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BANKERS' DISTRESS MERELY TEMPORARY Williams and Middendorf Firms Will Soon Reopen. Assurances from authoritative sources were received privately in Washington today that the financial embarrassment of John L. Williams & Sons, of Richmond, and J. W. Middendorf & Co., of Baltimore, is merely temporary, and will be satisfactorily adjusted within a short time. The firms had fully prepared for the suspension of business, and with the indulgence of their creditors will soon resume operations. Local banking circles were also informed that the bankers of Baltimore will meet today for the sole purpose of providing means to assist the distressed concerns. This action was unsolicited and will tend to restore confidence more than any move that could have been made at present. The temporary withdrawal of the two companies is a matter of more than passing interest in local financial circles. Numerous anxious inquiries were made by Washington bankers this morning concerning the real condition of the companies, and the answers received were of the most optimistic nature. While neither concern is represented locally or has in circulation a large amount of paper, both have been involved in minor business dealings here. Mr. Williams was one of the organizers of the American National Bank of Washington and at one time held a large block of the stock. He was also elected a director, but later resigned, after selling out his holdings of stock. The embarrassment of the firms caused a decided slump in Seaboard stocks this morning. opening at 21/4 lower than the closing last night. The offices of Middendorf & Co. opened as usual this morning. Mr. Williams and Mr. Middendorf were in consultation with the directors and the members of the committee named to straighten out the tangle.
