Watertown weekly leader. [volume] (Watertown, Jefferson County, Wis.) 1906-1908, 1907-10-25
Financial Situation in Ne,
York Is Declared To Be
Satisfactory.
CORTELY0U STILL IN The CIT
Trust Company of America Open
Doors for Business at
Usual Hour.
Three Relatively Small Banking ~
stitutions Suspend Psymsnt--
Pittsburg Stock Exchange ~
Doors Still Closed.

New York, Oct. 25.-DevelopmeIf
In the financial situation are more "a
Eorable than they have been at an
time within the past week. Under th
firm confidence established by the re
suit of n conference between ]. I
Morgan, James Stillman and Secretar
Cortelyou and the encouraging state
ment Of the latter, the stock marke
opened strong.
John ID. Rockefeller has depositet
$10,0OO,OOO with one of the city's old
est trust companies to be used in eX
tending aid to such trust companies q
might require 1t.
The Trust Company of Americ;
opened its doors for business ut tn
usual hour. A short time before tina
Oakleigh Thorne, president of the in
stitutiOn, announced to the waiting de
positors that the institution was en
tlrely solvent and prepared to NEE
all claims. Mr.. Thorne said he wa
confident that the institution had seer
the worst of It's difficulties, and he ap
pretended no further trouble.
Three Small Banks Suspend.
The suspension Of payment by thre,
relatively small banking institutions
situated in the outlying Harlem dis
trict was without any effect whateve
on the general financial situation dowl
town.
The banks which suspended are tn,
Hamilton bank, Heinze concern
with $7,OOO,OOO deposits; the Twelftl
Ward bank, S3,OOO,OO0 deposits, an,
the Empire City Savings bank, $1,000,
600 deposits.
AT 1O:45 J. +. Morgan in reply to
question as to the situation said: Il
is all right"
James Stillman, president of the Ma
tional City bank, the largest bank il
the United States, who was with Mr.
Morgan, concurred, saying that tn
situation was satisfactory. Secretar,
Cortelyou at II o'clock said: Thing
look pretty good now. l have ha,
word of the suspension Of the tw,
Harlem banks, but prefer to make NJ
comment on it. | will remain her
some time longer. The rumor that w
are short Of small bills is unfounded
We have $1O,OOO,OOO in small demon
nations"
Pittsburg Exchange Remains Closed
Pittsburg, Oct. 25.-As was expectet
the Pittsburg stock exchange RENAME,
closed. Shortly before 10 o'clock th
members were called together by Sec
retary Holman, who announced tha
suspend trading for the day. In wei
Informed circles 1t is believed the ex
change will not resume business unit,
Monday.
The local financial situation Is Il
good shape and is under perfect con
troll, according to statements made b
prominent bankers. Without excep
ton all say that the furry has passet
and that the situation at present |
brighter than it has been for a week.
Money Sent by CorteIyou.
The S5,OOO,OOO sent by Secretar.
Cortelyou to meet any possible de
mand for currency In making up thi
weeks large payrolls has been rt
ceived. This money is now in thre
Of the largest banks in Pittsburg, an
is ready for distribution to any ban
in need of it.
Judge Ward, in the United State
circuit court, appointed e. NJ. Herr
p. n. Given and Charles G.. Burlne
ham ancillary receivers Of the West
inghouse companies and their asset
and properties in the judicial distric
of New York. The receivers are rt
quired to file joint bond Of $4,000.
Run on Rhode Island Bank.
Providence, r. l., Oct. 25.-Deposi
tors at the Union Trust company
this city began withdrawing thei
money. Before the close of bankin
hours large numbers had been pait
Marsden ]. Ferry is president of th
Union Trust company. Mr. Perry
also connected with the Trust Con
pany of America. the New York inst
tuition which for two days has with
stood an unusually heavy drain.