Albuquerque citizen., 1907-10-25
He Believes That Finances
VIII Speedily Resume
Their Normal CondI.
ton Without Loss.
CONCERNS SOLVENT
BUT LACK CURRENCY
Heavy Deposits by Financial Men
And Government Are Having
Good Effect In AIlaying
Fears of Other Inter
eSted Parties.

New York. Oct. s5.-.A much
ness circles this morning. The sue
cess of the relief measures UNDER
taken yesterday by j. Pierpont Nor
gan. John ID. Rockefeller and other
prominent financiers. together with
the serenity with which the officials
OF the Trust Company of America
met the run of depositors, gave
great encouragement to business men
generally that no further trouble Is
to be feared. Twenty-Five million
dollars made up by a pool headed
by Morgan, which went into the
stock market yesterday afternoon, is
believed to have given permanent
relief to the brokers In need of funds
to carry stock bought and sold on
margins for customers
Cortelyou's Views.
In an address last night at a dim
ner given by the Graduates club,
Secretary Cortevou referred to the
financial situation, saying:
I'VE are having a trying exper-
ience but with all its embarrass-
ments | find my faith in the general
stability OF business strengthened
by the examples / have seen of high
courage and splendid devotion to the
public welfare shown by many men
OF great influence in commercial
and industrial life in this city. The
weak places have been fortified but,
what is better, those OF evil influ-
.sAce hava been scourged from their
positions and determination to
carry this work forward will have
o far reaching influence in restoring
the public confidence"
She Stood All Night.
The announcement was made this
morning that the United States Ex-
change bank, a small institution in
Harlem, would not open for business
today. The bank has little more than
100000 on deposit and its suspen-
sion was entirely without effect
There were lines of depositors wait
Ing this morning in front of the
Trust Company of America and the
Lincoln Trust company's uptown
banking office. The line at the office
of the Trust Company OF Ameri-
ca was maintained all night and at
the head was woman, who declin-
ed TO leave her place even when the
men behind promised to restore 1T
to her In the morning.
The Borough Bank of Brooklyn.
state institution with a capital Of
100000 and deposits of about S3.-
100000 did not open for business
today. Its business was not very
large and no prominent financiers
are connected with IT, One OF dts
principal connections was the Kni0k-
erbocker Trust company, which sus-
pended business Tuesday.
No Session of Exchange.
Pittsburg, Pa, Oct. 25.-There
was no session of the stock exchange
today the directors having decided
to have the exchange remain closed
for the present.
Protecting Its Depositors.
Providence, r. l., Oct. 25.-The
Union Trust company, on which
there was a run, did not open for
business at 3 o'clock, the usual hour.
The following notice was posted:
This company will not open to-
day, owing TO the stringency IN the
money market" There were several
hundred people in line who wished
TO draw money. The East Green
wich branch of the Union Trust COM
pany of Providence also remained
closed this morning. notice was
posted saying that it was kept closed
for the protection of depositors.
Receivers Named.
New York, Oct. 25.-Upon appli-
cation State Attorney General Jack
son, temporary receivers were ap-
pointed today for the kniekerbockser
Trust company, Which closed its
doors Tuesday after a run by its de-
postors. The receivers are Otto T..
Barnard, Ernest Thalmann and Cen
eral Henry c. Ide, all Of New York
City.
Small Concern.
The International Trust company.
one of the small and inconspicuous
trust concerns, closed its doors at
1910 This company had business
connections with the Borough bank
of Brooklyn. which suspended to-
day, The Brooklyn bank at Fulton
and Clinton streets did not open to-
day. 1t has a capital stock of $780,
600 and owes about one million, five
hundred thousand dollars
Resumed Payment.
The Lincoln Trust company re-
sumed payment to depositors today
as usual. According to a statement
Issued June 20 last. the bank at
Providence, which closed today, had
resources aggregatng $2s,238.335,
Its liabilities Included besides $780,
600 capital stock, a surplus Of So
ESQ 900 and deposits of $25, ,465,625.
J. Edward Stadley Is president and
Marsden j. Perry first vice presi-
dent OF the institution.
Market SLOW.
The stock market opened irregu-
lar. a sharp reaction following the
opening gains. The fall IN prices
did not extend far below last nights
level before a steadying tendency de-
veloped Dealings In stocks We're
not active and the general list moved
rather narrowly.
Deposits $4,000. 900.
The First National bank OF Brook
Bn. capital 100000, suspended to-