The citizen-Republican. (Scotland, Bon Homme County, S.D.) 1???-19??, 1907-10-31

because the banks Of Kansas City
and st. Louis refused to forward
cash TO the banks of the southwest.
1t is said a telephone consultation
'of many bankers in Oklahoma, In
dian Territory and Texas took
place early today and all decided
upon similar action.
New York. Oct. 30.-The principal
events in the financial district Monday
indicated that the worst of the crisis
was over and that conditions We're
settling down to normal. There were
no further bank suspensions, and re-
ports were favorable for the resump-
ton Of most of the banks, which
closed temporarily last week. The en-
i~gagement CT SIS. 750, 900 in gold from
Europe for importation to New York
was followed by the sensational an
nouncelnent of sales of American cop
per abroad which will further increase
the tide of foreign money to this coun-
try to an aggregate of over $25, 900, 900.
This. with the rapid rise of good Sc
curities on the stock exchange, in some
cases as much as 4 and S per cent, and
the policy OF the trust companies not
to pay currency for boarding purposes,
all contribute to strengthen the feeling,
sn banking circles and among the pub
Tic at large.
Morgan Stays in His Library.
So we'll was the situation in hand
That there was no Scurrying about of
leading financiers and hasty confer
ences as took place during the closing
days OF last week. J. Pierpont Nor
gan was in touch with the situation in
his library on Thirty-sixth street, but
did mt find i ~ 10 $1,000
town.
Runs upon banks practically ceased,
partly because of recognition that they
We're unnecessary and unjustitiable,
and partly because of the policy adopt
ed to pay large checks only in certif-
Gates on depository banks. This sys-
tenn of payment worked no apparent
hardship and was the cause of very lit
tie protest. Small checks were paid
promptly in currency, and large
amounts where it was demonstrated
That currency was required for pur-
poses other than boarding. 1t is still
possible for a frightened depositor to
transfer his account from one instit,I-
tlon to another by depositing a check
in the depository for which he now has
a preference, but he cannot withdraw
large amounts IN gold certificates to he
locked in a safe deposit vault, as was
the case last week.
Up to date the ENGAGEMENTS ;,,n,,+
amount to 5000. 900 by the National
City bank, 81 900. 900 by the Chase No.
t'onal, 81 10000 by the Heidlebach, Yek-
ieae;1ner q Co, Saturday, and 81, 900, 600
oS I'd hanover National today.
Gold importations.
Gold to- the amount of about S., 600, 900
will probably be offered in the open
market IN London today, and it is
hoEeG the United State will secure the
larger portion OF this. American sec,ri-
tie in London showed a sharp ad-
W t..a OF ~ ~ Ol1x
Copper advanced ~, Atchison IL, I'm
ioE Pacific 1A and other shares frac-
ticnally higher.
Lines of ~depositorc remained in front
of the doors of the Lincoln Trust COM
panN and the Trust Company of Ameri-
ca, despite a heavy rain which fell
throughout the night. All night the
line "a the Lincoln Trust company
numbered eighty persons and forty-ive
were waiting their turn at the Trust
Company OF America. Three persons
remained ir line at night in front of the
Rlversli1 bank. a small state institu-
ton at Eighth .Vcilue ard Fifty-seventh
street. AT . o'clock the line in front
of his bank was thirty-fve persons.
Laseard F. Reres engaged 81, 500. 900
in gold for importation from London to-
day. This makes SILL 900, 900 in gold en-
gagged for Importation since late Fri
day.
The Lincoh, TrusL company resumed
business this morning as usual. The
line of waiting depositors was much
smaller than at the opening hour Satur-
day. AZ the North bank, a state insti-
tuacn at 500 Broadway, sixty persons
were in line at the opening hour. The
Trust Company of America resumed
payment to depositors as usual at 10
O'Clock.
The gold imports of Reres were sub
sequently increased to make a total of
$11 500, 900 for imports.
The financial conditions show grow
ing evidence of improvement up to noon
To-Day. Exceptional engagements of
gold had been made abroad and the
stock market is advancing on a general
demand for securities at the present
low prices. Gold import engagements
now total $12,00o 900 and already this
exerts a very helpful influence. There
are considerable orders from abroad for
American securities which must be paid
for in gold. and this will augment spe-
Gle imports.
Practically no margin transaction
on the stock exchanges We're recorded
today. No failures reported in New
York up to l O'Clock. Pressure upon the
banks Of New York was distinctly abat-
ing. Runs dwindled into almost insig.