Metropolitan National Bank (New York, NY)

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IN WASHINGTON

WASHINGTON, May 14th. The news of the failure of the Metropolitan National Bank, and the suspension of several stockoperating houses in New York, was received here almost simultaneously with the announcement in that city. The greatest excitement prevailed among operators here, and a tremendous business was done by the brokers. There are about a dozen brokers' offices in Washington, connected by special wires with New York, and a great deal of speculation in stocks, oil and grain was indulged in by Government employes. There was much tribulation at the Capital when the news of the drop in stocks was received. Special wires carry quotations to the Capitol for the benefit of Senators and Representatives who deal in stocks, and the gentlemen interested in speculation crowded around the telegraph office throughout the day to get the latest news. All the information that can be obtained from the local banks indicates that they are in a sound condition, and not affected by the distraction in New York.

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Financial Officials of the Government Do Not Expect a General Panic. Markets Outside of New York City, with the Exception of Oil, Apparently Uneffected by the Trouble. A REASSURING REPORT. Solvency of the New York Banks-An Effort to Put the Metropolitan on Its Feet. Special to the Indianapolis Journal. NEW YORK, May 14. - The Stock Exchange panic to-day was chiefly due to the suspension of the Metropolitan National, precipitated by the failure of Nelson Robinson, the president's (Seney) son-in-law. There will probably be no loss to depositors. The associated banks enacted that clearing-house certificates be issued, as in 1873, which will assist any solvent bank requiring them. There were several considerable failures among brokers, but no weakness is suspected in the banks. Vigorous efforts are being made for the immediate resumption of the Metropolitan. There was a steadier feeling at close of business. WINSLOW, LANIER & Co.

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A FINANCIAL TEMPEST

A Day of Excitement, Only Equaled by the Famous "Black Friday." The Metropolitan National Bank Closes Its Doorsand Suspends Payment, and a Number of Firms Take Similar Action. Wall Street Literally Jammed by Many Thousands of Excited People. The Pressure Becomes So Great that the Doors of the Stock Exchange Are Guarded by a Squad of Policemen. The Second National Bank Successfully Meets a Very Heavy Run. Action of the Associated Banks for the Purpose of Restoring Confidence in Business and Financial Circles. Financial Officials of the Government Do Not Expect a General Panic. Markets Outside of New York City, with the Exception of Oil, Apparently Unaffected by the Trouble.

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Telegrams from New York this morn ing state that a panic seized Wall street yesterday, and amidst tremenduous excitement, banks collapsed, stock speculators were ruined and trade generally demoralized. The succession of failures the past ten days were too demoralizing for safety, and a general panic is the result. George I. Seney's Metropolitan National, of New York, went under, with liabilities of over $15,000,000 And the end is not

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THE TROUBLE IN THE BANKS

THE METROPOLITAN TO RESUME. CIRCUMSTANCES OF ITS SUSPENSION-ACTION OF THE CLEARING HOUSE COMMITTEE. The suspension of the Metropolitan National Bank was sudden, but not altogether unexpected. Several times in the last few months its solvency has been doubted and ramors of its embarrassment have been circulated. President Seney's connection with railroad enterprises has been 80 extensive that it has been a question at times whether the bank was not heavily involved in them. After the sale of the Nickel Plate" Railroad to the Lake Shore, about a year ago, it was susposed that the bank was relieved of a part of the burden which it was reported to be carrying. It was impossible to learn from the officers yesterday the causes that led to its failure. Because of the intimate relations between the stock-brokerage firm of Nelson Robinson & Co. with the bank it was the popular opinion in Wall Street that the failure was a direct consequence of that of the firm. It is understood, however, that the failure of the bank has been inevitable for several days and that several causes besides the failure of Nel-

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FORCED TO SHUT THE DOORS SEVEN FIRMS AND A BANK SUSPEND. THE CITY STARTLED BY THE CLOSING OF THE METROPOLITAN BANK. THE SUSPENSION ONLY TEMPORARY-GEORGE I. SENEY'S FINANCIAL TROUBLES-FAILURE OF WELL-KNOWN WALL STREET FIRMS. The business community in this and other cities was startled yesterday by the suspension of the Metropolitan National Bank, of which George I. Seney is president. This was due to large loans to the Wall Street firm of Nelson Robinson & Co., which is composed of Mr. Seney's son-in-law and two sons; Mr. Seney has invested so extensively in the securities of various Southern railroads, and of late has suffered so large losses, that he was unable to sustain the firm by the use of his own private resources. A committee of the Clearing House investigated the affairs of the bank and it was decided that its assets would justify the resumption of business. It will, therefore, open its doors to-day. Nelson Robinson & Co. failed with large liabilitiés. O. M. Bogart & Co. also suspended, and these failures were followed by those of Hatch & Foote, Donnell, Lawson & Simpson, Goffe & Randle, J. C. Williams and Hotchkiss, Burnham & Co. These financial troubles caused intense excitement in Wall Street and extremely heavy declines in stocks. Last evening, however, the feeling was general that there would be no serious misfortunes to-day. There was a run on the Second National Bank yesterday, but every demand was promptly and fully met. The Atlantic State Bank of Brooklyn, a correspondent of the Metropolitan Bank, closed its doors.

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THE OPENING SCENE Scene-During the Early Hours at the Exchange. Rumors of impending failures were thick and when the exchange opened there was a perfect rush for admittance. In a less time than takes to tell it the Board room was crowded, and immediately on the announcement of the chairman of his readiness to proceed to business the outpour of stock was such that prices at once began to decline and with such rapidity as to cause the most intense excitement. Brokers struggled, shouted and vied with each other in their attempts to market stocks, and all efforts to keep order were futile. The Roard room was turned into a veritable Bedlam. while messenger boys rushed to and from the Exchange with messages from brokers and partners and others not privileged to the floor of the Exchange. Business had hardly begun when the announcement was made that a long line of depositors had assembled in front of the Second National Bank, and that a heavy run on the institution was fairly under way. The excitement consequent upon this announcement had not got fairly under way when the suspension of Goff and Randall, stock brokers, was announced from the rostrum. Then followed in quick succession the announcement of the suspension of Nelson Robinson & Co., O. M. Bogart & Co., J. S. Williams and the old firm of Hatch & Foote. Then'came the news of the suspension of the Metropolitan National Bank. When the last of these startling announcements had been made the scene in the room was beyond all de-

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THE FINANCIAL SITUATION

Savannah Merchants Not Affected by the Disturbances in Wall StreetOpinions of Leading Firms- What a Prominent Bank Official Said. The announcement yesterday of the failure of the Metropolitan National Bank and other failures in New York, created a flurry in commercial circles in Savannah. A MORNING NEWS reporter, starting in the vicinity of the MORNING NEWS office, called upon the leading business firms likely to be affected by the crash. Mr. S. Guckenheimer, of the firm of S. Guckenheimer & Son, Nos. 149 and 151 Bay street, was asked whether the financial developments during the past two or three days in New York would cause any embarrassment in Savannah. Mr. Guckenheimer smiled and remarked: "No one that I know in Savannah will suffer, principally because there is not much of a speculative spirit among Savannah merchants, who rely more on doing a substantial and legitimate business. There may be one or two gentlemen in the city who keep a small deposit in the Metropolitan Bank, but beyond that I do not think any one will be hurt. I know that I am all right and that my four mules out in the street there will continue to pull as steady as ever. My idea is that the failures will be confined principally to Wall street." Messrs. Bendheim Bros. & Co. said: "We hold a check for a small sum on the the Metropolitan National Bank, but the check would be good as gold for its full value, even if the bank should go as high as a kite. We are not hurt by the failure." Messrs. Herman & Kayton were then interviewed. Mr. Kayton said: "The failnre or suspension will have a good effect, and will make business men more cautious. I know our bu ess will not be affected by it. and I do not know any one in Savannah who can be embarrassed. The whole thing is confined to Wall street, and cannot affect Savannah unless the panic should become general. Everybody in this section of the country is doing what is called a safe business. Trade has been comparatively dull for some time, and there has not been such a great demand for money here for moving crops, etc. Hence the effect of the failure will be limited to a few speculators. The people in New York have been speculating, and now there is an ordering up of accounts among them. Few who do a legitimate business exclusively will suffer even there. One of the most prominent bank officials of the city was called upon and signified his willingness to converse upon the subject, but said that his name must not be used. "The failures are not calculated to affect any interest in this city that I am aware of," said he. "The bank of which I am one of the representatives has no account with the Metropolitan National. 1 think the financial disturbance will be confined to Wall street, and I do not recognize any existing circumstances in the run of business here by which any bank of this city or cotton firm could be affected. especially at this season of the year. The only interest that would likely to be affected is the naval stores, because that trade is continued into the summer. Yet none of the houses in Savannah may have any connection with the institutions that have gone under during the past day or two." "Is there any probability that the financial disturbance will become general?" "I can see no reason why it should." The reporter happened to see the last issue of the Bankers' Almanac, January 1, 1884, and found that no bank or banker in Georgia kept an account with either the Marine or the Metropolitan National Bank of New York. He also ascertained that no bank in South Carolina kept an account in either of those banks, and but one in Florida. Messrs. John Judge, No. 102 Bay street, and J. Willis Moore, manager of the Messrs. Chess Carley Company in this city, were called upon. Mr. Judge is identified with the naval stores trade here. He and Mr. Moore both said that they were quite positive that none of the dealers or manufacturers of naval stores in this vicinity kept an account in either of the banks. They were not prepared to say whether the financial breaks would become general, but they were rather inclined to believe that the effect of the failures would be limited to speculators in New York. Mr. Joseph J. Wilder said: "The failures cannot injure any interest in the South unless it may be that of the East Tennessee, Virginia and Georgia Railroad, which has done SO much to injure Savannah. The crippling of that railway may result in a benefit to Savannah indirectly through the Central Railroad. The East Tennessee, Virginia and Georgia road is controlled by Northern capitalists, prominent among whom is Mr. George I. Sesney. I do not think that the failures will lead to an extended financial complication."

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DONNELL, LAWSON & SIMPSON SUSPEND. Within twenty minutes after the announcement of the suspension of the Metropolitan National Bank, the banking firm of Donnell, Lawson & Simpson, No. 102 Broadway, suspended. There was a rumor that the firm had $2,000,000 on deposit in the Metropolitan, but at the office of the

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CONTROLLER CANNON ON THE SITUATION

WASHINGTON, May 14.-Controller Cannon in an interview with a representative'of the Associated Press in regards to the situation in Wall-Street, said that the Metropolitan National Bank had a large capital and surplus and, judging from the report of the examiner, made on April 28, he thought that there could be no great loss to depositors. He said that he was unable to explain the suspension, unless there was a general panic on the Street, and he believed that depositors would not lose to anv extent by this

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A BADLY CRIPPLED FIRM

Indications that Donnell, Lawson & Simpson Are Seriously Involved. NEW YORK, May - From the New York Tribune of Friday: The statements of the members of the firm of Donnell, Lawson & Simpson, on Wednesday, that their suspension was due wholly to the suspension of the Metropolitan National Bank, were not confirmed yesterday. The Metropolitan having resumed, similar action on the part of the banking firm was anxiously awaited. Toward the elose of banking hours, it began to be whispered around that their failure would be total. Bonds of the Cieveland, Youngstown & Pittsburg railroad were mentioned as a matter in which they had been most crippled. This was a security over which the Bank of the Republic directors had a difference about a month ago, which resulted in president Ford's resignation. The Bank of the Republic was one of the two banks with which Donnell, Lawson & Simpson did business,

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DONNELL, LAWSON AND SIMPSON,

NEW YORK, May 15, The New York Tribune of Friday will say: The statements made by members of Donnell, Lawson & Simpson on Wednesday, that their suspension was due wholly to the suspension of the Metropolitan National bank, were not confirmed. Yesterday, the Metropolitan having resumed, similar action on the part of the banking firm was anxiously waited. Toward the close of working hours it began to be whispered around that their failure would be total. Bonds of the Cleveland, Youngstown & Pittsburg railroad were mentioned as the matter in which they had been most crippled. This was the security over which the Bank of the Republic directors had a difference about a month ago, which resulted in President Ford's resignation. The Bank of the Republic was one of two banks with which Donnell, Lawson & Simpson did business. Simpson had been a director in it. It was said George I. Seney had unlonged a lot of these.

"They will be more than that. We shall pay every dollar, I now think." "Is there any truth in the rumors that Seney unloaded Cleveland, Youngstown and Pittsburg bonds on you?"

"Not a word of truth. President Seney has unloaded nothing on us at any time,"

"What has been the character of your securities?"

They have been such as would commend themselves to conservative judgment. The greatest shrinkage in their value has been in some railroad bonds upon which we made advances Cleveland, Youngstown and Pittsburg those and some others.

How much are your deposits in the Metropolitan?

It was a good deal larger than we could have wished.

Can you not remember, now that the Metropolitan has done so? That is what we are trying to find out. We shall know tomorrow.

It is understood you have been offered two hundred thousand to help you out?

bonds on the firm, and that their dependence on the Metropolitan was such that they could not refuse to be thus used. At the firm's office on Broadway there was a long list of notices from their correspondents stating where drafts would hereafter be paid, which indicated how widely their business was distributed. There were over 400 banks for whom they transacted New York business, scattered through Georgia, Florida, Texas, Missouri, Kansas, Arkansas, Nebraska, Iowa, Colorado, Utah and other territories. Over 100 bulletins were posted on the door inside. Donnell and Simpson were busy all day trying to see where they stand. Lawson is in Europe.

To a Tribune reporter yesterday Simpson said: "We are still figuring up and trying to get to the point where we can resume. We can't tell you anything until about to-morrow after noon. There is a prospect that we will resume. That is the point toward which our arrangements are tending."

"Has the assignee or receiver been decided upon?"

"No, sir; nothing of that kind has been or will be done now. We shall not make an assignment unless satisfied we cannot go on or settle our business satisfactorily without it,"

"What are your liabilities?"

"We can't tell exactly in the neighborhood of three millions,"

"How much are your assets worth?"

"Yes, S. B. Elkins offered that, but that would have been a drop in the bucket. We were offered several hundred thousand dollars by cable but we must see where we stand first. One attache of the firm told a reporter that matters had gone so far that resumption would be impossible. The offer of $200,000 by S. B. Elkins was made in good faith and it may lead to the re-establishment of the concern under a new name.

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Price Two Cents The trouble is simply, so far, a brokers' panic, and, we may add, a very natural result of the way business has been done during the recent period of great activity. The story of the failing banks is a simple one. The Marine was part and parcel of Grant & Ward; the Atlantic State bank of Brooklyn and the Metropolitan National of New York were Seney banks and were carrying the Seney projects that were too big for private capital. Family-in-law brokerage houses were mixed up with these, too. The Second National did not fail, but the reason for the run on it was plain, and the reason it did not fail was that its president had a rich father. This, however, is a resource that cannot be expected of all bank presidents-old ones especially.

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Great Money Panic

On Wednesday a financial panic swept over Wall street, New York. Banks and brokers went where the woodbine twineth. The reported failure of Donnell, Lawson & Simpson created a flurry in Montana. The following is a summary of the reported failures on Wednesday; Neison, Robinson & Co. Goff & Randall. Metropolitan National Bank. 1. C. Williams. Hatch & Foote. Donnell, Lawson & Simpson. Hotchkiss & Burnham. Atlantic States National Bank. On Wednesday dispatches were received at Butte announcing that Donnell, Lawson & Sunpson had resumed payment and that so far as that bank was concerned it was all right. This dispatch allayed the excitement at Butte and elsewhere in Montana.

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The great break of last Wednesday on Wall street has in a measure subsided, and the flurry being over, confidence has been partially restored. At the opening of business on "black Wednesday" an impending disaster seemed to hover over the minds of the stock gamblers on Wall and Broad streets, the mammoth failures of the few days previous having the effect of multiplying four-fold the fears of a financial crash. Soon after one o'clock large crowds of depositors were seen in front of the Second National and Metropolitan National, and when the cashier of the Metropolitan slammed down his slide and ordered the doors closed a wiid scene of tumultuous confusion and excitement followed. At the stock exchange continuous announcements of failures of smaller firms were being made, and when the suspension of the Metropolitan was made known, complete disaster seemed to stare everybody in the face. The brokers were a struggling, howling mass, and the galleries were ordered emptied. The day throughout was one of continuous and almost unprecedented confusion, and when the gong of the stock exchange sounded, one of the most exciting days in the history of that institution closed. The net result of the day was the suspension of the Metropolitan Bank, the Atlantic State Bank of Brooklyn, the failure of sixteen broker firms, a depreciation of values to the extent of tens of millions, and an advance in money to 3 per cent per diem. Of the brokers but two were large houses, those of Hatch & Foote. and O. M. Bogart & Co., The wild excitement of Wednesday was continued the next day in about the same manner, and the extravagant scenes of the previous day were repeated. There was a failure in the morning which startled the operators for a moment, a great scramble for money all day, feverish flucnation in prices, and an approach to a settled feeling when, just as the brokers finished their work, a startling disaster in the failure of Fisk & Hatch stamped upon the hopes for the best and set the market on a rattling down pace, which stopped only when the gong sounded at 3 o'clock. The net results for Thursday were the failure of Fisk & Hatch, A. W. Dimick & Co., and several brokers with capital of less than a million dollars. The Metropolitan opened its doors at noon, and other National banks continued receiving deposits and paying checks. People were gradually returning to their senses, and foreign orders for stock caused a better feeling. On Friday the superstitious crash that was expected failed to culminate, and outside of a few failures at Boston, New York and Chicago nothing startling occurred to mar the fancied serenety of the financial horizon. The panic is over, and eastern capitalists who have been investing their means in watered stock and sky-rocket securities will turn their attention to western fields where speculation in deeded farms on Dakota's fertile plains will reap for them a surer harvest than wild-cat speculation in the financial center of the nation. The Wall street disturbance will be productive of great good to Dakota, and more hard cash will be put into circulation in the Sioux valley as a natural result.

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NEWS CONDENSED

Concise Record of the Week. EASTERN. The wildest excitement New York has known since the Jay Cooke fa'lure in September, 1873, prevailed in Wall street on Wednesday, the 14th Inst. Thousands of brokers and bankers were at their offices two hours earlier than usual, and immediately upon the opening of the Stock Exchange great uneasiness became manifest. The galleries and the floor were packed, and before business bad fairly started some one yelled out: "The Second National and the Metropolitan have gone up!" The scene that followed beggars all description. Pandemonium reigned, and roar after roar from excited men put a stop to trading. Messenger boys dashed hither and thither. calling out in shrill, excited tones names familiar in financial circles, adding to the wild scene. At an early hour the failure of J. C. Williams was announced. and in the next breath came the failure of the old house of O. M. Bogart. Again and again the surging crowd yelled, and were answered by excited thousands in Broad and Wall streets and Exchange place. Fail. ure after failure was announced in rapid succession, each collapse causing a fresh renewal of the excitement. The cu:mination was reached, however, when the vast exchange received proclamation of the ruin of Hatch & Foote, the greatest brokerage house on the street. The crowd scemed stunned for an instant, when a great wail of distress shook the building. They knew that a great panic had struck the street, and looked at each other in helpless amazement "Secretary Folger is at the Treasury building and will help us," rang out a clear strong, steady voice close to the Chairman's desk, and Immediately deafening cheers rang out through the building and were taken up and repeated upon the street. Many leading members rushed over to the Treasury building. found Judge Folger seated on the railing about Washington's statute, and received from him assurances that the Government would do everything in its power to help the street. This good news was carried back to the Exchange and produced a marked effect. Comparative quiet was restored, and operators began to look about and calcu ate the damage produced by the financial cyclone. It was found that two national banks, with a capital of $3,000,000 and $2,000,000, respectively, and eight of the largest brokerage firms in the city had collapsed: that stocks had declined as they were never known to decline before, and that the prices of produce had also greatly shrunk. An improved feeling was noted at the opening of the New York Stock Exchange on the 15th inst., until the failureof A.W. Dimock & Co.-the senior member of the firm is President of the Bankers and Merchants' Telegraph Company-was announced. The securities grew weaker. and again rallied when the Metropolitan National Bank resumed. At the latter bank, as well as at the Second National, many deposits were withdrawn. but the money was promptly paid. About fifteen minutes before the close of business the failure of Fisk & Hatch was announced, causing a sensation, as Mr. Hatch is President of the Stock ExchangeThen prices tumbled, and the market closed in a chaotic condition. No serious disturbances were reported throughout the country, the feeling prevailing that the storm could be weathered. In London and other European trade centers there was some excitement. and a fall in values of American securities was noticed. George I. Seney resigned the Presidency of the New York Metropolitan Bank, and Henry L. Jacques was chosen for the position. In the Stock Exchange on the 16th inst. values opened lower and unsettled, but before the first call a steadier feeling manifested itself, an advance of 1 to 2½ per cent. being noted. Then the failure of H. C. Hardy & Sons was announced, when values again sagged off, and the list dropped still further when it became known that the Newark Savings Institution had closed its doors. After this, confidence began to return. there Leing heavy purchases of stocks for foreign shipment. Before the close a dread of further failures resulted in a feverish feeling. which passed away rapidly when no disasters occurred, and the market closed in a "whirl of buoyaney" unknown for a long time. Call loans dropped from 1½ per cent. per diem to 5 to 6 per cent. per annum, and large amounts of money were received from the country. The feeling of confidence was enhanced by the Bank of New York loaning $3,000,000 on Government bonds, and by the issuance of $5,000,000 certificates by the Clearing House. Closing deals indicated an

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THE BUSINESS SITUATION

An Ugly Rumior in Wall Street-The Penn Bank. NEW YORK, May 23.-There is no im provement in the tone of speculation, and there is a growing apathy in tra ling of any kind. All attemp to market stock caused a decline, and a eding of great uncertainty prev ilsd. A atch of unfavorable reports was circulated, among them one to the effect that th Metropolita: National bank would be competal to close it: doors in consequence of the avy drain .11 sin o resumption. The bank, officials, however, deny the report and assettial the institution was fully able to meet all demand The failure of the firm of E. H. Shaw has been announced ou the stock exchange. Of the affidavits against Ferdinand Ward three were made by J. Nelson Tappan, J. Sewell Tappan (Mr. Tappan's son), and William Bingham. The arrest of Ward was made upon an order issued by Judge Donahue on Monday last in the action brought by J. Nelson Tappan to recover $32,000. The suit is brought against Ulysses S. Grant, Ferdinand Ward, James D. Fish, William C. Smith, and U. S. Grant, Jr. Rumors are floating around Wall street that U. S. Grant, Jr., has suddenly left for Canada. Everything is quiet at Russell Sage's office. A clerk is reported to have said that Mr. Sage had paid out $6,000,000 within the past few days, on his "put" privileges. NEW YORK, May 23.-Jay Gould says he has proof that outside investors have been heavy buyers of Western Union during the past two weeks, and that the stock has been taken from the street and transferred. Concerning the stock market Mr. Gould had very little to say. He believed that parties with capital were anxious to get securities at the present figures and there was every reason to suppose that we had passed through the troubles. He had been talking to a prominent bank official, who declared that We had nothing to fear from our associated banks, and that each day brings a brighter outlook. PITTSBURG, Pa., May 3.-A more complete understanding of the exact condition of the Penn bank and the feeling that they will be able to pay ali their liabilities, together with the concerted action of the bankers, has had a reassuring ef fect, and confidence to a large degree is restored. It was feared that there would be runs on several banks that were reported on the street as in a weak condition, but a visit to alleged shaky banks at noon found all serene, with the checking out not much greater than usual. Bankers expressed themselves as perfectly able to meet the do mands made on them. The officials of the bank are busy getting affairs ready for resumption. Their clear ances have been made good, and they will open their doors with $600,000 in cash on their counters. Many of the largest depositors have signified their intention of allowing their money to lay in bank, and long before the hour of opening a number of the heaviest depositors force their way to a side entrance and insisted on making then deposits. The bank, however, refused to accept them until they resumed. ST. LOUIS, May 23.-Attachment suits ag gregating over $40,000 have been filed against the firm of Kaufman, Cohn & Co., wholesale milliners. They :will make an assignment, Their liabilities are about $75,000. The creditors are principally in New York. The assets are between $30,000 and $40,000.

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THE METROPOLITAN GOING ON AS USUAL

The rumors that the Metropolitan National Bank was going into liquidation which were rife several days ago were revived yesterday and gained considerable credence. The truth of the rumors was fiatly denied by President Henry L. Jaques and Bank Examiner A. M Scriba. " The bank is gradually reducing its deposits," said Mr. Jaques to a TRIBUNE reporter, " but not with the view of going out of business. That question had not been discussed inside the bank, but seems to have been fully discussed outside. We are going on with our business Just as usual. Of course its volume has greatly decreased, but we have the satisfaction of knowing that we are working on a perfectly substantial basis." "There is not the slightest intention, so far as I am aware," said Mr. Scriba, "on the part of the Metropolitan Bank to go into liquidation. I have not heard it intimated except from outside. Everything is going on weil here and the intention of the bank officers, I understand, is to continue and build up the business to its former proportions if possible. It was a terrible blow to this institution, and a great mistake was made when its doors were closed, and it will take time for it to recover its former standing, but it is sound and can pay every dollar of its liabilities to-day." George I. Seney has not been at the bank for two days, his physicians having advised him to keep quiet and rest for a time. FACTS ABOUT THE ATLANTIC BANK. Receiver Freling H. Smith, of the Atlantic Bank, yesterday, assisted by o. M. Denton, the cashier,

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TOLD IN A LINE

Chief Justice Waite spends the summer at Lynn, Conn. Bartholdi, the sculpor, will be banqueted in Paris Wednesday. Senator Edmunds hasgone to Vermont with his wife and daughter. Roger A. Pryor was blackballed by the New York bar association Thursday. President Arthur recently repeated a whole page of Vernon Grey, not having seen the work in twenty years. Justice Harlan, who is holding court in Chicago, could not get rooms at the hotels and is sleeping in a room adjoining his court room. Mr. Emerson, known to the general the less name of sailed by the "Billy," public by conventional Adriatic for England. He has a horse entered for the Derby, to be run on the 26th. Miss Braddon, the novelist, has for many years given every Wednesday a roasted leg of mutton for dinner to the poor children of a neighboring public school. In private life Miss Braddon is known as Mrs. Maxwell. Webb, the heir to Byron's of Newstead commansion Algernon Abbey, lately suicide at int his The mitted estate passed Dambridge, father's England. hands from those of Col. Wildman, to whom it was sold by Byron. W. Drexel, the New York banker, the railway man, J. Senator J. Arkell, and A. Sleicher, of newspaper fame, become the directors of the Albany Journal, now newly incorporated, with $140,000 capital. Charles O'Connor's fine estate on North Shore, including his fire-proof liwill pass by into of the Roman the brary hands building, Catholics request of Nantucket. Mr. O'Connor paid off the entire debt of the town of Nantucket. Mrs. Frank Leslie's weekly reception at the Victoria hotel, Thursday evening was attended by the literary friends of Mrs. Robert M. Wilcox, nee Miss Ella Wheeler, the Wisconsin poetess, who was staying in New York for a few days on her wedding tour. Prof. Gilbert E. Bailey, the well known has been reappointed Territorial of Wyoming geologist, geologist Territory. Prof. is one of the early much to develop has Bailey done pioneers, the mineral and resources of the Black Hills of Dakota. Stone Pasha reviewed the Sixty"ninth regiment in New York Thursday night. He wore his Egyptian uniform, saluted the as it passed in review with and bore the his yataghan, regiment decorations of the Turkish order of the Medjidieh and of the crown of boiy on his breast. Robert Seney, a son of the president of the Metropolitan National bank, and a member of the firm of Nelson, Robinson & Co., of New York, was just about to start from London on a six-weeks' tour of the continent when he heard of the embarressment of his father's bank and the suspension of his own firm, and started for home. James Whitcomb Riley, the Indiana poet, whose verses are everywhere quoted, was born at New Bedford, Mass. Capt. Riley gave the young man an ample fortune when he attained his majority, and young James invested the bulk it in hotel, which he named the of a his hotel Ocean View house. Riley sold in the winter of 1878, invested hismoney in Pennsylvania oil, lost everything, and thon moved to Indiana, to try farming. Mrs. Belva A. Lockwood, the woman lawyer, is to deliver her lecture, "The Statesman and His Shortcomin on the 30th. ings," American Chicago In recent- this lecture, delivered in Washington ly, Mrs. Lockwood's strictures on Blaine and Tilden were so severe that the friends of those gentlemen asked her to leave those passages out hereafter. Mrs. Lockwood has in her possession photographic copies of the "Mulligan letters," which she will exhibit to her audience.

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Fire Record and Trade Notes The skilled employes of Bailey, Farroll & Co., machinists, of Pittsburg, were notified Friday of a reduction of 10 to 15 per cent. in wages, to take effect next Monday. Application was made in St. Louis Friday afternoon for the appointment of B receiver for the Harrison wire works It is believed the company's liabilities will exceed its assets by $400,000. The Canton Cutlery company, of Canton, Ohio, employing 100 hands, was closed Friday by the sheriff upon judgments amounting to $20,000 Bamberger & Co., wholesale clothiers, of Cincinnati, have assigned. Their liabilities and assets are estimated each at $50.000. N. C. Snider & Son, banke 8 of Grenada, Missiesippi, have made an assignment. It is said that th will pay about 50 cents on the dollar. The firm were rated at $40,000 to $75,000. The directors of the Metropolitan National Bank of New York have issued a circular to the stock holders asking permission to put the concern into liquidation. W. Lind & Co., wholesale batters and furriers of London, Ontario, have made an assignment. Liabilities, $30,000 assets, $30,000. An incendiary fire at Montague, Michi gan, on Thursday night, destroyed thro opera house block, the postoffice. the express office and the office of the Weekly Lumberman. The losses are estimated at $70,000. The fires in the woods and cranberry patches in Atlantic county, New Jersey, continued Friday. Among the lossea 18 $15,00 to the Atlantic Cranberry company, 275 acres of their bog being burned over.

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TELEGRAPHIC BREVITIES

The Hennepin Canal Company met at Chicago. Several cases of cholera are reported at Santiago. Snow fell yesterday in many parts of the country. H. H. Dennis, grain commissioner, Chicago, failed. The British squadron in Chinese waters is to be rwinforced. The dry goods store of Harvey Brown burned at Girard, Kas. Hyatt, Levings & Co., bankers, Vincennes, Ind., suspended. The Metropolitan National Bank of New York will go into liquidation.

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MAY

6 Morrison bill to reduce the tariff by 10 per cent defeated in the house, 159 to 155. Failure of the Marine bank, New York. 8 Failure of Grant & Ward. Bill passes house appropriating $1,000,000 for New Orleans exposition. Passed senate May 15. 10 Greely relief expedition sails. 14 Failure of the Metropolitan national bank of New York. Collision on the Baltimore & Ohio railroad near Connellsville and 14 men killed. 15 W. X. Ninde, J. M. Walden and W. F. Mallalieu elected bishops of the M. E. church. 19 Earthquake on island of Kishur, at mouth of the Persian gulf; 12 villages destroyed and 200 lives lost. 22 Suspension of the Penn bank, Pittsburg. 23 Berber, on the Nile, captured by the rebels, and 3,500 priseners massacred. 29 Postage on newspapers reduced to one cent for four ounces. Gen. Benjamin F. Butler nominated for the presidency by the national greenback convention at Indianapolis. 30 Collapse of a large warehouse at Baltimore, causing death of eight persons. 31 Dynamite explosion in Scotland Yard, London. JUNE.

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THE EQUITABLE BUILDING TO BE ENLARGED.

The Equitable Life Assurance Society has for a long time owned the building at No. 112 Broadway, next its office structure, occupied by Delmonico. It purchased at the receiver's sale of the Metropolitan National Bank the property of that bank at No. 110 Broadway, and thus secured the entire Broadway front froîn Cedar to Pine-st., on the east side. It has also purchased four lots in Pine-st., in the rear of the bank building. It thús owns the entire block, except the Nassau-st. buildings. The leases of this property will all expire by May, 1886. It is the intention of the company at that time to begin the erection of an extension to its present building over the newly acquired area. The company requires additional office room for its own business and will thus secure it on the same floor, instead of occupying another floor of its present structure. The low price of building material and especially of iron required in fire-proof buildings is considered a great inducement for the erection of the new structure as a business investment. The present accommodations for banks, bankers and lawyers will be at least doubled. Plans are now being considered and matured.

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BETTLING THE METROPOLITAN BANK AFFAIRo

To the Edator of The Trioune. SIR Will you oblige an interested reader by publishing information relating to the Metropolitan Bank, of New-York City I Who 18 the receiver. and is there any hope for the stockholders I Widows and orphans have been wronged by the officers of the Metropolitan Bank, and when we complain no notice is taken E. BELDEN. of the letters, nor explanation made. Guilderland, Albany County, N. Y., Dec. 14, 1885. [The Metropolitan National Bank resumed business after the suspension in the May panic of last year, but in the following November the stockholders voted to wiud up its affairs in voluntary liquidation. The depositors have been paid in full, with the exception of a few who have not called for their money. The affairs of the bank are carefully supervised by the directors and also by the Loan Committee of the Clearing House Association. The stock has sold below 9 in the open market, but at present about 30 is bid for it. George J. McGourkey, the cashier, said the other day that no letters from stockholders had been received which had not been promply answered.-Ed.]