25 ottob 1907 anni - "MILLIONS MEET ALL DEMANDS" NY Times 1907, Oct 25

Descrizione:

NY Times 1907, Oct 25 - MILLIONS MEET ALL DEMANDS
Money Poured Into Banks, Trust Companies, and the Stock Exchange.
CORTELYOU NOW CONTENT
So Well Satisfied with the Situation That He Makes No Formal Statement.
STOCKS RECOVER QUICKLY
Trust Company of America Keeps Open Its Doors and Pays All Who Come.


Night Conference with Morgan. Finds Banks Solvent. Money Pool Saves Stock Prices. The Rockefellers Active. Morgan Centre of Conferences. Close Co-operation Arranged. Not All the $25,000,000 Taken. Cortelyou's Busy Day. Talk from ex-Secretary Shaw. Worst Over, Bankers Say. More State Funds Brought. No State Withdrawals. Mercantile Has a Credit Balance. Little Foreign Exchange. Stocks Bought for Abroad. BE CALM, SAYS MAGISTRATE. Reproves Hysterical Bank Depositor Who Talked Too Loudly. DEAN JOHNSON'S ADVICE. Freedom to Expand Bank Circulation Needed, He Says — Business Sound. Faith in Trust Company of America.

The first tentative improvement in the crisis came on October 24 when the Trust Company of America survived a run and the stock market narrowly averted disaster. The headline of a front page article in the New York Times (October 25) announced that, "Trust Company of America Keeps Open Its Doors and Pays All Who Come." The article's lead sentence reported that, "The power of millions poured into the banks by the Government, into the Trust Company of America by the powerful group of bankers which is standing by that institution, and into the Stock Exchange by a $25,000,000 money pool conducted by J.P. Morgan & Co., brought the financial community through another day of stress yesterday." (Such was Morgan's influence that he required only 15 minutes to pressure bankers into coming up with $25 million.)

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