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

5 Jas. l.. Wilson, assignee of the st. Jo
: savings bank, which closed yesterda,
i has taken charge, AMI will inyestigai
4 the condition of affairs at once.
t MATTERS AT BOSTON.
e BOSTON, MASS, May 15.-uiu. Stan
(, wood 81 Co., brokers and correspou
dents of Golf, Randall 81 Co, New
, York, suspended. Liabilities, $1,000
The failure is of no consequence. |
| is now stated that the deposit accoun
OF Hawley 81 Co. is S250,O00; total liza
bllIties, $4,000. There are rumor
| OF the firm specializing.
KANSAS CITY AGITATION,
KANSAS CITY. Mo-, May 15.-Thert
Is no ruth in the report of the sus
pension of the Bank of Kansas City
The bankers of the city met this
morning. and agreed to pay twenty
per cent. cash to depoSitors, and give
certified checks for the balance. This
agreement includes all except Ar,
mour's bank, which prefers to paw
I.uoilar for dollar. The balances at the
clearing house will be announced this
afternoon, when plan of settlement
VIII be agreed upon. 1t is thought
tN9 plan in New York will be agreed
N here. There was some excite
hGnt TINS morning, but this materially
subsidized at noon.
NEW YORK, May I5.-There was a
much better feeling in the stock ex-
change circles early in the day. due to
the action of the Clearing house. and
10 the resumption of the Metropolitan
Dank. Shortly after opening, a slight
Y weaker feeling prevailed, owing to
the announcement of the failure of A.
w. DImmock 81 Co. This was
succeeded by strong buying for
foreign and home account. and there
was general Improvement. Can
adam Pacific rose to Al: Central
Fac. "a to 424; G. B. & O., IL to
ll6; Northwestern, to 1857, prefer
red 515 to 1907; LackaWanna. 8 to
lib; Lake Shore, 23s to 9215: Mo. Pac
| "a to 70; Kans. & Tex, Ia to 49,:
n. Y. Cent, 24 to 11OI; Northern
Fac. preferred 81 to 40: Oregon
Trans, Pa to 24155; Pac. Mail. 5 to
~; Omaha preferred 6 to 80; Texas
Fac, 138 to II; Union Pac., 3 to A:
Western Union, 34 to 5411. At the
clearing house new certificates were
ready for delivery at an early hour.
and the banks awaited themselves to
extend $47,0O0,OOO. The resumption
OF the Merchants Bank also
had a favorable effect, as it set
at rest the rumors that the
suspension was of the Marine Bank
character. Buying for European ac-
count was an special feature of the
market, and every house with foreign
connections had liberal orders to pur
chase. at times during the day when
the market tagged, these purchases
turned the course of speculation. The
extent of this foreign buying move
ment Is plainly shown by the foreign
exchanges. There was larger SUP
ply of bills than for long time. and
the pressure to sell caused a sharp de-
cline i'll the high rates of money at
(this centre. Foreign capital. and
leading English and German
institutions, telegraphed their agents
here to draw for any amount.
Buying stocks for home account was
also very large, brokers offices being
crowded with investors. This is usu-
ally The c.Se alter disturbance like
the past few days. Stocks so bought.
it should be understood, are paid in
full. This operation, aside from re-
duclng the amount Of stocks to be
carried on the street, brings in so much
fresh capital to aid the money market.
Investment purchases, therefore, nat
urally had an important influence in
the direction of Improvement lust
before the close of the suspension
of Fisk s. Hatch was announced, and
there was evidence of strong SUD-
port in the final dealings, and. com
pared with last nights, the closing
prices were five per cent higher.
Donnell, Lawson 81 Simpson have
over four hundred banks for whom
they transacted New York business.
scattered through Georgia, Florida,
Texas, Missouri, Kansas, Arkansas.
Nebraska, Iowa, Colorado, Utah and
other territories, and over one
hundred bulletins were posted on the
door. Inside, Donnell and Simpson
were busy all day trying to see where
they stand. Lawson is in Europe.
70 a Tribune reporter Simpson
said: 1--WE are still figuring up
and trying to get to point
where we can resume. We can't tell
you anything until about tomorrow
afternoon. There is a prospect we
will resume. That Is the point
towards which our arrangements are
tending"
elias an assignee or receiver been
decided 2"
mo, sir; nothing Of that kind has
been or will be done, now. We shall
not make an assignment unless Salts
lied that we cannot go on or settle our
business satisfactorily without it,"
A RUN ON A BANK.
BRIDGEPORT, CONN, May 15.-The
raid on the banking house of Watson
& Co. was resumed this morning,
but the excitement subsidized by 10
o'clock.
KANSAS CITY, May 15.-The slight
furry of this morning disappeared
this afternoon. A large number of
deposits were drawn out this morn
ing, but nearly all small amounts, the
larger depositors appearing confident
That the scare was artificial, and the
concerted action of the banks. cou-
pied with the encouraging eastern adj
vices brought about an early reaction,
and the excitement gradually subsid-
ed. The report which got abroad that
the bank of Kansas City was involved
OOSiho w hctfO Ol1SlldGCu Ill Ull0 I'LL
preston that the bank had large ac-
count with Donnell, Lawson & Simp-
son. Their books show they had
only 500, 900 with the New York firm,
a comparatively small amount. The
feeling now Is that all occasion for
apprehension Of serious trouble Is
over.
WALL STREET, 1910 P. M.-Com-
parative quiet reigns on the stock ex-
change, and it is more apparent every
moment that the crisis is past.
The suspension Of Hawley & Co.,
OF Boston, was caused by run on
the banking department of the house
of Beliene. 1t will be temporary.
BOSTON, May 15.-F. S. Hawley &
Co., bankers and brokers, have sus-
pended and cannot give statement
of their liabilities. They state that
their failute is due to the fail
ure to ascertain just where
they stand. They have been doing
business as bank depositors and the
amount due depositors is unknown.
The house was rated at 100000.
1t was stated the Bank of Commerce
was this morning a debtor to the
Clearing house $4,000.
Examiner Scribas' work has been
discontinued, and the official advices
in general continue reaSsuring.
The Commercial says the general
| subject of discussion was the remarka-
| bic position assumed by President
Seney and the directors of the Metro
L. 4 !, 10 l.