Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1884-05-21

from the presidency of the Metropolitan
| Bank is regarded as wise, as it leaves
| him freer to act for the best interests of
his personal affairs.
RUSSELL SAGE SOUND.
New YORK, May 15.-Russell Sage is
paying all demands on privileges. The
report that he had sslaid down" on his
contracts was started by somebody ig-
norant of the street. The only contracts
he refused to take yesterday were on
those on which the usual one days no.
tice was not given.
/ WHAT JAY GOULD SAYS.
| New YORK, May 15.-Jay Gould
stated to Tribune reporter:
| This disturbance is a senseless thing It
| comes from fear of each other by both banks
| and brokers, think, rather than anything else.
| The general calling Of loans wss wholly I'M
| necessary and foolish, suppose the banks are
a little more cautious than usual on account of
| losses accidentally suffered by the First
National last week. but think the worst is over.
| The people will regain their sense and there
| Will be orders here from all over the country
| from persons eager to pick up bargains. The
| action OF the banks is excellent. Everyone will
! see There can be no panic while the banks stand
together. | am sure all this excitement is at an
end" Gould continued: 81 never expected to
see Western Union sell as low as 80, however,
| the company is certainly earning it's dividends,
and this trouble only adds to its business. I
! should suppose some brokers might have real.
| lied that fact"
HOPEFUL VIEW.
New YORK, May ia representa-
tive of the Associated Press has Just
talked with q fnancIer of thirty-five
years experience. He says the action
Of the banks In deciding to pool their
issues has decided the situation favor
ably. He does not anticipate further
failures either in banks or banking firms,
although he admits the possibility that
some bank stock houses may suspend
temporarily. The failures of the latter
he does not regard as misfortune, as
the wedding out of small dealers helps
to give a healthier tone to the situation.
| A PRESS OPINION.
| NEW YORK, May 15.-The CONNER
cial Advertiser editorially says:
The events of the day will decide, if they
| have not already decided, whether the financial
furry, like Western cyclone, will be confined
| to Wall Street or extend its ravages to other
| regions. If it goes no further the commotion
thus far confined mainly to spectators in
stocks and money dealers is likely to prove
| salutary. 1t will sweep away good many
| mere parasites OF commerce who contribute
| nothing OF enterprise or labor to the wealth
| of the community, and merely prey upon
| the substance which the enterprise and labor of
others has created. Our conviction is that the
| real business of the country has settled down
| upon pretty solid foundation; that the swell
which always follows tempest will continue to
be felt some time, but the motion will be one of
subsistence, not of disturbance and havoc.
BONDS TO BE PAID.
WASHINGTON, May 15.-Bank Ex-
aminer Serbia believes the crisis is
passed. The Secretary of the Treasury
telegraphed the assistant treasurer of
New York as follows:
From this date TO June you are authorized
| to pay bonds embraced in the 125th, 126th and
127th calls, with accrued interest, subject to
decision OF the department az to the regularity
| of assignments, expressage to the department
to be paid as heretofore by the party having
| the bonds redeemed.
| (SigneO CHARLES j. FoLGER.
| Secretary.
| AT THE PRODUCE EXCHANGE.
New YORK, May Robustness at the
Produce Exchange has rather gloomy
look, although there are no failures or
rumors of failures current. Traders are
not disposed to operate to any material
extent. Shippers operations are checked
by their extreme difficulty in selling
sterling exchange. Prices all lower and
tending downward. Leading members
are quite hopeful that there will be O
panic on the Produce Exchange, but
some members are discouraged at the
outlook of financial affairs in Wall
Street.
| THE FISK & HATCH FAILURE.
| New YORK, May 16.-C. p. Hunting
ton, president of the Chesapeake & Ohio
Railroad, was interviewed regarding
the statement that Fisk & Hatch were
embarrassed through holding stock in
that road and the Central Pacific, re-
sponded:
"The reports are untrue. know the firm
| hasn't any Central Pacific. / think it cannot
hold any Chesapeake Ohio unless it is some
| that it had before the panic of 1873. The firm
| hold most of the Chesapeake & Ohio at high
| prices, but may have some still-possibly 1000
| shares"
| President Baldwin, of the Fourth
National Bank, who knows the firms af-
fairs intimately, confirmed Huntington's
statement, and said that the whole cause
of the firms trouble was the decline in
| governments.
RANDOM NOTES
NEW YORK, May 15.-Wells, Fargo
& Co. have notified Donell, Lawson &
Smithson that they will pay drafts on
that firm drawn by the Utah National
Bank, of Ogden, Utah, Frederick J.
Keisel & Co., of the same place, and of
| Anderson Bros, of Eagle Rock, Idaho.
The rush on the Second National
Bank has about stopped. There were
14S depositors up to noon. The Clear
ing House has arranged to pay all the
| Second Nationals debts.
Hotchkiss & Durham are balancing
their accounts and expect to resume to-
morrow.
Hawley & Co. state that their suspen-
sion is due to failure to ascertain
just where they stand. They have been
doing business as a bank of deposit.
The amount due depositors is unknown.
They hope to resume. but it is not prob
able that they can. The house WAS rated
at 100000.