New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1888-03-14
BUSINESS DOWN TOWN.
THE EXCHANGES CLOSED AT NOON.

THE EXCHANGES CLOSED AT NOON.
| BANKS. BRoxERs OFFICES AND orHER NsrITu
TONS SNORT HANDRD-YATR PLAY.
The attendance at the Stock Exchange WA
not larger than on Monday, and the necessity OF 9
further postponement was evident from the open
ing. The dealings were lifeless and prices viz
tually nominal The few members agreed to the
resolution passed on the previous day. AND
fortunately q majority Of the governors was found
to be present. meeting Of the committee was
held at IL :I5 O. m, and. on counting noses,
twenty-five OF the forty members had been gain
cred together. There opposition to the
following resolution:
Whereas Tho Unprecedented severity OF the prevail
ing made IL imposs BILE for the larger number
Of the members Of the Exchange 70 reach their places
OF business and perOrm their usual and necessary bus
ness duties and
Whereas The committee are informed that many Of
the banks prevented from ransacting business 10
their usual way owing 70 tho unavoidable absence o.
Officers; and
Whereas. In consequence OF this, 10 has become
physically impossible to transact business In the regular
manner; therefore
Resolved That Inc Exchange adjourn at ~ o'clock
m. to-day; and. further. this committee recommend
that tho settlement all DO extended until
tomorrow, the 1ith Instant
CLOSED UP At NOON.
The Exchange closed at noon. to the great
relief of everybody interested in stock spccula-
ton. 1t is probable that similar action will be
taken to-day II the embargo laid on business
should be raised before noon. The principal DIM
culties in the way OF rcsuming business are the
lack Of telegraphc facilities and banking accom-
modations and the enforced absence of brokers
and bank officers. The American love Of " fair
play" probably the best thing taken from the
English, alone has restrained members OF the
Stock Exchange from taking advantage OF their
absent brothers little uncertainty about the
result, II the advantage should be pressed q nt-
tie too far. may also have something to do with
the unanmty with which trading has been sus-
pended IL is certain that there was no hint yes
terday OF the shameful proposals made by few
brokers on Monday.
York Is striking example Of the great incon-
vensnce caused by the storm Presi s.Snr f a.
wards lives in Brooklyp but on Saturday With sS
friend Nothing has been heard from nm
since, hut those who know him can imagine his
frantic efforts to escape from his mprSonmsn nt:
On account OF his absence the vaults OF the bank
have not been opened since saturday. because
he alone holds part Of the combination to the
locks The bank has probably more broker &c.
changed from the National 10 the state systrin
few years ago that i might give still greater
attention TO It's Stock Exchange business. The
hank was fortunately creditor at the Clearing
House on both days. although probably In the
other event the associated banks would have nc-
cepted simple memorandum Tor the ihdeo'eu-
ness
LITTLE DELAY AT 1Hr CLEARING HOUSE
The settlements ut the Clearing House were
made with less difficulty than on Monday, and
there was little or no delay. Newton Squire,
assistant manager, who has conducted the ex
changes in the absence Of Mr.. Camp, was inclined
to boast OF his success. The record or the
fully exclaimed. and while the Stock Exchange
and similar institutions have been forced to sus-
pend business. there has not been day in
twenty four years tat the exchanges at Il clear
House been
At the Sub-Trcasury the business was lighter
than on the previous day, hut more OF the clerks
were at work. IL was noted rs a rcmarltable
circumstance that not one Official letter had been
received from outside the city limits The count
ing OF the money in the Sub Treasury is going on
slowly but it probably Will not be completed
within two weeks
EXPERIENCES OF BANKERS AND BROKERS.
One OF the missing bank officers who reached
the street yesterday was President Randolph, of
the Continental National Bank. lie lives at
I,ivcrdalc and he spent Monday night in q rail
road Train above the Harlem R,vcr Win sev-
eIa! Otncrs lie worked MS way down ~ the city
y CsJcrudy, but lie mds completely cAIiausIeu anu
spent vhIy "a short time AT the bank.
j. EDWARD Simmons, president oil the Fourth
National walked down from his house III FilJy-
,cconu-sL. Oil MONDAY ana Tor lack OF better
mcans oi loconIOJ,on walked back alter the close
li business. lie WAS 80 fascinated with the eX
,rclsc that yesterday morning he again trddged
down town, when lie discovered that trains on
he CLERKS III the bank slept III tic building and
IN TACT, III many banks and offices clerks who
lvcd at distance did not attempt To reach their
homes Edward LluterDack, tine lawyer VICE
president OF the PcInc Mail Steamship Company,
got as far uptown the Aston House anu When
he found that hc could not obtain Il room, peace
July reiraccd his steps to his Offices III the Eqiut
able Building.
Russell Sage was at his Office yesterday, hut was
not ln:ued 10 td,h freely about the blockade Oil
the elevated railroads lie was clcaly OF the
opinion that the storm was the most serious one
ne had ever seen IN New-iork.
Pres dent Sloan, of the Lackawanna Railroad
suffered no bad effects from his exposure on Mon
lay and evidently thought that it wash going TO
be much OF a shower anyway. lie had no cheerful
lews from his railroad.
j. Picrpont Morgan disdaincd 10 ride home yes
erday, but with "a fur-lincd Overcoat and a stout
stick strobe up Wall-st in his usual fashion. |
The Wonmser Brothers had their sleigh call Tor |
hem.
Az the other Exchanges the stagnation Of bust |
less was practically as complete as on Monday, but |
he reaizat Of the helpless condition OF the city
vas formally recognized No business done |
Ifter the noon hour There about the same !
at the opening of the Consolidated |
stock and Petroleum Exchange the day pre-
,ious, but little disposition shown TO transact |
business. The stock department adjourned !
Il pm. and no call Of mining shares was made
whatever. The dealings In the oil department.
we're light but fair telcgnphc connection was
njoycd W tn the West The noon hour ended the
nicial trading but some Of the brokers fingered
he Petroleum Exchanges at the West. Prices
we're firm and there was general satisfaction that
10 serious attempt had been made to demoralize
alnes under the extraordinary circumstances that
ulrd
The Produce Exchange presented even more
deserted appearance than on Monday. Less than
nc hundred brokers the floor and the
flices in TIE big building generally closed
Some OF the commercial reporters had more
if1iculty in reaching the Exchange than on the
ay when the blizzard ragged the worst. The
CHEST experience was that Of w. NJ. NJ Cornish,
rho walked about fourteen miles ia reach his
ost of duty. lie walked from Bellcville n. j:
D Newark IN hopes OF catching q train but found
here was little prospect Of getting by rail TO
crscy City. In defiance Of the blizzard he walked
D that pacr. and got over the ferry after spending
n bour and quarter on the boat. Tie started
rom his home at 80 n m. and reached the Pro-
ucc Exchange after half past pm.
Only the wheat market showed animation hut
here the cash purchases were made for immediate
eccssitics Skv-lai king' was indnlgcd IN ny
~ members present and at the noon call II was