Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1884-05-16

ll04 for registered fours and halls. to llC
ll23 for cupons, to l22 asked for fours
registered and to 100 Isl for cupons is due
TO the fact that holders are anxious for the
cash, and are selling. Money outside of the
stock exchange is at per cent.
Metropolitan Bank Paying Depesisors
p. M.-The Metropolitan Bank is pay-
ing out TO all depositors presenting checks.
Even before the hour named for resumption
the paying teller opened the window. AT
noon the number in line was about twenty
five only. One lady was among the lis {, she
being artired in widows weed. Her joy on
receiving money was plainable. 1t is stated
that the Bank of Commerce was this morning
debtor TO the clearing house 10 the amount
of over one and half millions. Money is
now loaning at one-fourth TO one-half per
cent premium per diem.
The Street Again Excited.
Pas P. M.-The failure of Fish & Hatch
is announced. The clearing house has
already issued four million dollars of loan
certificates authorized to be given TO the
banks of the association applying therefor.
The suspension of A. W. Dimock & Co.. il
is said. viii prevent the contemplated extern
sion of The bankers and merchants tele-
graphic system.
There has been a semi-panic in oil in this
city. The failure of Fisk & Hatch and the
suspension of Bradford Clark has created a
distrustful feeling. 1t is rumored that
Several Heavy Capitalists interested In OIL
Are In Trouble.
At 3l5 P. NJ. the oil was selling at So. but
before the close it broke to "a, and is now
offered on the street at ~. No failures have
haa DIV hos
der it will be given out tomorrow when the
clearing is made.
This closing of doors of the Atlantic State
Bank of Brooklyn embarrassed the deposit
ors, and caused a feeling of uneasiness among
business men. President Puffer stated last
night that the bank would resume business
today, as the securities were all good, and
the suspension was caused by the effort to
help the Metropolitan bank. There was
gathering of depositors this morning at the
bank, but they were unable to get any money
and were very indignant in consequence.
President Puffer assured them that it would
be all right, and they would lose nothing
He promised to have a statement for publi-
cation ready this afternoon The panic
seems to have extended to the depositors of
other banks in Brooklyn as well, and large
amounts of money were drawn out of the
run, however. and many of them were by no
means disturbed bv the withdrawal of the
surplus funds. They save thousands of dol
lars interest which would be due to the depos-
itors June lst. Among the banks are the,
BROOKLYN Savings Bank, Dime, and South
Brooklyn savings institutions, whi,'h paid out
large sums to depositors. This forenoon
there was
A Euppn he Urtsh EmNi Sn vi Us
Bank
In Chambers street. two hundred of the de-
positors Withdrawing on account of the de-
positors belonging to the laborlng classes
President Hogarth said that the bank would
gain about SIC, 900 by the Withdrawals. At
two o'clock this afternoon VIM. H. Sweeny,
banker, Is Nassau street, made an assign
ment, without preference. The amount in
volved probably is not large.
Letter From Fisk e. match.
Late this evening Fisk & Hatch handed the
follow ing to a Associated Press representa-
tive:
To our depositors and other creditors =
1t is with great sorrow are obliged to
announce to you our suspension, which has
been brought by combination of circum-
stances. The long continued decline in the
market prices of securities, with a general
weakening of confidence in financial matters,
together with the heavy drainage of deposits.
are the principal causes of our unfortunate
position. We can only request that those
having claims against US to extend to US such
considerations and indulgence as we may
need and it may be in their power to grant.
Very truly,
FISK & HATCH.
The statement that the Bank of Commerce
was in debt to the Clearing House of 81 ,500,-
600 is an error, as the bank was creditor to
the clearing house OF over 50 800, 900, all of
which was paid in cash with the exception of
500, 900 in new loan certificates.
Geo. /. Henry has conveyed to the Metro
politan bank property valued at 81 ,000,00
and will sacrifice still more, if necessary, to
protect the bank.
At the Office of Fisk & Hatch tonight, as
late as II O'Clock great activity prevailed, and
the appearances indicate that none in the
office would leave tonight. 1t was said by
their representatives that nothing satisfactory
could be added to the published circular until
tomorrow.
Hawley 4 Co. Suspended.