Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1884-05-19
A Good Feeling in Wall Street
No Disturbing Elements.
Statements in Preparation by Va
nous Firms-Failure Of an
Oil Merchant.
New YORK, May II, 10 A. NJ.


Office of Russell Sage the door had been
repaired and the doorway bsrricaded by q
strong wooden bar. There was no crowd and
the solitary police officer present had nothing
to do. Mr.. Sage says that he will meet all
of his privileges as far as his facilities will
allow. At the clearing house the loan CON-
mittee continued its session as . precaution-
ary measure.
Mr.. Hotchkiss, of Hotchkiss & Burnham,
said that they had already liquidated over
81 900, 900 of Indebtedness, and the firm
would resume active business as soon as the
interests of those concerned would allow.
At COTE & Randles the assignee said that
a statement would be ready before next week.
At the office of H. C. Hardy & Sons it was
said that statement might be ready later
today.
The offices of Messrs. Hatch & Foote, W.
NJ. Dimock & Co., Donnell, Lawson & Simp-
son, J. C. Williams & Co., Nelson, Robin
son Co., q. N. Bogart Co., and Fisk
Hatch were visited, and matters were very
quiet, statements in most cases being well
under way.
1t is hardly possible that Grant & Ward
will present a statement today.
At the Exchanges.
At the oil exchange prices were active and
nO IdlluTts IepOTttu Oli Optueu al q .. solu
up to so, and later at 79S a !. VIM. Pinkney
doing business under the firm name of Ben
ner Pinkney, merchants at No. 10 Old
Slip, today filed an assignment, with prefer
ences amounting to S23, 800.
This morning at the mining stock and pc
troleum exchange the market opened with an
upward tendency, going to So. At noon it
began to drop rapidly, and soon went down
FIVE points. The market at noon was very
excited, timid and nervous.
At the produce exchange the wheat market
opened steady and easy. At noon it fell
little lower, but was easy.
At the cotton exchange the market opened
strong, and soon went up seven points all
round. At noon the market was steady and
hopeful. The panic in Wall street has not
had much apprciable effect upon any of the
exchanges, and a disposition is shown to keep
prices up to restore confidence.
Confidence Restored IN Wall Street.
Wall street. p M.-The morning has
passed quietly on the street and confidence
seems to be restored. There is not a trace
of the excitement of the past three days now
visible. ahd affairs are progressing in fair
way towards q speedy recovery of values in
the stock exchange. The rapid advance of
the morning has been fairly well maintained,
the upward movement being merely checked
at intervals at the usual sale of small holders
to secure the profits accruing.
The bank statement is quite favorable,
showing an excess of reserve of about the
legal requirements of over S3,OOO.O 900. The
opinion of all the leading 6nanciers. who
have been interviewed by the Associated
Press representative, is that a gradual i'm
provement is certain to ensue, and that there
is no danger Of another backward step.
l.30 p. M.-There are no new features to
the share speculation thus far this afternoon.
The market is strong except for Louisville &
Nashville AID Missouri Pacific, which are
rather weak at 81 and 69A respectively. The
drop in the coal shares this morning was due
to reports of the disruption of the coal COM
bination, but this has been officially denied.
Money which opened at per cent. and
rose to per cent. per diem, is now 10 per
cent per annum.
The Markets in the Afternoon.
There was no further excitement on the
street nor in the exchanges this afternoon.
Prices varied somewhat Delaware & Lacka-
wanna falling to 1904 while We tern Union
rose to SCI. The bank statement is consid-
cred favorable.
Messrs. Benner & Pinkney, the shipping
merchant of Old Slip. who have assigned,
ascribe their position to shrinkage in values.
They are unwilling now to state their Gabili
ties. which, however, are small.
Oil Unctuated somewhat, selling from 80
down to 154. then up to IS.
The Seabork bank paid out over 50 .O00,-
900 on Thursday for oil and assisted greatly
in maintaining confidence. The rumors
about it being in difficulties are unfounded
jeremiah Steelman. merchant at S5 West
street, filed an assignment today with pref
erences amounting to SIS, $50.
The run on the Brooklyn savings banks
was ended today, and parties were returning
their money to the banks. At the office of
the Atlantic State Bank the affairs between
it and the Metropolitan bank of New York
are being adjusted. II is expected that things
will be arranged today and the bank will re-
sumo business.
Ia the Kings county register office this
morning there was filed a deed of convey
ance by George C. Seney and his wife of
their mansion in Brooklyn to the Metropoli-
tan bank in consideration of the sum of
sI75, ,OOO They also filed deed of convey
ance of another house and valuable grounds
in Brooklyn to Henry L. Jacques in consider
alton of the sum of $4,000.
McCulloch, Beecher Co., merchants at
Al Wall street, filed an assignment today
to Henry Paine Bartlett, giving preferences
to Drexel, Morgan & Co. for SIS, 900 and
VIM. Hoskins & Son of Boston gor 5,726.
They were shipping merchants Beecher
is the nephew of Henry Ward Beeeher. The
firm was at one time agents of the United
States and Brazil Steamship Line. Their
assets are $500, 900 and the liabili ties be-
tween $3.50, 900 and $500, 900. The suspen-
sion was caused by the currency of Brazil
having been heavily depressed and the decline
in coffee for three months. while the panic
this week did not cause it, it hastened it.
Defalter Eno's Method ef Proceedings.
A gentleman familiar with the workings of
the Second National Bank says that the de-
falcation of Ex-President Emo was much
larger than has been stated by the papers. He
describes Eno's method of getting money
from the bank as follows: The bank has a
vault in one the down town safe deposito-
ries, the Mercantile, 1 think, for safe keeping
of securities, and much of the business is
down town. For example, there is very lit
tie demand up town for loans and discount
Young Emo would stay down town nearly all
day, and when he would lose 100000 OIL
S200, 200 or $500, 900 - the case might BE-