The Sedalia weekly bazoo. [volume] (Sedalia, Mo.) 187?-1904, 1884-05-20


upon?"
No. sir, nothing of that kind has been or
will be done now. We shall not make an
assignment unless satisfied we cannot go on
or settle our business satisfactorily without
itn
"What are your liabilities"
ave csnnot tell exactly, in the neigh
borhood of $3,000,O00"
How much are your assets WORTH"
"They will be more than that. we
shall paw every dollar, | now think"
els there any truth in the rumor that
Sen-y unloaded Cleveland, Youngstown
and Pi;tsburg bonds on you?"
"Not q word of truth. President Seney
has unloaded nothing on us at any time"
"What has been the character OF your
securities?"
"Th.y have been such as would COM
mend themselves to the conservative judg-
ment. The greatest shrinkage in their value
has been in some railroad bonds upon
which we made advances"
cleveland, Youngstown Pittsburg?
"These and some Others"
"How much was your deposit in the
Metropolitan
at was a good deal larger than We could
| have wished
Can you not resume now that the Metrop-
olitan has done so?
That is what we are trying to find out
We shall know to-morrow.
Ii is understood that you have been OF
fered 100000 to- help you out
Yes, ). Il. Elkins offered that but that
would have been drop in the bucket; we
were offered several hundred thousand dol
| lars by cable, but We must see where We
stand first.
An attache Of the firm told the reporter
that matters had gone so far that resump-
ton would be impossible; the 100000 OF
fered by S. b. Eikins was made in good
faith, and may lead To the re-sstabiishment
of the concern under a new name. The
members of the firm are
MIssUURIANs.
Robert w. Donnell, the head of the con-
Germ, was formerly merchant OF st. Jo-
seph, where he is u large stakeholder In
in the Savings bank He is also a part
ner in the banking firm of DonnelI, Clark
& Lsrabie, of Deer Lodge, Montsna, the
second member of which is a millionaire.
Lawson and Donnell married sisters. The
former was lawyer at BOonville, Mo. He
is member of the Union League and
Manhattan Club Simpson lives in Orange,
n. j. He formerly resided in Kansas
City.
THE LOANS OF THE HOUSE
were all passed upon by him. The bank
ing house was besieged all day with mes
sengers and clerks copying notices and
persons calling to have signatures identi-
ned.
Hotchkiss, of the firm of
HoTCHKIss, BURNAM & COMPANY
say that they would resume. 1t was only
question OF time. They were hard at
work Strengthening out their affairs and
had get sufficiently far to prove they
could pay overy dollar they owed the office
of D. NJ. Bogart & company remained
cleared. Yesterday the assignee began TO
his examination into the condition of
affairs. but late In the afternoon he was not
able TO give any information
settlements of balances at the clearing
house between associated banks were &C
complished without trouble. The Metro
poliIan bank received an issue of about
81 ,000, 600 on loan certificates. The Sec
ond National bank applied for S6,0O0,O00
the total amount issued to FIVE banks is
S. 100000. VIM. A. Camp,
MANvGER OF THE CLEARING HOUSE
spoke encouragingly of the situation. With
regard to particulars of the failure of Fisk
& Hatch he said: 81 am certain it can in
no way affect the banks" The Second
National bank opened its doors and began
TO pay checks yesterday morning. During
the day there were many deposits, the total
of these being larger than that paid out.
The assignee of A. w Dimmick d c., says
their liabilities are large but he expected
the firm to resume. Soon after O'clock
the feeling was general that the day would
pass
WITHOUT ANY FURTHER DISASTERS,
and when at 2:40 il was announced that
Fisk & Aateh were unable to meet their
obligations. there was great surprise
and much sorrow. No explanation of the
failure was given. The firm has sus-
pended payment" was the answer given to
the avalanche of questions. For more
than an hour Nassau street in front Of the
banking house was almost impossible. Fisk
& Hatch handed tn following notice TO an
Associated Press representatives.
TO OUR DEPosIToRs.
and other creditors. 1t is with great sor-
row we are obliged to announce
to you our suspension, which has
been brought about by combination of
circumstances, the long continued decline
in the market price of securities, even the
very best, accompanied by general weak
ening of confidence in financial matters, to-
gether with heavy drainage tf deposits,
are the principal causes Of our unfortunate
position. We can only request those hav-
ing claims against US to extend to Us such
consideration and indulgence as we may
need and il may be in their power to grant.
lSigned. FISK & HATCH.
WIN. LUhMIs,
who has become acting president of the
Stock Exchange through the failure of
Fisk & Hatch, said the failure will have
,,,unh Iooa effect iy, tho atraaf than ;o ,ax,