The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-10-24

them, the supply being maintained by
heavy shipments of currency from the
treasury at Washington.
1t was announced early this afternoon
that John d. Rockefeller had deposited
$40, 900, 900 with the Union rus Com
pany, one of the city's oldest n
strongest trust companies, the money to
be used by that company in aiding the
trust company situation generally.
The suspension of the Hamilton Bank
was announced at 9 o'clock this morn
ing. It's place IF business is in 125th
street, near Eighth avenue. The ex-
PLANTATION is given that pending the
complete restoration of public conf
dence the officers had concluded to
close in justice to all concerned,
Following the announcement of the
suspension of the Hamilton Bank came
the news that the Twelfth Ward Bank,
located at 125th street and Lexington
avenue, had suspended payment. The
Twelfth Ward Bank is a State insti-
tuition, and a State bank examiner has
been placed in charge of it's affairs.
According to a recent statement the
institution wed depositors about 49,
600, 900.
The Empire City Savings Bank. To-
Gated at 231 West 125th street, posted
a notice this morning announcing Its
suspension for thirty days under the
banking laws. The officials of the bank
declare hat the institution is entirely
solvent, but that they decided to avail
themselves of the thirty days notice
of withdrawal under the State law,
because they feared a run owing to the
suspension of payment by the Hamil-
ton and Twelfth Ward banks in the
same neighborhood. The Empire City
Savings Bank, according to a recent
statement, owed its depositors about
49, 800, 900.
The run on the Dollar Savings Bank.
in the Bronx, which began Tuesday
continued today. Nearly 300 depositors
waiting for an opportunity to withdraw
their savings were lined up outside
the building when daylight came. Many
of them, a majority of whom were
women, a stood all night in the
line. A large percentage of this banks
depositors are foreigners.
The stock markets expression at thu
outset to the feeling of satisfaction
over the measures announced ovel
night to end the financial crisis at
tracted attention at once. Active buy
ing orders were numerous and a buoy
ant upshoot of prices resulted. Tho
opening pace proved too rapid to b'
N aintained, however, and here wa;
some reaction, but the activity i'm
mediately diminished at h lower
prices. Westinghouse Electric rose II
and American Tobacco preferred Az
There were advances Of 2% to IL IL
market leaders. but in a few stock:
the press ure of liquidation still mad'
itself felt, SAUL Saint Marie running
off Az. Southern Pacific preferred 2b
ACKNOWLEDGEMENTS preferred
and Sugar IL, and Missouri Pacific
and Toledo. ST. Louis M Western {
point.
All the overnight developments ar
declared to be r~eassuring. The serieI
Of conferences last night, participated
in by Secretary Cortelyou, J. Pierpon
Morgan, John A. Stewart. James Still
man and other representative bankerl
and men of affairs, disclosed an agree
ment in the opinion that the situation
is well in hand and that with the $25.
900. 900 government depc sits to be mad
by Secretary cortelyou today Their
will not only be enough cash on hand
but even more than might be needed
to meet safely n emergency.