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CYCLONE IN FINANCE. remendous Crisis In New Yo Quickly Averted. The financial uncertainties which been disturbing Wall Street f months past, came to a tempo crisis on Tuesday, that came nea recedented mashing rust company, things. run on the There the second Knickerbock was an large un company of New York. The rt arted without much warning an up until the company was force closed its doors at 12.30 for lack arther funds. During the day near TI 8,000,000 was paid to depositors. company had been promise 15,000,000 from other banks; but b of disclosures in connection with Morse-Heinze affair of a few da: /hen the the money that bank it was closed, had not plenty it forthcomin assured of mean I istomers which to pay all of its deposito could easily do SO within the ne: days. The depositors of tl nickerbocker Trust company include large proportion of wealthier Ne orkers, and after the run starte oney came out in great chunk /hen the suspension of payment wa nally announced the sidewalks of the main bank as well as two branch banks in other par the city were still crowded. Ne the run was resumed, and wa ontinued until the company had ispend again. A run was started o Trust Company of America ear /ednesday morning; but that concer to have plenty of money as the close of the day confidence in a large measure restored. stated that Secretary Cortelyou can the relief of the situation by de ositing about $25,000,000 of govern funds in various of the New Yo anks. A dispatch of yesterday tel story of the crisis as follows: As a result of today's developmen the financial world there is ever dication that the crisis in the banl and trust company situation ha safely passed. The Trust con any of America all through the day anking hours paid out money to de ositors as rapidly as possible an osed the day with all demands hay been met. A very favorable fea of the situation respecting th ompany was that it was able to mal payments with very little assis and another was that the con received over its counter in tl orning hours in ordinary deposi than $1,000,000. The general in ression in financial circles that th ompany having withstood a two day with so little trouble was undoub in good condition to continue i usiness and in fact that company an affairs were not considered as any longer in the general situa As the Trust Company of Ame had been the centre of the rece nancial storm it was accepted th ability it had thus shown to weat the storm was a clear indication th financial sky had cleared and th period of fair weather was now we sight. Three Notable Episodes. The day was marked by three not orthy episodes. First and earlie the day came the announcement ouble in three minor state banks tl arlem, the Hamilton Bank, welfth Ward Bank, and the Empi Savings Bank. These banl ansacted only a neighborhood bus and their suspension of payment absolutely without significan earing on the general situatio Bank Examiner Judson, hov declared this afternoon that a were solvent and that their de ositors would lose nothing. The second episode was a run in ugurated against the Lincoln Tru The against this con ompany. the was sums steady run withdrawn throughout were the da n At the close of the day tl ompany's official announced that the fully able to meet all obligation Morgan's Helping Hand. By far the most notable, even dra episode of the day was the em) of millions of money into tl tock exchange through a pool head J. P. Morgan and other financie order to avert a ruthless selling o stocks held by brokers which w: reatened because of their inability btain renewals of loans on which stocks had been carried. A r arkable condition brought about th treme stringency in money which gradually forced the interest ra ertain to resources an large almost interests had unprecedented been of charging great figur finar r ently what was in effect, if not lega usurious rates of interest on ca One institution that had be agaged in this practice was itself
