The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1883-08-16

feyerlsh period, during which stocks
inlght slnk lower than at present, followed
by strong upward movement, lasting all
winter. There was no reason In the world
why any panic should be feared, the busi-
ness OF the country being In an excellent
condition, and the outlook fora large export
trade OF grain being unparalleled. Condi-
tons which preceded the panic of 1873 are
al absent. Broyton Ives said he did not
believe the failure of Ballou &c Co. would
affect prices, unless II was to send them up.
The moral effect OF such failure was. OF
course, bad at the moment, but
there was no reason to believe
the winters business would not be sucb as
to cause flow Of gold towards this country
by Christmas. Alter the exchange closed
number OF leading bankers expressed
themselves as feeling more confident that
suited in placing the market
on healthy basis, and already there are
indications Of investment. The public.
both here and abroad, are purchasing.
sales sales o. stock, according to the official list
shares, A broker, who did not leave all
day, estimates them at fully 700, 900 shares.
NEW YORK, Aug. IA George w. M, Bal.
lou q 70. announce their suspension IN
! he stock exchange. The firm states that
the suspension Will be only temporary.
street and on the Stock exchange to-day.by
the announcement of the failure. The
house did a large and extensive busi-
ness, anc its customers were prin-
cipally bank presidents throughss
out the =, country, Boston Capitalists
ana New England estates. Ballou refused
to make any statement concerning the sus-
pension, other than 1t was caused by the
failure OF his customers to respond to calls
for margins. Another member OF the firm
said the trouble was merely tenn
Porary, ana that everything would
principal stocks carried by the firm were
Ontario. Western. Missouri Pacific and
western U Aion. 1t is roughly estimated
that the Liabilities amount to
rfs%sen TnSef the saeooo e9obs0ge raIS and $4,000
all of the stocks carried bv the firm
were sold at exchange prices and not
materially affected, but there was no end to
the rumors and excitement. 1t is said the
failure will seriously cripple several other
large houses in the street.
u, BOSTON, Aug. l4.-At the Office of George
Wliliam ballou & Co. very little respect
ing the suspension is to be learned, 1t is
stated, however that the assignment has
been made to Thomas NJ. Evan. who ia con-
rected with the firm.
A prominent banker of this citv
said that Ballou's suspension was occasioT-
certify the firms checks but that the en-
barcassment was probably only Temporary.
The firm has been larger holders of
San Pedro, Toledo, Cincinnati and st. Louis
and Mutual Union stocks, and the suspen-
sion was due in large degree to a decline
In these shares.
At the office of George William BaIlou
It is said they have no statement to make.
and expect to resume business in a short
time. About 1900 shares of stock have
been closed out under rule for account of
Ballou.
The announcement that George William
Ballon d Co., had suspended, caused ex-
citement on the streets and in business cir
cles, secondarily to that of following the
suspension OF the Shaw Bros. & Co., a few
lays ago. The first intimation to the Bos.
ION house OF any trouble was q dispatch
rom Baliou, saying the assignment had
been made to Theodore M. Nevans, clerk
n the New York house. Ii was
is much surprise to the Boston firm as to
he public generally. Members of the firm
iere say the Boston house is all right, but
II course will now have to 90 down
With the New York concern.