The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1884-05-22


alsp, ~, -ashsg I, hag ioioios 81 ! W.
ae, m'-'ffs sonf Of tho siafs efthsnfs
has Inst Sounded, AID one M ihe mnft "a
elung days IN ne history u ihe' Institution
has olnnfd
iiisrporisd ihst Dfsse', Nofstn q 90
had 81 Out.l IN the Metropolitan ta1ks
A membrtOi the firm dtnits ihis, 'aylnn
they he'd viihdfasn their large account
with tina, hank two years $50
Annihsr ffpltt n that tue Allinilo Mu'
tuhl iurufhuC. company deposittd ~ Oul -
600 iu the Phoenix Ntiinnsl bsuk ihls
morning.
Secretary Fllgof ssys the hfeak IL due 10
reckless speculation BY lew men,
ami be will dl Everything
In his power 10 prevent stfuEenuy
He stated there Vi' plenty oi money IN the
county, aud does not Anticipate any ek'
leusiye panic. The situation T. not ~ we,k
rs l. pisainls 20 suppose. Hs thall DO
everything Ia HE power % restore e,ul,
dencE. A telegram from rWsniy'ihiTd
street rapuf,s TIA, depohit0Fs we're demand
ins money At tse AsooEd National bank,
aud feared the bank would stop, At the
Pkmnix bank everything Is quiet, and tho
officers soy there Ia not the alightest trouble,
ana DO ran. Presileut Bald sin, OF the
Fourth National, says his bank Ia AL right,
not caused by toe refusal Of the Phmnix
bank to certify checks, bnt caused wholly
bv thu exhaustion OF margins. the refusal
OF customers 10 renew them ard their ina
bility 10 sell stocks without undue sacrifice.
The Post ssyt: "At twenty minutes alter
II o'clock u long line OF men aod boys stood
Ia front Of the paying tsller's window In the
Metropolitan bank at Broadway aud Pine
street, OF which George j. Srnuy Is pre- J.
dent, and every person in line held one or
more checks 10 ba certified. Alarming ru'
m0rs ms t. the failures m every dirfction
haying been made. tho uucerliiied checks
were OF no value, no matter by whom sign
ed. Just At that moment his paying teller
shut hrs window Ia the bank aud annouuc-
ed that the Metropolitan bank had supend-
ed payment as a matter OF necessity tbd
protection. A howl OF dlsmay went up from
inc line OF men and q bresR was made for
The door, where n numbFr u depusitofs
were hurryipg in to get u denis! OF the ru.
mored suspension. In lees than i've min.
utes the iron doors were shut end pS 10 :
/ men arrived 10 stand guard on the step"
Toe iirst story told large depositors, VIII
arrived breelnless and indignant wss tbe'
the suspension was oFderid by Seney In
order to prevent q run, for which the bank
might not be prepared. II was said by Mr.
SeDey that III matters Quoted down this
afternoon the bank might open on time Tor
some business to he done today. This prom
iss was accepted BY group OF deposi.ots
es OF small comfort. and after IL O'Clock
O crowd OF nearly 100 people gathered la
front Of the bank, besGiliDg the prosDec. OF
the loss OF deposits, Two women, who bad
draft upon tue babk, were In tears upon
the bottom steps. Among the depositors
who appeared 10 know any thing about the
suspension II was said the immediate csuse
was demand for more than hall million
by the clearinghouse to make good its &c.
count on .he railroad specuiations oil Presi-
of the suspension was Mr.. Seney is presi-
dent Of the East Tennessee d Virginia rail.
road, stock, which is selling 10 day at for
common and 0 for ,relerred, large blocks
OF this stock were bought iets than year
ago, It js supposed, for account o! Seney, at
IL to IL for common, and 81 for preferred.
The etc ok has been sinking ever since. not
withs' AIDING constant support. From
what is known OF the Seney syndicate, the
of Seney's iavoIito stocks, upon which
large sums we're lost in su.tsining the
stock. The first rumors OF Seney's diff.
culties came soon after the announcer emit
of the failure of Nelson Robinson, rs Robin.
son Is son-in.law Of Serey. and one Of
Seney's sons is a member Of the firm OF
Nelson, Robinson & Co. 1t is eupposed
20 under had he not been badly crippled
himself. At the office OF Nelson,
RobinAon & Co., Nelson Robinson said the
failure was occasioned by cslls for money
!. ON all quarters which could not be i'm.
mediotely met by the general shrinksgs OF
securities, the disturbed condition Of the
times and the circulation of disquietiDg
ment Of the liabilities and assets. Most
Of their loans are well protected.
NEW York, May 14.-The Tribune states
that Jay Gould, president, aud Sidney Dill
Ion, OF the executive committee, deny the
movement to place the Wabash temporarily
In the hands OF receiver. Senator 6ebin,
who left last night for st. Paul, esys that
with the assets o. three times the liabilities
robody will suffer from the Northwestern
company's failure. The loss for one sus.
pension will be light, II anything. Tele.
grams from st. Paul state that affairs are
even better than anticipated.
The Atlantic State bank. Of Brooklyn,
closed doors this afternoon. This bank "a
the Brooklyn correspondent OF the Metro
politan bank. Capital, $500, GOO; surplus,
500 COO. President, George s. Puffer.
Donnell, Lawson & Simpson, have an.
nounced their suspension. They are leree
dealers in county, water and city bonds.
They are said to have $4,000 600 with the
suspended Metropolitan bank. The firm
says: lowing to the general panic prevail
ing, we deem 1t best to suspend until we
can see where we stand"
At the Second National bank many e1-
citing scenes were witnessed, but in all
cases payments were made as fast as the
time 300 depositors were In line, while
Amos r. Emo, a millionaire. stood by
smilingly assuring all they should receive
every mt of their dues.
It Is stated that Secretary Folger was in
vited to o ting at tie clearing house,
and the result OF their conference was
awaited with much interest.
Drexel, Morgan & Co. have received word
from Philadelphia hous, that they have
all the money wanted. Rumo,s affe sting
several national banks continue fving
about the streets, but none were traced to
q reliable source.
Additional notices posted on the Metro
politan bank saws: "The drafts of Holmes
& Sons, Pittsburg, will be paid by the
Bank Of America; drafts from the City
bank, of Rochester, and Marshall, Field &
Co., Of Chicago, by the Bank OF Commences;
drafts Of the Bank OF Attica, Buffalo, by the
Hanover bank"
Hotcbkiss q Burnahm say: 1--WE were
forcsd to suspend this morning In conse-
quepce of the calling in Of number ofloans
from persons whom we thought were respon.
sible, who failed to respond, and in the present
state Of the market We thought 1t best to
close at once before matters got any worse,
and see where We stood. It Is probable the
suspension will only be temporary. That is,
We hope 80. Our assets exceed our
liabilities by . large amount, and II
we can ind any market for .our
securities, and are able to collect
money due our firm, there will be
no trouble about resuming. We have
sold o large amount OF stock Of
great sacrifice and have about cleared
up such outside contracts, and our
cnntraoka with the board will be