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Financial Cloud Is Now Passing Away. WEAK ONES GO. NEW YORK, Oct. 25: The finansituation is easier here today. cial The run on Lincoln Trust Company and the Trust Company of America incontinue to some extent, but both are meeting every obligaconfidence is Financial stitutions where tion and restored. being institu- everyreport that the outfavorable and no tions everywhere is that their one any fear about financiers at the home of J. which lasted earconference gan need look posits. last have night Leading it until P. held Mor- over de- a this morning. After was the they ly expressed their opinion that There of the flurry is over. worst four minor suspensions early today, were but they hand no effect United on general outlook. The States the Exchange Bank, a Harlem business. indid not open for of stitution, International Trust Company, The New York, and the Brooklyn owing Bank, of Brooklyn, closed their doors At their inability to secure cash. Providence, to R. I., notice was posted on the Union Trust Company, that by a run was made yesterday, which it had suspended payment temporarily. E. S. Sweetland has been appoint- It receiver for the institution. ed individual deposits exceeding the $25,000,000. has The first prices higher, on market were generally bestock in a few minutes they broke ralbut last night's close. Feverish nerlies low followed, but the market is vous. PITTSBURG, Oct. 25:-The exchange here is still closed. NEW YORK, Oct. 25.-As a result of latest developments in the financial the world the there is every indication that in the banking and trust company crisis situation has been safely passed. most Pierpont Morgan ended the J. erisis of the financial cyclone loans sinister by throwing $25,000,000 for here 10 per cent into the stock exchange loans at period when money on call the botat a not to be had at 150 and was tom was dropping out of the market. amountEquipped with a relief fund cash and to $60,000,000 in actual availaing an additional $50,000,000 the with Mr. Morgan, co-operating with John ble, Washington administration and preventRockefeller, succeeded in ining D. the collapse of many financial stitutions in this city. it not been for his appreciation Had the situation and his promptness resulted of would undoubtedly have exthere panic on the stock a For a few tense change. most serious moments the com- the indications strongly pointed to the excollapse of values on was plete That such a calamity decisive change. was solely due to the assoaverted of Mr. Morgan and his of the action ciates who were in command financial situation. the most serious situation of It has was arisen since the beginning fell off that panic. Standard stocks minutes. the and ten points in fifteen and in eight exchange was a bedlam, it must The quarter of an hour conanother been closed to avert a worse acthave of affairs when Mr. Morgan, Stillman of dition with President James presiing National City bank and the First Nathe of the Hanover, Chase, dents and other big banks. responded President tional dramatic appeal of and to Thomas the of the stock exchange $25,000,000 into the gap. poured market instantly responded upward to The treatment. Prices soared cheerthe and the day closed with exagain. Indeed, to such an Corful the anxiety of dinrelieved that he telyou instead of any momentous of ner ence tent prospects. was bankers. attended Secretary improved." confer- a are greatly sub"Conditions just before leaving the restorhe said "Confidence has been coned. treasury. and the outlook grows brighter tinually. (Continued on page 4.)
