The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1884-05-15


BOSTON, May 14.-The feeling in Boston was one
of security, for the time being at least, and of
congratulation that Boston banks and bankers suf-
fered SO little. There was little furry in the
forenoon but as the day advanced and no failures
were announced here and those in New York came
to be better understood the effects of the first
shock were somewhat dissipated. Leading bankers
united in expressing the opinion that nothing that
had happened yet in New York would affect the
standing of any Boston bank or broker. They said
that the Boston banks very strong and that of
late they have not been carrying large balances in
New York. They have been pursuing very con
sentative course lately in view of possible crash.
The condition of the brokers be less easily
certained but il is thought that they, too, have
been acting with considerable caution of late.
Checks were refused on State street until an exam
ination had been made to satisfy the broker that
the money the check represented actually
deposit As to the future some were quite conf
dent and all tried to be hopeful. If there were
further failures in New York there would be 10
trouble here nearly every said, but if failures
continued in large numbers, the ultimate result
could not be foreseen. There was no reason to an
ticipate any collapse in Boston, but panic once
inaugurated was like the tumblng down Of pile of
bricks. Some few seemed little apprehensive of
general panic though they disiked to express such
an opinion. The New York failures were discussed
quite freely among the brokers and bankers, but
there was little appearance of excitement any
where or of great interest the part of the gen.
eral public.
State of the Philadelphia Market.
PHILADELPHIA Pa, May 14.-There was drop
in prices this morning. solely due to sympathy with
the Wall street market One failure was announced,
that OF G. W. Bayard, small operator, whose hold
ings were sold out under rule. 1t is not believed
that his liabilities will exceed $4,000.
OIL Trade in Pittsburg Demeralized.
PITTsBURG, Pa, May lathe report of heavy
failures in New York has completely demoralized
the oil trade in this city, and intense excitement
prevails.
The Chicago Market Steady.
CHICAGO, May 14.-In the face of the news from
New York the markets after an early decline have
shown great steadiness.
Springfield, Mass, Not Affected.
SPRINGFIELD, Mass, May 14.-The tumble in
Union Pacific stock is the chief cause for anxiety
here nearly 81 100000 of the stock being held in
this city. and as much more in Northampton and
S other neighboring places The banks have very
little of the stock as collateral.
Condition of the London Markets.
LONDON, Eng, May 14.-There was one small
failure upon the Stock Exchange to-day. The
panic in New York caused much excitement on the
street. After the Exchange closed Louisville and
Nashville securities had fallen nine points and OF her
leading American railroad stocks had fallen from
two to five points.
Failures Reported in Come cficut.
Bridgeport, Conn.,, May lathe banking
house of 7. L. Watson & Co. of this city was COM
PEELED to suspend payment at O'Clock this AFTER
noon owing as was announced to the inability of
the Connecticut National Bank with whom they
keep a deposit to honor heir drafts account of
the condition of affairs in New York,
Suspensions Ina Buffalo.
BUFFALO, May 14.-Hilton 81 Waugh, oil brokers
Sc, Of
the banks in this city will be affected by the sus-
pension of the banks in New York city.