davidaulloa/AmericanStories huggingface dataset:
BoletiÌn mercantil de Puerto Rico. (San Juan, P.R.) 18??-1918, 1884-05-16
IIlNUEL TORREIRl IGLEIlS

Desea saber con iUteTss el psraderoo
de 50 hermano ID. Francisco que bars
5 amos residid en- Mayaguez.
CHasquier persona que dc noticias So
bre eI citRa0 Francisco Torreira lgle-
sias Sc le sgrade-era. Dirijase paIs
clio 3 la administration del BOLEIN
MEgcASTEI, 8 con csrta 4 Manuel To-
rTeira Iglesias. -Inquisidor mum.
Hahana. "
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-05-15

hourly editions to meet this demand The rooms
of stock brokers supplied with private wires to
Wall street We're filed with dense crowds dur
ing trading ghours, watching the fluctuations as in
dicated posting the latest news. Brokers whL
siderable stock for their short" customers, and
there were a number of rather heavy purchases
by moneyed customers who took opportunity Il
buy some better class of stocks for investments
In banking circles the situation was discussed
freely, and the declaration made that the local
banks We're never in better condition and had no
alliances at the East which would involve them,
except sympathehcally, by the New York fail
ures; and it was agreed that the failures of the
brokerage firms could have only passing effect
here. Banking officials could see nothing to in
dleate repetition of of the experiences of 1873,
as the conditions Were widely different.
Another class of observers contended that the
situation was "A natural one, but due very large
ly to the wrecking tendencies of various large
operators who boasted that their prognostication
had been voiced by certain papers for the past
SIX months. 70 accomplish the present rasul&
stocks had been raided which had shown q large
increase in earnings, but the same influences
could not affect values generally. The action
OF the New York banks i'll taking united actiop
Tor their own protection was commented on
favorably, and the expression was general this
afternoon. that the crisis would be confined to
New Iork city and had already been passed.
Newspaper comment hero is very conservative
as to the future, but is savage against the sup
posed orr 5nators Of the financial tempest, and
VINO are termed by one paper the ''wreekers Of
Wall tIpetn
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-05-15
Financial Officials of the Government
Do Not Expect General Panic.
Markets Outside of New York City, with
the Exception of Oil, Apparently In
effected by the Trouble.
A REAsSURING REPORT.

SOlvency of the New York Banks-An Effort to
Put the Metropolitan on It's Feet.
Special to the indianapolis Journal.
New YORK, May 14.-The Stock Exchange
panic to-day was chiefly due to the suspension of
the Metropolitan National, precipitated by the
failure of Nelson Robinson, the presidents
(Seney) sOn-in-law, There will probably be no
loss to depositors. The associated banks enacted
that clearing house certificates be issued, as in
1873 which will assist any solvent bank requiring
them. There were several considerable failures
among brokers, but no weakness is suspected
in the banks. Vigorous efforts are being made
for the immediate resumption of the Metropoli
tan. There was a steadier feeling at close of
business. WINsLow, LANIER d Co.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-05-15
AT THE STOCK EXCHANGE.

One of the Most Exciting Days Known in
the History of Speculation.
New YORK, May 14.-The financial complica-
tion for the past week, supplemented by the rev
elations regarding the management of the Sec
ond National Bank which resulted in the resg-
nation of its president brought about such a
feeling of uncertainty in the financial situation
that at the opening of business at the Stock Ex
change this morning it was felt that disaster was
imminent Before long one failure after another
was announced, until five stock firms suspended
and the Metropolitan National Bank closed it's
doors Its president, George l. Seney has been
one of the most prominent spectators on the
Exchange. and was rated high. The failure of
Hatch a. Foot s likely to involve country firms,
as they held the accounts Of many private bank
ers outside of New York, as well as individuals
West and South.
The Metropolitan Bank was $500, 600 debtor to
the clearing house this morning. George l.
Seney, president of the bank, was partner in
Nelson Robinson & Co, and Seneys sons were
also partners. In last weeks statement to the
clearing house the Metropolitan Bank figured as
follows: Loans $40, 977, 900; specie. 81, 779, ,OOO
legal tenders $49l ,00O deposits, 49, 425, 600. In
the statement issued by the clearing house on
April "a Cast issued) the full condition of the
Metropolitan Bank was reported as follows;
Capital $3,000000; net profits. 81 49S 600; cireu-
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-05-15
WHEIN
CLOTHING STORE.
FOR 5OCENTS
The WEEKLY JOURNAL.

In order to place the WEEKLY INDIANA
STATE JOURNAL in the home of every Repub-
Ecan in the State, and thus do good campaign
service for the Republican party, we have de-
cided to send the paper till after the presiden-
tial election for so cents. This will include
the number beginning from the present date,
and the one succeeding the November election
giving the result of the national campaign.
THE WEEKLY JOURNAL is complete family
newspaper. 1t is specially edited, and much
of the matter appearing in it is especially pre-
pared for the wants of the weekly readers. 1t
is a compendium of the NEWS OF THE WORLD
from all quarters; it has full and accurate mar
ket reports; its editorials are political, social
and general; it has the news of the State
and Of the city; it has record
of the proceedings of Congress; it will have a
complete report of the national conventions at
Chicago. Its literary and miscellaneous fea-
lures are of the best.
THE WEEKLY JOURNAL is a newspaper that
should be in every family in Indiana, and at
the price named for it there is no reason why
it should not be, at least during the exciting
and important campaign upon which the
country is about to enter. Political com
Imittees cannot do better than to see that
copies of THE WEEKLY JOURNAL are placed
in the hands of those persons in their
counties who are not now readers of
some sound Republican paper The
tariff question is the one issue which
is likely to be most prominently dis
cussed and to this the Journal pays especial
attention, advocating the maintenance Of the
principle of protection to American industry
in whatever revision of the tariff laws may be
made necessary in the future developments of
business and labor. In this question the
farming community is deeply interested, and
the discussions of the Journal will be
largely directed to the agricultural aspects of
the question.
THE WEEKLY JOURNAL is the only paper in
Indiana that publishes regularly Ten Pages,
and this will be continued throughout the
campaign, despite the low price. Send in
names at once and thus get the full term for
the money. JOHN C. NEW g. SON,
Indianapolis.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-05-15
AT MILWAUKEE.
MIR. Mitchell Finds Difficulty in Crediting th(
NeNs. but Is EinalIY Convinced.

MIR. Mitchell Finds Difficulty in Crediting thl
News, but Is Finally Convinced.
MILWAUKEE. May 14-At noon, to-day, the
excitement on Change was intense, owing to ru-
mors of the failure of the Metropolitan, Phoenix,
and Second National Banks, of New York, and
the June option wheat declined from 90 cents
the opening figure TO SOC in the afternoon selling
down to 1884 and back again to 80 lac, the clos
ing figure The first rumors of the failure q
the Metropolitan Bank were not believed, bun
when the suspension was confirmed, there was
considerable speculation on the effect it would
have on the Wisconsin Marine and Fire Bank of
this city, its president Alex. Mitchell having
mis- deposits there. When asked about the con
diton of his funds, he replied he had received
no intimation Of the banks failure Soon after
ward, dispatch was received by broker on
Change from a prominent New York firm and
Mr. Mitchell acknowledged that the authority
was good, but said the suspension must be only
line of securities with the metropolitan, because
they paid no interest Their failure could have
no effect upon him 1t is understood that Mr.
Mitchell telegraphed the Importers and Traders
Bank, of New York, to honor all his checks, or
those of the Wisconsin Marine and Fire Insur-
ance Bank. in case they could not be paid by the
Metropolitan
The general excitement deprecated wheat so
much that \. X. Shepard a. Co suspended, viii
liabilities of Sc 000 The firm hope to pay dollar
for dollar and dresume shortly There are several
bull" firms in Milwaukee, and they called
on for heavy margins, but met them without
difficulty. No other failures are probable.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-05-15
Views of Manager Camp.

New YORK, May lathe World, of Thursday,
has the following interview with William A.
Camp, manager of the New York clearing house
"rhe failures in Wall street to-day cannot be
called panic. One bank suspended and num-
Der of brokers' firms failed. That is the extent
of the damage thus far done. The prompt action
of the clearing house to-day in passing resolution
that the banks shall sustain each other has put
end to the excitement, and no apprehension
need be felt. The situation is far different than
in 1873. Then it took the banks two or three
days to decide to do what they have promptly
done to-day; then the trouble was allowed to
it has been checked at the outset
1 believe the Metropolitan Bank will resume
operations tomorrow and do not apprehend
that any other bank or firm will go under,'
What was the cause of the trouble?"
ut began with the failures of Grant & Ward
and the Marine Bank. These occurrences
created feeling of general dis
trust for which there was really no occasion.
1t was fostered by the wild rumors set afoat on
the street, and which were reproduced by the
newspapers The action of the Continental
Bank in refusing to certify the checks of A.
Dyett & Co., and the trouble of John c. Emo
and the Second National Bank, capped the
climax of the general feeling of uneasiness, and
the result was the furry of to-day"
''Who is principally responsiblel"
"Those who circulated and exaggerated the
rumors which have been flying about ever since
Grant & Ward went under. But, as l said be-
fore, all further danger is averted by the action
of the clearing house to-day"
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-05-15
THE NEWS AT WASHINGTON.
Great Anxiety Displayed by Number of
Statesmen Who Deal In Stocks.


Great Anxiety Displayed by Number of
Statesmen Who Deal In Stocks.
Special to the indianapolis Journal.
WASHINGTON, May 14-In financial circles
here, to-day, there was little notice take of the
panic in New York, except to look out for ex-
change made questionable by the failures; but
in congressional and official circles generally
there was downright excitement, for large pro
portion of members of the House and Senate
and officers in the departments deal in stocks,
and many of them heavily. There was a rush
to the Stockholders, and those who were long
could not close out quick enough, and were so
'panicky" they lost all confidence in either side.
The consequence is there are a good many
thousand dollars less capital in those mems
pockets tonight than there was this
morning The corridors at the Capitol leading
to the telegraph offices were filed with excited
statesmen, but they finally went direct to their
brokers offices. 1t is said most of those at the
Capitol were buyers of the Pacifcs, and that
they were 'let in on the ground floor as a
broker put it, upon representations Of officers Of
the companies that stock of those roads had
been forced to the lowest ed-rock, and that as
soon as Congress adjourned and it became evi-
dent that there would be no land forfetures
there would be boom.
1t is reported here among stock dealers that
General Brady who has been a big bear in
New York for some time, has made enormous
gains by the panic to-day and the squeeze during
the past week, some putting them above
quarter of million.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-05-15
Action of the Clearing-Honse.

New YORK, May 1.-THE Clearing house AS
sociation has Just adjourned, after adopting the
following:
Resolved, That in view of the present crisis the
banks of this association for the purpose of sustain
ing each other and the business community orders
that committee of five be appointed to receive from
banks that members of the association bills re-
ceivable other securities, be approved by said
committee, who authorized therefor to issue to
such depositng banks loan certificates bearing interest
at per per annum, not in excess of 70 per cent
of the Securities bills receivable deposited except
in cases of United States bonds and said certificates
shall be received in settlement of balances at the
clearingho
The following gentlemen comprise the com
mittee f. D. Tappin, Geo. S. Coe, J. D. Yer
milye, Geo G. Williams, W. A Walland Ed. H.
Perkins.
The action of the clearing house associated banks
in resolving to issue clearing house certificates for
75 per cent. of bills receivable securities held by
the bankers, and that the same be received and
paid in settlement of balances between banks
at the clearing house. had a very reassuring
effect late in the afternoon, and led to more
hopeful feeling, particularly as this plan was
tTied with marked success in checking the panic
of 1873 This will enable the banks to lend more
freely to the business community and brokers,
and. in connection with the action of Secretary
Folger will result in restoring tone to the money
market
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-05-15
IN BROOKLYN.
Officers of the Atlantic state Bank Conclude
to Suspend Temporarily.


to Suspend Temporarily.
New YORK May 14-From the Tribune of
Thursday: The news of the excitement and
failures in Wall street caused much alarm in
Brooklyn, and those interested in the financial
institutions of that city feared lest they should
be involved in ruin Only one institution, how
ever, seriously suffered This was the Atlantic
State Bank, in which Mr.. Seney held one
quarter of the stock It cl cared through the
Metropolitan Bank and had sent over its funds
for the day before the closing of the Metropoli-
was reported. In order to avoid run on
deposits and to realize upon its securities, the
Atlantic State Bank decided to close its doors at
p NJ. There was no crowd about it
and only a few depositors were turned away
without their money. Cashier Oliver NJ. Denton
said he confident the bank would reopen to-
day and pay all depositors in full. The banks
capital is $1,000 and on January l there was
surplus of 100000 and undivided profits of
$40, $50. Mr.. Denton added that the bank had
sent its checks to the Metropolitan Bank and it
was not doubted it was all right; when that bank
closed they were left without money
and in the panicky condition of the market
were unable to realize upon securities in their
possession which were worth over 100000.
''E. S. Puffer, the president of the bank, said
the bank would resume to-day. The city of
Brooklyn has $1O7, 900 of its funds deposited in
the bank
''The other Brooklyn banks which cleared
through the Metropolitan Bank, were the Nassau
and the Mechanics The Nassau Bank had its
checks paid promptly before the failure, and the
cashier said it would not be affected. except by
the locking up, temporarily, of small balance
The Mechanics Bank secured all its funds, its
paper being redeemed by the Metropolitan be-
fore the doors were closed Both banks have
made arrangements to clear through other
banks
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-05-15
CAUTIOUS BOSTON.
The Shrewd Brokers of the Hub FOresaw
the Storm and Sought Shelter.

The Shrewd Brokers of the Hub FOresaw
the Storm and Sought Shelter.
BosToN, May 14-For the last three or four
weeks Boston brokers have pursued a conserva-
tive policy in anticipation of the present result
and the average daily balances for that time stand
ing against Boston houses in the offices of NeN
York brokers have been between 5000 and $3.50.
so that Boston brokers have been prepared tt
meet even the very worst state Of affairs The
offices of some of the large brokers here have
been besieged to-day by persons carrying stocks
on margins, who were anxious to make good
their accounts In consequence there was de-
cided fall in prices and, for the first time in the
experience # State street. checks were refused
until eXs a4inaton showed the broker that the
money The check represented wasactually on de
pOSit Although it can be said there was no ex
element, it can also be asserted that an
unusual feeling of distrust prevailed.
At the office Of the Union Pacific railroad the
same conservative policy was pursued. and no
transfers made until the treasurer was satisfied
that each transaction represented the delivery
of money. Although there was an undoubted
feeling Of confidence on the Stock Exchange this
afternoon large blocks of Mexican bonds and
Atchison securities seemed to be thrown upon
the market Mexican bonds declined rapidly
from A and fraction to40, the lowest point they
have ever reached They afterwards rallied TO
43 IL. but subsequently declined again to a.
Mexican stock fell off 3 per cent. from the open
ing price, and AtchisOn stock fell of . per ce-1,
During the afternoon transactions were confne-5
exclusively to Mexican and Atchinson securities
which remained weak to tho close, the final
prices being nearly the lowest figures of th
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-05-15
Decline in PhiiadeIphia Stocks.

PHILADELPHIA, May 1.-The drop in prices
here this morning was solely due to sympathy
with the Wall street markets. Philadelphia
stocks listed on the New York Board were
the heaviest sufferers. Reading opened at II,
and dropped 10 l6 Is; Pennsylvania fell off to
55 Northern Pacific also felt the pressure, and
common fell l2 and preferred touched 43 IA,
but quickly rallied to - IL. The failura
was announced of c. NJ, Bayard, small oper-
ator. whose holdings were sold out under The
rule tits not believed his liabilities viii exceed
$40 900 Prominent bankers emphadcally
pressed the opinion that the Philadelphia banks,
which are notably conservative, would in no
wise be affected by the trouble in New York.
The suspension of Chas, NJ Bayard, a stock
broker, was announced. His liabilities are not
heAVy.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-05-15
TIE EFFECT ELsEwHERE.
The Banks of Cincinnati Exercising Great
Caution, but Not at All Alarmed.


CINCINNATI May 14-The financial disturb
ance in New York to-day produced CORE
spending trouble here. Extreme caution is ex
ercised by the banks in all transactions and
much anxiety is felt as to the nature and extent
of the trouble in New York, but it did not take
the shape of a run on ,he banks. The action Of
Secretary Folger and the agreement of the New
York banks to help each other went far to quiet
apprehensons of further disturbance. In
deed the bankers late IN the day predict
that the worst is over and sharp rally Will be.
gin tomorrow. The general expression of opin
ion is that the New York failures could not cause
failures here and the street has been wholly
free from rumols Of embarrassment to any OF
the banks or business houses. The Third Ma
tiona Bank. which has an account with the Met
ropotan Bank, has had not the slightest indica-
ton of a want of confidence among its deposit
ors on that account Its balance with the Met
ropolitan Bank is stated by President Herne tS
be $2j 900 The markets were not affested
further than is usual by fluctuations in other
places.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-05-15
HOW 1T STRUCK CHICAGO.
The Local Banks In Good Condition and the
Operators Quite Cool.

CHICAGO, May lin view OF the great spec
ulative interests which are always sharply af
fected by outside financial convulsions, Chicago
received the startling bulletins from New York
to-day with great deal of equanimity. The
course of grain and provisions was naturally
downward, but the total break was not as severe
as has happened under less exciting conditions
and the total decline is not such a one as would
have called out any marked comments in nor
NAL condition of affairs. The New York intel
ligenee was used to the full limit by the bear
element in speculative pits to break down prices,
but with no greater effect than has
already been noted, The latest news
from the metropolis sought after
eagerly, and the afternoon papers issued
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-05-15
The Metropolitan win Resume To-Day.

New YORK. May 14-The conclusion of the
clearing house committee, after the examination
of the assets of the Metropolitan Bank
examination which was prolonged beyond
midnight that the bank should re-
sumo business today will greatly
encourage the feeling that the troubles of yes
terday were only temporary, and will not
be followed by any serious disturbances.
At the hotels and other centers of financial in
terest which were accessible last evening, the
feeling was general that the worst was over
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1884-05-15
GOVERNMENT OFFICIALS.
The Comptroller of the Currency Does Not
Expect General Panic.

The Comptroller of the Currency Does Not
Expect a General Panic.
WASHINGTON, May H.-In reference to the
condition of the banks of the country at large,
the Comptroller of the Currency says they seem
to be in exceptionally strong condition, most of
them carrying unusually large reserves, and
that the condition of affairs is entirely different
from that of 1873 He does not think a general
panic possible
Comptroller Cannon now says nothing more
will be given out by him concerning the affairs
of the Marine National Bank, of New York; all
information hereafter must come from the re
ceiver He has not received Bank Examiner
Scribas report and does not expect any AT
any rate he has nothing more to say about the
bank, and it will be useless to expect from him
a statement of the condition of the defunct in
stitution.
The Comptroller of the Currency, early this
morning, telegraphed Bank Examiner Serbia in
New York, to go TO the Second National Bank
and investigate the rumors of trouble and re-
ceived in reply the following telegram from
Serbia:
There is a run on the Second National Bank. l
have secured guarantees for all deficiencies and money
will be supplied the bank until the ceases. The
capital is left, with small surplus Particulars by
mail"
The Comptroller subsequently received a pri
vatc telegram saying the metropolitan National
Bank had closed its doors and there great
excitement in New York, but general panic
He thereupon telegraphed Serbia to go to the
Metropolitan National Bank. He replied that
the Metropolitan National Bank had closed its
DOORS the examiner had taken charge and was
awaiting further instructions. The Comptroller
instructed Serbia to remain in charge.
The Secretary of the Treasury announces
that the department is prepared to redeem the
bonds embraced in its one hundred and twenty
seventh call prior TO date of matu rity, June 90
1884. with interest to date of presentation.
Following is the condition of the Treasury to-
day:
Gold coin and bullion n.............. .$196 113 SOL
Silver dollars and bullion. -.--........ 1856 271 1872
Fractional silver. 2900l .674
United States notes Observation-Disclosures 66 693 961
Total ................. $42S.3IO, ,9lS
Certificates outstanding
Gold Observation-Disclosures. $50 S64 $50
Silver. Observation-Disclosures. 93916.5l1
Currency .. NEUTRALITY-SUSPICIOUS.. IS 20O, 900