At 3 a.m. about 120 bank and trust company officials were assembled to hear a full report on the status of the failing trust companies. While the Trust Company of America was barely solvent, the Lincoln Trust Company was probably $1 million short of what it needed to pay depositors. As the discussions continued, the bankers realized that Morgan had locked them in the library and pocketed the key to force a solution,[46] the type of tactic he had been known to use in the past.[47] Morgan then entered the talks and told the trust companies that they must provide a loan of $25 million to save the weaker institutions. The trust presidents were still reluctant to act, but Morgan informed them that if they did not it would result in a complete collapse of the banking system. Through his considerable influence, at about 4:45 a.m. he persuaded the unofficial leader of the trust companies to sign the agreement, and the rest of them followed.[47] With this assurance that the situation would be resolved, Morgan then allowed the bankers to go home