Delaware gazette and state journal., 1884-05-22

prevail in Wsll street. The announce.
ment Of the failure ia thus graphically
reported by the New York Herald:
A little after 2 80 O'Clock in the after
noon three ominous raps of the chair
mans gavel sounded from the rostrum of
the Stock Exchange. Instantly there
was hush upon the floor,
and the brokers crowded to the
front. The stersotyped language of
sregret inability to meet engagements"
fell upon their listening ears, showing
that another firm had suocumbed. There
was no sound until the signature to the
note-"Fisk & Hstoh"-was read. Then
one long shout Of surprise and dismsy
rang through the room and the crowd
made rush for the doors. 1t seemed
as II every man was trying to get out.
Through the doors on Broad street they
rush and along the sidewalks Of New
street the vry was repeated, "Fisk &
Hatch !" The market WAS not 30 much
affected by the suspension as might have
been expected, for 1t was known the firm
was not "stock house, and probably
was carrying few II any railroad stocks.
In less than a minute from the time the
announcement WAS made q crowd had
gathered in front OF the office of the firm
at No. s Nassau street and dozen per-
fons were making anxious inquiries at
the counters. Mr.. Hatch, In reply so ali
inquiries, said, weArily
Pray don't ask me any questions just
now"
A few minutes later the iron doors were
closed and only those known to have
hna mifh ba tnl
The New York Times says regarding
the question Of liabilities
A gentleman familiar with the affairs of
the firm admitted that calls for money
had been made during the day which the
firm could not meet. The calls, he said,
amounted to several hundred Thousand
dollars. 1t was said that the full extent
Of the concerns liabilities were not
known even to the members of the firm.
At 1870 last night the handsomely
furnished office of Fisk & Hatch was
brilliant with light. Busy clerks rushed
around with pen-holders between their
teeth and turned over the leaves Of Zig
canvas covered books. Psssers-by on their
way to the ferry stopped and looked in
at the windows. A policeman kept in
quirers away from bolted sheet-iron
DOOR. In Mr.. Hatoh's private office the
two partners glanced over files Of oorre-
spondenoe and wrote letters. Mr.. Fisk
said to Times reporter: "We shall posi-
lively not be able to make any statement
tonight. You oan see how busily We are
at work, and by tomorrow We may have
something definite. Beyond what is con-
tanned In our oroulsr l have nothing TO
Have you aoy idea yourself OF he
extent OF the FIRMS liabilities 70
"Well, that's what tins lawyers you'd
call leading question, aud | mr lie
cline to answer. Matters are NOT Ia a
condition to admit Of my doing co."
The following circular was issued by
Fisk Il Hatch last evening to their dspos-
itorS and other creditors
1t is with great sorrow that we are obliged
to announce to you our suspension, which
has been brought about by a combination OF
circumstances.
The long. continued decline in the market
prices OF securities, even the very best, &C.
companied bya general weakening OF conf
dence in financial matters, together with
heavy drainage of deposits, are the principal
causes OF our unfortunate position.
We can only request those having claims
against us to extend to us such consideration
aud indulgence m we may need and it may
be in their power to grant.
A. the Windsor last night the story WAS
everywhere current that one of the imme-
diate CAUSES leading to the suspension of
Fish & Hatch crew out of transaction
on Wednesday between the firm and
bank dciny large business in govern
ment bonds. l. was said that on the day
mentioned the bank purchased about
$50, 900 of bonds from the firm, rendering
certified check in payment. When this
was ahown to MIR. Hatch he declined to
recsive it, stating that In times like the
present he would only accept greeubscks,
whereupon the transaction was Cancelled,
The bank officer informed Mr.. Hatch that
II he was not prepared to accept the
check bis firm had better suspend.
According to the story the firm had
loau of 100000 In Government bonds
from the same bank, which was yesterday
called in, and the firm, not being able to
raise the money to meet the demand, were
obliged to suspend. An effort to see the
official of the bank by whom both trans
actions vera said to have bsen managed
was unsvailing, but the story was gener.
ally accepted as correct and the facts as
largely instrumental in causing the sus.
pension.