New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1901-09-15
THE CITY DRAPED TN BLACK.
HOMES AND OFFICES AND SHIPPING IN MOURNINLNG-
ALL LOCAL EXCHANGES CLOSED
BUSINESS WORLD HALTS.
WALL STREET DISPLAYS EMBLEMS OF
ITS GRIEF-THE FINANCIAL.
SITUATION GOOD.

SITUATION GOOD.
No more impressive and convincing demon
stration could have been made of the high
spect and sincere esteem in which the business
interests of the country held the murdered Pres
ident than given yesterday in the course Of
all the local exchanges and of the leading stock
and commercial exchanges throughout the
United States in deciding. independently and yet
with such unanimity to suggest concerted.
action, not to transact business on the day of
the death of William Mckinley. While there
had naturally been much anxiety to the be-
havior of the stock market when the death Of
President Mckinley should actually occur. there
was also a general agreement that the POSSIBLE
ity of panic had been thoroughly provided
against through the measures taken a week ago
by the Clearing House banks and the big trust
companies and private banking houses. and still
in force, that disaster would when the
exchange should open. The prompt decision to
hold session of the board yesterday, there
fore. Influenced in no degree by considera-
tons of possible market exigepcies, but was
simply the carrying into execution of the gen.
eral desire TO show the respect of the Exchange
for the Presidents memory, as the members of
the London Stock Exchange had hours previ-
ously so strikingly shown their sympathy
BUSINESS FOR THE DAY SUSPENDED.
President Kepper was out of town yester
day and in his absence Vice PresideN Pom
roy. Immediately reaching his office, at about
$50. sent out messages to ali the members of
the governing committee who could be reached,
and in a few minutes succeeded in assembling
the quorum necessary for authorizing such q
step the closing of the Exchange The sus-
pension of business for the day al once de-
cded on, and the decision announced TO
the members at 10 o'clock by Mr. Pomroy. who
prefaced with the following remarks the reading
of the resolution adopted by the committee:
great calamity has befallen this nation.
Our President is dead. 1t is not in my power.
nor is it my purpose, to deliver a eulogy on
this great Let that be the task of ADLER
minds. AS a body. do little more In
words than express our deep sympathy with
his family. and our sense of the loss we have
sustained. AS individuals. do far more
by our actions to help the land he served so
well. In a crisis like this IT behooves 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 idea shall have
done duty. nothing more
Although there transactions in stocks
the loan market was open for hour. Ac-
cording to the standing of the borrower. rates
On stocks in the loan crowd varied from to 10
per cent. The demand was greatest for At
Gibson Union Pacific, Pennsylvania, Amalga-
mated Copper and several of the other leading
stocks. There also request for Brooklyn
Rapid Transit, which occasioned some surprise.
a that stock had not been very active in the
loan market recently.
THE FINANCIAL SITUATION GOOD.
There was no meeting of the Clearing House
Committee yesterday. Henry w. Cannon, presi-
dent of the Chase National Bank, who is acting
as chairman of the committee in the absence of
F. u Tsppen. said yesterday of the outlook
~ n
Clearing House. and l have had converse ton
this morning regarding the situation. Every
thing is quiet. and the financial situation is
good. There are no signs of any excitement or
panicky feeling in any direction. The precau-
tionary measures which were taken continue.
and consider them able TO meet any situa-
ton that may arise. There has been no meeting
of the Clearing House Committee and we do
not anticipate any necessity for action the
part of the Clearing House. The situation, how
ever will be carefully watched, as heretofore.
Mr.. Cannon added that he would be at the
Clearing House early on Monday morning, not
because he thought there would be any neces-
sty for his presence there. but simply as a
preCautiOn.
BOND PAYMENTS GO ON.
AS required by law. the banks open yes
terday as were also the Sub-Treasury and other
government offices. but it is expected that on
the day of the Presidents funeral the banks will.
as n rule be virtually closed leaving duty
only the number of clerks required for attending
to such business as ii is absolutely necessary to
transact. The Sub-Treasury yesterday paid out
an additional 100000 in payment for principal
and premium OF bonds bought by Secretary
Gage under his special offer Of September 10.
Besides the Stock Exchange. the Produce, Cot
ton. Coffee Consolidat ted Stock and Petroleum
and Mercantile exchanges closed yester-
day.
An effort was made to obtain from Mr.
Morgan some expression on the death of Presi-
dent Mckinley Mr. Morgans reply was that
while it was a sad OCCASION he had nothing TO
say for publication
DECORATING THE DREXEL BUILDING.
The financial district is in mourning. Wall
Street itself is lane of halfmasted flags, large
and small American and foreign and every
y known as Wall Street are displayed the en-
blems of sorrow for the Presidents death
The earliest preparation for the mourning
decorations on large scale in Wall Street ap-
peared at the DreXel Building. where the firm
of J. p Morgan 81 Co has its ofi1ceS. Soon
after the arrival of Mr. Morgan there appeared
a number of employees of the decorative firm.
Two heavy packing boxes and a sewing machine
were unIoaded on the sidewalk From the boxes
| were unpacked bales of Grape, which were
| stacked upon the sidewalk while workmen be-
gan to cut and sew long streamers OF the Sombre
| material. preparatory to draplng them on the
| wooden frames which are to be placed on the
front of the building. 1t is expected tnat many
| OF the leading banks, trust companies and other
! conversations and institutions will show their
| respect for the late President In a similar man.
| ner.
| DAVID B. HILLS COMMENTS.
Albany Sept 1i.-Former Senator David r. Hill
/ lang In m