Show pol up MONE aag STOP CORTELYOU ADVANCED NEW YORK BANKS FORTY MILLION DOLLARS TO STEM TIDE startling light on relations relation that existed during 1907 panic between the money trust and the united states treasury now york A startling light was on thursday thrown on relations that existed during tho the panic of 1907 between the money trust and the united states treasury it was shown that more than 40 of the public funds was dumped by the secretary of tho the treasurer trea surp into favored banks of new york in iii an effort to stop the panic and that thai more than of this onor enor sum was turned over to banks affiliated with morgan interests and with standard oil interests to save the stock market from ruin the committee on banking and currency of the house of con congress gres had developed the day before at ltd its investigation of the money trust that on october 24 1907 the day when the stock exchange was in a mad fre frenzy n zy because it could get no money with which to meet pressing obligations x although as much as per cent ceat was offered for call money at one period in those hours of alerce excitement R 11 thomas then president ido nt of the exchange had obtained a promise from J P morgan of immediate relief to the extent of from the tenor of the testimony brought out on Wednes wednesday clay on this phase of the subject it had been made to appert that mr morgan had opened his own vaults and released the golden stream which brought surcease to the halt half crazed hordes of at the stock exchange thursdays developments with amazing swiftness gave a widely different aspect to the real situation they revealed that mr morgan was i the only finan financier cler in the united states except george B Corfe cortelyou lyou then president Roosevel ts secretary of the treasury and now president of the consolidated go gas company a standard Stan standard Sard oll corporation who knew the ca combination abin man of the vaults 0 of f the united states treasury it was lie he who distributed the vast millions to stock exchange banks after secretary cortelyou had announced that the government would come to thorelle the relief foi of the situation by depositing with the banks named by mr morgan I 1 |