Bismarck tribune. [volume] (Bismarck, D.T. [N.D.]) 1878-1884, 1884-05-16
The Day on Wall Street Less Exciting
i and Only One More Failure
. Reported. '.'.:=z
The Metropolitan Bank Resumes Pay.
.ment and Others Will Resume
~ To-Day or Tomorrow.
What Gould Says of the Situation
Failure at Quincy and Excitement
At Kansas City.
MORE FAILURES.

MORE FAILURES.
New YORK, May 15-Dimick & Co., of the
United bank, suspended this morning. Dim
ick is president of the Bankers and Merchants
telegraph company. He says the trouble is
tiles. All customer accounts have been profit
able. Geo. Putnam Smith was appointed
assignee. Preferences to customer.
THE METROPOLITAN BANK
Resumed paying all depositors presenting
checks. Even before the hour named for re-
sumption the paying teller opened the window,
and the first man in line received his money.
At noon a number were in line, but not over
twenty-five, principally boys and clerks.
FAILURE AT QUINCY.
QUINCY, ILL.,, May 15.-The Union bank of
this city failed to open it's doors this morning.
When the Marine of New York failed, the Union
bank transferred its accounts to the Metropoli-
tan, and the closing of the doors of that bank
yesterday is given as the cause of the suspen-
sion.
A BETTER SHOWING.
New YORK, May 15.-keceiver Davies reports
able to ascertain, at $l4,501 531. Collaterals
are held by creditors for between 100000
and $12 GOO ,000 leaving an unsecured indebted
ness of $2,O00,0O or 100000
BOSTON FAILURE.
A dispatch from Boston reports the suspen-
sion of F, A. Hamley & Co., q firm which, al
though not heavy, dealers regarded 90 in good
standing. Hotchkiss & Burnham are balancing
their accounts and expect to resume tomorrow
FAILURE OF FISK & HATCH.
New YORK, May 15.-Henry L Jaques was
elected president of the Metropolitan bank in
the place of Geo. Seney, resigned. Fisk Il
Hatch have suspended. The firm of Fisk &
Hatch was camposed of A. 8. Hatch and Harvey
Fisk. Hatch was recently elected president of
the stock exchange firm and have been the
heaviest dealers in governments on the street,
and considered a staunch, conservative. reliable
firm. They have sons and sons-in-law in the
stock business. the announcement of the sus-
pension came like thunderbolt on the ex-
change. Hatch has been prominent in religious
matters, philanthropical measures, and fire.,
quently heard of as q lecturer on religious SUBJ
jects. Fisk has just returned from tour of
Europe. The immediate result of the failure on
the stock exchange was a decline of one to five
points. The weakness in government bonds is
explained by the suspension of this firm.
TALK WITH GOULD:
New YORK. May 15-The Metropolitan bank
resumed business at noon today. Jay Gould
stated today:
This disturbance is q senseless thing; it comes
from = fear of each other by both banks and
brokers, think, rather than anything else.
The general calling of loans is wholly unneces-
sary and foolish. I suppose the banks are
little more cautious than usual on account of
the loss accidentally suffered by the First Ma
tional last week, but think the worst is over.
The people will regain their senses and then
there will be orders here from all over the
country from persons eager to pick up bar
gains. The condition of the banks il excellent.
Every one will see there can be no panic while
the banks stand together. I am sure all the
excitement is at an end. never expected to
zee Western Union sell below fifty, however.
The company is certainly earning its dividends,
and the trouble only adds to its business. I
should suppose some brokers might have real
lzed that fact.
AT ST. JOSEPH.
ST.. JOSEPH. Mo-, 16.-A better feeling pre-
vailed here during today, it is generally be-
leived the worst of the panic is over. The banks
opened their doors little earlier than usual
this morning and have met the demand of all
depositon besides doing the usual discount bus
iness. There Was no peroeptible run on any of
banks. The bankers and business men are
unanimous in the opinion that the State Sav-
ings bank wa in good condition and would not
have failed had it not been dragged down by
its intimate New York connection. It il conf
IDENTIFY believed it will pay dollar for dollar.
SENSIBLE SECRETARY.
WASHINGTON, May l6-Secretary Folger was
at the treasury department today. He received
several private kilograms, giving cheering aaur-
anoes of the improved state Of affairs in New
York and expressing confidence that the worst Is
over. Bank Examiner Serbia believes the crisis
pest. The secretary of tho treasury tele-
graphed the assistant secretary Is follows:
From this date to June LIT you are authorized
to pay bonds embraced in tho 126th. 126th and
18th calls, with accrued interest," subject to the
decision Of tho department g to the regularity
of assignment, expresage 70 tho department to
be paid - heretofore by the party having the
bonds redeemed. Signed
OHAs. J. Fo1asR.
Washington.
WASHINGTON, May 15.-In the senate reso-
luton was offered directing the finance COM
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