The Washington times., 1901-09-15
ALL EXCHANGES CLOSED.
Wall Street Shows Its Deep Sense
of the Nations Sorrow.
stock Exchange Governors Take
Early Acticn-Message OF Sympn-
thy From London Received-BanlSs
Compelled to Keep Open as Usual.

Compelled to Keep Open as Usual
NEW YORK Sept. 14.-Out of respec
10 the memory of the late President, th
stock exchange and all the other ex
changes were closed today. Similar ac
ton had been taken by the London ex
change, and a message of sympathy from
the latter was read from the rostrum her'
at 10 O'Clock. Wall Street in fact, showed
the deep grief felt and the financial dis
trict had a subdued air. Even the bois-
ferrous messenger boys who usually throng
the entrances of the exchanges showed
the general depression by an orderly de-
meanor quite unusual to them.
1t was later than might have been ex-
pected before definite news from the ex-
changes could be obtained. The foreign
banking offices were first open, and these
reported that the London Stock Exchange
would be closed Then the Produce Ex-
change reported that the management
would meet at 10 o'clock and order the ex-
change closed for the day. Shortly after
3 o'clock Vice President H. X. Pomeroy,
of the stock exchange, appeared at his
Office. and in the absence from the city OF
President Keppler sent out a call for a
meeting of the governors to be held before
10 o'clock, at which he presumed they
would resolve to close the exchange for
the day. This was done shortly before 10
o'clock, when formal meeting of the
board of governors was held at the ex-
change, and the following resolutions
were adopted;
''Sorrowing with the nation in the great
loss which falls upon us in the death of
our beloved and honored Chief Magis-
trate, President William Mckinley. and
as an expression of our profound grief
be 1t
Resolved, That the stock exchange be
closed today. Saturday September IA, and
upon the day of the funeral.
The Governing Committee also directed
that the loan market for loans of stocks
and money be opened from 10 o'clock in
the morning until Il o'clock in the morn
ing today. When the announcement of
the action of the Governing Committee
was announced to the board it was receiv-
ed amid solemn silence.
The following telegram from the Lon
don Stock Exchange was read this morn
ing:
London. Sept. Ii, 1891.
President Stock Exchange, New York:
No committee to form quorum, but
out of respect all members leaving.
WALTER THOMPSON
In announcing to the exchange the reso-
buoplSu OF governors.
Vice President Pomeroy said:
"A great calamity has befallen this
nation. Our President is dead 1t is not
In my power, nor is it my purpose. to de-
liver eulogy on this great man. Let
that be the task of ADLER minds AS
body we can do little more in words than
express our deep sympathy with his fam
lily and our sense of the loss we have sus-
lie 70
more by our actions to help the land he
served SO well. In a crisis like this it be-
hooves every good citizen to think of his
country first, of himself last. Let that
be our effort in this crisis. If We live up
to this ideal we shall have done our duty,
nothing more"
Manager William Sherer, of the clearing
house, said he did not think there would
be any meeting of the Clearing House AS
sociation, except possibly a spontaneous
gathering to formulate some expression
of coincidence. There was no occasion for
a business session, for all that would fur
nish any occasion for such meeting had
been settled in anticipation of any possi-
BILE trouble at the meetings held a week
ago. The situation was well in hand and
showed no threatening aspect Mr.. Sherer
did not think the death OF the President
could have anything more than a senti-
mental effect upon the business of the
The President was not an oper-
ator in Wall Street and had no interests
there that could be affected by his death.
He could name dozen men the death of
any of whom would have some rational
effect upon market movements, but the
President was not of the number. As TO
the banks, they must keep open for the
ira nsaction of business Their times for
opening and closing were fixed by law,
and the most they could do in such an
emergency as this was to limit their oper-
ations to routine and necessary business
]. Edward Simmons. President of the
Fourth National Bank, was early at his
office He said that Frederic D. Tappen,
President of the Gaiiatin National Bank
and chairman of the Clearing House
Committee was in Lenox, and was not
expected to be in town today. Mr.. Sim
mons said the banks in general would
have to keep open, because they were
not voluntary institutions, but were gov
erned by law in this respect Doubtless
on the dav of the funeral there would be
a partial suspension of business to con-
form with the universal expression of
respect for the memory of the President.
The Produce, Cotton and Coffee Ex-
changes were also closed. The Produce
Exchange adopted the following resolu-
tions:
Resolved That the exchange be closed
for business today in recognition of the
deep sorrow which prevails all over our
land In the death of the lamented Presi-
dent of our country.
Resolved, That the vice president call
q meeting of the members of the eS-
@urr III fraGy
the sad event which has oYertaken the
nation.
Resolved, That a committee of five be
appointed to prepare resolutions to be
presented for adoption at such meeting.
Resolved. That the committee on rooms
and fixtures be authorized to suitably
drape the building
Resolved. That the principal exchanges
of the country be notified of the action
taken at this meeting.
Sympathetic messages were received at
the Produce Exchange from the London.
Hull, and Bristol Corn Trade
and the Baltic Exchange.
S. V. White cabled his London CORE
spondents after the message from the
stock exchange there had been received:
God bless the London Stock Exchange
for their manifestation of respect for our
iliustrious dead. Truly. we are one in
and in national greatness"
Among the cablegrams received by the
Produce Exchange from foreign ex-
changes were the following:
Liverpool Corn Trade Association de-
plore calamity that has befallen American
nation and the whole civilized world, de-
sire tender respectful sympathy Ex-
change closed BARBER, President"
The Bristol Corn Trade Association re-
ceived news President McKinley's de-
cease with feeling of deepest sorrow. and
tenders assurances sincerest sympathy In