Morning journal and courier. [volume] (New Haven [Conn.]) 1848-1894, 1884-05-16

purpose Of obtaining such relief as il is emit.
tied to relating to notes and other securities
belonging to the company held or disposed
of by Grant d Ward.
AN oFFIoER OF THE METROPOLITAN BANK
told reporter this afternoon that S1s5, 600
was paid out during the day. The deposits
amounted to 1864, 600 and checks for $454,
600 were certified. Il is estimated that by
settling his privileges on the basis of to-day's
prices Russell Sage would lose from $500. 600
to 81, 600, 900.
FAILURE OF SMALL BRoKER
W. 81. Sweeney, small banker at 1o4
Nassau street, assigned to-day to A. @. Au-
brey. The failure is insignificant.
RUN ON THE BROOKLYN BANKs.
There was run on the South Brooklyn
Savings bank to-day. The dspositors are
mostly poor and ignorant people who were
misled, as the bank 10 on Atlantic avenue,
into supposing It was the Atlantic bank
which suspended yesterday. The demands
were promptly met Father Francoli, Of
st. Peters Catholic church. TO which most Of
the depositors belong, vent to the bank and
addressed the crowd, begging them to go
home and not lose six months interest by
drawing out their money. He said he would
personally vouch for the soundnsss of the
bank. His remarks, however, were not heed
ed by the excited crowd Up to the closing
of business 1925, 600 had been paid out The
cashier says there is q surplus Of $780, 600
and all applicants will be paid in full. The
Brooklyn Savings bank was also run upon
and paid out $50, 600. The officers count
their gain of Sc, 600 in interest. Nearly all
the other savings banks in Brooklyn sus-
tanned slight runs.
Another Bank Shuts Its Doors.
st. LOUIS, May 15.-The Bank Of Kansas
City closed its doors this morning. It had a
capital of $500. 900 and was the last to close
in the great panic of 1873. President Chick
states that the suspension is due to the fail
ure of Donnell, Lawson & Simpson. their
New York correspondents. The bank had q
surplus of $1O6, 6S8. After a meeting of the di-
rectors it was announced that the bank would
pay twenty per cent. cash and the rest in
certified checks. The amount of deposits is
figured at $2,O0O,O0O.
Bank I'm Illinois Goes Down.
QUINCY, ILL.,, May 15r-The Union bank of
this city failed to open its doors this morn
ing. When the Marine bank of New York
failed the Union transferred its accounts to
the Metropolitan, and the closing of that
bank yesterday is given as the cause of the
suspension
Comments of the LOndOa Press.
LONDON, may l0--l1e DAILY Telegraph
this morning regards the financial situation
in New York with cheerfulness and says
everything will be Strengthened out in the
course of few weeks. 1t praises Secretary
Folger's action.
The Times and the News think it doubtful
that the crisis Is yet reached in the New
York panic. They do not think, however,
that the panic will be as disastrous as that OF
1873.
Ward Tells About ais Business Methods
New YORK, May 15-The examination OF
Ferdinand L. Ward was continued before
Referee Cole to-day. Mr.. Ward admitted
that he never had any government contracts.
yet had given out that impression to the
people he was dealing with. The examination
also developed the fact that two ledgers were
kept by the firm of Grant & Ward, the
entries in the one being at considerable
variance with those in the other. The
testimony of the bookkeeper of Grant &
Ward sho we'd that two weeks before the fail
ure Mr.. Spicer deposited with the firm $685..
900 in Colorado bonds and that on the day OF
the failure Mr.. Ward declared that the bonds
we're only deposited for safe keeping and not
as security for Spicer's account, and they
were Withdrawn from the assets of the firm.
The examination will be resumed to morrow