Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1884-05-15

floor of the Exchange all is confusion,
though there is little or no business done.
Sales on account are s~uspendend, and firms
make a show Of business. The situation Is
decidedly panicky. Further failures are
looked for. Distrust is the most
imminent feature, and the banks are
carefully scrutinizing their The
Phenix Bank refused to certify the checks
Of Hatch & Foote, and this was the imme-
diate cause of the suspension. Secretary
Folger has been at the Sub-Treasury all
the morning, and was visited by almost all
the prominent fnanciers of Wall street.
He expressed q determination to use all
the power Of the Government to prevent q
panic, and will act promptly to the utmost
limit of his authority. At 1915 Wall
street was q mass Of people from Trinity
Church, demanding money at the Second
National Bank. 1t is feared that the bank
will stop. At the Phenix Bank everything
is quiet. The officers say there is not the
slightest trouble and nc In. President
Baldwin, of the National Bank, says his
bank is all right. Hatch & Foote state
that their suspension was not caused by the
refusal OF the Phenix Bank to certify their
checks, but was caused, wholly, by the ex-
haustion OF margins, and the refusal of
W - shCWt a6o thOAA Ahd-
bility to sell stocks without undue sacri-
fee. In the statement issued by the
Clearing House April "a, the last issued,
the full condition Of the Metropolitan
Bank was as follows: Capital, So, 000, 900;
net profits. ST., 49s. 600; circulation, ST.
304, 900; due banks. SIS, S15, 900; due de-
positors, $3,192, 5000; unpaid dividends,
$500. Total, 4,814, 900; certified
checka. S755. 200.
The following notices are posted on the
Metropolitan Bank doors: Checks drawn
BY the Maverick Bank Of Boston, on the
Metropolitan Bank, may be presented to
the First National Bank for payment. All
drafts drawn by the First National Bank
of Utica, on the Metropolitan Bank, may
be presented to the First National Bank for
payment.
NEW YORK, May 1.-THE Post says: At
20 minutes after IL o'clock q long line Of
men and boys stood in front Of the paying
t%eller's window in the Metropolitan Bank,
at Broadway and Pine streets, of which
George /. Seney ia President. Every per-
son in the line held one or more checks to
be certified. The alarming rumors as to
failures in every direction made un-
certified checks of no value, no matter by
whom signed. Just at that moment the
paying teller shut the window Of the
bank. and announced that the M%etropoli-
tan Bank had suspended payment as a
matter Of necessity and precaution. A
howl OF dismay went up from the line OF
men, and q break was made for the door,
where . number OF depositors we're met,
hurrying in to get q denial Of the ru-
mored suspension. In less than five min
utes the iron doors were shut, and 8 po-
liceman detailed to stand guard on the
stairs. The first story told to large depos-
itors, who arrived breathless and indig-
nant, was, that b suspension was ordered
by Seney, in order to prevent a run, for
which the bank might not be prepared. 1t
was said by Seney that If matters quoted
this afternoon the bank might open in
time for some business to be done to-day.
This promise was accepted by q group OF
.depositors as of small comfort, and after
IL o'clock a crowd Of nearly 100 persons
gathered in front OF the bank and bewailed
the prospective losses Of their deposits.
At the Office Of Nelson Robinson q Co.,
Nelson Robinson said the failure was occa-
stoned by calls for money from all quar-
ters, which could not be Immediately met;
by the general shrinkage in securities; the
disturbed condition of the times, and the
CtLNui1tAnh Va oAo4ukCttA6 49, 1O
would be unable to furnish a statement Of
liabilities and assets. Most Of their loans
were well protected, if the holders did not
lose their heads and want to get their
money in a day.
Boston, May 14.-The Bank of Boston,
acting as correspondent, has suspended.
The Metropolitan Bank Of New York was
visited with q view Of ascertaining the
amount of balance between them and the
Metropolitan Bank. In each case the
officers stated the balance TO be small and
in nowise. affected.
Donnell, Lawson Il Simpson have an
nounced their suspension. They are large
dealers in county, water and city bonds.
1t is said they have So, 000, 900 with the
suspended Metropolitan Bank firm. They
say: lowing to the general panic pre-
vailing, we believe it is best to suspend
until we can see where we stand"
The Supreme Court to-day granted an
injunction in favor Of the Buffalo, New
York & Philadelphia Railway, restraining
U. s. Grant and others from disposing OF
bonds of the Railroad Company.
WALL STREET, May 14.-At 1:30 the ex-
element had subsidized to o great extent.
Better feeling prevailed, but the situation
is by 40 means settled. The general i'm
preston ia that the end is not yet. The
largest dealer in privileges on the street
was obliged to receive zoo, 900 shares on
"puts." This large block must have called
for a heavy drawing even on his immense
resources. It is stated that Secretary
Folger was invited to the meeting at the
clearing house, and the result Of their
conference Is awaited with much interest.
Drexel, Morgan q Go. received word from
q Philadelphia house that they have all
the money wanted. The Board Of Mana
gers Of the Stock Exchange posted an
official notice for the Exchange not to
close until the usual hour. Rumors affect
ing several national banks continue flying
about the streets. but none are traced TO q
reliable source.
2:10 P. M.-As the settling hour ap-
prosches, the rush Of boys delivering
stocks adds to the excitement. The dis
trict telegraph boys, clerks and attaches of
the brokers' offices have all been brought
into requisition, and the scene on the
street is one Of intense activity.
$50 P. M.-Hotchkiss q Burnsame have
just announced their suspension in the
Stock Exchange.
The Atlantic State Bank of Brooklyn,
closed its doors this afternoon. This Bank
is the Brooklyn correspondent OF the Met
rooot;kau pank NTH q ooD;tat 80 ca 0nn