Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1884-05-15

lA.c0: due depositors q 1eo, 300. IN.
paid dividend $500 900; totsI, 4I4 sf5.
800 certified checks. $4,000.
Ins foilo1ine notices ars posted or
tue Metropolitan Bank door: g check,
drawn BY the Maverick B4nk. of B -
ton, on the Metropolitan Bank NAV b.
presented to the Frs; National for nav
ment- All drafts drawn by toe FRS
National Bank, of Utica, on the Metro
poiitan Bank may BE presented 70 ID.
First National for payment
2:lO p. m.-As the settling hour an
proaehes the rush of bows deliverins
stocks adds TO the excitement. DIstric1
telegraph boys, clerks and attaches OF
brokers sftices are ali brought int
requlsition, AID the So ne on the stre-,
Is one of intense activity,
DossKLL, LAWSON d SIMPSON.
Donnell, Lawson q Simpson have An
noGncsd suspension. They are lare.
deaiers IN county. water and CITY bonds
and are said TO have 100000 vita the
suspended metropolitan bank. Ibs
nrm say. "Oxing To- the general p.nir
| prevailing, we believe II be-t TO suspend
untIi We can see where xe stand
Addition Il IA ,tIeas posted on toe Net
ropplltan Bank say that the drafts of
H-imes d Sun. of FIttsburQ, will b.
nlled oy the Bank Of Amerlca. the drafts
Of the fisur City B ank, sf Rochester. Alri
harshaiifisid Co., of ChleAzl. by the
Bank OF Commerce. drafts of the banks
OF Utica and Bun aio by the Hanover
Bank.
20 p. NAT the Clearing House the
bank presidents are In session. and il is
stated on tue best authority that the
banks Viii stan. by eacn other, a. thew
did in 1873.
when the gong of the Stock Erch spo-
sounded one OF the most exciting DAYS
IN the history OF that institution closed.
IL Is reported that Drexel. Morgan A
Co. had Sl.oe0 600 ia the Metropolitan
Bank. memb OF the firm denied
this, saving that the Withdrawal of their
large account from tn 81 b INK took place
years ago. Anothe. report was that the
Atlantic Mutu Il In4ucancs Company
deposited 81 10000 In the Pnosnix Ma
tionai Bank this morxing.
ACTION or THE oLRARIsa HOUSE Asso
CITATION,
WALL STREET. May Ia, 2:5O p.m.-The
Clearing House Association has Just ad
"Reso'sed. TIL IT Ia view of the present
crisis tho banks of this Association. for
the purpose of sustaining each other
and the business of the cbmmunity, re-
solve tn Il committee of five he ap-
poi 1ted to receive from the banks which
are members of the Association bills re-
csivabie or securities to BE- approved by
said committee. who are authorized TO
issue therefor - s7ch deposr!in9 banks
certificates bearing interest at 8 per cent
per aunum. not in excess of a. per cent
of the securities or bills receivable so de-
posted, except in case of United States
b pnds. aud said certificates shall be RS
ceiyed in settlement of balances at the
Clearing House"
The following gen .leman compose the
committee: T. ID. Tuppan, Gsorse \.
Coe, J. II. Vermilve, Geo. W. Williams.
w. A. Wall and Ed. Perkins, Jr.
HoTcBKIss d BURsHAM.
Hotchkiss 4 Buruham have just an
nounced their suspension at the Srock
Exchange.
CONDITION. or THE METROPOLITAN.
2:20 p. m.--A representative of the
Associated Press has Just interviewed
prominent director of the Metropolitan
Bank. who says emphatically that the
depositors will be paid in full. The di-
rectors have gone through all the secor
tiles. and, thro wing out all classed as
doubtful, have more than sufficient to
pay the depositors. The suspension ia
solely due To tie fact that the depositors
throughout the country have become
scar, d through attacks on the Prssid sut
al - u
urated q general withdrawal of their
deposits That fact, coupled with the
general distrRst engendered from the
critical situation in speculative circles,
caused the bank to suspend Ii is stat
ed that the bank is not likely to- resume.
Scion Humphreys, director, states
that, had the President laid before the
Clearing House ststement of the at
fairs of the bank, there would have
been no need of the suspension. az the
associated banks would undoubtedly
have come TO its assistance and helped
it over the crisis.
The settlements for the day have all
been made. Hotchkiss 4 Buruham
suspended. Hatch d Foote made an
assignment 10 Henry A. R-iRhley. with
out preferences. The ramors that the
Metropolitan Bank is indebted TO Don
nell, Lawson & Simpson are untrue.
The fact is that the firm owes the btnk
500. 900, but has securities pledged for
moro than that.
Money ia now loaniug at per cent
per diem.
THE PosI's ACCOUNT.
The Post SAYS: AT twenty minutes
after eleven. long lice of men and
a a - s.f R..k Sd AL Ter -
window in the Metropolitan bank, AZ
Bresdway aud Pine streets, of which
George /. Senay il president. Every
person in the line held Que or more
checks to be certified. the alarming IA
mors rs to failures. in every direction
having made uncertided checks OF 40
value. no matter by whom signed. just
At that nomeat the paying teller shu'
bis window, and announced th.t tue
Metropolitan bank had snspended pay
meat. as a matter of necessity and pre-
caution. A hswl of disnsy went ny
from the line OF men, and break Was
made for the door. where a number OF
dspos,tors were met hurryins IN To get
a denial of the rumored suspension. In
less than Ave minutes the iron door was
shut. aud policemen arrived TO etahd
ouard ON the stairs. The hrss story
told TO large depositors. who arrived
brestbless and indignant, wss that tue
suspension was ordered by Seney, Ia
order 20 prevent = run. for waien tue
hank NIGH. not be prepared. IL Was ssid
by Mr.. Ssney that II the matter quicsed
In the afternoon. the bank might open
in time far some business to be done
TODAY. This promise was accepted oS
the group Of depositors as OF small Com
fort. and after twelve o'clock a crosu
OF nearly husdIed persons eathsrei IA
front OF the bank. and bewalied Ter
prospective loss Of deposits Two
women who had drafts upon Tie oans'
we're in tears, spon the sostom step
Among the depositors who appeared 70
snuw ANYTHING about the suspensioa. u
~as ssia thai the i'm aed, te cause :
= damand for more than half million
Inv the 81, airing house, 90 make COCA Us
ae.,aunt. The railroad spscaistlons
az President Seney are genefaiiy
.unpassd IN be the real eaue-
Of he -u>p-nsion. Mr. seney ,s rres'-
dent of the Eas, Tennessee 4 Nirsinia
X abroad. the stock OF which vas selling