Nineteenth Ward Bank (New York, NY)

Episode Information

Episode UID
1008471333
Episode Type
Run Only
Bank Type
state
Bank ID
100847 routing
Routing Number
1-0084
Start Date
January 9, 1911
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
421386a4363c0bfe

Response Measures

None

Events (1)
1. January 9, 1911 Run
Cause
Local Banks
Cause Details
Depositor nervousness triggered by the failure/closing of the Carnegie Trust Company and affiliated institutions.
Measures
J.P. Morgan & Co. and other financiers guaranteed obligations; large cash shipments displayed (taxicab with cash), checks promptly paid.
Newspaper Excerpt
There was some excitement in the savings department of the Nineteenth Ward Bank, 57th street and Third avenue and at its branches on 86th and 72d streets where several hundred people were in line.
Source
newspapers

Newspaper Articles (16)
1. January 9, 1911 Santa Fe New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe New Mexican, January 9, 1911

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RUN ON HARLEM BANK Depositors Were Soon Reassured and Left Their Deposits FINANCIAL CONFERENCE HELZ It Has Re-Established Stability and Confidence In Money Center. New York, Jan. 9.-The financial horizon is decidedly cleared today as the result of conferences held last night to provide against any unsettling of the stability of the financial organizations allied with the Carnsgie Trust Company. One thing appeared to be plain, that the trouble of the Carnegie Company and its allies was an isolated condition and not indicative of any wídespread trouble in the financial world. There was a slight run on the Twelfth Ward Bank in Harlem this morning, but the depositors soon were reassured and many went away without withdrawing their deposits. Morgan Will Help Banks. New York, Jan. 9.-There was some excitement in the savings department of the Nineteenth Ward Bank, 57th street and Third avenue and at its branches on 86th and 72d streets where several hundred people were in line. No disorder occurred however. J. P. Morgan has agreed to give whatever financial assistance is necessary to the Nineteenth Ward and Twelfth Ward banks.

2. January 9, 1911 Perth Amboy Evening News Perth Amboy, NJ
Article from Perth Amboy Evening News, January 9, 1911

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MORGAN HELPS SAVE THE BANK Financiers Take Over Three Institutions. New York, Jan. 9.-After forty-eight hours of conference between representatives of all the big banking houses and the clearing house It was announced that J. P. Morgan & Co. have guaranteed the solvency of the Twelfth Ward bank and the Nineteenth Ward bank, that the Equitable Trust company has bought the Madison Trust company and that these three institutions have been shorn of their Carnegie Trust company connections. The announcement was made by formal statements. They make it clear that whatever danger had been cast on the three banks by the failure of the Carnegie Trust company had been removed. Work For Grand Jury, Perhaps. The Carnegie Trust company, which was closed Saturday by the state banking department, is now beyond hope of salvation. With respectable securities to offer it could have had on the very night before the superintendent of banking descended upon it at least $1,000,000, but these securities were not forthcoming. The deposits in the company had shrunk from $18,500,000 at the time of the company's greatest prosperity in 1909 to hardly more than $1,500,000 in individual deposits subject to check at the time of the failure. To meet this steady drain the company was forced to sacrifice what reliable securities it possessed. The banking department has called in District Attorney Whitman to look into the history of the concern and determine whether or not there was any criminal liability in its management. The district attorney is silent as to what steps he is taking in the matter. It is known, however, that he worked overnight on the trust company matter late into the morning and that he held many consultations about it at his home at the Hotel Iroquois. The outcome of this labor may very well be a matter for the consideration of the grand jury. Nearly Falled In 1907. It has developed that the company nearly went under in the panic days of 1907. The general impression that the influence of Andrew Carnegie was behind the company and the fact that the name of Leslie Shaw, who 80 recently had been secretary of the treasury, was with the concern were two things that saved the trust company at that time. Of course the big steel man asíde from his friendship for Charles M Schwab had no interest In the company. More than that, he was extremely adverse to the use of his name.

3. January 9, 1911 Evening Journal Wilmington, DE
Article from Evening Journal, January 9, 1911

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WILL GUARD AGAINST PANIC New York Bankers Will Meet All Demands That May be Made on Them FOLLOWING FAILURE OF CARNEGIE INSTITUTION By United Press Leased Special Wire. NEW YORK, Jan. 9.-That the allied banking institutions of the country are prepared to prevent any disturbance of present conditions was made plain today, by the presence in the clearing house of a number of the leading captains of finance. They were on hand to take care of any runs that might develop in any New York city bank, and had available almost unlimited cash to meet demands. Through the night officials of the big banks were on duty and when the business day opened, there was an exhibition of immediate resources in every institution which might have unusual demands made upon it, such as has not been displayed since the gloomy days of 1907. "There is nothing the matter with 1" the business world and the public must be made to understand it at e once," is the word that came from J. P. Morgan and the command 01 n the "king" was literally obeyed. Over night, Morgan had clarified the t situation. By his order the Madison Trust Company, formerly the Van y Norden Trust Company was taken t over by the Equitable Trust Company. This is a $35,000,000 concern, backed e n by the Equitable Insurance Company of which Morgan is now controlling owner. y Morgan also personally assumed r responsibility for all of the obligations of the Nineteenth Ward and the p 3Twelfth Ward banks and their o branches and it was by his direction e that securities held by these two concerns which were not of a sort which e could be sold readily on the open rt market were replaced by actual cash. if Morgan and Company, Kuhn, Loeb is & Co ; the Guggenheims; Standard to Oil: Henry Phipps; Halgarten & Co., er and every big bank allied with the h. New York Clearing House stand tohe gether. he Do Protect All Banks. es The string over southern and westhe ern banks affected through the closin ing on Saturday of the Carnegie eTrust Company are also to be taken sh care of so that there will be no finanad cial disturbance in those sections. All yof their outstanding drafts will be en cashed by a coterie of banks here he while their paper will be discounted gh .0 provide them with such cash as hey may need pending the clearing ill ip of the Carnegie Trust's affairs. re At 9.30 this morning a line of about st one hundred persons had formed outze ide of the Ninetenth Ward bank. d Many of them were women and all were there to draw out the money dthey had on deposit. It was said ly that all checks presented would be in promptly paid. ny

4. January 9, 1911 The Barre Daily Times Barre, VT
Article from The Barre Daily Times, January 9, 1911

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To Allay Fears of Nineteenth Ward Bank Depositors A SMALL RUN ON TO-DAY Big Morgan Financiers Are Coming to the Aid of the Weaker Banks in New York, to Prevent the Crippling of Them. New York, Jan. 9.-The Nineteenth Ward bank. which formerly had close affiliation with the Carnegie Trust company, whose doors were closed Saturday by State Superintendent of Banks Cheney, was re-opened this morning when a taxicab landed a load of cash. Three men carried in a bag tin box the bills and gold which was sent from the Fifth Avenue bank. This was done in fall view of three hundred depositors who were lined up waiting to withdraw their savings. The cash was then displayed along the counters of the bank and many, reassured by the sight, departed without cashing their checks. All those who did present their checks were paid quickly. President Martin of the bank stated to-day that the bank "will pay all depositors wanting their money." He added: "The present run is of slight consequence. These withdrawers are of accounts. The run will probably not last the day out." The support of several small banks by big institutions is the result of the decision by the Morgan big financiers last night. Several big bankers were present in the clearinghouse this morning to aid any bank which needed support.

5. January 9, 1911 Las Vegas Optic Las Vegas, NM
Article from Las Vegas Optic, January 9, 1911

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NO REAL CAUSE FOR ALARM TRUST CARNEGIE COMPANY AN FAILURE DECLARED ISOLATED ONE STILL SEVERAL RUNS RESULT J. P. MORGAN OFFERS ASSIST. ANCE TO INSTITUTIONS AFFECTED New York, Jan. 9.-The financial situation was decidedly clearer today as the result of conferences held last night to provide against any unsettled stabi'ity of the financial organizations allied with the Carnegie Trust company. One thing appeared to be plain. That was that the trouble of the Carnegie Trust company and its allied was isolated and . the failure was not indicative of any widespread trouble in the financial world. There was a slight run on the Twelfth Ward bank in Harlem this morning, but the depositors soon were reassured and many went away without withdrawing their deposits There was also some excitement in the savings department of the Nineteenth Ward bank at 57th street and Third avenue and at its branches on 86th and 72nd streets, where several hundred people were in line. There was no disorder, however. J. P. Morgan has agreed to give whatever financial assistance is necessary to the Nineteenth ward and the Twelfth ward banks.

6. January 9, 1911 The Detroit Times Detroit, MI
Article from The Detroit Times, January 9, 1911

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CARNEGIE TRUST FAILURE DOESN'T AFFECT OTHER BANKS J. P. Morgan and Other Financiers Stand Together To Meet Any Emergency. NEW YORK, Jan. 9.-That the allied banking institutions here are prepared to prevent any disturbance of present conditions was made plain today by the presence in the clearing house of a number of the leading captains of finance. "There is nothing the matter with the business world, and the public must be made to understand it at once," is the word that came from J. P. Morgan. By Morgan's order, the Madison Trust Co., formerly the Van Norden Trust Co., was taken over by the Equitable Trust Co. This $35,000,000 concern backed the Equitable Insurance Co., of which Morgan is now controlling owner. Morgan also personally assumed responsibility for all of the obligations of the Nineteenth Ward and the Twelfth Ward banks, and their branches, and it was by his direction that securities held by these two concerns which were not of a sort which could be sold readily in the open market, were replaced by actual cash. Morgan & Co., Kuhn, Loeb & Co., the Guggenheims, Standard Oil, Henry Phipps, Halgarten & Co., and every big bank allied with the New York clearing house stand together. The string of southern and western banks affected by the closing on Saturday of the Carnegie Trust Co., will be fully taken care of. Statements by Morgan & Co., President Krech, of the Equitable Trust Co.; A. Barton Hepburn, president of the Chase National bank, and the Clearing House association; Bradley Martin, Jr., and Supt. of Banks Cheney, all of a character intended to reassure the timid regarding the stability of all of the banks affected by the Carnegie Trust Co.'s failure, were given widespread publicity early today and had their effect as was planned. At 9:30 this morning a line of about 100 persons had formed outside of the Nineteenth Ward bank. Many of them were women and all were there to draw out the money they had on deposit. It was said that all checks presented would be promptly paid. There were 300 depositors in line at the Ninteenth Ward bank when the paying teller's window was thrown open. All were paid off as rapidly as possible. President Bradley Martin, Jr., said: "We will pay off all depositors who want their money. The run is of little consequence, inasmuch as those who are withdrawing cash, are people who had only small amounts on deposit.

7. January 9, 1911 The Richmond Virginian Richmond, VA
Article from The Richmond Virginian, January 9, 1911

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MORGAN AT HELM; SITUATION CLEARS (Continued from First Page.) Equitalbe Trust; A. Barton Hepburn. president of the Chase National Bank and the Clearing House Association: Bradley Martin. Jr., and Superintendent of Banks Cheney. all of a character intended to reassure the timid regarding the stability of all the banks affected by the Carnegie Trust Company's failure were given widespread publicity early to-day and had their effect as was planned. Small Run Promptly Met. At 9:30 this morning a line of about 100 persons had formed outside of the Nineteenth Ward Bank. Many of them were women and all were there to draw out the money they had on deposit. It was said that all checks presented would be promptly paid. Taxicab Pull of Cash. Just before the Nineteenth Ward bank opened for business a tabicab laden with cash rolled up to the doors. It came from the Fifth Avenue bank and three men carried in a big tin box in view of the line waiting to withdraw their funds. A large amount of bills and coin was displayed along the counters and this had a reassur. ing effect on some in the waiting line who left without presenting their checks, Most of the foreign element, however. insisted on getting cash. Nineteenth Ward Bank Pays Promptly. There were three hundred depositors in line at the Nineteenth Ward bank when the paying teller's window was thrown open. All were paid off as rapidly as possible. President Bradley Martin, Jr., said: "We will pay off all depositors who want their money. The run is of little consequence inasmuch as those who are withdrawing cash are people who had only small amounts on deposit. The run will probably not last over to-day." ward that it would not only greatly Short Run on Twelfth Ward Bank. There was a short run on the Twelfth Ward Bank. A. Nichols, president of the Harlem Board of Trade, made a speech to the waiting line of depositors, saying that their money was as safe as if the government controlled the institution. and most of them left without withdrawing any money.

8. January 10, 1911 The Evening World New York, NY
Article from The Evening World, January 10, 1911

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Didn't Risk a Cent and His Equitable Trust Absorbs Madison Institution. GOLD IS UNTOUCHED. Big Packages Sent to Avert Run Are Not Even Opened. In saving the Madison Trust Comany, the Nineteenth Ward Bank and be Twelfth Ward Bank from going the wall by the mere lending of his name to these institutions Mr. Morgan has added about $20,000,000 to the ten billions of dollars he already has under his control, and at the same time obtained possession virtually of the Madison Trust Company. It was learned to-day that the house of Morgan did not put up so much as a cent, because after the publication yesterday that Morgan had come to the rescue of the banks and trust company the Institutions threatened were able to meet the demands made on them from their own resources. Although money was sent to all the banks to be on hand in case it was needed, the big packages of gold and currency were not even opened. Bound to Avert Panic. Business men. and the public generally interpreted Morgan's intervention to mean that powerful financial interests had determined there should be no repetition of the monetary panic of 1907, and that any bank which might be in trouble would be supported. That, practically, is the situation, it is said, and although stockholders may have to pay dearly, the depositors will be protected. In addition to being willing to drive a good bargain the Morgan interests, it is asserted, do not desire any finanetal disturbance at this time, causing, as it would, the securities held by the various banks to be thrown on the stock market and reducing the prices there they have been so anxious to maintain. The Carnegie Trust Company synd:cate paid $315 a share for the Van Norden holdings in the Madison Trust Company. Mr. Morgan has agreed to take them over, it is understood at book. or liquidation value, which it is estimated will be about $184 a share. Got a Bargain Rate. According to Wall street information, the Mndison Trust Company was virtually forced into the Morgan arms. It was said that the Morgan interests for a long time had been determined to eliminate the Carnegie Trust Company and obtain control of the Madison, the majority of the stock of which was held by,a syndicate of Carnegie directors. In support of this a remark said to have been made by Joseph T. Howell. President of the Carnegie Company, was quoted. According to this Mr. Howell had said that the sudden closing of his company by the State Banking Department had been an outrage. Whether or not Mr. Howell made this remark, the sentiment attributed 10 him was held by many of his directors. "The company is absolutely solvent and will pay dollar for dollar," said former Judge Keener, one of its directors. Forced to Go to Morgan? "How, then, do you explain the action of the State Banking Department: he was asked. "That is for them say," he replied, with a shrug. To continue the Wall street story the Nineteenth and Twelfth Ward banks were forced by the State Banking Department to go to the Morgans for aid. The Nineteeuth Ward, it was said, had about 35 per cent. of its deposits in actual cash, and about $1,500,000 in commercial paper 50 good that it could have been sold anywhere. The State Banking Department, it was asserted. declined to give the management time to sell this and informed the bank that it would take possession on Monday morning if the institution had not by that time obtained the support of strong banking

9. January 10, 1911 The Washington Times Washington, DC
Article from The Washington Times, January 10, 1911

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New York Banks Back To Normal Conditions NEW YORK, Jan. 10.-Normal conditions prevailed at all of the banks today, the slight run on the Nineteenth and Twelfth Ward banks and the Madison Trust Company which prevailed yesterday not being renewed. It was stated by State Superintendent of Banks Cheney today that the affairs of the Carnegie Trust Company will be liquidated at once and no attempt will be made to put the institution in shape to continue business. Just before 11 o'clock today $1,000,000 in bills, packed in three suit cases, arrived at the Nineteenth Ward Bank, from the offices of J. P. Morgan & Co. President Bradley Martin, jr., of the bank, said the money really was not needed by the institution, but had been sent there as a precautionary measure.

10. January 10, 1911 The Cairo Bulletin Cairo, IL
Article from The Cairo Bulletin, January 10, 1911

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SITUATION IS AGAIN NORMAL GOOD WORK ACCOMPLISHED IN BANKING SITUATION IN NEW YORK CITY. DEPOSITORS REASSURED Stock Market is Optimistic, and Joseph G. Robin, the Indicted Banker, Remains in the Tombs Prison. New York, Jan. 9.-Aside from progressive work of reorganization and reconstruction in affected institu tions, which will necessary extend over the first few weeks of the new year, the banking situation is normal tonight. Timid depositors are reassured, the stock market is optimistic and Joseph G. Robin, whose operations caused the flurry, remains in the Tombs. With powerful interests behind the Tweltf Ward Bank and the Nineteen th Ward Bank and with the absorp ilon of the Madison Trust Company by the Equity Trust Company, two institutions whose integrity had been questioned because of alleged affiliations with the Caruegle Trust Company, closed as the result of Robin's operations, weathered today, not only successfully, but with suggestiveness that there were no runs and almost normal deposits. Last night's consultation between financiers had laid a strong ground work which proved adequate to avert any serious complications. Another member of the Robin family entered the Tomos today. Dr. Louise Robinovitch, sister of Robin was indicted for perjury and remanded in default of $3,000 bail. She had sworn in an effort to have Robin conmitted to an asylum and his estate taken over by a committee, that she and her brother, Edward, known as Edward Robinson, were his only heirs at law. But Investigation dis closed an aged couple which the prosecution contends are the parents of Robin On this discovery the indictment is based. After Dr. Robinovitch has been indicted she was arraigned in the court of general sessions where she entered a plea of not guilty. Chas. Hyde, the city chamberlain, who was sought as a witness by the legislative graft committee and who is now sought by the city off!cials to look after the city's interests in view of funds deposited in some of the banks involved in the trouble, was still missing tonight. Controller Pendergast sent a spec ial message to the mayor today ask ing for a meeting of the banking commission to consider the matter. In the course of the day Andrew Carnegie issued a statement denying any connection with the Carnegie Trust Company, and reissuing a letter published in 1906 objecting to the use of his name.

11. January 10, 1911 Evening Journal Wilmington, DE
Article from Evening Journal, January 10, 1911

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been after it ever since it was reorganized from the old Van Norden Trust Company. How He Will Pay For Them. To pay for the three institutions it is expected Morgan will increase the stock of the Equitable Trust Company and exchange it for the outstanding shares of three companies, making the actual cost to Morgan personally only about what the engravers' bill will be who furnishes the new stock. The $20,000,000 of assets of the three concerns which were in danger will add materially to the attractiveness of the Equitable Trust Company's balance sheets hereafter, in the opinion of financial experts, who have watched the present situation. Normal conditions prevailed at all of the banks today, the slight run on the Nineteenth and Twelfth Ward Banks and the Madison Trust Company, which prevailed yesterday not being renewed. It was stated by State Superintendent of Banks Cheney today that the affairs of the Carnegie Trust Company will be liquidated at once and no attempt will be made to put the institution in shape to continue business.

12. January 10, 1911 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, January 10, 1911

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BANK SITUATION IN NEW YORK IS BETTER Financiers Come to Rescue of Carnegie Trust ROBIN IS NOW IN PRISON Another Dramatic Scene Is Enacted in Court When Members of Robin's Family Meet Face to Face New York, January 9.-Aside from progressive work of reorganization and reconstruction in affected institutions which will necessarily extend over the week, New York's banking situation is normal tonight; timid depositors are reassured, the stock market is optimistic and Joseph G. Robin, whose operations caused the flurry, is still in the Tombs. With powerful financial interests behind the Twelfth Ward bank and the Nineteenth Ward bank and with absorption of the Madison Trust company by the Equitable Trust company, these three institutions whose integrity had been questioned because of affiliations, direct or indirect with the Carnegie Trust company, which was closed as a result of Robin's operations, weathered the day not only successfully but with such aggressiveness that there were no runs and almost normal deposits. Some uneasy depositors were out early to get their money but last night's consultation between financiers had laid a strong groundwork which proved adequate to avert any serious complications. Another member of the Robin family entered the Tombs today. Dr. Louise Robinovitch, sister of Robin, was indicted for perjury and remanded in default of $3000 bail. She had sworn, in an effort to have Robin committed to an asylum and his estate taken over by a committee, that she and her brother Edward, known as Edward Robinson, were his only heirs at law. But investigation disclosed an aged couple which the prosecution contends are the parents. On this discovery the indictment is based. There was enacted, as the grand jury filed forthwith the indictment against Dr. Robinovitch, a scene similar in dramatic aspect to the recent repudiation of the old pair by Robin. Both old persons had been witnesses before the jury as had the alleged son, Edward Robinson. When they met face to face, in the court room, the elderly woman attempted to throw her arms around Robinson's neck, but he drew back and repulsed her. "Is that your father and mother?" Robinson was-asked. "I am not sure," replied Robinson. "I know these people and have known them for a number of years. We caine to this country with them, and as a youngster I always thought that they were my parents. But of late something has happened which leads my brother and myself to the belief that they are not our parents. We have the evidence which proves it." "Have you seen them lately?" was the next question put to Robinson. "Yes, I have seen them about once a month for many years. My brother and myself looked after their wants. That is all I can say.' After Dr. Robinovitch had been indicted she was arraigned and entered a plea of not guilty. Justice Page in the supreme court today appointed Maurice Deiches, a lawyer, receiver for the property of the Aetna Indemnity company in the state of New York with a bond of $50,000. The company collapsed after the Robin exposures and a court in Hartford appointed Theodore McDonald receiver for its property in Connecticut. The company is a Connecticut corporation with a capital stock of $350,000.

13. January 12, 1911 The Mitchell Capital Mitchell, SD
Article from The Mitchell Capital, January 12, 1911

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TO STOP RUNS ON NEW YORK'S BANKS Takes Over Trust Company Affected by Carnegie Failure. NOTHING WRONG With Business World, He Says, and Public Must be Made to Know it. RUN ON WARD BANK CHECKED AT NOON. New York City.-The line of depositors in front of the Nineteenth Ward bank withdrawing It money dwindled at noon. was at first thought to be over. At one time $1,300,00 in gold was in sight on the counters. J. P. Morgan & Company guaranteed the depositors to the amount of eight million dollars. New York City.-J. Pierpont Morgan heads a group of big bankers and financiers, including the Standard Oil Company and the big insurance companies, who wil back all the New York Clearing House officials today, in standing behind all city banks to prevent a run. Not since 1907, when he stopped an incipient panic, has Morgan shown his force so strongly "There is nothing the matter with the busines world and the public must be made to know it at once," Morgan declared. Morgan ordered the Madison Trust company taken over by the Equitad ble Trust company. This is a $35,000,000 concern backed by the Equitable Life Insurance company, which Morgan controls. Morgan also has assumed the obligations of the Nineteenth and Twelfth Ward banks in this city. The southern banks injured by the failure of the Carnegie Trust company Saturday are also to be taken care of. d How Others Are Affected. Several of the directors of the Carnegie Trust company are directors of the Nineteenth Ward bank, and Bradley Martin, jr., whose name still appears on the stationery of the trust company as vice president, although he recently resigned, is now president of the Nineteenth Ward bank. He said that there is no connection whatever between the two institutions and that the closing of one would not affect the other. In 1909 when the Carnegie Trust company was under the presidency of the late C.C. Dickinson, who died mysteriouslyy last May, an effort was made to consolidate the Carnegie Trust company, the Nineteenth Ward bank, the Twelfth Ward bank and d the Van Norton Trust company under the management and name of Carnegie. Although Mr. Dickinson had been a state bank examiner, he was non persona grata to the state banking department, which forbade the merger under a ruling that it would be impossible for a trust company to consolidate with state banks. Recently the Van Norden Trust company changed its name to the Madison Trust company, and Bradley Mard tin, jr., was elected to the presidency. d Bank's Collapse No Surprise. The closing of the Carnegie company was no surprise in financial circles and caused little disturbance on the stock exchange. A brief fall in the market Saturday was quickly met by supporting orders and at the a close the tone was firm. On the street the uncertain status of the company had been a matter of comif mon knowledge. In its brief career-it was organd ized in 1901-it had already passed through one serious period of de-

14. January 12, 1911 The Dillon Herald Dillon, SC
Article from The Dillon Herald, January 12, 1911

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MORGAN A BUCCANEER. Hailed 24 Hours Ago As Saviour of Three Banks-Now Charged That He Wrecked Them Deliberately. New York, Jan. 10.-While J. P. Morgan was hailed 24 hours ago as the saviour of three New York banks, sober reflection on the part of various financial leaders not in the Morgan camp to-day led them to renew his appellation of "financial buccaneer." Following revelations that if the Carnegie Trust Company had been given 24 hours longer it would have been able to continue its financial operations, Wall street dealers declare that Morgan had manipulated cleverly to force a merger of the $20,000,000 Madison Trust Company with his $35,000,000 Equitable Trust Company. According to a report current in the financial district Mr. Morgan had forced the hands of his opponcuts and practically bagged three new banks in so doing; the three being the Madison Trust, the Twelfth and Nineteenth ward banks. The Madison Trust Company is now Morgan's but how far his ascendency goes over the other two institutions has not been made public. It is understood, however, that he torced an agreement to the effect that the Carnegie Trust Company shall not be re-organized. The assertion is made that the house of Morgan did not expend a cent but merely lent its name to avert financial crashes that might have had a national bad effect. The money sent by J. P. Morgan & Co. to the banks in question was not needed and was returned. Much of it war not opened. The Madison Trust Company and the Twelfth ward and Nineteenth ward banks opened their doors at the usual hour to-day. There was a slight run on the savings department of the Nineteenth ward institution. About 50 persons, most of them women, were waiting to make withdrawals when the savings department was opened. They were paid promptly. I In the check department of the Nineteenth ward bank there were more persons waiting to make deposits than withdrawals. , Superintendent of Banks Cheney said to-day that the financial situ: ation had cleared up entirely and added: "I give you my word that not another bank or trust company under the jurisdiction of our department is under the least suspicion." Just before 11 o'clock to-day $1,000.000 in bills, packed in three suit cases, arrived at the Nineteenth ward bank, from the offices of J. P. Morgan & Co. The money was taken there by three men, who rode in a taxicab. President Bradley Martain, Jr., of the bank, said the money really was not needed by the institution, but had been there as a precautionary measure. There was no run on the check department of the bank during the morning. AAA

15. January 12, 1911 The Guthrie Daily Leader Guthrie, OK
Article from The Guthrie Daily Leader, January 12, 1911

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GOTHAM BANKS SAVED Powerful Financial Interests Come to Aid of Affected Institutions (By Leased Wire) New York, Jan. 11.-Aside from progressive work of reorganization and reconstruction in affected institutions which will necessarily extend over the week, New York's banking situation is normal tonight, timid depositors are reassured. the stock market is optimistic and Joseph G. Robir. whose operations caused the flurry. remains in the Tombs. With powerful financial interests behind the Twelfth Ward Bank and the Ninteenth Ward bank and with the absorption of the Madison Trust company by the Equitable Trust comjary. these institutions whose integrity had been questioned because of alleged affiliations with the Carnegie Trust company, closed as a result of Robin's operations, weathered the day not only successfully, but with such aggressiveness that there were no runs and almost normal deposits. Last uight's consultation between financiers had laid a strong groundwork, not proved adoguate to avert any serious complications.

16. January 18, 1911 Vilas County News Eagle River, WI
Article from Vilas County News, January 18, 1911

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SUPPORT HALTS BANK TROUBLES Quick Action by Big Interests Prevents Possible Runs. New York.-Owing to the quick and strong support given by J. P. Morgan & Co., Kuhn, Loeb & Co. and other powerful banking interests to a situation that for a short time was delicate, the city of New York was saved from bank runs that might have led to general excitement and temporary financial derangement. When it became known that the interests named had organized themselves into a committee of defense against the probable bad effects of the failure of the Carnegie Trust Co., the apprehended runs on the Madison Trust Co. and its subsidiaries, the Twelfth Ward bank and the Nineteenth Ward bank, with several branches scattered through the city and all affiliated with the unfortunate Carnegie Trust Co. were virtually averted. Although there were steady withdrawals from these banks and their several branches all day, at no time was there a panicky feeling.