davidaulloa/AmericanStories huggingface dataset:
Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1907-05-02
BURLINGTON MARKETS.
Wholesale and Retail Prices Furnish.
Cd by Eocet Dealers.
WHOLESALE.

Quotations in local markets OF the city
are as follows:
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-28
Milwaukee Follows New York plan.

Milwaukee, oct. 27-The Milwau-
kee Clearing House association held a
meeting today. at which 1t was dccid-
ed To follow the plan adopted IN New
YORK. Chicago and other cities Of Is
suing clearing house certificates and
to require thirtN-days' notice from
depositprs deciding 10 withdraw de
po from Swings banks
The association issued "a statement
tonight in which il defines the mean
ing of clearing house certificates
and the purpose of their issue Con
tinuing, the statement says.
since New York aud Chicago
bankers have decided To- issue clearing
house certificates Milwaukee bankers
are compelled Ia follow their example
m order to preserve their cash re-
series
Milwaukee banks were never I'm a
more sound aud prosperous condition,
but circumstances In New York have
brought about "a situation that makes
il Imperative that an banks must
stand together and preserve their cash
balances. It viii doubtless he trying
ana incouNeuient for both banks and
their depositors. but n the people viii
co-upcrate with the banks and under
stand that an will be gamers I'm the
end by the course adopted, the situa-
tion will rapidly improve and business
return TO normal conditions
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-28
No Fear Of Panic in Denver.

Denver. oct. o. Financial mon "
this city express the utmost conf
denSc that all danger Of serious re-
suits from the money stringency IN
New York Is now passed. and that
conditions Will right themselves rap-
idly. Charles u. kounze president Of
the Colorado National bank and also
president Of the Denver Clearing
House association. said tonight that
the recent trouble in financial circles
of New york had no appreciabP ef-
feet on business affairs OF Denver ami
Colorado. and that none was feared at
any time. He expressed considerable
satisfaction when referring 10 tho
manner Ia which monicd men Of New
York grasped the situation there. and
in this particular bespoke the scnti-
mcnts of bankers and business men of
Denver generally. All seem confident
now that tho trouble as far as tho
likelihood of a panic Is concerned is
entirely over.
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-28
Clc,eIand Unaffected by rlnrry.

Cleveland. oct. 27-The financial
furry in New York last week had no
appreciablc IN effects on the situa-
ton I'm Cleveland. according to the
unanimous expression OF bankers aud
other fnanciers OF this city. The
coming week IL entered upon here
with mistaken confidence and with a
favorable outlook for the entire week.
Local bankers say there is no strin-
gency I'm money in this section of
ohio. and no feeling Of uneasiness has
been manifested by either depositors
or those interested In securities Thus
far no action has been taken by the
local clearing house officials with ref
erence to the issuance Of clearing
house certificates. but a meeting Is
being held by bankers and clearing
house officials, and a definite plan on
this subject viii be announced tom0r-
row
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-28

Indianapolis. oct 2T.--AlthouRh ac-
tion was taken late last night by the
indianapolis clearing house in connec-
tion with the trust companies to pro-
tect depositors by issuing clearing
house certificates for exchange be-
tween the local financial institutions
20 settle balances and by the trust
companies, taking advantage Of the
law requiring thirty 10 sixty days no.
tice before paying depositors. the In
dianapolis banks and trust companies
arc in a better and stronger condition
than at any previous period AL
though not at present feeling the fin
ancial stress now existing In New
York il was thought best tp adopt
precautionary measures. hence the ac-
tion of last night. Local finauciers
say that the conditions in this city are
most encouraging, and no fear Of any
trouble OF any nature exists.
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-28
FRENCH VIEW OF
SITUATION
Paris Believes Money Strin-
gency in New York viii
Teach American FinanCierS
Needed Lesson,
By Morning Journal Special Leased wIre.I

Paris. oct. 27.-The prevailing opin-
ion in financial circles Is that the
worst phase of the crisis ia New York
Is over. if IL does not extend TO the
interior OF the country. No skepticism
exists regarding the enormous wealth
solid basis Of its prosperity and the ut
most confidence b. expressed in J. y.
Morgan and the cotcrie OF bankers at
the helm. The measures Of relief
taken by the clearing house in New
York and by Secretary of the Treas
ury COrtclyou are also approved. New
erthcless. it Is recognized that the ma
chinery of credit b. extremely delicate
and that the shock 20 public conf
dence constitutes the graveSt feature
Of the situation.
The financial writers pay more at
tentiou to analysis 81 the causes 81
the panic and the ultimate good that
Is sure 10 follow than 90 predictions Of
the future. They agree generally that
the crisis was the ineNitable sequel % a
period Of Indifferent harvests and
President Rposevelt's campaign
against corporation abuses. Many alsp
regard it AS most acute phase uf a
worldwide crisis. The lesson they an
draw Is that the financial situation in
New York should lead 90 a reorEaniza-
tion 81 the American monetary system.
the establishment ~ governmental
bank o. remission and rediscount. such
as exists in England. Germany and
France. and change in the methods
~ the New York stock eNchanEe b.
which sales and purchases shall BE-
confined % seCurities
French bankers Do not expect Paris
o. furnish gold for New York. a. least
Tor the present. and anticipate that
London win supply considerable
amount
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-28
CHICAGO FINDS
SCANT CAUSE
FOR ALARM
BANKS DECIDE UPON
PROTECTIVE MEASURES
CurtaiIment of Speculation
Which is Strongly Urged by
Bankers, Only Result Looked
For in Windy City,



Chicago. oct. 27.-Financiers and
bankers of Chicago tonight look for
ward with hopefulness TO the probable
continuance of the present financial
solvency of the banks and trust COM
panies. basing their expectations or
the protective measures taken by the
clearing house association last night
in ordering the issuance Of clearing
house certificates and the putting In
force of the legal notice that may be
required for the Withdrawals of saw
ings bank deposits The clearing
house association held a long meeting
today to discuss the possible develop
ments in the present money stringcncy
and 90 perfect details of the new
plan adopted to ward off possible
scarcity of cash.
Chicago bankers are dlseouraging
speculation in stocks and grains and
they predict that dealings in such in
vestments during the week will be
scant as far as Chicago is concerned.
The inability of savings bank deposit
tors to withdraw money without thirty
days notice viii aid the bankers in
their desire to keep people from tie
ing up Chicago NOR in securities
that would be bought and paid for in
the east. Such leading bankers as
John J. Mitchell. of the Illinois Trust
and Savings bank. j. b. Forgan. Of the
First National bank and T.. H. Potter
of the American Trust and Savings
bank tonight asserted that there was
absolutely no cause for alarm IN Chi
cago; that all Chicago banks were sol
vent and in good condition for normal
times: that business would proceed un-
hindered on checking basis and In
all probability in q short time the
emergency arrangement to prevent the
Withdrawal of cash from the banks
would not be needed.
Clearing house certificates VIII be
used for use in paying clearing house
debts on Monday and the savings
banks that are members Of, or clear
through the Chicago clearing house
association. viii begin Monday morn
ing To require the legal notice before
paying depositors
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-28
Money Plentiful in Northwest.

bankers of this city are "A unit i'm the
belief that eastern banking conditions
are not going to affect Portland or
north Pacific financial institutions.
They state without reservation that
money was never so plentiful nor gen
eral business better. Credit balances
with the east are ana have been for
months in favor of the Pacific north
west banks. and money is continually
being loaned In the east instead Of
coming west for that purpose. crops
throughout the Pacific northwest will
be OF record quantity 81, 3,oOo ,ott
bushels Of Wheat--at record prices.
Portland bankers say they are inter-
cstcd in New York financial conditions
only because New York is the banking
center of the country
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-28
No Danger in Cincinnati.

Cincinnati. oct 27-No apprehen-
sion of any financial troubles during
the coming week In ihis city was fel
today by leading bankers and fnan-
ciers. As Melville E. ingalls,, presi.
dent Of the Merchants National bank
and chairman of the bo I'd Of the Big
Four railway expressed 10, THE finan-
clal condition Of Cincinnati il as solid
as Gibraltar. We are not and have
not been in any danger here
Others expressed similar views. Dur
ing The past week local financial deal
ings were quiet al all times, but prices
were fairly maintained, an advance
being scored on an dealings yester-
dnN
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-28

and chicanery on the broad basis OF
general prosperity.
II is pointed out that prosperity will
be cleaner FOR the removal of rotten
superstructure, and in the wreckage
caused by the downfall of the gam
hlers. investors will find more of an
opportunity for picking UP cheap.
sound stocks"
Now is the time to buy" Is note
not infrequent In general comment. II
is not unreasonable TO believe that the
comparative calmness with which Eu-
rope Views the situation may he due
To the greater and more reliable dis
semination of news. few years ago
in the news from the United states, a
panic was panic and nothing more,
now reasons for ana details OF crisis
enable thoughtful persons to differcn-
tiate between runs ON banks by ig
norant foreigners aud Withdrawals by
sober minded investors.
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-28
Ionis,lIle ont of panpcr Zone.

TnuisVille. OCT 11-TNC IOC0I I'M
amelia! situation ~ not giving bankers
or business men Of Louisville any un
easincss. Conditions in New York are
not regarded as dangerous to the Wcll
being Of the country az large. Prom
inent bankers interviewed today cN-
pressed the conviction that the dan
ger period fur the New York banks
has been tidcd over. No recourse to
unusual remedies was had by Louis
willie banks. nor Is any expected. The
only way in which the New Norl
panic. has been felt has been In the
calling In of portion Of their loans
bv the banks and other minor meas
urcs calculated to increase their re-
serves.
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-28
Omaha ,ntIcipates No Trouble.

Amaha. oct. 2s-After DAY spent
in telephone communication with
every city u importance IN the middle
west. the Omaha Clearing House as
sDriation decided that beginning to-
morrow clearing house certificates
viii be- issued as a protective meas
ure The association paused in its de-
Hberations tn issue statement tn the
Associated Press signed by President
Hcnry w Yates as follows
$50 far as local conditions here are
concerned not the slightest cause eN-
lists for the action.
1t would be futile for the Omaha
hanks fa undertake 90 meet the cur
ransf demand which would be made
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-28

st. Paul, oct. 27.-Reptesentatives
of the banks of St. Paul, Minneapolis
and Duluth this afternoon agreed to
discontinue the payment of money on
checks, certificates of deposit or drafts
except for small sums. and that for
the present no money should be fur
nished to bank correspondents. II
was agreed. however, that the banks
Should certify their checks on bal
ances in their hands, payable through
the clearing houses only
The Savings banks and trust COM
panies will require the sixty and ninety
day notices. The payment of checks
and drafts through the clearing house
will proceed i'm the usual way.
A statement was issued after the
meeting that the action as outlined
was taken for the purpose of protect
ing commercial interests and of pre-
venting drain on the banks II was
the unanimous sentiment of the bank
crs of the three cities that the restric-
tions imposed would be but tempo
rary. and all agreed that the banks
are perfectly solvent
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-28

Detroit. oct. 27-The financial
troubles which beset the New York
banks and trust companies last week
were practically without effect on To-
cal banking institutions. In fact, the
weekly clearing house statement shows
gain OF considerably over S10O,O 600
on savings deposits during the week.
Here and there a timorous depositor
withdrew an account. hut there were
not enough unusual Withdrawals to he
noticeable. Pankers here do not an
ticipa0 trouble of any kind
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-28
THRIFTY DUTCH SEE
CHANCE OF PROFIT
Amsterdam Banker Advises
Clients to Purchase Amed-
can Securities During Period
of Depression,
rs, Morning Iou,pal-spec,ai Leased wir.l

my ""'"'"t "'" -. -.
b'fhn. '.l ~, .., ~.
clai r'iuaH ih 'U' t ...5 al.
raId'a h'I. h'Ft,N 49,,
quickly a- y 'aH'' ul'
b'flln bihh7 ai' 'l,e
TONERS mat th'
week mas Eiipp'a -N,N .-.
.ug anh thai cphhl' i'H7 D" Nn'' Peg "'
30 sound that go n'.p -''l'N
g''nrof can l'ti"wt t.,..
Hf "a n"Mtfiul lt"Il'iil i,l.''i
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-28

St Louis, oct. 27.-Confidence that
their action in the voting Of the issu-
ance OF the clearing house certificates
would hold financial matters in check
until a complete readjustment could
be made, was the prevailing senti-
ment among the leading bankers Of
St Louis today. and the prediction was
made that the coming week will be
better from banking standpoint than
the last has been. J. G. Van Blarcon,
president Of the National Bank of
Commerce. was one Of those who ex-
pressed this view. and he added:
"The action Of New York financial
institutions demanded that we take
such step as issuance Of clearing
house certificates which Will help US in
our policy Of stand pat The general
uneasiness which Is spoken of is con-
fined practically in its entirety TO the
east, or, / might say. to New York
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-28
GAMBLERS BLAMED
FOR CRISIS
British Praise American InSti-
tutions for SpIendidIy With
standing Enormous Drain on
Golfers,
Try Morning Journal special I,e-.-ed wirr.I


Isndon. oct zs-While the srnsa-
tion mongsrs here and in other Euro
pean capitals have seized on the crisis
in New York foo discredH Amer
team financial methods. there r q
strong note Of optimism loo more reIia-
ble and saner quarters. Though ac-
knowledgiug that fhe crisis is disturb
ing 10 the Nerves % the financial
world. It b. not forgotten that thr iu-
dustrial and agricultural prosperity 90
the United Siate- i- extremely ftils-
factory.
The money market trouble coming
with the admitted general prosperity
seems e. bother fhe alI pervasiNe pro-
fessionaI critics uf American financial
conditions. but aI are willing other
wise O. praise the more Nruminent in-
sfffufinu1 fsr eH splemdidlN Win
standing tho ran Hu their golfers Ae
situation is deecTIhed as rieh maii 2
crisis buf "a poor mans panic ~
the same time De- I- Insisted That Hhilf
the uureasoning fears reEutiln9 ~
ff.anic MAY b. as.uagrd. t1e crisis re-
mains. The crisis o. alleged O. haNt
been due fn 'Ea mhIere uho hHft uuii
up a futfarinU lanfic nf ulluiliu alton
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-28
P|TTSBURG BANKERS
OPTIMISTIC
Smoky City Quickly Receivers
From Near PaniCi Stock Ex-
change May Resume Today,
IN, Morp,nr journal special Leased wire


Pittsburg. oct. 27.-The financial
situation in Pittsburg, Notwithstanding
number OF surprising and unexpected
occurrences during the past few days,
is viewed enthusiastically at the opening
of the wccy by prominent men in
financial and business circles.
That conditions here \ have quickly
rigated themselves owing to the adj
mirable confidence Of the people In
the financial institutions and that az
fairs are progressing normally are the
expressions contained in statements is
sued by the Pittsburg chambe of com
merce Pittsburg clearing house asso-
citation and individual bankers and
business men.
Whether clearing house certificates
will be issued here depends altogether
upon the New York situation. Should
conditions there become more acute.
the action Of issuing certificates viii
be taken to protect local institutions.
As to resuming operations in the
Pittsburg stock exchange tomorrow
there are several opinions. No official
announcement has been made and the
matter will not Doe definitely decided
until tomorrow.
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-28
No Alarm in Galveston.

Galveston. Oct. 27.-Summing up
the financial situation In Galveston. I.
J. Grace. president of the Galveston
clearing house association and presi-
dent of the Galveston National bank,
said today: There are no disturb
ing factors in the local situation. The
banks are working along quietly and
conservatively, insisting on the grad
ual liquidation of outside obligations
without any pressing or harrassing
methods and emphasizing the neces-
sity of cooperation in gradually re-
lcVing the situation"
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-28
baltimore RANK, in Good Shape.

Baltimore. oct 27.-Rcccnt events
IN financial circles in New York have
been without considerable effect here
Money has been tight locally for some
time, and a few who have required
cash during the past week have been
forced to sacrifice first class securities,
but these cases have been few. Local
banking institutions are in excellent
shape and Baltimore financicrs appear
To believe that conditions in New York
have passed the worst stage and will
now steadily improve
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-28

on them, not only for the normal re-
quirements of their business, but they
would also be required to supply the
demand ordinarily supplied from Chi
cago and New York
one of the leading bank presidents
stated that the conditions in Omaha
were never better in the city's history,
and that they could hardly be better
than they are. The one savings bank
decided today to begin enforcing the
time allowance provision in withdraw
ing funds.
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-28

Charleston. :. G.. Oct 27---The even
tenor Of financial affairs in this part
Of the south has not been disturbed
by the troubles in Wall street, and
local bankers express no fears that
prosperity in the south viii be seri-
ously affected by the rich mans
panic" IN the north and east.
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-28

Atlanta Ga. oct 25.-Atlanta
bankers express entire confidence 10
the financial situation and say they
do not expect trouble 81 any kind. The
situation they say. Is well IN hand.
and money Is coming in fast from the
marketing 81 the cotton crop and
there Us no reason 10 anticipate any
stringency In the local market
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-28
Situation Favorable in Boston.

Boston. Oct 27.-The financial sit
uation i'm Boston is very favorable, ac-
cordng to all classes of bankers.
There has been no abnormal demand
for funds at any of the banks. Pierre
JAY. chairman Of the state bank COM
mission, SAYS the trust companies are
i'm better condition than last year The
other institutions are also in excellent
shape.
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-28
NOTICE TO BANKS OF
SOUTHWEST
KanSaSCiyCIearing HOuSeAd-
viSeS Correspondents That 1t
viii Issue Credit Certificates,

tBy herninE Journal special leased Wire
Kansas city, oct 27-The Kansa,
city Clearing House association. IN
conference here tonight. requested
following statement to its country
correspondents:
ITO the Banks Of the Southwest:
In view Of the action taken by the
clearing houses OF New York, Chi
UHFo. ST. Louis and In other cities, In
order 10 protect the business interests
Of Kansas city and the southwest. the
Kansas city Clearing House associa-
ton will issue clearing house certifi-
cafes az needed and will require all
payments to be made through the
clearing house
"a suggests that banks make an
payments by drafts payable through
tho clearing house only
bankers say that this precautionary.
act was made necessary for the pro-
tpctiun of local financial Institutions.
because the same action had already
been taken hv the clearing houses 0f
thc larger cities of the east
Bu~inc~~ Never BETTER in kansa~ Cit'.
Kansas city oct. Last WCCk's
clearing hquso business iu Kansas CitA
showed % total of nearly fDrtN-one
million dollars. Hu increase ~ 2G per
cent over the corresponding week last
year. and breaking HiI pres iHus rcr-
ord- General huelnese was never so
brisk and tho Income 90 the farmers
~ The southwest. whose crops have
commanded high prices Is larger than
ans previous year Tho financial sif-
uatian d. viewed without alarm hy lu-
rai bankers and merchants. Banks
have redurod loans since the trouble
began Zoo the east and have large res
serves. o. iF not expected that there
VIII Doc any unusual demands upon
them. Loading bauEer~ tonight stated
that fhcv would faIa every urccautiou
t0wars tha Interest," of their deposit
nra hut thaf tHr, 900 NOT believe cx-
trsmr measure fa hr necessary.
Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1907-10-28
cnrrrnc, uithdrauaI> limited.

New Orleans ffrI AlIff .
meeting OF fna Nsu orleans Clearing
Hnuse ns4nrI1fIan It was announced
tonight that aII banks In NeW orleans
world require -Irif days notice o.
withdraw savings deposits that the
aatwenf af .rrrHury Co ans one de-
nnsifar would boz limited ta $50 H duN.
except fn meet pas rolls. a..f that use
uuufH hf n-HHH Hf rIrHriuE house Der-
ffirafes
Tf vas also announced that ihis ar-
fIHn eas taken 81 a rrecautinn against
runs an lorai hHufs aud in fhf interest
nf deuusifor.. and in conform utH
similar afru- taken ht banks n Hther
.Hfas