The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1869-09-28
Meeting OF the Gold BOaFd-NOthIng
Done Yesterday.

Meeting OF the Gold BOard-NOthInR
Done Yesterday.
NEW YORK, Sept. q.
AT a meeting of the Gold Board this
morning, q committee was appointed,
who waited on the Gold Exchange
Bank 10 ascertain the status OF affairs.
During the audience oi the committee
bers Of tho present financial position ol
their different firms, and the Board
voted TO make no sales Of gold Till alter
the report OF the committee was re-
celved. Brown & Co., state that they
have not failed, but have adjusted all
their balances with other dealers, inde-
pendent Of the bank. Mr.. Coliender,
Examiner OF National Banks, reports
all the National Banks OF this city In a
sound condition. Several injunotlons
have been issued against the Gold Ex
change Bank 10 day by Judge Clark;
also, several against Wall street brokers.
An order Of arrest was issued against
James Belden, on suit OF l.. Hatch, for
secreLing his property TO defraud his
creditors. No price OF gold at the room;
on the street, 1856. Railways weak;
Erie, 81; Michigan Southern, 500; New
York Central, 1881. Money tight at
7 per cent. gold.
AFTERNOON REPORT.
Affairs In Wall street are still kept
TO great extent In confusion, by the
block In business at the Gold Exchange
Bank, which temporarily keeps the
gold dealers out OF large amount OF
money, and, moreover, leaves In doubt
the standing OF numerous firms, with
the natural result Of extreme caution
and uneaslness In every branch OF
business. The Gold Exchange Bank
Is making Its clearlngs on the business
OF Thursday, but has not yet made the
first settlement on the enormous trans~
actions OF Friday. The following let.
ter has been addressed 10 the members
Of the Gold Room:
N. Y. GoLD EXCHANGE BANK, I
NEw YORK, Sept. u, 1869.
DEAR SIR:-I hand you enclosed
your corrected statement; the following
statements OF dealers have been reject.
Ell from the movement for failure to
comply with the rules: Albert Speyers;
Doenin & BOcock; Galway, Hunter &
Co.; william Belden g. Co.; Seerage &
Graves; Cha5. Z. Mcclure & Co.; p. Il.
williams Jr., y Co.: Chas. W. Keep &
Co.; James Brown & 90. Your ball
ances must be made good by IL O'Clock
to-day; all accounts not settled at that
time will be regarded as failed for the
purpose OF clearing. You will be In.
formed Immediately, Of any further de-
Ia nlk In UNnF ofafnmRnt
[Slgned II. NJ. BENEDICT,
President.
James Brown emphatIcally protested
against the statement OF the Gold Ex-
change Bank that he had failed.
The Treasury purchases OF bonds
from this date 10 November lst
will be as follows: September 10Th
$4,000, 900; October %, 1000, 900; Ooto-
Der 7th, 81, ,000, 900; October 18th, $2,00O,-
900; October Goth, $4,000, 900; October
2lst, 81 900, 900; October 9th, $1,000, 900,
Total, $l2,000,000. The purchases oil
October 7th and 20th are for the Sink
Ing Fund.
The Treasury sales Of gold for the
same time will bG as follows: Sept. %
1000 600; Sept. 80, 1000, 900; Oct. /,
Sl.OOO.0OO: Oct. 8. 81, l,0OO. 600; Oct. 8, g..
100000; Oct. IL, 81, ,000, 900; Oct. IA, ST..
100000; Oct. 10, $l,0O0,O00; Oct. 10, ST..
100000; Oct. 22, $1,000, 900; Oct. ~, 81.
100000; Oct. 2S, $1,000. 200; Oct, %, ST..
OO0, 900; Total, SIS O0O, 600.
The gold room held an executive ses-
sion at 10 o'clock this morning, 10 con.
slider what means should be adopted Ia
hasten the settlement Of last Thursday
and fridays business. After some
discussion q committee of nine was ap.
pointed to agree upon and report some
method for expediting business, and a
recess was taken. The members re.as-
sembled at o'clock. The committee ol
nine stated that they had got the Gold
Exchange Bank to postpone the decla-
ration Of any more defaulters until
r. NJ; and also suggested that COM
mlttee OF four be appointed to walt up.
on the bank OF New York, and see II
that Institution would assist lu Gle airing
the gold operations OF Friday; owing
TO the fact that the gold exchange bank
has not got through With Thursdays
operations, a resolution was offered
that Noncompliance with the reg
ulations OF the Gold Exchange Bank ia
take up the gold OF Belden d Co., shall
not work q suspension OF any member
OF this body; this was lost by a very
decided vote. A letter was received
from VIM. F. LIvermore & Co., giving
notice that their outstanding trRnsac.
tIons were all TO the account OF VIM.
Heath & Co.; Smith, Gould, Martin &
Go. and Jas. Fisk, Jr.; this letter WAS
ordered 10 be placed on file.
A resolution was adopted iuatruoting
the Committee Of nine 10 return 10 the
Gold Exchange Bank and see II they
were not able 10 receive the assistance
OF the Bank officers, and 10 ascertain
for themselves what they could OF Bel
dens' affairs and report rs early as
possible. During the discussion Mr..
Milbank, who acted as Beldens' clerk
on Thursday, said he distinctly recol.
leoted the amount that was handed In,
Beldens' account was on the debt side
S770,0 900 and on the credit side $685..
600, from this it would seem hia In
debtedness TO the bank was Sl5, 900 In
gold; this must have been the We'd
nesday's business. After another recess
the board assembled at 3 O'Clock, and
the Committee appointed to ascertain
the condition OF Bslden & Co., with the
Gold Exchange Bank, said that they
were unable to make any report and al
adjournment took place until to-mor-
row, A. n.
AS to the final issue Of the present
dead lock, 1t may be concluded that
everything depends upon the clearingG
Of Smith, Gould & Co., and from
what Is generally understood al
10 the extent OF their settlements al
l6O, there appears to be little doubt thai
their clearings will turn out all right
On Saturday q large number OF inlunc
tlona were sued out before the Supreme
Court, restraining the bank from pay.
Ing over deposits which It 10 supposed
have been served. Charles Collender
the National Bank Examiner, States