St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-05-16
DonneI, La,cso,. lc Simpson.

NEW YORK, May 15.-The Tribune of to-mor
row morning will say: The statements by mem
Der of the firm of Donnel Lawson q Simpson on
Wednesday that their suspension was wholly due
to the suspension of the Metropolitan National
bank, were not confirmed yesterday, the Met
| ropolitan having resumed, and similar action on
the part of the banking firm was anxiousy
awaited. Toward the close of banking hours it
began to be whispered that their failure would be
total. The bonds of the Cleveland, Youngstown
& Pittsburg railway were mentioned
as the matter in which they
had been most crippled. This was the
security over which the Bank of the Republic
directors had difference about mouth ago,
which resulted in President Ford's resignation.
The Bank Of theRepublc was one of the two
banks with which Donnell, Lawson and Simpson
| did business, Simpson being director in it. 1t
was also said that Seney had unloaded lot of
these bonds of the firm, and that their depend
ence on the Metropolitan was such that they
could moi refuse to be thus used. At the FIRMS
office there was long list of notices from their
correspondents, stating where drafts would be
hereafter paid, which indicated how widely the
firms business was distributed.
Over 100 bulletins were posted oBthe door.
Inside Donnell and Simpson were busy all day
trying to where they stand. Lawson is in
Europe.
To Tribune reporter late yesterday, Simpson
said: ''We still figuring up and trying to get
to the point where we can resume. We can't tell
you anything until about tomorrow afternoon.
There is prospect we will resume. That is the
point toward which our arrangements are tend
ing
''Has an assignee or receiver been decided
upon?'
''No, sir. Nothing of that kind has been or
will be done now. We shall not make an assign
ment unless satisfied we cannot go on or settle
our business satisfactory without it,
''What are your liabilities?''
''We can't tell exactly-in the neighborhood of
S3OOO,O0O.''
''How much are the assets?''
''They will be more than that we shall pay
every dollar, 1 now Think
''Is there any truth in the rumor that Seney
unoaded Cleveland, Youngstown s. Pittsburg
bonds on you?''
''Not q word of truth in it. President Seney
has unloaded nothing on us, at any time.''
''What has been the character of your securi-
ties?''
''They have been such as would commend
themselves to conservative Judgment. The
greatest shrinkage in their value has been in
some railroad bonds upon which we made an ad-
vance, the Cleveland, Youngstown & Pttsburg.
Those and some others.''
''How much was your deposit in the Metropol-
itan?''
1t good deal larger than we could have
wished
''Can you not resume now that the Metropoli-
tan has done so?''
''That is what we are trying to find out, we
shall know Tomorrow
SIT is understood you have been offered $780,
000 to help you out.''
''Yes. S. B. Elkins offered that, but that would
only have been drop in the bucket. We were
offered several hundred thousand dollars by cable,
but we must see where we stand frst'
An attache of the firm told the reporter that
matters had gone so far that resumption would
be impossible. The 100000 offer of S. B. Elk
ins made in good faith, and may lead to the
reestablishment of the concern under new
name.
All members of the firm are Missourans. Rob-
ert W. Donnell, head of the concern, was former
ly merchant of st. Joseph, Mo-, where he
owns large real estate interests, and he is large
stockholder in the State Savings bank Also,
senior partner of the banking firm of Donnel
Clark & Larabee of Deer Lodge, Montana the
second member of which is a millionaire. Law
and EDonnell married sisters The former
was a lawyer at Bonneville, Mo. He is mem
Der of the Union league and Manhattan club,
Sampson lives in Orange, n. j. He formerly re-
sided in Kansas City. The loans of the house
all passed upon by him. The office of the
bank was besieged all day long, with messen-
gers, brokers, clerks, copying notices, and per-
sons calling to have signatures identified.