Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1884-05-16
EASTERN NEWS.
Excitement still Prevailing in
New York City.
SOME BANKS STRAIGHTEN UP
AND OTHERS SUSPEND.
The Money Market Presents a
Troubled Aspect.
POSSIBLY THE CRISIS NOT
REACHED YET.
Effect of the Crash in Missouri
and Illinois.
WHEELER NOT GUILTY, AND
CASH SHOT TO DEATH.
Effect of the Crash in Missouri
and Illinois.
WHEELER NOT GUILTY, AND
CASH SHOT TO DEATH.
ESPECIAL TO THE SENTINEL

ESPECIAL TO THE ~sEN11NEL.i
New York Money Troubles.
NEW YORK, May 1.-THE Metropolitan
Bank posted a notice that, the Bank Elk.
aminers having made an investigation,
the bank will resume business at Il
O'Clock.
A.. W. Dimmock & Co., brokers, sus-
pended at 9:45 A. M.
The scene on the street at this hour il
one of unwonted activity. Since early
this morning the brokers' offices have beer
opened, and the clerks are busy getting
accounts settled up. Many of the lead
ing firms kept their employees until mid
night. A general %overhauling of accounts
was made, so that on the opening Of the
| Exchange this morning affairs would be
in better condition than for many months
past, as new margins had been called to
prevent . rash sacrifice Of good securities.
| A representative of the Associated Press
has just talked with a financier of
| thirty-fve years experience. He says
| the action of the banks in decid-
| ing pool issues has decided the situa-
| ton favorably. He does not anticipate
/ further failures Of either banks or bank
ing firms, although he admits the possibil-
| ity that some weak stock house nay sus-
pend temporarily. The failure of the
latter he does not regard as q misfortune,
as the wedding out of the small dealers
helps to give q healthier tone to the gen.
eral situation.
1O:45 A. M.-Dispatches received this
morning from London houses by leading
foreign bankers. giving orders to buy
both stocks and bonds at the market
prices. As it was feared that foreign
orders to sell would be the chief factor on
a downward movement to-day, this news
was greeted with satisfaction and regarded
as another break in the clouds that threat
ened the financial world.
Demick & Co. have failed. The suspen-
sion has not affected the market. Demick
is President OF the Bankers q Merchants
Telegraph Co., and the suspension OF his
firm caused a drop in the securities Of the
Bankers & Merchants Telegraph Co. A.
NJ. Demick says the trouble was caused by
inability to realize money on securities.
All their customers accounts have been
profitable. George Putnam Smith was sp-
pointed assignee Of preferences to custom
ers.
On nearly every corner, within four
blocks of the center of operations, knots
of men are in earnest consultation, and
passers by can hear various comments on
the state Of affairs. The majority Of ex-
pressions of opinion take q favorable view
of the situation, and such phrases as,
1.-THE worst is now over" 1.-THE banks
are all right. Jay Gould won't let the
market break" are heard amid the din.
Wells, Fargo & Co. notified Donnell,
Lawson & Simpson that they would pay
the drafts of that firm by the Utah Ma
tional Of Ogden, Utah; Fred J. Kessel a
Co., of the same place, and Of Anderson
Bros. of Eagle Rock, Idaho.
The Metropolitan Bank Directors 40
copied the resignation Of President Seney,
and elected Vice President Jacques tc
succeed the manager. The Clearing.
house reports c~learances of the Metropoli
tan Bank effected.
Receiver Davis reports the liabilities Of
Grant & Ward. as far as he is able te
ascertain, at $14, Sol ,531, and collaterali
held by creditors at between $40, 900, O0t
and S12, DOC, O0O.
CHICAGO, May 15-11 A. M.-The mar.
kets opened with a strong upward bound
this morning, and the starting prices were
l and Ia over the best figures Of yester.
day.
NEW YORK, May 15.-Following are the
proposed amendments to the constitution
Of the Bank Clearinghouse Association
In case Of refusal or inability OF any banh
to promptly refund to the bank presenting
, such checks, draft or other items, re.
turned as not good, the bank holding such
checks, drafts or other items, returned
as not good, the bank holding sucl
checks, drafts or other items may
report to the manager the amount Of the
same, and it shall be his duty, with the
approval Of the Clearinghouse Committee
to take from the settling sheet Of botf
banks the amount so reported, and adjust
the Clearinghouse settlement accordingly
provided that such notice has been giver
to the managers before / O'Clock the amt
day. The Clearinghouse Committee, wht
are empowered, whenever it shall consider
it for the interest Of the association. to ex
anime any bank, member, or association
and require from any member securities O.
such amount and character as the sale
committee may deem sufficient for the pro
lection of balances resulting from changes
at the Clearinghouse. A meeting will b.
held shortly to act on the matter.
IL A. M.-The Foreign Exchange marker
was affected unfavorsbly by offering t.
loan bills for large amounts, as well as by
the withdrawal Of money by cable from
London for use in this market at higl
rates for money on call here, rendering
such transactions highly profitable. The
first hour Of business only one failure wal
announced, and this did not involve any
other firms. Confidence is being gradually
restored, and among inanciers few anxious
faces are met.
Boston, May 15.-F. A. Hanley 4 Co..
bankers and brokers, have suspended
They cannot give q statement Of their liza
bilities. They state that their suspension
is due to the failure TO ascertain just where
they stand. They have been doing bust
ness on bank deposits. The amount du,
depositors is unknown. They hope to re.
sumo. but it is not probable.
WASHINGTON, May 15.-Bank Examiner
Serbia believes the crisis is past. The
Secretary Of the Treasury tslsRraphed thu