Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1884-05-16

Ing eeneralls expressed vas one Of con
ndence that the panic would be consid.
cred merely local, bat they xsre in a
position 70 occasion no failures IN Lon.
don, either inside or out xide the Stock
Exchange.
The remarkable decline in American
securities during the past few DAYS. az
tracted a nev class Of investors into the
market. who are stimulated also by III.
cneapness of money in England, Ger
many and France. A prominent banke,
said: 1T Ia amusing how little real
stock il being sold here. Ba..- he said
We bear sales are immense The
market shows a strong disposition 10
respond to anything favorable from
America.
he largest business on the street, in
single day, for years. was done tn
day. The Purchase of American stock
~ small investors, Is enormous. The
market il frm.
Advic-s from Frankfort and other
financial cente .. report great activity
IN Purchasing American securities.
GOVERNMENT ACTION.
WASHINGTON. May 15.-Bank Exam
1ner Schriba believes the crisis ia p4st.
ihe Secretary of the Treasury has tsle-
erapbsd the Assistant Treasurer at New
York as follows From this day to
june lst you are AUTHORIZED to paw the
bonds embraced ia the l25th, l26th and
Nth calls, With accrued interest, sub
Ject To the decision of the department
AS To the regularity of the assignments.
and the expresssge to the department
tn be paid. ~ heretofore, by the party
having the bonds redeemed"
AT BOSTON.
BosroN, May 15.-P. A. Hawley 4 Co.
bakers and brokers, have suspended.
They cannot give q statement of their
liabilities. bot state that their su-pen.
sion i due to failure to ascertain Just
where they stand. The amount due de-
positors is unknown. They hope to re-
snme. bat this is Rst probable. The
house rates at about 100000.
IHE OIL MARKET.
PrrTsBUBo. Msyl5 Petroleum opened
firm At IS, and u4der the impression
that the worst was over good buying
was inaugursied. which sent prices up
To %. when the annou ncement of the
failure of Fix d Il ,tch aud A. ".
Dino k caused = reaction. and a worse
panic than that of yesterday ensued.
Certificates were dumped on the M 4rket
IN large bundles, and prices dropp-d to
161S IN few moments amid the widest
txcitement- The news of the panic
spread rapidly. AND large crowds hocked
10 the Exchanges: but me milne the mar.
ket had touched bottom, aud prices
rallied aud closed at TX. The sales of
the day were enormous.
HILL, sTANwooD co.
Bosros. May 15.-Hill, Sherwood &
d Co., of New York, have sus
pended. The liabilities are 100000.
IL Is stated that the deposit accounts
Of Hawley q Co. are $4,000. Total
100000.
AN USFoUNDED REPORT.
KANSAS CRY, May I5.-There IS no
truth in the report of the suspension of
the Bank of Kansas City. The bank
ers OF the city met this morning and
agreed to pay 20 per cent cash to de-
posters and give certified checks for
the balance. Thi, agreement includes
all except the Farmers' Bank, which
btRtoh5 w pay dDilhf. nc
balance at the Clearing House will be
at p. ~, when plan of set
Element will be agreed upon. 1t il
thought the plan decided on in New
York will be adopted here.
FAILURE AT QUINCY.
QUINcY, ILL.,, May Il. = The Union
Bank of this city failed TO open its
doors this morning. When the Marine
Bank of New York failed, the Union
Bank transferred its account to the Me-
and the closing Of the doors
Of that bank yesterday is given RS the
cause of the suspension.
ACTION IN WASHINGTON.
WASHINGTON, May 4.-Hundreds of
kilograms from New York have been re-
ceived by members of Congress today
urging immediate legislation to relieve
The finaneial strain. The majority were
by Representatives. just be
fore the adjournment of the House
consent WAS asked by Spring
sr to pass the Diaglev bill. authorizing
the Secretary OF the Treasury to invest
10 bonds the lawful money deposited
by banks for the retirement of oircula-
i n Holman and Weller .bjected and
The House immediately adjourned.