The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1884-05-16

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VINO were looked upon s- Sxampltsot hnaI
cial honesty aud shfswdness fbinsoi Il
presidents OF bsnes tpronlHtirg ~ r.llroa
securitiss money b.longlnR 10 depai
ilors. George 4. boroy rpfculste
sud caused great dislTust Ia the pas
two dave Now we shell hsye better lines
Young Enc will not havs chance To spec
| ulata sgain. The time has arrived whei
tho Wall airegt methods must be- reformed
and that was what was needed 90 DO ~"
| Kiernen'n agency saws Davi1 & 90, hai
reoeiyed orieIs from London 20 buy both
stocks aud honds. London marset FOL
| American securities is advancing and 4
strong feeling prevails In the stock marfet.
| The Commercial esys tho general tooic ol
| sumed by President Senty and the dire ctors
of the Metropolitan bank. Who announced
the bank had suspended, not because u bad
| TO, but because II chose TO.
From tho New York Tribune OF Friday;
| Tho statements OF memhuTG ol D9nnell,
Lawson & Simpson, on WatnesdsY, that
their suspension was duo wholly 20 the sui-
pension Of the Metropolitan and
National banks were not cou-
iirmed yesterday, Metropolitan having
resumed. A similar action on the part OF
| the banking firm was anxi0uslg awaited.
| 70 ssrd the close OF bau king hours u begun
% ba whispered around thhs their failure
would be total Blnds oi the Clsvs and.
Youngstown & Pt,sourg railroad were
mentioned o. IT, Hn tier IN which they
had befn m-r crippled. This was
Of the Repabio directors had a
difference about month ago, which
resulted IN President Ford'a resignation.
The Bank OF the Republic was one OF the
two banks with which Donnell, Lawson d
Simpson did business, Mr.. Simpson being
L., A.
/. Seney had urlosded u lot
OF lhesc bonds Oh the drm. and that their
dependence the Metropolitan wac such
that they could not refuse to be thus
used. a. the firms office on Broad
way, long list OF notices from
their correspondents, stating where the
drafts wouii hereafter be paid, indicated
There w-rs ove- go haoEs i0r whom they
transacted the New Ynr'' business. scat.
tered through Georgia, Florida. Texas,
Miss uri, Kansns, Arkansas, Nebrasks,
Iowa, Colorado, Utah and other territories.
Over lC0 bulletins were posted on the door
Inside. Donnell e Simpson were busy all
day trying TO see whore they stand. Law
son IL Europe.
TO Tribune reporter yesterday Simpson
said: 1--WE ave still figuring up and
W. can resume. We can't tell
YOU anything until Rbou, tomorrow aiter.
nonn There 10 y prospect that We will
resume. That is the point toward which
our arrangements nIe tending" Has
an assicnes or recsiver been decided upop?"
mo, SIR; nothing Of that kind has been or
will bs done now; we shall not make an as
ignment unlese satisfied we cannot 60 on
iaolorIiy without it {" What are your
liabilities 4" "We can't tell exactly; Ia the
neieh borhood OF 5000 coo" "How much
are your assets wortb?n "Thev will be
m crs ,han that: we shall pay every dollar
now think" "Is there sny ruth in
the rumor that Seney unloaded Cleveland,
youngstown & Pittsburg bonds on
you? ""Not word of truth in it; President
Seney has nnloaded nothing on us at anv
tune" What has Neen the character of
your securitie.?" "Thev hevA bsen such
us would commend themselves co contervs-
tive Judgment; the greatest shrinksgc m
theifvalue Ess been ip some railroad bonds
upon whitA we made adval ces, Ceye.
lapd, youngstown and Pittsburg; those
and some Others" "How moch are your
deposits In the Metropolitan" "it wee
much l.rger than We could have @ishsd."
scpc,.sS o ss aoss a s0'" rs What .ssI ss
know TO morrow" ut IL understood
You have been offered $500 900 10 belp you
0ut?p "Yes, 8. b. Elkinn offered that,
but that would have been drop in
the bucket; we were offered several
hundred thousand dollars by CAB e. but
we must SEQ where We stand fret" An
attache Of the firm told reporter
that matters had gone 70 far the
resum ption would b- impossible. The
$200.OO0 of q. b. Elkins was made
in good faith and may lead to the r-es.Gb-
lishment of the concern under new name.
The members OF the firm are Missourians,
Robert w. Donnell, the head OF the concern.
was formerly merchant OF 81, Joseph,
where he owns large real estate interests,
and he ia a large stooknolder in The
Savings Bank there. He IL also
u partner In the banking firm Of Donnell,
Clark & Larabee, of Deer Lodge, Montana.
the second member OF which 10 n million
sire. Lawson and Dopneli married listers.
The former was q lawyer at Boonvlile, Mis-
souri,. Simpson lives in Orange, New JeIeey.
He and family resided In Kansas City. The
loans of the house were all passei oa by
him. Their banking house was besieged
all day with messengers and clerks copying
notices aud persona calling TO have sigma
lures idan flied.
The settlements of balances 20 the clear
Ing house to-day between tho associated |
banks was accom plished without trouble.
The Metropolitan bank received the issue !
OF abou, $1,000 600 loan certificates.
The Second National bank applied for
5000 eco The total amount issued to five |
banks is 81 600 COO
William A. Camp. msnager OF the olsar.
the Yltuation With regard to tho particu-
lars of the failure Of Fisk q Hatch
he said: II am certain 1t can In no way ef- |
feet the banks. This Is time Tor the
hanks to pursue a liberal policy, |
and not hesitate to advance money on good