 As a run began on the Trust Company of America , Morgan worked with Stillman and Baker to liquidate the company 's assets to allow the bank to pay depositors . The bank survived to the close of business , but Morgan knew that additional money would be needed to keep it solvent through the following day . That night he assembled the presidents of the other trust companies and held them in a meeting until midnight when they agreed to provide loans of $ 8 @.@ 25 million to allow the Trust Company of America to stay open the next day . On Thursday morning Cortelyou deposited around $ 25 million into a number of New York banks . John D. Rockefeller , the wealthiest man in America , deposited a further $ 10 million in Stillman 's National City Bank . Rockefeller 's massive deposit left the National City Bank with the deepest reserves of any bank in the city . To instill public confidence , Rockefeller phoned Melville Stone , the manager of the Associated Press , and told him that he would pledge half of his wealth to maintain America 's credit . 
