New-York tribune., 1907-10-24
COMPANY MEETS RUN.
Continued from first page.

line long enough to reach tho windows were
badly husterod for the most part. They could
not make their pens work they ndorsed their
checks at tho wrong end, ana dropped them on
the floor before they could get them safely TO
the paying teller.
All day there were about three hundred or
so in line-somctimes less. sometimes more
There was no disorder. for there we're too
many policemen ready. for IT, Some pickpockets
mixed IN the crowd. but the Wall street seuths
soon hurried them out OF tho financial district.
For some reason a-sroup OF about twenty
persons gathered across the street from the
Morgan office and gazcd steadily at IL for a
couple OF hours or So on the other corner the
steps or the Sub-Treasurv were packed on the
other side Of the street the crowd amused itself
by trying to dodge the police and stin keen
within the focus Of the cameras being snapped
from the Sub-Treasury steps A block awav no
one could tell that anything unusual was going
on.
Nehicular traffic was practically prohibited be-
tween Broad and William streets. CAPTAIN
Hogan was in charge Of the police under Chief
Inspector Cortright, who took personal charge
while the crowd thickest.
BANK EXAMINERS BUSY.
Just off Wall street IN auIct corner ~
Broadway. fifteen OF the state bank examiners
were carrying on comprehensive surveillance
of all banks and trust companies. These were
posted. Hike so many scouts. at all the banking
centres throughout the city From the opening
of banking hours the fifteen official watchers
kept reporting to the central office showing fust
how each bank and trust company was doing
business. how much ready cash It had. how II
was accommodating fund Of defensive cash. A
chart lay before the chief at the central office
-lan ing tho
the chart at II o'clock showed no runs at anv
points except al the Trust Company of America
1t disclosed too, how all the outlying banks were
storing up reserve funds to meet all or,orsar
cies.
The whole storm centred, Of course in yVau
street, but it overfiowed into Broadway. Neart,
n thousand, mostly clerks and stenogranhers
were waiting when the doors opened az tho
Colonia! Trust Company. at No. 222 Broadway
The reserves kept the long lines in order. bnt
there was not much need OF their services.
HISTORY OF TRUST COMPANY.
The Trust Company of Americ, rorroso,,,
the consolidation OF several similar institutions
ana its history is one Of successive enlarrenep4s
Ihe old company Of that name was orpapiza1
in 1899, with the late Ashbel p Fitch as presi
dent. The first amagamaton out of which the
present company was evolved in 1900, when
the international Banking and Trust Compsnv
Of which Oakieigh Thorne was president at tho
time. consolidated with the North American
Trust Company under the title of the North
American Trust Company. The old North
American trust Company was formed in 1898.
taking over the assets OF the Jarvis ConkIin
Mortgage Company. On May 26, 1899, the late
Alvah Trowbridge was elected president oF tho
company. The International Banking and Trust
Company was organized in 1899 and its fret
president was Stewart Browne who had been
connected with the New York Life Insurance
Company He was succeeded by Mr. Thorno
The second amalgamation took place in 1901
when the North American Trust Company. Of
which Mr.. Thorne had become president the wear
before consolidated with the Trust Companv or
New York. with combined assets of 500 OOO Ooo
and at about the Same time the former company
took over the Holland Trust Company and the
Century Trust Company in liquidation
The third and last amalgamation was in 1905
wnen after about two years OF intermittent
negotiations the North American Trust Com
pany, the Trust Company of America and the
City Trust Company were merged into one con-
Germ with a capital of $1,000 600 and a surpius
OF $9,6OO,0O0. The total deposits OF the three
companies were more than 500 100000 The new
company took the name of the Trust Compan,
of America, and Oakleigh Thorne was made
president. In January. 1907 the Trust Company
of America and the Colonial Trust Company
were consolidated. The first named is now
known the Colonial Branch of the Trust Conn
pany of America. John K. Borne who was the
president of the Colonial. is now chairman OF
the executive committee of the Trust Company
of America The officers of the company are.
President, Oaklelgh Thorne; viee-presidents
James w. Tappin. William H Leupp. Heman
Dowd and Philip S. Babcock; chairman Of the