Waterbury evening Democrat., 1907-10-26
SKY BRIGHTENS
The Captains of Finance and the Secretary of the Treasury
 Saved inc Day
ALL DANGER PASSED

in the banking world, held no con- ference last night, but went to beo early, confident in the belief that 8 threatening situation had been sue cessfully combatted and that from now on the restoration of public con- fidence and tranquility would be speedily accomplished. The principal difficulty all throughout the week. excitement has been lack of currency There was not enough actual money in the city to stand the tremendous drain without cutting down loans The small banking institutions that closed this week have good supplies of gilt edged securities in theii vaults, but they could neither sell them nor borrow money on them this week simply because of the scarcity of actual paper, gold and silver money.
 No apprehension was felt this morning as to the result of to-day s financial transactions. The stock eX- change and the banks will be open for business for only two hours and the stock exchange will not be trou- bled by the money situation as all the loans made yesterday carry over until Monday under the ordinary rules of the exchange.
 There were small lines of depos- itors in front of the Trust Go of America and the Lincoln Trust Co, but their number was not so great as at the same hour yesterday.
 The direction which remedial eff forts will take has been the subject of earnest consideration and some most important bankers of the city. The difficulties are admittedly in large measure local. It is felt that the sudden lack of confidence is not very widespread throughout the country. The situation at Pittsburg and Providence is expected to right itself. Under these circumstances it was first suggested that an effort be made to relieve the tension in New York by gold imports and something in that line is being done. Whether lIG ldlt Ol GACudBs5S anu lIic pl iSt ol American securities will reach a level to enable gold imports on sufficient ly large scale to be effective remains to be seen. 1t is felt, as Jacob H. Schiff put it yesterday, that any effort to press the matter is likely to meet with obstructive measures in London.
 As an alternative means of relief the clearing house loan certificates have been discussed in tentative way. Naturally every one is loath to adopt this expedient and it is felt that it is by no means necessary to resort to it. A meeting of the clear ing house association will probably be held to-day tn pass upon the ques tion.
 Members of the clearing house committee wen. into session at 10 o'clock this morning.
 The sub-treasury received S10,- 000,000 in small bills from Wash ington.
 The Trust Co of America opened its doors as usual at 10 o'clock to- day. There were fewer than 100 depositors in n.e and the company's officials declared that the run is over.
 Leading bankers declared to-day that conditions were such that they would probably be able to import gold from Londor on Monday to the extent of about 10.O00, ,000.
 The bankers pool which has been supporting the stock exchange houses gave them further assurances to-day that money would be provided for call loans when needed.
 The Terminal bank of Brooklyn, a small state institution, with a capi- tai of s100, ,000 and deposits of about s240,000. suspended payment to-day.
 The clearing house committee ad- journed after being in session more than half an hour. No decision was reached as % whether or not the clearing house certificates should be issued. It was understood that such a plan was opposed by some of the most influential bankers.
 State Superintendent of Banks Clark Williams said this morning:
 Things look a little better. There is a general tone of encouragement all along the ire"
 Directors Of the Lincoln Trust Co announced that the bank is in q posi- tion to meet every demand. that it is stronger than any previous day this week and ;hat the withdrawal of funds is decreasing.
 James StfIIDan said this morning after the cOnfe-eLce at the clearing house:
 '~The situation has been saved by the heroic action of the secretary of the treasury. wh0 has been so ably assisted by the Ehols-hearted coop eration of MT Morgan"
 Soon after arriving at the sub treasury to-day. Secretary CorteIyou had a eoafereEce with George w Perkins of J. F. Morgan & Co. Mr Perkins subsequently said
 The atmosphere is fast clearing mp as anyone es7 sse
 Mr Perkins was asked if he thought this EenTd be the last dav Of the EnanEasI di5cuItT. He re- pIisds
 T think it is.~
 The executive committee of the clearing house association thEs rorr- ing sssued a call for a meeting nf fke fan sssocfzfE91 to hs held at Ifl ore1oek to dac1ze whether or nas to sssze clearing k1zse certificates.
 TIT . Dsz9<EzxE want seS.