16003. Hotchkiss & Burnham (New York, NY)

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: May 14, 1884
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 45b4aaa7

Response Measures

None

Description

Contemporary articles report Hotchkiss & Burnham announcing suspension during the May 1884 Wall Street panic (around May 14–15) and later are explicit that the house failed; a firm partner (J. W. Burnham) committed suicide and the house is described as having failed during the recent panic. There is no clear, specific description of a discrete depositor run on this particular house in the provided articles — coverage emphasizes the broader panic/speculation and multiple suspensions — so I classify this as a suspension followed by permanent failure/closure (suspension_closure). Dates use newspaper publication dates when specific days are not given in text.

Events (3)

1. May 14, 1884 Suspension

Cause: Macro News
Cause Details: Suspension occurred amid the widespread May 1884 Wall Street panic and speculative failures; articles link their suspension to the general crisis rather than a discrete bank-specific scandal or a corrective misinformation event.
Newspaper Excerpt: Hotchkiss & Burnham have just announced their suspension at the stock exchange.
Source: newspapers

2. May 20, 1884 Other

Newspaper Excerpt: President Arthur lost $60,000 by the failure of Hotchkiss & Burnham, the Wall street bankers with whom he did business, and who suspended during the panic last Wednesday.
Source: newspapers

3. June 27, 1884 Other

Newspaper Excerpt: J. W. Burnham, of the firm of Hotchkiss & Burnham, New York, bankers and brokers, which failed during the recent panic, committed suicide at Yonkers Tuesday morning, on account of depression caused by the failure.
Source: newspapers

Newspaper Articles (9)

1. May 15, 1884 Evening Star Washington, DC

Click image to open full size in new tab

Article Text

anxious faces are to be met with. It seems be generally accepted as a fact that the worst is over, and many capitalists are beginning to discuss the question as to whether now is not the time to buy for a rise, and some few are buying. This fact in itself relieves the situation of one of its most dangerous elements, namely, the withholding of capital from the market. THE METROPOLITAN DIRECTORS have accepted the resignation of President Seney, and have elected Vice President Jacques to succeed him. The manager of the clearing-house reports that the clearances of the Metropolitan bank have been effected. Failure of a Boston Firm. WALL STREET, 11:30 a. m.-A dispatch from Boston reports the suspension of F. A. Hawley & Co., firm which, although not heavy dealers, were regarded as of good standing. Hotchkiss & Burnham Expect to Resume. Messrs. Hotchkiss & Burnham are engaged in the work or balancing their accounts, and expect to be able to resume business to-morrow morning. The Crisis Past. WALL STREET, 11:45 a m.-Comparative quiet reigns on the stock exchange. It becomes parent every moment that the crisis is past. The suspension of Hawley & Co., of Boston, was caused by a run on the banking department of the house, and It is believed that it will be merely temporary. Among those bankers who have received orders from London and the continent to buy American securities in this market are Belmont & Co., J. W. Seligman; Drexel, Morgan & Co.; Morton, Bliss & Co.; L. Van Hoffman & Co.: Kuhn, Loeb & Co.; Ludwig. Thaiman & Co.; J. H. Davis & Co., and D. Probst & Co. Only a Few Depositors Drawing their Funds from the Metropolitan Bank. NEW YORK, WALL STREET, May 13, 12:15 The Metropolitan bank has resumed and is paying out to all depositors presenting checks. Even before the hour named for resumption the paying teller opened his window and the first man in line received his money. This Individual was an old weather-beaten man, who evidently drew out all his holdings, as the pile of greenbacks handed to him made a goodly show and were carefully stowed away in his inner pockets after many giances at his neighbors, of whose probity he was evidently by no means certain. At noon the number in line was not over twenty.five, and was composed principally of boys and clerks, some of whom only required the certification of checks. Only one lady was among the list, she being attired in widow's weeds. Her gratification on receiving her money was plainly written on her countenance The small number or those drawing out their funds is regarded as very promising for the future of the bank. A Break in the Stock Market. NEW YORK, WALL STREET. 1:20 p. m.-The share speculation has been weak lower on unfounded reports of further failures or stock houses. Louisville and Nashville broke to 31, Lackawanna to 111%. Western Union to 53% and Missouri Pacific to 7014. The New York Produce Exchange all Right. NEW YORK, May 15.-No troubleat the produce or petroleum exchanges. Rebound in the Chicago Markets. CHICAGO. May 15, 11 a.m.-Markets opened with strong upward bound this a.m. and starting prices were 1a1) over best figures of yesterday. Attachment Suit of the Metropolitan Bank. CHICAGO, May 15.-A special to the Daily News from Peoria says: The banking firm of Callender, Ayers & CO., correspondents of the Metropolitan bank of New York, yesterday began an attachment suit for $25,000, and levied upon thirteen city lots, which are considered ample to cover the amount. Upward Turn of Philadelphia Stocks. PHILADELPHIA. May 15. 11 a. m.-Business opened this morning on 3d street with a decidedly better feeling. Philadelphia stocks all took an upward turn on the strength of the announcement that the Metropolitan bank would resume at noon. Anxiety Among Americans in London. LONDON, May 15.-The failures in New York have caused great anxiety and excitement among Americans residing here and having business connections or interests in the United States. The anxiety is particularly painful among travelers, and many of them have decided suddenly to terminate their trips and to return to America Confidence of English Capitalists in American Securities. LONDON, May .-The agent of the Associated Press called upon the leading bankers having important American connections, with a view to learning their opinions concerning the panic yesterday in Wall street. The feeling generally expressed was one of confidence that the panic should be considered a merely local occurrence. They were positive it would occasion no failures in London, either inside or outside the stock exchange. The general soundness of the financial situation here is evidenced by the fact that there has not been rumors of large failures. The remarkable decline of American securities during the past few days has attracted a new class of investors into the market, who are stimulated also by the cheapness of money in England, Germany and France. One prominent banker said it was amazing how little real stock was being sold here, but be said the bear sales were immense. The market shows a strong disposition to respond to anything favorable from America. The participation of bank officials in fraudulent schemes was severely censured. This one thing had done more than anything else to weaken public confidence.

2. May 16, 1884 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, May 16, 1884

Click image to open full size in new tab

Article Text

Notes of the Street. Bramm Bros., of London, reduced exchange to $4.86 %/44881/2. Foreign purchases of stocks and bonds are heavy. Orders began to arrive yesterday afternoon, and have steadily kept up. Hotchkiss & Burnham are balancing their accounts, and expect to resume to-morrow. Among the bankers who received orders from London and the continent to buy American securities in the market are Belmont, Seligman, Drexel Morgan, Morton Bliss, L. Von Hoffman, Kuhn, Loeb, Ludwig, Thalman, and J. H. Davis. The clearing house has already issued $4,000,000 of the new loan certificates authorized to be given to the members of the bankers' association applying therefor. It is stated that the Bank of Commerce was this morning a debtor to the clearing house over $1,500,000. "The worst is now over," "banks are all right," "Jay Gould won't let the market break," was the morning talk on the street. At the produce exchange there was no excitement. The market was firmer and business comparatively light. At the petroleum exchange there was little doing. It opened higher, but lost the advance, and now is steady at yesterday's prices. It does not look like trouble at the produce or petroleum exchanges. There was a slight run on the Bleeker street savings bank to-day but it subsided at noon. Manitoba and St. Paul stocks bounded up 5 points as soon as the exchange opened.

3. May 17, 1884 The Dillon Tribune Dillon, MT

Article from The Dillon Tribune, May 17, 1884

Click image to open full size in new tab

Article Text

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.

4. May 17, 1884 The State Journal Harrisburg, PA

Article from The State Journal, May 17, 1884

Click image to open full size in new tab

Article Text

SECOND DAY OF THE PANIC. Another Season of Excitement in New York. NEW YORK, May 15.-Just before the opening of the Stock Exchange the crowd was larger than usual, waiting for the signal to begin. Just as the hands of the big clock marked 10 the president gave three raps of his gavel, and in an instant the pent-up excitement gave vent in a howl, and five hundred hands were lifted in the air and the various pools were formed. Five minutes afterwards Dimick's failure was announced. A great crowd has gathered in the streets again to-day. Quiet Reigns-The Worst Over. NEW YORK, May 15-11:45 A. M.Comparative quiet reigns at the Stock Exchange, and it is believed the worst is over. The Metropolitan Bank Resumes. WALL STREET, May 15-12:15 P. M.The Metropolitan Bank has resumed, and is now paying all depositors presenting checks. There are not more than twentyfive in line. Hotchkiss & Burnham expect to resume to-morrow. President Seney's Successor. NEW YORK, May 15.-Vice President Jacques has been electod president o! the Metropolitan Bank, vice Seney, resigded. Cause of Mr. Seney' Failure. WALL STREET, May 15-12:15 P. M.A prominent Wall street man who has been connected with Mr. Seney in most of his operations states that one of the inmediate causes of his embarrassment was that he was loaded up with large blocks of Atlantic and Pacific inçome bonds and St. Louis and San Francisco securities, on which he was unable to realize. He also states that Mr. Seney was, as he calls it, "stuck" with a lot of Ohio Central, which was forced on him at high figures on representation, which subsequently proved to be false. His resignation from the presidency of the Metropolitan bank is regarded as a wise step, as it leaves him freer to act for the best interest of his personal affairs than he could have done while allied so closely to a great banking institution. Tumble in Louisville and Nashville. WALL STREET, May 15-1:15 P. M.Louisville and Nashville has sold down to 31, a fall of 7 per cent. The break is due to a report of a large defalcation in the company's officers. President C. C. Baldwin, of the Louisville and Nashville, denies that there is any truth in the report, and brands it as a malicious lie. The suspension of A. W. Dimick & Co., it is said, will prevent the contemplated extension of the Bankers' and Merchants' telegraph system. Run on the Bleeker Street Bank. NEW YORK, May 15-There was a run on the Bleeker Street Bank to-day and a good deal of excitement for some time, but towards afternoon the rush dwindled down, and all seems clear again. Fisk & Hatch Suspend. WALL STREET, May 15-2:45 P. M.Fisk & Hatch have suspended.

5. May 20, 1884 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN

Article from Memphis Daily Appeal, May 20, 1884

Click image to open full size in new tab

Article Text

STOCK GAMBLERS Discussed at Length in the Senate, and Their Pernicious Influence in the Recent Money Troubles in New York Shown Up-The Dangers of Speculation by Bank Officials. The Whole Subject Probably to be Investigated by a Congressional Committee-In the House. [SPECIAL TO THE APPEAL. WASHINGTON, May 19.-President Arthur lost $60,000 by the failure of Hotchkiss & Burnham, the Wall street bankers with whom he did business, and who suspended during the panic last Wednesday. GRANT WARNED. A friend of Gen. Grant, a broker in this city, says he warned Gen. Grant three months ago that his partner Ward was dealing wildly, suggesting that trouble might come from it. Gen. Grant expressed confidence in Ward, and said that his son Fred was an excellent business man, and competent to look after the Grant interest. POTOMAC SHAD. Two especially prepared cars of the United States Fish Commission, containing 100,000,000 young Potomac shad, left here to-day for the South, where the fish will be distributed in the streams tributary to the Gulf of Mexico. About six weeks will be employed in the distribution. Within the last month the commission has distributed 60,000,000 whitefish in the waters of Lakes Michigan, Superior, Ontario and Huron. As illustrating the enormous productiveness of the Potomac shad, Prof. Baird said to-day that the spawn of fifty female fish, if successfully hatched and raised, would cover the entire present consumption of that fish in the United States. THE DINGLEY BILL. The Banking and Currency Committee will hold a meeting to-morrow for the purpose of determing upon the best means to adopt to secure the passage of the Dingley bill. The committee will urge its consideration and passage at once. The Dingley bill authorizes the Secretary of the Treasury to invest in bonds the lawful money deposited by banks for the retirement of circulation. It is claimed that the passage of this bill will put in circulation over $40,000,000, which will go a long ways toward restoring confidence in the money centers of the country. A similar bill offered by Mr. Mills, of Texas, is now pending in the Ways and Means Committee, and probably that committee will be asked to report it at once as a privilege matter. Everyone agrees now that the passage of the Dingley or Mills bill would be a boon to bankers, and would not affect the government.

6. May 20, 1884 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN

Click image to open full size in new tab

Article Text

MEMPHIS. TENN. TUESDAY. MAY 20. 1884. CYCLONE IN ILLINOIS. very careful in a question of this kind. ning, but owing to MAY TERM STOCK GAMBLERS He had been in New York the day when as prevented from Meager Reports of a Disaster Ne the trouble referred to occurred, and he of gentlemen met, Quincy. could assure the Senate that, although Iaj. J. J. Horner there might here and there have been an Straub made the QUINCY, ILL, May 19.-Meager particular overcertification of checks, yet that had Discussed at Length in the Senate, and at an Executive or the Criminal Court Begun Yesterday lars have been received here of a cyclon not been the trouble at all. In every I by the Chair, to which stated that last evening in Melro Their Pernicious Influence in -Grand, Petit and Special Juries case the trouble had been caused by spectownship, four miles southeast of her be held Tuesday, the Recent Impaneled. ulative operations of officers of the m of the Helena near the point of starting, buildings an banks affected. and in some cases not fences on two well-improved farms we plans for proceedby certifying checks, but rather by nonxhibit at the Cotwrecked and some blooded stock scattered certification. The proper remedy would Fortunately, nobody was hurt. It I make such suggesbe to prescribe severe penalties against feared that much damage was don may deem proper, Money Troubles in New York Shown Case of the State Against Charles and any dealing in speculative transactions by above motion the further east, but as there is no telegrap Up-The Dangers of Speculation Walker Winston for Assaulting officers of banks or using the money of in that direction the facts are not now ol lowing gentlemen tainable. the bank in any transactions that such C. Tappan, N. by Bank Officials. Weaver Taken Up. officers might engage in. Senator SherW. Keesel and J. Wrecked by a Wind-Storm. man saw no special ue in a committee of COLUMBUS, O., May 19.-A heavy win investigation in New York. We had govTappan, the Chair and rain storm visited the village of Tarl ernment officers there who could give committee. This The Whole Subject Probably to be InWeaver Weakens and Declares He was ton, Pickaway county, this afternoon, an all needed information. If the committee h its footing the about thirty houses were unroofed, bein were to go there, make a commotion and vestigated by a Congressional Comcounty being well Not Very Badly Hurt-A Vernearly the entire village. Fences wer kept up the agitation in regard to the failn Centennial, and mittee-In the House. blown down, trees uprooted, and a ma diet of Guilty. ures there, it might embarrass others. To try that should be named Karshner dangerously injured bj call the recent trouble a panic was applynt's weary this a falling blacksmith-shop. The sam ing to it a misnomer. There had been no s of this section storm passed the vicinity of Lancaster panic. The people in New York had not elict in presenting [SPECIAL TO THE APPEAL.] Fayette county, where several building been alarmed. The securities specially and advantages of The Criminal Court was organized yeswere unroofed and the amphitheater a affected had been those involved in transWASHINGTON, May 19.-President Arore the outside terday for the May term. the air-grounds and race-course destroyed actions exposed by the failures. But conthur lost $60,000 by the failure of HotchThe following grand was impaneled: Several horses were killed by falling fidence in the standard securities of the Alf Tuther, foreman; Z. T. Reeves, Green kiss & Burnham, the Wall street bankers barns. E, MISS. country had not suffered. It was Evans, W. W. Schoolfield, Walker Edwith whom he did business, and who suslike a case of storm confined to wards, W. D. Dunn, S. H. Dunscomb, Louisville Cement. ase-The Circuit pended during the panic last Wednesday. the locality of New York City and James T. Biggs, R. D. Goodwin, T. A. PREPARE FOR FLOOD. Docket. not extending over any other part of the GRANT WARNED. Hamilton, R. M. Mansford, Robert Jones APPEAL.] Foundations, cellar walls and building country. It had resulted in clearing the and A. C. Mauldin. A friend of Gen. Grant, a broker in this subject to overflow should be constructed ay 19.-Early yesatmosphere, and left the present commerSPECIAL GRAND JURY. with Louisville Cement. It is Standard city, says he warned Gen. Grant three Garth plantation, cial position better than it had been beThe following order was entered: It fore the recent trouble. months ago that his partner Ward was The New President of the Louisville an appearing to the Court that the different Wm. Granberry, Nashville. Senator Morgan said he feared the Seradealing wildly, suggesting that trouble public offices of Shelby county and the stantly killed Ike tor from Ohio (Sherman) was mistaken if administration of the offices thereof NEW YORK, May 19.-J. Rogers, elect might come from it. Gen. Grant exrson was present. ed president of the Louisville and Nash he supposed that any injury would co. e should, for the public good, be thoroughly pressed confidence in Ward, and said that to the proper business of the country by ville railroad, has reported the defalcation the killing in selfexamined by competent, thorough and exhis son Fred was an excellent business in accounts as unfounded. an investigation. The business of the perienced accountants; and it further ap3 trying to cut him country did not mean the operations of pearing to the Court that the grand jury man, and competent to look after the e timeheshot him. So You Will Find. stock-jobbers. Senator Morgan critifor this court cannot, by reason of their Grant interest. ation was had, as "Benson's Capcine Porous Plasters ar cised the action of the Secretary of the other public duties, make said examinaPOTOMAC SHAD. in the highest degree reliable," says D Treasury for his interference in the late enes here to-day. tion of the offices of the public officers of Two especially prepared cars of the Kakoff, of New York. 25c. troubles, and the officers of the governShelby county, and for the same reason investigated by the United States Fish Commission, containment generally for not seeing that the the judge of this court cannot make said made no attempt ing 100,000,000 young Potomac shad, left banking laws were enforced. We might examination. It further appearing that it rrespondent is inhere to-day for the South, where the fish as well, he said, farm out the United States od character. He will be necessary to examine the offices of will be distributed in the streams tributary to faro-dealers on Pennsylvania avenue as to await the action said officers for the past two years or to the Gulf of Mexico. About six weeks to allow the national banks of New York more, and that considerable time and labor will be employed in the distribution. to farm out their credit to stock-gambling ed at 11 o'clock towill be required to makes examination, Within the last month the commission Apollinaris and other speculative operators, the men and that it is impracticable to require the old presiding. Mr. has distributed 60,000,000 whitefish in the TABLE who made it a business to buy and sell regular grand jury to perform said labor, ey, and all the waters of Lakes Michigan, Superior, OnHOQEE Nor things that had no existence, and therefore the following named persons are re present. J. W. tario and Huron. As illustrating the WATERS that were well characterized by the appointed by the Court as jurors for the is place, was apenormous productiveness of the Potomac question on imaginary and mythMay term of this court: James E. Goode criminal docket, shad, Prof. Baird said to-day that the ical existences, propounded a few lett, John T. Willins, C.T Dobbs, Use nothing but Natural Mineral taken up this week. spawn of fifty female fish, if successfully days ago in New York by Coffin, James E. Beasley, John M. Peters, he grand jury was If ater, such as APOLLINARIS, hatched and raised, would cover the enFrancis N. Bangs to Ferdinand Ward. ion to crimes emT. J. Brogan, Ed Oliver, E. L. McGowan, tire present consumption of that fish in the free from all vegetable poisons." Senator Morgan feared much, however, I. N. Snowden, S. M. McCallum, J. W. alendar. United States. Boston Journal. that the parties who had so long been the Fulmer, T. R. Farnsworth, C. N. Gros1 Col. S. M. Muse, THE DINGLEY BILL. pets of the government would at last be venor, D. F. Jett, L. Wellford and J. M. from this district, The Banking and Currency Committee ANNUAL SALE, 10 MILLIONS. permitted to subside into quietude and of this place this Fowlkes; and said persons are appointed will hold a meeting to-morrow for the OfallGro:ers, Min. Wat. Dealers. peace among the millions they laid aside, to examine into and to report to this court these gentlemen purpose of determing upon the best means while those who had been wronged would district would be in writing the true condition and manageto adopt to secure the passage of the DingBEWARE OF IMITATIONS. remain unavenged. Let the Committee ment of all the public offices in Shelby national Congress. ley bill. The committee will urgei conon Finance, said Senator Morgan, in concounty during the past twelve months. bung man of fine sideration and passage at once. clusion, for once do its duty to the governW. N. Brown, Pres't. I Jno. Overton, J st graduates of the A TEST CASE. The Dingley bill authorizes the Secrement. The resolution was referred to the I anical College, and Mr. J. R. Godwin, who had been sumtary of the Treasury to invest in bonds Committee on Finance. on, died this eventhe lawful money deposited by banks for moned as a grand juror, appeared in court A message from the House was read, the retirement of circulation. It is claimed h regretted by the and refused to serve on the ground that he announcing non-concurrence in the Senate had already served a term in the Circuit that the passage of this bill will put in amendments to the Indian appropriation circulation over $40,000,000, which will Court and was exempt from jury service. SINGER bill. The Senate insisted on its amendgo a long ways toward restoring confiHe raised the question as to whether or ments, and agreed to a committee of conVAND dence in the money centers of the country. not the statute was broad enough to cover ty Reception at ference. I Assists at a Conthose cases when citizens who had served A similar bill offered by Mr. Mills, of The Chair having announced the regular Texas, is now pending in the Ways and in one court were immediately sumorder to be the Utah bill, Senator Hoar F THE APPEAL.] moned for service in another. He was Means Committee, and probably that Insurance consented to let it go over temporarily, ay 15.-Our people committee will be asked to report it at fined $25 and took an appeal. t is underand the bill for the creation of a bureau pleasure of hearing stood to be a test case. once as a privilege matter. Everyone of laber statistics was taken up, but bef your city, in conagrees now that the passage of the DingNo. 41 Madison St CONSTABLE AND FOREMAN. fore any conclusion was reached the Senate a certain proprieley or Mills bill would be a boon to bankE. E. Colby was sworn in as constable went into executive session and soon young lady, as the ers, and would not affect the government. in charge of the grand jury and James E. adjourned. THE SHOE STORE e were spent here, Goodlett made foreman of the grand jury. Before adjournment Senator Hale gave cond visit to her THE COTTON CENTENNIAL. PETIT JURY. notice that to-morrow he would call up ying it to reside in Outline of the Exhibits to be Made by V. C. Mosely, T. A. McGowan, J. R. the agricultural appropriation bill. number of relatives NER 7EI the Executive Departments. Penner F Craig IL Morton

7. May 22, 1884 The Dallas Weekly Herald Dallas, TX

Article from The Dallas Weekly Herald, May 22, 1884

Click image to open full size in new tab

Article Text

The Crisis Believed to b) Passed. New YORK May 14.-The scenes in the stock exchange was one of intense (X citement this morning. There was rush to sell stock, partly on account of brokers being unable to meet engage. men's Before 10:15 Nelson Robirson Co. and Geoff & Randall announced suspension. There was A drop of to 34 percent. compared with yesterday from closing down. The movement being no. orderated by the rumors of several bull pools being forced to liquidate. J. J.O. C. Williams, broker, says he will announce his suspension later in the day. Several tocks were bought in under the rule this morning The account of the clearing house has been received as follows from the N ati nal bank examiner. Scriboer: "After investigation of the Second National bank find it absolutely eate." Hatch & Foote announce CA their suspension at the stock exchange. Thestock market isragged. Some SLOCKS are show showing ing sharp recovery and others at the lowest price for the day Failures have stopped for the moment but the air is thick with rumors of further suspensions. Few know precisely where ney stand and the situation is strained. The Metropol tan bank has suspended and their doors are closed. George Isney is president. G M Bogart and Co. have are ed to J no Wheeler; preferences $86. 000 Secretary of the treasury Folger is in town and telegraphed 10 Washington, or. dering the immediate payment of the 127 b call for bonds. It necessary he orders $1,000,000, for another The failure of Hatch & & Foote was precipitated by he Pace iix bank refusing to certify their checks A meeting at the clearing house was called for 1:30 p. m. to-day to consider the financial situation. The banks are crowded with anxious depositors. is im. poss ble to get near one in authority The financ al comp ica ion feation for the past weck, supplemented by the revelations regarding the management of the Second Nat National bank, which resulted in the resignation of the president, br ught about such faeling of uncertainty in the financial sit. nation that at the opening of the business wes it this morning exchange stock the felt that felt that disaster was imminent before long. announced was another after tailure One until five stock fi ms suspended and the Metropol tan National bank closed its doors. Its president. George F. Seney, has been one of the most prominent speculatore on the xeb inge, and rated high. Tbe failure of Hatch & Foote will likely nv involve live many country firms. as they held the accor of many private bankers out. side of New York as well RS individuals west and south Secretary Fo Folger, ger, who is in the city, telegraphed to Washington to take Union Pacific bonds the 127th call on presentation of the bonds notdue until June 20th. The secretary further promises such steps as to relieve the present situation on all Wall street. Bogart & Co.'s failure is considered important as they are large dealers in commercial paper. They dealt somewhat in privileges and were considered solid on Wall all boards The streets surrounding the stock exchange were filled with surging masses, and the galleries overlooking the trading room were crowded to repletion. The excilement on all sides was almost unprecedented, and on the floor of the ex. change all was confusion. There is litile business being done. The sale accounts are suspended, firms making but little show of business The situation is decidedly pan icky, icky, and further failures are looked for. Distrust is the most prominent feature, and banks banks carefully scrutinize accounts. The Phoenix bank refused to certify the checks of Hatch & Foote, and this this was was the immediate diste cause of the suspension. A meeting of the clearing house has been called to discuss the situation, which is regarded as Secretar Folger has been at great peril ahe sub treasury all the morning. and was wished b: most all prominent financiers not all Wallstreet. street. He expresses determinapower of the governthe Rill nae 2 and will act are & panic H pay 10 tue unmost limit of his authorQty. 1 1:15 all Wall street was a mass of people from are Trini church to the customhouse CD both sides of the walks and the carriage way was impassable. At the doors of the suspended houses masses of humanity, with many disconsolate faces, gaz ed'on gazedion the closed doors. Among the crowd are seen several well dressed ladies, some present from motives News of disasters the curiosity than other meemed to spread with lightning rapidity. Private carriages with liverted servants from up-town are flying through the streets and many now stand outside the doors of the bank and banking houses. Directors of or in session either banks the all nearly present in the buildings ready for an n emergency. The doors of the stock exchange are guarded by policemen, the visitor's galleries being cleared and no one is admitted to the building except members, clerks and messengers, because the crowd endeavoring to gain admittance was too large for the capacity of the building on Wall street. 12:30 p. m -Sensational rumors are af fecting the safety of several banks, but investigation has proved them false, except in instances of he Metropolitan At 1:30 At 1:30 the excitement in Wall street subsided to a great extent and better feeling prevailed. but the situation is by no means mettled The general impression is the end is not yet. It is stated the largest dealer in privileges on the street was obliged to receive 200,000 shares of "puts. This large block must have called for a heavy drain even on his immense resources. Wall street, 2:50, p. -Hotchkiss & Burnham have just announced their euspension at the stock exchange. Wall street, 2:50 p. m. The m.-The clearing house association has just adjourned, after adopting the following: Resolved, that in view of the present crisis, the banks of this association, for the purpose of sustaining each other and the business community, appointed a committee of five to receive associathis of members banks, from tion, bills receivable or other securities to be approved by said committee who are authorized, therefor, to such deposing banks to loan certificates bearing interest of 6 per cent. per annum, not in excess of 75 per percent. cent. of securities or bills receivable 80 deposited, except in case of United States bonds, and said certificates shall be received in settlement of balance at the clearing house. The The following gentlemen comprise the commitiee: T. T.D. D. Tappen, George S. Coe, J. D. Vermilyes, George G. Williams, W. Д. Wall and Ed ward H. Perkins Wall street, 12.20 p. p. A representative of the Associated Presshas just interviewed a prominent director of the Metropolitan bank, who says emphatically the depositors will be paid in full. The directors have gone through all the securities, and throwing out all lassed doubtiul, have more'than The suspen depositors. to pay enough sion is solely due to the fact that depositors become having the country throughout scarce through the attacks on the president of the bank. Mr. Seney had insugurated general withdrawel of their deposits. This fact, coupled with the general distrust engendered from the in circles, speculative signation critical

8. June 6, 1884 Wessington Springs Herald Wessington Springs, SD

Article from Wessington Springs Herald, June 6, 1884

Click image to open full size in new tab

Article Text

DOMESTIC. THE roof of a tunnel under the Allegheny Mountains at Dexter's Gap caved in the other day because of quicksand. Two men were killed and three others were fatally injured. THE stock speculative dealings in New York opened in a disturbed condition on the 14th, and soon after the Exchange began business rumors of failures created a panic, the following concerns closing their doors: Nelson, Robinson & Co., Gaff & Randall, O. M. Bogart & Co., bankers; J. C. Williams, Hatch & Foot, Donnell, Lawson & Simpson, Hotchkiss & Burnham, the Metropolitan Bank, and the Atlantic State Bank of Brooklyn. Prices suffered seriously, some shares touching the lowest figures for years. The Clearing-House Association adopted measures by which the banks were to stand by each other, and, in a manner, this restored confidence, values showing an improvement at the close. It was confidently asserted that the Metropolitan Bank would soon resume, and that a continuance of the "scare" was beyond the bounds of probability. At leading trade centers there was comparatively no excitement, and a feeling of confidence that no general panic was impendling was expressed. A HURRICANE, accompanied by torrents of rain, prevailed a few nightsago in Jackson County, West Virginia. The rushing streams swept away fences, outhouses, and in some instances dwellings. At Frankland Mrs. Collins and her two chil dren were drowned. IT was discovered on the 14th that John IC. Eno, President of the Second National Bank of New York, was short $2,000,000 in his accounts, but his father made good the deficiency. By collision on the 14th between freight and gravel trains on the Baltimore & Ohio Railroad, near Connellsville, Pa., fourteen laborers were killed and twelve others injured, some of the victims being roasted to death. DR. S. A. RICHMOND'S Medical Company at St. Joseph, Mo., failed on the 14th for $150,000, with no assets. The money was mostly owing to newspapers for advertising. THE Metropolitan National Bank of New York resumed payment on the 15th, and an improved condition of affairs prevailed at the Stock Exchange until about fifteen minutes before the close of business the Mailure of Fisk & Hatch was announced, causing a sensation, as Mr. Hatch was President of the Stock Exchange. Then 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. PRESIDENT ARTHUR on the 15th issued a proclamation restoring to the public domain the lands set apart by an executive order as a reservation for the Jicarilla or Apache Indians in the northwestern part of New Mexico, embracing 307,000 acres. W. BOGAN CASH, the South Carelina murderer of Marshal Richards, was killed the other night while resisting arrest by a posse in charge of Deputy Sheriff King. THE Papacheag Mill, near Worcester, Mass., was burned to the ground on the night of the 15th, causing a loss of $150,000. Several of the employes jumped from the windows, some being fatally hurt. It was feared that bodies would be found in the ruins. THE National Bank of Commerce was organized at Minneapolis, Minn., on the 15th, the capital stock being $1,000,000. Six men were fatally scalded a few days ago by the bursting of a steam pipe at the Pennsylvania steel-works at Harrisburg. THE Tuna Valley Bank at Bradford, Pa., closed its doors on the 15th. SENATOR SHERMAN stated at Philadelphia on the 15th that in his judgment the country was not on the verge of a panic, and that the present troubles were merely local. He said that reckless speculation was the cause of the existing difficulties, and the remedy was for people to refrain from dealing in securities or products which they did not hold or control. He thought the present flury would make the people more cautious, and would turn their attention-more toward legitimate business enterprises. A. A. SHAW, Treasurer of Clare County, Mich., wasbucked and gagged on the night of the 14th, at Harrison, the county seat, and nobbed of $5,000 by unknown men. FULLY 2,000 persons attended the opening of the General Assembly of the Presbyterian Church at Saratoga, N.Y., on the 15th. Dr. Hayes, of Denver, was chosen Moderator. AT the session in Baltimore on the 15th of the African Mt thodist Episcopal Conferonce decided glound was taken against camp-meetings, AT the ninth anntial meeting of the National Temperance Seciety and Publication House in New York a NW days ago it was

9. June 27, 1884 Vermont Phœnix Brattleboro, Bellows Falls, Ludlow, VT

Article from Vermont Phœnix, June 27, 1884

Click image to open full size in new tab

Article Text

# THE NEWS IN BRIEF. -The Bay View house on Fisher's island in Long Island sound, was burned Sunday. -Twenty cheap tenement houses at Shenandoah. Pa., were burned Monday, rendering 300 people homeless. -Gen. Grant will occupy his Long Branch cottage this summer, with his son Fred and family as guests. -J. W. Burnham, of the firm of Hotchkiss & Burnham, New York, bankers and brokers, which failed during the recent panic, committed suicide at Yonkers Tuesday morning, on account of depression caused by the failure. -Alice N. Wells of Boston, while viewing the machinery of a large grain elevator at Chicago on Friday was caught in the machinery and crushed to death. -Louis Wampler, a man who had recently killed his uncle and aunt and their four cousins at Pleasanton, Kan., was on Monday brought into that town a corpse from Arkansas, where he had killed himself to escape his pursuers, and the whole town went wild with joy and fired cannon and anvils to express their delight. -A negro row occurred in the usually quiet neighborhood of Hinsdale, Mass., early Sunday morning, and resulted in the fatal shooting of one negro and the burning of a house and two barns. The negroes had been drinking, and the trouble began while the party were on their way home. Chas. Anderson, leader of the gang, shot Leslie Perslip in the head, and then with an accomplice named Jones, attempted to break into Jas. Dowling's house. On being driven away by Dowling, who had armed himself with an axe, they set fire to his two barns, which with the dwelling house and its contents were burned before the neighbors arrived. Anderson and Jones have been captured. There is great excitement in the vicinity. -Probably the oldest minister in the country died at Norwich, Ct., Tuesday, in Rev. David Nilos Bentley, a Methodist, 99 years old. He was one of Lorenzo Dow's converts, began preaching at 15, and five years later set up as a brass founder and plumber at Norwich. He supported himself and his family in this way and preached the gospel without pay on Sunday. For 63 years he preached regularly at the Norwich almshouse, and at other places, and during that time never took a cent except his traveling expenses, calling himself the poor man's minister. He was the father of G. W. Bentley, formerly superintendent of the New London Northern railroad. -The Central Pacific railroad company is hard up for funds on account of a falling off in traffic caused by recent disasters, and has postponed the monthly payment of the employes in order to meet more pressing necessities. -Heavy thunder storms raged in the West and Pennsylvania Tuesday and Tuesday night and numerous casualties from lightning are reported: At Curry, Pa., Henry Case had several head of blooded stock killed under a tree; at Sardis, Pa., Joseph Walf's barn was struck and his 13-years-old son and two horses were killed; at Salem, O., a girl was killed in the door-way of her home; at Greenford, O., a house was struck, and a girl killed; at Grant, Wis., George Brooks's house was struck and his oldest daughter was killed and another daughter partly paralyzed. The house was burned with its contents; at Murrayville, Pa., a boy and four horses were killed. At Now Comerstown, O., the storm was accompanied by a tornado which uprooted trees, blew fences down and did great damage to grain. A terrific hurricane visited Council Bluffs Tuesday, leveling to the ground an exhibition building which cost $11,000 and a circus tent. A thunder storm of unusual severity burst upon Woonsocket, R. I., Wednesday afternoon, washing the streets and inflicting damage the extent of $10,000. -An examination of the railroad track at the bridge near Hubbel, Kansas, where a train was wrecked and 30 persons hurt last week, shows that wreckers drew out the spikes, removed the fish plates and fastened barbed wire in the holes and pulled the rails apart when the train approached. -At midnight Tuesday night a mob of 50 men went to the jail at Vincennes, Ind., and battered down the door with a rail taken from the track. They took out Oliver Canfield, who murdered Miss Mollie G. Herkin, some time ago, and hanged him to a telegraph pole. The body was left hanging until daylight, when it was cut down by friends. -By a cloud burst in Montana on Tuesday three Chinese miners were drowned and several houses washed away. -A derrick, 65 feet in length, which was fixed on top of the new steeple which is being built on Grace church, New York, gave way on Tuesday. Two workmen were crushed by the wire and hemp cables connected with the poles. One of them extricated himself with little trouble, but the other remained for fifteen minutes in mortal agony, with the wires cutting into his flesh like knives, until they were cut away with cold chisels. Both men were conveyed to the New York hospital. Stones fell into the church and smashed several pews, and one or two crashed through into the vault. # Foreign. -Mr. Moody closed his mission at London Monday night with a large reunion for converts and disciples at Temple hall, Mr. Moody made a long farewell address, in which he urged his hearers to become systematic and thorough students of the Bible. He closed with words of blessing, showing deep emotion, and moving his audience to tears. His converts are estimated to number 35,000. -A Methodist church at Anglesea, Eng., was crowded Monday during a revival service. Suddenly the gallery began to break and at once a panic occurred. Scores of persons jumped from the high windows to the ground and rushed for the doors. Many were trampled under foot and severely injured. -The powder mills at Pontremole, Italy, exploded Monday. Thirty persons were killed and 17 wounded. -Cholera has made its appearance at Toulon, France. Twenty deaths occurred Sunday, the city is in a state of panic, and the inhabitants are fleeing by thousands. The news has caused a profound sensation at Paris. The minister of commerce pronounces the cholera sporadic and not Asiatic. A cholera panic also prevails at Marseilles. Later. Fires are burning in the streets of Toulon for purifying purposes. Symptoms of Asiatic cholera have appearod. Business is suspended at Marseilles,