THE MONEY PANIC.

Taranaki Daily News, Volume L, Issue 61, 31 October 1907, Page 3

THE MONEY PANIC.

Xew York, October 2D. All the banks at Oklahoma City arc closed temporarily owing to the scarcity of cash. It is expected that the banks throughout the Indian Territory, Oklahoma Territory, Arkansas, and Xorthcni Texas will also be closed owing to the refusal of the banks of Kansas City and St. Louis to forward specie. The Bankers' Trust Company at KanI -as City and the Bath Thist Company at Maine, which are small concerns, have suspended payment. Leading life insurance companies granted thirty days' extension of time for the payment of premiums.

The Clearing House banks at Boston, Philadelphia, Chicago, and elsewhere tr? issuing Clearance House certificates on the dissolution of the bankers' pool /or providing loans for brokers. The call on money ro*c tn 7.1 per com'., but just before the Stock Exchange closed, two banks p;U'li loaned a million dollars on the floor of the Exchange at .">0 per cent.

A crowd of depositors created a disturbance outride the Hilwrniun Saving-* Bank at Chicago because sixty days' notice of withdrawal was enforced. Police di-pcrsed the crowd. The Xew York gold importation- from abroad now amount to 27 1 /. million dollars |

STOCK BUSIXFfcS RESTKICii-.D. Received 30th, 10.2-2 p.m. New York, October :«•(. Owing to the cash stringency, there is gencr.il restriction in stoik-ilealing business throughout the United StatesSan Francisco banks are issuing Clearing llouse certificates. GERMANY CONSERVING HER GOLD REESRVES. Received 30th, 10.51 p.m. Benin, October 30. The Reich bank has raised the discount rate to o'/j per cent to prevent gold exports to New i!ork. RUNS DIMINISHING. VALUE OK GOVERNMENT DEPOSITS Received 30th, 10.51 p.m. New York, October 30. Runs on the Trust Company of America and other trusts resumed yesterday in diminished volume. The officials of several of the suspended irusts anticipate resuming business on Monday. Mr Cortelyou announces that the Government has deposited £42,723/148 with national banks; and 14 millions since early in September,