Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1884-05-14
81 6
ANOTHER BLACK FRIDAY"

who soon announced their INABILITY 10 meet
their engagements.
Before 1915 a. NJ. Nelson Robinson & Co.
and. Calf & Randall announced their sus-
pension at the Stock Exchange.
There was drop in prices of TO 81 per
cent. as compared with yesterdays closing.
the downward movement being accelcral Ell
BY rumors that several bull pools were being
forced to liquidate As compared with last
night, Louisville and Nashville broke 81 to
35, Western Union 8: to 81, union Pacific
.: TO IS, Northern Pacific preferred 81 to
A., Pacific Mail 81 to 80, st. Paul y to Il,
Lackowanna j to Ill, Northwest i to
1861, Oregon Trans to II, Pullman Palace
Car to 1O4, and Canada Southern II to So.
Then there was rally of l to 4 per cent,
but before 1880 the market began to decline
again.
A Dyett s. Co. have issued the following
notice: "Wm. Heath & Co. will settle
with members of the Stock Exchange for
stocks bought, sold, borrowed or loaned by
lis previous to this date"
O. NJ. Bogert & Co., have announced their
suspension to the Stock Exchange.
The chairman Of the Stock Exchange has
just announced from the rostrum that the
Second National Bank is solvent, and worthy
of confidence.
Messrs. Nelson Robinson & Co, announce
that all active stocks carried by them were
sold yesterday at good prices, and people
carrying them in loans need not be alarmed
as they will show their books proving that
money is obtainable for them.
J. C. Williams, broker, says in reference
to reports that he has suspended, that be
will make the announcement later in the
day. Several stocks were bought in under
the rule to day for his account.
The New York Clearing House has re-
ceived the following from National Bank
Examiner Schriba: After an investigation
of the Second National Bank, find it in an
absolutely sound condition.
Hatch & Foote have announced their sus
pension at the Stock Exchange.
The Share market is ragged, some stocks
showing sharp recovery while others are
at the lowest prices for the day. The fail
urer have stopped for the moment, but the
air is thick with rumors of further suspen-
sions. Few know precisely where they
stand and the situation is strained.
o. NJ. Bogert 4 Co. have assigned to John
Wheeler; preferences $4,000.
Wall street is one mass OF people from
Trinity Church to the Custom House, both
sidewalks and carriage ways being impassa-
BILE. At the doors of the suspended houses
the masses of humanity are denser, and
many disconsolate faces gaze on the closed
doors.
All stocks guaranteed by Nelson Robin
son & Co. are good delivery.
Secretary of the Treasury Folgcr is in
town and has tclegraphed to Washington
ordering the Immediate payment Of the
127th call for bonds. If necessary be will
order another call for $l0GOO,000.
The failure of Hatch & Foote was pre-
cipitated on account of the PheniN Bank
refusing to certify the firms checks.
The financial complications Of the past
week, supplemented by the revelations re-
garding the management Of the Second Ma
tioual Bank, which resulted in the resigna-
ton of the President, has brought about
such feeling Of uncertainty in the tinan-
bat nj l,Itlt
ness on the Stock Exchange this morning
it was felt that disaster WAS imminent. Be-
fore long one failure after another was an
nounced, until FIVE stock firms had au-
nounccd their suspension and the Metro
politan National Bank had closed It's doors.
Its President, George |. Scney, has been
one of the most prominent spectators on
the Exchange and was rated high in the
commercial world. The failure of Hatch Il
Foote is likely TO involve some country
firms Us they held accounts of many pri-
vate bankers outside of New York, as well
as of individuals in the West and South.
The metropolitan Bank was $4,000
debtor at the clearing house this morning.
The president of the metropolitan Bank
was partner in the firm of Nelson Robin
son & Co. Seney's sons are also partners.
In last weeks statement to the clearing
house the metropolitan Bank figured the
following items: Loans si0,977 900, specie
s1,779,000 legal tenders S49l 900, deposits
SS,425,000.
o. NJ. Bogcrt & Co.'S. failure is considered
most important, as they have been large
dealers in commercial paper. They dealt
somewhat in privileges and were considered
a solid house.
President Baldwin, ofthe Fourth National
Bank, says that every thing is quiet at his
bank and the usual routine Of business is
being pursued. All rumors affecting it are
without foundation.
Every thing is quiet and serene at the
Pnenix Bank. AN officer says that there is