The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1884-05-15

a. Simpson are deposlfoIS W VIZ amount
Of $4,000, 900 in the Metropolitan Bank.and
as their money there was locked up, Il was
necessary to suspend until they could find
out how they stood. IT was thought
that the suspension would be only a
Temporary one. and II was not failure.
There was heavy run on the Second Ma.
tional Bank, but its stockholders are all
solid men. and II has been sustained by
them. Amos r. Emo, owner OF the Fifth
Avenue Hotel. Is the principal stock
holder. He Is the father OF John c. Emo.
who resigned the presidency OF this bank
yesterday. Amos Il. Emo spent the greater
part OF the day In the bank reassuring
depositors who came for their money.
Many went away without drawing, and
some added to their deposits.
The Clearing House Committee went into
session early this morning. as soon as II
could be convened. After the announce
ment OF the panic In the street. they re-
NAMED in session until 800 O'Clock. when
! IL was announced that IL had been decided
not TO eXpel the Metropolitan Bank from
the Association. 1t was ascertained that
the shortage of the bank at the Clearing
| House was in the neighborhood OF half
million dollars. and this amount was made
good by the bank during the day. The
following resolution was also passed,
which Mr.. Camp, the superintendent,
stated was similar to the measure adopted
in 1873 and saved the banks from ruin:
Resolved, That in view Of the present
crisis the banks in this organization,
for the purpose OF sustaining each other
and the business community, committee
OF five be appointed by the CHAIR to re-
ceive from the banks members Of the
Association bills receivable or other secu-
rites to be approved by said committee,
who shall be authorized to issue thereupon
TO such dcpOsiting banks certificates OF
deposit, bearing interest at per cent. per
annum, not in excess OF - per cent. OF the
security or bills receivable deposited, eX-
cept in the case OF the United States bonds,
and said certificates shall be received and
paid in settlement OF balances at the Clear
ing House. The persons who were ap-
pointed to serve on this committee
are the following: +. ID. Tappan,
George S. Coe, G.. G.. Williams, E. H..
Perkins, Jr., and Washington A. Hail.
CONDITION OF THE METROPOLITAN BANK.
The members OF the committee present
and the officers OF the Clearing. House de-
clined TO express any opinion whatever in
regard to the failure or financial condition
OF the Metropolitan Bank, as the banks
Board Of Directors were in session, and
Bank Examiner Serbia was in possession
OF the books waiting for instructions from
the Controller Of the Currency at Washing
ton. 1t was announced by the cashie that
no statement would he made to-day by the
bank authorities. The steps leading to the
entrance OF the bank were crowded all the
afternoon with 4 struggling throng which
endeavored in vain to get some informa-
ton in regard to the situation.
George /. Seney is president Of the sus-
pended Metropolitan Bank. He is also
partner in the firm OF Nelson. Robinson d
Co. Seney's sons are also partners in that
firm.
CONDITION OF THE METROPOLITAN BANK.
New YORK. May IA representative
OF the Associated Press has interviewed a
prominent director OF the Metropolitan
Bank, who said emphatically that the de-
positOrs OF the bank will be paid in full.
He says that the directors have gone
through all the securities of the inStitu-
ton. and, throwing out all that may be
claSsed as in any way doubtful. have more
than sufficient to pay depositOrs. lie says
further that the suspension is solely due to
the fact that depositOrs throughout the
country having become scared through the
attacks on the president Of the bank, Mr..
George /. Seney, had inaugurated gene
raj withdrawal OF their deposits.
THE EFFECT OF THE DISTURBANCE THROUGH
OUT THE COUNTRY.
NEW YORK, May 14.-Dispatches from
all points South state that the financial dis
turbances TO day in New York have no in
fluence there so far as can be seen or heard.
Dispatches from the West, East, and North
are OF similar import.
A RUPTURE BETWEEN JAY GOULD AND RUS
SELL SAGE REPORTED TO BE THE CAesE or
THE CRASH.
NEW YORK, May 14.-The Commercial
advertiser says: 1t is reported on excel
lent authority that a serious rupture took
place yesterday between Jay Gould and
Russell Sage. In consequence OF this Il
large block Of Western Union was thrown
upon the market and so broke the price
from 60 to 81. The bad feeling between
the two great financiers continues and to-
DAYS catastrophe is believed to have been
largely indeed by this circumstance. 1t
Is certain that no conference has taken
place between Gould and Sage, rs there
has on previous occasions OF somewhat
similar nature.