Richmond Whig. [volume] (Richmond, Va.) 1862-1865, 1864-04-27
LArER FIR ON The UNITED STATES.

The Sentinel has received late United States papers
from which We make the following extracts:
rHE FINANCIAL IxClIENESr-TALL IN STOCKS HEAvY
TAmUREs.
Wall street. New York, vas the scene of the most
commotion on Monday. Indsed, its eq1al t is stated
Ia, scarcely been knO=n in the history Of the
street. for the past three years The World, Of yeser
day, ssys:
Houses Of the most undoubted stability aud wealth
were compelled 10 sacrifice largely in order to meet
their engagements while many others--some dozen in
number t is reported-temporarily succumbed to the
immense pressure brought against them, and asked
extension of SIX dAys in order to BALANCE accounts
and Start anew. Men who entered upon the duties OF
the day yesterday morning with hearts light with he pc
aud well matuIed plans for business, retired to their
eouches last night mourning their Losses and With
brains distracted by the nervous excitement Of the day
Scarcely one among the immense throng Of brokers in
the street but lost moro less heavily, aud uole
could recount the transactions OF the day and feel that
he had made one step in advance towards wealth.
When the excitement at lie height the throng in
the street in front Of the regular boards great
70 completely bar the passing of vehicles, and the
various banking Institutions we're overwhelmed with
anxious customers, each eager TO make Immediately
available Wha.eVer funds could be drawn borrowed.
Yesterday was time when true friendship was put
TO the severest tes' and he who had money to lend
had no difficulty in meeting those who desired to bor
row Az the hour drew near when bust ess must ose
he excitement grew if possible more intense, and men
shose face was ordinarily sedAie and whose temper Was
calm through the stress Ike school boys and sc:ed
as II suffering with mental aiment .I1
This panic was osibg 20 the sudden contraction Of
on nsss by the banks the caving in Of loans the in
sposition manifested by the banks TO favor their
toners aud the inability Of brokers' clients 10 perform
their contracts thus compelling the brokers to throw
upon the market stock which they would otherwise have
held Government securities but slightly affected
The principal fall In railroad and bank stocks,
100 900 shares of which, representing 900 600
we're thrown upon the Market and in many instan;es
sacrificed in order that their holders might realize rom
their sales sufficient 10 make good inevitable loses
otherwise This immense mass Of stock upon the mar
ket caassd decline in toe most stable securities
and with the crash s went dewn, figure which
has not heretofore been reached. As instances e q
FoH Wayne, which fel ISL at the 6rSt 81 at the Sc
cond boarj, and l6 outslse Erie sold Ct at The frSf,
and 81 az the second board; Auison yer % X ad-
ing 10; Illinois Central 2Si; ClsVes and P5tsburg
IL; Rock Island liz These the mOs. prominent
ocks and their decline shows what must haze been the
effect upon other securities less iaVorably known.
Greenoacks commanded premiam Of two per Gen..
Yesterday over certified checks and the banks exer-
ced ex RENE caution in transactng business with
these evidences OF deposit Indeed in some instances
their care vas attended with the vexshous results
20 the dealer Nho depended Tor his safety upon the
petition with which bis business could be transacted
About noon TUmors Of failures OF well known and pro-
mioent houses few thick and As, about the street. The
most exag Grated stories related OF the amount
for which certain FIRMS had failed and the extent Of the
dsaeter Each announcement OF this character fell Ike
kn,n Of doom upon many heart, for there were
hundreds in the xious throng who did not know how
soon their turn might come Business irends were al
a DISCOUNT Each one had quite enough to do to take
care Of himself and keep his own head above water
The most extrayAgant and usuious rates were offered
for money and thOee who had it-and they we're com
Daratively feW-greedy prohsed bf this opportunity
but exacted the most undouoted security In
10 double the amount Of their loan.
The Herald says;
The firm of Morse Co, stock brokers, gave notice
20 the board that they we're forced to suspend and
ouested an extension Of sixty days Tney were what
are termed bull asors and their heaviest liabilities
ere in the Ptsburg and Fort Wayne Railroad which,
after the of the failure, fell to no. de-
cline of 3s per since last Monday Another young
house of tue regular exchange bsa'd gave way, and
several active members OF the public board were unable
10 respond to their contracts.
The Tines, referring to the panic, remarks:
The liber.l subscriptions for the Government ten
fortiee the heavy payments for duties at the custom
house the caing in Of loans ADD the rapid contraction
Of the volume Of circulating notes by the banks, all
tended 10 increase the srogeney in the money market
and the panic in stocks and merchandise. At the va
rons sessions Of the stock boards, well in the open
streets stocks were thrown the market unreservedy
and prices were depressed lightly on Government Sc
curites, but mos icaruy on nearly the whole &c Of
"faDeies" Principals were mercilessly sacrificed by
their brokers' margins wiped out contracts
abusive epthets Justify interehAnged, and some lively
puRs,ic exercise iuduged in much to the entertain
ment of isintsrested and patriotic spectators Of the
slaughter Of the nnocents" At the close OF the day
festivities lame ducks were drug 10 she market, aud
the erstWble much envied stock gamblers could Md
none go poor as to do them reverence They have
sOwed the wind aud have reaped the Whirlwind-
The Jour al Of Commerce says;
The stock market had most tremendous pressure