Savannah morning news. [volume] (Savannah) 1868-1887, 1884-05-15
RIBA's REAssURING CARD.

sCRIBA's REAssURING CARD.
The following notice was posted on the
door this evening:
After an investigation of the affairs of the
bank l am satisfied that it is in a per
fectly safe and solvent condition.
lSlgnedI a. NJ. serbia,
National Bank Inspector
This notice caused good number to
turn away satisfied. All those who wished
to draw their deposits were given them,
Secretary of the Treasury Folger came to
the bank this morning and congratulated
Mr., Emo and the new President on the
successful termination of the banks
troubles. Mr.. Phelps, one of the directors,
said that the reason they opened it so early
this morning was to prevent panic. The
ladies appeared more anxious than men
and a great many withdrew their deposits.
All was order around the bank and
there was not much excitement.
THE FIRM OF ROBINSON 4 co.
The firm of Nelson Robinson & Co. is
composed of Nelson Robinson. Robert
Seney and George /. Seney. Mr.. RobIn-
son is sOn-in-laW of George l. Seney, ST.,
and Mr.. Robinson's two partners his sons.
Mr.. Robinson says that all the actual
stocks in which he traded were sold yes
terday. Those having stocks in loans
would find their deliveries all right.
Mr.. Seney, ST., said that Nelson Robinson
II Co.'s account in his bank was all right.
The greatest excitement was created
when at II o'clock this morning the an
nOuncement was made that Hatch &
Foote had suspended. The cause was the
neglect of large customers to answer
the frm's calls for margins. The great
est sympathy is expressed for the firm,
which stood high in the esteem of tho
commercial world. d. B. Hatch said
that it was impossible for him to say
whether the suspension was temporary
or final.
GRANT & WARD OWE OVER $l4, 1000, 900.
In the Grant & Ward reference to-day,
Julian I. Davies, receiver of the firm,
said he believed that Gen. Grant and his
sons were ruined, and that they had no
part OF the firms property in their pos
session. From his investigations thus
far, he believed that the firm owed about
Sl2, ,537 borrowed on cOllaterals, 81 ,2S9,-
SOi Of borrowed money due depositOrs ac-
cordlng to the ledger account, 1927, ,222
balance Of stock transactions, and $534, 1862
due general creditors, including the
Marine Bank, making total of $14,
53l. The unsecured debts were between
$2,OOO,O00 and $4,000, 900, he thought. He
knew nothing in regard to the assets.
Walter j. Johnston, the receiver of the
noon at the bank. He will probably make
a statement within few DAYS.
At O'Clock this afternoon il was esti-
mated at the Second National Bank that
over 100000 had been paid out during the
rush.
A DEFICIT OF $4,00O,000.
A rumOr prevails now that the deficit
amounts to $4,000, 900, and that Amos r.
Emo, father of President John c. Emo,
paid $3, 800, 900, while the directors made
good $500,00O. An instrument was re-
corded in the Registers office to-day by
which Amos r. Emo revoked a certain
power of attorney given by him to his
son John G. Emo in 1915. The document
further recites that all powers Of any
kind or dates heretofore given to John q.
Emo are hereby revoked. The signature
of William Walter Phelps appears as the
name Of the witnessing party.
NEWSPAPER COMMENT.
NEW YORK, May Is, A. M.-The news
papers, in editorials, ask all to keep cool:
approve the action of the banks, through
the Clearing House Committee, in resolv-
ing to stand by each other, and recognize
the panic as an overthrow Of stock gam
blers and the going under of those whose
business is mainly or wholly upon credit.
Continuance on Thursday Of the commo-
ilOL VI W GuhCSQolJ 10 LOb GADGClGus
A CONDENSED STATEMENT.
WASHINGTON, May 14.-The following
is a condensed statement of tO-day's tinan-
cial casualties in New York and else
where. The Metropolitan National Bank
of New York and the Atlantic State Bank
of Brooklyn suspended. The latter bank
was heavily concerned with the MetrODOli-
tan Bank, and its failure was result of
the MetrOpolitan's failure. No other
charter banks have failed so far as an
nounced. The following bankers and
brokers have failed: Hatch g. FOote. Don
nell, Lawson 81 Simpson, HOtchkiss &
Robinson & Co., A. Dyett & Co.,
GOtf Il Randall, and Joseph G. Will
liams & Co. The first four firms
were substantial concerns and the
amounts involved are very large. Secre-
tary FOlger has ordered the immediate
payment of the $l0,000,000 in bonds en-
braced in the 127th call which, but for to-
days order would not mature till June 20.
He is quoted as saying that if necessary
he will issue another call for $40, 900, 900
worth of bonds. Hundred of telegrams
from New York have been received by
members of Congress to-day urging i'm
mediate legislative action to relieve the
financial strain. Many kilograms were
received by many Representatives just
before the adjournment.
PROPOSED RELIEF MEASURES.
The Houses unanimous consent was
asked by Mr.. Springer to pass Mr.. Ding
ley's bill authorizing the Secretary of the
Treasury to invest in bonds lawful money
deposited by banks for the retirement Of
circulation. The effect of the enactment
of the bill into law, 1t was explained,
would be to put into immediate circula-
Oh L III.
of Indiana and Weller of Iowa objected
and the House Immediately ad-
journed. A meeting of the Committee
on Banking and Currency has
been called for Monday morning
to discuss the best method for securing
the passage at the earliest possible date
OF both the Dingley and Mcpherson bills.
1t is expected that the committee Will be
able to have set apart one day next week
for consideration of the measure. The
Mcpherson bill has been favOrably acted
upon by the Senate. The Dingley bill has
not yet been considered by that body.
Only one failure has been reported out
side OF New York and Brooklyn; that was
a small stock broker in Philadelphia
named Charles M. Bayard. who was
"long' of Reading.
The Comptroller of the Currency has
ordered several bank examiners and
OluCI OuuCldiS Oi HIS bureau 70 NEW 1OFk
to assist Examiner Serbia in looking
after the affairs of the broken banks.
Among them is Lucian B. Curtis, Exam
iner for the Southern Atlantic States. In
an interview to-day with an associated
press reporter in reference to the condi-
tiOn of the banks of the country at large,
the Comptroller said that they seem to be
in an exceptionally strong condition; that
most OF them are carrying unusually
10, hnA 10 4
fairs is entirely different from that of
1873, and that he does not think that a
general panic similar to that of 1873 is
possible.
WASHINGTON, May IA, 10 P. M.-The
news from Wall street created consider
able excitement here. The local banks
are all considered sound and there were
no runs, but the tickers were closely
scanned all day. At the capitol number
of Senators and members who were inter-
ested in stocks were eager for every re-
port. These reports were innumerabIe.
Ten New York banks had failed according
to the reports by 2 O'Clock. In the House
Mr.. Belford improved the occasion by pre-
dieting the worst panic the country had
ever seen and a Socialist uprising besides.
within the next twelve months
"Calamity'' Weller remarked to Mr.. Bel
ford that he would soon share Mr.. Weller's
title if he kept on predicting disaster.
when at the close of the day Mr.. Springer
attempted to put through Mr.. Dingley's
bill authorizing the Secretary of the
Treasury to invest the national bank
note redemption fund now amounting to
upwards of $40, 100000 in three per cents.
kilograms urging its immediate passage.
having been pouring In all day, ''Ca-
lamity" Weller objected and defeated
consideration.
LONDON EXCITED BY THE NEWS.
LONDON, May 14.-There was one small