Morning journal and courier., 1884-05-15

ally tight and the greatest difficulty was ex-
perienced in raising money upon good low
priced securities. The directors Of the Met
ropolitan bank remained IN session until
late hour with the view of preparing q state
ment of the banks condition. Il was stated
that If the bank can make anything like a
favorable statement the clearing house will
come to its aid and the bank resume business
in the morning
A PROMINENT DIRECTOR OF THE METROPOLITAN
says that the depositors will be paid in full
The directors went through their securities
to-day and after throwing out all that could
be called doubtful they had more than enough
left to cover the amount Of deposits. This
gentleman attributes the suspension solely to
the fact that depositors throughout the
country have become alarmed by the
reports of Mr.. Sevsy's bsiag largely
engaged in speculative enterprises and have
drawn out their deposits. In this connec-
ton it is interesting to note that last Satur-
days Sun editorially called attention to the
to be engaged in founding q new manufac-
turing town in Alabama, and after compsr-
ing this venture with Mr.. Fish's real estate
operations and the Grant and Ward troubles
concluded with the question: IF
it was wrong for Mr.. Fish to VEN
ture into such speculation is it right for Mr..
Seney?" To this President Seney replied (:
Referring to your editorial on my supposed
relations to the so-called Seney syndicate for
building q new city in Alabama, I beg to say
that have nothing Whatever. directly or in
directly, to do with that enterprise, and the |
use of my name to designate it has no war
rant in fact. I beg further to say that am |
not engaged In managing or controlling any
speculative enterprises whatever" |
THE CAREER OF PRESIDENT sENEY.
Mr.. George I. Seney, president of the Me- |
trepelitan National bank. was born at Asto-
ria, L. l., on May u, 1926, where
his father was q leading Methodist |
guisbed; his paternal great grsndfather |
was the first Commodore of the United States |
Navy, James Nicholson, and his paternal |
grandfather was member of the First |
Federal Congress. Mr.. Seney studied |
at Wesleyan university, Middletown,
Conn, and also at the University Of
the City of New York, where he was |
graduated in 1s47. He Immediately entered |
business, and at once became paying teller |
of the Metropolitan National bank, of
which he became president. His business ca.
reer was very successful, and he soon be- |
came noted for his iberality in giving to |
public institutions The following is list |
To Wesleyan university. Middletown, Conn,
$550,OO to literary institutions In |
Georgia, 1926 to the Long Is |
land Historical society, 100000; to |
Seney Hospital in Brooklyn, to cost $500 |
600; the Industrial School for Homeless |
Children, Brooklyn, $26, 900; the Brooklyn |
Eye and Ear Infirmsry, $25, 900; and the |
Brooklyn Library, $4,000. The requests |
make in the aggregate ST., 485, 900.
BROOKLYN sHMPATHIzEs WITH PRESIDENT |
sENEY. |
The announcement of President Seney's |
financial embarrassment caused much surprise
and regret in Brooklyn where he Is regar ded
with esteem and with much gratitude on &C.
count of his gifts to public institutions and
charities, amounting it is said to over a mil
lion. The subsequent closing of the Atlantic
State bank of Brooklyn, in which Seney was
a leading director, intensified the excitement
caused by the New York failures. The
suspension of the bank was SO
sudden and unexpected that the depositors
had no opportunity to begin run
before the doors were shut almost in the
the ordinary course of business. When the
run on the Metropolitan bank began this
morning, the Atlantic bank in response to a
request sent over all the available cash on
hand, being unsnspicious that serious trou
BILE was in store They consequently had
NOTHING LEFT WITH WHICH TO PAT
their own depositors. The directors, how
ever, say the bank is in good shape and will
pay all liabilities as soon as they can realize
Brooklyn all claim to be entirely unaffected
by to-days failures
Still Another Bank suspends
WORCESTER, May 1.-THE banking firm
of Rice & Whiting has suspended payment
temporarily on account of the failure of the
North western Manufacturing and Gar
company of Saltwater. MINI. The frm
has been dealing in this stock for
the last two years and q considerable
amount estimated at $780, 900 was held by
some of the most conservative people in this
city. The banking firm is embarrassed to
the amount of $780, OOO The City National
bank is also somewhat afflicted and many of
the prominent business houses.
Another Savings Bank Goes Down.
ST. JOSEPH, No., May 14.-The State Saw
ings bank of this city closed its doors this
afternoon on receipt of a telegram snnounc-
ing the failure of Donnell, Lawson d Co of
New York, and an assignment made in favor
of James M. Wilson. The last statement
made by the bank showed deposits of ST.
700, 600. The excitement consequent upon
this collapse was augmented by the failure
of the DR.. S. A. Richmond Medical company,
with liabilities of $3.50, 900 and unknown
assets. OF the liabilities 800, 600 ia due on
advertising In country papers.
The News in London.
LONDON, May 1.-The failures in New
York to-day have created intense excitement
among Am orleans here. Mr.. Lawson, of the
suspended firm of Donnell, La wson & Simp-
son, first heard of the failure of his house TO-.
night while attending Mr.. Henry Williams
reception at Princess Hill, Piccadilly. Sew
eral American capitalists who were presen Mt