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

VI.
chose to. At 245 p. M, Fisk q Hatch
suspended. There was a slight run on
the Blocker street sayings bank to-day
which subsidized at noon. AT The Second
National bank there is no excitement. G..
S. Mott, general manager OF the Bankers
and Merchants Telegraph Company says
not involve that company.
FISK & HATCH SUSPENDED.
Stock markets were firm this afternoon
until Just before the close OF business, when
the suspension of Fisk & Hatch was an
nounced and prices broke 10 3. and the
market closed weak, although some shares
showed evidences of strong support. The
firm of Fisk & Hatch is composed OF A. s.
Hatch and Harvey Fisk. Hatch, was re-
Gently elected president of the Stock Ex-
change by q unanimous vote. The firm
have been the heaviest dealers in govern
ment bonds on the street and considered
very staunch conservative and reliable
firm. They have been recognized as the
fiscal agents of the Chesapeake and Ohio
railroad and Elizsbethtown, Big Sandy
and Lexington road and have carried
heavy smounls of the stocks of these roads
while the market was declining. They
have sons and sons-in-law In the stock
business. The announcement of their sus-
pension,
CAME LIKE A THUNDERBoLT
on Exchange. VIM. Lummis is now acting
as president of the exchsnge owing TO the
disability OF Hatch. 1t is surmised that
the efforts TO aid his sons embarrassed firm.
Hatch has been prominent in religious
matters and philsntbropical measures and
frequently heard as lecturer on religious
subjects.
Fisk has Just returned from tour TO
Europe. The immediate result of their
fsilure on the Stock Exchange was de-
cline of from one To five points. The weak
ness of the government bond market is ex-
planned by the suspension of this firm. IL
went TO the wall during the panic OF 1878,
but resumed soon after. Their suspension
was not announced until a few minutes be-
fore 5 o'clock, the closing hour of the Ex-
change, but the effect was an instantaneous
suspension.
On the announcement OF
THE FAILURE,
operators rusedh 10 the office of the failed
firm and anxious inquiries were made by
brokers as TO how the firm stood.
Fisk was seen by an Associated Press
representative, but refused TO say anything
The doors were closed and the crowd out
side increased. The suspension was not so
unex pected, but its effect more than doub-
led, and the street is again excited, and
brokers are rushing around wildly and the
situation sgain assumes a troubled aspect
The supreme court granted an order
giving the Chicago & Atlsntic Railway
company leave TO prosecute action
against Receiver ]. L. Davis jointly with
other parties as the company may be adj
vised, for the purpose of obtaining the
relief TO which il was entitled relating TO
national or other securities heretofore
belonging TO the railway company, and
held end negotiated or otherwise disposed
of by the firm of Grant & Ward. The
company alleges that in September 1888 il
delivered 10 the formers Loan and Trust
company, of This city, and
George K. Bippus, of Huntington, Ind,
as trustees, a mortgage on its road TO secure
the issue of COUPON bonds of corporation to
the amount of $1,000, OK o. known as secured
mortgage bonds. In the autumn OF last
year the negotiation took place between the
company and Grant & Ward for the nego-
tiation OF these bonds. 1t is charged upon
the Information
THAT GRANT WARD
in violation of the agreement have separat-
ed and divided the notes and land into par
GELS, mixing them with other securities,
and used miscellaneous lots in raising
money for their own purposes. There was
a slight run this morning on the Irish En-
igrant against the bank of Chambers street
two hundred of the deposiiors withdrew
their scconnts. There are 1856 deposit
tors. The president says be thinks they
will gain about $4,000 by the Withdrawals.
Late this afternoon
wN. II. SWEENEY,
q banker on Nashua street, made an as
Segment. The amount involved is not
large but may emhsrrass small manuiact-
urers in the neighborhood of Nashua and
Union street. This house suspended about
u year ago.
From the Tribune Of Friday. The state
ments of the members OF Donneli, Lawson &
Simpson Wednesday that their suspension
was due wholly to the suspension OF the Met
ropolitan National bank were not confirmed
Yesterday. The Metropolitan having re-
sumed similar action on the part of the
banking firm was anxiously waited for
and toward the close of banking hours, it
began to be whispered around that
THEIR FAILURE WOULD BE TOTAL.
The bonds of the Cleveland, Youngs-
town & Pittsburg railway company we're
mentioned as q matter in which they had
been most crippled. This was the security
over which the Bank Of the Republic di-
rectors had a difference about a month
ago, which resulted in President Ford's
resignatioa. The Bank of the Republic
was one of the two banks with which DON
nell, Lawson & Simpson did business,
Simpson being q director in it 1t was
also said Seney had unloaded g lot of
these bonds on the firm. and that their de-
pendence on the Metropolitan was such
they could not refuse to be thus used. At
the firms Office, on the second floor No.
102 Broadway,