Custer chronicle. [volume] (Custer City, Black Hills, D.T. [S.D.]) 1880-1890, 1884-05-24

, came another blow in the failure o.
Donnell, Lawson & Simpson, and the
climax was capped by the announce
ment that the Atlantic State Bank OF
Brooklyn hadtlosed it's doors because
Of money tied up i'm the Metropolitan
Wall Street, from Trinity Church to
Pearl street, was simply a mass Of yell.
ing, rushing, fearful, and pale faced men
From III to 4 o'clock friends met friends,
compared notes and hurried away.
Brokers wore banched faces, and many
had eyes Of the peculiar red that comes
only from tears. To add distress to the
scene, hundreds of ladies hurried TO the
street in carriages early in tho afternoon
and added their tears and lamentations
to those Of their relatives and friends
Mr.. George I. Seney was calm, and
spoke to his friends pleasantly. Russell
Sage wore a perpetual grin on his face
as the brokers rushed in to his Office,
putting" to him his stock. He had
piles Of 81 900 bills and certified checks
and calmly dated them out rs fast as his
clerks could figure the amounts due. In
| this way he received more than $24O, 600
shares OF mixed stocks and paid out
several millions in cash. Jay Gould
was in the vicinity Of Wall Street and
the Western Union building all day,
and never for a moment lost his head.
To all inquiries he said, II look for a
bettermcnt at once. The worst is over"
The best opinions say Grant & Ward
and the Marine Bank are not response
blc for to-day's panic, and that the act
nal cause was quarrel between Gould
and Sage. On Monday and to-day a
huge block Of Western Union was mys.
teriously thrown on the market, suppos:
ed by Sage, and it dropped from 90 to
"a in twinkling. Gould never for a
moment disappointed those brokers who
have been declaring that he had seen to
liquidate his holdings. At Gould's Office,
however, there was no excitement. A
great deal Of worriment is expressed for
the failure of Donnell, lawson & Simp-
son, as they have 100000 locked up
in the Metropolitan, and are New York
correspondents for between three hun
dred and fifty and four hundred banks
and bankers scattered throughout the
states. The Metropolitan Bank en-
barrassment is attributed to the bank
being so extensively mixed up with
George l. Serey's railroad speculations.
1t is believed tonight that the bank will
pay depositors in full. The Second Ma
tional will 60 right ahead, and the
Brooklyn Bank is certain 10 resume as
aoon as it can realize on securities held
in its vaults. Every rumor Of other
banks being affected was carefully run
down, and it is not believed that any
others are in danger. The feeling is that
a number Of small and medium failures
will be announced Immediately after
the opening Of business tomorrow
morning, but nothing serious is appre-
hended. The Clearing House banks
have made mp a giant pool for mutual
PiotCNNoht aud are
promptly responding to their favorite
banks. A rough estimate places the
losses on Wall Street to-day at $55, ,OOO,-
600, but of course there is no way Of get
ting at even approximate figures.
NOTES.
New York, 10th.
Twenty-Five savings banks in this city
and Brooklyn experienced slight runs
to-day, but they were not hurt, and con-
tinued to feel glad that depositors were
removing idle surplus and saving thou
sands of dollars in June interest to the
banks. The Metropolitan and Second
National continued business as usual
and the Marine remained tightly closed
Early in the afternoon the brokers be-
gan figuring on results. Since January
last the shrinkage in value is placed at
s., 500, 100000.
At all events, the prevailing opinion
at the close of business tonight was that
panic had been entirely averted, and
after the Sunday rest business would
open in good condition Monday. A few
| small firms will go under, tomorrow,
and when June settlements are made
! the list Of suspension will be enlarged
The probabilities are that Fisk & Hatch,
0. NJ. Bogart, and Donnell, Lawson, and
Simpson, will resume business on or be-
fore Monday, June.
At the Windsor Hotel tonight one Of
quiet points discussed by brokers was
the fact that James r. Keene had been
lost sight of during the excitement,
while he was piling up another fortune
by the drop in stocks. 1t is said by one
of his intimate friends that Keene has
recovered 81 .I6O. 900 on his short sales
since Wednesday noon, and that he will
be firmly on his feet again next week.
Others place his gains within the past
seventy-two hours $500 900 higher, and
say he has tapped Russell Sage alone for
nearly 100000.
The Sioux Reservation.