New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-20

ware st;Il dishonored YESTERDAY. Ii said that
NJ, seney had drawn more heavily from the bank
than il coald bear aud that unless funds conid De
raised upon its securities In siior; Time the ue-
postors could not be paid in full. President Puher
refused 70 confirm or deny this report. He said he
thought when the examiners got through thelr
work in the bank on Friday they were satisfied
that il was sound and would permit its resumption
But they were still engaged i'll examining certain
securities. ...,.-o
The loans and discounts of the bank at It's last re-
port amounted 10 81 ,06S, C63 y, and Inc ahlounI
due TO deposItors was 1887, $50 OF. The capital
stock is $500. 900, and a surplus OF aiOO,ooU was
reported Cashier Denton said that the BANK hsio
money enough TO pay all the deposilors III tI tbe
they wanted TO resume business, and show that the
bank had not been engaged III any fancy spccu'a-
ticBs.
RUSSELL SAGE'S PhILOSOPHIC VIEWS
TnE TeoUULr ABOUT HIS PIIVlIEGFs-CoNFiDENCL
RrsTORED-TBE OUTLOOK HOPEFUL
There were still signs at the Office of Russell
Gage No II Broadway yesterday of the recent siege 10
which he has been subjected. policeman gnaIued the
door and the clerks inside loat TO disturb Mr. Sage III
hi. work But the of the recent contest was over MI
Sage has redeemed mos OF his PRIVILEGES and the puts
that a,e still outstanding small in amount and al
figures which far above the stock market as 10
lead to flooding OF the contracts on short NOTICE re"
persons visited office yesterday in comparison TO me
Numbers Of the howng owds that went there last week.
and the bluccoaed guardian Of the peace grunoed Dc
rausr the excitement had died away. The story that MI
sase would lie overwhelmed with puts" OF United
Pine Limo certificates at prices iaI aDO'e
the present market price has no foanda lion Mt sage
hra- elf said that he had not over loOcO barrels out
s,andjoe ga privileges He never did much in the on
speculation except for little flyer JAY Goud ssld
yesterday Mr. sage is all right Money Is easier
and good many investors buying stocks ilus FetN
Ing the market surplus Mr.. sage VIII maze money
out of the stock that has been put 70 him..
Seated in his office before table filtered with letters
kilograms and checks. by window that ovelooSs the
graveyard Of Trinity Church. Mt. Sage was found by
YsrRNf renoter In the afternoon He looked Ike we'll
TODD country farmer who had inst dropped mo the
city TO Wall Street elephant on the rampage
HIS face the look OF placidy not unlike that some
times given to Washington but occasionally Wrinkle
OF reflection half closed his eyes giving them t"Ae OF
shrswdncss which lifted him from the plane Of the far
urr ana lowered him that of the Father OF MS
Country his position There was nothing "A@t
ever IN s appearance indicate that he had Jast passed
Though The ordeal OF last wec, land had Transferred NIL
tons OF dollars from his account to those OF me
nnneic,s holders Of his privileges lie ars' ana Win
n pleasant smile extended his hand saying:
PIn glad 10 see a reporter from Tue TRIBUNE DO
tiouing 10 a seatl think we've seen
tue worst OF the panic Signing note'l
am just sending dispatch 10
een,eluau ia Iowa telling him and that we shli see
Gov ana sure Improvement both in values and il case
IA the neaoy market. Yes. an occurrence sth ss
sT md , m the street. Il virtually brought in Two
dsys what was p o to run psIl9l o. ron Tnf ~
the contracts at any time e,,. On have one 6 %%
an lust lnce in which more onch of the privileges
olt called or put except 81 tle 9ay on Hic q
the holder az well Of the issuer of the contract IL al
It should be sort OF insurance and iAedeloe dnS
I.snv times. But ny the failure of Grant q ward loi
lowed by the suspension o. the Marine ana tne
thai Inc holders OF puts and calls treated them rs
belg Gue in two days, aud more tnan nine OF lI
The othe, tenth are Of later date and low figures, and
nir not likely be presented now Never has there ee
a ,S AZ nsidy Of t s1' Oldest Oldest haant @
lever heard Of it best 20 st'te now n
have paid out II Is private mater u0h IN 'I IT,
should be spread before the public They've all oeeh
AZ thi. point Mr. Sage interrupted by tue entrance
OF gentleman whose face was DeamnS WIN drnsn a. a.
Won $1,000 up so. 40 the reporter:l Oh. no.
dout put my name 10 The TMBuSA. blt
wa T,s, SoTs"thats what il Isl After exchanging
few words with Mr.. Sage the gentleman wthdfe" ana
simply explaining 70 this rsnd about Itls
sopFant that was %@de on THIS pSyic.
ois5 ,s sss r %s ' gang s nnt
st ,rCTad ihe e" door of my Office thai day
were from Baltimore. They were a LOT OF men on the
make They were trying 10 put their hands in somebody
eises pocket in the crowd probably They were harG
looking se;-that part OF the crowd IAry were n.y.
should have been glad 10 have had time TO see There
~ another thing IL was said that | omitted
- ny wsuted to take advantage OF the Oh or
money. beg that there Is not WORD OF run
raiss taoHey 10 nay oil my liabilities did Others ia
doug which did TO the fullest extent. Livery fair-
..TheT said on "wednesday that did not let
then in s' as psvea nose the d5y SDe Of
largo amount OF stock 70 be pat thS day, ana CON
thing 10 have those allowed to make their
flefp Y,
at a time when the BANKS were paralyLed
an, sna ty night protect themselves in the crisis hs
consumed considerable time account CT the ma 2'uce
oeiSiSe securities requiring proper examination In
order 10 avoid errors especially IN deng WIN tucn an
ell Known 10 need to he repeated But this is all
past Quiet rcisns, confidence 10 beng resioreu anu
people arr cheerful and hopeful OF an cary adjust
menf OF the eabaTTsslnents arising fr0m tAls uheA
anplod panic regard IL virtually at an END now a.
t ne ,s .hok tSns suddenly thrown upon The
stocks which had given privileges were the ae'Ve
Have You been putting out fresh privileges todayl'
Oh Do luis is no time for that But the market is
recovering and confidence Is restored
-
SOME CABLE CORRESPONDENTS.
The following cable correspondence has
passed between J. 5. Morgan and Cyrus W. Field
MORGAN, London: Many OF our business men seem 10
have lost their heads and think there no real value IN
now seeD the worst Of the panic and good securities that
are actually earning and paying regular dividends Will
sIeady advaDCe ia price from this time. What want
Is some clearheaded strong man 10 lead f you should
form a syndicate IA London 10 buy through DreAeb
Morgan Co now good securities Ia TINS market be-
ueye YOU would make great deal Of money ana al Tic
time entirely change the feeling here baVe p1I-
chased moro stocks the few days tdan IN months
before. f'H%D'
Friday, May 10.
FIELD ger YorE The difficulty, seems 10 me arises
from men having thtlT heads some une since
tho ntIA