The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1884-05-22

cry pers IN in line held one or MOI
checks to be certified, alarming rumOI
as to failures in every direction hay
ing made uncertified checks of n
g value. no matter by whom SlgneC
u Just at that moment the paying teile
smut his window and announced tn
Metropolitan bank suspended pay
ment as a matter of necessity an
precaution. A howl of dismay wen
up from the line of men, and breal
was made for the door where a mum
Der of depositors were met hurry
ing in to get denial OF Tn
rumored suspension. In les!
than five minutes the 1rol
doors were shut and police arrived Il
, stand guard on the steps, The hrs
story told the large depositors, WhC
arrived breathless and indignant, wa!
that the suspension Was ordered Dy
Seney in order to prevent Il run, fol
which the bank might not be prepared
1t was said by Mr.. Seney that II mat
tiers quieted down in the afternoon
the bank might open in time for some
business to be done today. This
promise was accepted by the group oil
depositors as of small comfort, and
after IL o'clock crowd of nearly one
hundred people gathered In front OF
the bank and beWailed the prospect VI
loss of deposits. Two women, Who
had drafts upon the bank, were in
tears upon the bottom steps.
Among the depositors who appear
ed to know anything about the sus-
| pension it was said the immediate
cause was a demand for more than
half million by the clearing house
to make good its account.
Railroad speculationS of President
Seney, it is generally supposed, are
4 the real cause Of his suspension. He
is president of the East Tennessee &
Virginia railroad, the stock Of which
is selling to-day at for common, and
8 for preferred; large blocks of this
stock was bought less than year
ago, it is supposed, for the account OF
Seney, at IL to II for common, and "a
for preferred: The stock has been
sinking ever since, notwithstanding
constant support from what is known
as the Seney syndicate. The Ohio
| Central is supposed to be another of
Seney's favorite stocks, upon which
large sums were lost in sustaining
/ the stock.
The first rumor of Seney's difficult
| ties came soon after the announce
ment of the failure Of Nelson, Robin
son 81 Co. Robinson is son-in-
law of Seney's and one of Seney'S
sons is a member of the firm OF Nell
son Robinson 81 Co. 1t is supposed
Seney would not have allowed the
firm to go under had he not been
badly crippled himself. At the Office
of Nelson Robinson Il Co., Mel
son Robinson said the failure
was occasiOned by calls for
money from all quarters, which
could not be Immediately met in
consequence of the general shrink
age of securities, the disturbed condi
ton of the times, and the circulation
of disquieting rtimors. He was una
BILE to furnish a statement of liabili-
ties and assets. Most of their loans
are well protected, if holders did not
lose their heads and want to get their
money in day.
NEW YORK, May 14.-Donnell,
Loudon 81 Sampson have announced a
suspension. They are large dealers in
county, water and city bonds, said to
haye had two millions with the sus-
pended Metropolitan bank. The firm
saws: Owing to the general panic pre-
yailing. we deem it best to suspend
until we can see where we stand.
At the second national bank many
exciting scenes are witnessed, but in
all cases payments are made as fast as
the teller could hand the money out.
At one time three hundred depos1torS
were in line. while Amos Emo, the
millionaire, stood by, smilingly assur-
ing all that they should receive every
cent of their dues.
At l 80 p. m. the excitement in Wall
street subsidized to a great ex-
tent, but the situation Is by
no means settled. The general
impression is, the end is not yet.
1t is stated that Secretary Folger was
invited to a meeting at the Clearing
house, and the result of their confer
ence is awaited with much interest.
Dexter, Morgan 81 Co.. received
word to-day from Philadelphia
house that they could have all the
money they wanted.
The rumors affecting several ma
tional banks continue flying about the
streets, but none are traced to relia-
BILE source.
PHILADELPHIA, May 14.-Pfomi-
nent bankers have emphatically ex-
pressed the opinion that the Philadel-
phia banks, which are notably con-
servatiVe, would in no wise be affected
by the trouble in New York.
NEW YORK, May Traditional
notifies posted on the METROPOLITAN
bank s,,>v; "The drafts of Holmes &
Son of 'Pttsburg, will be paid by the
Bank of An erica; the drafts of the
Flower Citv h snk, Rochester, and of
Marshall. Field 90 Co., of Chicago, by
the Bank of Comm cree; the drafts on
the Bank of Altica, Buffalo, by the
Hanover bank, of Wal Streel;
AT 2:30 p. m. Hotchkis.$ ~ Burnham
had just announced their suspension
at the stock exchange.
NEW YORK, May 14.-The -atlanIic
state bank, of Brooklyn, clio SEQ It's
doors this afternoon. This ba ok is
the Brooklyn correspondent Of the
Metropolitan, and has a capital OF
100000: surplus, 100000. President,
Geo. p. Puffer.
WALL STREET, ESQ P. NJ, May IA
The Clearing house association has
Just adjourned, after adopting the fol-
lowing:
Resolved, That in view of the pres
ent crisis, the banks of this association
unite for the purpose of sustaining
each other and the business commu-
nifty.
Resolved, That a committee of five
be appointed to receive from banks
and members of the association bills
receivable, or other securities to be
by said committee, who are
authorized therefor to issue to such
bank loan certificates, bear
ing interest at 6 per cent. per annum,
not in excess of % per cent. of the Sc
curities, or bills receivable or SO depos-
tied, except in case Of United States
bonds; and said certificates shall be
received in settlement of any balance
at the clearing house. The following
gentlemen comprise the committee:
F. d. Tappan, Geo. S. Coe, J.. d. Yer
milyea, Geo. E. Williams, w. A. Wall
and Z. II. Perkins.
WASHINGTON, May 14.-Comptroll-
er Cannon now says nothing more will
be given out by him concerning the
affairs Of the Marine national bank,
New York. He has not received
Bank Examiner Scriba's report. and
does not expect any. The secretary
of the treasury announces that the de-
partment is prepared to redeem the
bonds embraced in the 127th
call prior to their date of maturity,
June 20, 1884, with interest to date of
presentation. The condition of the