The Portland daily press., 1884-05-16
Failures ia Boston.

Boston, May 15.-F A Hawley & Co., who have
been doing banking and brokerage business. sus-
pended this morning. They cannot give any state
ment of their Liabilities, but they said that their
suspension is due to desire to ascertain just where
they stood. They had been doing business a bank
of deposit, but the amount due depositors is not
known. They expressed hope OF resuming bust
ness, but this was not considered probable. The
house has been rated at about 100000. A later
despatch states that the deposit account of Hawley
& Co., at the time of the suspension, amounted to
$350,000, and their total liabilities were $780, 00
There were rumors that the concern had been spec
ulating, but nothing authentic is known.
Hill q Stanwood. brokers, failed today for
$4,000. The suspension is not regarded as signi-
can't
H. R. wandell has been appointed assignee of all
the property, accounts and business of F. A. Haw-
ley q Co., without preferences.
MIR. Hawley ia an interview this afternoon, ac-
knowledged that his failure is very bad one in that
almost everything is gone and that resumption is
impossible. The affairs of the firm, he says, are
somewhat mixed. 1t will require several days be-
fore any statement of a definite character can be
obtained His liabilities, no believes will not ex-
coed S150,000. 1t is learned from reliable outside
sources that the firm has lost heavily in the Viii
dealing heavily in Mexican Central, Union Pacific
and Aitchison. Yesterday some of their customers
defaulted their margins, and this, with heavy run
on their deposits led to the failure which not only
affects stock operators and spectators, but will
reach many people of small means all over New
England who have deposited with them.
of Bancroft q Dyer, furniture dealers, were shown
to be $40, 900; assets, $50 900. An assignment
has been made for the benefit of creditors.
The feeling in financial circles here today is not
very different from that of Wednesday. Cons der-
able stock was thrown On the market, but that
again. The two failures announced Of +. A. Haw.
ley Il Co., and Miles, Stanwood Co., affected Bos-
ton men very little and there was a general seren-
ity in the banks and brokers' Offices and no one
seemed to doubt that the banks would weather
the storm unless it became much worse without in
convenience There was little uneasiness here
and there and there were hints of broker firms
which were rather weak. The notable feature ID
the freedom of Boston concerns from any entan-
clement with the failing firms in New York.
Bus Little Excitement at Concord, N. HI.
CONCORD, n. H., May 15.-Thc financial dis
turbances in New York caused but little excitement
in this city. To day the intelligence that the worst
had been experienced caused much relief 10 many
private individuals who hold considerable amount
of stock especially that of the Union Pacific. Ono
speculator lost $4,000 by investment in these
securities and others would lose heavily should
they sell out at present. The only effect of the
panic here thus far has been to circulation
an unfounded rumor that two business houses had
suspended.
No Trouble in Norwich, Conn.
NORWICH, Conn.,, May 15.-No trouble whatever
was caused here by to-day's developments in the
New York banks. Ali are perfectly sound.
No Apprehension of Trouble i'm Provi.
dcnce, III. Il.
PROVIDENCE, r. L. May l5.-Financial condf
ton OF business IN GnlS city Is SOunQ and appre
tensions of trouble are felt.
The suspended firm of Fisk & Hatch, was tn,
agent of the Aquidnick National Bank of Newport
but it is stated that the balance on hand Is YER,
small. Some private citizens known to be very
heavy depostors 1t is stated that onetenth of the
capital of the Metropolitan bank is held in Newport
The Situation i'm PhiladeIphia.
PHILADELPHIA, May 15.-Business opened this
morning on Third street with q decidedly better
feeling. Philadelphia stocks all took an upward
turn on the strength of the announcement that the
Metropolitan Bank would resume at noon. Read
ing opened at 1914 and is now 171S; Pennsylva-
mia at 80, advancing to 5514; Northern Pacific
common, which closed last night at 1914, opened
at 20A while the preferred opened at AZ and is
now Ala, an advance of 21s since yesterdays
closing.
A Bradford, PA, Bank Closes gts Doors.
BRADFORD, Pa, May 15.-The Tuna Valley Bank
did not open its doors this morning. 1t was the
correspondent of the Metropolitan Bank of New
York, and the announcement was made that on
account of the suspension of that bank it was
thought best to suspend temporarily. A promise
has been made to depositors that they will be paid
II n full.
Relief for the Monetary siriugsucy.
WASHINGTON, May 15.-New York influences
are at work here this morning to endeavor to induce
the House to pass either the Dngley or the Miller
BILL The Miller bill is practically the same as the
Dingey bill, with the advantage that it is before
the ways and means committee, and if that com
mittee should be disposed to favoraby act upon 1t
1t could be brought up before the House, under the
authority to report at any time. The action Of the
wrys and meaus committee upon this bill, as we'll
as the effort to take the Dingley bill from the caen-
dar and pass it, is awaited with much interest.
The Miller and DingIey Bills.
At the meeting of the ways and means committee
this morning. quorum was present, and therefore
no attempt was made co agree upon the Miller BILL
The members of the banking and currency COM
mittee decided that it would be useless to attempt
to pass the Dingley bill today. There will be 1
meeting of the committee next Monday to decide
upon the best course to pursue to secure consdera
ton of that measure until which time nothing can
be done.
The Feeling in III. LOuis, MO.
ST. LOUIS, May 15.-Considerable attention has
been attracted to Donnell Lawson & Simpson. The
firm has intimate relations with and is correspon-
dent OF nearly hundred banks In Missouri sixty
in Kansas thirty or forty in Texas and has nuMer-