St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-05-17


has not had a single failure. They have been
saying that business was loosely conducted
here, and that we rested on u superficial
foundation. The truth of that claim has been
tested in the last two or three days. There
are millions of money in the banks and no
one here has been materially hurt"
''The rumor is current that the Chicago
banks are sending out a large amount of
money to their country customers, indicating
distrust on the part of the latter What have
you to say to that?' asked the GLOBE cor
respondent of Mr.. Grannis, president of the
Union National bank.
''At this time of year there is always
great deal of currency sent to the country in
payment for grain and this money finds its
way back to us in ten or fifteen days. re-
piled he. ''The sums that are being sent are
not by any means enormous and they go to
banks, not to depositors.''
Mr.. Gage, vice president of the First Ma
tional bank, admitted that the sums sent out
from Chicago to the country just now are
somewhat in excess of the usual amounts,
but, - he said, ''this is perfectly natu raj.
national and right, and the country banks
which did not ask for their outstanding bal
ances at such times as this would be acting
like blamed fools. There is, however, no
reason to apprehend any panic, neither here
nor in the country
Mr.. Colvtn, the local agent of the United
States Express company, said in reply to the
question whether the amounts sent out by
the Chicago banks were more than usually
large, that such was not the case, at least not
more so than generally at this time of year.
Mr.. F. Y. Donahue, agent of Adams ex-
press, and Mr.. Bloggart, agent of the Ameri-
can Express company, expressed themselves
in similar terms.
Western Associated Press.
PHILADELPHIA.
PHILADELPHIA, May 16.-The situation is
unchanged. There is some little increased
demand for money but rates are 4 to 6 per
cent. The stock market is unsettled. Coy
crnment bonds are lower, but the various
securities were brought in the purchasing of
orders from the country. No excitement.
MONTREAL.
MONTREAL, May 16.-Stocks are strong,
particularly bank shares, which are improv-
ing, on account of better rates for loans
The Montreal bank sold up to 1919, the
highest price for weeks.
RESUMED.
BRADFORD, Pa, May 16.-The Exchange
bank, private institution, Huff g Eye,
prOprietOrs, has resumed.
HAwLEY Il co.
BosToN May 16.-The Office of Hawley &
Gosswas thronged this morning with many
ladies. The assignee is in charge. Hawley
at the stock board is trying to arrange mat
ters. The fact that his transfer books of the
Atchison, Topeka 81 Sante Fc railroad was
| opened to-day, makes his task onerous, as
the firm is dealing heavily in Atchison Sc
curities, therefore they have many transfers
to make. II will be several days before the
status Of the firm can be learned. Its re-
sumption is impossible.
MADE A MISTAKE.
DALLAS, Texas, May 16.-It transpires
that the building and lot levied on yesterday
as the property of Donnell, Lawson d Simp-
son, of New York. to satisfy the claim of the
Ft. Worth Water company, amounting to
$4,000, belongs to a disinterested party and
no way connected with the firm. The suit
has therefore been withdrawn.
KANSAS CITY.
KANSAS CITY, May 6-Attachments to
the amount of $4G, 600 were levied to-day on
the real estate of Donnell, Lawson q Simp-
son in this city. At all the banks there were
comparatively few Withdrawals, while the
number OF deposits were unusually large A
number of country bankers were in the city
to-day, and after learning the situation,
nearly if not quite all decided to let their de-
posits remain. There has been no excite
IN ent at any time during the day.
NOT A DEFAULTER.
NEWARK, n. j., May 16.-Daniel Dodd.
treasurer of the Newark Savings institution
was treasurer of the Newark City sinking
made this afternoon but it was found in
tact.
ATLANTA.
ATLANTA, May 16.-There was a slight
run this morning on the banks, but the ex-
element was soon over, and the banks
closed stronger than when they opened.
AN INCORRECT REPORT
CHICAGO May 16.-The rumor has come
from New York tonight to the effect that the
Bankers s. Merchants Telegraph company
had stopped all construction on its lines, and
dismissed its gang of men, as a result of the
failure of the New York firm, A. W. Dimick &
Co., the senior partner of which is president
of that company. In answer to a question,
R. Stewart, superintendent of the western
division of the Bankers & Merchants COM
pany, said there was no truth in the rumor
so far as his division was concerned The
| company lost no money by the failure; that
| it had projected much construction, and it
might be that they would be delayed in some
| places, but he had not heard of any such re-
suit.
SAN FRANCISCO.
san Francisco, May 16.-A considerable
amount OF money was sent east to-day. Or
dinary exchange on New York is selling at
80. Telegraphic has risen to u. Some
banks stopped selling. Several this morn
ing called on their customers to put up fur
| ther collateral on overdraws. The market is
unaffected otherwise.
Senator Mermdn's Opinions.
| PHILADELPHIA. May 16.-Senator Sherman
was interviewed here and said: We are
neither in panic or on the verge of it, un-
less my judgment is seriously at fault. The
country is not in anything like the condi-
| ton in which it was in '73, when the fnan-
cial crash of that year came. Our financial
status is entirely different The nresent