Daily Los Angeles herald., 1884-05-15
LATE TELEGRAMS.
SPECIAL TO THE HEi,ALU.I
Laying Corner STONE CeremOuIs
aud Odd fellow Celebration In
San EraueIsrO.

large number Of visitors from neighbOi
ing towns aLd cities are present. Tn
buildings are gaily decora ed with flag
floating from houses all over the city
Two hundred and niuety.four lodges ar
represented. The procession will be III,
most imposing Old Fellow demonstra
cession was an hour and fifteen n,inute
In passing a given point.
Puuctualiy ut the appointed time
ll;a5. this morning tho procession
started on its line OF march. Both sidei
Of tho streets, the windows. balconie.
and roofs ARE covered with spectators
Every lodge In the State has lepresen'
ta'iou in the procession. IL is estimated
that six thonsand are in parade. Arriy'
ing at the corner OF Seventh aud Mar.
ket streets, where the corner stone
ceremonies were performed the different
ttivisions took up u position around the
point Of interest. John Wright. arch.
itect, presented n jcweleJ trowel to
Grand Master w. W. Morrow with an
appropriate speech. Grand Master Nor
rows response In the acceptance OF the
trowel was cOnched In short but ex.
pressive Language.
stock Panic In New York.
NEw York, May 1.-the scene in
the stock exchange wa, one Of intense
excitement this morning. There was q
rush 10 sell stocks, partly by accident,
brokers were unable to meet their en-.
gagements before TO- 10. Nelson, Robin.
son 4 Co., aud Golf 4 Randall au.
nounced a suspension. Western Union
dropped 81 to Ola, Union Pacii "a to
43, Northern Pacific preferred "a 10 II,
Transcontinenial 4 to II. The stock
market Is very ragged. Failures have
stopped for moment, but the air IL
thick with rumors of further suspen.
si0ns. Few know precisely where they
stand and the situation is badly strained.
Crash In New York Hanks.
New YORK. May l4.-The National
Bank Examiner has announced the Sec
ond National Bank solvent. A. NJ, Bo-
gart h Co, bankers, have suspended.
Nelson, Robinson h Co. announce that
all active stocks carried by them were
sold yesterday and people who are car.
rying them IN loans need not be alarmed
rs they will show their books proving
money obtained for them safe. j. c.
Williams, broker. says he will announce
his suspension later II the day.
LATER--Hatch h Foote announce their
Suspension at the Stock Exchange.
Mere Of the Pantc-Action OF the
Cheering House.
New YORK, May lI.-A meeting of
the Clearing House was called for | 80
P. M. to-day to consider the financial
sit alton. The banks are crowded with
anxious depositors 1t ia impos ,ibe to
get near any one in authority.
Metropolitan ssauk Goes Down.
Secretary EOiRer Orders Pay.
nsnt OF Cali Bonds.
New York, May II. The Metropoli-
tan Bank has suspended. The doors
were closed by George l. Seney, who is
President. .. NJ. Bogart h Co. has as.
signed to John Wheeler. This preie, ence
amounts To $4,000.
Secretary Of the Treasury Folger is in
town and telegraphed to Washington
ordering the immediate payment of the
l27th call for bonds. IL necessary he
will order another call for eleven million.
The failure OF Hatch h Foote was pre-.
cipitated by the Phenix Bank refusing
to certify their checks.
Great Excitement The streets
Crowded with Mobs of People
wild Over the PanIc-MOb vio-
lence Feared.
NEW YORK, May IA. The excitement
is increasing. To the Custom House
both sidewalks aud carriage way are i'm.
plssable. At the doors of the suspended
houses masses Of humanity are denser
than Mt any time during the day Many
disconsolate faces gaze at the closed
doors. Among the crowd are seen
several well lldressed ladies', many Of
them are present from motives other
than curiosity. News of the disaster
seemed to spread with lightning rapid,
iiy. Private carriages with liveried ser
wants from uptown are flying through
the streets. Many now stand outside
the doors of banks aud banking houses.
The directors of nearly all the
banks are either in session or
present in the building ready Tor any
emergency. The doors OF the Stock Ex-
change are guarded by policemen. The
galleries have been cleared and none are
admitted to the building except mem
bers, clerks and messengers, because the
crowd endeavoring to gain admittance is
too large for the capacity OF the build
ing.
1890 P. MA sensati ional rumor af-
fecting the solvency Of several banks
was ahoat, but an investigation proved
them false except the single instance OF
the Metropolitan. The oil exchange
was caught by all infection OF the panic,
when prices dropped ten points.
Secretary Folger says the break
is due to resklessness of speculation.
He will do everything in his power to
prevent stringency. He said there
was plenty of money in the country.
He said, II do not anticipate any exten.
sive panic. The situation is not as weak
as people suppose. / shall do every.
thing in my power to restore CONT
dence." A telegram from Twenty
Third street reports three lines of de.
positors on their way to the bank.
EHeets of the Crash on the Grain
Market
CHICAGO, May l4.-The session thus
far on Change to-day has been tumultu
ous. The depression on Wall Street had
its visible reflection here and an accom-
panying downward tendency in stock
was the result. A gre at decline in prices
occurred in The grain markets.
lnnoeeut FRED Soured on Fish
and ward.
New YORK, May l4-Col. Fred Grant,
in an interview to-day with a reporter,
said: "When first came to this city
from Chicago | had about $4,000. j
was introduced to Mr. Ward, and ait r
short acquaintance he asked me TO Join
him in a speculative venture, which
turned out successfully. After that he
proposed a partnership, and eventually
my brother aud my self entered into a
partnership agreement 1t was repre-
sented that Ward aud Fish were worth
$3.50, 600 each. Ward had charge Of the
books and safe of the firm, and in fact
everything was entrusted to him and
other members of the firm" Col. Gran,
closed with the remark: IL admit hav,
been fool, SO has my father, the Gen
eral, and my brother, and there is moth
aug WV suo Z" say asaihSt W H'u "a
this moment"
Disc rim inatton in Life Insurance
Prohibited.
BosTos, Map 1.-THE Governor hai
signed bill to prevent life iusuranc,
companies discriminating against coloret
people.
Combination OF Tobacco Growers
SpRIsGFIELD, Mass, May 4-Th'
officers of the New England Tsbaoc,
Grower Association have inaugurated 1
movement to secure the repeal OF al
internal revenue taxes on tobacco grow
ers and packers, aud appeal to the trade
throughout the country to unite IN it
favor. Assurances OF cooperation iron