The daily morning journal and courier., 1907-10-21
CRISIS NAY BE AVERTED

Continued from First Page)
 licitatlOn on the part of any one, that my resignation from the various boards of directors of the other banks with which I am associated might be for the best interests of the deposltors, stockholders and others interested in those banks. Accordingly, I have this day rendered my resignation in all the banks in which I, have been serving as director"
 MT. Morse was connected with the following institutions: The National Bank of North America, the New Am sterdam National Bank and the Gar field National Bank, of all of which he was a vice-president as well as direc- tor; the Mercantile National Bank the Garfield Safe Deposit company the Fourteenth Street Bank, New Amster- dam Safe Deposit company, New York Mortgage and Security company, New York Produce Exchange Bank, Title Insurance company Of New York Van Norden Safe Deposit company, Van Norden Trust company, in all of which he was a director. Tn addition to these financial institutions, Mir Morse IS heavily interested in the American Ice Securities company and the Consolidat- cd Steamship company, which latter company controls the most important coastwlse steamship lines including those operating between the United Tt,.11o x,l TrI MT. Morse also controls the Peoples and Citizens Lines of Hudson River steamboats.
 Following a conference of the direc- tors of that institution tonight, it was formally announced that William O. Allison would succeed Orlando F. Tho mas as president of the Consolidated National bank. Mir. Thomas, 1t was
 stated, had sold his holdings in the bank to Mir. Allison, and Thomas J. Lewis, who were already large stock
 holders and acted in the management of the house.
 After the meeting representative of the bank made a statement in which he said that MT. Thomas had sold his holdings and retired from the presidency on his own initiative, Mir. Thomas, it was stated, had never been borrower of the bank to any extent and did not now owe the bank dol lar Every loan made to customers. of the bank during the presidency of
 MT. Thomas had been approved by the full board of directors after investiga- l tion, 1t was added
 The conference at which MT, Have meyer was chosen to the presidency of the National Bank of North America was attended by Alfred H. Curtis,
 John H, Flagler, Morgan J. O'Brien, William H. Havemeyer and Charles T.
 Barney. MT. Havemeyer is a director in several banking houses and the son
 of the North Americas first vice. | president
 There were several conferences dur l Ing the day, and this evening of men
 prominent in banking circles, in which ! the local situation was discussed. In l most instances what transpired at these | informal gatherings was not made pub l llc, but the Impression was given that those present were well satisfied that
 the readJustments announced had clear
 ed the atmosphere, and made further | trouble uniikely.
 E. R. Thomas said tonight: l have sold out my interest in the Hamilton bank of New York to a sym uleate composed of New York men, and
 headed by the vice president, MT, Ives This is simply a proposition that has l been under consideration for several
 months. My holdings in other banks
 nave been small, and do not represent
 much in financial way"