Savings banks curb bond sales to stabilize money market
The article notes savings banks defer selling bonds to avoid depressing liquidity and consumer confidence. It highlights investments abroad, gold negotiations with London and Paris banks, and a shift toward cash to ease market stringency. Demand for funds spiked, with large call loans and renewed efforts by Morgan syndicate and associated banks.
MENTIONED IN THIS ARTICLE
Depos Mors
Smings
Elrewiaton
Natlonal City Bank
Donkers
London
Paris
Fireign
Treasury
Bette
Stock Exchange
Morgan
Ps Nno
Iwans
Thur
Mary Lors
Ene Cours
Stodapest
Weso
Tn Trust Company
Louis Stern
In & Poston
Emery Damand
Talk of Certificates Denotes Clearing House Crisis
A report circulated that the clearing house issue of certificates was unofficially decided. Reading bankers feel no need for extra certificates as full membership action would be required. Arrangements had been made for importing 9 000 000 cold from abroad amid European goods deals.
MENTIONED IN THIS ARTICLE
Washissioo
Elkins for Money Act Proposes Bond Deposit Plan
Senator Elkins of West Virginia urged Congress to reintroduce a prior bill: require that all currency beyond a set balance be deposited in bonds as soon as collected. He said this would bolster money in trade channels and provide relief without creating a new currency. Local reports note market confidence and bank conditions remain unsettled with no new developments.
MENTIONED IN THIS ARTICLE
Congress
Ita
Serinusl
Elkins
West Virginia
Pattsburg Financiera
Sitnat
Sgutsborg Pa
Arsociation
Out
A Deposit National Bank
Westinghouse
T H
Witch
To-wight
Oil King Urges Confidence in Banks and Money Supply
An Oil King urged Galm Lat to maintain confidence and not withdraw Bynas from banks. He warned against reducing circulating money, arguing that current conditions do not justify panic and that cash flow is essential for national business.
Rockefeller Advice on Bank Funds and Public Confidence
John D Rockefeller urges New Yorkers to keep funds in banks and avoid panic selling. He argues that excessive cash hoarding worsens the financial mood, and that government and bankers must restore calm with clear remedies. He notes the need for reasonable public action to prevent further economic distress.
Rockefeller Plays Golf Amid Banking Panic at Pocantico Hills
Amid a market panic in the financial district John D Rockefeller head of the Standard Oil Company played golf with friends at Pocantico Hills. He refused to discuss the financial crisis, saying there was nothing to add to his Wednesday night statement, and spent the afternoon in light chat and steady golf until a midafternoon nap.
MENTIONED IN THIS ARTICLE
New York
Amecccm
Financial
John D Rockefeller
Mandand
Pocantica Hill
Mr Rockefeller
Jn Tcont
J Pierpont’ Morgans
Standard OU
Bob Lennon
Gmireh
Focantico Hills
Willie Tucker
Ardsley
Hin
Bir
Rockefeller
Montreal market notes show mixed stocks and firmer close
Montreal broker reports indicate varied trading with several issues down one to three points while others gain. The day noted dividends paid on several issues and toward the close a firmer market tone emerged as traders evaluated rails steel and power stocks amid unsettled activity.
MENTIONED IN THIS ARTICLE
Montreal
Stock Exchange
Paris buying our stocks amid American financier optimism
Oct 2 Paris reports a notable resumption of confidence in American securities as French and American financiers move to curb panic. Praise is directed at Secretay Cortélyou J P Morgan James Stillman and other US magnates whose actions are seen as restoring trust. Andre Poniatowsky notes bankers who had not purchased American securities began buying, with large orders sent to the United States.
MENTIONED IN THIS ARTICLE
Faya
Commission Rouges
Tho Vyamesugues
Paris
Secretacy
Cortélyou J P Morgan
James Stillman
Gan
United States
Providence Bank Runs Quiet After Depositors Rally
Depositors withdrew funds from several Rhode Island banks amid a temporary receiver appointment at Industrial Trust and a ninety day withdrawal notice rule at the New England Trust. A stabilizing committee reviewed books and reported sound condition, with Industrial Trust promising to reopen tomorrow as the Union Trust Company faced heavy demand from customers and rivals in New England and New York.
MENTIONED IN THIS ARTICLE
Providence
Greenwich
Archibald Loomis
Cornelius
Ingland Trust Company
Charles A Wilson
Ew England Trust Company
Wera
Industral Trust Company
New England
Rhode Island
Industrial Trust Company
Committee of Blue Wag
Walto M
New York
Dea
Perry Grstsie
Union Trust Company
Tust Commons of America
New York Institution
Buch
Perry
Trust Company
London Lord Rothschild Praises Morgan’s Unselfish Help
Lord Rothschild paid high tribute to Pierpont Morgan for his efforts at the current financial juncture. In New York Morgan avoided comment citing scant reports but noted the situation appeared hopeful and reassuring.
MENTIONED IN THIS ARTICLE
London
Lord Rothschild
Pierpont Morgan
New York
Morgan
Gunman Forcibly Tries To Take Over Public School
A disturbance at a New York public school on Junction Avenue Corona Long Island involved a man with a 9 inch stiletto threatening staff and smashing a desk as Principal Josephine Lawlor tried to reason with him. Police arrested the intruder, who was not pressed to file a complaint. The episode prompted caution about school safety amid tales of history making days in education.
MENTIONED IN THIS ARTICLE
New York
Junction Avenue
Corona
Long Island
Josephine Lawlor
Dhmeone
Mica Lawlor
Solvent but closes suspensions in Brooklyn banks
International Trust Company and two banks controlled by state officials suspend payments in Brooklyn. The New York National Bank of Brooklyn, with capital stock of 32 million, suspends today, depositing customers losing about 4.2 million. Williamsburg Trust Company, the second oldest local institution, ceases operations after days of withdrawals. Jenkins Trust Company of Brooklyn also closes, owing depositors about 2.5 million. Gow concerns close.
MENTIONED IN THIS ARTICLE
New York
Ket National Bank of Brooklyn
Tr Owen
Wilamsturg and Jenkin
Natonal Bank
Willamsburg ‘Trust Company
Tenkine Financial
Brooklyn
Wilamshire ‘Trust Company
Jenkins Trust Company of
International Trustompany
Willsm. Gow
Ward & Gow
Brookyn Hank and Lounched
Ilka
Clark Williams State Bank
International Trust Company
Brooklyn Bank
Clinton and
Fulton Streets
Fulton Street
Borough Bank
Court Street
Trust company suspends payments in Brooklyn banking panic
The International Trust Company and its Brooklyn subsidiaries halted payments amid a cash shortage. The First National Bank of Brooklyn closed its doors while the Brooklyn Bank and Borough Bank faced strain from wage account withdrawals. Investigations traced art bronze thefts to a resident of Alexandria, with detectives capturing suspect Charles Walton and recovering several pieces.
MENTIONED IN THIS ARTICLE
Brooklyn
Brooklyn Bank
Borough Bank
Comptroller of the Currency
First National Bank of Brooklyn
Ita Norg
Hank Uraminer
George T Cutts
First National Bank
Willamsburg ‘Rust Company
Jenin ‘Rust Company of
National Bank
Clnsel
Diplomats and Weather Experts Dine With Dr Polis at New Willard
Dr Polis of Aachen's Meteorological Observatory hosted a Bier Abend at the New Willard last night. Attendees included Prof Willis L Moore, Capt Hildebrand, and officials from the German Embassy, Blue Hill Observatory, and weather science circles, with discussions on fair weather forecasts and balloon science.
MENTIONED IN THIS ARTICLE
New Willard
Polis
Meteorological Observatory
Aachen
Germany
Willis L. Moore
Fairweather
Tittlebrand
Louis
Moore
Xuesta Wers
Wills L. Moore Rehief
Walther Bureau
Hildebrand Mesars van Redamlz
von’ Schubert
AlEswrence Rot
Blue Bill Observatory
Soston
Cleveland Abbe
Marvin Prot
B Garriott
Ad Henry Messrs
BB Calvert
Cour Taiman
HL Heiskeil
Mo Westher
Tris City
Centenarian Woman Dies Near Anaccatia
An aged woman said to be over 100 years old died Wednesday near Anaccatia and was buried from L Theresa a Catholic Church. She recalled life from Prince George County Maryland to Yve with her son Thomas Hawkins, claimed 138 years, and spoke of Revolutionary War era events. Her daughter Elizabeth Hawkins and other relations aged from 50 to 20 were in the home.
MENTIONED IN THIS ARTICLE
Jos
Hall Plantaton
Beth Paul
Laymen Hold Meeting of Protestant Church Federation
At the Federation of Laymen of the Protestant Churches of the District of Columbia a meeting in the Two C tower was attended by 10 delegates and staff. Commissioner Macfarland served as temporary chairman and introduced Rev Dr Caspar Hiatt of Cleveland who urged stronger cooperation between the burthen of the land and churches affiliated groups. A committee on nominations was formed with WW Everett, Myron J Jones and CW Dent along with Macfarland as temporary chairman and HW Arnold Waschoven as temporary secretary. the dateman will announce the next meeting date.
MENTIONED IN THIS ARTICLE
Federation
District of Columbia
Macfarland
Caspac Hiatt
Cleveland
C S Clark
Tast
Everett Myron J Jones
CW Dent
Arnold Waschoven
Bail Denied for Gillette in Perjury Conviction
Former Mutual Life vice president Walter R Gillette, convicted of perjury and remanded to the Tombs, had bail denied by Justice Dowling in New York Supreme Court. The Oct 27 report confirms Gillette remains in custody pending further proceedings.
MENTIONED IN THIS ARTICLE
Mutual Life
Jal
New York
Walter R Gillette
Mutual Life Insurance Company
Justice Dowling
Supreme Court
Safeguarding Depositors No 2 in State Chartered Trusts
A fragment notes that all trust companies outside Washington operate under state charters and that this company, chartered by act of Congress in 1890, is under direct government control and supervision like national banks, with periodic examinations by Shank examiners to keep deposits safe.
MENTIONED IN THIS ARTICLE
Washington
Act of Congress
I* Shank Examiners Deposita Ae Tada Ee
Deeper Probe Sought Into Southern Railway Books
Gov Glenn and North Carolina legal advisers pressed for full inspection of Southern Railway Company ledgers beyond two years. A conference reviewed Master Montgomery ruling upheld by Judge Pritchard limiting review to two years. State counsel vows possible appeal to obtain twelve years of records.
MENTIONED IN THIS ARTICLE
Glenn
Tta
North Carolin
Transp
Master In Chancery
Montgomery
Gev Glenn
North Carolina
Gev Aycock
Woodward
Judse Pritcherd
Southern Railway
Wives Fight for Estate in County Court
Special to The Warhingrost Past Chengo Det 95 two women contest the estate of late Mike McDonald claiming legal widow status. Mrs Mary McDonald seeks to set aside a 1919 divorce decree and bar Mrs Dora McDonald from any share while pending related court actions. testimony references a presumed trip to France with Father Moysan and fraudulent schemes.
MENTIONED IN THIS ARTICLE
Chengo
Mike McDonald
Bors
Mary McDonald
McDonald
Dora
Webster
Guerin
Dsing
Bares
Dora WcDonalé
Petiioner Nf
Barnes Wih
Mes
Dora McDonald
France
Joseph M Moysan
Newspapers Proposal Prompts Local Ad Campaign Plan
A Chamber of Commerce retail committee meeting in Washington last night discussed using four Washington newspapers for special editions to lure out of town shoppers from Maryland Virginia and West Virginia. Dr Kaufman proposed mailed inserts highlighting downtown advantages with volunteers to visit merchants and raise funds. Several members suggested incentives for out of town shoppers but no final advertising medium or budget decision was reached.
MENTIONED IN THIS ARTICLE
Washington
Chamber of Commerce
Dr. Kaufman
Maryland
Virgina
West Virgina
Kaulmans
Whch
Atlen Tod
Conital
Wallral Harrying
William Halen
Joseph Straeberger
Herman Galt
AD Price
A Lisner
R W Henderson
Ting Hos
DI Kaufman
Ciarley
F Waltrait
Jacot
Jerobl
William Fiohn
Harry Kong
Joseph Strasbarger
Sorman
Galt M Goldenbers
Prince
Lsner
Henderson Anton Stephan Hoh
J D Proaser
Weather Summary From Boot of Acrtvitae District
In a weather bulletin from the Weather Bureau posted Friday at Mount Weather the report notes northwest winds up to two miles per hour and temperatures around fifty three degrees in higher altitudes. Fair weather expected to continue across regions with pending fronts. cooler spells predicted in the Midwest and Mississippi Valley. Local observations include scattered sunshine, humidity near one hundred percent, and temperatures ranging from the mid to upper sixties in several areas.
MENTIONED IN THIS ARTICLE
Kangas Coord
Mer Woeo
Western
Tesas
Viper
Upper Lake
Kenmay
Moesourtain
House with forty-year rep offers top value in fit sales
For nearly four decades this firm has built a strong reputation for selling the best at high prices. The company emphasizes continuing to grow on that foundation.
MENTIONED IN THIS ARTICLE
Educator Shoes
Pet
BURT
Also Mentioned on This Page
Elkins For Money
Nahor
Galm
Washington Post
Tarrytown
Standard Oil
Crista Mir Rockefeller
Jona
Wall Street
Montres
Cortelyon
Industrial Trust Company of Providence
Ton ‘Trust Company
Crims
Bagh
Hood
National Bank Tates
Qualtrough
Gaught
Charles ‘Walton
Seevourer Lanna
Hanes
Securities, &E
Binking House
Bauer
Dilla
Hank
Ei@gely
Broadway
International Banking Corporation
Mew Tork
Thiefty
International Banking
China
Kew Tork
Alexandria
Mra Bivard
Kommander
Cheries Waltondyne Wns
Barbee
Vermillion
Walton
Knight
Ulsguisen
Fee
Twa
Panama
DR Polis
American Security Inp Trust Company
Geet Financial Institution
Aoutte
Ertadelpaia
St Loui
Charles J Bell
Fifteenth
Pennsylvania
Southeriws Books
Furst
Peter Grogan
Seventh Street
Cecilian
Punt
Yoon
Steinus
Reet Gad Setutacion
J J Georges & Son, Inc
Porbie
Ahlzo
Maximom
Misinven
Mlb
Ashertte SC
Gudea
Otto
Fra Duvsupert
Calo
Rerio Helens
Mont
Boric
Ark
Meraphis
Lake City
Utah
Poe
Washishton Fort
Harpo Ferry
Elphonzo Youngs Co
Ninth Street
Ines | Grocenes
Newport
Virginia
Aberdeen
Berkeley
Phoos Mott
Nbrw
Sutie
Thos
Yardy & Co
Andy
Manhattan
Tolonal. “Wine Company
Con Sth &D Sts
Christian Xander
Ives
Omar Claret
Ovey
Chris Ian Xander
Bulletin Young Men’s Camrban Assocition
G Street
Burchell
WN. W. Burchell
Tee
Sy Mall
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