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FLURRY IN STOCKS. ANOTHER FAILURE IN WALL STREET. suspension of Matthew Morgan's Showing Sons, Merchant Bankers--Figure $1,a Depreciation in Stocks of 500,000,000 in Three Years. FAILURE OF M. MORGAN'S SONS. NEW YORK, June 24.-Matthew Mor- The Sons, bankers, have suspended. stock announcement gan's caused depression in the became market, but It soon recovered, and are steadier. The firm is an old one. They members of the Stock Exchange, but are not known as merchants' bankers, drew e the list change and dealt in securities not on shrink The suspension is attributed to the of values in railroad bonds, principally were age Denver & Rio Grande, of which they Edward holders at high prices. few large Morgan is expected from Europe in due on days. Their liabilities are mainly liabilities on but they have no of the exchange, the Stock Exchange. real-estate The owners, members the New firm are Hotel large being one of their holdings, real and York believed that inability to realize on estate it is is the immediate cause of the suspension. house of M. Morgan's Sons has been The business in this city thirty-five years. New In members came originally from The and have always been correspond- were ents Orleans, of several London houses. They rated WALLSTREET, at $1,000,000. June 21-1 p. -Stocks highest buoyant and prices up to the It is reare the day for some shares. point of that a prominent railway capitalist Europe. ported effected a loan for 6,000,000 in Island Western has Union sold up to 521/2, Rock to St. Paul to 61%, Northwestern Pacific 851/1, to 1081/6, Lake Shore to 73, and Union to 35% m. Another attack was made on 1:15 p. market. Prices declined the share Western] Union was again the objective 521/6 11/4. and was forced down from latter point, 51, but all efforts to get it below the o'clock unavailing. About one the figure there was were a recovery of 1/1 to % and market was YORK, firm June again. 24. Correspondence H. NEW Cyrus W. Field and William in between Vanderbilt, under date, is published, that Mr. Vanderbilt denies the rumor return which become a "bear" since his each he has and offers $1,000 for from Europe, of any kind that he is connected with six share as a Director, that he has sold within weeks. NEW YORK, June 24 Since March best the depreciation in stocks according to about the as authorities on e street, has been Gould, Vanderbilt, $50,000,000 follows: Huntington stocks, $20,000, $70,000,000; 000;six(other activesecurity nearly $40,000. Central depreciation in Now York 000. The March 1 is about $18,000,0006 stocks since m Lake Shore, $15,000,000 Michigan $6,800,000 Northwestern, $19,000,000; & tral. $7,500.0 Louisville Lackawanna, 80,000,000; K nsas & Texas, Union Nashville, Pacific, 84,100,000; 82,400,000; Wabash, Central PaUnion, 200,000; Western $16,800,000; Chesapeake & Ohio, $1,200,000; elfic, Denver & Rio Grande, $4,900, Pacific, Erie, $9,200,000; Northern Read 000; Pacific Mail, 88,200,000; $1,400,000; Rock Island, $8,000,000. ing. The $10,700,000; decline: really began with Since the assas- then sination of Garfield in 1881. in the price of has been a decline there security. Taintor & Holt, the prices bank- of every their careful analysis of the deers, in estimate the total raifroad preciation stocks, in the value of all quotable March rallsecurities from July 1, 1881, to road 1884, at $1,185,590,181 The the deprecia- total tion since March 1 must make over Jay $1,500,000,000. Gould denies that of any $2,000,000 trust com- on that be is unable to him be true pany and that has called it couldn't a loan meet for the sim- He said reason that he had no loans out. ple Wash Connor, Gould's partner, publicly and of a 55,000 bill on the street who fered held up it for the name of the person started the Gould Vanderbilts rumor. are heavy losers been The decline, younger but William H. has not In the in it. The whole secret 0 yesterInterested was a determined effort join to day's sensation the market and send Gould to of break in bankruptoy. The ramor Garrison Judge Hilton's failure is authoritatively of the denied. LONDON, June --The press comments Ameriextensively market The unanis can rallway opinion expressed is that n threaten mous of affairs exists. The Times embarthat state the rumors of Mr. gentleman Gould' Passmont for It gives to have been able disothers. profit by the storm Yet, I which It has should hapnatrous that to he was obliged to suspend would the Times pen is not certain but the result mar be more beneficial to the sorely operations. tried long held subject to his Van kets so June The Brown & Arsdale CHICAGO, Manufacturing Company, as Kingsstreet, made an signment bury Alderman John T. Noyes firm manufactured to cast-Iron wagon machinery the city. of the largest in and was one occupied the entire block Kingsbury The works between Michigan and half Illinois way streets, and extended east rly men street. Several hundred to Market employed. Mr. C.B. Brown. Habill- Prest dent were of the company estimates the the asat about $110,000, and ties at $200,000 The assignment some was sets precipitated by the refusal an of extencreditors to grant Eastern of time. Unsuccessful attempts were firm sion loan, and then the made to to negotiate make general assignment. The the decided real estate on which the works merchandise, stand, entire plant, book accounts, assignee. were turned over to the to etc., The value of these alone is supposed creditors' than equal to the be claims more In 1877 the company went through This and paid fifty per cent. bankruptcy supposed to have crippled them some, and is they have since done a large prosperous though business, amounting months to $800,000 the During the past two of trade. R company year. suffered from the dullness Ga. June 24. There was a Court Adjourned to Give Them Room. 509.
