davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-15
ACTION OLE SECRETARY FOLGER.

Secretary FOlger was in town for a short time
yesterday. He was his way to Washington from
hishome at Geneva On learning OF thu gravity
OF TIE situation he went TO the Sub
Treasury and remained with Assistant Treasurer
Acton for several hours. number OF bank presl-
dents and Others who had learned that he was in town
called on him Among these were W. W. sherman or
the Bank Of Commerce; A. 8. Hatch. OF Fisk Hatch
president OF the Exchange and President Baldwin
Of the Fourth National Bank Mr. FoIger expressed him
self a. willing do anything in the OF purchasing
bonds that could be done with due regard TO law and
the interests Of the General Government lie sent the
following telegram:
OFFICE ASSISTANT TREAsrRER I. &, NEw-YoRK
CITY May Il, 1911.
To r. T. French. Acting Secretary " me Treasury
Washington, y. q; 49,
Announce mat bonds l27th call due June 90 viii he
paid on presentation, though moi payable by terms Oh
call win interest date of payment
CHARLES j. FOLGER, Secretary.
This il call for 600 OF three per cents. The
probability is that in the request il urgent the
secretary will issue another call 1000 600 Of bonds
This would place circulation S2O00O,OOO, and would
20 sar 70 prevent monetary stringcncy.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-15

suspension. From recentreports Of theexaminer the
New-York banks in general seem to be in good con-
diton, and with few exceptions are doing business
in accordance with the banking act. There is moth
ing in that act, however, he said, 10 prevent poor
management the part of directors and officers oil
the bank. Banking is like any other business and
people can rely on the business Judgment of good
men in times like these. Wherever experienced
and honest men were in charge of the banks be
could see no cause for serious alarm.
In reference 70 the condition of the banks Of the
country at large the Controller said that they
seem TO be IN an exceptionally strong condition,
most of them carrying unusually large reserves.
The condition of affairs is entirely different from
that of 1873 and the Controller does not thlnK
that general panic Is possible.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-15
THE ALBANY EXCHANGE BANK INVOLVED.
LEY rELEGKAPn I'D TIE TKLBINE.l
A FLCRRY IN NEW ORLEANS.


NEw-ORLEANs, May 1.-THE excitement and
suspensions at New York market early in the
day in wild and exaggerated way that some rmid
holders Of Louisiana and premiums let 20 their
bonds which gave the bears an opportunity to raid the
market sharply and deprcss Louisiana seyens
al the noon call " SO and premiums
10 s4l4. After the noon call tue
news from NewYor better and the bear onset was
more vigorously causing rally at the D. m call,
louisiana seveus closing C5a 10 66i2 against GLE to
YESTERDAY and premiums at s45s to ~, against asa to
81 Yesterday In addition the effect on the prices Of
bonds the excitement caused great strngency in the
money market As the banks called in their loans rom
even the best borrowers and margins were demanded
freely and urgently insisted upon The action Of the banks
caused furry among ali all classes OF business
men but all calls promptly met and not a single
failure reported The money MARKET AT the cinse was
Call the banks and the street, per cent eI-
ceptiOnal paper per cent; loans on c0uateras To
y and best mort gaze paper 1OS per cent The general
belief here thai the worst Is aud no alarm is felt
a The future.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-15
THE SITUATION IN BOSTON.
BANKS AND BROKERS EXTREMELY CONSERVATIVE
THE FALL IN MEXICAN BONDS.

BANKS AND BROKERS EXTREMELY CONSERVATIVE
THE FALL IN MEXICAN BONDS.
BosToN, May 14.-The banks in Boston act
ing correspondents Of the suspended Metropolitan
Bank OF NewYork were all visited the failure
announced, with = view to asceraintng the amount
OF balances between them and The Metropolitan, and
the probable effect upon the stability Of the institutions
In each the officers stated that the balances were
small and that their houses would be in nowse affected
by the failure.
For the last three four weeks Boston brokers have
been conservative in anticipation Of the present result.
and the average daily balances in that time standing
against Boston houses in the offices Of NewYork brokers
have been between $500 and 800 that the Boston
brokers have been prepared for the worst The offices OF
OF the large brokers here have been beseged to-day
by persons who carrying stocks on margins and
were anxious make good their account For the first
time the experience Safest. the checks
fused until examination could he made 10 satisfy
the broker that the money the cheek represented
actually Deposit and although it
can be said that there excitement eau also be
asserted that unusual feeling Of distIst prevailed
AT the Office OF the Union Pacific Railroad Company, in
the Equitable building the conservative policy
pursued and made until the
satisfied that each transaction represented delivery
of money.
In spe Of the confidence in the stock Exchange here
this afternoon large blocks Of Mexican bonds and Atchi
securities thrown upon the market. Mexican
bonds declined rapidly from AZ and fraction 10 40 the
lowest point they have reached. They afterward
rallied to 43lo hut subsequently declined again 70 AZ
Mexican stock tell of cent IRON the opening price,
and Aichison stock fell OF per cent In the after
the transactions confined exclusively 10 Mexi-
AchsOn securities. which remained weak To the
close the na prices being neatly the lowest figure OF the
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-15

DIED.


BATEs-At Chilieote Ohio May H. Heller Bar'let wit
OF James Wrnot Bates Boston eldest gutter OF
lnteriHeat al Greenwood Nsy ij Al / p. m
BoKEE3on Wednesday morning; Nay a. Jennie Knight
Funeral services from her ae residence 4s3 cumDerand
CONEYIn tins city May ~. 1851 Elizabeth Eaton only
Funeral services Thursday May Is 1854 at oci5eE D. n.
CROss-Tn Westerly R. l.. suddenly John Hobart Cross IN
the xtythiId year OF his age
Pensacola and Galveston Tex. papers plcasecopy
DAY-Tuesday. May l3. Elias 4. Day. ia his ID year
late residence 2Is West ih.st.
II Is requested no flowers be sent.
EDG ERTON 1-At dIyergool ENGLAND A'y ISL Jane,
Closson tagerton, son or dfs NJ. T. Edgtrton aud
Friends invited his Cinoei o. the
Broadway tabernacle. corner 5ih-st and 6u ave.
It IS req Tested that no dover. be sent
GREGOEY-At orange Valley Ne~-Terscy. Nay n. Re.
Frances wife Of Dudley Gregory and daughter u
the late James v Clney
church .! The Ascension. 5.aye
81. FRIDAY May H. al oc.ock.
HENDRICKs-On Welne -,iay, May a. Montague VI Hcn.
Relatives and friends are Invited to attend the funeral ron
his late residenc. 4O4 5thavc, friday Afternoon.
Please rcfrain from sending aowcrs
O'CoNOR-At Nantucket, Mass, Monday, 18th inst
F1lera services at IT. PauicAs Cathedral on Friday 18TH
Friends are respectfully invited without further
notice.
Edss wife 81 A 92eiesn age a. Years - '''V
Funeral services AZ II south poriandaye" Brooklyn on
InterInent private.
sYTHE-9p ws,nssday %SrpnT May T. Ia q Tie
St Henry a snyhe IN me On ss ;a, q hs age With
further notice on saturday morning It'll INST, az 10
o'clock from the Church Of the Ascension. 5thave aud
1t IS kindly requested that flowers be sent.
-rII ES-May ~ az her residence DeokertoEn,
\ j. Evele Howell. widow Of Edward A. stiles aged 20
years.
\ y al residence Of her father James : McEnCe.
Augusta. wife OF Joseph l. lonkhs OF H4Asbolo, y H.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-15
MR. sAGE,s "PTTTs AND CALLS

large amount Of stocks was put TO kus-
sell Sage on his privileges yesterday. "hen tne
hour OF las 1.-THE usual hour came tno
receiving Of stocks was stopped promptly. long
line OF clerks and put and call brokers WIN
stocks in their hands was still IN Hon'
OF the window and of them complained Loudly oe-
canse they had reached the Office before the tx
piration Of the hour. Mr. sage gave them
no satisfaction. and was Obdurate 10
personal appeals by brokers whose messengers had re-
ported their inability deliver the stock In consequences
OF his refusal 10 vary from his usual custom II
was currently reported in Newest that Mr. sage had
laid down" on his privileges. Some OF tho
put and call" brokers sent notices to MN
that they should sell the stock on his account
to-day and the CONSERVATION among them was eonsdera
bic. They cooled the afternoon when they re-
Gected that some OF their rumors involved Mr. sage
failure Mr. sage remarked about the matter
"Oh. have TO he very careful In dealing Win tne
boys. for they are extremely smart some OF theln
would take the c0npers from a dead mans eyes VI
course / would not take stocks after LAD, ana u
aid FL FOR 81 them the whole PACK
would Dc have lust refused one who used 10
be clerk in my Office. have no faVOrlST,
aud on a day Hike this I certainly cond
have none have received and paid for all the stocks
delivered today at the proper time. No, cannon
tell the amount. but u ~ q pretty large one -.
II estimated that Mr.. sage had received apoui
10000 shares OF various stocks during the day.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-15
nyPTT a. cos AFFAIRS.

+. W Dyett a brother of the senior member OF
the firm of Dyett & Co., bankers and brokers at No
so Broadway. through whom John {. Emo, the
recent president of the Second National Bank
transacted many of his stock operations, SAID Late
yesterday:
We have through the day all right. We have met
al our obligations, ana prepared 10 meet others ~
they fal due There any reason Tor orr Deg
placed IN the position were put IN by the continental
Bank went 10 tins bank Yesterday and was tOd thdi
the bank would not certify our cheeks.
/ asked the president why this Wa
dons and reminded him that had
5000 900 Of securities lodged with the bank. We only
asked for S750OOO certihcation. took from my pocket
$4,000 more Of securities offered them IL addition
20 what We had already there. Stl the certcatou
refused. told him n he persisted IN this course lac
would precpitaJe panic. and that Dyett a Co ne
last firm u lie down on bank. To-day my brother went
the bank accompanied byrOunse, checks
certified our customers putting up margins TAX
ing up loans a. called for and shall go right on
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-15
SELLING STOCKS "CNDER THE RCLE.'


The transactions under the rule at the Stock
Clearing for Hatch * included the following pur
cha.e, Central Pacific 800 shares; Rochester and Pitts
burg. 100; Chicago and Alton 200; Western Union.
200: st. Paul 100 Delaware Lacliawanna and Western.
1000; and Northern Pacific preferred 300 sales:
Erie second consolidated bonds, $4,000; Chesapeake
and OHIO class b bonds. $1,000; Northwest common
500 shares; Delaware. Lackawanna ana Western
900: Eric, 600 Central Pacific 1000 Union Paeihc
400: Texas ana Pacific 200; New-Nork Central Zoo
Long Island POO and Chicago, Burlington and Quincy
Is
For Hotchkiss. Bnrnham & Company tho following
sales were made New York Elevated hrst7. 900; Met
ropoitan nrsts - OOO Richmond and Allegheny hrsts
$40 900 81 Paul, Southern Minnesota division hIals
~ 600; Texas md Pacific 200; Delaware iAeh"Wana
and Western 300; Western Union, 100 oregon ana
rspscontinental 100; and Norfolk and Western pre-
fered, 100.
For Nelson. Robinson K Company the sales we're
SIS 600 East Tennessee. Virginia and Georgia cOl7As
and 100 shares OF Western Union. - IA ,,o
For J. G. Williams the shares were; Union RACINE "oV
Central Pacific 200; and -. Paul, 100. .-..-..
The sales FOR the firm Of o. NJ BogFl * t,oilplny
were AZ follows: Lake Shore, 1000 shares h.aihE
wanna and Western. $500: West shore, ~ hhaIus
Mch an Central. 1905 &. b. and q, IOWi Ne s loIA
Central. IL 90; \. and W. 200, Northern fH1lhC ~
ferred, 500 Northern Pacific 1905 Lake E4ls M, nsu
Western, s. Rhode Island. loo; ST PAU PiteIiou
Central Pacific 900; Canada Southern, loo FsSiC MAJ
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-15
WEDDINGS YESTERpAY.

Miss Louise Adelaide Longhi. daughter OF
Mr. and Mrs. john n Longhi, married 10 FTihA
Henry Tyor last evening at the house OF the Ondes
parents No 800 Willoughby-syc. Brooklyn. The cere-
mony was performed By the Rev. k d Montgomery as
sisted by the Rev. Hiram Hutchins. OF the bedford
Avenue Baptist Church. he best man WIS Charles C..
Neville The ushers were j. A. FlomeryeL j. A.
Pfarrc ". H. Bogert and W. W. simpson. Miss
Tyler the brides sister. was the ma'd OF honor.
The house VIVA decorated with flowers and the
tories and grounds hung with ldhterns The re-
oeptlon laAied until y. The brides father liz man
apr of DrlmOnico's Broad street restaurant The groom
Is with the Carbin Banking Company, nom which he
ceiyed a handsome check The brides father gave "a
brOwu-stOue house.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-15

when they we're surprised by this tumble they could not
lay their hands them for negotiation Then the FAILURES
OF the Marine and Metropolitan National Banks nave pro
y0ked feeling OF insecurity and this morning. wDen the
latter institution closed ts doors, the brokers customers
came to them I'm hocks and demanded their coateIhs
The firms not all IN position respond. and, in
consequence. they were obliged to suspend.
Wasthe number OF stocks sold under the rules TOT ss
pended firms larger than you have known on the tx
changed
No. comparatively moderate. fail to find any ndica-
tiOn In this trouble TO make me believe that there II any
thing In It more than a temporary Inconvenience To-
morrow i think you will not notice that anything u-
usual has occurred I'm the Exchange.
DO You regard the condition OF the Second National
Bank serfOusl
Not bit OF IT, That bank IA rs sound ~ rock and
doubt very much II you will hear OF any other banks
getting into trouble tor some time
Did the failures to-day affect your firm in any wayi
No, not in the least.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-15
THE CLEARING HoTsE,s ACTION WISE.

Jesse SelIgman said to a TRIBUNE reporter
Last evening think the worst OF the storm is over
The failures to-day due simply 10 want OF conf
dence They not my opinion, directly raceaDie TO
the failure Of the Marine Bank and Grant Ward last
week. although OF course the troubles Of these houses had
considerable effect producing this feeling OF dstrus
Tee action of the Clearing House very wise meas
In adopting the resolution which practically inc0r
pOrated all the banks OF the city in the officers OF
these banks adopted the only when would stave
OF the troubles which seemed to be impending II was
only following out the precedent established IN
England, where in similar crisis, by
special Act of Parliament, the Bank Of
England permitted issue additional bills. The
bank permitted to issue bills 10 the amount or
$1,000, 900, but the action OF Parliament had Sncn
reassurng effect that bills were issued only 70 nominal
amount, There question whate in my mind 10
the solvency of the Metropolitan Bank but IN view or
the aOat and the pancEy state or the mar
the directors Of the bank adopted the wsest course
In closing the doors until II was definitely known what
the situation thus protecting the dcpostOs and the
stockholders IA we'll
1t is my belief that the failures caused BY Cd e
general shrnkage values during the Last TWO years
The country good condition and. think. as soon ~
confidence s restored business or all kinds VIII improve
and take The Of the Second National
Bank viii have marked effect in restoring this feeling
Of arfl lance
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-15

Letters Tor Europe 'ciAly directed f0r Is
nath bv particular order % secure sroy 10
livery al transatantl mails forwarded
i,v me flstrsI vessels ayalapio
porelen mails ondag Nay l. viii "iOss H tB
TIL NN-At 30 a. Tor Europe per Alra'ic
Queenstown, Do for Para, b'aA per =. GYM. AZ
No. M for BERMUDA per =. =. Drnn az I m Tor Porto
kico direct. Andes at l.au TO- cubs. rDrfo
RICO MCyco. per = e. cay OF Meraa "a II AZ
$50 D. m iior IraXlo and Ruatta per T. = J. Olcr
via orleans.
FIIDAN-At q "a. m for Newfoundland and 81. Pierre
MQueion. via Halifax.
sArC kDAN-At a. M. lor Europe per City Of ROME
queenstown uegtcrs Cor OerInsuy. etc. De
reoted per city noae 81 a. f0r hurapa per
of Berlin via QucOns lettors must be IA
tecied per city of Berlin as SO m ior -cutlaad
d.recl per leYOn4a VIA Glasgow 20 $50 a. FOR
belgium direlt per . .. geunltud Antwerp at 4
Tor Europe per . udof. southampton and
Bremcni $3.50 p. Tor Cuba aud The cat in,es per
a port, Havana
SINDAN-A $50 tor Honduras and LiYin ysinn, per
lty ~ Dallas Nls NeN-orieans
Mails emma and Japan. oceant1 wa Saa
tIancsco close May 20, at y. Mails for a.
tTuiia NewLealand sandwich and Flu Islands per
Au.tfana Francisco close here May 81 az .
D. M o. 90 arrival NoY.NOrk OF s. s. CITY Of Chez
British mails Tor Australia.
The schedule closing OF anspacne nails arranged
presumption N uninterrupted overland transit
san Francisco Mails frOm he East arriving
the day VI sailing OF steamers dispatched
'A'"'' '"' '''' HENRY c. PEARSON Postmastsr
Post Office, Nss.York. n. " MAY y. los<
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-15
THE FALL IN PHILADELPHIA STOCKS.

PHILADELPHIA, May LITTLE drop in prices
here this morning wac solely due TO sympathy with the
Wall Street market Those Philadelphia stocks which
are listed on the NewYork board the heaviest suf
ferers Readng opening at II and dropping in few min
ues TO 1913 Pennsylvania fell of one dollar to So The
Northern Pprihcs also felt the pressure The common
stock fen one and half per cent while preferred touched
40 D. but quickly rallied to 45i9 One failure was an
nouuced that Of NJ Bayard. small operator who was
long of Reading and Pennsylvania and whose holdings
under the rule IL IL not believed thar his
liabilities will exceed $4,000. Prominent bankers EN-
Dhaticay expressed the opinion that the Phadelphla
banks which notably conservative, would not be az
fecfed bY the trouble in New York.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-15
PANIC IN THE OIL REGIONS.
rpv rrIrGRAPE To THE TRI8uNE.I

TITUsvILLE, Penn, May 14.-The scene at
the Oil Exchange to-day wholly without parallel
in the history Of the trade. RumOrs OF trouble in
New-York were in circulation a few minutes
before the opening the market and created extreme
suspicion Bidding began 81 4, and hung there for
few minutes until reports from we're confirmed
About 1890 a. general selling began. In half an hour
nearly 900 600 barrels OIL had sold and bidding
was down in the eighties. The rush W sell exceeded
even thar In the panic or the fal Of lsS2 The excite
ent sed throughout the forenoon but subsidized IN the
afternoon when occurred sharp reaction 10 - cents
~ Sqi 81 for there has not been single failure in the
citv trade and the prospects there will not be.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-15
THE FEELING IN WASHINGTON.
USANIMITY or BELIEF THAT NoLocAL BANK WILL
BE AFFECTED.


AFFECTED.
WASHINGTON, May 14.-Great interest was
manifested here to-day the from Wall Street but
outside Of the spectators there OF the excite
ment that betokened a pecunlary interest Nobody
seemed uneasy about local banks The brokers' offices.
banks and places where tckcrs are 10 be found were
throngcd and in the halls and corridors at the Capitol
almost the only topic OF discussion the financial sit
uation. Interview, With the officers Of National Banks
and the private bankers OF this city develop entire IMAM
unity OF statement that there IA MOI the ightest ground
for uneasncss regarding the condition or financial hSt
ttiOns IN this city There n no expectation that any oi
them Will nc affected by the NeW-1Ork Ialiuies
Mr.. Pearsa, cashier Of the Citizens NatOnAl bank'
satisfied that Washington banks VIII NOT De az
fected. Mr.. de. OF Riggs CO.. Thought that t1e Ne"
York troubles had reached theiP eliminating point anu
would result IN nothing than shaking our vi rev
weak concerns. As for Washington Dahks; nc has ho'
the slightest that they would be affected by the NrW
York failures. Il d. Cooke OF Cooke * o. -,'I nc
banks here will not be affected BraditFtets " ishhs-
ton Agency reports that the banks IN TINS cry VIII Ao' DC
Affected by the AeW-i York failures
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-15
JAY GOULD IN A HOPEFUL MOOD.

just at the close of business Jay Gould SAID
TO a TRIBUNE reporter
This disturbance to-day seDseless thing. IL mas
come from fear OF each other by both banks and brokers'
think rather than from anything else. The genera
calling Of loans has been wholly unnecessary and FOOLISH
suppose tae banks are little cautious than usual
on account of the loss accidentally suffered by the FIRST
National last week. But think the worst is over Peo-
pie will regain their by morning and there
VIII be orders here from al the com
try from persons eager to pick mp bargains
The action or the banks is an excellent thing and every
one will scr that there can be no panic while the banks
stand together. that all this excitement Is a,
an eud."
As Mr. Gould turned away from the stock Indicator.
which had finished the closing quotations be remarked
never expected Western Union sell below %
however The company is certainly earning its dvi-
de and this trouble to-day only adds 10 It's business
should suppose that of the brokers might nave
realized that fact to-day"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-05-15
ONLY A TEMPORARY INCONVENIENCE.
4 l..


prize Ajax, bis Office In the Mills Building, ana
convcrscd with reporter about the failure. e said
This furry-for 7 regard n nothing more than
furry the things which inevitable Know
ing nave been watching preparing for u Tor
months and careless have allowed fhe signs OF the
pass by them without taking advantage oI them
and interpreting them 10 their safety. That ls what
caused the failures to-day. Or the last six months the
stock market has been pbenOmenaly dull Buyers have
regarded with suspicion and have not sent IN their
orders with sufficient plenty hold II up. They have
been wary drcadng that the imitation OF the last year or
would bring with ita dark side, and fearing tnht
they invested that their end Of the market would 20
down with them. and leave them their backs This,
think by the large number or orders for stocks
which flowed into tie Exchange almost Immediately
after the failures. The hugy thing which the money
market needed most ~ any thing for II Will set Inc trans
acri0ns back sound basis. There was growing
cancer among u. and II was cut OF
Then YOU don't think that this Is the beginning OF
paniCi -
/ do not There il necessity for one. The country
In excellent condition The crops ore IN far prose
of beng good there il plenty Of money IN circulation
there b confidence In the Government and although
there are shipments OF gold % England those shipments
mean nothing more than that when necessity demands
We can obtain gold England No, sir, this - not
panic A few firms have been speculating Wildly anu
have had their securities cd up 10 such An extent tAa