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ency of clearing house banks. a There was nothing even resembling run on any of the banks which the clear ing house had declared itself ready to save. One or two of these banks, in fact. were stronger in cash at the close of business than at the beginning, having secured the repayment of loans to an amount much greater than the with drawal of deposits. In the stock market the restoration of confidence was manifested by the most active and substantial upward movement of prices that has been witnessed at any time within the past month. The clearing house made good its declaration to assist the clearing house banks in any way that the committee might consider necessary It advanced $2,000,000, giving most of this to the Mercantile National, and the balance, probably not much more than $100,000. to the New Amsterdam. The Mercantile had a debit balance of $1,903,000 at the clearing house in the morning, showing heavy withdrawals of deposits on Saturday. The debit balance of the National Bank of North America was $850,000; of the Mechanies and Traders: $430,000. and of the New Amsterdam National, $200,000. No Aid Is Needed. The Mechanics and Traders which has at no time been criticised and has maintained its reserve well above the legal requirements, was not thought of as a bank needing assistance. Its debit, balance was due, it was said, merely to the fact that the Thomases were hold-over members of the board. not to any suspicion that they had operated in the affairs of the bank The National Bank of North America started the day under the new regime with $1,400,000 in cash. Large heaps of gold were piled up OIF the counter in full view of any depositors who entered the bank. It paid its balance at the clearing house without assist ance from the clearing house banks and collected in the course of the day some $1,750,000 by the calling of loans Energetic calling of loans was suggested to the bank as preferable to reliance on the clearing house for funds. Seek to Repay Loans, The discharged directors, the Heinzes, the Thomases, and Charles W Morse, were formally eliminated from the banking institutions in accordance with the arrangement made in preceding days. There was plenty of evldence that they were doing their best to make good their promise to pay off loans in the Morse-Thomas-Heinze string of banks. Consolidated Steamship bonds were slaughtered on the curb. United Copper stock went at whatever price could be secured and there were extensive and costly bargain sales of American Ice securities, Davis Daly Copper, Nevada Utah Copper, and others of the securities promoted by the syndicate. Twenty-three hundred shares of American Ice securities, which sold above par last January, went between 15 and 20. Consolidated Steamship bonds to the par value of $1,161,000 were sold at prices ranging between 123% and 16. United Copper, 7,100 shares of it. was disposed of at prices ranging between 73/4 and 91/2, as comfared with a price of 60 only one week before There was no bid, so far as reported, for Western Ice and Morning Telegraph bonds, the Thomas specialties of 1907. To all appearances, trading in them was as dead as in General Carriage, the notorious specialty which they were interested in several years ago. Heavy Drop in Davis Daly. The Thomases were. however, credited with sales of Davis Daly Copper. This was a stock brought out by the Heinzes at the time they made their alliance with the Thomases and Mr. Morse in the Mercantile The Heinzes persuaded the Thomases that they were unearthing another Minnie Healy, and the Thomases hastened to purchase as much of it as possible at prices around 20. To-day there was sold 4,500 shares of it at prices ranging between 31-2 and 41-8, In return for the tip on Davis Daly, it was said, the Thomases tipped the Heinzes off to Western Ice, and blocks of that stock are accordingly supposed to be in the collection of the Heinzes' indigestible securities. Twenty-five banks, it was learned, cooperated in extending assistance to the banks needing it. Their advances were voluntary and were separate from all clearing-house transactions The clearing-house committee met early in the morning, while the clearances were in progress, and an extended conference was held after the close of bank ing hours. Further meetings will be held daily until the situation is entirely clarified. Some of the loans of the MorseThomas-Heinze interests in the Mercan tile National were paid to-day. More, It is expected, will be paid to-morrow, when collections will be made on the securities sold to-day. No estimate of the aggregate amount of these loans in the various banks was given out by the clearing house committee to-day, but it was reported that the Heinze loans alone in the Mercantile aggregated $2,000,000. An estimate of the Morse.loans it was said, was impossible, for the reason that they are scattered all over the country, with bank stocks and other securities as collateral State Head of Banks Quits. Albany, Oct. 21.-Luther W. Mott, of Oswego, who was recently appointed State superintendent of banks by Gov. Hughes, resigned to-day, giving ill-health as his reason. It is understood, however, that Mr. Mott had recently been looking into the banking situation in New York City and became greatly discouraged by the outlook. It is understood that in his present state of health he regarded the work involved as too arduous for him to undertake. Canture Runawar Boy
