 As news spread , other banks and trust companies were reluctant to lend any money . The interest rates on loans to brokers at the stock exchange soared to 70 % and , with brokers unable to get money , stock prices fell to a low not seen since December 1900 . The panic quickly spread to two other large trusts , Trust Company of America and Lincoln Trust Company . By Thursday , October 24 , a chain of failures littered the street : Twelfth Ward Bank , Empire City Savings Bank , Hamilton Bank of New York , First National Bank of Brooklyn , International Trust Company of New York , Williamsburg Trust Company of Brooklyn , Borough Bank of Brooklyn , Jenkins Trust Company of Brooklyn and the Union Trust Company of Providence . 
