Omaha daily bee., 1884-05-16

1 u NAASA UNIV Va 49, - NN
ing firms; although be admitted the pos
| sibility of some weak stock houses sus-
pending temporarially. The failure of
| thelstter he does not regard asa misfor-
tune, as it would weed out small dealers
and help to give a healthier tone to the
general situation.l
THE MARKET RISING
Kiernan's agency says: Davis 20.
| received orders from London to buy both
| stocks and bonds. The London market
| for American securities is advancing with
a strong feeling. The stock market is
| strong and higher in consequence of the
resumption of the Metropolitan bank,
and the action of tho Clearing House.
Prices rose from Il to 4 per cent. The
failure of Dimick & Co had compare
lively little effect.
THE OPENING.
WALL STREET, 1000 a.m.-The floor
of the exchange had more thar the usual
complement of buyers, and by $3.50
crowds of spectators gathered in knots
waiting the signal to commence the days
business. just as the clerk marked ten,
Chairman Mitchell gave three raps of a
gavel, and in al instant the pent up ex-
element of the brokers gave vent i'll a
howl, and five hundred hands were lifted
in the air, and the various pools were
formed, in which different stocks were
dealt in. Ere five minutes had elapsed
the gavel was again heard amid the din,
and the announcement was made that
Dimick & Co., of the United bank, sus.
pended. Dimick is president of the
bankers and merchants telegraph.
BREAK IN THE CLOUDS.
1915 a. m.-Dispatches were received
this morning from London houses by
leading foreign bankers giving orders to
buy both stocks and bonds at market
prices. AS it was feared, foreign orders
to sell would be the chief factor in the
downward movement to-day, this news
was greeted with great satisfaction and
was regarded as another break in the
clouds that threaten the financial world.
GoULD's OPINION.
Jay Gould stated to the Tribune: "The
disturbance is a senseless thing. 1t
comes from fear of each other by both
banks and brokers, | think, rather than
anything else. The general calling of
loans is wholly unnecessary and foolish.
l suppose the banks are a little more eau
tious than Usual on account of the loss
incidentally suffered by the First Ma
tional last week, but l think the
worst is over. People will regain
their senses and there will be or
ders here from all over the country, from
persons eager to pick up bargains. The
action of the banks is excellent. Every
one can see there will be no panic while
the banks stand together. lam sure all
this excitement is at an end" Gould con-
tinued: 81 never expected to see West
ern Union sell below fifty. However,
the company is certainly earning it's divi-
dends and this trouble only adds to it's
business. 1 should suppose some brokers
might have realized that fact"
TELEGRAPH TUMBLE.
WALL STREET, 10:45.-The Bankers e
Merchants telegraph stock, in which
Dimick & Co. were heavily Interested, is
offered at 70, against $1.19 sales yester.
day. A sale at 55, ~''seller so" was just
recorded.
A BANK RESUMES.
Liz tIOpOlll Ddlh IcSulllSu pay
ing all depositors presenting checks.
Even before tho hour named for resump-
ton the paying teller opened his window.
The first man in line received his money.
At noon the number in line was moi over
twenty, principally boys and clerks.
Only one lady among them. She was
attired in widows weeds. Her gratifica-
ton on receiving her money was plain.
The small number drawing out funds is
regarded as promising for the future of
the bank.
OTHER MARKETS.
At the produce exchange there WAS no
excitement. 1t was compa ratively dull.
At the petroleum exchange little Was do
ing. Prices opened higher but lost the
advance and are nov steady at yester-
days prices. There is no
appearance of trouble at the
produce or petroleum exchanges.
- A FALL IN BOSTON.
WALL STREET, 11:30.- A dispatch from
Boston reports the suspension of r. A.
Hawley & Co., a firm which, although
not heavy dealers, were regarded as of
good standing. Hotchkiss & Burnham
are balancing accounts, and expects to
resume tomorrow.
THE CRISIS PAST.
WALL STREET, 11:45 A. M.-Compara-
tive quiet reigns at the stock exchange. 1t
is more apparent every moment that the
crisis is past. The suspension of Hawley
& Co., of Boston, was caused by n run on
the banking department of the house. 1t
is believed it will be temporary, Among
the bankers who received orders from
London and the continent :" ~ fmer-
lean securities in this marNoO are Bel
mont, Seligman, Drexel az Morgan, Nor
ton d Bliss, l.. Won Hoffman, Kuhn q
Loeb, Ludwig, Thalman, j.. I'll. Davis,
and j. ID. Probst.
IN LONDON.
STOCKS ON THE RISE.