Delaware gazette and state journal., 1884-05-15
we deem it best to suspend until we can
see where we stand,

We deem IL DeBt TO suspend unLll we CAL
see where we stand.
ANOTHER sUsPENeIoN.
$50 p.m.-Hotchkiss & Burnham have
just announced their suspension" AS
the close Of the market appro aches
matters are steadying, but the end
is not thought to have been reached yet.
Money ruled sill day yesterday at and
per cent, and the tendency is toward
further hardening. The scene on the
street Is one of intense activity.
New YORK, May IA, WALL STREET. 2.3O
p. NAT the clearing house the bank
presidents are in session. 1t ia said ON
the best authority that the banks
will stand by each other as they
did '73. The resumption of the Metro
politsn is likely. At tho stock
Exchange delivery hour is awaited
With great anxiety. Drafts owned
by the frat National Bank
of Santa Fe on Donnell Lam hson & Simp-
son will be paid on presentation at First
National Bank, thia city.
WHAT THE "PosT" SAYS
New YcRK Msy 14.-The Rst aays Mr..
Foo.e Of Hatch & Foote in reply to in
quirios said shet the failure was due to
tbs embarrassment caused By the
shrink8ge OF securities, some of which be-
longed to the firm, while others were
carried for customers, II was impossible
at present, he said, to form any estimate
of the qualities. There we're hundreds
Of the widest rumors on the street touch
ing the standing of different houses.
Among those mentioned were those of
Lawrence & Smith. OF Broad street.
Mr.. Lawrence was very indignant
when asked by reporter of tbs Ecening
Post whether or not this rumnr was true.
He denied it in the most emphstie terms,
and said that house which had for
more than 80 years stood every panic
that the country had seen would
not be likely to 30 under at this time.
MI. Smith, his partner, said that the
house was never in better financial con
dition. Another rumor placed the firm of
Dimott & Durant among the list of sus.
pended concerns. One of the members of
the firm at noon to day denied the rumor
and said that the firm was meeting all Its
obligations.
CERTIFYING CHECKS.
At II 20 a long line OF men and boys
stood in front of the paying teller's
window in the Metropolitan Bank
at Broadway and Pine streete,
Of which Mr.. George 1, seney
is president. Every person in the line
held one or more checks TO be certified,
the alarming rumors as to failures in
every direction having made unosrtifed
checks of no value no matter by
whom they were signed. just at
that moment the paying teller
shut his window with bsug and
announced that the Metropolitan Bank
would suspend payment, as a matter of
precaution. a break WAS made for the
door where number of depositors were
met hurryiDg in to get denial
OF the rumored suspension. In less
than five minutei the thropged doors
were slut, and policeman arrived to
stand guard on the steps. The first story
told to large depositors, who arrived
breathless and indignant, was that
the suspension had bssn or
dered by Mr.. Seney in order
to prevent a run for which the
bank might not be prepared. 1t was
said by Mr.. Seney that II matters quieted
down in the afternoon he might open in
time for some business to be done to day.
The promise was accepted by q
group Of depositors as OF small comfort
and after 12 O'Clock crowd OF nesrly 100
persons gathered in front Of the bank and
bewailsd the prospective loss OF deposits.
Two women who hal drsf 3 upon the bsnk
were In tears upon the bottom step.
A PHILADELPHIA FAILURE.
PHILADELPHIA, May 14.-The failure of
Chsriss N. Baysrd, stock broker of
| Walnut street, is announced; liabilities
are not consiaere6 heavy.
| ITS LOCAL EFFECT
An EVERY EVENING reporter interviewed
a number OF the leading bankers and
brokers of this city to ascertain whether
| the failures would have any effect here.
| They were found to be unanimously of
the opinion that the affect, if any, would
bs very little, from the fact that
Whining soDiaus do very little speculating
With stocks. SIT may cost several pri
vste spectators S., 900 or ID 600 apiece"
said one, and another said, 1T may make
several citiz ans sleep uneasily for two or
three nights"
d representative Of Elliott, Johnson &
Co. said that the panic would have to be
much more widespread before it would
can9e any loss here.
prominent broker said that of course
the failures would grestly depress stock,
Buying and selling on margin was not
done much here, He did not 10 il him
self Hs thought the local effect would
be very slight
As far as can be asCsrtaired no banks
Metropolitan Of Nav York.