The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1869-10-01
NEW YORK.
The Excitement In Wall Street Civ
ing Way = Injunction Issued By
Judge Clarke.

ing Way Injunction Issued by
/ Judge Clarke.
NEW YORK, Sept. 30.-The excite
ment Of the past week has given away
| to comparative quiet, and business at
the Stock Exchange is now conducted
In q more orderly manner. A large
number of gold contracts on last Fri
days business have been privately
settled, and the complications incl
dent to that days business have been
reduced to q comparatively small com
pass, A large number of contracts
have been paired. 1t is believed that
this entire matter would have been
adjusted to-day had it not been for
the interference of the courts, which
action is generally and severely con-
demned.
It appears that under the present
condition Of the money market. Smith,
Gould & Martin are unable to take the
$500, ,000.0 in gold delivered to them
under suspended settlement, and are
consequently driven to expedients for
postponing settlement. Judge
Clarke issued an injunction TO Smith,
Gould, Martin a. Co., restraining
various firms from carrying out any
contracts made by them on behalf
of Smith, Gould, Martha 81 Go.
in any other manner than
In that conformity to the rules
of the New York Gold Exchange.
as they existed at the time such con-
tracts were made, from compromising
or settliHg any claims withou5 the ex
press consent of Smith, Martin,
Gould & Co., and from any action in
the matter except on their orders. It
appears the firm allege that the de-
PENDANTS, as the plaintiffs agents,
made loans to the amount of about
$50, 900, 600 in gOld-upOn security of
about $40 100000 in paper currency,
withIthe understanding that no settle
meRt was to be made for each sepa-
rate transaction. IF the plaintiffs |
were adjusted through the Clearing
House, a large amount would remain |
IN their favor, while if separately set |
tied, they would be obliged in one day |
to raise about $4,000, ,00Gin paper aud |
gold currency. The plaintiffs are in |
formed that the persons to whom gold |
las been lent on their account by the |
defendants intend, within a single /
day, 70 demand the return Of the S40,- /
100000, the security deposited for /
gold loans, instead of settling at the I
Clearing House, as agreed. hoss
The Commercial says in order to
facilitate a settlement of Fridays /
transactions in gold, and to obviatc
the difficulty OF taking up $6,000,0 900 l
Of gold under the stringent money /
Smith, Gould, Martin & Co,
brokers, have offered, instead of tax
ing up the gold coming to them, to
accept currency at 135 for gold; and
Smith, Gould, Martin & Co. offer to
settle with their brokers on the same
difference between 1876
and the actual figure to be settled.
So far ar we learn, very few accept
the proposal. 1t is stated that one
firm settled over 100000 Of gold
this afternoon in the
Stock Exchange. The action of the
2old Exchange, in suspanding by
avs seven and eleven, was to-day
lnder discussion, and strongly con-
lemned.
The following amounts of gold |
we're sold under the rule for firms
pecifed at the Stock Exchange.
These sales were made during the
present complication of gold, and do
rot necessarily imply the failure of
he parties: Albert Speyers, S1,00O.-
100; VIM. Heath 81 CO., $3.50 600:
Jno. Pond $500. 600; Reid, Leow 81
Jarhart, $500,000; Polhamus Il Jack
ION, $500, 600.
Sales we're also made on account Of
Lockwood Il Co., and Daiken 81 Gil
espio. a great many brokers pro
ested against this action and legal 4
vIiaoffnns 11l~1lrr - /
herefrom. Among the parties pro-
esting were PoIhamus & jackson. J
After the sales an injunction was
erved on the officers of the Stock
exchange, II. K. Willard being
plaintiff, restraining them from sell
ng under the rule any gold on ae-
'ount of any parties acting as agents :
i Smith, Gould, Martin & Co., in ]
he transactions of last Friday.
The failure of Lockwood g. Co.,
hough expected to turn out unfavor- {
bly, to- creditors, Is not likely to ,
ause much injury to the brokers or
heir banks, who appear to have been s
by ample margins. The
weight of the losses is likely I
o fall on Western capitalists, who, :
or the most part, will be able to bear i
4CAA WltnO01 GtuUdIEdESllGuls 4S I
ct no statement of affairs has been
and it is impossible to give :
ny estimate of liabilities OF. assets.
The Erpress says it is estimated
hat the price Of gold and securities
ealt.in on the New York Stock Ex- s
hange. since Thursday last, will
each S100,000.000 in currency. Many
nen have been reduced from affluenee
0 poverty The large stock failures :
f yesterday have not dragged down
ny other firms, but these failures
Till cause heavy loss to a large num- {
er of people who have no deposits
nth the suspended firms.
cincinnati Items. I