The bee., 1884-05-24
NEWS OF THE WEEK,
Eastern and Middle states,

GRANT & WARDS liabilities have been
found to exceed the colossal sum of s14.501..
600
A COLLISION occurred near ConnellsyilIe.
Penn, between a freight train and a gravel
tram containing about fifty laborers Four
teen men were either crushed or burned TO
death, and twelve more injured
The recent failures of " Jim Keene. the
Wall street speculator, followed by the sls-
pension of the Marine National bank. and the
failure of Grant q Ward, succeeded in turn
by the embarrassment of the Second Ma
uonal bank, led to a panic in New York finan-
cial circles, such as has not been witnessed
since the memorable day when Jaw Cooke
went 10 the wall in 1913. During the daY two
bank6-the Metropolitan National and the
Brooklyn State bank-closed their doors, and
seven prominent firms Of bankers and brokers
suspended. Wall street was q scene of tire
mendous excitement, and was crowded from
sidewalk 10 sidewalk with a rushing throng of
people. Secretary Folger, however, helped
allay the excitement by ordering the treasury
department TO pay the S10000.C00 included in
the l27th call in advance of the time set-June
2O-and the New York Clearing House associa-
ton, composed of sixty-three banks, held a
meeting and resolved to stand by one another.
This action in measure Quieted matters.
IHE deficit OF John r. Emo. president of
the Second National bank, of New York. was
larger than was at first supposed, amounting
70 about S4000,000. il was made I'D by his
father, and the bank went on with its bust
ness, although many alarmed depositors drew
out their money. Mr. Emo lost the money in
speculation.
VERMONT Greenbackers held a State con-
Tention at Waterbury and nominated full
ticket headed by Samuel Soule for governor.
On the second day of the financial excite
ment IN Wall Street quieter state of affairs
existed, and only two more failures occurred,
one of the two firms of brokers suspending
being the prominent house Of Fisk & Hatch,
The Junior partner in which was the president
of the New York Stock Exchange The Met
ropolitan bank again resumed business. Presi-
dent George L. Seney resigning.
A FIRE which broke out at 9 o'clock in the
morning at the Papachoag mill, Worcester.
Mass, spread SO rapidly that many opera
tlveS were compelled TO jump from the upper
windows Nineteen male and female opera
tlves were injured by their leap for life.
several with results likely to prove fatal. The
entire mill was destroyed and an estimated
loss Of $l50000 was incurred
THERE was large attendance of delegates
Mt the annual session OF the PRESBYTERIAN
I+"noral Assembly North, held in Saratoga,
N. Y.
ONLY one failure was reported in Wall
street on the third day of the financial whirl-
wind But in Newark, n. j., the Newark
Savings Institution, which had been consid.
cred one of the stanchest repositories in the
State, was forced to suspend and 60 into the
hands OF receiver. The banks trouble was
caused by the suspension of the New York
firm of Fisk q Hatch, through whom the in
stitution had invested its government bonds
FIRE destroyed five of the Harlem Rail
road company's car shops in the upper part of
New York, causing loss of about S20O000
DESTRUCTIVE forest fires have again been
raging in the vicinity of Willlesbar1e, Penn.
GREAT excitement was caused at Erie
Penn, by the suspension of the Erie County
Savings bank, and disappearance of its presi-
dent, Adam Brabender. The bank was mainly
patronized by German farmers, mechanics
and railroad men, and the deposits were $780,.
000