Show MORGAN EXTENDS A HELPING HAND Again Comes to Aid of Imper- Imper lied Banks and Trust Companies i DANGER POI POINT JT IS PAST r Trust Companies Apply AppI for Membership f in Clearing I I House Association t. t J. J New Ne York Nov O w. w j J. I. j. j p P. P i hR has once once more extended a helping hand to 4 Wall street anti antl the Imperiled d hanks banks and trU trust t companies with such uch goo goof gooi i r results that the raring clearing house c clato late lato this afternoon made the announcement an an- nO that the crl crisis l has passed ed It nn has been squarely mot met and ami all danger danger dan dan- ger tr of or further serious trouble has gon gone gone- h hy hv Things are arc In 10 good shape The chief development de of ot th the day lay was waR tho the pa passing of or the Tennessee Coal Coat and Iron company compan over O to the hi control of ot J. J P. P Morgan lo who in turn will willIt pa pass passI i I It over o to lo t the heo United d Slates Steel Stel corI cor cor- I This company which has been one of or Its Us greatest t rivals I. will wm prove pro of oC Immense value alue to the tho teel t 1 trust as It owns very r valuable coal oal and and anel Iron mines in J Tennessee and Ala Ala- bama It has Im been controvert h by what Is as ns the Gate Galen crowd and anel tho the terms terms' of or the transfer in to Mr rr Morgan were agreed gre d upon at nt the long conle- conle en enc ence a of h hankers which was held heM at atthe tho the financiers financier's library r rind and which did I novt break up until nW r. r o'clock this morning I I Change In tn Control At 1 this conference t th the h presence 01 ol Grant Gront B. B Schley of nf th the thc firm of or Moon Ioor and Schley cre- cre created ome some comment nt mho us m ho wa th the only broker er rao O tool took pare pan In the thc discussion Moore and represent ent n the t Tennes ee e Coal pool and ancl It was Mr Ir Schley io no signed th tho agreement for 01 or th the tran transfer of the prop crt erty Mr MiS Ir Sll Schley refit nut to 0 mai make mak nn any statement I concerning ti rIe 1 to to- to nay day ZOne Ont ron on for tor the change in control con mu- tr l of at hp company compan tz tt was stood was the thenet net fact that several trust t companies had made made- m arge argo loans inthe to tn I If f the he Tennessee Coal nn I n mul W were lP j janJo anJo J to have e them n on T 1 peal wao rao moda to ro r n. n h he hl consented 10 in jump mi rno tOC t t. t tit over fOr control or nr the Ju company nJ I which hn ho ha haR v to to w Coy ci aa n a n y uI fn tI tho t tHU HU Y wi o ii Or f t I I I ll ei tu f frou rw l K on Onn pany th the tho o s-Ph s fV eUl l 1 1 4 bon tx-nn nn and U the Virginia Iron Coal and nI Cole Coke company compon worm wore ul uto o t the ct f o C rumor In Wall Wait In lo 1 day i fly I It was cu o-i o paid how ci i that t tl the umi pool that held rennI e Coal CaI and null Iron large lare hl blocks CI of ot th the stock o of three but hut that thal un unlike UTI- UTI like 1110 their control or Tennessee t Coal I I and Iron th they did not hold a 0 I Interest t In any nn- ono one of the others I Another Important de development Wt was wa 1 the made matic h hy a member r of the th New York clearing n OU i that the trust companies compani s UHl apply In a hol body for tor membership tutu into the the a o- o elation and that th they win n ne ee t tt to keep a r reserve eno of or 2 ii 5 per pel cent ju Just t the tho sAme FAme as hou house banks Th The trust companies 8 lOre re compelled h by bylaw law to keep a reserve of oC only 1 K 5 p per r cent ent and there T a iu orf ro talk last of th tie the trust companies and the clearing hou house reaching compro mise mIsu They will now however r be rl re required re- re to keep heep up the th run ruti reserve und and with the tnt trUst t companies as us members of or the clearing house bous association the banking hanking position ot jew NC York w I b be bp- Immensely B lI ill LT II i Both th the Tru Trust t Company of America Amen Ameri ca and the Lincoln Trust company for business bu an zu usual and promptly began bg to unmet meet all nil demands made mado upon Ullon th them lU The meeting J I 01 or orthe the directors of oC the there c companies last night at nt the Waldorf Valdor A Astoria orJa and the several trips nips the they made during t the b night to Mi Mr Ir Morgan's Morgans library had luul Gen given G en on rl rJ o o to 10 reports report that 11 trucy C mig not no OP open Opel U w were Wu-c rc a made 1 I by the directors of both companies to the ef effect ef- ef C- C ct that the concerns were In an en entirely ott- ott J solvent condition mill arid would con cou- con I tinne to keep Jeep c p their doers open I From Prom sources s It 11 was wasi learned ct that about was placed c 1 at the disposal of the Trust I Company of or Am America rca oday roday by the hanking pool headed heade l ny nr J j. j P. P Morgan an and about half that amount was waR FE sent nt to th the Lincoln Tru t company COmpan A plan wa va formulated it was said whereby the Trust Company Compan of oC America 4 will bo hI in a po position to obtain oh- oh tain from irom to more if It Is required Just jU as w soon oon a ath as th the directors have hm complied compiled with certain con con- tam tain conditions thai that the pool requires Those conditions must muM b be complied with whit h by Wednesday Just Jut what Ule they ore are no on onA In a Ilo position to t tell 11 would explain It j is believed d however lr they relate to tn reorganization of oC tho the company's com corn pany's puny's nn R management tran transfer fr of oC nil all tho collateral held heel h by the company and the resignations of or all the and aM directors l. Directors to 10 th n IC MH IH So f Zar a ar as ns the Lincoln Trust Is 11 concerned eon con It was sold said that several se or of tie the directors whose who fortunes aggregate ng 10 had p personally t come to Its aid and that by hy Wednesday It would be e so o fortified that It will be he beable heable able to meet all nIl demands s readily rl The c ns assets ass t of the two threatened companies were r carefully examined at atthe atthe the conferences In Mr Morgans Morgan's o. o lib Jib library on ort Sunday SUndBY night found to b be Conti Continued JUcI on ott Jage s.- s. Sox Seven cn en MORGAN EXTENDS A HELPING HAND Continued from flom 1 Pupo One I g good After fter that an un was Avas r reached whereby time the trust comp companies companie t decided d to to operate co-operate in future futuro r r- r mutual protection and tho the directors I Io tt t to o lend the tho aid aill of or their personal forn for for- t n nes unes n I being election day an and a i l egal holiday a more time lime will ill be af- af f ord oll ai for rOI perfecting further plans phan S for f or mutual support Several c e oh on that subject aro are to be lieu hold I m durIn luring the da day This afternoon Frank Franl d del dent ent t of or the tho Lincoln Trust l company compan maid All II Will lie IJo Paid This has hns been the thit lout S st Jl light ht I Inthe in inthe n the time history of finance Th Tin The directors director s of the tue Lincoln Trust t company n hat have 0 decided to the fight arid and I lo to loria ria pay off oft all the depositors who vram want Avant it t their money Conferences Were hel held ull all day I in Mr Morgans Morgan's library an and amid In the ofil Co Coif o n nf if president King of or the tho Union Trim Trust L Sf and In the thu ot or J. J P. P li Morgan Company Co At the tho end oC of MICH h those the I wu who participated lan laro su W h. l 1 to It is him regarded s a-s probable that Mint control con of the TIu Trust t Company 6 or her Amex Avill puss PUSH Into the tho hands of ot J J. P. P Morgan Mor Ol gall gan t Company Tho rho stock market the time clearing of time the financial skies After Arter Artern a n w uk probably duo to the hank batik statement of or Saturday and amid tho tIme raising of the lie minimum rate of discount dis dis- count by In the time bank of or England from lom lomi C 5 i 1 1 2 1 to tu toC C per leI ie cent tho the market rallied shan sharply l und and became er very ery strong Losses Lossos at the opening which ran from one to three points ivere soon turned ln Into r nr p r of nf a n. similar amount It was as expected on the stock exchange that another bank bani pool had hud been to support the time market et but ur time the story was laughed at in well ell lJ in informed In- In formed quarters V to Vt it It was Avas learned however er that hiat the National City and some sonic of oC the tho other large haige banks t had given warning to brokers that If time tho thoy sold stocks short in an aim effort to depress sentiment while hile the time banking world was Avas engaged in a I tight Ugh t to restore confidence they thoy would immediately close out Omit their loans and ana i leaA-e leaA them to shift for fOI themselves Asa As Asa 4 a result the bears crawled into their holes hols Call mono money opened at 20 per PI perr I r cent nt hut but b hA noon unon Was Avas lending at 18 IS I per hem cent By Dy 3 o'clock It had haa- gotten I down clown to G 6 per cent Further engagements engage engage- ments monts of gold old were announced bringIng bring bring- ing the total for tOI the time movement up lip to more than I |