The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1884-05-22

bank examiners, having made an invsttiga.
tion, the bank wonli resume business ., II
o'clock.
a, W, Dimick & Co, brck,Y', have aus
pended.
0:i5 q. m.--rhe scene on the street at
this hour IL one OF unwonied activity.
Slrce early this morning. in the brokers OF.
ilce9 which opened, ths clerks have been
busy getting their accounts settled no.
Many leading firms were kept employed
until midnight. A general over hauling OF
accounts were made on tue opening OF the
exchange this morning. Affairs are In u
better condition than for many months
past. New margins have been called for, 10
prevent u rash sacrifice OF good securities.
A representative OF the Associated Press
has Just talked with tinancier OF thirty
| I've yevrs' experience, aud he says the 40
ton IL the banks Ia deciding TO pool issues
has decided tho situs'ion fayorably, and he
does not anticipate further failures
n either nn ants. or , oshsiag
that some weak stockholders may suspend
| temporarily. The failure Il the latter he
does not regard ss II misicrtuoe, as the
wedding out OF small dealers helps to give
healthier tone 10 the genaral situation.
Jay Gould states 10 tho Tribune that this
disturbance isn seussiess thing. Ut comes
from the fear OF each other by both banks
dNu UrOktTS, L Fu'nts tubu tnibB
else. The general calling OF loans was
wholly unnsc 'sssry and foolish. lsuppose
the banks were little more cautious than
usual on account Of the ioss accidentally
suffered by the First National bank LAST
week. but / think the worst IL over aud
people will regain their senses and there
will be orders here from all over the coun'
try from pereope eager 10 pick bargains
The action OF the banks is excellent and
tx-ir I'm mr.
whilet he blnAs stand together. am sure
all this excitement is at an end"
A. NJ. Dimick says This trouble 81;
csused ov inability TO raise money on &c
curities OF all customers George Fat
m u Smith. has been appointed assignee,
with preference to customers
Russell Sage 10 paying all demands on
privileges. The report that no had laid
down on contracts was started by somebody
ignorant of the ways of the street. The
only contracts he refused to take yesterday
were on those on which one days notice
waS not given.
A dispatch from Boston reports the sus-
pension OF +. A. Hawley & TO-, firm,
which, although not heavy dealers, was re.
garded as In &C ID standing. Hotchkiss q
Burnhan are. balancing accounts and eS'
pect to resume tomorrow.
Cyrus w. Field said: THE worst was
over, and a good thing this crash came
just as 1t did. 1t would prove great ben
eft to the entire country. Not man In
the United States but feels better
at the upmasking and exposure Of the men
who were looked upon az examples OF imam.
cial honesty and shrewdness Think Of 1t.
securities with money belonging to depos;
and caused great disirust in the psst
two days. Now we shall have better times.
| Young Eco will not have chance to spec
ulate sgain. The time has arrived when
the Well street methods must be reformed,
and that was what was needed to do It."
Kiernen's agency says Davis 70; has
received orders from London to buy both
stocks and bonds. London market for
American securities is advancing and q
strong feeling prevails in the stock market.
The Commercial says the general TOPIC OF
discussion wes the remarkable position as.
sumed by President Seney and the directors
CT the Metropolitan bank, who announced
the bsnk had suspended, not because 1t had
to, but because II chose to.
From the New York Tribune OF Friday:
The statements OF members OF Donneil,
Lawson e. Simpson, on Wednesday, that
their suspension was due wholly to the SUE
pension of the Metropolitan and
National banks were not con-
firmed yesterday, Metropolitan having
resumed. A similar action on the part Of
the banking firm was apxiously awaited.
TO be whispe red around that their failure
would be total. Bonds of the Cleveland,
Youngstown & Pittsburg railroad were
mentioned ss the matter IN which they
had been most crippled. This was
the security over which the Bank
of the Republic directors had Q
difference about month ago, which
resulted in President Ford's resignation.
The Bank Of the Republic was one Of the
two banks with which Donnell, Lawson &
Simpson did business, Mr.. Simpson being
a director in 1t. 1t was said George
I, Seney had uploaded lot
Of these bonds on the firm, and that their
dependence on the Metropolitan was such
that they could not refuse to be thus
used. At the firms Office on Broad
way, a long list OF notices from
drafts would hereafter be paid, indicated
how widely their business vas distributed.
There were over 400 banks for whom they
transacted the New York business scat.
tered through George, Florida. Texas,
Missouri, Kansas, Arkansas, Nebraska,
Iowa, Colorado. Utah and other territories.
Over leo bulletins we're posted on the door
day trying to see where they stand. Law
To Tribune reporter yesterday Simpson
said: 1--WE are. still figuring up and
trying to get to e point where
you anything until about tomorrow after:
noon. There 10 . prospect that We Will
resume. That is the point toward which
an assignee or receiver been decided upon?"
mo, Sir; nothing Of that kind has been or
will be done now; We shsll not make an AZ.
Segment unless sstisfied We cannot &c on
Sl settle ,oG our c9 WS.s ara ; var
liabilities" 1--WE can't tell exactly; In the
neighborhood Of 5000, 900" "How much
are ycpr assets WORTH" They asy,, WI aa,, be
I now think" us there any ruth 10
the rumor that eeney unloaded Cleveland,
youngstown & Plttsburg bonds on
You? ""Not word Of truth In II; President
beney has unloaded nothing on us ut any
time" Nv hat has neen the character Of
your securitle.F' "They have been such
% would commend themselves TO couserva-
tive judgment; the erestest .hrinksge n
upon which We made advsr ices, Oleve-
land, Youngstown and Pittsburg; those
deposits in the Metropolitan ut was
much 'rger than We could have wished"
"Csu you not resume now that the Met
had done so2' THAT ID what We
are trying to do; We shall
know to morrow" at 10 understood
You have been offered $S0o. 900 70 help you
oai2r "Yes, 8. B. EIkins offered that,
but that would have been drop In
the bucket; We were fsred several
hundred Thousand dollars by cab .. but
10 must see where We stand first" An
attache OF the firm told o reporter |
that matters had gone 30 far the
rssum ption would be impossible. The |
bccJ COO OF 8. B. Elkips was made |
10 good faith and may lead to the re.estab- !