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Source: St. Louis Post-Dispatch
Source type: newspaper
Document type: article
Document title: “No Danger in the Financial World”
Author(s): anonymous
City of publication: St. Louis, Missouri
Date of publication: 7 September 1901
Volume number: 54
Issue number: 17
Pagination: 4

“No Danger in the Financial World.” St. Louis Post-Dispatch 7 Sept. 1901 v54n17: p. 4.
full text
McKinley assassination (impact on economy); J. Edward Simmons (public statements).
Named persons
J. Edward Simmons; Frederick D. Tappen.


No Danger in the Financial World

     NEW YORK, Sept. 7.—After the meeting of the bankers, held at the Hotel Buckingham last night, it was stated that it had been decided to issue clearing house certificates, as was done to the extent of $40,000,000 in the panic of 1893, if there is any pressure for money and that no solvent firm will be allowed to suffer.
     Though the news of the attempt on the life of the President did not reach the financial district until after the stock market had closed and most of the important bankers had left for the day a number of important conferences by various financial interests were called.
     The most important of these was a meeting of bank officials at the Buckingham Hotel. This conference was well attended, and the situation was thoroughly discussed. At the conclusion of the meeting J. Edward Simmons, acting chairman of the clearing house committee in the absence of the chairman, Frederick D. Tappen, made the following statement:
     “After a somewhat prolonged period of liquidation the financial situation is one that should excite no alarm. The banks are strong, and are in a position to meet the emergency that has arisen. A majority of the clearing house committee is in town and a consultation has taken place. The business of the country is on a substantial basis, and the clearing house banks are amply able to cope with the situation, and they will stand together in this emergency as they have done in the past.”



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