Show DIRECTORS ALL HAD TO RESIGN New York Clearing House Committee Put Rollers Un Under Under Under der Bank Officials RIDGELY NEW PRE DENT BUTTE BANK ATTACHED FOR BALANCE OF NOTE New York ork Oct 18 While by b no means a black black Friday this was far from be being beIng being ing a fair lair day Jn n Wall street and when trading closed genuine satisfaction was expressed that a short Saturday and a Sunday made a lull during durin which many things were possible of adjustment The prompt action of the clearing house committee In eliminating the Mercantile National bank as a disquieting factor should result by Monday In pretty well clearing the atmosphere Today however this influence was offset by b frequent ru rumors rumors rumors mors that at tile the committee meeting at which the solvency of the Mercantile had been established there had been a further discussion In which the names of other banking institutions were involved The fhe clearing house committee minimized con consequent consequent consequent sequent fears that the tha conditions of the banks generally was satisfactory though the qualification was made that in some instances changes in the directorate of other banks might be necessary It was insisted there was nothing alarming in the local banking situation New Low Records On the stock exchange the metals and affiliated stocks continued theIr down downward downward downward ward movement carrying with them the general list particularly railway shares Tho rho selling was heavy and ind the mart market feverish throughout was susceptible to vague Influences Call money touched 10 per cent an hour before tile the close Smelt Smelting SmeltIng Smelting ing broks 9 selling downto filU lU GI Amal Amalgamated Amalgamated Amalgamated Copper broke 4 Hi dropping to Both of these stocks made new low records as did a long list of other prop properties properties Including such prominent railway issues as Pacific St Paul Great Northern Northern Pacific and Reading Support and short covering assisted a closing rally ral after various trouble rumors had nad failed Called to materialize Thirty railroad and industrial stocks closed today at the average price of 4 against yesterdays r S The same stocks a month ago averaged 95 93 and a year ear ago Change In the Mercantile The change chan e in the management of the Mercantile National bank hank the presidency of which was resigned by F Augustus Heinze yesterday was made complete to today today today day Following its investigations of ot the institutions affairs tin th clearing house committee today extended the bank cash assistance but as a condition precedent to this demanded the resignations of the entire board of directors These were Immediately presented to the president of the clearing house association association tion win Who will appoint a t new ne board Some of the old hoard board bo may Wil William WIllIam liam B D RIdgely Ridge comptroller of the cur currency rency It was unofficially announced to today today day has decided to accept the presidency He was present today tOOn when the banks banka af affairs affairs a fairs were wore looked Into It was said that Mr r Heinze still sUll retained his holdings in inthe inthe Inthe the Mercantile bank I |