Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1884-05-16
BELLOMING BULLS.
They Successfully Assault the
Bears.
THE STOCK MARKET GOES UP AGAIN.
A Better Feeling in New YOrk--The Excite
mentOf Wednesday Not Repeated
The Metropolitan Bank Opens
Up Its Doors.

NEw YoRE, May l5.-The opening ofthe
market TODAY was anxiously awaited. With
the approach Of the hour for business
crowds Of curiosity seekers began to fill the
streets. Until very late last night clerks
and cashiers had been busily engaged in
posting their books in order to see just
where they stood The brokers Offices
opened early, and it was apparent as soon
as the exchange opened that a better state
Of feeling existed, The announcement,
officially made, that the Metropolitan bank
would open its doors at u o'clock, added
to the better prospects which scarcely fell at
the announcement Of the failure of A. ".
Dimick 4 Co. Stocks opened frmer and at
| an advance. Western Union went up TO
| J2, while Rock Island was firm at ll3.
Outside Help.
Davis 4 Co, London brokers, cabled
\ Kiernans Agency to BUY both stocks and
! bonds, as the London market was advancing
! with strong feeling.
An Old Spectators Opinion.
| y
! sagacious operator who had been on the
street for thirty-6ve years He says the
action of the banks in deciding to pool their
issues decided Gyorably, and he does not
anticipate any further failures although,
/ possibly, some weak stock houses NAV sus-
| pend temporarily. which will be a blessing
rather than deuiment.
At the Flour Exchange.
More than the usual number of members
/ gathered at the Flour Exchange. and the
moment the chairman's gavel fell there was
/ a babel Of confusion, and five hundred
| hands were lifted in the air. Before FIVE
! minutes had elapsed the aunOuncement of
/ the failure Of Dimick x Co. was made. The
/ announcement caused but a momeutarv
/ mll, and the noise soon began again with
( greater vehemence.'
Russell Sage all Right.
/ Russell Sage is paving all demands on
/ privileges. The report that he had laid
. down on stock is utterly without tounda-
/ ton. The only contracts he refused to take
were those on which the usual one days no
/ tice had not been given.
A New President.
Henry L. Jacques has been elected preSi-
dent Of tie Metropolitan Bank, vice George
| l. Seney resigned.
Clearing House Action.
For further and additional security an
amendment TO the constitution of the Clear
ing House has been prepared which gives
the Clearing House Association the power
al anv time to examine any bank OF the as
sociation. and if desirable demand of it
such security as may seem necessary.
Foreign Exchanges.
About IL o'clock the Foreign Exchange
became affected unfavorably By the offering
of loan bills in large amounts and by the
withdrawal by cable, Of large sums for use
in this market, the high rate for money here
making such transactions highly profitable.
Grant & Ward.
Receiver Davis reports the liabilities Of
Grant \ Ward at $l450l ,53l. CollateralS
held hy creditors between SlO,00O,0O0 and
Sl2 600 COO Unsecured Indebtedness be-
tween -, 900, 900 and 81, 900 900.
RNpects to Resume.
| HotchkiSS Burnham are examining
their books and expect To resume to-
morrow Boston dispatches announce the
failure Of F. A. Hanly 4 Co., small dealers
Philadelphia reports say the market there
Is all right this morning.
Expensive Money.
At noon money was eagerly taken at -
per cent per annum, while good CONNER
cial paper was but nominal.
The Opening of the Bank.
At Y o'clock the Metropolitan bank
opened its doors and resumed business. The
rush was comparatively light and only one
lady was in the crowd, the most of which
was bows and clerks There has been no
| excitement at the Produce Exchange, and
little business was transacted at the Petro-
.Cum Exchange.
Jay Gould's Opinion.
Jaw Gould says the panic was and is a
Senscless thing That it came principally
| from mutual diStrust The general calling
| I'm of loans was unnecessary and foolish
think the worst is over The action of the
banks was an excellent thing as it announced
To the country that there could be no panic.
| Speaking of Western Union he said he never
| expected to see it sell below 30. but this
trouble only adds to its business.
! Takes n Tumble.
The Stock ofthe Bankers and Merchants
Telegraph Company, in which Dimick Il
| Co. were largely interested was freely offer
! ell at - as against ll9 yesterday. \ sale
was made at 65, seller 81.
An English Opinion.
Dispatches record the fact that London
bdAkers do not regard the panic as serious,
| They are positive it will occasion no fail
ures in England. Not even rumorS Of fail
| ures have obtained The decline of
! American securities together with the cheap
ness Of money in so many European cOun-
tries had served to atrract.a new class of