Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1884-05-17
A REST
=. the Panic Stricken
:" Rulis and Bears.
- .maii Failure in New York
Bs' ". and Few Through.
ant the Country

vgx YORK. may ~. -. -
ne siocs Exchange without 'ne ap,
a'.s rce Of furry. stocks opened
and feverish, except western
sssn and Union Pacific. ST Paul was
Unlon cent lower, Northwestern y,
hranua q, Lake Shore ~, aud
LILO and Omaha "a. Inis vas sus-
bab nv better feeling and a general
seedsa !. ~ Ik(d2, foreign bankers buy |
sdssnsnsiyeIy. Exchange was weak,
ne ING reduced to 4.o574d to11a. |
n'ss Ieut ast TO per cent Tor carry
siocAp nmors of failures continue, bat
ine snncemeut il made vet, and they !
% sn.,sd a. ridiculous, "a 40 n7css7ity ,
rs - Or such actioa, speculation being
: :, sense panicky; a,.,.
% " slscar of the Exchange states taat
40 osn~a,sd by Russell Sage that be
BE- ih vary tputn sent In, bat must
sb s,ouly. Tue Cieari4g Ii rus.
pfocse have bond certific ttes ready
Conmn, delivery. and express de
fof in'ss, 10 be liber Il, with a view
n's:sx,no without delay any strin
,hs money mark {. lh.re Is
esAV.'Is an ,ut closing tae STOCK tx
casnga. Nav 6-Goysrnments
NJ 4
hlsas-sd 4i[s and As, which
are w. lOs6Ii2 and l3gd l22 on the
sess' o., mont. are nov at lUSII(d
sI se' 1854 ll9. The weakness Is
YEA 49, the fear that Flax d Hatcs's
said,nps may be marketed; oigs Is
- taking stocks on privileges TINS
lining 80 bot is making settIeinerits oy
lv,ns ,Secks for the difference. This
80 - hiln paying a large amount OF
.as.sv. but his action Will conpel bro
a ~ !. Il the stock which they bou Rht,
E..,;og that be would, as has been ,
80 custou. receive then on his puts
snsstiuq of the Clearing H"u e !
cl.,n,ttse today resulted in feclsion
800 IN members ~ the Association
mr.. money required at par, Oh pledge
~ sna,-,nment securities. This vii it
",sonsbt. hello materially to ease toe
s,',siIlpp stringency IN moaey.
Fnsorga w. Ely, Secretary OF the |,
81 Exchange, in answer to AN liz.
s.,ry A 10 whether President Hatch
Va ,ss,Oned. stated that no Official I
- had been gwen the governing J
s.mmittee. bat that such action was !
expected. Az :
visit to the various banks on Wall
.,,eat found matters progressing In the
- routine. At tue Metropolitan
Isnk business was going as before tue |
s..,orary suspension. Bauk Examiner !
eeb,iha reported 70 the Comptroller of
~ rarreucy that the institution WAS
sa,no nicely. The rest of the banks s
"a runpine AZ usual aud aft airs seem q :
n sgain settling down to their former
coalition. q
chsnpe are rather gloomy, although no n
hlIures or rumors Of failures are cur d
rsoi. Shippers operation. are checked
b The extreme difficulty in selling n
ssriinQ exchange. Prices arc all low \
A and The tendency is downward.
il3Oa. m.-Fisk d Hatch have p>st- i
ID notice that coupons Of Central
P,ciho bonds will be paid at the office /
.. the railroad company.
nc. HARDY d Sous nave suspended.
An their contracts are provided for.
stocks were heavy and demoraliZed on Q
lie announcement of the failure, but i
.fbrsards rallied " to 2l4 for some Q
sAnss. bat few stocks are heavy, New b
York Central selling at los against ITO. n
USING THE NEW CERTIFICATES.
Munger Camp, of the Clearing
Hose, says the banks are availing b
themselves freely of the new certlti n
ases. He will rot be surprised il xl0,- I
oDD0o 10 taken today. The suspended Il
hrms are all busy STRENGTHENING their p
Affairs. Il
NEw YoRK. May Is, noon. The sub .
Iressury paid out f3,50O,00O IN legal ten y
dsn this morning. This strengthens u
Toe bank reserve. Brokers report more y
willingness on the part Of banks TO y
make loans. Large amounts come from y
Oaneda, and heavy transfers are made :!
ifem the other side. The first two
Aoars Of business, which ars usually the "
most dangerous in season of furry,
passed with only ONE small failure.
witch had no depressing effects.
Tbs Sub Treasurer here reports only b
N6I0O0 worth of bonds offered for re- a
aempiiOn under the Folger proposition | =.
hfedeem in anticipation of tue date of | h
all. Toe Clearing House banks have "
Rreei 70 adv Incs S20.0o0,00O on gov A,
sfhnent bonds. II necessary To protect n
" market. This (2:l5 D. TN. }, tue hour +,
sei.llng. has passed safely, with no
additional failures.
AT BROOKLYN.
Nav Yogx, May l6.-fhe excitement h
Mtae several Brooklyn banks has calm a,
down. The Atlantic State Bank Is | n
opsn today, but no business ia transact a,
~ The bank examiner got through .,
~ night, and found everything all W
proved. y
sp m.-Seligmsn has e.bled TOR !,
salpnents from Europe for 100000 a,
lfsnos In Napoleons, aud probably b
.1sou In double eagles from London. A.
aasseii Sage has Just seated % Jay q,
sNesa snat he has settled more tnan q
%ssqasrters OF his puts. aud will con h
asas sstti'nR up - fast ~ his force can "
Ut III accounts. The speculative day a,
saea peacefully. Ali evidence goes To- v
sos TAT the period of semi panic is L,
ssss aud monetary affairs arc gradually =
g. 'a'eg 10 their accustomed condi- %
FISK HATCH. cl
sss foRK, May l5.-Fisk L Hatch y
80 iae following notice To An Asso- y
assea f'ts' representative: .
\. seeaf dep)sitors and other creditors: u
sas WIN great sotroa that We ART
%sl 70 announce TO you oar snspen-
saien has bsen brought about By =
"oination of circumstances. Tue u
~ continued decliue In the market =
Sss " securities. even the very best, .
go Isoisd 10y the great weakening of = =
!, Ishce In nnanciai matters. t,geth-
s'a me heavy drainage on deposits. .
t,,. 80 o. Tue principal causes Of our uu- y
,a. .s,s'e Position, We can only Request y
- having CLAIMS against Us to ex- 4
ael'.~ IN such consideration and in- :.
=, y a We may need. and u may be
ouf poser - grant. Very truly,
r.. FRK 4 HArcH.
a. see general opinion ssetas to be sna I
- sA OF tae iirm is due in part {. | ). =
i. ass thai 1t has been for years >
49, INVESTOR IN tue interest class of
tasas ponds, paying high pric IS for !. =
d. sau Their Inability 60 realize ON !,
a. 0 OF securities without heavy /,
~,s, vne element of weakness was ,hs
~ y eountry banks had balances III .
H. uateL's. Some of these. 10 seems, :
hr,s ahdeisiood, had heavy drafts,
snsa on account of timldity AZ the :
asmssa Prospect, and partly 60 satisfy
in,s made on them by Their depos
a,.s .ne attempts of Fisk 4 Hatch TO
fas,l. 'su on their securities. were made
u.,..y zoe peculiar condition of the
ia a.. market. The decline 10. prices =
,.l.srtnmeHl bonds was a a,rias,s mat |