1.
October 24, 1907
The Washington Times
Washington, DC
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Work to Continue At Westinghouse Electric Plants PITTSBURG, Oct. 24.-"The plants of the Westinghouse Electric and Manufacturing Company will be kept in full operation. Action has been taken to provide for this. You can say positively that the plants will be kept in full operation." This was the statement today made by Hart Given, president of the Farmers' Deposit National Bank, one of the receivers of the Westinghouse interest, appointed yesterday. The local financial situation today seems to indicate that no serious results will be felt here from the New York storm, The United States court has appointed H. S. A. Stewart and William Abbott receivers of the Iron City Trust Company. The assets exceed $4,000,000, while liabilities are only $1,700,000. The action was brought about as a result of the appointment yesterday of receivers for the various Westinghouse interests, and was decided as the best method of preserving the interests of depositors and stockholders. It is not expected to have any effect on other institutions. The Iron City Trust Company is declared to be solvent, and only took the sten as a precaution. This is the only depository here, except the Westinghouse Securities Company, that has applied for a receiver. Government aid in sending several milllons of dollars to local banks is regarded as assuring against any difficulty whatever in local financial circles. All the leaders in money matters here emphatically avow the soundness of Pittsburg banks and trust companies, and that no apprehension need be felt. It was decided not to reopen the Fittsburg Stock Exchange today, after a meeting of the board of directors The decision was unanimous. No official statement was made other than that the exchange would not open. Asked as to when it was likely business would be renewed, an official who does not want to be quoted, stated that it was hard to tell. This is taken to mean that the exchange will be closed until the storm in New York subsides.
2.
October 24, 1907
The Topeka State Journal
Topeka, KS
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e Southern Steel in Trouble. 1 Birmingham, Ala., Oct. 24.-An involuntary petition in bankruptcy was filed in the federal court this afternoon against the Southern Steel company. The creditors seeking the bankruptcy order are the Birmingham Coal and Iron company, the Sayre Mining and Manufacturing company and the Cahaba Coal company. The Southern Steel company is capitalized at $25,000,000 and owns a big steel plant at Gadsen and a steel road, wire and nail mill at Ensley. It also owns coal mines at Altoona and Virginia City and Ore mines throughout the Birmingham district as well as coke ovens and other properties. STOCK EXCHANGE STILL CLOSED But Pittsburg Financial Situation IS Said to Be in Good Shape. Pittsburg, Pa., Oct. 24. As was expected the stock exchange remained closed today. In well informed circles it is said the exchange will not resume business until next Monday. The local financial situation is in good shape and is under perfect control, according to statements by prominent bankers today. All say that yesterday's flurry has passed. The suspension of the Iron City Trust company last night and the appointment of receivers for the institution has had no apparent effect on the situation. It is known that the company was liquidating for the purpose of going out of business. When the embarrassment of the Westinghouse companies became public, it was feared a run would be made on the trust company and it was decided to place the institution in the hands of a receiver. A prominent financier said today that he knew the trust company can pay $135 a share to stockholders. The receivers for the Westinghouse Electric and Manufacturing company denied a report that the operations of the plant would be discontinued. The court today authorized the receivers to pay the employes, four hundred in number, at Trafford City $25,000 for wages due from October 1 to October 23, and the 3,500 employes at East Pittsburg $200,000 for wages due.
3.
October 24, 1907
The Evening Star and Newark Advertiser
Newark, NJ
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Employees Westinghouse Given This Assurance by Receiver. FACTORIES TO KEEP OPEN Financial Troubles Will Not Interfere With Operating Plants in Newark, Pittsburg or Elsewhere-Iron City Trust's Suspension Discounted. PITTSBURG, Oct. 24.-As was expected, the Pittsburg stock exchange remained closed today. Shortly before 10 o'clock the members were called together by Secretary Holman, who announced that the board of directors had decided to suspend trading for the day. In' well-informed circles it is believed the exchange will not resume business until next Monday. The local financial situation is in good shape, and is under perfect control, according to statements made by bankers all say prominent Without exception this that morning. yester- the has passed is it day's outlook flurry at present brighter and that than has been for a week. The suspension of the Iron City Trust Company last night and the appointment of receivers by the United States Court for the institution has had no apparent effect on the situation. At the headquarters of the company in the Westinghouse building, Penn avenue and Ninth street, there is no appearance of the failure. It is known that the Iron City Trust Company was liquidating for the purpose of going out of business. When the embarrassment of the Westinghouse companies became public it was feared a run would be made on the trust company, and it was decided to place the institution in the hands of a receiver at once. A man prominent in financial circles 0 said this morning that he knows the trust company can pay $135 a share stockholders. e President Wardorp, of the People's National Bank, a member of the Pittsburg Clearing House Association, said today that a meeting of the clearing house committee will be held each morning until after the trouble has been adjusted. At the meeting this morning Mr. Wardorp said there was absolutely no business to be looked after, but it was the plan to continue the meetings to deal with eventualities, Receivers were not appointed today for the Nernst Lamp Company, the fourth Westinghouse concern embarrassed by the severe money market stringency. It was said that the papers have not been prepared as yet, and it is expected it will be late today, or tomorrow morning, before the receivers are appointed. Unrest among the thousands of employees of the Westinghouse interests in Pittsburg and vicinity was allayed today by a statement from T. H. Given, president of the Farmers' Deposit National Bank, who was yesterday appointed one of the receivers for the Westinghouse Electric and Manufacturing Company. A report had gained currency that the operations of the plants would be discontinued, but Mr. Given assured the employees that there was no truth in the report and announced the works will be operated as usual. The court today authorized the receivers of the Westinghouse companies to pay the employees at Trafford City the sum of $25,000 for wages due from October 1 to 23, and the employees at East Pittsburg the sum of $200,000 for wages due from October 1 to 23. There are 400 employees at Trafford City, and 3,500 at East Pittsburg. ELIZABETH. Oct. 24.-Judge Cross of the United States District Court today here
4.
October 24, 1907
The Daily Telegram
Clarksburg, WV
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ITTSBURG FINANCIAL SITUTION NOW UNDER PERFECT CONTROL AND BEST FOR A WEI is Bankers All Express Themselves Quite Hopeful for the Immediate Future. ATAL BURNS FRANCHISE CONVENTION PENSIONERS BIG FLURRY IS PASSED Stock Exchange, However, Remains TO BOY BABY Are Now Decreasing Very Rapidly Of the Ohio Valley Improvement As SUGGESTION Closed Another Day Awaiting As the Government Roll sociation To Be Held in Developments. Shows. Wheeling. Thrash Child is Burned in a Writer Differs From M Most Horrible Manner PITTSBURG, Oct. 24-At a meetBut Says He is o WASHINGTON, Oct. 24.-The GRASSELLI CARS At Home. WHEELING, Oct. 24.-The RELEASED ing of the members of the stock exTrack. number of pensioners on the roll on change today it was decided to reBoard of Trade and various comHBS IGNITE FROM GRATE June 30. 1907, was 967,971, acmain closed today. The suspension NAMES SOME REQ mittes are now very busy with Will Be Run on Half Hour Schedule of the Iron City Trust Company last Are the Three Young Men Arrested cording to the annual report of the preparations for the annual conAround Junction BeginAttention is Given at Once night and the appointment of reWhich He Thinks Cou For Robbing a Store at Commissioner of Pensions, just vention of the Ohio Valley Improvening November 1. Northview. ceivers for that institution had not Hope For Recovery is to Make and Argu made public. This is a net falling ment Association which will be held But Slight. any apparent effect on the local chise Has Great Superintendent Dallas Leonard of off for the fiscal year of 18,000 penin this city November14 and 15. Robert Hurst, Charles Hurst and financial situation, which is in good the local lines of the Fairmont & sioners, which was the greatest net one year and a half old son Secretary R. B. Naylor is sending Harvey Wolfe, the three young shape and under perfect control ac(By A. T. W loss for any year in the history of and Mrs. W. A. Thrash, reout urgent calls to the officials and cording to statements by bankers men who were arrested Tuesday afClarksburg Traction Company, anMr. McGoerge's stand in the Wine addition to the the pension bureau. The number cf various commercial organizations this morning. Without exception ternoon and placed in jail to await nounces a change in he schedule of applied-for gas and el pensioners remaining on the roll in all probability fatally on throughout West Virginia and Easthearing by Magistrate Gordon all say yesterday's flurry is passed the cars running to Grasselli to June 30 last was the smallest since chise was a step in the Thursday morning at 10 ern Ohio, the latter territory promand the situation is brighter than the charge of breaking into M. W. take place November 1. On that 1891. tion, but his most serio at the Thrash home. for a week. ising a big delegation. A number McClung's store at Northview the day and thereafter the Grasselli was the time asked for On January 31, 1905, the number child was in front of the fire, of commercial bodies are now namIt is expected a receiver will be night before and stealing some cars will be run on a thirty minute the life of the franchi of pensioners on the roll was 1,004,ther was no fender or guard. ing delegates to the meeting. The goods, have been released. Mr. Mcappointed for the Nersnt Lamp Comschedule. Beginning at six o'clock 196, and that is the high water cut so much figue as t thes caught from the fire last up to date is the Wheeling Clung became convinced that the pany today. It is stated the opin the morning until 11 o'clock at and, before the mother could the council should T mark in the history of the bureau. Board of Trade, who will send the prisoners were not the ones who erations of the Westinghouse will night the cars will leave the court Since that date there has been a sists or smother the flames, it franchise from year to be continued. broke into the store and took the followig: T. W. Carmichael, Dr. C. house corner on each hour and half the Address steady decrease in the number of D inget John e Such a franchise cribiy burned all over the air
5.
October 24, 1907
Lewiston Evening Teller
Lewiston, ID
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FLURRY PASSED AT PITTSBURG STOCK EXCHANGE WILL NOT OPEN UNTIL MONDAY, BUT FINANCIAL SITUATION SHOWS NOTHING FOR APPREHENSION. PITTSBURGG, Pa., Oct. 24.-As expected the stock exchange remained closed today, and it is not expected it will resume business until next Monday. The local financial situation is in good shape and under perfect control. All say that yesterday's flurry has passed. The suspensión of the Iron City Trust company and the appointment of a receiver has had no apparent effect upon the situation. It is known the company was liquidating for the purpose of going out of business. A prominent financier is quoted that the company can pay $135 a share to its stockholders.
6.
October 24, 1907
Waterbury Evening Democrat
Waterbury, CT
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BANKS OF COUNTRY SOUND. Comptroller of Currency Says Situation Is Satisfactory. Washington, Oct. 24.-Comptroller of the Currency Ridgely gave out a statement saying the general feeling indicates an absolutely sound situation, and there is not the slightest need of apprehension about the banks and trust companies of the country. The banks of the reserve cities, the comptroller declares, have every disposition to leave their balances in New York and other central reserve cities, and he attributes the trouble in New York to the condition of a few concerns discredited by the operations of their officers and to the different prices of stocks and securities as between New York city and the country banks. Pittsburg Stock Exchange Closed. Pittsburg, Oct 24.-As was expected. the Pittsburg stock exchange remained closed to-day. Shortly before 10 o'clock, Secretary Holman announced that the board of directors had decided to suspend trading for the day. It is believe the exchange will not resume business until next Monday. Prominent bankers said to-day that yesterday's flurry had passed and that the local situation is brighter than it has been for a week. The suspension of the Iron City Trust company last night and the appointment of receivers by the United States court for the institution has had no apparent affect on the situation. At the headquarters of the company in the Westinghouse building, there is no appearance of the failure. It is known that the Iron City Trust company was liquidating for the purpose, of going out of business. When the embarrassment of the Westinghouse companies became public, it was fear. ed a run would be made on the trust company and it was decided to place the institution in the hands of a leceiver. A man prominent in financial circles said this morning that he knew the trust company can pay $135 a share to stockholders.
7.
October 24, 1907
The News-Democrat
Providence, RI
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PITTSBURG EXCHANGE REMAINS CLOSED Pittsburg, Oct. 24.-As was expected the Pittsburg stock exchange remained closed today. Shortly before 10 o'clock Secretary Holman announced that the board of directors had decided to supend trading for the day. It is believed the exchange will not resume business until next Monday. Prominent bankers said today that yesterday's flurry had pased and that the local situation is brighter than it has been for a week. The suspension of the Iron City Trust company last night, and the appointment of receivers by the United States court for the institution, has had no apparent effect on the situation. At the headquarters of the company in the Westinghouse building, there is no appearance of the failure. It is known that the Iron City Trust company was liquidating for the purpose of going out of business. When the embarrassment of the Westinghouse companies become publis, it was feared a run would be made on the trust company, and it was decided to place the institution in the hands of a receiver. A man prominent in financial circles said this morning that he knew the trust company can pay $135 a share to the stockholders.
8.
October 24, 1907
The Salt Lake Herald
Salt Lake City, UT
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STORM BREAKS IN PITTSBURG Westinghouse Electric & Manufacturing Company in the Hands of a Receiver. OTHER FIRMS TROUBLED CORTELYOU SENDS AID TO SMOKY CITY. Pittsburg, Oct. 23.-In the United States court tonight H. S. A. Stewart and William L. Abbott were appointed receivers for the Iron City Trust company. The papers filed in court represent the company as having assets exceeding $4,000,000 and liabilities to depositors of $1,700,000. Attorneys for the trust company said: "There seems to be no doubt of the solvency of the company and its ability to pay depositors in full. "This action was precipitated by the appointment today of receivers for the various Westinghouse interests, and it was decided upon by the board of directors as the best method of preserving the interests of depositors and stockholders. "With the small amount due depositors in comparison with its assets, it is believed that the closing of this institution will have little effect on local financial or commercial conditions."
9.
October 24, 1907
Bismarck Daily Tribune
Bismarck, ND
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RECEIVER Named for Pittsburg Trust Company as Safety Measure I Company Has Assets of $4,000,000 and $1,700,000 in Liabilities I Pittsburg, Pa., Oct. 23-In United States court tonight H. S. A. Stewart and William L. Abbot were appointed receivers for the Iron City Trust Co. The papers filed in court represent the company as having assets exceeding $4,000,000 and liabilities to depositors of $1,700,000. The attorney for the trust company said tonight: "There seems to be no doubt of the solvency of the company and of its ability to pay depositors in full. "This action was precipitated by the appointment today of a receiver for the various Westinghouse interests and was decided upon by the board of directors and stockholders. "With the small amount due depositors in comparison with its assets it is believed that the closing of this institution will have little effect on local financial or commercial conditions."
10.
October 25, 1907
Daily Kennebec Journal
Augusta, ME
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QUIET AT PITTSBURG. Financial Situation Well in Hand— Another Westinghouse Firm Down. Pittsburg, Oct. 24.-Late today Walter D. Uptegraff, secretary of George Westinghouse was appointed receiver for the Nernst Lamp Co., the fourth Westinghouse concern embarrassed by the severe money market stringency. The United States court placed his bond at $50,000. The petition was filed by the Cooper Hewitt Electric Co of New York and states that the Nernst Lamp Co. owes them $20,000 for material. The funded debt of the company is placed at $1,400,000, covered by bonds that are due in 1922. The petition states that all the capital stock of the Nernst Lamp Co., is owned by the Westinghouse Machine Co. The condition in financial circles here today was normal. The position was taken in the appointment of receivers for the four Westinghouse companies place all of them on a better footing: the failure of the Iron City Trust Co., had no bad effects and the millions of dollars deposited by the government caused a feeling of confidence. The Pittsburg Stock Exchange remained closed all day and will probably not resume transactions until next Monday. A meeting of the Pittsburg Clearing
11.
October 25, 1907
The Birmingham Age-Herald
Birmingham, AL
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PITTSBURG SCARE IS ABOUT OVER Receivers Are Appointed For Four Companies STOCK EXCHANGE CLOSED Business Will Not Be Resumed in Stock Exchange Until Monday Morning-Westinghouse Companies Will Recover. Pittsburg, October 24.-Late today Walter D. Updegraf, secretary to George Westinghouse, was appointed receiver for the Nernst Lamp company, the fourth Westinghouse concern embarrassed by the severe money market stringency. His bond was placed at $50,000. The petition was filed by the Cooper Electric company of New York, and states that the Nernst Lamp company owes them $2000 for material. The funded debt of the company is placed at $1,400,000, covered by bonds that are due in 1922. The petition states all the stock of the Nernst Lamp company is owned by the Westinghouse Machine company. The position was taken that the appointment of receivers for the four Westinghouse companies placed all of them on a better footing; the failure of the Iron City Trust company had no bad effects and the millions of dollars deposited by the government caused a feeling of confidence. The Pittsburg Stock exchange remained closed all day and will probably not resume transactions until next Monday. A meeting of the Pittsburg Clearing House association was held and announcement was made following the adjournment that two banks had requested aid. Prominent bankers stated tonight that the situation here is well in hand and that the trouble was rapidly disappearing.
12.
October 25, 1907
The Pacific Commercial Advertiser
Honolulu, HI
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Crisis Passed and Stocks Are Advancing --- Many Failures Reported --Hundreds of Dead in Earthquake--Short Stay for the Fleet. (Associated Press Cablegrams.) NEW YORK, October 25.-A pool, headed by J. Pierpont Morgan, has been organized to provide one hundred million dollars to hold up the market and avoid the necessity of sacrificing stocks. The crisis is now thought to be passed and call money which had risen to one hundred per cent has dropped back to ten per cent. ROCKEFELLER TO THE RESCUE NEW YORK, October 24.-John D. Rockefeller has deposited ten millions for the aid of the trust companies. Some of the smaller banks have had to suspend payment. The market is steadier and the prices bid for stocks have gone up. ANOTHER SMASH IN PITTSBURG. PITTSBURG, October 25.-The Iron City Trust Company has suspended payment. GIVING TIME TO HUSTLE COIN. RENO, Nevada, October 24.-The Governor has declared three days dolidays, in order to aid the banks by giving them time to get coin. ALABAMA STEEL COMPANY IS BANKRUPT BIRMINGHAM, Ala., October 24.-A petition in bankruptcy has been filed against the Southern Steel Company, a concern having a capital of $25,000,000.
13.
October 25, 1907
Los Angeles Herald
Los Angeles, CA
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PITTSBURG SITUATION GROWS STEADILY BETTER; UNDER PERFECT CONTROL By Associated Press. PITTSBURG, Oct. -The financial situation in this city improved steadily today. A government deposit of $5,000,000. placed in local banks as a precautionary measure, materally aided in restoring confidence in all quarters. None of the banks. however, requested assistance. The employes of the Westinghouse were assured today by the receivers that there would be no suspension of operations and the semi-monthly wages were paid promptly. As was expected the stock exchange remained closed. In well informed circles it is beileved the exchange will not resume business until next Monday. The local financial situation is in good shape and is under perfect control, according to statements by prominent bankers to. day. All say that yesterday's flurry has passed. The suspension of the Iron City Trust company last night ,and the appointment of a receiver for the institution has had no apparent effect upon the sitnation. It is known that the company was liquidating for the purpose of going out of business. When the embarrassment of the Westinghouse companies became public it was feared a run would be made on the trust company and it was decided to place the institution in the hands of a receiver. Late today Walter D. Uptegraft, secretary to George Westinghouse, was appointed receiver of the Nernst Lamp company, the fourth Westinghouse concern embarrassed by the severe money market stringency. The United States court placed the bond at $50,000.
14.
October 25, 1907
The Norfolk Weekly News-Journal
Norfolk, NE
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PITTSBURG FLURRY ENDS FOUR WESTINGHOUSE CONCERNS IN HANDS OF RECEIVERS. IRON TRUST COMPANY FAILS Manufacturing Companies Perfectly Solvent. Inability to Secure Funds to Pay Off Maturing Loans Causing Embarrassment. Pittsburg, Oct. 24.-A flurry in local financial circles, caused by the emb barrassment of four concerns of the Westinghouse interests, was quickly ended here by the prompt action of the Pittsburg Clearing House association and the Pittsburg Stock exchange. The Westinghouse Electric and Manufacturing company, the Westing house Machine company and the Se curity company, a holding company for the Westinghouse interests, are now in the hands of a receiver, av pointed by Judge E)wing of the United States circuit court. A fourth concern, the Nernst Lamp company, will also be turned over to the receivers. The Pittsburg Stock exchange, which was closed promptly when informed of the situation by the Pittsburg Clearing House association, will likely remain closed today. This aotion is taken for the purpose of preventing an unnecessary sacrifice of values by a heavy liquidation of stocks. The stringency in the money market is alone responsible for the West inghouse difficulties. The solveney of the embarrassed companies is not questioned. The concerns at present are enjoying the largest amount of business known in their career. The inability to secure funds to pay off maturing loans caused the embarrassment. That the local banks are in good condition was shown when it became public that the Diamond National bank had sent $100,000 in gold to New York institutions. Several other local banks took similar actios. Receivers were appointed for the Iron City Trust company of this city. The papers filed in court show that the company has assets exceeding $4,000,000 and liabilities to depositors of about $1,700,000.
15.
October 25, 1907
The Bemidji Daily Pioneer
Bemidji, MN
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PITTSBURG FLURRY OVER Stock Exchange There Remains Closed, However. Pittsburg, Oct. 25.-As was expected the Pittsburg Stock Exchange remained closed during the day. Shortly before 10 a. m. the members were called together by Secretary Holman, who announced that the board of directors had decided to suspend trading for the day. In well informed circles it is believed the exchange will not resume business until next Monday. The local financial situation is in good shape and is under perfect control, according to statements made to the Associated Press by prominent bankers. Without exception all say that Wednesday's flurry has passed and that the situation at present is brighter than it has been for a week. The suspension of the Iron City Trust company and the appointment of receivers by the United States court for the institution has had no apparent effect on the situation. At the headquarters of the company in the West. inghouse building there is no appearance of the failure. It is known that the Iron City Trust company was liquidating for the purpose of going out of business. When the embarrassment of the Westinghouse companies became public it was feared a run would be made on the trust company and it was decided to place the institution in the hands of a receiver.
16.
October 31, 1907
Cameron County Press
Emporium, PA
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Trust Company Goes Into Receivership Pittsburg, Pa. - In the United States court last night H. S. Stewart and William L. Abbott were appointed receivers for the Iron City Trust Co. The papers filed in court represent the company as having assets exceeding $4,000,000 and liabilities to depositors of about $1,700,000.
17.
November 1, 1907
The Montgomery Tribune
Montgomery City, MO
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HERO FUND IS TIED UP. Carnegie Medals Must Await Clearing of Trust Company Affairs. be Pttsburg, Pa.-There will no medals for Carnegie heroes until the Iron City Trust Company, which is in receiver's hands, pays its depositors, for it develops that the trustees of - the hero fund have $168,000, the accrued interest on the $5,000,000 United States Steel securities given by Andrew Carnegie, locked up in the vaults of the trust company. William L. Abbott, president of the trust company, said that it would be 30 days or more before depositors could be given their funds. A member of the clearing house committee confirmed the news and remarked: "Well, Andy Carnegie can make up the amount if necessary. That is the least of the troubles now."
18.
November 7, 1907
Mexico Missouri Message
Mexico, MO
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HERO FUND IS TIED UP, Carnegie Medals Must Await Clearing of Trust Company Affairs. Pttsburg, Pa.-There will be no medals for Carnegie heroes until the Iron City Trust Company, which is in receiver's hands, pays its depositors, for it develops that the trustees of the hero fund have $168,000. the accrued interest on the $5,000,000 United States Steel securities given by Andrew Carnegie, locked up in the vaults of the trust company. William L. Abbott, president of the trust company, said that it would be 30 days or more before depositors could be given their funds. A member of the clearing house committee confirmed the news and remarked: "Well, Andy Carnegie can make up the amount if necessary. That is the least of the troubles now."
19.
November 13, 1907
The Abbeville Press and Banner
Abbeville, SC
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TRUST COMPANY FAILS. Receivers Appointed in Pittsburg For the Iron City. Pittsburg. - The United States Court appointed H. S. A. Stewart and William L. Abbott as receivers for the Iron City Trust Company, of this city. The papers filed in court show that the company has assets exceeding $4,000.000, and liabilities of depositors of about $1,700,000.
20.
November 14, 1907
El Regidor
San Antonio, TX
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la crisis fue completa, á pesar de haberse presentado en el teatro de lus sucesos el Secretario del Tesoro, quien ofreció ayudar con los fondos de la Nacion. Hube un momento de reposo y la Colonial Trust Company estuvo pagando hasta 26 millones diarios de depósitos. Mr. Cortelyou y Morgan acordaron salvar la crisis con una inyección de millones: 35'del Tesoro americano; 25 de Morgan y 60 de Rockefeller; 120 millones. Con este recurso la crisis parecia conjurado, pero tres nuevos bancos cerraron sus puertas y suspendieron sus pagos; y les siguleron como ocho más en Nueva York, Brooklyn, Pittsburg, Albany, y otros lugares más, habléndole vocado su turno á San Antonio, Texas, donde varios bancos han cerrado sus puertas y suspendido sus pagos como consecuencia de la crisis. Las causas, según un comentarista, son entre bancarrotas y bancos quebrados, las siguientes; En Pittsburg, la autoridad ha ordenado la liquidación de tres compañias dirigidas por George Westinghouse, y que son las "Westinghouse Electric Company", "Westinghouse Machine Company" y la "Securities Investment Company" puesta en gravísima condición por la baja del capital y la depresión de la Bolsa de New York. La Bolsa de Pittsburg fué cerrada por efecto de la situación de la "Westinghouse", cuya situación ha causado también la quiebra de la Iron City Trust Company, que hacía negocios exclusivamente con esa compafifa. Once mil obreros de Pittsburg, que debían haber sido pagados por la citada compañia, no recibieron su salario, lo que causó la consiguiente alarma. El Presidente Roosevelt estudia con su Gabinete, la manera de conjurar des.altivamente la accual crisis económica del país.
21.
November 19, 1907
New-York Tribune
New York, NY
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IRON CITY PAYS SMALL ACCOUNTS. [By Telegraph to The Tribune.] Pittsburg, Nov. 18.-Thoroughly confident of the solvency of the Iron City Trust Company. which was forced to suspend when receivers were appointed for several of the Westinghouse interests, the directors of the bank have agreed to pay in full all depositors whose balances amounted to only $100 or less. There are more than six thousand of these small depositors, and to-day their accounts from A to L were settled with in full.