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20 Edition. Latest Telegrams to The Star. LATEST FROM WALL STREET. NO FAILURES THIS AFTERNOON. Only One Small Failure Up to Noon. NEW YORK, May 16. Noon-The first two hours of business, which are usually the most dangerous in a season of flurry, have passed with only one small failure, which has had no great depressing influence. Sub-treasurer Acton says there was a brisk demand for legal tenders at his office yesterday, causing the withdrawal of $3,500,000. Up to this hour to-day a million legal tenders have been paid out and nearly another million in sliver certificates, the latter being for payment to the savings banks The Banks More Willing to Lend. Brokers report more willingness on the part of banks to make loans. A large amount of money has come from Canada and heavy transfers have been made from the other side. Improvement in the stock Market. Noon.-Stocks have been better since 11:30 a. m. Lake Shore is up to 84, St. Paul to 68%, Missouri Pacific to 66%, Union Pacific to 42% and Western Union to 52%. THE BANK RESERVES STRENGTHENED. At the sub-treasury $8,500,000 in legal tenders have been paid out this morning. This will strengthen the bank reserves. The Banks All Right To-day. 1 p. m-A visit to the various banks in Wall street and vicinity found matters progressing in the usual routine manner. DONNELL, LAWSON & SIMPSON. Donnell, Lawson & Simpson expect to be able at about 8 o'clock to make public how they stand. Relief from the Clearing House Loan Committee. The meeting of the clearing house loan committee has resulted in a decision to loan the members of the association all the money they may require at par on pledge of government securities. This will, it is thought, help materially to ease the prevailing stringency in money. PRESIDENT HATCH. George W. Ely, secretary of the stock exchange, in answer to an inquiry W hether President Hatch had resigned or not, stated that no official notice has been given, but the governing committee will meet at 3:15 p. m., when action in the matter is expected. MONEY AND WHEAT. 12:10 p. m.-A dispatch from Chicago to a grain house here says: Wheat is higher, but the market does not look strong. The condition of the money market in the west will have more effect on prices than the affairs of Wall street, as receipts are likely to increase both here and at Milwaukee owing to the difficulty of obtaining money throughout the country. Corn and provisions are dull and featureless. The Advance in Stocks. NEW YORK, May. 16-Wall street, 1:30 p.m-After midday stocks were strong and higher again. The buying for European account was large. At the Erie office the transfers of stock for this account is very heavy. Lake Shore was the special feature of the market, and rallied 7% per cent to 88%. New York Central rose 2½ to 1104; Canadian Pacific 24 to 401/4, and St. Paul 8½ to 6916. The action of the clearing house banks this morning has caused the improvement. The Bank of the State of New York has just lent $3,000,000 on government bonds. The market for governments is much improved. The 4 1/28 have advanced to 110, and the 48 to 119. Some small lots of the 4S have been sold for cash at 119. Money to stock exchange borrowers has advanced to 13/2 per cent per diem. A Quiet Feeling. New YORK, May 16.-Wall street, 1:45 p. mMoney is now ½ per cent per diem, and stocks are steady. The feeling at the exchange is quiet. NO FAILURES AT THE PRODUCE EXCHANGE. NEW YORK, May 16.-Business matters at the produce exchange have rather a gloomy look, although no failures or rumors of failures are current. he leading members are quite hopeful that there will be no panic on the produce exchange, but some members are discouraged at the outlook or financial affairs in Wall street. At the petroleum exchange this morning prices broke 81 c., or from 73% at the close of yesterday down to 65c. There was some excitement, but prices afterward recovered about 4c., standing at 12:15 P. m. at 69. No failures reported. Runs on Savings Banks. The run on the Emigrant Industrial Savings Bank had abated to-day, and business was being done to-day the same as usual. About $160,000 paid out yesterday, but depositors were returning their money to-day. The Greenwich Savings Bank run ended to-day. There was a steady run on the German Savings Bank to-day. A crowd surrounded the Bleecker-street Bank this morning. They were nearly all Italians, and the run is confined altogether to them. There was a run to-day on the Seamen's Savings Bank, but all deposits were paid on demand. Washington Advices in Wall Street. NEW YORK, May 16.-Washington advices state that the sub-treasurer at New York reports only $109,000 of bonds offered for redemption there under the Secretary Folger proposition to redeem in anticipation of date of call The excess in the Treasury now is $152,675,659, which is fourteen millions above the legal reserve, and therefore sufficient for another call ir considered necessary. The Critical Hour Passed Safely. WALL STREET, 2:15 p. m-The hour of settling has been passed safely, and no additional failures have been reported. Excitement About Russel Sage's Office. NEW YORK, 2:30 I m-A line of brokers, messenger boys and others gathered around the office of Russell Sage, in Broadway, and clamored for admittance. The services of two policemen were required to keep the peace, for as one by one the holders of privileges were admitted within the well-guarded portals the excitement and impatienoe of the remainder increased. The Excitement in Brooklyn Allayed. NEW YORK, May 16.-The excitement of yesterday at several Brooklyn banks had calmed to a considerable extent to-day, and confidence in the savings bank has been generally restored. There was nothing that could be called a run on any of the savings banks to-day. All Quiet at Three O'Clock. 3:15 p. m.-All is quiet at this hour. Orders have been cabled by Messrs. J. & W. Seligman for shipment or gold from Europe. Chicago Markets Depressed. CHICAGO, ILL, 11 a.m-The markets became depressed and partially demoralized. Shortly after 10 o'clock on receipt of news of additional failures in New York and a decline of stocks, July wheat sold down to 88½, but has risen to 88% July corn sold down to 57, and has advanced to 57%. Provisions are also very weak. Stockholders Alleged to Have Been Defrauded. BOSTON, May 16.-A meeting of the stockholders of the Bridgeport and Housatonic rolling-stock company was held here yesterday, at which there was a lively discussion of the situation, and several pointed charges made. It was openly alleged that the stockholders had been fraudulently dealt with, and that all efforts to ascertain the assets of the company have been unsuccessful. It was finally voted that a committee of two be appointed to investigate and report at a future meeting. Latest from London. LONDON, May 16, 6 p. m-At 5:30 the prices of American securities on the street were fluctuating The closing prices, however, were better. There have been large remittances of government coupons
