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# The Financial Situation.
New York, Oct. 28.-New York banks continued on an increasing scale the use of clearing house certificates today as authorized at a session of the clearing house association Saturday.
So far as the public is concerned the certificates do not figure at all. They are used merely to settle clearing house debits. They will prevent the tieing up of large sums, however, and practically remove all possibility of the crippling of financial institutions by preventing the cutting off of cash needed to meet withdrawals.
Most of the trust companies also resorted to the payment of depositors with certified checks on clearing house banks in preference to releasing currency.
The crowds about the banks and trust companies on which there were heavy runs last week had dwindled to mere handfuls early today. At several institutions the bank watchmen opened the doors long before the regular opening hour that the waiting patrons might find shelter in the lobbies from the storm.
Secretary of the Treasury Cortelyou sent word from Washington that he considered the situation so well in hand that he will not return to New York.
State Superintendent of Banks Williams announced last night that several State banks which closed their doors under the pressure of withdrawals asked permission to reopen. He did not say what answer will be returned.
The pool formed last week and headed by J. Pierpont Morgan, which raised about $25,000,000, and loaned it on the stock exchange, was dissolved today as it is not believed that such action is now needed. Bank presidents believe that all the call money needed in the transaction of business now may not be obtained by brokers through their regular banks.
Chicago, Oct. 28. -Chicago banks opened today with no indication of anything resulting from the announcement yesterday that clearing house certificates would be used in the transaction of business. Before the doors opened there were quite a few heads of smaller business houses waiting to learn what method would be followed, but there was no indication or intention to withdraw accounts. Assistant Chief Schuettler had 100 plain clothes men in reserve for use at the banks, but it was found that there was no necessity for their presence, so only 11 men were used more than the ordinary detail. All the banks announced that regular customers and positively identified checks would be accomodated with cash and that business houses would have no trouble in getting currency to meet their pay rolls and other business necessities.
St. Louis, Oct. 28-One hundred policemen were assigned to duty around the banks and trust companies of the city this morning to prevent any crush which might follow the announcement that 30 to 60 days' notice is necessary to withdraw savings funds.
Pittsburg, Oct. 28-The Board of Directors of the Pittsburg stock exchange this forenoon decided to remain closed today. Secretary Charles J. Holman stated to the United Press that there was no official announcement of the action to be made other than the board considered it best to remain closed in view of the troublous condition of monetary affairs in New York.
Cleveland, O., Oct. 28. The Cleveland Clearing House Association has decided to issue clearing house certificates, if such action is found necessary. At the suggestion of the association the Savings Banks and Trust Companies today put into effect the time notice clause on all withdrawals of savings accounts over $50. Checking accounts are not involved.
Cincinnati, O., Oct. 28. The following statement was issued by Cincinnati bankers after a conference:
"In the interests of depositors and the public and as a basis of immediate general assistance, the Clearing House resolved to issue Clearing House certificates, and also resolved that all banks of this city, whether state or national, having savings accounts, exercise their right to decline to honor withdrawals on savings accounts.
Bath, Me., Oct. 28. A run on the Bath Trust Company forced the institution to close its doors today. Its paid-up capital is $100,000 and its deposits are estimated at $540,000.
Chicago, Oct. 8.-A run has started on the Hibernian Bank. There are more than 200 people in line and the line extends out into the street. Most of the anxious ones are women. The Hibernian has been regarded as the strongest State institution in Chicago.
