Lancaster daily intelligencer. [volume] (Lancaster, Pa.) 1864-1928, 1884-05-14
SECOND EDITION.
WEDNESDAY BvH NlNe, MAYi4, iee4
WALL STREET FURRY.
BANK AND pusiNEs, riRns SUSPEND.
Tho Metropolitan BsnK Closes its Doors
secretary Foiger's vIsws--An ExcitinE
Tina in naxv Ynrk aIty.


secretary Foiger's visws--An Esciting
Tino In new York city.
New YORK, May IA The scene at the
stock exchange this morning was one
Of intense excitement. There was wild
rush to sell stocks, and drop. in prices OF
from i to 81 per cent. occurred.
Before 1915 the firms Of Nelson, Robin.
son IL Co., aud Golf &c Randall announced
their suspension at the stock exchange.
Later on o. NJ. Bogart & Co. suspended,
and short time after tho streets were
astonished to hear of the suspension Of
Hatch Il Footo. This latter failure was
precipitated on account of the Pbm1ix
bank refusing to certify the firms checks
railure OF the Metropolitan Bank.
AT 11:4O a. m, the excitement was
intensified by the report, which was not at
lrst believed, but which was soon con.
firmed, that the Metropolitan bauk had
suspended. The doors were immediately
shut tight, aud immense crowds thronged
tho neighborhood.
a slightly Better Feeling.
NooN-On Wall street at this hour there
is slightly better feeling, but everything
is Uncertain. Holders arc making frantic
eudeavors to obtain cash for their
stocks
Secretary Folgor is at the ubtroasury
aud says he will use all the pow,r of tho
government to prevent panic.
WALL Broad and New streets are filed
with a surging mass Of people, and one
dense throng Ia packed from Trinity
church to the custom house side walks
aud carriage ways being alike impassable.
In front of the suspended houss of the
metropolitan bank the throug is still
q I,4
gaze upon the closed doors.
secretary rolg.r's Hopeful View.
1r. M.-At the Second National bank
three lines of depositors are demanding
their money. 1t is feared that ths bank
will have to stop paying out.
Secretary FOlger says the situation Is
| stronger than people suppose. 1t is not
inherently weak for there is plenty Of
money in tho country. The break is due,
he says, TO the speculation of a few men.
LATER The national bank inspector
declares that the Second National bank is
perfectly sound, aud many depOsitors
coming for their money turn away salts.
fed.
still Anotner Failure.
Donnell, lawson & Simpson have an.
nounced their failure.
They were large dealers in county water
and city bonds. They are said to have
SO, 900, coo with the suspended Metropoli-
tan bank. The firm, in their notice of the
failure, say "that owing TO the general
panic prevailing we deem it best TO sus
pend until we can see where we stand"
Drafts drawn by the First national bauk
OF Santa Fc on Donuall, Lawson and Simp.
| son will bo paid on presentation at the
First national bank, this city.
At 2 p. m. there is q much quieter feel.
ing on change and a general recover.
from lowest prices.
| Bsnk Presidents Ia Session.
2:30 p. M.-At tho clearing hous,
tho bank presidents are iu session
1t is stated, on the best Of au-
thority, that the banks will stand b
each other IA they did in '73 The re
sumption of the Metropolitan is likely q
tho stock exchange delivery the hour i
awaited with great anxiety.
| Tho End Not Rsacneu Not.
$50 p. m --Hatchkiss e BurDham hav,
just announced their suspension.
AS the close of the market approaches
matters arc steady;ng, but the end il
not thought to have been reached yet
| Money, which ruled all day yesterday al
| and 4 Per cent, is now per cent. aud
the tendency is toward q further harden.
ing.
The scene on tue streets ia one OF Intense
activity.
A Suspension ia Philadelphia.
PHILADELPHIA, May 1i.-Tho failure OF
Charles NJ. Bayard, sock broker of Wal.
nut street. is announced. The liabilities
are not considered heavy.
A Gall TOR Bonds.
New YORK, May 1i.-Secretary of the
Treasury Folger is in town and has tele
graphed to Washington ordering tho i'm
mediate payment of the 1877 call for bonds
If necessary ne will order another call fol
| $40 100000.