The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1884-05-17
THE WORST Is OVER.
BRIGHTER DAYIN WALL STREET.

BRIGHTER DAYIN WALL STREET
Backbone OF the Money Strinrency Broken
Ihe ClearinT-itousc Decide TO Loan None
to Members-Thc Government Comes TO tn
Rescue.
BY telegraph to tho Dispaich.l
NEW YORK, May 16.-The meeting Of tn
clearinghouse Loan Committee this morn
ing resulted in a decision TO loan TO mem
Ders OF the Association all the money the,
may require at par, on the pledge Of Gev
ernment securities. This will, Is Is thought
help materially TO ease the prevailing strin
gency la money.
THE NEW YORK BANKS.
NEW YORK, May 16.-The run on TIT
Emigrant Industrial Savings Bank haC
abated to-day, and business was being don,
the same rs usual. About 100000 wa
paid out yesterday. but depositors wer,
returning their money to-day. There wa.
no run on the Manhattan Savings Institu
ton. The Greenwich Savings Bank run
ended to-day. There was a steady run or
the German Savings Bank to-day. A large
crowd, composed mostly OF workmeu
stood around it. The teller was paying
nothing but gold TO them. The Second
National Bank presented quiet appear
ance to-day. There were many parties
making deposits, but few drawing out.
At the Union Dime Savings Bank only
few persons drew out their deposits. A
crowd surrounded the Bleeker-Street Bank
this morning. They were nearly all Ital-
ians, and the run is confined altogether TO
them. A number OF persons drew out
thar deposits at the Bowery Savings Bank
to-day. There was no excitement there.
There was no run on the Butchers and
Droyer's National Bank, the Citizens Sa-
wings Bank. Metropolitan Savings Bank,
Manhattan Savings Institution, nor Inc
East River Savings Bank.
There was run to-day OH the Seamen's
Savings Bank, but all depositors were paid
on demand.
The Petroleum Exchange resolved to
close at 3 O'Clock to-day without taking
the usual recess. 1t was also resolved to
maintain position Of mastery inactivity
and do as little as possible, allowing things
to settle OF their own accord il they would.
DoNNELL, LAWSON L SIMPSON.
New YORK. May 16.-Donnell, Lawson
& Simpson have assigned to their conf
dental clerk, X. II. Weems. The as
signee says the firm has been unable to
make out statement OF its condition, and
does not expect to have one ready for some
time. The assignment was made with a
view to protecting everybody, both large
and small, and was only determined on
when parties ut the West began attaching
property OF the concern.
THE MARKET CLOSES WITH A wHIRL OF
BRILLIANCY.
The New York stock market opened
irregular. and i'm the main weak, on ac-
count OF the failure OF Fisk d Hatch, an
nounced late Thursday. The first sales
were generally at concession OF t@l9.
st. Paul opened 1 lower, Northwest 4,
Lackawanna !, Lake Shore q, Missouri
Pacific ], New York Central {. Northern
Pacific preferred I, Pacific Mail u, Omaha
u. On the other hand, Western Union
and Wabash preferred, Union Pacific and
Texas Pacific were higher. Before the
first call there was a sharp upward turn,
and Lake Shore rose ., Pacific Mali 81,
Western Union q, New York Central 1s,
Fried. Northwest II, ST. Paul y, Quincy
/, Central Pacific u, Lackawanna l, Louis
vile and Nashville II, Missouri Pacific 1.
Speculation was favorably affected by
the weakness OF the sterling exchange
market. The failure OF the Newark Saw
ings Institution was announced and n
drive YVES made against Lake Shore and
New York Central. The former broke
and the latter 81 Among the other active
shares Canadian Pacific fell off q, Central
Pacific Il, Canada Southern 8. Northwest
Al, St. Paul 81, Rock Island II. Lackawanra
Al, Delaware and Hudson 2, Louisville and
Nashville 80, Missouri Pacific 5, Kansas
and Texas II, Northern Pacific preferred
8, Pacific Mail 3. Reading II, Union Pacific
"a, Western Union q. subsequently,
while there were frequent reactions, and at
times ieverish feeling under fear OF fur
ther failures, the market showed hardening
tendency, and as O'Clock approached and
there were not only no further failures, but
the favorable conditions continued to null
tiply, there was q great Improvement in
prices, the day closelng with whirl OF
buOyancy. The change from depression
to buOyancy late in the day was very
marked, and at the close there was great
feeling OF relief. and the opinion gained
ground that the worst was over During the
day considerable money was received from
nearly all points, and investors also brought
heavy amounts to buy. AT the close it
looked as if the backbone OF money strin-
gency had been broken. In the late adj
vance Canada Southern rose 8, Canada Pa
cifc 81, Central Pacific Al, Quincy A,
Northwest 81, preferred 4, st. Paul Az,
Louisville and Nashville st, Lake Shore
s. Michigan Central 5, Missouri Pa
cific 81, Kansas and Texas q. New York
Central 81, Northern Pacific preferred 3.
Oregon Transcontinental q, Pacific Mail
Ct, Omaha preferred %, Texas Pacific 2,
Union Paclfic a, Western Union 81.
Compared with last nights close Central
Pacific is 3 higher, Quincy 3, Pacific Mail
and Western Union u, Wabash q, Kansas
and Texas q, Texas Pacific ,, Canadian
Pacific II, Northwest, Louisville and Nash
vile and Oregon Transcontinental II.
Omaha preferred and Northern Pacific pre-
fered Il, Erie and Northern Pacific COM
mon IL. st. Paul 1t, and Northwest
preferred, Denver and New York Central
/; while Michigan Central IS 3. Canada
Southern and jersey Central 4, Lake Shore
/ lower. Bankers and Merchants Tele-
graph closed at 80. Sales 435,0 900 shares.
THURSDAY IN WALL STREET.
E...f., ID ;obt Va a., 4; 81. Glands