The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1857-10-07
DAILY DISPATCH.
vEpx EsDAY MoRNlNG,...... OCTOBER 4 iSe''

WEDNESDAY MoRNlNG,.... OCTOBER I. 1881
,ohn 4 Stevens. of New York. writes TO Nathan
Appleton Of Boston. a. follows;
$50 ~ ,,r ham ; have scarcely diminished loans
for two months, nowi'h 'sn9,h9 s,s' eSwaad and
,iI eSarlnue 70 exptaa AN the system 81 atscouht-
inn mainly only short paper. 'hey always nave mo-
NAY "a loan When will yours c9ahue themselves 70
49, asfss ami cease 20 encourage the psrnicious
s%stm III Ian, credits-creditS ramiaed 20 the last
,t,r S,rreSp ,ndng banks in Boston are advised
thai We win not press them tor their balances
Toe suspension of the large exchange and broker
age fra Of J. W. Clark Co.. State street. Boston.
is ann unced They are compelled to stop in eonst-
ouence of the suspension OF the New York house.
The Boston Journal says;
They owe very snail amount in Reston, and
their assets estimated greatly above their iiabii
tiles. Their collection funds will be paid over as
AT the banks business has been done up promptly
and there is undoubtedly more cheeriHi te'iKE :,
some gentlemen have paid theif hot n g he hanks
day to-day, and the receipts at some 81 t"e p"'N
have been very large. ~, ,,..srs Tavlar 4
we hear of the suSpensen, % w" IN ne ho1t and
shoe trade The suspension o' ~ 10 aIso "a.
4 Co, an extensive dry go'j' hous'' Is ''S0 "
ported -
"Poreisn exchanges continue inactive, with con
siderable quantity a;ing upon the market. ana pht
g., Hnx.rs Bis on London drawn against pro
Snra have been sacrificed at 9oGA95 per cent. but
bankers rates are quoted AZ loSp o. We nave re
ff,Anl
,sI If The suggestions regars 10 the purchases of
t,reicn exchange, and the idea that the coin now
lyins Idle in the Philadelphia banks might be used
for this purpose has been approved as very hapry
one ltnothing can be done in the meantime. IL IL
stll practicable TO obtain rcmttances OF specie from
Europe for this purpose although that VIII take
nearly months lime.
I'VE also notice with regret the suspension of
Messrs Gage, Dater & sloan dry goods J3Sners Ia
Chambers street. enjoying a fair credit; OF MeSsrs
l.. Bauer Co. in the hosiery trade; NOSES NV
ingstoa { Ballard. grccers in Water street ana
The suspension uf MeSsrs. l.. H., we are iniofmeu,
will be "nly temporary embarrassment, -. r.
The failure Of MeSSrs. Powell, kamsieu 20, OF
Newburg has been followed by the suspension OF
thu Powell Bank OF that city. ,,,o,e,..
The intelligence from the nest Is 10 Ll.e e'aeca
that the reaction in nm inCe Is quite as severe Is WAS
predicted With less capital, less speCl', ana less
currency the bank have not bank Circulation ior
the ordinary wants Of trade We regret to report
The suSn4n-ion of McsSrs Taylor. shelby Co. bank
crs. Lexington. Ky; Green, Thomas Co. bankers
huntington Iowa: Moore Hsllowbush Co, bank
ers Quincy, III. Arun upon the banking house of
" r. Culver. Louisville, had occurred on the LIST
instant but cx-Secretary Guthrie aud seven other
wealthy gentlemen had guaranteed the deposits Of
the house, so that the run ceased
The New York Journal of Commerce of Monday
afternoon says:
rhcre is no especial change in the demand for mo-
new hut there was more cheerful feeling during
IN morning hours AMI our business men seemed tn
take hold again with fresh courage. The banks
have been pressed by borrowers during the last few
DAYS the of Spccis for the week will show
that The fault has not been wholly on their side
Many hav. drawn out the coin and boarded il, so
that, notwithstanding the large accessons from the
Sub Treasury and other sources the banks have not
b-ea able to retain the amount given in the last
report
We expact the bank statement to show a decrease
Of upwards Of million i'll specie, from causes above
noticed, a.d also II general decline in loans. The
falling of in the latter in the face of an implied
agreement To increase il, Is explained by the aSser
ton that large amounts of temporary loans have
been transferred to the discount column, thus in
crasing the discount line without swelling the total
Liabilities
The New England Banks are resolved to cut off all
doubtful Institutions and 10 stand fast in body by
all Saich can show a sOnnd condition. The Western
Bank Of Springfield and the North America AT Soy
TIN RI de Island Banks are making some discrimi-
naton in regard 10 the bills OF two three Of the
numb g. with view OF an early movement for It.
sumption.
Sales in New York, Monday, of $1,000 Va 6s at
$50
Five shares of Exchange Bank Stock. belonging Ia
estate. were sId in Norfolk on Saturday, at SlOt
S0gsie0 % l.
NORTHERN MARKETS.
NEw YoaK, net. 9Th Flour and Wheat dull and
n0nilaj Com firm mixed 7oc. Stocks lower.
B4LTINDaE oct 6th Market dull AMI gen rail- J
IN halg-i FioGr quiet. s. 25dsj 81; Red Wheat
n ~ White 81. l0Gl~0. yellow Corn TU(DI2
White : OF.
RICHMOND MARKETS, Oct. f.
FLpUR-Nu transactions quotations nominal.
WHEAH.--N1rkrt dull with veI y limited arrival
Quotations show teciine OF cents on last week
an ,tsttiJn-. Good to prime Red 81 IjGi 20; oil /
pr IN, white 81 p 20 30 A very superior art;ci
might bring J. tie more.
CORN Sales at - cents per bushel.
ExCHANGG.-ln stating the rates OF Exchange YES
t-Tday, New York was omitted before the rates o
drafts that city. and Ii appeared thIt those rates
were t1r drafts on .itmD re an Philadelphia. Or
New York the banks are checking snaringly to
their cuStom-rs4 Ut per cent nrem On phtlaielphi'
and Baltimore the rates ar" par Nt prem.