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Show ,lSIS HAS BEEN AVERTED Ifl GOTH BANKING CIRCLES Helnze, Morse and Thomas Interests Arc Eliminated and Institutions Are Declared to be Sound. New York. At n special meeting of tho board or directors of the Mercantile Mercan-tile Natlonnl bank Sunday afternoon Setb M. Mllllkeu was elected president presi-dent of tho bank lo succod F. Augustus Augus-tus Helnzo, resigned. At tho snme tlmo Wlllnm Skinner nnd Gerlsh H. Mllllkeu wero elected additional vice presidents, Gerlsh Mllllkeu being added add-ed to the board or directors. Tho clearing bouse commit too met i ihe directors or the bank anil tho 1 boards wero In session for nbnui four hours. Later William H. Shorer, manngcr of the Clearing House association, asso-ciation, on behalf of the association, gnvo out the following statement: "A committee of tho clearing liouso has examined tho several banks of the association thnt have been under criticism criti-cism and find them solvent. Tho clearing clear-ing house commit too has decided to render them such nsslstnnce to meoi their deposits as tho committee may think necessary." The assurance was given by tho clearing house committee that tin-Helnzo, tin-Helnzo, Morse nnd Thomas Interests had been eliminated from the banking organizations of New York City nun in tho light or this fact tho clearing houso association announced Its readiness readi-ness to lend nil necessary nld to any of tho banks which liavo been under suspicion, tho clearing houso Invest! gatlou having established their solvency. sol-vency. It Is believed that this action will prevent any crisis in New York bank lug circles. |