16235. Metropolitan Bank (New York, NY)

Bank Information

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

Metadata

Model: gpt-5-mini
Short Digest: 6ff714bd

Response Measures

None

Description

The Metropolitan Bank of New York suspended on May 14, 1884 amid heavy withdrawals and attacks on President George I. Seney tied to speculative connections. The Clearing House examined the bank, advanced loan certificates (~$2,000,000) and the bank reopened (resumed business) the following day (May 15). No article describes a distinct misinformation-driven run on this specific bank; the sequence is a suspension followed by resumption after Clearing House assistance and reputation/asset assurances.

Events (4)

1. May 14, 1884 Other

Newspaper Excerpt: The clearing house committee have carefully examined the affairs of the Metropolitan Bank, and the assets fully justify them in recommending the loan committee to advance an amount to enable it to immediately resume business. The bank will be opened tomorrow morning for business as usual.
Source: newspapers

2. May 14, 1884 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Attack and publicity about President George I. Seney's alleged speculative interests (loss of confidence) and heavy withdrawals after failures of related brokers/firms; stock-house failures aggravated situation leading to suspension of payments.
Newspaper Excerpt: At a few minutes past eleven it was announced that the Metropolitan bank, one of the oldest institutions in the city, George I. Seney, president, had failed.
Source: newspapers

3. May 15, 1884 Other

Newspaper Excerpt: The Loan Committee ... issued about $2,000,000 loan certificates to it. ...From the best information we can obtain, we believe the Metropolitan Bank is solvent. The bank has opened its doors for business.
Source: newspapers

4. May 15, 1884 Reopening

Newspaper Excerpt: The doors were reopened...An examination of the bank having been made resume business at 12 m. to-day. ...The doors were opened, and a number of depositors hurried early to the bank to draw their money. Everything passed off quietly and in an orderly manner. Officers had provided against a run. $664,000 had been deposited; $383,000 certified checks, and $70,000 paid out over the counter.
Source: newspapers

Newspaper Articles (23)

1. May 15, 1884 Daily Kennebec Journal Augusta, ME

Article from Daily Kennebec Journal, May 15, 1884

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other than the the city funds, think Most of that the the bankers worst Marine has and been bank, heavy were capitalists sound. are attributed to the the craze for of the result was a street, sion, troubles values, Hatch and and gambling foregoing shrinkage passed. in conclu- Wall The the & Foote have been heavy losers antic New Hariem, Middletown & William- by Tunnel Railroad: also on the Boston. Hoosae had & Western Railroad. They great faith in Gould stocks, a d are have of supposed to have suffered through the failure also Viflard. Rupture Between Jay Gould and Russell Sage. The Commercial Advertiser says: "It on excellent authority that a is place yesterday reported rupture Gould and took between serious Jay this Russell Sage. In consequence of large block the Western Union thrown on the market aud 80 broke price was from 60 to 54. A bad feeling continues and great trophe financiers is believed between today's catas. these to have been largely induced by the circurastance." From Other Places. BRIDGEPORT, Conn. May 14. The banking house of T. L. to suspend was clock compelled this payment Watson at three Co. afternoon owing, as was to of the Connecticut whom they to bank, their the with inability p deposits, National honor said, drafts, on account of the condition of affairs in New York BOSTON, May 14. announcement of the failures New The today in York naturally caused a little flury here and during the forenoon some wild rumors affecting several operators on the bull side of the market were upeasiness. As no feeling was failures considerable better current prevailed there and and there there were was a return of confidence. Prominent bankers who were interviewed state that Boston banks are in sound condition and if trouble comes they will stand by each other. One prominent financier said if there were no more failures in New York there would be no trouble here, but if the failures continue the result cannot be foreseen. There was no reason, he said, to anticipate a collapse in Boston. but a panic once inaugurated is like the tumbling of a pile of bricks. There was little appearance of excitement on the streets today. WASHINGTON, May 14. Hundreds of telegrams have been received from New York by the members of Congress today urging legislative action to relieve the financial strain. Just before the adjournment of the House consent was asked by Mr. Springer to pass Mr. Ding ley's bill authorizing the secretary of the treasury to invest in bonds the lawful money deposited by banks for the retirement of the circulation. The effects of the enactment of the bill will be to put in circulation about $30,000,000. Messrs Holman, and Wells objected, and the House adjourned. A meeting of the committee on banking and currency has been called for Monday forenoon, to discuss the best method to secure passage at the earliest date of the Dingley and McPherson bills. Regarding the condition of institutions here, there is no expectation that any of them will be affected by the New York faileres. Comptroller Cannon has read a dispatch from a private source in New York which he considers reliable stating that the people there think the worst is now over. ALBANY, May 14. The New York failures occasioned uneasiness today. The National Albany Exchange Bank is involved by the suspension of the Metropolitan, $135,000. Its surplus is $483,000, All drafts drawn by it on the Metropolitan will be paid on presentation by the Importers' and Traders' National Bank of New York city. The National Exchange is the only Albany bank involved by the New York failures. A Secret Meeting was held at Jay Gould's house tonight and was attended by Russell Sage, Frank Work, Sidney Dillon and C. J. Osborne, to discuss, was said, and to devise means for averting further panic tomorrow. and sustaining the market at any cost. The result of the deliberations could not be obtained. Amos R. Eno has stated in public that he will back the Second National Bank, the full amount of the deposit account of which is $4,180,000, and today deposited $2,000,000 in cash to meet the present emergency. Shortly after midnight the following was given out for publication The clearing house committee have carefully examined the affairs of the Metropolitan Bank, and the assets fully justify them in recommending the loan committee to advance an amount to enable it to immdiately resume business. The bank will he opened tomorrow morning for business as usual. Secretary Folger was seen this and was asked his opinion in regard to in Wall street. to afternoon the panic He refused want talk at length but said it showed a of

2. May 15, 1884 Savannah Morning News Savannah, GA

Article from Savannah Morning News, May 15, 1884

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which endeavored in vain to get some information regard the situation. susGeorge Seney is resident the Heis also Metropolitan Bank. pended Robinson & partner in the firm of Mason, Mr Seney sons are also partners in that firm representat of the Associal ted Press inent Director interviewed the has Metropolitan Bank who said em phatically that the depos itors of the bank will be paid in full He savs that the Di all the and that after throw all that out may be classed any more than to pay sufficient the He savs further that due fact the solely throu ha become scared through attacks on the President of bank. Sene George had inaugurated a general withdrawal of their deposits. CLEARING HOUSE RULES. follow NEW YORK May 14,5 The the from house clearing Presidents of each of the banks association HOUSE 18. 1884 May Chairman The proposed amendn ent to section 15 inability of to eight is as folHouse also exchanges THE IN BROOK YN NEW YORK, The doors Bank Brook number gain admitta effecting their object to open SAGE'S TILT. The that this block the 60 from have has been nature TIONS of the fail M Seney and Mr and the The stock of Mr Senev large sums MI Seney ement the after of the Mr Nelson under the from Id be not met diately the by times and the rumors. furnish any Most their tected heads and want in money their day THE SEE. VIR AND GINIA GEORGIA NEW YORK. The May M.14. first East and ginia stoci was 53/ Georgia The In The lowes sold. shares at the talk to-night egarding the effect on the road of Sene failure ITEMENT NEW M. YORK. 14, The sides On the the floor and confusion. though little for the sales show made firms The busine most the and banks careft llv ser tinizing all accounts the has and rning visited been all the almost prominent He Wall his the power the ment to and utmost limit to the of promptly his authority W dressed ladies some from other came than The have with pread light Private ning rapidity from the from uptow dis tricts soon flying through the streets the many and outside stood doors the banks and bank houses The directors of nearly all the in either present for any emergen The doors of the Stock Exchange the and by guarded one cleared. afterward admitted to the building. clerks and This done the because had too gain grown admittance for the the building of capacity Lar numbers of gathered at Second this National Bank building The morning. the ban decertain amount the ficit. but just what the exact pro that be each contributed 18 could not learned. THE BOGART CRASH. M The NEW YORK May 14 30 firm o O.M. Bogart & Co. has long note imp ortant the Stock Exch Co. In the failure of Duncan, Shert they indorsers and lost much in the but collapse. that itimued the in

3. May 15, 1884 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN

Article from Memphis Daily Appeal, May 15, 1884

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PITTBURG. The on Trade Completely Demoralized by the Failures. PITTSBURG, PA., May 14.-Rumors of heavy failures in New York and the report that the Stock Exchange had closed its doors completely demoralized the oil trade here, and intense excitement prevailed at the Petroleum Exchange. The market opened feverish at 91c and advanced tc, when there was a general stampede, caused by the reported Wall street disasters. Immense blocks of certificates were dumped on the market and for a few minutes prices dropped to 87c. Heavy buying by shorts had the effect of partially restoring confidence at this juncture, and prices rallied slightly, but telégrams announcing the failure of the Metropolitan Bank quickly destroyed the good effects of the short purchases. The trade became panic stricken and the market declined rapidly to 811c, closing at noon at 81 1c, with the feeling weak and unsettled. When the Exchange opened this afternoon the excitement of the morning had in a great measure subsided. The situation seemed reassuring, but the under tone is weak and panicky. The market opened at 814c, and under good buying the price rallied to 85c, then broke to 811c, and closed at 821c. No failures occurred to-day, and this evening a more confident feeling prevailed. The effect of to-day's heavy break, however, will not be fully known before to-morrow.

4. May 15, 1884 Wheeling Register Wheeling, WV

Article from Wheeling Register, May 15, 1884

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THE BURSTING BUBBLE MISTAKEN FOR THE ROAR OF CANNON. It has come The financial panic foreshadowed in yesterday's REGISTER struck New York like a small sized eyelone. But fortunately for the country the scare was the most serious injury inflicted. While at one time on yesterday forenoon it seemed that a crash would inevitably follow in the wake of the Metropolitan Bank failare still the good sense, the cool levelheadedness and plucky display of nerve and presence of mind of the New York bank presidents averted what might have been a serio S calamity. The shaky condition of the stock exchange in New York for several days past had created a nervous apprehension throughSout the country that a crisis was approaching, and this same apprehensive condition of the public mind was the stimulating cause of the fearful panie which raged in the streets of the metropolis on yesterday. To the calm, thinking conservative mind there are no apparent reasons why a crash should come Money is abundant in the country, trade is in a healthy condition, every branch of legitimate industry to all appearances is on a sound foundation The wreck of a few wildeat speculators cannot possibly overthrow business and produce a general derangement in industry At the same time it must be admitted that such scenes as were witnessed yesterday in New York do not benefit commercial business" They have a tendency, if not to ininterrupt, certainly to throw a chill over trade and to dampen enterprise. In that respect the panic is a detriment and to be deplored. We have no doubt that Secretary FOLGER thought he was doing the proper thing in making the call for bonds. According to our view it was a mistake. The effect was only to magnify the importance of the gambling collapse in Wall street. Instead of giving confidence it created distrust where there is no ground for it. Under the circumstances it might not be proper to give suggestion to the thought up permest in the minds of some people-that the Secretary's action in this matter was a movement whereby to seize an unfortunate occurrence in our financial history to help along a Presidential boom for his chief. If by magnifying a collapse of a gang of swindling speculators into a great financia serisis, and then his efforts be made to appear as the sole cause of averting the danager, it would give the administration a tremendous hoist in business circles, / and Mr. ARTHUR could ride to the front as the Saviour of his country It would be a mighty big card in the Chicago Convention. But until the smoke has cleared away we refrain from expressing an opinion.

5. May 15, 1884 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, May 15, 1884

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TROUBLED TIMES A Smash Among the Wall Street Gamblers. The Metropolitan Suspends Owing to Too Much Seney in Stocks. Number of Brokers Succumb to the Maelstrom of Scant Margins. A Panic That Hurts No One but the Gamblers and their Prey. A General Tumble in all Kinds of Stocks, the Good Bad and the Bad Worse. How the News Struck the Country-What St. Paul Bankers Say. No Alarm Felt Relative to any General Financial Crash in the Country. The New York Banks Will Stand Together and Prevsnt Any More Failures. THE DAY IN WALL STREET. NEW YORK, May 14., Noon.-Sine the famous "Black Friday," and the failure of Jay Cooke, in 1873, Wall street has seen no such shaking up as is now in process. There was a general feeling of nervousness in financial circles when business closed yesterday, and a night's rest did not seem to have allayed the feeling. Men came down with an evident feeling that some disaster was pending, and when the stock exchange opened there was a wild rush of the brokers to sell. It was evident that the brokers prepared to unload the holdings of their customers without waiting for matters to get any worse. and as the result they made matters worse and many margins were wiped out in a short time which might have been sufficient to carry the stocks they represented in safety had It not been for the wild rush. At a few minutes past eleyen it was announced that the Metropolitan bank, one of the oldest institutions in the city, George I. Seney, president, had failed. This was followed by the announcement that O.M. Bogart Co., stock brokers, had assigned to John Wheeler. In a few minutes more it was announced that the Phoenix bank refused to certify the checks of Hatch & Foote, stock brokers. The only daylight up to this hour-noonis the following from the National Bank examiner which was read on the stock exchange and clearing house: "After investigation of the Second National bank I find it absolutely sound." A meeting of the Clearing House associa tion has been called for 1:30 p. m. THE STREET SCENE. 2 p. m.-When the report of the failure of the Metropolitan bank was circulated, it created considerable excitement. At half past twelve Wall street was a mass of people from Trinity church to the custom house. Both sidewalks and carriage ways are impassable. At the door the suspended houses the masses of humanity are denser and many disconsolate faces gaze at the closed doors. Among the crowd are seen several well dressed ladies, some present from interested motives, and others from curiosity. The news of the disasters seemed to have spread with lightning rapidity. Private carriages and liveried servants from up town are flying the streets. Many now stand outside the doors of banks and banking houses. The directors of nearly all the banks are either in session or present in the buildings ready for an emergency. The doors of the stock exchange are guarded by policemen and visitors in the galleries are being cleared out and no one is admitted to the building except clerks and messengers because the crowd endeavoring to gain admittance is too great for the capacity of the building. Secretary Folger has been at the sub treasury all morning. He was visited by almost all the prominent financiers in Wall street. He expresses the determination to use all the power of the government, to prevent a panic, and will act promptly to the utmost of his authority. As a step in this direction he telegraphed to Washington ordering the immediate payment one seventh necessary, he $10, says, of he call the will for order bonds, hundred another and, and if call for twenty000,000. He has been invited to attend the meeting of the clearing house now in session.

6. May 15, 1884 St. Paul Daily Globe Saint Paul, MN

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NEW YORK. [Special Telegram to the Globe.] NEW YORK, May 14.-The day opened with a panic in Wall street, caused by the failures of stock houses and a prominent bauk. There was a perfect stampede in all securities, nothing escaped and the shrinkage was so great that the bears felt about as uncomfortable as those who were long. At noon Rock Island was quoted at $1.10; Chicago, Burlington & Quincy, $1.12; Omaha preferred was off from 90 to 81c throughout. But few stocks were purchased except those required to cover short lines and few houses cared to buy except for cash, The fluctuations were so violent that margins amounted to nothing. The market quieted down later in the day and prices improved on reperts that the banks generally were inclined to render aid to their friends who were in trouble. Failures, however, continued to be announced during the last hour and created great uneasiness and a decline in prices. There was no improvement at the finish and the day closed with a feeling that we may see still more trouble to-morrow. Money became exceedingly stringent, and two per cent. for the day was paid in many cases. Henry Clews & Co. say: To-day was boisterously stormy in Wall street, and will be memorable as the black Wednesday, made so by the suspension of the Metropolitan bank, together with several very respectable brokers' firms who were compelled to succumb to the blast. Now these disasters have occurred, and being what many of the prominent bears work for consequently relief should be felt in the gale having come and gone. Prices in being reduced to present lower figures certainly offer an admirable opportunity for safe and profitable investment, and through that source Wall street will soon experience essential relief. The action of the bank meeting this afternoon in agreeing to a stand by each other through thick and thin, is thing which they have previously successfully done in similar occasions, and should in this instance as in the past prove a sufficient guarantee that no other such trouble as that of the Metropolitan is likely to occur, this commendable action should pave the way for the restoration of confidence and better times, at least for some time ahead." A.M. Day says: "The day has been the most exciting since that which precipitated the panic of 1873. Six houses, three of them large, and the Metropolitan bank, have failed. Prices have declined 1 to 10 points and over. At the close money was two per cent. premium per day, not because it absolutely scarce, but owing to the best uncertainty of the result. The feature in the situation is the action of the associated banks in agreeing to stand by 1 each other upon the general plan that they adopted in 1873. Upon this announcement the market e rallied, but closed demoralized. Some houses y quoted money closed at one per cent. per day. 1 We ourselves feel that it will take a long time for the country to recover from the effects of to 1 day's events, and that prices in some stocks will t be very much lower before the situation is cort rected. Jersey loaned at one-half for use. The failure of Donnell, Lawson & Simpson may be far reaching in its effect, as they were the correspondents of a number of small country banks." |Western Associated Press. d 5 NEW YORK, May 14.-Complications arising y from the alleged stock speculations of the n officials of one of the National banks caused a S panic in the stock market to-day. Yesterday it $, was developed that Dyett & Co's checks had e been refused certification by the Continental e bank. The firm it was said, was affected by the D inability of the bank official in question to live up to his contract at the Continental bank. It s was stated before the opening of business to-day d that Dyett & Co's contracts would be taken care of by Wm. Heath & Co. This was subsequently corroborated by official notification to the stock exchange that Wm. Heath & Co. would settle d with the members of the exchange for all stocks bought, sold, borrowed or loaned pret vious to this date. After the opening of the e board the suspension of Nelson, Robinson & Co., Goff & Randall, M. Bogart & Co., J. C. Williams e and Hatch & Foote were read from the rostrum of the exchange, and under sharp pressure to sell,prices broke to 12per cent. the decline being e accelerated by liquidations and by sales of thoud sands of shares under the rule for the account of 0 suspended firms. The decline was subsequently checked by the action of Secretary Folger in orp dering the prepayment of the one hundred and twenty-seventh call for $10,000,000. The secretary also expressed himself willing to do everyg thing in his power to prevent stringency in the

7. May 15, 1884 The Indianapolis Journal Indianapolis, IN

Article from The Indianapolis Journal, May 15, 1884

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TROUBLE IN THE OIL MARKET. Great Depression in Prices, and the Effects Not Yet Fully Known. PITTSBURG, May 14.-Rumors of heavy failures in New York and the report that:the Stock Exchange has closed doors completely demoralized the oil trade here, and intense excitement prevailed at the Petroleum Exchange. The market opened feverish at 91c, and advanced 1-4c, when there was a general stampede, caused by the reported Wall street disaster: immense blocks of certificates were dumped on the market, and for a few minutes prices dropped to 87. Heavy buying by the "shorts" had the effect of partially restoring confidence at this juncture, and prices ralied slightly, but the telegrams announcing the failure of the Metropolitan Bank quickly destroyed the good effects of the "short" purchases. Trade became panic stricken and the nurket declined rapidly to 81 1-4c. closing at noon at 81/1-2c, with the feeling weak and unsettled. So far, no failures are reported here. When the Exchange opened in the afternoon the excitement of the morning had. in a great measure. subsided. The situation seemed reassuring, but the undertone was weak and panicky. The market opened at 81 3-4c. and, under good buying, prices rallied to 85e, then broke to 81 3-4c, but recovered again slightly and closed at 82 7-8c. No failures occurred to-day, and this evening a more confident feeling prevails. The effects of to-day's heavy break, however, will not be fully known before to-morrow.

8. May 15, 1884 New-York Tribune New York, NY

Article from New-York Tribune, May 15, 1884

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CHICAGO MARKETS BEAR THE STRAIN. INTENSE EXCITEMENT-NO PANIC-WHEAT ONLY 2 CENTS LOWER AND CORN LESS. [BY TELEGRAPH TO THE TRIBUNE.1 CHICAGO, May 14.-It was a marvel that this market stood yesterday as It did. There was no panicnot even any great excitement. Nothing, however, could stand the enormous pressure of the frightened operators in the wheat pit this morning. If all the grain in the elevators had moved out over night and if the visible supply figures had decreased by long rows of ciphers, prices could not have been susta ined. Alexander Mitchell could not have kept prices up if he had been on the floor himself and had in his pay half the brokers on the Exchange. The news from New-York was too bad. Before the board opened the news of failures began to come along. First, there was the announcement of the suspension of J.C. Williams, then of O. M. Bogart, then of Goffe & Randle, then of Nelson Robinson & Co., then, to top it all and to add to the financial catastrophe, came the news that the well-known firm of Hatch & Foote and the Metropolitan Bank had gone under. Wheat opened low but it went lower. June, beginning at 8718, went to 86 and closed at 865g cents, and July, opening at 8918, dropped with little pounding to 88, and closed at 885g cents. Lester had been a big buyer of wheat. He began opposing the Milwaukee clique a fortnight ago, and was taking in his profits. His purchases were of "short" grain. Corn was more stubborn than wheat, but suffered some. It would have gone up but for the New-York panie. As it was it stood firmly. July corn opened at 57%, touched 5812 and closed at 574 cents. Pork was 5 to 10 cents lower and lard was dull and unchanged. Early in the morning, when reports of trouble in Wall Street first began to come in, there was a rush to sell both wheat and corn and offerings were so heavy as to break the market. It is believed, however, that the smaller "longs" were about the only ones who sold. It may safely be asserted that big holders doubled their deals. The upward course of the market when rumors were the thickest proves this. It was about the only thing that they could do. William Young & Co. and Norman Ream were supporters of the market, the former buying largely through brokers and the latter more openly. This did a great deal to restore confidence. Lindblom wished to bet heavily that the Metropolitan Bank of New-York had not failed, hen the bells struck announcing the close of Change to-day the general feeling among those traders who had taken an active part in the exciting scenes of the session was one of satisfaction, taking into consideration that New-York was in the midst of the most serious panie that it has known for some years, while Chicago was secure from commercial and financial disasters. Nearly every one felt that general congratuiations were in order. The markets are thought to have borne up wonderfully well under the extraordinary strain upon them. Wheat closed to-day with a decline less than two cents and corn was even more fortunate. It seemed as If the NewYork pante in stocks and the numerous fallures were almost looked upon as bull arguments, 80 large was the demand to cover short" contracts. The excitement and uproar on the floor of 'Change was 80 great as to make it impossible to tell who sold and who bought, except in a few instances. Among those who unloaded heavily of long" wheat was Kersbaw, but it can hardly be doubted that Investments were made sufficiently important to cover the sales of " long" stuff.

9. May 15, 1884 Weekly Chillicothe Crisis Chillicothe, MO

Article from Weekly Chillicothe Crisis, May 15, 1884

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WALL STREET COMPLETELY DEMORALIZED. Eight Big Failures Reported To-day. THE METROPOLITAN BANK AND DONNELL LAWSON AND HATCH & FOOT. Flight of Robinson, the Son-in-Law of George I. Seney. THE CLEARING HOUSE APPOINTS A COMMITTEE OF FIVE BANKERS TO STEM THE TIDE. Shrinkage of Nearly $62-000,000 in Stocks in Thirty Hours. The Seney Syndicate Involved Secretary Folger Comes to the Relief of the Banks Wall Street & Mass of Excited Humanity - A Dark Financial Day. Such are the headlines of the last evening's Post-Disputch Among the firms that suspended yesterday was that of Donnell. Lawsen & Simpson.

10. May 15, 1884 Savannah Morning News Savannah, GA

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MARKETS BY TELEGRAPH. FINANCIAL. NEW YORK. May 14, noon.-Stocks panicky. Money strong at 4 per cent. Exchange unchanged. State bonds dull. Government bonds lower. 5:00 p. m.-Exchange, $487. Money, 3 per cent. Sub-Treasury balances-Gold, $126,128,000: currency, $9,136,000. Government bonds lower; four per cents, 122%; three per cents. 1003/4. State bonds quiet. On the announcement of a number of failures this morning prices for stocks broke 1½ per cent. A reaction of 1/4 per cent. took place when Secretary Folger came to the rescue. On the announcement of the Metropolitan Bank failure there was a decline in Missouri Pacific of 10½, Central Pacific 63/4, Quincy 414, Northwest 8½ ditto preferred 8, St. Paul 8½ Rock Island 6½, Lackawanna 43/4, Delaware and Hudson 51/29 Louisville and Nashville 8½ New Jersey Central 4, New York Central 41/4, Northern Pacific preferred 71/8, Oregon Transeontinental 4½ Pacific Mail 7½ Omaha preferred 91/4, Union Pacific 67/8, and Western Union 6 per cent. These phenomenally low figures attracted purchasers, and there were fitful rallies until nearly 2 p. m., when the market developed comparative strength on the belief that the banks would combine for mutual protection. This later was found to be the case. Canadian Pacific advanced 2, Central Pacific 4, Quincy 4, Northwest 5, St. Louis 4, Rock Island 41/2, Lackawanna 2. Louisville and Nashville 2, Lake Shore 11/4, Missouri Pacific 3½ New York Central 3, Northern Pacific preferred 3, Oregon Transcontinental 21/4, Pacific Mail 21/22 Omaha preferred 5½ Texas Pacific 13/4, and Western Union 4½ per cent. Near the close money became active, and accommodations being refused in many cases, the rate was suddenly advanced to an extraordinary figure-3 per cent. per diem, The failure of Hotchkiss & Burnham was also announced. This unsettled affairs, and some stocks ran off 1/2@3½ per cent., and closed irregular, with some stocks quite firm, Compared with last night's closing, prices are 11 per cent. lower for Michigan Central, for Missouri Pacific, 8 for Northwest preferred, 67/8 for St. Paul, 6½ for Pacific Mail, 6½ for Omaha preferred, 6½ for St. Paul preferred, 53/g for Louisville and Nashville, 53/8 for Northwest, 53/8 for Northern Pacific preferred, 47/8 for Union

11. May 15, 1884 The Dallas Daily Herald Dallas, TX

Article from The Dallas Daily Herald, May 15, 1884

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What the Bankers at Home Have to Say of the Failures. There was considerable excitement in business circles yesterday, caused by the reported heavy failures in New York. The boards of the merchant's exchange were eagearly watched throughout the day, and interest ran high as the quotations of stocks were given. The failures were the subject of general conversation on the streets, in the counting room and commercial circles. Among the failures reported were Donnell, Lamson & Simpaon, Metripolitan bank, National bank and the Phoesix. The failure of the last named bank was subsequently reported to be erroneous. The firm of Hatch & Foots and others made up the list of fearful liabilities which caused the business men away down here in Texas to adjust their glasses with precision and gaze in & very dignified way at the tell-tale black board in the Merchants' exchange. Speculations as to the cause and effect were freely indulged in. It was attributed to the failure of Grant & Ward and the Marine bank, and numerous other causes were surmised. A HERALD reporter visited the different banks to ascertain what effect they thought the panic, if such it can be called, would have upon money matters here. The reporter called on Mr. E. J. Gannon, cashier of the American National bank and found him in consultation with Mr. Royal Д. Ferris. cashier of the Exchange bank, and to kill two birds with one stone, they were of one opinion, and stated in substance that no local effect would be felt here, at least no immediate effect would follow, if in fact any at all. No bank in the city had a correspondent with any of the banks reported to have failed, and the banks here felt quite secure. Donnell, Lawson & Simpson did an extensive business with banks of smaller towns in Texas and also in Arkansas and Missouri. The worst result that could follow would be only to make Texas money matters just a shade lighter. Mr. J. C. O'Connor, president of the City National bank said that he did not 800 that it would have any immediate effect here at all. In his opinion only those banks that had been dealing in stocks would be affected The general condition of the country does not justify anything like a panic that would"be felt here, and he was of the opinion that the matter would be satisfactority arranged by the clearing house. He said that not single bank here had a correspondent with any that were reported to have failed. It would necessarily make money matters lighter for awhile, not only account any distrust here, but owing to the general distrust that will pervade the country more or less, and the desire to await fully the outcome. As to cattlemen, he said that while it was true their paper in bank generally due in the months of May and June, yet there was no occasion for their being anyways embarrassed, as their beef was now ready for market. The stockmen, in giving their paper, generally ar. ranged it DO that it would fail due a month or so after their stock were ready for market, and by this means they made it safe for themselves and the banks as well. So far as Dallas was concerned, there was no oc. carion for any loss of confidence. Colonel Griggs, of the banking firm of Oliver & Grigge, said that while it might tend to money matters a little light for a time atill he did not anticipate any material ffeet on money mattters here. Those Irms reported as having failed have no com with banks here. He could DOB that the failures, unless greator than reported, would affect Dallas. Tue banks here. he said, have but very little money in New Yorkjust now. in his opin

12. May 15, 1884 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, May 15, 1884

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GENERAL NEWS. The Oil Market. Pittsburgh, 14.-Rumors of heavy failures in New York and a report that the stock exchange had closed its doors, completely demoralized the oil trade here, and intense excitement prevailed at petroleum exchanges. The market opened feverish at 91 and advanced one quarter when there was a general stampede, caused by a reported Wall street disaster, Immense blocks of certificates were dumped on the market and for a few minutes prices dropped to 87. Heavy buying by shorts had the effect of partially restoring confidence at this Juncture and prices railied slightly, but telegrams announcing the failureofthe Metropolitan Bank quickly destroyed the effects of short purchases. Free trade became panic stricken, and the market declin ad rapidly to 811, closing at noon at 811/2 with the feeling weak and unsettled. So far no. failures are re ported.

13. May 16, 1884 The Dallas Daily Herald Dallas, TX

Article from The Dallas Daily Herald, May 16, 1884

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There much better teeling in the stock exchange circles early in the day, due to the action of the clearing houses and to the resumption of the Metropolitan bank Prices opened 1 to per cent. higher, the latter for Michigan Central, which sold up to 71. Shortly after opening a slightly weaker teeling prevailed, owing to the announcement of the failure of A W. Dimick & Co. Tats was succeeded by strong buying for foreign and home account and there was seneral improvement. Canadian Pacific rose 3 to 47, Central Pacific 4 1-2 to 42 1.4, Chicago, Burlington & Qniney 112 to 116, Northwest 2 to 105 1-2, preferred 51-2 to 130 1-2 Lackawanna 3 to 113. Lake Shore 238 to 21-2. Missouri Pacific 5 1-4 to 73. Kan. 888 & Texas 138 to 14 3-8, New York Cen234 to 110 1-4 Northern Pacific preferred 51-4 49 Oregon & Trans-Continental 21-8 to 14 18, Pacific Msil 3 to 39, Omaha preferred 6 to 90, Texas & Pacific 1 28 to 12, Union Pacific 3 to 41. Western Union 334 to 54 1-4. At the clearing house, new certificates were ready for delivery at an early hour. and the banks availed themselves to the extent of $47 000,000 The resumption of the Metropolitan bank also had a favorable effect, as it set at rest the rumors that the suspension WAB of the Marine bank character. Buying for the European account was the special feature of the market. and every house with foreign connections had liberal orders to purchase. At times during the when market the day. sagged these purchases turned the course.or speculation. The extent of this foreign buying movement was plainly shown by foreign exchanges. There was a largenen ply of bills than for a long time and the pressure to sell caused a sharp desline in rates. The high rates O aoney << this centre attracted foreign or al and ording Eoglish and German Institutions Delegraphed their agents here to draw for anyamount in consequence of the pressure to sell. Buying stocks for home account wes also very large. brokers' offices being crowd. ed with investors. This is usually the case a ter a disturbance like the past few days. Stocks so bought, it should be understood, are paid for in full and taken out of the streets. This operation, aside from reducing the amount of stocks to be carried on the street, brings in 80 much fresh capital to aid the money market. The investment by purchaser, therefore, natu. rally had an important influence in the direction of an improvement. Just before the close the suspension of Fisk & Hatch was announced and the market sold off 5 per cent. for Central Pacific and for Pacific Mail. and 1-2 to 2 for other shares. There were evidences of strong support in final dealings compared with last night. Closing prices are 5 per cent. higher for Michigan Central, 212 for Canada Southern, 3 for Northwestern preferr d, 258 for St. Paul, 15-8 for preferred, 134 for Rock Island, 2 for Delaware & Hudson, 15-8 for Lackawanna. 1 for Denver. 2 for Missouri Pacific, 21-8 for New York Central. 1 1-4 for Northern Pacific. 2 for preferred, 3 1-2 for Omaha preferred 134 for Union Pacific, 1 3-8 for Wabash, 1*1-8 for preferred and 2 1.8 for Western Union. L ke Shore is 1 1-8 lower, Louisville & Na hville 134 and Pacific Mail 2 lower. The Bankers & Merchants telegraph broke 73 14 por cont. to 15 34. This was due to the failure of A W. Dimick & Co. Dimick is president of the telegraph company. Transactions, 474 000 shares.

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

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TRANQUILITY, Was, by Comparison, the Presiding Genius of Wall. Street Yesterday. The Resumption of the Metropolitan Bank Restores. Confidence, Failure of Fisk & Hatch Mars the Harmony of the Occasion. Clearing up Matters From the Wreck of the Panic. Cheering Reports From the Country at Large Mixed With a Few Failures. A Globe Reporter Interviews H. L. Horton on the Situation.

15. May 16, 1884 New-York Tribune New York, NY

Article from New-York Tribune, May 16, 1884

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sume business yesterday was known at of Wednesday. The directors had assur selves of the solvency of the bank before pension and some of them consented to great unwillingness. Among those who as the examination of the securities and the tion of the bank's condition was Jaques, a stockholder and former \ dent, who enjoys in a marked de confidence of banking officers in this ci plan of resumption provided for the I funds a the disposition of the bank thre medium of Clearing House certificates, an the placing of Mr. Jaques at the head of t in place of Mr. Seney. The plan was carr a meeting in the directors' room at 9a. n day. This meeting was attended by the including Mr. Soney, Mr. Jaques ager Camp, of the Clearing Association, the Clearing House Commi Bank Examiner Scriba. The results of t ination on the previous night were mad and action was taken looking to the resu business at noon. Within half an hour 1 paper statements that the bank would go confirmed by the posting of the following the bank door: An examination of the bank having been m resume business at 12 m. to-day. AUGUSTUS M. National Bank E The doors were closed. and a police guard before them,but this notice served 1 the place from becoming a centre of excit Mr. Seney now offered his resignation as of the bank it was accepted by the dire Henry L. Jaques was elected in his st Jaques was disposedto avoid the responsil labor which the post involved, out o eration for his health, but w ly persuaded of the necessity man of his known conservatism should helm and consented, stipulating however Seney should remain a member of the Bo: rectors in order that his knowledge and e might be drawn on. THE DOORS REOPENED. A few minutes before noon the doors we open, and a number of depositors hurried ea the bank to draw their money. Everythi off quietly and in an orderly manner. 1 officers had provided against a run. bi periences of the first hour showed that no need of being apprehensive. From there was a steady demand at the payi window, but the depositors who were w their money never reached half a hun 2:15 the only persons in front of the b were a few who were making deposits $177,000 had been deposited. $383,000 e checks. and $70,000 paid out over the cou CONDITION OF THE BANK. Regarding the condition of the bank not was divulged yesterday. Neither the n dent nor any of the directors would t nature of the securities found by the Inv Committee. From high authority it was however, that the bank holds a large a securities which are not marketable at The loss on them, it is thought, will not Mr. Seney conveyed to the bank his house and other real estate and his co pictures, to secure it against any possibi his account. The property is estimate Seney to be worth $1,000,000. It is not by those intimately acquainted bank's affairs that its losses will appr sum. It IS understood, however, that will make still further personal pledges € the end they should have to be return The character of this new security has no vealed. In accordance with the action of the / Banks and the report of the special com pointed to investigate the affairs of the clearances were made without difficulty amount of acceptable securities was ta Clearing House, and loan certificates wer fast as they could be signed. The ban about $2,000,000. by the aid of which it exchanges. The deposits during the day the payments and certifications by a sma They amounted to $664,000, while ch certified to the extent of$454,000, and was paid out over the counter. CAREER OF THE BANK'S NEW PRESH Henry L. Jaques, the new president of t politan Bank, is a man of spare figure, a about sixty yearsof age, with featuresof ful and rather nervous cast. His face i shaven except his upper lip, on which bristling mustache of the same silvery w the wide fringe around his head. His m precise; his conversation is pleasant in confined strictly to the matter in hand. from his appearance that his health IS n His whole business career has been conne banking interests, and name has been with the Metropolitan Bank either a or stockholder ever since its org The Metropolitan was formed for the pur troducing in this State the system of con redemption which had been establishe England. Under this system all the New banks were compelled to redeem their no Suffolk Bank in Boston. In this bank y was raised, his father being its president still a young man when the nianagement demption branch of the bank's business y in his hands. After the excellence of the been amply demonstrated under the admi of Mr. Jaques, the Metropolitan Bank was

16. May 16, 1884 New-York Tribune New York, NY

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WORK OF THE CLEARING HOUSE. The settlements of balances at the Clearing House between the associated banks were accomplished yesterday without trouble. In the morning the committee which had examined the condition of the assets of the Metropolitan Bank formally submitted to the Clearing House Committee the report which appeared in yesterday's TRIBUNE. It was accepted and the standing of the bank in the association assured by the issue of about $2,000,000 loan certificates to it. The Second National Bank applied for $600,000 of certificates, and the total amount issued to five banks was $4,000,000. The Loan Committee of the Associated Banks was in session all day at the rooms of the Clearing House, examining the securities deposited by the banks that considered it advisable to obtain certificates against a possible emergency. F. D. Tappen, president of the Gallatin National Bank and chairman of the Loan Committee, sent the following telegram early in the afternoon to the Controller of the Currency, H. W. Cannon, at Washington From the best information we can obtain, we believe the Metropolitau Bank is solvent. The bank has opened its doors for business. The excitement has subsided. William A. Camp, manager of the Clearing House, spoke encouragingly of the situation. With regard to the the failure of Fisk & Hatch helsaid I know none of the particulars of the affair, but. I am certain that It can in no way affect the banks. This is the time for the banks to pursue a liberal policy and not to hestate to lend money on good collaterals. The Loan Committee will meet to-day for the purpose of scrutinizing the securities on which further issues of loan certificates may be desired. The special committee appointed to consider the amending of the rules of the Clearing House, so as to cover any case similar to that of the First National Bank, which holds $215,000 in checks of Grant & Ward on the Marine National Bank, that were considered good in the Clearing House settlement, made the day the Marine Bank suspended, has submitted its report. The following amendments to the constitution of the Clearing House are proposed by the committee: In case of the refusal or inability of any bank to promptly refund to the bank presenting such checks, drafts or other items returned as not good, the bank hold. ing such checks. drafts or other items may report to the manager the amount of the same, and it shall be his (the manager's) duty, with the approval of the Clearing House Committee, to take from the settling sheet of both banks the amount 80 reported, and adjust the Clearing House Statement accordingly; provided that such notice shall be given to the manager before 1 o'clock of the same day. The Clearing House Committee is also empowered, whenever It shall consider it for the interest of the Association, to examine any bank, member of the Associaton, and to require from any member, securities of such an amount and cbaracter as said committee may deem sufficient for the protection of the balances resulting from the exchanges at the Clearing House. At an early day a meeting of the Association will be held, to take action on the proposed amendments. FEW WITHDRAWALS FROM THE PHENIX

17. May 16, 1884 Morning Journal and Courier New Haven, CT

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purpose of obtaining such relief as it is entitled to relating to notes and other securities belonging to the company held or disposed of by Grant & Ward. AN OFFICER OF THE METROPOLITAN BANK told a reporter this afternoon that $185,000 was paid out during the day. The deposits amounted to $664,000 and checks for $454,000 were certified. It is estimated that by settling his privileges on the basis of to-day's prices Russell Sage would lose from $800,000 to $1,000,000. FAILURE OF A SMALL BROKER W. H. Sweeney, a small banker at 104 Nassau street, assigned to-day to A. C. Aubrey. The failure is insignificant. A RUN ON THE BROOKLYN BANKS. There was a run on the South Brooklyn Savings bank to-day. The depositors are mostly poor and ignorant people who were misled, as the bank is on Atlantic avenue, into supposing it was the Atlantic bank which suspended yesterday. The demands were promptly met. Father Franceli, of St. Peter's Catholic church, to which most of the depositors belong, went to the bank and addressed the crowd, begging them to go home and not lose six months' interest by drawing out their money. He said he would personally vouch for the soundness of the bank. His remarks, however, were not heed~ ed by the excited crowd Up to the elosing of business $125,000 had been paid out. The cashier says there is a surplus of $700,000 and all applicants will be paid in full. The Brooklyn Savings bank was also run upon and paid out $150,000. The officers count their gain of $6,000 in interest. Nearly all the other savings banks in Brooklyn sustained slight runs. Another Bank Shuts Its Doors. St. LOUIS, May 15.-The Bank of Kansas City closed its doors this morning. It had a capital of $600,000 and was the last to close in the great panic of 1873. President Chick states that the suspension is due to the failure of Donnell, Lawson & Sintpson, their New York correspondents. The bank had a surplus of $106,688.After a meeting of the directors it was announced that the bank would pay twenty per cent. cash and the rest in certified checks. The amount of deposits is figured at $2,000,000. A Bank in Illinois Goes Down. QUINCY, Ill., May 15r-The Union bank of this city failed to open its doors this morning. When the Marine bank of New York failed the Union transferred its accounts to the Metropolitan, and the closing of that bank yesterday is given as the cause of the suspension Comments of the London Press. LONDON, May 15.-The Daily Telegraph this morning regards the financial situation in New York with cheerfulness and says everything will be straightened out in the course of a few weeks. It praises Secretary Folger's action. The Times and the News think it deubtful that the crisis is yet reached in the New York panic. They do not think, however, that the panic will be as disastrous as that of 1873. Ward Tells About His Business Methods. NEW YORK, May 15-The examination of Ferdinand L. Ward was continued before Referee Cole to-day. Mr. Ward admitted that he never had any government contracts, yet had given out that impression to the people he was dealing with. The examination also developed the fact that two ledgers were kept by the firm of Grant & Ward, the entries in the one being at considerable variance with those in the other. The testimony of the bookkeeper of Grant & Ward showed that two weeks before the failure Mr. Spicer deposited with the firm $26,000 in Colorado bonds and that on the day of the failure Mr. Ward declared that the bonds were only deposited for safe keeping and not as security for Spicer's account, and they were withdrawn from the assets of the firm. The examination will be resumed to morrow

18. May 16, 1884 The Daily Dispatch Richmond, VA

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morning. It was a correspondent of the Metropolitan Bank of New York, and the announcement was made that on account of the suspension of that bank it was thought best to suspend temporarily. It is thought the bank will resume in a day or two. The promise has been made to depositors that they will be paid in full. There was a run on other banks to-day, but all demands were met promptly and the excitement was over by noon.

19. May 17, 1884 St. Paul Daily Globe Saint Paul, MN

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WHY FISK & HATCH FAILED. C. P. Huntington, president of the Chesapeake & Ohio railroad, was interviewed regarding the statements that Fisk & Hatch had been embarrassed through holding the stock of that road or the Central Pacific. He responded that the reports were untrue. I know the flrm has not any Central Pacific, and I think it caneot hold any Chesapeake & Ohio. Before the panic of '73 the firm held most of the Chesapeake & Ohio shares, but may have some still, possibly 1,000 shares. President Baldwin of the Fourth National bank, who knows the firms affairs intimately, confirmed Huntingdon's statements and said the whole cause of the firm's trouble was the decline of governments. AFFAIRS BECOMING SETTLED. A visit to the various banks on the street found matters progressing in the usual routine. The Bank of Commerce has not at any time been in the slightest trouble. The officers indignantly deny the rumors circulated, and say that instead of a deficiency they had a substantial balance in their favor. At the Metropolitan bank business is going on as before the temporary suspension. Examiner Scriba reported to the comptroller of the currency that the institution is doing nicely. The rest of the banks are running as usual, and affairs seem to be again settling down.

20. May 17, 1884 The Semi-Weekly Miner Butte, MT

Article from The Semi-Weekly Miner, May 17, 1884

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NEW YORK AFFAIRS. Condition of the Monetary Situation. NEW YORK, May 16.-The Tribune says: President Seney, of the Metropolitan bank, has resigned, it is understood, upon the advice of the investigating committee of the clearing house, upon the ground that his name was connected in public with speculative railroad enterprises. The new president was formerly vice-president of the bank, but has not been engaged in active business for several years. He is wealthy and has a high reputation. The assignee of N. W. Dimick & Co. says the liabilities are large, but he expected the firm would resume soon. After 2 o'clock the feeling became general that the day would pass without further disaster, and when at 2:40 it was announced that the widely known and honorable house of Fish & Hatch was unable to meet its obligations, there was great surprise and much sorrow. In less than five minutes after the failure was made known from the rostrum of the stock exchange, Nassau street, from Pine to Wall street, was filled with excited crowds. The space outside the railed enclosure in the large office of the firm, was filled with brokers brokers' clerks and messenger boys, many with checks on the firm. No explanation of the cause of the failure was given. "The firm has suspended payments," was the only answer given to the avalanche of questions. "Will it resume?" was asked by a dozen voices, but no one in the outer office was found willing to answer the question. Inquiries for members of the firm failed to produce any result. In a short time several detectives came in and the rooms were slowly cleared of the throng, the heavy iron doors were closed and a policeman 1 was placed on duty at the Nassau street entrance. Only those having urgent business with the firm were afterwards admitted. For more than an hour Nas8 sau street, in front of the banking house. was almost impassable. The 1 general feeling in the street is one of profound sympathy with the firm. It acted with marked liberality towards its creditors in the years succeeding its failure in the panic of I 1873, and paid its obligations nearly or quite in full when it might have I

21. May 23, 1884 Burlington Weekly Free Press Burlington, VT

Article from Burlington Weekly Free Press, May 23, 1884

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SAINTS ANDSCOUNDRELS President Seney Declares a Hankrupt's Life to be as Very Gay One. (From the New York Sun.] Mr. Seney is in robust health, and his money-making power has been SO great that his friends believe he will ultimately get upon his feet again and take oank as a millionaire. He has little to say even to friends about the causes of the recent trouble. His fortune has been SO identified a with railroad speculation that his future as rich man depends largely upon an increase in the value of railroad properties. He has expressed no regret at the large amounts which he has given away. Methodist ministers whose enterprises have dourished from his gifts believe he is so much of magician in finance that, in the words of a thrifty proverb of the bighlanders of Caucasus, De could make "cheese from a be goat." Mr. Sency said to a reporter last night: The suspension of the Metropolitan tank was certainly due in large part to the attacks upon It and me which have come from all quarters. Just at the moment when money was the lightest a report was spread, and appareatly believed, of my being interested largely in gigantic and risky real estate speculations ID northern Alabama. There was no truth in the report, for I never had & dollar in any sucu scheme, but it was enough, nevertheless, to rob the bank of its heaviest depositors, at a time when it could least afford it." "To what extent," was asked, "do you ttritute the failure of the bank to speculations in which you have been engaged?" "I think just this: A man who speculates successfully is a saint, and every one will swear by Lim. A man who speculates and Joses is a scouddrel, and it people could think of anything worse to call him they'd do 11. That is all 1 have to say on that subject. Take this Ward business, for example. I don't call that speculating, but let us suppose that by some bhad suoke of luck Ward had made twenty millions. Where would LO be now ? A ket and scrupulous man of Busipess, and is ising isneter. Oh, a busted man's life IS a very gay one "Ten nm about the Lamite," suggested a friend. "Ou, yes," said Mr. Seney. "I almost forgot that, in the undet of more exciting things. I'm to be blown up with uamite, and so are my nouse and family. A gentleman wrote me to-day H perfectly serious letter, in which ne said he had just returned from the country, and would Soon be around with a few friends to blow me up. I understood from the papers that 1 had gone sky nigh, but here's a chap that thinks it isn't nigh enougo. Of course I've no idea who 11 can be. Is 18 certainly no depositor in the bans, for none of the de positors are going to lose anything." Mr. Seney absolutely denied the report that De had made a general assignment for the benefit of his creditors, and said he did not contemplate doing so. "I can say nothing," said he, "as to my future movements. 1 am now a man living day by day, and I can't say now what 1 will do L -morrow." An toilmate friend said that Mr. Seney was not thought to have any private fortune, and that the question as w whether or not he would be a totally ruined man would de. pend altogether "I . De action taken by his friends aud

22. May 28, 1884 The Salt Lake Herald Salt Lake City, UT

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Miscellaneous. New York, 27.-J. E. Simmons, of the firm of Grant & Co., was nominated for president ofthe stock exchange. At a meeting of the Metropolitan Bank directors this morning, the president stated the deposits had diminished about $9,000,000 since the suspension, but shows no further diminution this week. Many letters were received from former depositors leading to the belief that they will again become depositors. Some new accounts were opened. Washington, 27.-Mrs. U. S. Grant has sold the house in Cor> coran street which was in her name, to John R. McLean, editor of the Cincinnati Enquirer, for $6,500.

23. August 2, 1884 Savannah Morning News Savannah, GA

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# GEORGF I. SENEY TO-DAY. Unjust Stories About the Ex-Millionaire's Style of Living. Some of the papers, says the New York Commercial Advertiser, have devoted themselves of late to describing the luxury in which Mr. George I. Seney is now living. An intimate friend of Mr. Seney's said this morning: "Any such stories are altogether unjust and unfair. At the time of the Metropolitan Bank's suspension, Mr. Seney gave up all his property, although he was not legally bound to do so. Even his admirable collection of paintings was placed at the disposal of the bank. The paintings have not been sold, as they were held against an emergency. If they were to be disposed of, they would of course bring in a large sum. Possibly at some future time Mr. Seney may himself buy them back. But as for luxurious residences, and all that, Mr. Seney is living quietly out of town, at the house of a relative. His household is anything but expensive, and he does not even keep a horse. He is in the city occasionally, but does no business. This ought to dispose of the foolish and unfounded charges of extravagance that have been raked up against him.