THE OMAHA DAILY EE
I THIRTEENTH YEAR. OMAHA , NEB , THURSDAY MORNING. MAY 15 , 1881. NO.-285 J\ \
WEALTH ON Wl
fall Street Rapiflly Drlftios to the
YorlDXOfaPanic ,
ADenso Mass of Maddened Hu-
.manity Surging tlio Streok
The Excitement and Orush Nearly
Equals Blaok Friday ,
The Metropolitan Bank Suspends
Payment on Deposits !
Second National Bank Protests
Its Ability to Pay all Claims ,
Three Lines of Frantic Depositors
Demanding Their Money ,
The Phoenix Refuses to Certify
Hatch & Foote's ' Checks ,
Secretary Folger Orders a-Oall for
$10,000,000 , , Bonds ,
A Number of Other Failures in
New York and Elsewhere ,
Chicago Stnnils Outwardly Finn ami
liots of Money.
TUB COMING CUASH.
OOULD AND THE WAI1ASII.
May 14. The Tribune
states that Jay Gould , proaidont , and
Sidney Dillon , of the executive commit-
tec , deny that there is any movement to
put the Wabaah into the handa of a re
ceiver temporarily.
SABIN'H FAM , .
Senator S.xbin loft last night for St.
Paul. Ho saya with assets throe times
its liabilitioa , nobody will aull'or from the
Northweateru Car company's failure.
The loss from suspension will bo light , if
anything. Telegrams from St. Paul say
affairs are oven better than anticipated.
A MEETING CALLED.
Noon A mooting of the clearing houae
is called for 1:30 : p. m. to-day to consider
the financial situation. The banks are
crowded with nnxious depositors. It ia
impossible to get near any ono in nuthor-
ity.
CLOSING BANKS.
The Metropolitan bank auspendod and
the doors are cloaed. George Seney ii
president. O. M. Bogart it Co. assigned
to John Wheeler , Preferences $0,000 Oil
stocks , guaranteed by Nelson llobiuaon
& Co. nro good delivery. Secretary of the
Trena. jFolgor ia in town nnd telegraphed
to Washington ordering the immediate
payment ol the 127th call for bonds. If
necessary ho will order another call for
SIO.000,000. The failure of Hatch &
Footo was precipitated by the Phojuix
bank refusing to certify chocks.
TUB UNION SAFB.
CHICAGO , May 14. The Union National -
al B ink of this city , which is the Chica
go correspondent o the Metropolitan
bank of Now York , states that it ovros
nothing to the Metropolitan , and the
latter owes the Union National nothing ,
so it is assumed there can bo _ no imme
diate effect of the failure in this city.
HIIAKY AND 8AFC.
NEW YOUK , May 14. The chairman
of the otock exchange announced that
the Sewnd National bank is solvent.
A. M. Bogart it Co. , bankers , suspended.
Nolaon , Kobinson it Co. announce all
active stocks carried by them were sold
yesterday , and people carrying them hi
loans need not bo alarmed , as they will
show th'cir books , provino ; that money is
obtainable for them. J. C. Williams ,
broker , says ho will announce his sus
pension later in the day. Several stocks
were bought in under the rule * this morn
ing on his account.
AlWOLUIELY HOUND.
The dealing house received the foUow-
ing from the national bank examiner ,
Schriba , after ho invostination of the
Second National bank : " 1 find it abso
lutely sound "
Hatch & Footo announce their sus
pension nt stock exchange.
l'ALE
In last vrook's statement to the Clear
ing IIouso the Metropolitan bank figured
as follows : Loans , 81,077,000 ; specie ,
§ 1,770,000 ; lognl louder , 3491,000 ; deposits -
posits , $8,425.000.
Bogart it Co.'s fniluro is con-
sidcred important , ns they were
largo dealcra in commercial paper , nnd
dealt somewhat m privilogca.
hUAT-H ON TUB KTHEKT.
Wall , Broad , and Now streets , sur
rounding the stock exchange , are filled
with eurgiiii ; masses , and the galleries
overlooking the trading room are crowded
to repletion. The cxcitemont on all
sides IB almost unprecedented. On the
floor of the exchange all is confusion ,
though little now bueincaa ia dene , Salca ,
on account of suspended firms , iiuiko a
show of business. The ( situation ia de
cidedly panicky , Further failures are
looked for , D.struat is the most promin
ent feature , und banks nro carefully scru
tinising accounts , Phiunix bank refused
to certify the checks of Hatch nnd Footo ,
and this was the immediate cause of their
suspension. A mooting of the clearing
house has been called to discuss the sit
uation , which is regarded as OHO of great
peril ,
FOLOT.H TO TUB FUONT ,
Secretary .Folger hai born at the sub-
treasury all morning , Ho was visited
bv almost all the financiers of Wall street.
TJo expresses a determination to use all
the power of the government to prevent
a panic and will act promptly to the ut
most limit of hisauthority. At 12:15 : Wall
street wan a mass of people from Tiinitj
church to the custmii house. Both side
walk nud carriage way were impassible.
At the doom of the suspended houses the
masses of humanity were the dncscst.
Many n disconsolate face gazed on the
closed doors , Among the crowd nro seen
SKVEHAI , WKM , DHESSEO LAD1KS ,
seine present from motives other than
curiosity. The news of the disasters
scorned to aproid with lightning rapidity.
Private carriages with liveried servants
from uptown are Hying through the
atrcols. Many now stand outsldo the
doors of bink * nnd brnking houses. The
directors of nearly all banki nro either
in session or present in the buildings ,
ready for an emergency.
HOW CHICAGO FUELS.
CHICAGO , May 14. 12:110 : p. in. Buy
ing continues free on 'Change ' nnd the
markets nro ovonstendior nnd stronger
than nt the opening. After the first
flush of excitement , produced by early
reports from Wnll Strcotpricea soon rose
to nearly the closing prices of yesterday ,
and nt this writing nro atcndy nt 8o ! ) for
July wheat , nnd 58k for July corn. All
subsequent news from the metropolis
hns foiled to seriously chntigo the situa
tion hero , and it hna nlao not tended to
lesson apoculntion in nuy way , but if nny-
thing haa heightened it. Locnl stock
rooms hero nro crowded to MIuoc.ition
watching Now York quotations , nud
apart from nuy effect of the panic , n live-
iy interest is taken hero in the situation
in Now \'ork.
MITCHELL AND THE METUOI'OLITAX.
MILWAKKE , May 14 , Alexander
Mitchell , president of the Mil-
the rumor. The Metropolitan ia ono of
the banks for deposit of Milwaukee it
Su. Paul funds , but they have not placed
a very largo line of securities with the
bank because the latter allowed no in
terest. Even had the bank failed , Mr.
Mitchel saya the Milwnwkeo it St. Paul
Co. would not bo in the least nll'octod.
IIo nddod thnt it could bo only n tempo
rary auapoiision anyhow.
THE OIL MAUKET.
PiTTSiiuna , Mny 14 , Tlio rumors of n
heavy -failure in Now York , nnd report
thnt the stock oxcnnngo had closed its
doors , completely demoralized oil trade
hero , nnd intense excitement provniled
in the petroleum exchange. The
market opened feverish nt ninety-
ono cents , nnd advanced ono
quarter , when there was a general stam
pede caused by the report of tno Wall
Street disaster. Immense blocks of
certificates were dumped on the market
and fern few minutes the prices dropped
to 87 cents. Heavy buying by shorts
had the effect of partially restoring con-
hdcnco nt this juncture nnd prices
rallied slightly , but telegrams announc
ing the failure of the Metropolitan bank
quickly destroyed the good ofl'ticts of the
short purchases. Trade became panic-
stricken , nnd the market declined rapidly
to 81J , closing at noon nt 81i , with the
feeling weak and unsottlcd. So far , no
failures are reported here.
THE METHOl'OLITAN 11UST.
NEW Yoiuc , May 14. The Peat says :
At twenty minutes after olovou a long
line of men and boys stood in frontof the
piiying toller's window in the Metropoli
tan bank at Broadway and Pine atroot , of
which Goo. T. Senoy is proaidont. Every
person in the line Held ono or inoro
chocks to bo codified , alarming rumors
as to failures in every direction having
made uncertified chocks of no value , no
matter by whom signed. Just at that
moment the paying teller shuthis window
and announced the Metropolitan bank
suapondcd payment as n matter of neces
sity and precaution. A howl of diamay
wont up from the linoof [ men and a break
was made for the door wherp a number
of depositors were met hurrying in to got
a denial of the rumored suspension. In
less than five minutes the iron doors were
shut nnd a policeman arrived to stand
juard on the _ stairs. The first story told
largo depositors who arrived breathless
and indignant , was that the suspension was
ordered by Souoy in order to prevent a
run , for which the bank might not bD
prepared. It was said by Mr. , Soncy ,
that if matters quieted in the afternoon
the bank might open in time for business
done to-day. This promise was accepted
by n group of depositors as small coin-
fart , and after twelve o'clock n crowd of
nearly a hundred persons gathered in
Front of the bank , bewailing their losses
The bank carried a line of strong stocks
The Ohio Central ia supposed to bo
among of Sem-y's favorite stocks , upon
which n large Hum wus lost in sustaining
the stock. The first rumors of Sonoy's
difficulties cama soon after the announces
mont of the fuiluro of Nosan ! , Robinson
it Co. As llobinson is n son-iii-hw of
Ssnoy mid ono of Sonoy's HDIIS is n
member of the firm of Nelson , Kobituon
A Co. , it fs supponed Seney would not
have allowed the turn to go
under had ho not been badly crippled
himself. At the oliico of Nelson , Robin-
eon it Co. , Nelson said the failure wns
occasioned by calls for money
from all quarters which
could not bo iminodntely _ mot
and by the general shrinkage of securities ,
the disturbed condition of the times and
the circulation of disquieting rumors. IIo
wns unable to furnish u statement of the
liabilities nnd aosots. Most of the loans
were well protected if the holders did
not lose their hoada and want to got thou
money in n duy.
A FINANCIAL OIIIHALTAU.
CJIIOAOO , Mav 14. There has probably
never been n day in the history of Chica
go when reports wore , more industriously
circulated with a view of breaking tno
grain markets than the present ono , but
they .stood thu strain put upon them
without wavering Interviews with eve
ry leading banker in the city tend to the
view that the Now York panic can
have no lasting ell'ect hero. It it
contended that banks which have failed
in New York are vrliat nro known as
"speculation banks" and should have IIG
bearing upon conservative banks oven of
the metropolis. Regarding the eflecl
hero , ono banker is quoted M declaring
that Chicago's banks have a plethora ol
money , and that the city to-day is a fi
nancial ibraltar which can bt > assaulted
but not injured.
THIIEK LINKS OF FUANTIO IIEl'DSIl'DUS.
NKwYiUK , May 14 , 2 r. w. A tele
gram from 2'ij alreot reports three linei
of depositors demanding money at tin
21 National Bank. It ia feurod tin
bank will stop ,
TWO WOMEN IN TEAHH ,
who had drafts upon the bank , Blood un
on the bottom elep. Among the deposi
f ( tors who appeared to know unythiiij
'about the suspension , it was said the im
mediate cause was the demand for more
than half n million by the clearing lioiuo
to mnko good iU account. The railroad
speculations of President Senoy nro gen
ornlly supposed to bo the real cause of
lusponsion , Mr. Senoy ia provident of
.ho East Tennessee it Virginia rnilwny ,
jho stock of which is soiling to-day nt 5
'or common nnd H for preferred. Largo
clocks of this stock were bought loss than
i year ngo , supposed for the account of
sonoy , at 11 or 12 for common nnd 21
'or preferred. The itock has boon sink-
'ng over since.
CHAT OI1 THE CUASH.
\VALL SmEr.T , ! J iM. . At 1 tf'.t ' the
excitement subsided to n great extent ,
uul better feeling prevailed , but the sit
uation is by no moans settled. The gen
eral impression is
THE KND IS NOT YET.
It is stated the largest denier in privi-
egos on the street was compelled to re
ceive 200,000 shares on "puts" . This
argo block must have called fur n heavy
Irani oven on his immense funds.
It ia stutod Seo'y FolgorM invited to
ho meeting nt Iho clearing house nnd
ho result of their conference is nwnited
vith much interest.
Uroxol , Morgan t Co. received word
rom their Philadelphia house thnt they
can have nil the money they wnnted.
The board of managers of the stock ex
change has posted nil official notice thnt
, ho exchange will not close until the
isual hour.
Rumors iill'ecting several National
xmks continued flying nbout the street
nit none are trnced to n reliable source.
WILL .STAND IIV EACH OTlll'.K.
WALL STUBST , At the clear-
ng house the bank presidents nro in ses
sion. It is stated on the best nuthority
.hat the banks stand by each other ns
.hoy did in 187 ! ! . The resumption of the
\Iotropolitan \ is likely. At the stock ex
change the delivery hour was nwnited
with great nnxioty. Mr. Simpson , of
Simpson , Lawaon it Co. , being nskod
whether it wote true the firm hud $2,000-
300 deposited in the Metropolitan bank ,
refused either to confirm or deny the re
port. The entrance to the Metropolitan
bank ia blocked by depositors , collectors
nnd others.
MONEY 8IX I'Ell CENT.
2:00 : r. M. Money , which ruled yes-
borday nt throe and four , is now six per
cent. The tendency , is said to bo to
ward further hardening.
ANOTHEH IlIllUK TUMBLES.
Donnelly , Lawson it Simpson have an
nounced their suspension , They were
largo dealers in county , water and city
liouda. They nro said 10 hnvo two mil
lion dollars with the suspended Metro
politan bank. The firm any : "Owing to
iho general panic prevailing , we doom it
jest to suspend until wo can BOO where
wo stand. "
AT rillLADELrillA.
PHILADELPHIA , May 14. The drop in
prices hero this morning wns solely duo
to sympathy with Wall atroot market.
Philadelphia stocks listed nt the Now
York board were the heaviest sufferers.
Reading opened nt 17 nnd dropped to
J ; Pennsylvania fell oil' ono dollar to
55c ; Northern Pacific also felt the pres
sure ; common foil HAc. and preferred
touched 43A , but quickly rallied to 45L
Ono failure ia announced , 0. M. Bayury ,
a small operator , whoso holdings were
iold out under the rule. It is not bo-
lievcd his liabilities will exceed $70,000.
Prominent banks emphatically expressed
the opinion that Philadelphia banks ,
which are notably conservative , would in
no wise bo affected by the trouble in
Now iTork.
ANOTIIEK SUHl'ENSION.
WALL STUEET , 2:05 : r. M. Hotckiss &
Burnhamhavo just announced suspension
at the stock exchange.
WALL STUEET , 2:10 : r. M : As the eot-
, ling hour approaches the rush of boys
lelivoring stocks adds to the excitement.
District telegraph boys , clerks , and
attaches of brokers' offices nro nil brought
into requisition , and the sccno on the
street is one of intense activity.
CLEAUINO HOUNi ; ACTION.
WALL STREET , 2:50 : IMI. The Clearing
House association has just adjourned ,
nftor adopting the following : Resolved ,
That in view of the present crisis , the
banks of this association , for the purpose
of sustaining each other nnd the busi
ness community , hereby appoint a
committee of four to receive from banks ,
iicmbers of the association , bills recoivu-
lilo or other oocuritica to be approved
by said commit.eu , who nro nuthoiixed to
jxchango therefor to Mich depositing
banks loan certificates bearing interest
at ( i per cent per nnnum not in excess
of 75 per cent of the securities , or bills
receivable so deposited , except in the
aeo of United States bunda , nud still
certificate ! ) shall be received in settle
ment of balances at the clearing houao.
THE METUOI'OLITAN WILL J'AY JIlSI'OSITOIlfl.
WALL ST. , May 14 , M p. in. A repre
sentative of the associated press has iuat
interviewed n prominent director
of the Metropolitan national bink who
Bays emphatically the depositors will bo
id in full. The directors have gone
through all the securities nnd brewing
out nil chuaod es doubtful have inoro
than sufficient to pay the depositors.
The suspension was solely duo to the fact
of iho depositors having become geared
through the nttack on the president of
the bank , Mr. Senoy , and had innugur-
nted a general withdrawal of their depos
its. This fact , coupled with the general
distrust engendered from the critical sit
uation in speculative circles , canned the
bank to suspend. It is stated the bank
is not likely to resume.
.Solon Humphreys , n director , Rtntee
that had the president laid before tin
clearing house a full statement of ufl'airs ,
lliero would have been no need of sus
pension , na the associated banks would
undoubtedly have come to its aasistanco ,
and helped it to tide ever thu crisis.
TUB UNITED HTATKM TUEA8UHY.
WASHiNoroN , D. 0. , May 14 The
secretary of thu treasury announces thai
the department is prepared to redeem
the bonds embraced in tlio one hundred
and twonty-seveiilh call , prior to tin
date ot maturity , Juno 20 , 1881 , with in
terest to data of presentation. The con
dition of the treasury to-day ia
Gold coin and bullion 9100,143851
Sllvur dollarn arU liulllou lBiii71,73 ( :
Fractional ilvoi 2'JU
, 1,07
United Stale * r.ot < u CO.G'JS.S'Jl '
Tot l | 8128.310lll !
OitlficatcH mitHtamllnK-Uolil , SCO.HOHUX )
silver , 03,710,611 ; currency , 816iOU,000.
THE SECOND NATIONAL O. K ,
The comptroller of the currency cnrlj
thia morning telegraphed Bank Examine
Scriba , in Now York , to go to the Soconi
national nnd investigate the riimorn of
trouble' , nnd received in reply the following -
ing telogrnm from Scriba :
"A run on the Second NnUonal bank.
Have secured guarantors for all defi
ciency , and money will bo supplied the
bank until the run ceases. The capital
intact with n small surplus. Particulars
by mail. "
TUB MF.TUOrOUTAX HANK.
The comptroller subsequently received
n privnto telogrnm saying : "Tho Metro-
politnn Nation it bank has closed its
doors. There is the greatest excitement
in Now York , but no ( jouenjl panic. " Ho
thereupon telegraphed Scriba to go to
the Metropolitan National bank , lie
replied ns follows ? "Tho Metropolitan
bank hna closed its doors , 1 have taken
charge nnd nwnit instructions. " The
comptroller instructed Scriba to remain
in charge. In reference- the condition
of the banks cf the country at largo , the
comptroller says they scorn to bo in ex
ceptionally strong 'condition , moat of
them carrying unusually largo reaorves.
SU.MM1NO Wl' THE DAV.
WALL STUEET , 8:80 : v. M. The settle
ments for thu dny have nil boon made ,
llotchkits & Burnhnm hnvo suspended.
Hatch & Footo hnvo made nn assignment
to Henry W. lloighley , without prefer
ences. Tlio rumor tint the Metropolitan
bank is indebted to Dounoll , Liwson &
Simpson ia untruo. The fact ia the firm
owes the bank $10,000 , but haa securities
pledged more than that.
ONF I'EU CKNT. A DAY.
2:45 : r. M. Money ia now loaning nt
1 percent , per diem.
WALL STUEET , 3 p. m. The gong of
ho stock exchange Bounded one of the
uost exciting days in the history of that
iistitution.
KUMOHS.
It is reported that Drexcl Morgan it-
Co , hud one million dollars in the Metro-
lolitan bank. Members of the firm do-
lied this , Baying it withdrew its largo
[ \ccount with that bnuk two years ago.
Vnother report ia that the Atlantic Mu-
; ual Insunuioo company de-posited n mil-
ion dollars in the PluiMiix national
lank this morning.
Grant & Ward's statement is not ready
rO-dny.
Stocks nro firmer' this afternoon on
.ho announcement thnt the banks intend
ed to stand by each other. The failure
of Hotchkiss & Butnhnm had compara
tively little effect. The market wns rng-
; od nt the close nnd can bo called firm.
All checks of the Merchants' National
jauk of Kansas City drawn on the Mo-
ropolitan bank will bo paid by John
L'atou iVr. Co. of thia city.
AT BOSTON.
BOSTON , Mny l t. The decline in
stocks in Now York' , was not fully felt on
.lie Boston board until after tlu > board ,
when quotations gave way rapidly. No
rouble is reported hero in financial
circles , nnd it is expected Boston will
wuathor the storm in good conditions.
Bankers and brokers refused to bo forced
nto n panic. No heavy holders of raided
securities have boon frightened into
.hrowing the stocks upon the market ,
shrewd investors are buying standard se
curities. * *
I'ANHJ A.MONQ CONflUESSMEN
WASHINHTON , May 14. The tumble in
stocks in Now York to-day causes quilo
a panic among congressmen. Many of
; hcm nro personally interested in stocks ,
some carrying largo lots , and others tak
ing small ventures frequently. There is
n constant run of members from the floor
) f the house to the telegraph office in the
obby , whore the latest quotations are
jullotined , and many long faces are soon
among those returning.
A llKOOKLYjr HANK COLLAl'.HES.
NEW YJOUK , Mfty 14. The Atlantic
State bank of Brooklyn closed docra
this afternoon. This bank is the Brook
lyn correspondent of the Metropolitan
bank ; capital , 8200,000 ; surplus , § 100-
000. President , Geo. S. Poill'or.
THE riKENIX.
At the Phumix bank everything is
quiet , and officers any that there ia not
, ho slightest trouble nnd no run. Presi
dent Baldwin , of tlio Fourth National
jank , aaya his bank is all right. Hatch
and Footo stnlo their suspension ia not
caused by the refusal of the Pnmiiixbaiik
, o uisrtify chocks , but caused wholly by
ixhauation of margins nud refusal of cus-
.0111 era to renew them , and their inability
to aell stock without undue sucrifiue.
THE METUOI-OLITAN'.S CONDITION.
In the statement issued by the clearing
fouap , April 24th ( the Inst issued ) , Iho
'nil condition of the Metropolitan bank
vixs ns follows :
Htal § 3,000,000
Net profits J'l)8,00 ! ) (
Circulation 1,801'JiK )
Duo hnnkft B.BIO.WK )
[ ) no ( ItnohitorH ) .S.I.Till ! )
Unpaid dividend fi.100
Cortldo'l ' chookH , S757i0a. !
The following notices were posted on
the Metropolitan bank door : " Chocks
drawn by the Maverick bank of Bustou
on the Metropolitan bank may bo pre
sented to the First National bank for
[ I'lymont. All drafts drawn by First
National bank of Utica on thu Metro
politan bank , may ho presented the First
National bank for payment. "
A I'HILADELl'HIA HUHl'CNSION.
Pini.Aiir.M'iiiA , May ! ! ) , The suspen
sion of Charles MBayard / , stock broker ,
is announced ; liabilities not heavy.
ALEX. MITCHELL.
MILWAUKEE , May 14. It is under ,
stood Alexander" Mitchell tolegr.iphod
Iho Importers it Traders' bank of Now
York to honor nil hi * chocku or those ol
tliii Wisconsin Marino it Fire Inmiranct
iiLin case they could not bo paid l > >
the Metropolitan bank , where the de-
poaitu are ,
A MILWAUKEE SUSPENSION.
The go lie nil oxuiteini'iit deprerhtct
wheat BO much that A. 1C , Klmimrd ACe
Co , Buependodj liabilities , SGO.OUO Tliii
firm hopes to puy dollar fur dollar nnii
resume shortly , Theru were several bul !
firms in Milwaukee that were called 01
for h avy margina but mot them withoul
difficulty. No other ftulureu probable.
AN IDE DOLLArrtB.
CHICAGO , May 14 The Outline let
company has n liiied. { Liabilities $ 'M ,
000 ; aeHuts , $ 'J1,000.
ALEXANIlEK MITOIIELtHANOL'INH. .
MILWAUKEE , hlny 14. Alex. Mitchell
said to-nijtit ; that ho hud no persona
funds in thb Metropolitan bank , und tin
St. Puul road'hus lesi than they took ii
in a Bitiglo day. His bank , the Y/incoiinii
Murino and Fire insurance , has aver ;
small nmountlo its credit , but ho wished
it had more , llu felt sti nuo thev would
liay dollar for dollar. Ho said ( loo. 1) .
Sonoy had not dabbled in stocks for over
n year. The country banks might bo
scared momentarily , but all would blon
over shortly ,
in LONDON.
LONDON , May 14 There was ono
failure upon the stock exchange to-day.
The panic in Now York caused much
excitement on the street at lor the ex
change closed. Louiavillo and Nashville
locitritios have fallen nine points. Other
oadiug railroad stocks have fallen from
, \vo to live points.
AT KANSAS TITY.
KANSAS Cm * , May 14. No apprehen
sions of sorioua trouble is felt in this city ,
hough the BHBmisionof | Donnnlt , Liwson
t Simpson will bo ( felt somewhat , as two
of the members of the firm arc Missouri
uon nnd Imd quite oxtenslvu dealings in
Missouri and Kansas.
1NCIIKMUO.
INTERVIEWS WITH IIANKE1IM.
Special dispatch to THE HBK.
CiiirAiio , Mny 14. A number of
bankers were nsked the probable effect of
the Now York failures on local banks.
Their answers nro sub-joined :
L. J Gage , vice-president of tlio First
Nnlioiinl b.inkwliich | institutiontogether
with the Union Nntional bank , ia n cor-
reapondoiit of the buraled Now York
Metropolitan bank , aid : " 1 don't think
: hey will have nuy largo ell'ect on our
banks ; sympathetically tuny might havo.
1 don't BOO nny good reason why it should
itl'i'ct ua. The atnmling of Chicago banks
a na solid nnd firm na that of any in the
country.
S. W. llawson , president of the Nn-
tionnl Union Trust , said : " 1 don't think
these eastern failures will have any cfi'ect.
Thoy'ro mostly
1IUOKKUM THAT HAVF. (1ONE UNDER
nnd ISow York nnd GliicnirobaiikH do two
different classes of business. "
John H. Walsh , president of the Chicago
cage National bank , said : "It irill have
no efi'ect on us. These follows that have
Tailed nil carried stocks , nud thosehnvo
been going down Very much. That's nil
there ia to it. 1 don't see why wo should
bonllectodntnll. "
George Schneider , of the National
bank of Illinois , said1 don't think
wo will bo nt nil nffoctod. None of the
Chicago banks carry so large n balance ns
to affect them. The western banks nro
perfectly independent from Now York
banks , nnd wo were never so strong in
money matters ns wo nro iiosv. "
Daniel Ullman , n member of the firm
of Edwnrd L. Browster & Co. , said :
"Tho efi'ect has boon very disastrous on
our market. Wo hnvo received a aovoro
shock , nnd one cannot toll how much
worse things may got. Too much apecu-
'ation ia the cause of the curse. "
Mr. Wronn , of John H. Wronn & Co. ,
laid : "It's a very serious thing , Prob-
ibly some of our firms will
OO TO 8MAR1I TOO. "
Mr. Keith , president of the Metropoli
tan National bank , said : "I don't think
these failures will iinva any appreciable
effect on Chicago , except on people deal
ing in Wall street. My bank has no
connection whatever with the Now York
Metropolitan bank. "
President Lombard , of the National
Bank of America , said : "Tho failure of
the Metropolitan in Now York will ex
tend very fnr in its effects. Being an old
bunk , with many country connections ,
it will create distrust nil over the coun
try ; but as far as Chicago banks are
: oncorned , it will not hurt us much. The
uiiluro of these atockbroking firms in
York will make no diflorcnco hero. "
NEWSLWIMSII ADVIOIC.
"KEEP coor , . "
OmcAfio , May J5. The Times says ,
edilorally , : " The Times advises its
roudcra in Chicago and the west , who
iimy think they BOO signs of grave danger
In the news from Now York , to keep
cool. There is nothing in the business
ind industrial situation of the country to
justify Borioua apprehensions ) . The
lailuro of a dozen more or less disguised
gambling shops and their backers in Now
York ia not in itself a circumstance that
should or can materially uffoct any legiti
mate lutorest. The country possesses to-
d.iy nil the I'lomcnts of wealth nnd proa-
liority it hud n month or n year ago. The
f.irnm nnd factories , their products , nnd
tlui strong cunning thut produced them ,
cannot bo destroyed or removed lieuco
by any perturbation in Now York. "
KKKI * CAUTIOUS.
The D.iily Nowa , in on editorial , after
saying it ia inevitable that the ull'uut of
the heavy decline in ntockn and produce
c.innot bo confined to Wall street and
thnt the assertion that it is n brokora' '
panio cannot bo true , proceoda ns follows :
"Inconclusionwliilo wo again drnwattoti'
tion to the confidence of our moneyed
men , wo fool it our duty to warn out
renders nuaiust indulging in over confi
dence nnd wo cannot clone without giving
expression to our fears , which wo believe
to bo well grounded , that the fuiluro of
yoitorduy will not cloao the list of com
mercial d masters , "
"KITE FLVINII DANOEIIOUH JIUHINKKS , " _
I'ho Inter Ocean will conclude an edi
torial pointing out the danger < ( Imik
officials indulging in speculations u iul-
[ own : "Thero hits been nil unhealthy
alnto of the Block market for two years
.mil it WIIH about limo for the clearing up
of the storm. The great grain producing
nnd cattlu growing wust in prosperous ,
farmers nro having n good needing time ;
everything in tbu agricultural line look *
butter now than twelve mouths ngo.
The east must got down out of the oloude
nnd ha content to tread on noliil ground ,
Kite flying i-i n dangerous busincsn , and
above nil bankers , whether it ho Ward ,
Fink , Hrio , 8ouey or any other man ,
should stcur clear of speculations , nil of
which nro outeido of legitimate banking
operations. "
"A J'ANIO AJIONCl HTOOK UAMIIUillH. "
Niw ; YOIIK , May 15 , The Sun thii
inoriiint ; will say : "Yesterday's panic 01
NVnll blruet was emphatically u panii
nmong stuck gamblers- nothing olso. I
didn't proceed from failurod among iner
chuntM nor from the withdrawal of crediti
in mercsiitilu circles. It began , ciilml
tinted und ended in ntock Biuuulation } ;
and went no further , "
TUB 1I1100KIT.V IIANIC
From the Tribune this morning : "Th
i S news of thu excitement und failures i
I Wall street caused much nlarm and thou
11 interested in the financial institutions t
feared lest they should bo it
olvcd in ruin. Only ono institution ,
owovor , seriously suffered , This was the
itlautic State bank , in which Mr.
onoy had one qimrtor of the stock. It
lonrotl through the Motropolitnti bank
nd lind sent over its funds for the day
oforo the closing of the Motropolltnn
ni reported. In order to nvoid n run
n deposits nnd to realism upon its socur-
ios the Atlantic State bnuk decided to
lo o its doors nt 1 p. m. "
Tin ; iir.AHH.
The Tribune says : "As the news of
10 failures on Wall street reached the
reduce exchange , the boars made n dos-
orate ollbrt to break the market. There
as scarcely a linn or bank which was
ot reported to have failed ornhrut to
uspoud. Wheat fell L1 ] to 8 cents , corn
to Jo , and eaU i to Jo. At the close of
10 market it rallied , ami it elmed firmly ,
trong , wliilo the wildest excitement was
jjini { nmong spoculntors. Brokers on
10 tloor who do nn actual business were
ot disturbed. No failures reported. "
OIIIOAdO niA
IIHAVINI ) TIIK8TOUM.
poclnl dispatch to Tlio lloo.
CHIOAOO , May 14. The market son-
ibly felt the shuck of the panicky intol-
gonco from New York , but braved the
iorm in good style , nnd while the goner-
1 list is lower to-night , the decline in
rices has not boon such as would occn-
on any marked comiuont , but for iho
ituation in the metropolis. Wheat
losed 1 ] to 1J under the latest prices
f yoslorday , wliilo corn shows very little
: any decline. Trading was on nn onor-
ions scale ami the total decline of the
ay really occurred within the first half
our , and after thnt , although rumors
.xnio fast , nud fluctuations were rapid ,
till the general course of the markets
raa one of strength instead of weakness
uder the circumstances. The financial
utlook hero wna represented ns ono of
lie beat , nud many operators contended
lint grain nnd provinionn were already
ON IIKII UOCK.
ud could not bo inoro than tompornrily
fleeted by the course of the stock mar-
ots Wlieat opened 1 to II lovror , ral-
od under fair buying nbout ; } , but with
ovornl fluctuations broke oil lj | , rallied
gain i\ \ under good demand , with ahorts
ovoring. Later onsod of } ' lo , advanced
ear tlio close , fluctuating some , nnd
losodI to 12o. | ) Under the closing
iricos on 'chnnio ; yoatordny , the lowest
irioos of the day were 4J cents under the
ighost prices of yesterday. Mny closed
1 80 to M i ; Juno 87 to 87J ; July 88J.
On the ntternoon board prices were n
lindo .easier ; Juno closed at8l ! { ; July
COIIM
tiled unsottlcd. The market opened g to
c lower , rallied Ac , declined A , advanced
, eased ell' { , und closed nlmut 1 under
esterday. Juno closed nt C5 to 50 , nud
uly 51g. On the nfternoon board ,
inner ; Juno closing nt 50J , July 57Z to
8.
OATS
lull at A lower ; June nnd July closed nl
! Ij , and remained unchanged on tlu
ftornoon board.
IMlOVIHIONrf
voro sharply lower early , but recovered n
> ortion of the lost ground. Mess pork
loarod at 17 25 Juno , 17 . ' 17A July. On
ftornoon board a decline of Tic occurred.
jard closed at 8 25 for June , 8 , ' )7 ) | for
'uly. ' On the afternoon board July ad-
uncod to 8 40.
( UTTLi : .
Trade gonornlly rather slow. There
was not that sharp demand for fair to
oed cattle thnt there was on Monday
nd Tuesday. Buyers for the dressed
loof trndo and shippers Boomed to want
o fill their orders out of the plentiful
upply of distillery cattle on sale , passing
iy corn fed. Taken altogether , however ,
bore was little or no chnngo in prices.
'hero wns an export order or two on the
'
narket , nnd big cattle 'that would suit
coined to be in bettor demand than yos-
erday , Butchcrn' stock remains stonily
nd unchanged. Business in stockera
ml feeders continue light and prices un
hanged.
nons ,
There was a brisk demand on both
acking and shipping account , and the
icst heavy sold at n sliglitndvnnco during
he mtmiing , but Inter the demand eased
ill'nnd at the finish prices were not as
trong ns nt Iho opening ; yet nbout nil
iad boon once sold. Those left over
vero in the Imndn of speculators. Kales
vero at § 5.50 lo (1,15 ( , for packers and
hippors. A double dock of Philadolphins
were sorted out of the $0 15 lot that
would coat nhnut $0.25 ; assorted light ,
§ 5.00 to 0.05 ; skips and pi s 0.00 to 5.55.
HiiKir. ;
The market remains in nbout the same
uneven nud unsatisfactory condition na
Koviously reported ; rnccipts , especially
jf scalawag" mid poor Block , nro incroas-
ug nnd thuro v/ai n weak side to the
narket to-day ; should thu receipts in
crease , prices nro liable to drop 50 to 75c
> cr hundred , nn no factor is likely to keep
ip the present high prices. Sales to-day
ncludu 100 clipped Hcrubs , avernging 81i
loimds nt ? 1 00 ; 188 common clipped ,
ivoruging 74 , nt 5 00 ; ! )0 ) common woolod ,
iveingiii ! < 80 , nt 5 0711 to G (15 ( ; gooU
ilijiped , nvoraginx 82 , ut 5 75 ; 40 ditto ,
80 , n 5 ! )0. ) _
Huso Hull Yt'Ntcrday
AtNoirYork Baltimore , 2 ; Brook
yn , 4.
At Altoona KoynUmo , 0 ; Altoonn , 2
At Toledo Toledo , 5 ; Louisville ! ) .
At Now York Buffalo , Oj Now York
4.
At ChicagoChicago ; Unions , 8
\Vunhhigtoiitt , 2.
At St. Jjouis : St. Louia Unions , 7
lialtiinoro , 5.
At Iiuliauapolia : Indiaimpolia , 2 ; St
fjouia , ! ! .
At Ft. Wyyno Ft , Wayne , 2 ; Sagin
aw , It.
At New York Alleghany , 2 ; Arotro
politun , 4 ,
At Providence Providence , 2 ; Detroit
At BoHton Boston , 4 ; Chicago , 2 ,
At Olumbuu , O. Cincinimti , 2 ; Ool
mnbus , 8.
At Cincinnati Cincinnati Unioiib , 10
Boston Unions , 11 ,
At Washington Wellington , 8j Ath
lulics , 12 ,
Hnlo r TUoi-miKlibi'cil OnllH.
LKXINUTON , May 14. A , Surgert sol
nt Klmdorf , nonr hero , to-day , 47 thr
roughbred colts nnd fillies for 8-10 , 28C
an avorngo of § 857 J 24 colts , § 25,101
IIVCMKO 81,0 tO i 23 fillieo , § 15,180 , uvui
ugo | 0)0. ( )
THE TRAGIC TRACK.
Horrible Accident in Peinisylyania oh
the Baltimore & Ohio , 1
Tatal Collision Between a Freight
and a GroN 'Tain ,
From a Dozen to ,5fnty Laborers
Instnntlj " Billed ,
A Oar Gets Afli 1 and Boasts
the WoundL * ' S Death ,
[ oadloss , Aruiloss and Legless
Trunks Taken from the Wreck ,
HCOIIM nt tlio C ! finally
Wreck The Onuoc.
A IIJUIAVAY HOlinoil.
MANOLED AND UU11NKD.
PiTTsnuun , May 14. A west bound
roighl collided witli n gravel train on the
taltimoro fc Ohio ono mile east of Con-
lollsvillo , between ! and 10 o'clock this
Horning. A number of laborers , various-
y estimated nt from 12 to 20 , were killed
nil many were injured. The BCOIIO of
ho disaator ia on n sharp curve , juat west
f the Spocr sand works. The freight
rnin was heavily laden with oro. The
amp trnin consisted of six cars nud con-
Allied nbout fifty men from the Pitts-
urg Southern road , who were on their
my to Ohio , Pylo Fnlia. to work on a
railing for n double track on the onat end
f this division. Both trains were goinR
t n high rnto of speed nnd came together
vith n fearful crash. Tlio engines ro-
lained on thu track nnd telescoped each
thor into the smoke stnok , but the heavy
enders jumped into the nir nnd foil , the
roight tender upon its engine , nnd 'the
ravel train tender back upon the first "
nr in the roar of it. Hero wna
A SCENE OF DEATH.
Six men were killed outright in this\
ar , nnd four others fastened down by
lie timbers nnd were roatod to death , the
ar catching fire from nn overturned
lovonnd burning up before the stupefied
urvivors could comprehend the awful
ituation of their shrieking companions ,
'hreo men oacapod from the car. The
vrock itself was n ghastly sight. The
ndor of the freight engine stood 30 foot
n the nlr , nt the side of thu iron car that
vns burned and could bo soon sitting
imid the plowing embers , twisted iron
ods nnd dead ashes ,
THUEr. OIIINNINO SKELETONS ,
mo sitting bolt upright , apparently
leering into the fhmos that had smoth
ered out hia life as well as that of his
companions. It is impoasiblo at this
writing to got a Hat of the dead and
voundod. At noon a largo force of ahop
muds were on the ground oxtinguiahing
; ho flames nnd a wrecker was at work '
Bulling the debris nwny nnd rescuing the
charred remains. Tlio burned trunks of
'our victims hnvo just boon taken out.
Acrona the breast of ono a white un
singed spot contrasts strangely with the
ilackonod surroundings. The spot waa
vhore the heavy timbers had caught
lim and held him in the grip of fate un-
il the llamos loft nothing but
IEADLESS , AUMLESS AND LECJI/EH.S TUUNK.
The remains were reverently placed on
\ board , carried aaido , and laid down up-
in the green grnaa spotted with purple
oroat flowers. A loan and hungry look--
ng mountain dog snuffed the roasted
leah , and licking hia chops , * descended
upon the remains ; fortunately ho waa dis-
ovorod nnd driven nwny. 11 ia expected
, ho wreck will bo cleared up this evening ,
i'ho ofllciala decline to say who is to
ilnmc , but the popular opinion puts it on
ho train runnora. It may have boon
mistaken understanding of orders.
L'ho true cause will not bo known for a
lay or two. Meaiitini , nn investigation
ioa boon ordered.
FIFTEEN VICTIMS ,
PiTTHiiURa , May 14. When the wreck
wna cleared nwny it wns discovered that
2 persons Imd boon injured nnd 14 more
nissing. The bodies of ten of these mia-
ing were recovered. The others nro
upposod to hnvo boon completely con-
umod. 0f _ those recovered only tyro
wore partially identified. The others
vero burned to shnpelcBsuoaa. One of
ho injured died on the way to the hos-
lilul , making 15 dc'atho.
Tlio Dunvor Itnlltvny
DENVKU , May 1-1 The war on east
mssongor rates continues. Crowds throng
he atroots in front of all the uptown
ifllces. The following rates were bul-
otiucd this morning : "Missouri river ,
south , distance 005 miles , $3 ; St. Louis ,
& ; Ohiciigo , S7 ; Saw York , § 25. Pro-
lorlionnl rates to other eastern points. "
It is ntatcd scalpers are Boiling NowYork
at 820.
UHNVKU , May 14 10 L. M. Passen.
er rates on all the roads will bo
restored to-morrow morning.
Ifalum , or nny Injurious eubitiuiuvM cuiiT&o found
In Andrews * Pqnrl Baklna Powile * . , Is po * .
IvclyPURE. _
ruuifvixl irout m'.ah cticiuUts asB. puua Unys. lies-
ton ; ii. lielalbiitalni" , of Chicago ; neil UuULYU4
Hoilc , Jttl'.v uukcc. Never sola in bull ; .
. . ANDRr4U
g.QE.
