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Show THE FINANCIAL. TItOL'ni.t:(. Several ItAnklor luslttntlone Have SUBenlilra lis Seetlne tbe Claims. New York, Nov. 11. Rumors of trouble among the banking institutions institu-tions wero current all day, but no one paid much heed, thinking they were tbe usual emanations ot bear minds. After tho close, however, II wn learned that three banks, members of the New York Clearing House Association, had difficulty In set-Uicj set-Uicj the claims of other banks against them. There was a balance against the Ilank of North America of $1,400,000, which it was unable to settle. Tho other banks wero tbe North Hlver and the Merchants and Traders'. How the heavy Iialance was created against the Ilank ot North America was the pressure during tho day. The Merchants and Trader!)' made its settlements with tho clcating-houco all right, and the other two banks received assistance from tbe other banks in the association and pulled through all right. At the Bank of North America it was stated that tbe trouble was directly due to the account of Decker, Howell J: Co., and that the bank now was in a stronger to-sltiou to-sltiou than ever. Tun MOST IMrORTAST FACTOll in the developments was the scarcity of money right up to the close. It was In urgent demand, and per cent and legal Interest was charged on loans, equal to 1S9 per cent per annum. This fact and the troubles of tbe banks caused a special meeting meet-ing of thu Clearing-Houso Association, Associa-tion, and after a long ression it was decided to appoint a committee with authority to Issue clearing-house loan certificates in onlcr to enable the banks to settle set-tle the balances among thiru-selves. thiru-selves. This action is expected to restore complete confidence. There ls almost universal sgrre-msi sgrre-msi t among theleidirgNew Yolk bankers that the money market's recent range and tightness came through artificial influences. Funds have been locked up, taken out cf tho ordinary business chinnel and kept ojt of reach, all In order to carry forward the bar campaign of depression, appreben Ion and quotation-smashing. Tbe provisions for clear rif honsi certificate', unlimited, unlimit-ed, needed, up to $93,000,000, will, of course, put to rout all these manipulated man-ipulated schemes, A member of the clearing home rcmn ltteo largely initmxientai in bringing about tnis official nation said this evening: "This ends tho money market trouble; loan rates will be normal now, the pinch Is over." |