Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1884-05-15
EASTERN NEWS.
Unprecedented Excitement
in New York.
THE CITY TURBULENT OVER
A MONEY CRISIS.
Millions Upon Millions Lost and
the End Not Yet.
THE PANIC EXTENDING 70 OTHER
COMMERCIAL CITIES.
Trains Telescope and Passen-
gers Are Cremated.
TRUE DEMOCRATIC SPIRIT IN
TRUE DEMOCRATIC SPIRIT IN
NEW JERSEY.
ESPECIAL TO THE sEsr1sEL.I

| ESPECIAL TO THE sENTISEL.i
New YORK, May 14-10:30 A. M.-The
| scene at the Stock Exchange was n OF
intense excitement this morning. There
was a rush to sell stocks, partly on account
| Of brokers unable to meet their engage
ments. Before 1915 Nelson, Robinson &
| Co., and Goff Il Randall announced their
| suspension. A drop of 1 to 81 per cent,
as compared with yesterdays closing. The
downward movement being accelerated by
rumors that several bull pools were forced
to liquidate. Louisville Il Nashville broke
from so to 35; Western Union from 81
to 81; Union Pacific from 2n to 40;
Northern Pacific, preferred, from 3h to
At; Pacific Mail from 81 to SO; st. Paul
from "a to II; Lsckawanna from IL to
Ill; Northwest from Ia to 1861; Oregon
Transcontinental from 4 to IL; Pullman
from 2 to 104, and Canada Southern from
~ to 38, then rallying to 4 per cent, but
before 1870 A. NJ. the market declined
again. A. DECEIT d Co. announced that
William Heath Il Co. will settle
for stocks bought, sold, borrowed or
loaned by us previous to this date.
The National Bank Examiner has an
nounced that the Second National Bank is
solvent. A. NJ. Bogart & Co., bankers,
have suspended. Nelson, Robinson d Co.
announced that all active stocks carried
by them were sold yesterday, and the peo-
pie carrying them in loans need not be
alarmed, as they will show their books,
proving the money obtained for them. j.
G. Williams, broker, says he will announce
his suspension later in the day. Several
stocks were bought in under the rules
this morning for account of Hatch &
Foote, who announced their suspension at
the Stock Exchange.
IL A. M.-The stock market is ragged,
some Of the stocks showing 8 sharp re-
covery and Others at the lowest prices of
the day. The failures have stopped for o
moment, but the air is thick with rumors
Of further suspensions. Few know pre-
cisely where they stand, and the situation
is strained.
The Metropolitan Bank has suspended
and the doors are closed. George I. Seney
is President. o. NJ. Bogart & Co. assigned
to John Wheeler, preferences of $50, 900.
The oil stocks guaranteed by Nelson, Rob-
inson d Co. are a good delivery. Secre-
tary Of the Treasury Folger is in town, and
telegraphed to Washington ordering the
immediate payment of the 127th call for
bonds. If necessary he will order another
call for Sill ,000, 600. The failure of Hatch
& Foote was precipitated by the Phenix
Bank refusing to certify checks.
NooN-A meeting of the clearinghouse
was called for 100 P. M. to-day to con-
slider the financial situation. The banks
are crowded with anxious depositors. 1t
is impossible to get near any one in au-
thority. The financial complications OF
the past week were supplemented by the
revelations regarding the management Of
the Second National Bank, which resulted
in the resignation Of the President, which
brought about such a feeling of uncertainty
in the financial situation that at the open
ing of business at the Stock Exchange this
morning it was felt that q disaster was iras
minent before long. One failure after an
other was announced until five stock firms
had suspended and the Metropolitan Bank
| had closed its doors. Its President, George
| |. Seney, has been one Of the most promi-
\ nent spectators in the Exchange, and was
rated high. The failure of Hatch Il Foote
is likely to involve country firms, az they
held accounts with many private bankers
/ outside of New York, as well as individuals
West and South.
Secretary Folger, who is in the city, tele-
graphed TO Washington TO take the bonds
Of the 127th call IN presentation. The
bonds are not due until June 20. The
Secretary further promises such steps as
| will relieve the present situation.
At the Custom-house both sidewalk and
carriage way are impossible. At the doors
OF the suspended houses the masses
Of humanity are denser. Many dis
consulate faces gaze at the closed doors.
Among the crowd are seen several we'll
dressed ladies, some present from motives
other than curiosity. The news Of the
disasters seemed TO spread with lightning
rapidly. Private carriages and iveried
servants from mp town are flying through
the streets. Many now stand outside the
doors Of banks and banking houses. The
directors OF nearly all the banks are either
in session or present in buildings ready for
an emergency. The doors OF the Stock
Exchange are guarded by policemen. The
| galleries are clear. No one il admitted to
messengers, because the crowds endeavor-
ing to gain sdmittance are too large for
the capacity Of the building.
1890 P. M.-There are sensational rumors
affecting the s~olvency OF several banks.
but investigation proved them false.
except in the instance Of the Met
ropolitan Oil Exchange. which caught
the infection very quickly, and prices
dropped 10 points. Secretary Folger says
the break % due to reckless speculation by
q few men. He will do everything in his
| power to prevent q s~tringency. He stated
that there is plenty Of money in the
country. I do not anticipate any extern
sive panic. The situation Is moi Is weak
as the people suppose. / shall do every
thing in my power to restore confidence.
A telegram from T~wenty-third street re-
ports three lines Of depositors. Bogart &
Co.'s failure il considered important, as
they are large dealers in commercial
paper and dealt somewhat in privileges
and were considered solid. Wall, Broad
and New streets, surrounding the Stock Ex-
change, are filed with surging masses. and