The morning call., 1890-12-10
FINANCIAL STRESS.
Action Of the Nltional Bank Of Commerce
Of New York.

NEW YORK, Dec. 9.-Ihe Board OF d.
TectOrs of the National Bank of Commerce
this morning took action, and resolutions
were read with view to relieving the pres
ent financial depression and keeping the
commercial machinery of the country in
healthy activity, authorizing the purchase
OF large amount OF sterling exchange and
the taking out of such Gle airing g-hOuss certif-
Gates as may be necessary to carry the rcsO-
luton into effect.
The Commercial Advertiser says: A
leading dry-.oods commission merchant
spent an hour or two yesterday AMONG the
dry-goods trade. canyassing the sentiment
with regard to the financial situation. The
conclusion reached is that the dry-goods
trade throughout the United States is in an
easy, prosperous and healthy co6iirion.
This merchants experience is that fully 80
per cent OF his customers are meeting their
bills four. five or six days before due.
WASHINGTON, Dec. 9.-The Cabinet met
to-day. 1t is understood the financial stu
aton was the principal question considered.
The President and others expressed salts
faction at the success OF Secretlry VIM
dom's efforts toward relieving the money
stringency.
MORE FAILURES.
NEW YORK. Dec 9.-Schedules In assign
ment Of the banking rirm of z. w. Gallau-
det show liabilities OF S7S3.oO0; contingent
Liabilities, .$1l7,0O0: nominal assets, $780,
600; actual assets, S54S, 600, ana assets held
by banks as collateral, S4) 900.
New YORK, Dec. 9.--The failure of Col
burn, Chauncey q Co. las b. en announced.
The suspension had no effect on the stock
market. The firms capital was $50, 900 to
S75,G00
Nightingale Bros & Night, silk manu-
facturers of Paterson, n. j., have assigned.
The liabilities are not less tnap $500, 900 and
the assets are believed to be only about half
that amount The firm has been in fnan-
ciai difficulty for some time, and for week
or two past has been trying to effect CON-
promise with their creditors, but the latter
insisted on an assignment. The firm has
been laboring under difficulties for seven or
eight years, and the failure of the chief sup
port, j. L. Walker, Sons & Co., last month
precipitated the crash.
Birchall & Hodges, builders, assigned to-
day, with liabilities at 100000.
The Sheriff has closed the factory of the
Standard White LEAD Manufacturing Com
formed in 1889, with an authorized capital
stock of 100000
MEADvILLE, Dec. 9.-The statement of
the assignees OF the Delamater Bank is not
satisfactory, and gives no great degree of
hope to the drpositors. 1t is said warrant
has been issued for the arrest of Victor NJ
Delamater. late cashier OF the bank, he being
charged with accepting money from depos-
ltoIS after banking hours and with full
knowledge that an assignment was to be an-
..
NEW YORK, Nov. 9.-Over S3,OUO,O0O in
gold will start this week from Europe for
New York. This will tend very strong ly to
relieve the money stringency in this coun-
try, the extent of which was shown to day,
when rates for money advanced to one
quarter per centand interest for no apparent
cause except fear on the part OF capitalists.
KANSAS CITY, Dec "a special from
Arkansas City, Kans., says the American
National Bank mas failed. The stringency
n axd I.
caused the suspension. The assets and
liabilities are unknown. The bank claims
to be able to resume in few days.
Ii Is understood the failure was caused by
the WITHDRAWAL OF funds OF the cattle men
who had to vacate the Cherokee strip. No
statement!has yet been made.
BOSTON, Dec. 9.-Whitter, Burdett s.
Young, wholesale clothiers. have assig ned.
Their Liabilities were $4,000.
MI. Whltten says the failure will not
affect the clothing. trade in general. 1t was
caused partially by the failure Of Potter,
Lowell d Co. aud Gardner, Chase & Co. and
the tight money market. He could not give
q definite statement. Tie firm is rated by
Bradstreet at $4,000 to $1,000, 900. One
gentleman, believed to be we'll informed,
100000 There is no verification of this
statement. The firm has been in business
thirty years.
G; w Ingalls,, side DEALER has failed.
Liabilities $500. 900.
Ingalls, was unable to state the amount of
his assets yet. He thinks they may equal
or exceed his liabilities. The direct cause
OF his failure are the stringency OF the
money market and his inability to secure
accommodation from banks. The firm has
twenty small stores in New England and
New York
MONTREAL, Dec. 9.-Lannalico FITS.
wholesale fancy dry goods dealers, assis sned
To-Day. The liabilities ar. $4,000.