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

put out over $4,000 on his "puts." Sages
action, il was said would lift one OF the
| clouds which had hung over the situation
Dimmick & Co.'S failure did not cause the
surprise as the house has not been
| in high repute for some time. The failure
| Is not connected with the troubles of We'd
Eesday. Anthony w. Dimmick, membrr
OF the firm, is president OF the Bankers
and Merchants Telegraph Co. Dimmick
u Go. we're the heaviest stockholders of the
Telegraph company, whose stock sold at
Sl.19 Wednesday and after the failure
dropped rapidly to a. The firm assigned
TO Charles p. Smith.
MISSOURI BANKS,
St. Louis, Nav ia Post Dispatch,
Jefferson City, special says: Secretary of
State McGrsth Is In receipt of reports from
all banks In the state up TO the tirst OF the
month and says the statements show the
banks TO be in fourishing condition and
show better financial standing than at
any previous time.
The situation here Is practically un-
changed. The bankers and business men
generally have no apprehensions for the
future. Much sstisfictiC n is expressed at
the resumption of the Metropolitan bank
While little uneasiness was produced by
the suspension of Fisk IL Hatch, and
very slight furry was created by the tenn
pOrary irOnble In Kansas City, still the
general opinion is nothing serious will re-
suit outside OF New York Considerable
attention was attracted, however,
to Donnell, Lawson & Simpson, snd there
is considerable desire 10 know the con-
diticn of that firm and what Its future sc-
ton will be. IL has intimate relations with
and is correspondent of nearly a hundred
hanks in Missouri, some in Kansas, thirty
or forty in Texas and has connections In
all the extreme western states and terri
tories IL is not known TO what extent
| they are involved and In what direction,
but their Indebtedness to Western bankers
may run into the millions. l.. V. Stephens
of Boonville, one OF the most promin
ent bankers of the interior OF
this state estimates in case of a complete
| failure Of the firm the loss to Missouri will
be fully half million. 1t is also feared
the loss TO Texas bankers will be heavy.
A dispatch from St. Joseph says attach
ments lave BEEN laid on Donnells' prop
erty in that city TO the amount of 100000.
Jas l. Wilson, assignee CT the ST. Joseph
savings bank which closed yesterday, has
taken barge and will investigate the con-
condition of affaiIs at once.
IN KANSAS CITY.
Kansas City May 15.-There is no truth
in the report OF the suspension of the bank
of Kansas City. The bankers of the city
met this morning and agreed to paw 20
per cent. cash TO deposItors, and TO give
certified checks for the balance. This
agreement includes all except Armour's
bank, which prefers to pay dollar for dol
lar. The balance at the clearing house
will BE- announced at o'clock, when the
plan of settlement will be agreed upon. 1t
Is thought the plan decided upon in New
York will be adopted here. There was
some excitement this morning but this had
materially subsidized at noon. The slight
furry of the morning disappeared this
afternoon. A large number of deposits
were drawn out in the morning, but nearly
all were small amounts, the larger
depositors appearing confident the scare
was merely an artificial one.
The concerted action of the banks,
coupled with the encouraging eastern ad-
vices brought about an early reaction, and
the excitement gradually subsidized. The
report which got abroad that the bank of
Kansas City was involved seems to have
originated In the impression that the bank
| had large account with Donnell, Lawson
& Simpson. Their books show they had
only $4,000 with the New York firm,
comparatively q small amount. The feel
ing now is that the occasion for apprehen-
sion of serious trouble is over.
The bank clearings to day were $522, 900
against $685. the corresponding day last
year, being an Increase OF 81 600. This is
regarded as a favorable showing under the
circumstances. All the banks have settled
their balances without hesitation, obviat-
ing the necessity for adopting any special
plan of settlement and the situation sp-
peared altogether reassuring. The Citizens
| National and Traders banks paid out in
full during the afternoon, though it is un-
derstood they were included in the
original agreement TO pay 20 per cent.
cash and use certified checks.
| THE SCENE THIS MORNING
on Delaware street, where most of the banks
are located, was quite exciting Large
crowds gathered about the doors of several
banks, though their numbers were made
] up to a great extent by mere curiosity seek
ers. AS the day wore on confidence was re-
stored, and by Il o'clock even the latter had
dispersed. The feeling tonight among
business men is that the crisis which threat
ened is past, unless further failures in the
east should bring about fresh complica-
tions.
Governor Click, of Kansas, Secretary of
State Smith and Treasurer Howe passed
through the city to-day en- route to New
York, purposing to effect settlement of the
affairs of the state of Kansas with Don
nell, Lawson & Simpson, and appoint
new fiscal agent.
The announcement of the suspension of
Fisk & Hatch came too late to visibly az
feet the business OF the day. The only dis
turbsnce to-day was in the condition of
the banks The condition of business gen.
orally is unusually healthy, and finsnciers
say the business Of the city was never
more prosperous than it has been this
oaaaon