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Trust Company Turmoil in New York Financial District
New York October 23 anxiety over the trust company crisis eased slightly with Treasury Secretary Cortelyou in town and pledging support to national banks. The Knickerbocker Trust, along with the Trust Company of America, faced liquidity strains as deposits surged and authorities prepared to provide aid. Crowds gathered at major offices while bankers examined books and coordinated steps to protect creditors. Morgan took an active role in stabilizing markets as call money spiked and sentiment fluctuated.
MENTIONED IN THIS ARTICLE
New York
Trust Company
Cortelyou
Knickerbocker Trust Company
Trust Company of America
London
American Securities
Knielerbocker Trust Company
Comany
St Paul
Broadway
Wall Street
Fifth Avenue
Oakleigh Thorne
Kulekor Bother ‘Trust Company
Harlem
Fifth Avnue
Thirty-fourth Street
Washington
New York City
National Banks
Knickervock Trust Company
Brown
Charles WW. Morse
Mercantile National Bank
Heinze
Charles Ww. Morsa
William Turnbull
Mr. Turnbull
Roosevit
Mercantile — National Bank