Show IMPROVEMENT INi IN i MONEY SITUATION I Cortelyou's Visit to Wall Street I Has Had Beneficial Effect OUTLOOK IS OPTIMISTIC Solid Men of Financial World Satisfied Crisis Crisis- Is Past Now ow York Oct 23 The 3 The panicky feeling that has hns' hns pervaded per Wall all street for the past t two days wn was p perceptibly diminished at the do close of the market today The rhe news new that the United States State treasury had placed 1 between and In New York banks that J J. J P P. Morgan and most of the leading financiers of or the city had taken cn hold of oC the the- situation that th the ut Ti Company Compan 01 of America merlc had withstood withstood with with- I stood the run an and 1 that thaL the expected I g gt nt il run on banks anti anil ti t companies com had failed to materialize ul all 11 lad aad mm It stimulating effect The market ct closed strong tron con r r. Ing the ine panicky y condition that prevailed pro pro- In the banking wot om Id lI The Improvement started at 1 o'clock and continued d until the stock exchange se session slon ended Even E West Test electric which showed a n dl disposition dis- dis po position to drop out om of sight upon th the announcement of or a 3 receivership recel re recovered To- To I covered ered nine points over o the lowe lowest t of the day A t few of or time the big active c I stocks showed fractional lo losses e upon the da lu lays lay's s 's trading I Mono High I Call money ran up to 00 90 per cent the tho highest interest figure recorded I In years ear and this in the face of oC repealed ro- ro peate pealed announcement that a number o of prominent banks were lending monc money on call at six per cent The Tho Bank of Ne- Ne New York olk ork loaned on the stock tock e exchange at atto 40 to toper per cent com There were ere several se private f I loans at each fach on the floor loor of or time the exchange at J 40 0 50 CO GO and 70 0 pel per pei c cent nt The Bank of or Manhattan acting act act- ing lag for tor a pool loaned althe al nt atthe the latter CI figure ure The The- price of or call monO ran up to ninety per cent and nd some loans loan were were recorded at that fig fig- ure urd There seems to be he a t general s opinion that the hanl banking lanking ing situation wn was on the tho mend mind and that hI bottom had been touched livery Cr y little while a lump of sloe I ilja 14 n p I J d v tJ g Jt h t m t. t Ts f t tat C c n Jr 0 if f. f t h pI r W th l rn otH h Investment tier lie i Actual rt ual Ol Operation ration I Pres Pressure ure upon th the New ew York stock I exchange has appeared to be he le el leveled d J Jon Ion on a few prominent stocks The rhe genI gen gen- erol market opened off from one to toI I four points point Rumors of runs prospective pros pros- I failures and increasing ing business bustness bust busi n ness s difficulties fairly smothered pros 1 the financial district I Union enlon Pacific ran of off fi r. 1 S. dropping drop 1 drop ping a point between sales ales 1000 shares hare selling at OO at GOO at lOS SOO at l- l 1 at 4 1 with a a. subsequent 1 rebound hound to I The Cir first t six Ix hun hundred red shares of or Delaware Hudson sold at a n decline of nine p points which was extended to tu eleven points Northern Pacific dropped drOPIe d 4 AtchisOn tc on 2 2 1 Brooklyn Rapid Transit 3 Z Gr Great at Northern orth rn preferred preferred pre pre- 2 4 1 Rea Reading Atlantic Coast CoastLine Line I Loul Louisville Nashville 3 National Lead and Mackay companies 8 2 South Southern rn Railway ar pr preferred 1 3 1 American Smelting 1 I 2 1 1 United States St Steel 1 preferred 1 3 8 and Amalgamated Amalgamated Amal mal Copper 1 1 4 American sold old at nt a decline of or 25 points Secretary l U. U George B. B Cortelyou secretary of th time the treasury spent the business iness da day In the treasury sub in iii Wall street It was l expected 1 that if It the situation warranted such Much action he ho would offer further government nv aid to th the hanks banks I 1 will so long as m my as assistance s o-s- i N l-c needed he said Among mon the callers caller in th the sub treas ur ury In the morning were S S. S II Freeman Freeman Free Free- man pre president of or the Merchants Merchants' National Na Na- a hank bank and W. W F. F II Havemeyer meyer the new president of or the hank bank of North orth America The The- latter when a n ked about th thrim the thA therun of or run rim upon the tho Trust Company America sald Id ld have haw lost their h Why the people Continued ont on lt laga Two IM IMPROVEMENT PRO V EM ENT IN MONEY SITUATION Continued From Page One heads keep cool and everything everything every every- thing will be all right Later when he emerged from Crom th theoffice the thu office orfice after a a. short conference vo Q said The newspapers are arc to blame fort for for- t this IR If It tho the newspapers lerS had d not printed all this timis there aro are scores of oC who have gotten frightened tenet who would not have known anything about It The fhe pea people pIc In 1 Harlem arlem would not riol have known anything about It Secretary Cortelyou Is handling the situation all right This rids trouble es not reach further than Albany The last remark was taken to mean tho the circumscribed area o of dl- dl Mr r. r lIa said his callIn call callin In n the tho treasury sub was merely merch a a personal personal per per- onal call In all nIl quarters the feeling was better better better bet bet- ter as ns the day closed cd A member of or orthe the clearing house committee e said ald Assistance was ten tendered to banks which had debit balances but the aid needed was small The conditions are very cry j I good Judge E. E II H. Gary on leaving the offices of J J. P. P Morgan and company compan where he hal had been In conference nearly nearly nearly near near- ly all day sa said Id The situation Is Iser er very much Im Im- Im proved More Humors Humor DeDI Denied d. d A rumor rumo-r was current In the stock exchange this afternoon that J J. P P. Morgan had obtained control of at tho the Union Pacific and had deman demanded ed Mr lr han i Harriman's mans man's resignation Mr 11 Harriman would not dignify the stor story with a de denial tie tie- nial but Interests Identified with him said Mid the story was absurd that It was Impossible for Mr 11 Mor Morgan an or anybody else elep to get gel the control of the company compan awa away from the Kuhn Loeb I interests Mr Harriman Ml said ho had hadn hadnot hadnot n not t bought control of at the Georgia Cen Cen- ti I I have been too 1 busy uS he sar saE helping other people toda today to bother about buying Ing railroads |