The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1884-05-15

no need for the suspension, as asso
ciated banks would undoubtedly
have come to its assistance and
helped it over the crisis.
Settlements for the day have al
been made.
Hotchkiss g. Burnham have sus-
pended, Hatch s. Foote made an as
Segment, and Foote made an as
signment to Henry w. Reighley,
without preferences. RumOrs that
the Metropolitan Bank was indebted
to Donnell, Lawson s. Simpson were
untrue. The fact is the firm owe:
the bank 100000, but has securities
pledged for more than that. Money
is now loaning at per cent. per
diem.
Philadelphia, 1.-THE suspension
OF Charles NJ. Bsyard, stock broker,
IS announced. Liabilities not heavy.
Boston, 14.-The Bank Of Boston,
acting as correspondent Of the sos
pended Metropolitan Bank, New
York, was visited with the view to
sscertaining the amount of balance
between them, and the Metropolis
tan; in each case officers stated that
the balance was small and they
were in nOwise affected.
Washington, IA - Comptroller
Cannon now says nothing more will
be given by him concerning the af-
fairs Of the Marine National Bank,
New York.
The Secretary of the Treasury an
nounces that the departmr mt is pre-
pared to redeem the bonds en-
bracad in the one hundred and
twenty-seventh call prior to the date
OF maturity, June goth, 1884, with
interest to date of presentation.
Condition Of the treasury to-day:
Gold and bullion. Sl96, 143, 551; silver
dollars and bullion, $l36,271, 1872;
fractional silver, S29, POI, 674; United
States notes, 1856, 1905, 1851; total, $685..
310,918. Certificates outstanding:
gold, S60.s64 $50; silver, 500 GIG, 511;
currency, $15, zoe, 1000.
The comptroller of the currency
early this morning telegraphed
bank examiner Serbia in New
York to go to the Second
National bank and inves igate the
minors of the trouble. and received
in reply the following telegram
from Serbia: GA run on the Second
National Bank. Have secured q I
guarantee for all deficiency, and
money will be supplied the bank
until the run csases. The CAPT al
is intact, with small surplus. Par
by mail" The comptroller
subsequently received a D iYate
telegram saying: "The MetropoIi.
tan National bank closed its doors,
and there Is great excitement in
New York, but no general panic"
He thereupon teIegraphed Serbia to
go to the Metropolitan National
bank. He replied as follows: "Me-
bank has CLOSED it's doors.
have taken charge and await in
structions.' The comptroller In.
structed Serbia to remain in charge.
In reference to the condition of the II
banks of the country at large, the
says:
Refused certificatiou ty the Contis
lentai Bank. The firm, it was said,
vas affected by the inability of the
bank official in question to live up s
20 his contracts. At the Continental {
Bank it was stated before business,
% dsy, that A. Dyett & Co.'s con- &
racts would be taken care of by t
Vim. Heath & Co. This was subse t
luently corroborsted by officisl Doti- |
16ation to the Sock Exchange. |
Vm. Heath & Co. would settle with c
of the ExchsHge for all C
tocks, stocks bought CT solj, bor- q
owed or loaned previously 20 this e
late. Alter the opening Of the v
,oard, the suspension Of Nelson t
Robinson & Co., G1ff s. Randall, O. b
n. Bogart & Co., &C Williams aud q
latch & FOote were read from the f
ostrum OF the Exchange, and under v
harp pressure to cell prices broke a
to IL per cent, the decline being e
celebrated by lquidalons and by f
ales of 1000 shares under the rule Il
or account of suspended firms. a
he decline was subsequently C
hecked by the action of Secretary II
'olger in ordering the prepayment d
f the 127th call for 81 100000 Il
onds. The Secretary also ex- e
ressed himself willing to do every "
hing in bis power to prevent strin-
ency In the money market, and if
ecessary he would issue q call for
1 100000.
The tumble in stocks in New f.
'ork to-day caused quite a panic d
mong Congressman. Many of them o
re personally interested in stocks q
ome carrying large lots and others a
aking small ventures frequently. n
here is constant run of members r
rom the floor Of the House to the q
tile telegraph Office in the lobby
here the latest quotations are bull g.
'tined and good many long faces ,
re observed among those return
lg. f.,
Chicago, 14.-There has probably d
eyer been time in the history of A
hicsgo, whsn reports were more a
1dustriOusly circulated with the r,
lew to breaking the grain markets, a
nan at present, but they stood the II
rain upon them without wsvering. d
interviews with every leading "
anker in the city tend to the view
lat the New York panic can have
0 lasting effect here. 1t is con-
ended that the banks which have