The Abilene reflector. [volume] (Abilene, Kan.) 1883-1888, 1884-05-22
MORE OF THE CRASH.
the Erect of the Late Fsiiures-The Situs
ton Grave, but More Measuring.

ton Grave, but More Measuring.
New YORK, MAY 16.-The market at the
Produce Exchange was feverish yesterday,
and at the opening prices fell off little,
md wild rumors of failures in the West
we're started. Subsequently the market
regained what it had lost only to fall of
again. However, on announcement Of fur
Their failures, Wall street, it closed slightly
lower than on Wednesday. There
was talk at the exchange of abolishing
calls, as has already been done in Chicago.
1t was the general opinion that this would
be dohe Immediately. At the Cotton Ex-
change the market opened firmcr, prices be-
ing higher than at the close OF business
Wednesday. There was little business
done, however. When the news of the
failure of Fisk & Hatch reached the
exchange, the market broke somewhat
ST. LOUIS FINANCES
ST. LOUIS, May 16.-The situation here
is practically unchanged. Bankers and
business men generally have no apprehen-
sion for the future. More satisfaction is
expressed at the resumption of the
Metropolitan Bank, and while a little
uneaSineSS is produced by the suspension of
is created by the temporary trouble in Kan
sas City, still the general opinion is that
nothing serious will result outside of New
York. Considerable attention was attracted,
however, to DOnnell, Lawson Simpson,
and there is considerable desire to know the
condition of that firm and what its future
action will be. 1t has intimate rela-
lions with and is correspondent of nearly
hundred banks in Missouri, some sixty
in Kansas, thirty or forty in Texas, and has
numerous connections in all the extreme
Western States and Territories. 1t is not
known, of course, to what extent they are
involved in this course, but their indebted
ness to Western bankers may run into mil
lions l.. V. Stephens, of Boonville, one of
the most prominent bankers of the in
terror of this State. estimates that
i'll case of complete failure of
the firm the loss to Missouri will be fully
$500, 600. 1t is also feared the loss to Texas
b nhers will be heavy.
UNDISTURBED IN SAN FRANCISCO.
SAN Francisco, May 16.-The suspension
of Fisk IL Hatch, of New York, crea-
ted more surprise than any yet announced.
This is chiefly due to the fact that the sus-
pended bank was such heavy dealer in
Government bonds, largely held on this
coast; secondly, they were fiscal agents
of the Chesapeake IL Ohio Railroad sys-
TEN, controlled by G. p. Hunt
ingtOn, first Vice President of the Central
Pacific. The announcement was immedi-
ately followed by rumOrs as TO the effect the
suspension might have on railroad interests
on this cost Charles Croker President of
the Central Pacific stated emphatically 10
a representative of the Associated Press that
it would have none, that neither the Central
nor the Southern Pacific were or could be
involved with the suspension of the firm.
New YORK, May Is, 10a. m.--The Met
ropOIitan Bank posted notice that the
bank examiners having made an investiga-
ton, the bank will resume at twelve o'clock.
Henry L. jacques was elected President of
the Metropolitan Bank in place of George
J. Seney, resigned. The floor of the
Stock f Exchange had more than the
usual complement of buyers, and by 9:30
crowds of operators gathered in knots
waiting the signal to commence the days
business. Just as the clock marked ten
Chairman Mitchell gave three TapS of the
gavel. In an instant the pent up excite
ment of the brokers gave vent to 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 gayel was
again heard among great din, and the an
nOmcelnent was made that Dimmick
IL Co., of the United Bank had sus-
pended. Dlmmck is President of the
Bankers e Merchants Telegraph Company.
WHAT GOULD SAYS.
Jay Gould stated to the Tribune: 'This
disturbance is SenSeleSS thing. 1t comes
from fear of each other by both banks and
brokers, l think. rather than anything
else. The general calling of. loans
is wholly unnecessary and foolish.
suppose the banks are a little more
cautious than usual OH account of the loss
suffered by the First National last week,
but think the worst is over; people will
regain their senses, and there will be orders
here from all over the country from persons
eager to pick up bargains. The action of the
banks is excellent. Every one will see that
there can be no panic while the banks
stand together. l am sure all the excite
ment is at an end.'' He says the action OF
banks, in deciding to pool issues, has de
cided the situation favOrably. He does moi
anticipate further failures of either banks
or banking houses, although he admits the
possibility that some weak stock houses |
may suspend temporarily. The failure OF
the latter lie does not regard as misfor. |
tune, as the wedding out of small dealers |
helps to give healthier tone to the general |
situation.
GRANT & WARD.
Receiver Davies reports the liabilities OF |
Grant IL Ward, so far as he is able to ascer |
tain, at S14,501, 531. COllaterals held by |
creditors between ten and twelve millions, |
leaving an unsecured Indebtedness of be |
tween two and three millions
A SLIGHT BREEZE IN KANSAS CITY.
KANSAS CITY, May 15.-At All early hour
this morning crowds began to gather around
the banks. The news from New York YES
terday had created some excitement
especially among small depOsitOrs, many of
whom had all their savings in bank and
felt little nervous. As the hour
for the opening of the banks approached
the crowds about the doors grew denser
and speculatIOns were rife as to what would
De done While some wore serious cOur.
enances. the greater portion Of the people
we're good nathred. At nine o'clock the an
was made that an agreement
rad been entered into by all the bankers of
he city to pay twenty per cent. on deposits
md give, If desired. a certified check for the
valance, payable only through the Clearing
House. The purpose of this measure was
obviously to avoid the dangers of a panic
ricken run. The large deIOsitOrs were uni
Ormly confident and kept away from the
'anks. All of the large mercantile houses
lade their deposits this morning as il
I0thinc unusual had occurred This had a
ecided tendency to check alarm OH the part
4 t10se who were disposed to be frightened
1 the outlook and the crowds soon began
D peCeeptibly melt