1019171294 101917
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NEW YORK SITUATION BRIGHTER, BUT THREE MORE BANKS SHUT TO THE PEOPLE:-There is no doubt that the Providence Banking Institutions are sound, ably conducted Small Institutions, the Hamilton, nd have ample resources. DON'T BE FRIGHTENED ! Empire City Savings and 12th Ward Banks, Suspend Payments. More Money Deposited in Trust RUN ON UNION TRUST CO. GARDNER TELLS Company of America Than Taken Out-"Things Look Pretty Good BY SMALL DEPOSITORS Now," Says Sec'y Cortelyou. WHY HONEST MEN
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We Have Just Received a Lot of Italian Hand-Painted China OCALA MUSIC CO. THE RECEDING WAVES by the Union Trust Company, on which a run was made, that it had the Financial Storm Wreck a Few suspended payment temporarily. C. S. Sweetland was appointed receiver. Small Institutions. The institution has individual deposits New York, Oct. 26.-Notwithstandexceeding $25,000,000. the opinion of leading financiers, Runs on the Lincoln Trust Co. and the worst of the financial flurry the Trust Company of North Amerover, four bank suspensions OCica and other local institutions conrred yesterday. tinued, but the worst is over. The Pittsburg stock exchange is The United States Exchange Bank, still closed. Harlem institution, did not open for
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New York, N. Y., Nov. 6.-General conditions in the financial situation were favorable today. Runs on trust companies had practically ceased under the encouraging support of the trust compact. Gold engagements were further increased and the stock market rose buoyantly. The announcement by Mr. King, president of the Union Trust Co., early in the morning that aa agreement had been reached by which the Trust Company of American and Lincoln Trust company were to deposit their stock with a committee of trust company presidents and in consideration of this, were to receive all the support required, cleared the trust company situation. Now that this danger is removed, it is believed the situation will gradually simmer down with the continuous arrival of gold, until the stringency is converted into a plethora of reserve money in the banks, which usually follows a crisis. Additional gold engaged was announced today of $1,000,000 on account of Lazard Freres and $500,000 for Montreal. This brings the total gold engagements for America to $37,500,000, which would make a legal reserve against deposits of $150,000,000. The gold which arrived yesterday was deposited today and that brought by the Lusitania will soon be in the vaults. While there is still some apprehension regarding the possible effort of