
Payments to Depositors Met Cheer
fu,Iy-Providence Bank Closed.

New York, Oct 25.--A much caimer
tone was apparent in business circles
this morning. The success OF the re-
lief measures undertaken yesterday by
j. p. Morgan, John d. Rockefeller and
other prominent financiers, together
with the serenity with which the Of
ticials of the Trust Company of Amer
lea met the run of depositors on that
institution, gave, great encouragement
to bankers, and business men general
ly that no further trouble was to be
feared
Last night passed without any series
of conferences between bankers, which
were held Tuesday and Wednesday
nights, except for the informal affair at
Morgan's house. What transpired at
that meeting has not been learned
Announcement was made this morn
ing that the United States Exchange
bank, located in Harlem, would not
open for business today. The bank has
Only Il llllle iuolS liidil q AiSAAA 'iAA'A-oN,
on deposit, and did an inconspicuous
business.
Runs Continue.
There were lines of depositors wait
ing in front of the Trust Company OF
America and the Lincoln Trust Com
pany when those institutions opened
for business this morning. Some OF
those in line at the America building
had been there all night. At the head
of the line was a woman who declined
to leave her place even when the man
next to her promised to restore it 70
her this morning. She suffered consid-
erably from the cold night air.
The first advices from London today
were very encouraging. American
stocks there opening from to
points higher.
The Trust Company of America and
the Lincoln Trust Company resumed
payment to their depositors as usual
today. All members of the stock ex-
change made their daily settlements of
accounts as usual to the clearing
house.
Secretary Cortelyou said this morn
ing: There Is nothing new on the
situation now, except to reaffirm my
former expressions of belief that mat
ters are steadily improving"
Run About Over.
1t developed this morning that con-
siderable number of those in line at
the Trust Company Of America and the
Lincoln Trust Company were not de-
positors but persons who had taken
places in the line in the hope Of SELL
ing their favorable positions to deposit
tors who would be willing to pay for
a forward place. Wherever possible
these persons were removed from the
line by the police.
The run upon the Trust Company of
America has about spent its force and
the officers Of the bank have now suf-
ficient resources to meet any demand.
Cash amounting to $4,300,000 Was
sent to the Trust Company of Ameri-
ga this morning thru the sub treasury.
The secretary of the treasury is con-
tinuing to give financial assistance in
q large way. The department in doing
possible to alley apprehen-
sion and another large supply of small
bills is being rushed to New York from
The statement as made
oy the sub-treasury today shows the
local banks gained $28,705,O00 from the
during the week. This
in large part the deposit
Of government funds made with New
York banks. The large loans made by
J. P. Morgan & Co, and their associ-
ates to stock brokers yesterday when
LIo i
lewed today at 20 per cent.
Small Concerns Suspend.
The International Trust Company, a
small and inconspicuous trust con-
Germ, closed it's doors at 1O:40. This
company had a business connection
With the Borough Bank of Brooklyn.
The Brooklyn Bank, at Fulton and
Clinton street, Brooklyn, did not open
'or business today. The bank has a
capital Of 100000, and owes deposit
ors s1,50O,oO0.
Upon application of Attorney Gem
.ral Jackson temporary receivers were
appointed today for the Knickerbock- /
II Trust Company
Wanamaker Not Embarrassed.
An official of the Harlem Savings
,ank, where run Was begun yester-
lay announced this afternoon that the !
company will take advantage Of the
ixty days notice law in cases of all T
arge depositors. Among the rumors
float in New York there have been
many affecting number of leading
financial houses. These rumors have
been started for the purpose
# affecting the stock market, and
nan high in authority in the firm Of
Ohm Wanamaker, makes the following
tatement:
"Rumors that have been in circula-
ion regarding this firm recently are
idiculous and without foundation The
fairs of the firm were never in bet
er shape than they are now. Business
n the New York store never was
arger and we are able 10 get all the
oods we want There is no trouble"
$1o,000.000 For Relief.
A pool of slO,ooo,ooo or more was