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MORE OF THE CRASH. The Effect of the Late Failures-The Situation Grave, but More Reassuring. NEW YORK, May 16.-The market at the Produce Exchange was feverish yesterday, and at the opening prices fell off a little, and wild rumors of failures in the West were started. Subsequently the market regained what it had lost only to fall off again. However, on announcement of further failures, Wall street, it closed slightly lower than on Wednesday. There was talk at the exchange of abolishing calls, as has already been done in Chicago. It was the general opinion that this would be done immediately. At the Cotton Exchange the market opened firmer, prices being higher than at the close of business Wednesday. There was little business done, however. When, the news of the failure of Fisk & Hatch reached the exchange. the market broke somewhat. ST. LOUIS FINANCES. ST. LOUIS, May 16.-The situation here is practically unchanged. Bankers and business men generally have no apprehension for the future. More satisfaction is expressed at the resumption of the Metropolitan Bank, and while a little uneasiness is produced by the suspension of Fisk & Hatch and a very slight flurry is created by the temporary trouble in Kansas City, still the general opinion is that nothing serious will result outside of New York. Considerable attention was attracted, however, to Donnell, Lawson & Simpson, and there is considerable desire to know the condition of that firm and what its future action will be. It has intimate relations with and is correspondent of nearly a hundred banks in Missouri, some sixty in Kansas, thirty or forty in Texas, and has numerous connections in all the extreme Western States and Territories. It is not known, of course, to what extent they are involved in this course, but their indebtedness to Western bankers may run into millions. L. V. Stephens, of Boonville, one of the most prominent bankers of the interior of this State. estimates that in case of a complete failure of the firm the loss to Missouri will be fully $500,000. It is also feared the loss to Texas b nkers will be heavy. UNDISTURBED IN SAN FRANCISCO. SAN FRANCISCO,May 16.-The suspension of Fisk & Hatch, of New York. created more surprise than any yet announced. This is chiefly due to the fact that the suspended bank was such a heavy dealer in Government bonds, largely held on this toast: secondly, they were fiscal agents of the Chespeake & Ohio Railroad system, controlled by C. P. Huntington, first Vice President of the Central Pacifle. The announcement was immediately followed by rumors as to the effect the suspension might have on railroad interests on this cost. Charles Crocker, President of the Central Pacific, stated emphatically to a representative of the Associated Press that it would have none, that neither the Central nor the Southern Pacific were or could be involved with the suspension of the firm. NEW YORK, May 15, 10a. The Metropolitan Bank posted a notice that the bank examiners having made an investigation, the bank will resume at twelve o'clock. Henry L. Jaques was elected President of the Metropolitan Bank in place of George J. Seney, resigned. The floor of the Stock Exchange had more than the usual complement of buyers, and by 9:30 crowds of operators gathered in knots waiting the signal to commence the day business. Just as the clock marked ten Chairman Mitchell gave three raps of the gavel. In an instant the pent up excitement of the brokers gave vent to a howl, and five hundred hands were lifted in the air, and the various pools were formed in which different stocks were dealt in. Ere five minutes had elapsed the gavel was again heard among great din, and the announcement was made that Dimmick & Co., of the United Bank had suspended. Dimmick is President of the Bankers & Merchants' Telegraph Company. WHAT GOULD SAYS. Jay Gould stated to the Tribune: "This disturbance is a senseless thing. It comes from a fear of each other by both banks and brokers, I think, rather than anything else. The general calling of loans is wholly unnecessary and foolish. I suppose the banks are a little more cantious than usual on account of the loss suffered by the First National last week, but I think the worst is over; people will regain their senses, and there will be orders here from all over the country from persons eager to pick up bargains. The action of the banks is excellent. Every one will see that there can be no panic while the banks stand together. am sure all the excitement is at an end." He says the action of banks, in deciding to pool Issues, has decided the situation favorably. He does not anticipate further failures of either banks or banking houses, although he admits the possibility that some weak stock houses may suspend temporarily. The failure of the latter he does not regard as a misfortune, as the weeding out of small dealers helps to give a healthier tone to the general situation. GRANT WARD. Receiver Davies reports the liabilities of Grant & Ward, SO far as he is able to ascertain, at $14,501,531. Collaterals held by creditors between ten and twelve millions, leaving an unsecured indebteduess of be tween two and three millions. A SLIGHT BREEZE IN KANSAS CITY. KANSAS CITY, May an early hour this morning crowds began to gather around the banks. The news from New York yes terday had created some excitement, especially among small depositors, many of whom had all their savings in bank and naturally felt a little nervous. As the hour for the opening of the banks approached. the crowds about the doors grew denser. and speculations were rife as to what would be done. While some wore serious countenances. the greater portion of the people were good nathred. At nine o'clock the an nouncement was made that an agreement had been entered into by all the bankers of the city to pay twenty per cent. on deposits and give, if desired, a certified check for the balance, payable only through the Clearing House. The purpose of this measure was obviously to avoid the dangers of a panic ricken run. The large depositors were unitormly confident and kept away from the banks. All of the large mercantile houses made their deposits this morning as if nothing unusual had occurred. This had a decided tendency to check alarm on the part be frightened
