The semi-weekly miner. [volume] (Butte, Mont.) 1882-1886, 1884-05-17
4 Plain Statement.

New York Tribune of FRIDAY: 7
| statements of the members of \
firm of DOnnell, Lawson Il Sims
on Wednesday that their suspen,is
was due wholly to the suspensou ~
The Metropolitan National bank vsn
I not confirmed yester' ay. The Nj.
rOpOlitan having resumed sinjS
action on the part. OF the bankjNs
firm was anxlously awaited. IT,
wards the close OF banking hours i
began to be whispered around thu
their failure would be total. 1h
bonds of the Cleveland, YoungstOvs
& Pittsburg railway were mentlous
as the matter in which they had bean
most crippled. This was security oyr
which the Bank OF the Republic d.
ctors had a difference about
d 0nth ago which resulted IN Presl.
ent FOrd's resignation.
The Bank of the Republic was one
Of two banks with which DonneI
Lawson Il Simpson did business
Simpson being a director in it. Il
was also said that Seney had unloadej
q lot of these bonds or the firm and
that their dependence on the Metro.
pOiitan was such that they could mol
refuse to be thus used. At the firms
office on the second floor 1G2 Broad.
way, a long list of notices from their
correspondents, stating where drafts
would hereafter he paid. indicated
how widely the firms business was
distributed. There were over tour
hundred banks for which they trans
acted New York business, scattered
through Georgia, Florida, Texas. Mis-
souri,, Kansas, Arkansas, Nebraska,
iowa, Colorado, Utah and other terri.
tories. Over one hundred bulletins
were posted on the door inside. Don.
nell and Simpson We're busy all day
trying to see where they stood. Law.
son is in Europe.
10 a Tribune reporter late yestel.
day Simpson said: "We are still fig.
uring up and trying to get to a poin,
when we can resume. We cannO,
tell yeu anything until about tO-mor-
afternoon. There is a prospect
that we will resume. That is the
p,int towards which our arrange
ments are tending"
HAS an assignee or receiver been
decided upOn?"
NO sir; nothing of that kind has
been or will be done. We shall not
make an assignment unless satisfied
that We cannot settle our business
satisfactorily"
"What are your liabilities
1--WE can't tell exactly. They arem
the neighborhood Ut $3,O0O,OOO."
"How much are your assets"
"Tney will be more than that. W.
shall pay every dollar, l now think"
"Is there any truth in the rumors
that Seney unloaded Cleveland,
Youngstown and Pittsburg on you;"
"Nota word Of truth in it. PreSi.
dent oeney has unloaded nothing on
us at any time"
"What has been the character Of
your securities ="
"They have been such as would
commend themselves to conservative
Judgment. The greatest srinkag in
their value has been in some railroad
bonds, upon which we made ad.
vances.'
"Huw much was your deposit in
the metropolitan"
1T was a good deal larger than We
could have wished"
"Can you not now resume now that
the Metropolitan has done so;"
"That's what we are trying to find
out. We shall know to morrow"
ut is understood that you have
been offered $2.ooO.oO0 to help you
out
Yes; S. B. Elkins offered that and
we were offered several HUNDRED
thousand dollars by cable. hat We
must see where we stand first"
The $2,OOO,OO0 offer OF Elkins was
made III good faith and may lead to
the establishment Of the concern
under a new name. All members OF
the firm are Missourians. Robert ".
DOnneIl, the head Of the concern,
Was formerly a merchant Of st.
Joseph, where he owns large real
estate interests and he is a large
stakeholder in the State Savings
bank. He is also senior partner IN
the banking firm Of DonnelI, Clarke
Larabie, OF Deer Lodge. Montana, the
second member OF which is a mi.
liOnaire. Lawson and Donnef
married sisters. The former was
lawyer at BoonvilIe. Mo. He is
member of the Union League and
Manhattan clubs. Simpson Lives
Orange, N. J.. He formerly resided
IN Kansas City. The loans Of The
house were all passed upon by hin;
The office of the bank was hesiesr1
all day long with messengers.