Show DANGER DISPELLED D gleams of sunshiny Sun Sim shino pierce the storm clouds that hang over wall street by western asad press to the HERALD CHICAGO may alay 14 the inter ocean will conclude an editorial pointing out dan dangers daners ers of bank bauk officials indulging in in speculation as follows there has been an unhealthy state of the tile stock market for tn two 0 years and it was about time for a clearing up storm tho tile great cram grain producing and cattle growing west is prosperous farmers arc are having good seeding time everything in ill the agricultural lino line looks better than it did twelve months ago the east must get down out of the clouds and be content to tread on solid ground kite flying is is dangerous business and aboe abone all bankers whether it bo be ward fish eno seney or any other i man ian 1 should I 1 beeer clear of specula speculations ti ans all of which are outside of legitimate banks bank ing operations NEW slay may 14 A A representative of the associated press has just interviewed a prominent director of the tile metropolitan bank who says emphatically the depositors will be paid in full the tile directors have gone through all the securities and throw ing out all classed as doubtful the they have more than sufficient to pay the depositors the suspension was s solely due to the tile fact that depositors throughout the country have become scared seared through the attacks on the president of the bank had inaugurated a general withdrawal of their deposits this fact coupled with the general distrust engendered eldered fro from the critical situation in speculative tive circles caused the bank to suspend it is stated that the bank is not likely to resume solon humphreys a director says that had the president laid before the clearing house a full statement of tho the affairs there would have been no deed for the sus suspension p bension as the ther associated banks would undoubtedly have come its assistance and helped it over the crisis settlements for the day have all been made from the worldon thursday win wm ACa A camp nip manager oatlie newyork new york clearing house eaid said the failures in wall street edday cannot be called a panic one bank suspended and a number of broker firms failed that is the extent of tho the damage thus far done the prompt action of the clearing house today to day in passing a resolution for one bank to sustain another lias has put an end to the excitement and no vo apprehension need be felt the situation far dif different from that in 1873 then it took the banks two or three days to decide to do what they have bave promptly done today then the trouble was allowed to grow ow till it was a real panic now it is decked checked at tho tile outset I 1 believe the metropolitan bank will resume operations tomorrow to morrow and I 1 dont apprehend aar any other bank or fir firm m will go under what was tho the cause of the trouble 1 it began with the failure of grant ward and the marine bank these occurrences created a feeling of general distrust for which there thero was real really lyno no occasion it was fostered by wild rumors set afloat on the street and which were reproduced by the papers the action of the continental bank in refusing to certia certify tile checks of A dyet co and ako tko tho trouble of john lohn 0 eno and tile second national bank capped alic climax to the general feeling of uneasiness and tho he result was the tile flurry of today to day who is principally responsible those who circulated and exaggerated the rumors which have been flying about ever since grant ward went under but as J said before all ail further danger is averted by the action of the clearing house today to day CHICAGO may 14 in lii view of the great speculative interests which are always sharply affected by outside financial convulsions chicago received the tile startling bulletins fro from m new york today to day with a great de deal al of equanimity The course of grain a and provi 0 v aiona was naturally downward w b but lt the total break wag was n not ot so sev severe ro as has happened under less exciting conditions and the total decline was not such a OHO as would have called out any marked comment in ili a normal condition of affairs now york intelligence however was cm em boyed to ita its full limit by the tile bear clemert in speculative hits to break down prices budwith but with no greater effect than has bas already been noted the latest news from the metropolis was sought after eagerly and tho afternoon papers issued hourly editions lo 10 meet this demand the rooms of tho stock brokers supplied with private wires to wall street were filled with dense crowds during tho trading hours watching the fluctuations a as 3 indicated i 1 by the resting of the latest prices on the boards brokers purs pun chased considerable stock for their short customers who deemed it a good opportunity to cover and there were a number of heavy purchasers by moneyed customers who took the opportunity to buy some better class 01 of stocks for iny investment estment in banking circles the situation was wae discussed freely the statement being made that the local banks were never in belter better condition and had bad no alliance in tile lie east which would involve them except sympathetically by tho the new york failures and it was argued tile failure of the tile brokerage firms coul donly have a passing effect here other close observers contended contend ed that the situation wasa was a natural one but due very largely to tile wrecking tendencies of various large operators and the fact that their prognostic had been voiced by certain papers for tho the past six months to accomplish com the present result stocks have been raided which had shown a large largo increase in earnings ear ninga but the same sanie influences could not affect values generally |