Show RIDGELY DOES ES NOT WANT RUT PLACE PUCE Comptroller of the Currency Passes Up Presidency of Mercantile National Bank i HEINZE CONTROLS STOCKS SNEERS AT CLEARING HOUSE COMMITTEE Washington Oct 19 Comptroller ler of the tho Currency W B fidgety Ridgely t today declined the presidency of tho the Mercantile National bank of New York New York Oct 19 There was a sigh of relief throughout the financial world when the short session of the stock market closed today toda ending one of the most panicky weeks that Wall street has ha known for a long time The declination of the presidency of the tho Mercantile National bank by b Wil William William liam B Ridgely Ridge comptroller of the cur currency currency currency rency did not come until after the business day was over and then had no effect on the market or finances in general What the effect may be when the market opens Monday londay it is impossible ImpossIble sible to say sa but it Is the general opinion opinIon ion Jon of ot financiers that the weekend holiday hallda will serve to settle matters in inthe Inthe Inthe the street and that unless there are unexpected developments in the deli dell delicate delicate cate ate situation confidence will in a large measure be restored by Monday Balance Made Good The clearing house committee again today toda took care of the debit deb t balance of ot tho the Mercantile National nine clearing clearinghouse clearinghouse clearinghouse house banks bonks it is said providing to make good the balance No action was taken looking to the future support of the bank bonk should this be necessary F Augustus HeInze who resigned the presidency of ot the Mercantile National I bank Immediately following the sus suspension suspension pension of his brothers firm by the stock exchange change x issued another state statement statement ment today in which he reiterated his denial that he ho had sold Bold any of his stock In the bank He sharply criticized criticized the clearing house committee for f r referring to the Impairment of the sur surplus surplus surplus plus of the tho bank saying this action was due to a desire on the Dart part of other bankers banker to induce customers to withdraw their deposits from the Mer Ier Mercantile cantile National In order that their own institutions might wight secure them Preparing for Crisis The weekly bank statements showed an unexplained addition of to the th cash holdings of ot banks bringing the cash holdings 1 l l gs up to above the required reserves This Is taken to mean that the banks are pre pro preparing preparIng paring themselves for any crisis that may be forced on them next week State Treasurer Julius Hauser ac accompanied accompanIed accompanied companied by several state officIals came to New York today for the pur purpose purpose purpose pose of investigating the condition of ot the Mercantile National the state de do deposits posits in the bank aggregating Mr Ir Hauser was assured by the clear clearIng clearing Ing lug house committee that the bank was I perfectly solvent and he was advised I to leave the money in the bank bankIt I It was announced today that C W Morse who is heavily Interested In the I Mercantile National had resigned from the directorate of or the Van Norden Trust company compan in which he had a small Interest Fall of United Copper On the stock exchange and the curb every stock dealt de lt in ill suffered a net de decline decline cline dine during the week United Cop Copper Copper Copper per which is not a listed stock and is dealt In only on the curb suffered a anet anet 2 net decline of or 38 for common and 49 for preferred closing at 7 Hi and 25 5 re respectively respectively Guggenheim Exploration dropped 45 points On the exchange Amalgamated reached 43 4 closing today at 44 and showing a net decline of 9 for the week The low point reached rea hed was the bottom price for several years ears and was 77 jj points below the high point of ot the year ear Railroads and industrials suffered during the week but the close dose today was In almost every ever case cae substantially above the low figure for tor or the week |