The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1883-08-15
Telegraphic.
THE BUSINESS OUTLOOK.
Another Heavy Failure in New York.
A General UneasinesS but Confidence Ex.
pressed that There is no Danger
Of PaniC-General
News.
Another Heavy Failure in New York,

chaNBe' BallOu 90. are large bankers
aud brokers, with branches in Boston and
elsewhere. One OF the causes given for
the suspension is that their New England
customers were unable 10 respond 10 calls
for margin. Members OF the firm say
their suspension will only be tempo
rary.
1t is believed the firm had money tied up
in the Cincinnati, Toledo and 81. Louis
Narrow Guage that recently went into
the hands Of a receiver. 1t is understood
thr a syndicate is being formed to assist
Bilou * co., and that they will re-
sumo business soon. The failure il attri-
Uutod largely to holding in Oregon and
rrnR continental; IN, 900 shares Of differ
ent stock we're brought and sold under
them.
After the announcement OF the failure a
nutctor feeling has walled in stock cir
scs, IL being generally believed that the
suspension Will not lead to any other fail
ores. II 4. stated that Ball0u & Co., were
recent long Of market and turned bears al
rbout the lowest prices touched. At the
Boston office OF Geo. VIM. Ballou e. Co.,
very little respecting their suspension is 10
he learned. IL is stated, however, that an
assignment has been made to Theodore NJ.
Ncyen, who l. connected with the firm. AT
the office, II Is said, they have no state
neni 10 make. They expect 10 resume
ru,lness m short time. Money Is in good
sunp'y AZ per cent. on acceptable coater-
SIS. The share market is firm and less &C.
tive. About II, 900 shares Of stock have
been closed out under the rule for the &C.
count OF George William BsllOu.
THE LIABILITIES.
Intense excitement was caused in Wall
stree and on the stock Exchange to-day
by the announcement Of the failure OF
& orge William Ballou 4 Co., bankers;
tn finn composed Of VIM. II. Bingham,
Board member, David II. Darling, George
VIM. Ballou and Allan $. Weeks. The
house did large and extensive business
and the customers were principally bank
presidents throughout the country Bos.
ton capitalists and New England estates.
Ballou refused to make any statement con-
corning the suspension other than II was
caused by the failure OF his customers to
respond to calls for margins. Another
member Of the firm said that the trouble
was merely temporary and everything will
he Strengthened out in a few days. The
principal stocks carried By the firm were
Ontario and Western, Missouri Pacific and
the Western Union. The roughly estimated
liabilities amount 10 between 400, 100 and
500, CO.,
BANK PREsIDRST's OPINION.
Mr.. Edwards, President OF the Bank Of
tue State Of New York, speaking VI the
market, said that there was not The slight
est danger OF u panic, He was disposed TO
regard the decline as good thing. 1.-THE
public, - he said, "were out Of the mar
ket, aud the people for whom the brokers
are carrying stocks are amply able TO hold
them, Mr.. Washington l.. Conner accept
ed the situation philosophicaliy. He, too,
thought the depression WAS healthy and
would be good thing for the ma-ket. Mr..
4. s. HatCn, president Of the Stock TX.
change, was found in his Office.
"Do you regard the situation As very re.
riouSY asked the reporter.
"There is no more danger OF panic than
there is Of your being struck by lightning
out In the sunshine there. The country is
prosperous. Every year the soil adds g.
bVOs wv, Wv W Jul NFAltu W
OF grain, cotton and ores. There is no
cause for alarm, The condition OF the stock
market is the result OF liquidation carried
too far. For two years the liquidation has
been in progress and this Is but the climax.
BY and by operators will discover that
prices are too cheap and then they will
Chamber over each others shoulders in the
haste TO purchase. The gen.
era public have been out Of the
market for two years and will not be affect.
ed by the decline In prices The present
present excitement does not compare Ia
the slightest degree 10 that OF the panic Of
1873" A member OF the house OF j, & W.
Srligman also spoke with equal emphasis,
1.-The decline in business, " he said, lis
caused by the general feeling Of distrust
among buyers, which is the natural result
Of over. production. Speculation has been
going on for two years aud we have now
reached a point where stocks must 70 to
the lowest level, Better that they should
be lower than they have been. As soon as
the people have made up their minds that
stocks are cheap, then they will stop the
decline aud begin buying. There Is no
pancky feeling prevailing. Money is easy,
the banks are conservative, aud
there is no cause for alarm. II disaster
was to have come II would have arrived be.
fore this. -
Mr.. Henry Clews, who had reason TO re.
member the panic OF 1878, said that the
present excitement VAS greater than at any
time since that period. lie compared yes.
terday $ contest to the battle OF Waterloo.
1.-The bulls, - he said "like the French
were slaughtered numerically. Abau-
doned by their marshal they have thrown
down their weapons and ammunition and
taken to their heels, such OF them as have
not been riddled by the cnemy's bullets. -
hlr. Clews regards the decline An healthy.
lie thought there was no fear OF general
disaster. "'rhe decline is healthy he
repeated "and 80 is sea sickness, but IL 10
very unpleasant"