New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-20
PRICE THREE CENTS.
AFTER THE WALL-ST. STORM
ONE UNIMPoRTAyr FAILURE YESTERDAY.


w. ID.
LY TO REsUME-OTHER FIRMS.
Outside ofthe stock market yesterday Wall Street
presented no feature of interest. The weakness Of
prices was no surprise TO the majority of brokers,
but there was less of the nervousness which has
been felt for number of days at every slight fncu-
alton The clerks and members of the recently sus-
pended firms we're kept busy after their sunday
rest in arranging accounts and helping on the work
Of arriving at some financial statement. The only
news that could be learned regarding the situation
of affairs was promise by person closely con-
nected with the management of Fisk Il iiatchs AZ
fairs that their early resumption was probable.
VIce-PresIdent William Lummis, who is now acting
president of the Stock Exchange. IN place or
Mr. Hatch, will appoint in few days
a committee to nominate new presiding officer.
Mr. Lummis is not a candidate account Of his
health, which he does not think strong enough to
bear the burdens that likely TO fall Oh the presi
dent for some time to come. strong effort is being
made to induce Thomas Denny, one Of the old and
respected members of the Exchange. to consent TO
take the Office. Over sixty names were put on
petition started yesterday urging his nomination.
The only failure announced at the EXchange yes
terday was that of W. b. Scott Il Co.. OF No. 81
Pine-st. The announcement caused little excite
rnent and the importance of the failure is
sidered to be in the effect 1t may possibly have on
persons IN business outside of direct connee-
ton with the Exchange. The firm Is
composed of w. b. Scott and his two
sons Albert E. and John F. Albert
is member of the Exchange. The firm has been in
existence since 1919 and has always had the repn-
tstion of being conservative in its operations. The
senior partner was for several years MEN,
ber of e large cloth house of Thomas Hunt " Co.
He retired from that tlrm in lsis and put about
5000, 900 IN the banking and brokerage business.
OF late he has not been active IN the management of
the concerns affairs, which have baen intrnsted TO
his sons. The house has been carried down by the
sharp shrinkage in values lately It's Liabilities IN
the stock Exchange were settled privately. Tho
popular opinion is that the firm has lost principally
on Canada Pacific, Manitoba and Erie consolidated
bonds. John r. Scott said that he could form no
idea of the liabilities of the firm Their losses were
due not to any particular enterprise stock, but
TO the general decline In values While they dld
considerable Southern business, Mr. Scott said it
was in frst-class securities, none of which showed
any heavy loss. The losses came from the general
and well distributed line Of securities and stocks
they were carrying. I'VE have made arTang gements,'
Mr.. Scott said ito deliver all the securities which
have been bought outright from us, and when they
are got out of the way will try to arrange basis
of settlement on our margin accounts. nSdI estate
investments have had nothing to DO with our EN-
baTTassmcnt."
The firm have had some large individual ac-
counts aud the losses will fall here and not directly
on the street No assignment has becl made, ana
none will probably be made. Nh Scott sad That
his creditors had been kind and forbearInG and the
firm hoped to be able to arrange their matters them'
selves.
FISK HATCH's PROSPECTS,.
The clerks of Fisk Il Hatch are still AZ work on
the statement of the firm, which will be ready in a
few days. Mr.. Hatch said yesterday that he had
nothing new TO communicate. gentleman who
is in position to know the condition of tue firm
said
Negotiations are now foot with strong promise OF
.or the settlement of au matters IN dheeace De-
tween Fisk Il Hatch and the Newark savings Institution
ful the firm Will shortly resume The basis Ot me
negotiations is the securing OF the entire claim OF the
receive payment in full. There has oeen much
criticism Of tie action OF the firm with reference to
its transactions with the Savings Institution. When
all the facts known II VIII be shown that the nr has
acted in an LoAolane manner toward tle DaA. lne
Chesapeake and Ohio Railroad bonds az price greater
than could obtained for them eisew Were About
twothlrds Of these Lad been disposed of the
etay srugency came and the nrn turted oacA TO me
bank Chesapeake and Ohs bonds not s osed OF and
i'm their place took securities which were more readily
negotiable for loans These Chesapeake auu ono bonds
tis dOne the depOstOIs Of the bank will c paid in full
Now with 70 the affairs OF the r IL has mad
very large lolus on Government oQhus' i 'nse da.er
can be marketed at anything Ike the prices when pre-.
vailed before the recent drop III ther msfe, NauenH
there should he no difficulty IN doing TINS so nisuy s,
ttions OF various kinds arc seeking them 10Y investments
there viii be no dilcuty IN the lrn's reslhnS
OTHER SUSPENDED FIRMS.
Mr. Foote of Hatch ~ Foote said that his firm
were busily engaged in settling affairs They had
done great deal in this direction Many customers
had been settled with privately. He hoped 10 have
a statement ready in a few days.
MI Simpson, of Donnel, Lawson X Simpson, said
that the prospect of the firms resumption was ex-
cellent 1t depended on the lenleucy o. their GUS
TONER'S and from letters aud teegrams 80 Tar re-
ceiyed 1t was almost certain the concern would be
able TO 90 on Mr. Weems, the assignee, confirmed
the statement made by Mr. simpson