The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1884-05-15
The Crash Of Falling Banks and the
Groans Of Crushed Depo8itOrs Add
to the Horror of the Din.
Eight New Big Failures Reported Yester-
day-S62, ooo, 900 Shrnkage in
Thirty Hours.
The Banks Combine for Mutual Pro-
lection, and the Clearing House
Appoints a Committee.

New YORK, May l4.-This is another
day Of excitement and panic on Wall
street. Several failures have already oc-
Cured and several others are expected
to follow. The heavy stock operators
and bankers have been endeavoring all
morning to restore confidence, but tho
feeling seems to have taken root that a
general financial reyulsion is inevitable,
but to what extent business outside Of
Wall street will be affected thereby is
purely matter Of conjecture.
A panic occurred at the Stock Tx.
change Immediately after the opening.
The recent astounding developments Of
the failure of Grant & Ward and the Ma
rine Bank, and the heavy losses of John
c. Emo, late President of the Second Ma
tional Bank, have had such a demoralz
Ing effect that every body who had stocks
TO sell tried TO get out as best they could.
Gould and the bull clique tried hard to
hold the market, but could not take ad.
vantages, and to-day they let the market
take its course and prices fell with light.
ming rapidity, and brokers lost their
heads. every one for himself" was the
order Of the day and pandemonium
reigned at the Stock Exchange.
The first failure announced from the
rostrum was that of Nelson, Robinson &
Co., Of Is Wall street, the second an
nouncement Immediately followed of
Gaff & Randall, OF New street, aud then
the climax came by the reading of the
suspension of the well-known house of
O. NJ. Bogart & Co., OF Broadway and
Pine street.
\ reporter saw Nelson Robinson, who
was so overcome with emotion that he
could hardly speak. He could not tell
how much his liabilities were, but said
they would not exceed $1,000, 900. Rob-
inSOn is a son-in-law of Geo. d. Senev,
President of the Metropolitan Bank, and
it was currently stated on the street that
Seney was heavily involved by the fail
ure. Robinson said that Seney was u-
terested, but he would have to take care
vi his own affairs.
The suspension of Calf Randall, it is
said, was the result of their connection
with A. Dyett l. Co. and of losses sus-
tanned on account OF JnO. c. Emo. Mr..
Randall said that at present he could not
give any statement of theiraffai Every
thing Is in such condition that he did not
know how he stood
Jay Gould shortly before II a. IN. to-
day came out OF the Safe Deposit Com
pany with Mr.. Morrison and clerk with a
large canvass bag of securities He
looked pale and nervous, and appeared so
much troubled that it was apparent to
every one VINO saw him slowly walking
down Broadway, his eyes looking toward
the pavement. His office was crowded
with people, who endeavored to get some
sympathy out of him for the future course
OF the market. In reply to a qucstion as to
what would be the result of these heavy
failures, he slowly said in words scarcely
above whisper, 81 think it will be bet
ter" In regard to the rumor that the
firm of WIN. L. Conner & Co., was in
trouble, Mr.. Gould said "Thcre was not
u word of truth in it,"
There is much speculation as to what
the day will bring forth. statement
published in the morning papers to the
effect that President Emo of the Second
National Bank had resigned and that his
father had made good his debts to the
bank, did but little to allay the fears of
spectators, and the question of the bank
opening its doors this morning was freely
discussed. Many contended that in con-
sequence Of Eno's speculatons the con-
Germ would suspend. Others asserted
that the bank would meet all demands.
Rumors of impending failures were
thick, and when the Exchange opened
there was a perfect rush for admittanCe.
In less time than it takes to tell it the
board room was crowded, and immedi-
ately on the announcement of the chair
man Of his readiness to proceed to BUSH
ness, the outpour of stock was such that
prices at once began to decline and with
such rapidity as to cause the most in
tense excitement. Brokers struggled
and shouldered and We'd with
each other in the attempt to
market stocks, and all efforts to keep
order were fruitess. The Board room
was turned into veritable bedlam. Mes
senger boys rushed to and from the Ex-
change with messages from brokers and
| partners and others not privileged to the
floor. Business had hardly begun when
the announcement was made that long
| line of depositors had assembled in front
of the Second National Bank, and that a
heavy run was fairly under way
The suspension of Golf 4 Randall, stock
| brokers, was announced from the ros-
trum, and then followed in quick success
| sion the announcements of the suspen-
| sion of Nelson, Robinson & Co., o. Nj.
Bogart & Co. and }. s. Williams, and then
the. old firm of Hatch &lFoote. Then came
the news of the suspension of the Metro
politan National Bank. When the last of
these startling announcements had been
made the scene in the room was
beyond all description; the confu-
sion prevailing, together with the
noise of thousands of throats, all
yelling at once made it almost impossible
for business to 90 on. Block upon block
| of stock was thrown on the market re-
CARELESS of consequences, while several
thousand shares were sold under the rule
for account of suspended firms. Every
one seemed to have lost his senses, and
one looking at the scenes In the board
room from the galleries would have