The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1884-05-22
NEWS CONDENSED.


isaac ~. Eureul, u new lOTh Cutul-
ist. living apart from his wife, visited her,
and when she refused 10 again live with him,
shot her fatally. He next shot dead his little
son, years old and rushed from the house.
After running short distance, Replaced the
pistol to his head and blew out his brains.
Walter Bradshaw shot his father at
Boston during dispute between them.
The Southern Pennsylvania tunnel
under the Alieghenies Mt Dexter's Gap caved
in, killing two workmen instantly, and NOR.
tally wounding Superintendent White and
three others.
The widest excitement New York
has known since the Jay Cooke failure in
September, 1878, prevailed in Wall street on
Wednesday, the 14th inst. Thousands of
brokers and bankers were at their Offices two
hours earlier than usual, and Immediately
upon the opening of the Stock Exchange
great uneasiness became manifest. The
galleries and the floor were packed. and
before business had fairly started some
one yelled cut: 1.-THE Second National
and the Metropolitan have gone up" The
scene that followed beggars ali description.
Pandemonium reigned. and roar after roar
from excited men put a stop to trading.
Messenger boys dashed hither and thither,
calling cut in shrll excited tones names
familiar in financial circles, adding to the
wild scene. At an early hour the failure of
j. c. Williams was announced. and in the
next breath came the failure of the old
house OF o. II. Bogart Again and again
the surging crowd yelled, and were an
swered by excited thousands in Broad and
Wall streets and Exchange place. Fail.
ure after failure was announced
In rapid succession, each collapse causing "A
fresh renewal OF the excitement The cul-
mination was reached, however. when the
vast exchange received proclamation Of the
ruin of Hatch & Foote, the greatest broker
age house on the street. The crowd seemed
distress shook the building. They knew that
a great panic had struck the street, and
looked at each other in helpless amazement.
Secretary Folger ia 6t the Treasury build
Ing and will help MS" rang ont clear
strong, steady voice close to the Chairman's
desk. and Immediately deafening cheers rang
ont through the building and were taken up
and repeated upon the street Many leading
members rushed over TO the Treasury build
ing, found Judge Folger seated on the railing
about washington's statute, and received
from him assurances that the Government
would do everything in its power to help the
street. This good news was carried back to
the Exchange and produced n marked
effect. Comparative quiet was restored, and
operators began TO look about and calculate
the damage produced by the financial cyclone.
II was found that two national banks, with a
capital of $1,000, 900 and 81, o0J, 0o0 respec-
lively, and eight OF the largest brokerage
firms in the city had collapsed; that stocks
had declined as they were never known TO
deoline before. and that the prices of produce
had also greatly shrunk.
An improved feeling was noted at the
opening Of the New York Stock Exchange on
the 18th inst, until the failure of A.w. Dimock
& Co.-thc senior member of the firm is Pres
ident Of the Bankers and Merchants Tele-
graph Company-was announced. The secu-
rites grew weaker, and again rallied when
the Metropolitan National Bank resumed. At
the latter bank, as well as ut the Second
National many deposits were withdrawn,
but the money was promptly paid. About
fifteon minutes before the close of business
tho failure of Fisk g. Hatch was announced,
causing q sensation, az Mr.. Hatch
is President of the Stock Exchange.
Then prices tumbled, and the mar
kct closed in chaotic condition.
No serious disturbances were reported
throughout the country, the feeling prevail
ing that the storm could be wcathered. In
London and other European trade ccnters
there was some excitement, and fall in
values of American securities was noticed.
George j. Seney resigned the Presidency
of the New York Metropolitan Bank, and
Henry L. Jacques was chosen for the
position.
In the Stock Exchange on the 10th
INST values opened lower and unsettled, but
before the arst call a steader feeling mani
Tested Itself, an advance of l to ga per cent
being noted. Then the failure of III. C.
Hardy Sons was announced, when values
again sagged of, and the list dropped still
further when it became known that the
Newark Savings Institution had closed its
doors. After this, confidence began 10 return.
there Icing heavy purchases of stocks for
OF further failures resulted in a feverish
feeling. which passed away rapidly when no
disasters occurred, and the market closed in
"whirl of buoyancy" unknown for a long
time. Call loans dropped from 1h per cent.
per diem to to per cent per annum, and
largo amounts of money were received from
tho country. The feeling OF confidence was
enhanced by the Bank OF New York loaniug
SO. o0o, 900 On Government bonds, and by the
issuance of 100000 certificates by the
Clearing House. Closing deals indicated an
advance of to points in active shares, and
tho feeling was that the crisis had been
passed and that the market would soon re-
turn TO it's normal condition.
= The funeral of Charles O'Connor
took place at the Roman Catholic Cathedral
m New York. Among those present were
ex-senator Roscoe Conkling, ex-senator Ker-
nan, the Rev. DIR. Morgan Dix, Mgr. Capel,
Roman Catholic Bishops McQuade OF Roches-
Ter On. W. Hendrickson of Rhode Island,
MoInerney of Albany, and wigger of New
Jersey, ex-hayor Grace, ex-secretary Evarts,
Roswell p. Flower, and ex-Secretary Bristow.