The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-10-23

men. suc as those whose recent ac-
ton in the clearing house received
emphatic ubli approval. The move
ment for similar concert of action
among the trust companies should
have a helpful and far reaching er-
feet. I shall spend the day at the
s~ub-treasury."
Trust Company of America in Trouble
The ~unfavorable development of the
night was the news that the Trust
Company of America, one of the city's
largest financial institutions with de-
posts approximating $4,000 900 and
total assets and liabilities in excess OF
6 100000 was in need of assistance.
At the time that it became known
that the Trust Company Of America
had given a statement of it's affairs to
other ankers in a request for aid IL
was also announced that liberal aSslS-
lance would be given to it today and
also that it had in its vaults $4,000
600 in cash with which to begin pay
ment of its depositors today should
there be any unusual demand. II pc
came known last night also thae
bankers generally did not regard the
position of the Knickerbocker Trust
as very favorable and were
inclined to permit it to go into Ii
quotation.
As is usual in time of stress, n d
quotations on American securitles
prices showed only fractional changes
and these were mixed, some stocks,
notably Baltimore & Ohio and st. Paul.
Is. Amalgamated copper
declined q.
Lines of people began to gather early
in front of the doors of both the Trust
of America and the kn1cker-
booker Trust AT y CLOCK
there were from thirty to fifty persons
at the main banking office of the Trust
Company of America at AZ Wall street,
and at the same time there was a
crovd~e extending for more than a block
from the Fifth avenue office of the
Knickerbocker Trust p
Oakleigh Thorne, president of the
Trust of America. was at his
place of business early in the morning.
He made a statement to
effect that the Institution was all right.
Plenty of Cash.
wv have plenty of cash on hand
and are prepared for all emergencies.
We are facing the situation calmly"
A committee of repre>
senting the bankers who have taken
the whole financial situation in hand,
went into the offices of the Trust Com
pany of America at 6 o'clock this
morning and began an ex-
animation of its books and the securi-
ties held in it's vaults as collateral for
loans. This committee Expects to
finish its labors about IL o'clock and
at that time will report the result of its
innings. II was learned on nnQueS-
tionable authority this morning that
If this report bears out statements
made by officers of the institution last
night verbally as to it's condition aid
will be extended in whatever sum may
be required to pay off the depositora
who demand their money.
Every preparation was made by the
Trust of America to meet any
unusual rush and it was
that three paying tellers would be on
duty at 10 o'clock.
The crowd in front of the Wall street
office of the Trus company of Ameri-
grew steadily and at 9:40 it was es-
timated to number about $50 persons.
The Knickerbocker Trust company
also was surrounded by a constantly
increasing Eumbe of persons who
were waiting in the hope that the in
would open oday. In this
they were disappointed for
ment was made that it would not re-
sumo payments today. The
was made by a police captain on
the authority Of the officials Of the