16422. O. M. Bogart & Co. (New York, NY)

Bank Information

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

Metadata

Model
gpt-5-mini
Short Digest
2b63d15a

Response Measures

None

Description

O. M. Bogart & Co., a private banking/brokerage firm at 108 Broadway, made an assignment to John Wheeler and closed offices during the Wall Street panic of May 14, 1884. Articles describe a suspension/assignment and no evidence the firm reopened; later reports show judgments against the firm, consistent with permanent closure. Cause attributed to firm losses, inability to meet calls, and the general market crash.

Events (3)
1. May 14, 1884 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Firm suspended and made an assignment after heavy losses, shrinkage in securities, inability to meet calls and general market pressure related to the May 1884 Wall Street crash (mentions indirect influence of Grant & Ward and Metropolitan Bank troubles).
Newspaper Excerpt
Soen afterward it was known that O. M. Bogart & Co. had suspended.
Source
newspapers
2. May 15, 1884 Other
Newspaper Excerpt
O. M. Bogart & Co. INVOLVED. AN ASSIGNMENT MADE TO JOHN WHEELER ...made an assignment to him, giving the following preferences ... total $48,876.20. Mr. Bogart declined to make any statement with regard to the embarrassment of the firm, its causes, who were affected, what the prospects were of resuming business. He referred creditors...to Mr. Wheeler, the assignee. The latter...I can't possibly give any information I have not seen the schedules nor examined the books
Source
newspapers
3. June 18, 1884 Other
Newspaper Excerpt
Judgments to the amount of about $125,000 were entered in New York Monday against O. M. Bogart & Co., the bankers and brokers who recently failed.
Source
newspapers

Newspaper Articles (7)
1. May 15, 1884 Morning Journal and Courier New Haven, CT
Article from Morning Journal and Courier, May 15, 1884

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

2. May 15, 1884 New-York Tribune New York, NY
Article from New-York Tribune, May 15, 1884

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O. M. BOGART & CO. INVOLVED. AN ASSIGNMENT MADE TO JOHN WHEELER-THE LIABILITIES AND ASSETS NOT KNOWN. One of the first failures announced was that of the well-known banking firm of O. M. Bogart & Co., No. 108 Broadway. About 10 o'clock Mr. Bogart sent for ex-Tax Commissioner John Wheeler, who has done some business with the firm, and made an assignment to him, giving the following preferences: Mary S. Stockwell (as executrix), $1,583 20, and individually, $26,512; Mrs. S. Stockwell, $7,767 68; James L. Gladwin, $4,615 80; Mary H. Stockwell, $3,916 88; Caroline A. Hardie, $2,459 53; Jane A. Kelly, $1,881 24; Angus Kelley, $861 20; Peter D. Sturges, $650; Emma L. Adams, $563 49; F. Nauman, $435 75; J. T. Brooks, $426 30; James M. Campbeil, $390; C. W. Pardee, $371 57; total $48,876.20. In addition to these, Richard W. Bogart,a nephow of O. M. Bogart and a member of the firm, made the following individual preferênces for money borrowed: Julia de A. Johnson, $15,000; Elizabeth de Angelis, $5,000; Ada de Angelis, $5,000; Anna E. Reynolds, $3,190 02; Elizabeth L. Bogart, $2,808 38; and Robert H. Corbett, $2,500. These loans were made recently and, with the exception of the last two, were secured by notes payable on demand. Mr. Bogart declined to make any statement with regard to the embarrassment of the firm, its causes, who were affected, what the prospects were of resuming business. He referred creditors who came to inquire about their loans, privileges and contracts, as well as all others, to Mr. Wheeler, the assignee. The latter was in consultation with William Allen Butler, of No. 111 Broadway, until late in the day, and when appealed to for information greeted everybody cordially and answered with a smile: I can't possibly give any information I have not seen the schedules nor examined the books; in fact I know nothing about the failure excepting that I was surprised to learn this morning that I had been selected as the assignee. As soon as I have made an examination sufficient to enlighten me as to the affairs I shall be glad to communicate it to the public through the press. I have no means of estimating what the liabilities are, but I do not think them large, as the firm have not been doing so extensive a business the last year as formerly. I may say the same with regard to the assets-I know nothing about them. From other quarters it was learned that the firm had met with some serious losses in the last two years, and this, together with carrying privileges" too long, precipitated the suspension. It was rumored that the firm had indorsed some of George I. Seney's paper, and had guaranteed large blocks of puts' and calls of H. L. Powers. These rumors Mr. Bogart denied. The only member of the firm who appeared at the office was Richard W. Bogart. He kept a cheerful face, but neither customers nor reporters were able to elicit any definite information from him as to the condition of the firm's finances. He pointed to Mr. Wheeler and said: There is our assignee; he can tell you all there is to be said. We have been losing money in large amounts during the last three years, and our customers failing to come to time, we have now had to succumb. I don't know that the suspension of the Metropolitan Bank precipitated our failure, although we had large deposits there as well as at the Park National Bank. I cannot give any definite information about the amounts or say anything more as to our accounts. We have made an assignment, and the deed of assignment gives all the information there is at present. The firm of O. M. Bogart & Co. has done a large business in negotiating the paper of the dry-goods trade. There seemed to be little anxiety in Worth and Leonard sts. and other portions of the drygoods district, however, over the news of the failure. Daniel Robinson, of the house of H. B. Claffin & Co., said that he did not see how the failure of the firm could in any way affect the dry-goods trade. He knew nothing as to the extent of their dealings at the present time. William L. Strong, of the firm of W. L. Strong & Co., said that he had taken pains when he first learned of the failure to make inquiries to ascertain how far, if at all, the trade had been affected. So far as he could learn, only one house had paper with these brokers when they failed and noadvances had been made on it, so that they would get It back. That house was a perfectly solid one in any event. Mr. Strong said that he did not see, therefore, how the failure could affect the trade in any degree. Nor would the other aspects of the financial excitement make any material difference with their business. Mr, Strong added O. M. Bogart & Co. used to do a very large business<in negotiating the paper of the dry-goods trade-in fact larger than amy other brokerage house in the world; but within the last two or three years their business in that. direction appears to have greatly decreased, so that recently It has been comparatively small, as I understand. The firm consists of Orlando M. Bogart. Richard

3. May 16, 1884 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, May 16, 1884

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THE OTHER SUSPENDED FIRMS. Hotchkiss & Burnham Expect to ResumeAffairs of Bogart & Co. NEW YORK, May 15.-From the New York Tribune: Mr. Hotchkiss, of the firm of Hotchkiss, Burnham & Co., said that they hoped to resume to-morrow, although he could not say positively that they would be able to do so at so early a date; that they would resume was only a question of time. They were hard at work straightening out their affairs, and had got sufficiently far to prove that they could pay every dollar they owed. Mr. Hotchkiss added that many of their customers had taken up their stocks or largely added to their margins, while others were yet to be heard from. Previous to Wednesday, the firm had reduced their indebtedness more than $1,000,000. The trouble was, they could not borrow on certain St curities. The banking offices of O. M. Bogart & Co. remained closed, with the exception of a small opening through each of the iron doors. ExTax Commissioner Wheeler, the assignee, began his examination into the condition of the firm's affairs, but late in the afternoon he was not able to give any information as to the resources or liabilities. He said: "I have been busy looking over the books, collecting securities and collaterals of customers deposited with the firm and locking them up in the safe. I have not yet had time to begin the inventory, but I hope to be able to give some definite information within two or three days." Orlando M. Bogart, senior member of the firm, was at the office throughout the day. He greeted everybody with much cheerfulness. It was learned that O. M. Bogart & Co. held $400,000 in trust funds, of H, L. Horton, who died in Kalamazoo, Mich., about a year ago. Examiner Seriba discontinued his official work at the Marine Bank, and transferred the books, keys, etc., to the receiver, Walter S. Johnson. The settlement of balances at the clearing house between the associated banks was accomMetropolitan plished without trouble. The Bank received an issue of about $2,000,000 of loan certificates, and the Second National Bank applied for $600,000; the total amount issued to five banks was $4,000,000. Wm. A. Camp, manager of the clearing-house, spoke encouragingly of the situation. With regard to the particulars of the failure of Fisk & Hatch, he said: "I am certain it can in no way affect the banks. This is the time for the banks to pursue a liberal policy, and not hesitate to lend money on good collateral." The loan committee will meet to-morrow for the purpose of scrutinizing the securities on which further issues of loan certificates may be desired. The Second National Bank opened its doors and began to pay checks this morning a short time before the usual hour by President Trowbridge's order, so that all apprehension might be removed from the minds of the half dozen depositors who had come to draw out money. During the forenoon rather a larger number of persons than usnal filed up to the paying teller's desk, and by 11 o'clock the number of those waiting their turn was 210. Shortly after noon the number was reduced to five, and the run was finally broken. During the day there were many deposits, the total of these being larger than the amount paid out. Little information could be had regarding the extent or direction of Jno. C. Eno's operations. The names of half a dozen brokers were mentioned as having done business with him, but several deny it. President Seney, of the Metropolitan Bank, resigned, it is understood, upon the advice of the investigating committee of the clearinghouse, upon the ground that his name was connected in the public mind 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 A. W. Dimoek & Co. says the liabilities are large, but he expects the firm to resume soon.

4. May 16, 1884 New-York Tribune New York, NY
Article from New-York Tribune, May 16, 1884

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AFFAIRS OF O. M. BOGART & CO. The banking offices of O. M. Bogart & Co., at No 108 Broadway, remained closed yesterday with the exception of a small opening through each of the iron doors. Ex-Tax Commissioner Wheeler, the assignee, began his e xamination into the con. dition of the firm's affairs, but late in the after noon he was not able to give any information as to the resources or liabilities. He said I have been busy In looking over the books, collecting the securities and collaterals of the customers deposited with the firm. and locking them up in the safe. I have not yet had time to begin an inventory, but I hope to be able to give some definite information within two or three days. Alanson M. Wilcox, the Stock Exchange member of the firm, was in consultation with their counsel, William Allen Butler, for some time, explaining the business of the firm as it had been conducted lately. Orlando M. Bogart, the senior member, was at the office throughout the day. His conntenance betokened no uneasiness, and he greeted everybody with much cheerfuluess. He said to a reporter of THE TRIBUNE: The assignee and myself have been busy to-day getting the returns from our customers and the banks, and in straightening things out generally. Everything is going along quietly and smoothly, and Mr. Wheeler is busily at work in preparing a statement. I think we will come out about square, and pay everybody his legitimate claims in full. I wish to congratulate THE TRIBUNE upon having a better, fuller and more correct story of our affairs than any other paper. The absence of Charles W. Townsend. the eashier of the firm, who is a member of the Stock Exchange, was explained by Mr. Bogart, who said that Mr. Townsend went home sick on Monday, and sent word yesterday that he would be at his office today. It was learned that O. M. Bogart & Co. held $400,000 in trust funds of the estate of H. L. Horton, who died in Kalamazoo, Mich., about a year ago. Mr. Horton was a retired merchant of this city, and about ten years ago he deposited these securities and opened an account with Bogart & Co. It was rumored that some of these had been used by the firm to bridge over their difficulties, but it was learned that such was not the case, and that the firm still hold them intact. HOTCHKISS, BURNHAM & CO. TO RESUME. Mr. Hotehkiss, of the firm of Hotehkiss, Barnham & Co., said yesterday that they hoped to resume to-day, although he could not say positively that they would be able to do so at so early a date. That they would resume was only a question of time. They were hard at work straightening out their affairs, and had got sufficiently far to know that they could pay every dollar they owed Mr Hotehkiss added that many of their customers had. taken up their stocks or largely added to their margins, while others were yet to be heard from. Previous to Wednesday the firm had reduced their indebtedness more than a million of dollars. The trouble was that they could not borrow on certain securities. The banks had suddenly become extremely careful and cautious in scrutinizing 88curities and stocks offered for loans, and had compelled the taking up of others. The result was that money could not be had except at the most ruinous sacrifices. Hence they, with others, were compelled tosuspend. NOTHING NEW ABOUT HATCH & FOOTE. There were few visitors at the office of Hatch & Foote, at No. 12 Wall-st., those that dropped in being friends who called to express their sympathy or customers who wished to lend what assistance they could in arranging matters. Daniel B. Hatch, the senior member of the firm, said to a TRIBUNE reporter: There is nothing to add to the facts published this morning. It is impossible for us to make a statement as to our condition, but I do not think that the liabilities will prove to be as large as the public supposes. We have made many personal sacrifices to earry our customers, and we are prepared to make more in arranging settlement. The progress of the settlement will necessarily be slow on account of the dilatory processes of the law. CONDITION OF NELSON ROBINSON & CO. Nelson Robinson, of Nelson Robinson & Co., the Seney brokers, stated that the condition of the firm was the same as on Wednesday. The ultimate result of the arrangement with creditors would depend largely on the future course of financial affairs. Mr. Robinson declined to discuss the relations of his firm with the Metropolitan Bank. W. H. SWEENEY MAKES AN ASIGNMENT. W. H. Sweeney, banker and broker, at No. 104 Nassau-st,, made an assignment yesterday to A. C, Aubrey. Mr. Aubrêy said to a TRIBUNE reporter It is a general assignment without preferences; the liabilities are small, I think not over $10,000. Mr. Sweeney did his brokerage business through Fisk & Hatch, and their failure was partly the cause of Mr. Sweeney's. Mr. Sweeney failed a year and a half ago. THE MINOR SUSPENDED FIRMS

5. May 22, 1884 Weekly Phoenix Herald Phoenix, AZ
Article from Weekly Phoenix Herald, May 22, 1884

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continental, 4 10 11. RAGGED MARKET NEW YORK, May 14-11 a. The stock market ragged; failures for a but the rumors air is stopped thick with moment, of further suspension. There are few who know precisely where they stand, and the situation is strained. ANOTHER BANK FAILURE. NEW YORK, May 14.-The national bank examiner has pronounced the Second National bank insolvent. M. Bogart & Co. bankers, SUS= Robinson & announce pended. all Nelson, active stock carried Co. by them were sold yesterday, and people carrying them in loans need not be alarmed, as they will show the obs them. J. their tained books, for proving G. money Williams, broker, says he will announce his suspension later in the day. Hatch & Foote have announced their suspension at the Stock Exchange. MUST BE COLOR BLIND. BOSTON, May 14.-The Governor has signed the bill to prevent life insurance companies from dis rim, inating against colored people. GALA DAY FOR ODD FELLOWS. SAN FRANCISCO, May 14.-The Odd Fellows are blessed with splen> that sun could did weather, be desired, the day the being shining all not too day been a all holiday brightly, having by but Governor proclaimed Stoneman, warm. legal The streets were seers, on amusement. business early with sight hour is the suspended. bent From thronged an A large number of visitors from neighboring towns and cities are present. Buildings are gaily decorated, and flags are floating from houses all over the city. Two hundred and ninety-fours lodges are rep. resented. The procession will be the most imposing Odd Fellows' demonstration ever held on this coast Punctually al the appointed hour, 11:45 this morning, the procession started on its line of march. Both sides of the streets, windows, balconies, and roofs were crowded with spectators. Every lodge in the State had a representative in the procession. It is estimated that 6,000 people were in the parade. They arrived at the corner of Seventh and Market streets, when the corner 11 stone ceremonies were performed. The different divisions took up a position around the point of interest. John Wright. architect, preL sented a jeweled trowel to Grand P Master W. W. Morrow, with an aple propriate speech. Grand Master Morrow's response and acceptance of the trowel was couched in short, g but expressive, language. He said: ti "I shall take great pleasure in prea serving this splendidly jeweled em fa blem of toil, as a souvenir of this delightful occasion, and I doubt not that it will always serve as a generous reminder that nothing of consequence in this world can be accomM plished without labor." In closing, N he continued: "Permit me to again S thank you and wish you every sucL cess in the work that is before you. M I will now proceed, as best I may, to pl execute your command." At the a conclusion of the ceremonies the of entire body of participants proceed~ a ed to the pavilion where the oration in and poem of the day were delivered. W Hon. John B. Harmon delivered III the oration An original poem for W the occasion, composed by Clarence g T. Urmy, of San Jose, was read by be W. E. Sheridan, the tragedian The procession was an hour and fifteen minutes in passing a given point. p CLOSED THEIR DOORS. in T NEW YORK, May 14.-The Metro, politan bank suspended and their pt o doers are closed: George I. Seney is SI president. O. M. Bogart & Co. ass ga signed to John Wheeler; preference of $86,000. ON THE BOUND. CHICAGO, May 15 -11 a. m -The ye markets opened with a strong upW ward bound this morning and the 1C starting prices were 1 at 11/2 over the bl best figures yesterday. SUSPENDED-RESUMING. NEW YORK, May 5.-Wall street th 11:30 a. m.-A dispatch from Boston ha reports the suspension of F. A. Hawley & Co., a firm which although not heavy dealers, were regarded in good standing Hotelkies n & Burnham are balancing accounts a and expect to resume to-morrow. gi At 11:45 a. m.-Comparative quiet h reigns at the stock exchange. It is th more apparent every moment that the crists is past. The suspension cf Hawley & Co., Boston, was caused

6. May 22, 1884 Mineral Point Tribune Mineral Point, WI
Article from Mineral Point Tribune, May 22, 1884

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PANIC IN WALL STREET. The Metropolitan National Bank of New York to Closes Its Doors. Several Stock Commission Firms Announce Their Suspesion. NEW YORK, May 14-10:30 a. mThe scene at the Stock Exchange was one of intense excitement this morning. There was a rush to sell stocks, partly on account of brokers being unable to meet their engagements. A BIG DROP. There was a drop in prices of 1 to 54 per cent., as compared with yesterday's closing, the-downward movement being accelerated by rumors of several bull pools being forced to liquidate. SUSPENSIONS. Before 10:15, Nelson Robinson & Co., and Goff & Randall announced their suspension. O. M. Bogart & Co., bankers, have also suspended. They made an assignment to John Wheeler, with preferences amounting to $86,000. Nelson, Robinson & Co., announce that all active stocks earried by them were sold Tuesday, and the people carrying them in loans need not be alarmed, as they will show their books proving money obtainable for them. The oil stocks guaranteed by them are a good delivery. J. C. Williams, broker, says he will announce his suspension later in the day. Several stocks were brought in under the rule this morning on his account. Hatch & Foote have announced their suspension at the Stock Exchange. Their failure was precipitated by the Phoenix bank refusing to certify their checks. THE CROWD. Wall, Broad and New streets, surrounding the Stock Exchange, are filled with surging masses, and the galleries overlooking the trading-room are crowded to repletion, The excitement is almost unprecedented. On the floor of the exchange all is in confusion. Though there is little new business done, the sales OH account of suspended firms make a show of business. The situation is decidedly panicky, and further failures are looked for. Distrust is the most prominent feature, and the banks are carefully scrutinizing accounts. RUN ON THE SECOND NATIONAL. A telegram from Twenty-third street reports three lines of depositors demanding money at the Second National Bank. It IS feared that the bank will stop. AT THE PHOENIX BANK everything is quiet. The officers say there is not the slightest trouble and there is no run. THE FOURTH NATIONAL. President Baldwin, of the Fourth National bank, says his bank is all right. HATCH & FOOTE state their suspension was not caused by the refusal of thePhoenix bank to certify checks, but was caused wholly by the exhaustion and the refusal of customers to renew them, and their liability to sell stocks without undue sacrifice. THE METROPOLITAN BANK. In the statement issued by the clearing house April 24 last, the full condition of the Metropolitan bank was as follows: Capital, $3,000,000; net profits, $1,498,600; circulation, $1,304,900; due other banks, $5,815,000; due depositors, $3,192,300: unpaid dividend, 100; total. $14,815,900. Certified checks, $757,200. ANOTHER DAY OF PANIC. NEW YORK, May 15-3 P. M.-The firm of Fisk & Hatch, whose suspension has just beee announced, is composed of A. S. Hatch and Harvey Fisk. Hatch was recently elected president of the Stock Exchange by a unanimous vote. The firm has been the heaviest deaalers in government bonds on the street. They were considered a staunch, conservative reliable firm. They have been recognized as the fiscal agents here of the Chesapeake and Ohio railroad. and of the

7. June 18, 1884 Sacramento Daily Record-Union Sacramento, CA
Article from Sacramento Daily Record-Union, June 18, 1884

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TELEGRAPHIC BREVITIES. At Troy, N. Y., the movement for a general shutting down of the kmitting mills failed. It was stated in the House of Commons Mon day that correspondence is going on between the United States and England on the subject of dynamiters. Judgments to the amount of about $125,000 were entered in New York Monday against O. M. Bogart & Co., the bankers and brokers who recently failed. There is trouble between the members of the Western Trunk Line Association and Eastern trunk lines regarding the rate on wool from the Mississippi river to the seaboard. A posse of Deputy Sheriffs have returned to Helena, M. T., with three horse thieves they had captured near Rickerville, Idaho, Geo. Munn, one of the thieves, was killed in the struggle. Judge Simrall, of Louisville, granted an in junction in the Vice-Chancellor's Court Monday against the removal of the office and headquarters of the Knights of Honor out of Kentucky. The baseball match at Boston yesterday between the New York and Boston nines was attended by 3,000 people. There were twelve innings. The score stood: Boston, 6; New York, 4. Negotiations are in progress for the practical consolidation of the Baltimore and Ohio Telegraph Company, D. M. Bates President, and the Postal Telegraph Company, J. W. Mackay Presdent. James G. Blaine, Mrs. Blaine, John A. Logan, Senator Hale and Miss Dodge left Augusta for Ellsworth yesterday morning, to remain at Ellsworth as guests of Senator Hale. They return to Augusta to-day. The entire business part of the town of Pinos Alto, Mexico, was destroyed by fire on May 29th. The loss is stated at $300,000; no insurance. Considerable distress existed among the inhabitants for want of food. A suit in admiralty, involving $450,000, has been begun in the United States District Court at New York by the owners of the steamship Lepanto, who seek to recover damages for collision with the steamer Adam. In a Cabinet Council at Madrid, Canovas del Castillo, the President of the Council, informed his colleagues that Spain had to decide on her course of action in the event of a protege of France being proclaimed sovereign of Morocco. The Independent Republican Committee appointed at Boston to confer with New York Independents arrived in New York yesterday morning. They held a private meeting in the afternoon and arranged preliminaries for a formal conference in the evening. A dispatch from New Laredo, Mexico, says information is received there that a terrible accident had occurred on the Tampico branch of the Mexican Central branch, by which two American and twelve Mexican laborers were killed by a premature explosion while at work. George P. Sanborn, Receiver of the Manufacturers' Bank of Milwaukee, finds the liabilities about $400,000; assets, nominally $500,000, but they cannot realize on them. Outsiders say they will scarcely pay 50 cents on the dollar. No other banks are affected. No business houses are troubled. The United States Grand Jury at New York has handed in indictments against James D. Fish and John C. Eno, charging them with misappropriation of national bank funds: also an indictiment against Ferdinand Ward, charging him with aiding and abetting an officer of a national bank in illegally applying funds of the bank.