The Red Cloud chief., 1884-05-23
MORE OF HI CRASH.
rhe Effect Of the Late Faiiures-Ths Situa-
ton Grave. but More ReaasurinG.


and at the opening prices fell of q little,
and wild rumors of failures in the West
were started. Subsequently the market
regained what it had lost only to fall off
again. However, on announcement of fur
Their failures, Wall street, it closed slightly
lower than on Wednesday. There
was talk at the exchange of abolishing
calls, as has already been done in Chicago.
1t was the general opinion that this would
be done Immediately. At the Cotton Ex-
change the market opened firmcr, prices be-
ing higher than at the close of business
Wednesday. There was little business
done, however. When the news of the
failure Of Fisk & Hatch reached the
exchange, the market broke somewhat
ST. LOUIs FINANCES.
ST. LOUIS, May 16.-The situation here
is practically unchanged. Bankers and
business men generally have no a%ppreben-
sion for the future. More satisfaction is
expressed at the resumption of the
Metropolitan Bank, and while a little
uneaSineSs is produced by the suspension of
Fish & Hatch and a very slight furry
IS created by the temporary trouble in Kan
sas City. still the general opinion is that
nothing serious will result outside Of New
York. Considerable attention was attracted,
however, TO Donnell, Lawson d Simpson,
and there is considerable desire to know the
condition of that firm and what its future
actioa will be. 1t has intimate rela-
tons with and is correspondent of nearly
a hundred banks IN Missouri, some sixty
in Kansas, thirty or forty in Texas, and has
numerous connections in all the extreme
Western States and Territories. 1t is not
known, of course. to what extent they are
involved i'm this course, but their indebted
ness to Western bankers may run into mil
lions. l.. V. Stephens, of BOonville, one of
the most prominent bankers of the in
terror of this State. estimates that
in ease of 4 complete failure Of
the firm the loss to Missouri will be fully
$500. 900. 1t is also feared the loss to Texas
b mixers will be heavy.
U~NpISTURBED IN SAN FRANCISCO.
SAN FRANCISCO. May 16.-Tlle suspension
of Fisk & Hatch, of New York. crea-
ted more surprise than any yet announced.
This IS chiefly due to the fact that the sus-
pended bank was such a heavy deaieE in
Government bonds, largely held on this
coast; serondly, they were fiscal agents
of the Chesapeake Il Ohio Railroad syS
TEN, controlled by {. II. Hunt
ington, first Vice President Of the Central
Pacific. The announcement was immedi-
ately followed by rumOrS as TO the effect the
suspension might have on railroad interests
on this cost. Charles Crocker, President of
the Central Pacific, stated emphatically to
a representative of the Associated Press that
it would have none, that neither the Central
nor the Southern Pacific were or could be
involved with the suspension of the firm.
New YORK, May II. 10 Il. m.--The Met
ropOlitan Bank posted 4 notice that the
bank examiners having made an inveStiga-
ton, the bank viii resume at twelve O'Clock.
Henry L.. jacques was elected President OF
the Metropolitan Bank in place of George
J. Seney, resigned. The floor of the
Stock Exchange had more than the
usual complement of buyers, and by $50
crowds of operators gathered in knots
waiting the signal to commence the days
business. just as the clock marked ten
Chairman Mitchell gave three rapS of the
gavel. In an instant the pent up excite
ment of the brokers gave vent to a howl
and five hundred hands We're lifted in the
air, and the various pools were formed in
which different stocks were dealt in. Ere
five minutes had elapsed the gavel wa
again heard among great din, and the an
nouncement was made that Dimmick
& Co, of the United Bank had suS-
pended. Dimmick is President of the
Bankers & Merchants Telegraph Company.
VIVA GOULD SAYS.
Jay Gould stated to the Tribune: This
disturbance is senseleSS thing. 1t comes
from a fear of each other by both banks and
brokers. L think, rather than anything
else. The general calling of loans
&. xy1,l1r an {nnltch
| suppose the banks are a little NOR
cautious than usual o account of the loss
suffered by the First National last week.
but l think the worst is over; people will
regain their senses, and there will be orden
here from all over the country from persons
eager to pick up bargains. The action of the
banks is excellent. Every n will see that
there can be no panic while the banks
stand together. | IN sure all the excite
mant is at all end" He says the action OF
banks, in deciding to pool issues, has de
cIied the situation favorably. He does no,
anticipate further failures of either banks
or banking houses, although he admits the
possibility that some weak stock houses
may suspend temporarily. The failure OF
the latter he does not regard as a misfor
tune, as the wedding u of small dealers
helps to give a healthier tone to the genera.
situation.
RAN & WARD.
Receiver Davies reports the liabilities oil
Grant IL Ward. 50 far as he is able to aScer
tain, at Sl4, sol ,531. Collaterals held by
creditors between ten and twelve millions
leaving an unsecured Indebtedness Of be
tween two and three millions.
A LIGHT BREEZE IN KANSAS CITY.
KANSAS CITY, May 15.-At an early hour
this morning crowds began to gather around
the banks. The news from New York yes
terilay had created some excitement
especially among small depOsitorS, many Of
whom had all their savings in bank and
naturally felt a little nervous. As the hO1l
for the opening Of the banks approached,
the crowds about the doors grew denser.
and SpecniationS were rife as to what would
be done. While some wore serious cOunr
tenances. the greater portion of the people
were good natured At nine o'clock the an
nouncement was made that an agreement
had been entered into by all the bankers OF
tho city to pay twenty per cent. on deposits
and give, If desired, a certified check for the
balance, payable only through the Clearing
House. The purpose of this measure wa
obviously to avoid the dangers of a panic
stricken run. The large depositors were uni
fornly confident and kept away from the
banks. All of the large mercantile houses
made their deposits this morning as Is
nothing unusual had occurred. This had . |
decided tendency to check alarm or the part
OF those who were disposed to be frightened
at the outlook and the crowds S0On began