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FROM ALL QUARTERS. A FINANCIAL CRASH. Disasters Falling Thick and Fast. WALL STREET IN A PANIC. Many Firms Caught in the Whirl. A RAPID ROUND OF FAILURES. The Day a Second Black Friday. A WALL STREET CRASH. A Paule on Change- Failures Fellow Each Other in Rapid Succession-Old Houses Caught 1a the Whirl-Philanthropist Seney Among the NumberBank Closes its Doors The Story of a Day That Was Another Black Friday NEW YORK, May 14.-The financial complications of the past week resulted to-day in a succession of disasters that made the wildest havoc in Wall street. The announcement of failures began with the opening of the Stock Exchange and succeeded each other rapidly, each new disaster adding to the panicky feeling which manifested itself in all directions. The first failures published were those of Nelson Rebinson & Co. and Goffe & Randle. Soen afterward it was known that O. M. Bogart & Co. had suspended. This announcement was soon followed by the suspersion of J. C. Williams. The excitement was greatly intensified when it was first whis pered that Hatch & Foote had been compelled to cease business, and almost immediately afterwards it was rumored that the Metropolitan bank had closed its doors. This Fumor was premature, but it was not long before it became fact and the doors of the bank were actually shuf. The street was wild with excitement and it seemed that another black Friday had cast its bale ful light upon the financial horizon. Men and boys were rushing about, forcing their ways through the crewds that stood wedged in the streets about the Exchange. The news of the disasters seemed to have spread with wonderful rapidity. Private carriages, with liveried servants, from the up-town districts WERE SEEN FLYING THROUGH THE STREETS, and many stood outside the doors of the various banks and banking-houses The directors of nearly all the banks were either in session or present in their buildings ready for any emergency. The doors of the Stock Exchange were guarded by policemen and the visitors' galleries were cleared. No one was admitted to the building except members, clerks, and messengers. This was done because the crowd endeavoring to get admits tance grew too large for the capacity of the building. THE FIRST FAILURE OF THE DAY, that of Nelson Robinson & Ce., wascaused, according to the statement of Mr. Robinson, by the general shrinkage of securities, the disturbed condition of the times, and the circulation of disquieting rumors. He was unable to furnish any statement of liabilities and assets. Most of their loans, he said, were well protected, if the holders did not lose their heads and want to get their money in day. Mr. Randall, of Goffe & Randall, said their failure was due mainly to the troubles of Dyett & Co. Orlando M. Bogart, of O. M. Bogart & Co., said their suspension was due to the indirect influence of the Grant & Ward failure, the shrinkage in 80curities, the many calls on the firm for mon losses through outside parties. The firm simply unable to withstand the general pressure upon it. He could not make any statement of assets and liabilities, but he knew that the present condition of affairs was bad. The firm had been established, he said, for at least twenty five years Tb assignee, Mr. Wheeler, said that he had unex pectedly been called to his position, which he bad accepted reluctantly, and that he was un able to give any information as yet in regard to the firm's affairs. Bogart & Co. give preferences for $55,000. THE SUSPENSION OF JOSEPH C. WILLIAMS was announced early in the day. He bad not been large speculator and the number of his creditors is probably small. THE FAILURE OF HATCH FOOTE caused great excitement, as the firm has long been prominent on the street Mr. Foote said the failure was due to the embarrassment caused by the shrinkage of securities, some of which belonged to the firm, while others were carried for customers. The firm made an assignment to Henry W. Reighley, and the liabilities are thought to amount to half million. But the greatest sensation of the day came when the news was announced that THE METROPOLITAN BANK HAD SUSPENDED. The first news came that the suspension had been ordered by Mr. Seney, the president, in order to prevent run for which the bank might not be prepared. The failure is generally supposed to be due to the railroad speculations of President Seney. The bank owes the clearing house $500,000. AT THE MEETING OF BANK PRESIDENTS this afternoon a committee was appointed to examine the assets of the Metropolitan The bank and ascertain its actual position. committee was instructed to assure the bank tust if the examination proved satisfactory the associated banks would do all in their power to allow the Metropolitan to resume business The committee at once proceeded to the bank and began its nvestigation. The committee also adopted the following Resolved, That in view of the present crisis the banks of the Clearing House assooi ation, for the parpose of sustaining each other, do appoint committee of five to receive from the banks members of the association bills receivable or other securities to be appropriated by said committee, who shall be authorized to issue therefor to such depositing banks loan certificates bearing interest at six per cent. per annum, not in excess of seventy -five per cent. of seou: rities or bills receivable 80 deposited except in the case of United States bonds, and said certificates shall be rece in settlement of balances at the clearing house THIS ACTION HAD GOOD EFFECT on the street. perintendent Camp, of the clearing house, said to reporter: "In 1878 we made the fatal mistake of not appointing a committee on the first day. Deferring action was disastrous. hope this trouble will be over to-morrow and we are doing our best to end it." It is agreed by all that the scenes of excitement in and around the Exchange to day equalled those of 1873. In the midst of the panic, however, few cool headed "old stagers" were observed to be buying large amounts of stock at around the lowest figures touched. BRADSTREET'S SAYS HATCH FOOTE had been in business eighteen years and had never before been seriously embarrassed. They were supposed to be worth $500,000 They were great bulls in the market and have lost heavily. One of their Washington customers who sold out his long stock last week and went short is said to have made $100,000 profit by the turn, but this is swept away with the rest of the firm's losses. The firm had large patronage in Washington including judges, senators, representa tives and politicians. Donnell, Lawson & Simpson's failure was due large deposit being looked up in the Metropolitan bank. They did large business in State, county and municipal bonds and were the financial agents of Missouri, Kansas, Nebraska and other western States. The senior partner, Robert Donnell, is of the firm of Donnell, Clark & Larabee, bankers at Butte City, Mentana, and part owner of the First NaLodge. Montana The
