The Barre daily times. (Barre, Vt.) 1897-1959, 1907-10-24
DepOsltors Lined Up al Three
O'clock This Morning
PREPARATORY FOR A RUN
Two More New York Banks Suspended
Today and q Third Get a Run-0thsrs
Are Seeking Protection Under the Law
WAL Street Opened Well Today.

/"
The Twelfth and the Hamilton. both Of
which are small institutions. suspended
this morning. and the fear Of depositors
in the banks under suspicion appears
unalIayed. The depositors began Assem-.
bling before the doors of the Trust Com.
pany Of America at o'clock this morn.
ing. and a run is on again today. with
ths institution still paying all who seek
to withdraw their money. Another big
run Is In progress at the lincoln Trust
company, where police reserves are keep.
ing the crowd IN order.
The Empire City Savings bank this
morning took advantage Of state law
requiring dePositors to give sixty days
grace before withdrawing their account.
This was dono because Of the excite.
ment In Harlem, following the closing
OF The Twelfth Ward and Hamilton
banks. Both these have posted notices
assuring their depositors Of their sol
vency. Other savings banks expect TO
follow the example Of the Empire.
In spite Of the CONSERVATION among
bank depositors, the situation on Wall
street IL rcassuring. Stocks opened bouy
antly, with an advance OF one 70 one
and half points. The Hartman stocks
were especially strong.
At 1890 o'clock this morning. J. Pier
pont Morgan and James Stillman. presi-
dent Of the National City bank. made
a hurried call upon Secretary OF the
Treasury Cortelyou at the Manhattan
hotel
Other Banks Aiding Besieged Institution
Frank Vanderhp, viee-president Of the
National City bank, made the following
official statement this morning:
The situation has been met. The
trust companies win come to the aid
OF the Trust company Of America. The
examination by the committee appointed
to look into the trust companies have
found that the Trust Company Of Amer
lea has sufficient assets to warrant pro
tective action by the committee, and
such action has been agreed upon"
Mr.. Vanderlip said that Secretary
cortelyou will place ample funds in the
New York banks to meet any emer
eeney. He also said that Secretary Cor
telyQu would make q statement later.
corteiyou's Promise Of s25, 100000.
After conference early this morning
Secretary Cortelyou gave out the fol
lowing statement:
Il have said to number Of gentle. |
men who called on me today that any |
statement to the public regarding condi !
iions found here should be made with |
the utmost frankness, that depositors
and others interested in banks might |
realize that entire reliance might be /
placed upon it. Those familiar with the
facts have known that the situation was
made serious largely because Of the cir |
enation of unfounded rumors and the
mreasoning anxiety of many who only
thought for the moment.
"To pass safely through such day
as this, one of most unnecessary excite
ment as it has been, is the best evidence
of strength and support on the part
of those who have undertaken the diff
cult task Of establishing public conf
dence Wherever there is weakness, and
IT has been in but comparatively few
defing aid, and in behalf Of the treasury
apartment | may say that believe it
in duty to do what | can do, and |
khall do in the largest way possible1
whatever may be necessary to afford
relief II the press Of the city will con-
tinue its cooperation, and II the public
on its part will reflect upon the real Il
sfrength Of our banking institutions,
there will be a fast return Of the conf
hence, which this condition warrants.
AS evidence of the treasury's position
| have directed deposits in this city to
Ehe~ extent Of $25,0O0,000."