The Sentinel=record., 1911-08-12

clearing house examined all of the se- curities. Mir. Tnorne said he toia Mir. Perkins and Mir. Davidson the exact condition and that he had sl2.- O0O,O00 on hand that night.
 On the morning of October 23rc, there appeared an article in the New York Times in wEich the Trust Com pany of America was pointed out as the chief sore point and details were given of midnight conference of bankers at the Manhattan hotel Secretary Cortolyou, M. Morgan. MT. Perkins and others, where plans wero made to save the Trust Company of America.
 Thorne said he knew nothing 3f the conference, was not invited. Nei- ther Perkins or Davidson said any thing about his situation being criti- cal.
 Thorne then told of the run on his bank on the following day and the necessity to call for nelp.
 One million dollars Mir. Thorne said was loaned him by J. P. Morgan and Company, ~the First National bank and the National City Bank. MT. 1hprne added that he had oota:ned s1,50O.000 that afternoon from the Hanover National Bank tided the sit- uation over until closing bcurs. He explained how that afternoon Mir. Morgan had called the trust company presidents of New York 10 mee. at tie Union Trust Company and he was called in, He met there Morgan, stillman. Woodward, King and other bankers.
 An arrangement made 70 ioan him s10, 0,00O.O00 on s2O,0OO,000 of securities which committee of the bankers was to select. IA contract was made for this loan. the original of which MT. rnorne sumbtted for the record. The following morning he received s6,- 0)0 900 of this loan and the remaind- CT in various sums up to October II.
 He reviewed another loan of $15, 100000 for s30,0O0,000 of advanced money by the bankers on November |6, but paid to him in various sums from time to time He explained ne never knew where the money actually came from and that MT. Morgan. MT. Perkins and the others who were raising it had great difficulty in get ting 1t.
 Mir. Thorne also told how he be- |gan paying back the loans as rap idly as the Trust Company securi' ties could be realized on.
 At the present time ne said. the trust company had assets of sis,00O,. eco.
 MT. Littleton had put in the re |cord a statement given to the press by MT. Thorne on November 6, in which he alluded to his utter amaze ment" that the chief force Of :he panic had been directed against the Trust Company of America.
 Mir. Littleton asked the witness 1T he had conferred during that time with Melville E. Stone. general man. lager of the Associated Press. He said he had
 T had never known Mir. Stone un- til the time of that panic.' MT. Thorne stated "I met him then and went to see him practically every day :. | insisted that tho Trust Company |of America was solvent and that the examiners who looked into the con. dition of the company should make a report. It was my idea if the re port showed the company solvent we would be taken care of"
 Were you endeavoring to have the knowledge of your condition wide spread?"
 My idea of talking to MT Stone was to urge the necessity of the ex- amining committee making a report to Mir. Morgan. I knew if the truth of the situation got to MT. Morgan We would get help. When later ne did get the truth We got the s15,OOo, 900. T Asked if he had received com munication from MT. Stone regarding that natter MT. Thorne said he hac and he produced it It was read in to the record, written under date ot November IS. 1907. In the letter MT. Stone said:
 T have no doubt that MT. perkin: statement on the night of the z2nC distinctly emphasized the trust com pany of America if indeed 1t did no precipitate 1t. did not mean b. this that I think there was the slignt est purpose on the part of MT. Per
 kins to injure you or the Trust Company of America. But We feI that the statement was so inJudiciou
 that we did not send 1t out Later