The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1884-05-22

CORNERING THE BANKS.
1 NEW YORK, Nav 16.-The run O
the Immigrants Industrial Saving
bank abated to-day; $4,000 was pal
out yesterday; no run to-day on tn
Manhattan savings institution. TIL
Greenwich Savings bank run ende
TODAY, and there was steady run OF
the German Savings bank TO-DAY
mostly women, the teller paying gold
The Second National bank is quie
to-day. There were many deposit
and but few drafts.
THE CRASH IN GEORGIA.
ATLANTA. May 16.-Jno. II. James
banker, announced last evening tina
he would not open his doors thi:
morning. He has half a million dol
lars worth OF real estate, which hi
will offer for sale immediately. anC
which will more than meet the liabil
ties of the bank. Mr.. James was of.
! fered assistance, but he declined it.
WILL PAY IN FULL.
KANSAS CITY, May 16.-AlI traces
cles have disappeared. The banks are
paying in full to-day, and business
this morning proceeds as usual. The
plan of partial payment adopted yes
terday was simply precautionary
measure, and was dispensed with as
soon as confidence was restored.
NEW YORK, May 6.-Washington
advices state that the sub treasury
here reports only 100000 in bonds
offered for redemption under the Fol-
ger proposition to redeem by antici-
pating the date OF the call. The ex-
cess in the treasury is now Sl50,675,-
$50, of which fourteen millions Is
above the legal reserve; therefore,
there is sufficient for another call, If
necessary. The clearing house banks
have agreed to advance twenty mil
lions of dollars on government bonds,
if necessary, to protect the market.
Up to this hour it is said $2,500,OOO is
loaned on this collateral.
New YORK, May 16.-At the sub
treasury large amounts of greenbacks
for silver certificates are being paid
out to the savings banks. The eX-
element at several of the Brooklyn
banks has Gained down. Nothing
that could be called a run on any Of
the savings banks took place to-day.
The Atlantic State Bank, Brooklyn,
was open to-day, but no business was
transacted. The bank examiners
have got through, and found
everything all right, and the
capital of the bank unimpaired.
2:15 P. M.-The hour Of settling has
passed safely. No additional failures.
FROM BOSTON.
BOSTON, May 16.-The office of
Hawley s. Co. was thronged this fore
noon, including many ladies. The as
signee is in charge, and Hawley is at
the stock board tonight toIarrange
matters. The fact that the transfer of
the books of the Atchison, Topeka &
Santa Fe railway reopened to-day,
makes his task onerous, as the firm
was dealing heavily in Atchison,
Topeka 81 Santa Fe securities. There
fore 1t will have many transfers to
make and it will be several days be-
fore the status of the firm IS learned.
Its resumption Is impossible.
add situation
2:45 P. M,-All quiet. Orders were
cabled 10y Seligman for the ship
ment from Europe of one million of
francs 10 Napoleon9, and probably a
hundred thousands pounds in double
eagles will be shipped from London.
Russell Sage has just stated TO j.
Gould that he settled more than three.
quarters of his puts" and will con-
tinue settling up as fast as his force
can figure the accounts. The Specu-
lative day has ended peacefully, and
all evidence goes to show the semi
panic is over, and the monetary af-
fairs gradually return to their &C
customed condition.
3 P. M.-Government bonds were
firm in the afternoon, and at. the ESQ
call the four-and-a-half s were quoted
higher, at III and 1121s; the three's
were quoted fraction lower, at 100.
The stock market opened weak and
irregular generally, on account Of the
failure of Fisk s. Hatch on Thursday.
The first sales were made for the most
part at a concession of to IL per
cent, and Western Union, Wabash
preferred, Union Pacific and Texas
Pacific, however, were higher, and be-
fore the first call there was sharp
upward turn, in which Lake Shore
rose 2 per cent, Pacific, 51s; Western
Union, 2; Central Pacific, ,24; and
Missouri Pacific, 1; Specula-
tion was favorably affected
by the weakness of the sterling ex-
change market. The buying of stocks
for foreign account was again quite
heavy, and between 10000 and $4,000
shares were taken. About II a. M,
the announcement was made of the
failure Of II. G. Hardy & Son, bankers
and brokers, and there were rumors
that prominent house was in trou-
BILE. About this time also the failure
OF the Newark savings institution
was announced, and drive was
made against Lake Shore and New
York Central. The former broke 8
points and the latter 80. Among
other active shares, Missouri Pacific
fell off five points; Kansas Il Texas,
IL; North Pacific, preferred, 3;
Union Pacific, ~; Western Uion,
224. Subsequently, while there were
frequent reactions and at times q
feverish feeling under fear OF
further failures, the market showed
a hardening tendency, and as p. m.
approached there were not only no
further failures, but favorable condi-
lions multiplied. There was q great
improvement in prices, and an active
demand for stocks, the day closing in
whirl of buoyancy such as has not
been witnessed for some time past.
The upward movement was stimula-
ted by the fact that the bank OF New
York had loaned 100000 on govern
ment bonds, and was willing to lend
more on same security, and that the
clearing house had issued So, OOO,OOO In
certificates, and expected to issue q
large amount more, and that consid-
cradle sum of gold was ordered from
Europe. During the day considerable
money was received from nearly all
points, and investors brought heavy
amounts into the street to buy stocks.
Throughout the afternoon there was
an absence of excitement, and more
disposition to buy was manifest than
at any time during the week. COM
pared with last night Central Pacific.
at to-day's close, was five per cent
higher; Western Union, "a; Wabash,
pa; Kansas 81 Texas, 2sS; Texas u
Pacific, q; Omaha preferred, and
Missouri Pacific preferred, IL; Erie
81 Northern Pacific common, IL; and,
a number of other stocks one per cent
higher, while Michigan Central is 3,
Illinois Central IL. and Lake Shore /
per cent lower.
NEW YORK, May 10. = Donnel,
Lawson 81 Simpson tonight handed
this card to the associated press
To OUR CREDITORS 1t is with
great sorrow that we are compelled
to report our suspension, which has
been brought about by combination
of circumstances over which we had
no control. We can only request
those having claims against us to
extend to us such consideration and in