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Topic: Knickerbocker Trust Company

	EH.Net Encyclopedia: Panic of 1907
		Ominously, next to the front-page article describing the run on the Knickerbocker Trust in the Wednesday, October 23, edition of the New York Times was a headline describing the Trust Company of America, the second largest trust company in New York City, as the current "sore point" in the panic.
		Trusts were originally rather conservative institutions, managing estates, holding securities, and taking deposits, but by 1907 trusts were performing most of the functions of banks except issuing bank notes.
		Trusts were not part of the correspondent banking system, so their deposits were more local and less directly subject to the recurring seasonal strains on funds.
	eh.net /encyclopedia?article=moen.panic.1907 (3570 words)

	BANK - LoveToKnow Article on BANK
		The position of the trust companies, especially those of the city of New York, was one of the disturbing features of the panic.
		The trust companies of New York were required by the law of the state to maintain only 5 % of their demand deposits in cash in their vaults.
		A banker is entitled, in dealing with trust moneys,known to be such, to insist on the authority of the whole body of trustees, direct and not deputed, and this is probably the safest course to adopt.
	www.1911encyclopedia.org /B/BA/BANK.htm (10603 words)

	SparkNotes: Theodore Roosevelt: 1901–1909: Domestic Policies
		Trusts, which were technically illegal under the 1890 Sherman Act, attempted to consolidate business interests to create a monopoly on specific products and eliminate competition.
		The bill also stipulated that all companies engaged in interstate commerce were under the supervision of the federal government.
		Morgan suggested that financially sound U.S. Steel Company purchase the Tennessee Coal and Iron Company, validating its stock, and thus stabilize Moore and Schley.
	www.sparknotes.com /biography/troosevelt/section10.rhtml (1258 words)

	Twain and Plasmon Company
		The petition alleges that the company was insolvent in December, and that its inability to pay its debts was admitted in the following letter signed by Mr.
		The company was incorporated in 1902 with a capital of $750,000.
		The company's plant is at Briar Cliff Manor.
	www.twainquotes.com /19071221.html (577 words)

	SparkNotes: Theodore Roosevelt: Important Terms, People, and Events
		The company was the first President Roosevelt attacked in 1902, claiming the company was a railroad monopoly and violated the Sherman Act.
		Trusts - · Trusts were large corporations that specialized in producing one product and attempted to create a monopoly.
		U.S. Steel Company - · The U.S. Steel Company was trust that controlled most all of the steel production in the United States during Roosevelt's Presidency.
	www.sparknotes.com /biography/troosevelt/terms.html (5407 words)

	[No title] (Site not responding. Last check: 2007-11-05)
		Cordelia Knickerbocker was a cousin of Amelia Knickerbocker Holroyd, and it was through Amelia that the couple (Mark II and Cordelia) met.
		Your sheets indicated that Peter Knickerbocker was married to Hannah Bailey and was the son of Henry Knickerbocker.
		Knickerbocker's term of office was extremely brief, having held the position only one month, when owing to some difficulty between the Stalwart and Liberal factions of the party, he was removed and S.J. Shirley was appointed in his stead.
	www.knic.com /knicmail/1999_Mail/Gen03_99.txt (21845 words)

	List of recessions - Wikipedia, the free encyclopedia
		Panic of 1837 - 1837 to 1843, a sharp downturn in the American economy caused by bank failures and lack of confidence in the paper currency
		Panic of 1857 - 1857 to 1860, failure of the Ohio Life Insurance and Trust Co. bursts a European speculative bubble in U.S. railroads and loss of confidence in U.S. banks
		Panic of 1907 - A run on Knickerbocker Trust Company stock October 22nd 1907 sets events in motion that will lead to a depression in the United States.
	en.wikipedia.org /wiki/List_of_recessions (481 words)

	Twain and the Knickerbocker (Site not responding. Last check: 2007-11-05)
		Agrees to Knickerbocker Depositors' Committee Scheme of Resumption.
		The Satterlee-Parsons committee of depositors of the Knickerbocker Trust Company received a letter yesterday from Samuel L. Clemens (Mark Twain,) who has $51,000 in the company, giving notice that he assented to the plan of rehabilitation.
		Gentlemen: I am in receipt of the plan for the resumption of the business of the Knickerbocker Trust Company, and I willingly yield my assent.
	www.twainquotes.com /19080110.html (238 words)

	Banking and the Federal Reserve System
		Both state and national banks, along with mushrooming financial trusts, were caught up in a whirlwind of speculative loans.
		In October, frightened depositors looked in horror at the collapse of the Knickerbocker Trust Company, a highly reputable and seemingly sound financial institution.
		This time, with Knickerbocker still fresh in mind, Congress broadened its concerns from simply coping with the chronic problems of overissue of bank notes and inadequate collateral to include a newly perceived menace, the overreach of powerful financial trusts.
	www.socialstudieshelp.com /Eco_Banking_and_Fed.htm (2584 words)

	Brockville & Westport - The Beginning
		Knickerbocker Trust Company of New York is trustee for bondholders.
		On March 25, 1884 the Brockville, Westport and Sault Ste Marie Railway Company was incorporated to build from Brockville to Westport, and from there to Georgian Bay and Sault Ste Marie.
		Earlier railway construction in the 1850's was very dependent on the contributions of the counties, townships and municipalities that the railway line would run through.
	www.railwaybob.com /BandW/BandWPage01.htm (841 words)

	Sondheim.com - Putting it together since 1994.
		Family photographs of about 1905 show the two boys in starched collars, ties, belted jackets, and knickerbockers; Edna has a big bow in her hair; and their mother stands in the background, wearing a severe summer dress and a pale expression.
		There was a run on the Knickerbocker Trust Company in Wall Street which led to a general bank panic.
		By 1923, when he was twenty-eight, Herbert Sondheim had become president of the Sondheim-Levy Company, with offices on West Thirty-ninth Street; and by 1930, at the height of the Depression, he had bought out his partner.
	www.sondheim.com /features/secrest.html (2052 words)

	BW&SR (Site not responding. Last check: 2007-11-05)
		History: A company by the name of the Brockville and Westport Railway was chartered by the residents of Farmersville, 12 miles east of Brockville, in 1871 to construct a railway north to Westport.
		The trust company promptly reorganized the railway as the Brockville, Westport and North Western Railway Company (BWandNWR) with plans drafted for further rail expansion to the west in connection with a river navigation company.
		In spite of good intentions, these plans were never fulfilled and the company was sold to the Canadian Northern Railway at a low price as a feeder line for its Toronto to Ottawa main line in July 1910.
	home.primus.ca /~robkath/railbro.htm (489 words)

	Alexander Dawson Henderson Sr.
		The California Perfume Company was a family company and there is no doubt that Mr.
		Judge Glegerich of the Supreme Court appointed Alexander D. Henderson receiver for the Alabama Securities Company of 165 Broadway on application of Edward V. Harman, who obtained a judgment against the company on March 25 for $12,232 which was returned unsatisfied by the Sheriff on April 14.
		Henderson acquired one-quarter of the entire stock of the company; and both men, and their families, prospered.
	www.hendersonfamilytree.com /alecSr/AlexSr.html (2012 words)

	Encyclopedia of San Francisco (Site not responding. Last check: 2007-11-05)
		Duane Bliss had migrated out to California from Massachusetts during the gold rush period and had become a partner in a Nevada Bank, which was purchased by the Bank of California.
		This successful venture secured the education of the Bliss' children, each of whom was sent back to Massachusetts for schooling at MIT.
		That commission came directly from Duane Bliss' business association with D. Mills and the design is inspired by McKim, Mead and White's Knickerbocker Trust Company building on Fifth Avenue in New York from 1901-04.
	www.sfhistoryencyclopedia.com /articles/b/blissWalter.html (846 words)

	The First Decade of the Twentieth Century - History of the United States
		The Senate was not in sympathy with the reformatory spirit of the President, and this historic, blase body of colonial dignitaries were not slow to manifest their disapproval of the youthful President's unconventional enthusiasm to reach criminals in high places.
		The coincident circumstances intensified the feeling in many quarters against the trusts, and the legal battle against this American leviathan was begun and not to be terminated for long years.
		Later an agreement was unearthed, between the Standard and the Pennsylvania Railroad Company, by which the latter was to pay the oil company a rebate of ten per cent.
	www.usgennet.org /usa/ca/state1/ridpath/decade1911.html (12858 words)

	Fifth Avenue - The Crest Of Murray Hill
		ALTHOUGH the name it now bears and has borne for four or five years is the Columbia Trust Company, the building at the northwest corner of Fifth Avenue and Thirty-fourth Street is likely to be known and referred to as the Knickerbocker Trust for a long time to come.
		As such it was the storm centre of the great panic which shook the country in 1907, ruining many, shaking some of America's supposedly most solid fortunes, and involving a dramatic suicide.
		There are descendants of the Knickerbockers who cling arrogantly to the corner facing the Washington Arch.
	www.oldandsold.com /articles08/fifth-avenue-14.shtml (2322 words)

	WebRoots Library U.S. History
		One of the associates of a director in the Mercantile was the president of the Knickerbocker Trust Company, and depositors in the latter bank thereupon became frightened, and $8,000,000 were withdrawn in three hours.
		The alarm then spread to the depositors of the Trust Company of America--the president of the Knickerbocker was one of its directors--and $34,000,000 were withdrawn by the now thoroughly anxious depositors, who stood in line at night in order to be ready for the next day.
		While the trust legislation was under discussion, however, he asked for an act which required all the strength that he could muster.
	www.webroots.org /library/usahist/usstcw10.html (15508 words)

	Montgomery Co. Ks, KsGenWeb (chron2.htm)
		This was Caney, which, by its location in the southwest part of Montgomery County, was unable to clamor for that railroad notoriety that made or broke towns in the 1870s.
		Chamber said that one year after construction of the railroad through Caney, the DMA was taken over by the Missouri Pacific, and the company would have east-west rail traffic in Caney until the mid-1970s.
		Those four people and the offices in the railway company were Jacob Bartles of Bartlesville (and Bartlesville's namesake), president; Samuel Porter of Caney, general attorney; P.S. Hollingsworth of Independence, cashier; and Dr. Frozier of Coffeyville, secretary.
	skyways.lib.ks.us /genweb/montgome/chron2.htm (1897 words)

	True Religion Works - A History of Banking in the United States, Chapters 4-6 (Site not responding. Last check: 2007-11-05)
		In 1656, Peter Stuyvesant requested the Dutch West India Company to "devaluate" beaver pelts from 8 florins to 6 florins, and to raise the valuation of wampum from 6 to 8 for a stiver.
		The Company wrote the Director of New Netherlands, "We have, after due consideration, come to the conclusion, that depreciation of the currency means destruction of the commerce and consequently the ruin of the country.
		In October, the winds of unrest began to blow with greater vehemence, and on October 22, 1907, panic returned as a "run" was made on the Knickerbocker Trust Company, New York's third largest financial institution.
	www.truereligionworks.com /history_of_banking4_6.cfm (13042 words)

	Sample text for Library of Congress control number 2001020219
		All cash and securities which I leave are to be handled by the Knickerbocker Trust Company of New York City.
		She is to submit monthly bills for my son's food, lodging, clothing, education, medical expenses, etc. But the Trust Company will have every right to question any item that seems unusual or eccentric before reimbursing my sister.
		Gilbert said The Boy was to endorse this certified check in the presence of the Trust Company official and then it was to be notarized and the whole transaction would be finished and done with.
	www.loc.gov /catdir/samples/random043/2001020219.html (2460 words)

	The Fallible Fed - Mises Institute
		When the Fed was formed in 1914 (after being created by Congress the year before), its primary purpose was to serve as a "banker’s bank," an institution that would provide "liquidity" to banks in order to ward off periodic runs that would generally plunge the economy into recession.
		The push to create the Fed, while strong since the end of the Civil War, became even stronger after the panic of 1907, which occurred after the Knickerbocker Trust Company in New York failed in the wake of a stock-market bubble that burst.
		From its humble beginnings as primarily a decentralized backup system encompassing twelve districts across the United States (which are still in place today), the Fed quickly gained importance during World War I as a huge holder of short-term government debt.
	www.mises.org /(S(tisywumo31yjvauo53mx43uo))/story/725 (1761 words)

	untitled.html
		A panic begins with a run on the Knickerbocker Trust Company in New York.
		The first car of the Buffalo, Lockport and Rochester Railway Company interurban is run over the line, between Rochester and Albion, carrying an party of company officials.
		A Polish-born worker named Duysick, hired by the Ford and Waixel Company, is smothered to death when a stairwell collapses during the demolition of the Manhattan Theatre (formerly the Eagle, then the Standard) at Broadway and West 33rd Street.
	home.eznet.net /~dminor/NYNY1907.html (5041 words)

	The NDSU Libraries: Germans From Russia
		He seemed at that time fully convinced, but I discovered later that his Russian fear of the law prevailed and he had even bought a half fare for little Vladislasia, who was only a month past five years old.
		The very next morning the shadow of the almost forgotten Knickerbocker Trust Company again darkened our paths and the panic sent the case off at a deadly tangent, the auction sale.
		Wolbert had found means to melt the heart of the railroad company or break the backbone of its resistance.
	www.lib.ndsu.nodak.edu /grhc/media/magazines/articles/dickey.html (5484 words)

	Historic Pelham: The New York, Westchester and Boston Railroad Company Begins Construction of its Railroad
		Following the decision of Attorney General Mayer that its franchise is valid, the New York, Westchester and Boston Railroad Company began yesterday the construction of its road.
		This section of the work is under the direct supervision of E. Maitland, Resident Engineer for the Westchester Company in the Bronx.
		The Westchester and Interborough Companies are so closely allied that a joint terminal will be erected to take care of traffic from one to the other, and ultimately there will be through traffic from the Bronx and Westchester Stations, by way of Subway and elevated, to the Battery.
	historicpelham.blogspot.com /2005/07/new-york-westchester-and-boston.html (877 words)

	NYSEData.com Factbook: Chronology of New York Stock Exchange (1792-1929) (Site not responding. Last check: 2007-11-05)
		Between September 18 and the end of the year, there were 57 Stock Exchange failures, besides the closing of the Union Trust Co., the Bank of the Commonwealth and other financial institutions.
		This period is generally known as the panic of 1907 and was accompanied by numerous suspensions of payments by banks.
		Stock Clearing Corporation started a system of central delivery between members of the Stock Clearing Corporation and also between members and a selected list of non-members (banks and trust companies), in a limited number of securities.
	www.nysedata.com /factbook/viewer_edition.asp?mode=tables&key=194&category=4 (1258 words)

	General Reading: Philadelphia Rare Books (Site not responding. Last check: 2007-11-05)
		Each entry includes brief synopses and historical background; choreographic, musical, and scenic credits; the names of the companies which produced them, and information on the premiere performance.
		Opera comique, in three acts...performed for the first time in the English language by H.B. Mahn's comic opera company, at the Chestnut Street Theatre, Philadelphia, April 5th, 1880.
		Biography of late 19th century architect Stanford White whose works, from the neoclassical Knickerbocker Trust Company and the Pantheon-inspired Gould Library to Madison Square Garden, transformed the landscape of the northeastern United States.
	www.prbm.com /INTEREST/gnread2.shtml (3157 words)

	Manhattan Monologues (Site not responding. Last check: 2007-11-05)
		He lived the life, as my mother once put it, of a “charming idler,” the adequately endowed New York gentleman of Knickerbocker forebears who had dedicated his existence to sport and adventure.
		In the first place, Father lost the greater part of his by then diminished fortune when the Knickerbocker Trust Company closed its doors in the panic of 1907.
		There was no longer the possibility of my leading the economically carefree life that he and his brothers had enjoyed; it was now incumbent upon me to earn my own living, which fortunately I was not only happy but relieved to do.
	www.houghtonmifflinbooks.com /catalog/titledetail.cfm?textType=excerpt&titleNumber=688008 (3874 words)

	Grover Cleveland's Obituary
		He was the only member of the board of three who was paid, but unlike the others, he gave nearly his entire time to the work of the insurance company.
		My recollection is that he had it on deposit in the Knickerbocker Trust Company.
		Cleveland is greatly to be deplored and is particularly unfortunate, coming at a time when more than ever the country requires the advice and counsel of so strong a character.
	starship.python.net /crew/manus/Presidents/sgc/sgcobit.html (8134 words)

	History of Wall Street
		When the Knickerbocker Trust Company was forced to close its doors a panic swept banks throughout the country.
		They set up a single banking trust, with most large banks across the U.S. contributing to its financing.
		Stock prices were pushed up beyond any relationship with the actual worth of the companies.
	www.hermes-press.com /wshist1.htm (874 words)

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