The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-10-01
More Injrhctions Upon the Gold
ana Stock Exchanges.
SALES OF GOVERNMENT GOLD.
Disposition of the Gold EX-
change Bank Funds.
WHAT TIE STREET THINKS

the Gold Exchange although counterbalanced by
the complications produced by injunctions and other
similar tactics on the part OF few houses, removed
much OF the depression from the minds Of the fnan-
cial men, and yesterday morning the occupants or
Wall and Broad streets met with determination to
put the most favorable construction possible
upon the indications OF the hour. Dealers
had made up their minds that the only method
by which they could unravel the entangements OF
last Fridays operations was to unite together In
harmonious spirit and mutually submit to incon-
yenience and sacrifices. They had found thai to
adept coerclye policy and force an Immediate set
tlement according TO The rules Of the board would
result IN the failure OF heavy firms already IN tot
tering condition. and whose fall would involve many
Of themselves in ruin. This especially the case
in respect to Smith, Gould, Martin Co., and while
q majority OF the dealers manifested disposition
TO close upon the firm by throwing It's gold upon the
market, they dared not make a move detrimental to
Smith, Gould j. Marnn's interests, because OF their
own financial relations with the company. There i5
no doubt that the Injunction served upon the Gold
Board by this 1rm prohibiting the sale OF their gold,
was unnecessary, as 1t was the interest Of nearly
every dealer that the company should weather the
storm.
wednesday nights reflections upon this fact
opened the eyes Of operators more clearly to the
degree OF their dependence upon each others forbear
and Stock exchanges early yesterday morning all
felt that mder measures would he ADOPTED.
and an opportunity be anvrded for matters to gradu
ally right themselves. The financial atmosphere
was not without threatening signs. however, and
notwithstanding the improved feeling which pre-
vailed few were without aDprehensons Of additional
complications and danger. A thousand rumors OF
failures new injunctons and coercve measures
to be sprung upon the God Board during the day
Hvtn ahnnt mo Tan 90
prominent brokers created an eddy OF interroga.
tories the crowd and the hour Tor the opening OF
the Gold Board was awaited with degree Of fmpa-
thence scarcely less tnan that OF the preceding
morning.
The streets, however, were not so crowded as on
the previous day. At nine O'Clock the sidewalks in
Broad street were not half filed, and the street
occupied only by few drays, which drove along
Of tror without fear Of running down any one. The
principal gathering was in front OF the office of Smith,
Could & Martin, Dus the two guards at the door
barred admission to the curious, and the crowd
could only wait for the few favored ones to emerge
from the once to ascertain what was going on.
There was no excitement Of any KIND.
Many Iounged upon ratings and puf1ed
their cigars with comparative Indifference, except
when some one supposed to possess important
news arrived and not until nearly ten O'Clock was
there anything like the hustle which was naturally
expected 10 appear. The principal topic OF CONVEX
saton, outside OF the business OF the day, was the
queries given in yesterdays HERALD from promi-
nent Wall street in respect to the alleged CON-
plicity of the government with this extraordinary
gold movement. Nearly every man asked his neigh
boris opinion OF the allegations, and which the
majority speculated upon It's probability, ana
denounced or endorsed them according to
their respective political predictions, not
a few OF the leading dealers shook their neads
ana intimated that there might be more
In the charges than people supposed. There was
great curiosity respecting The author OF the queries
bat opinions this point differed widely, at least
dozen names being mentioned as possible authors.
Oneman gave the impression that he could produce
prooiof some OF the allegations but declined TO
explain when closely questioned, stating that he did
not see wat good could be accomplished by any
expose at tlfstime and that the whole matter would
probably be spn revealed.
THE GOLD ROOM
was called toprder at ten O'Clock, and the PREsI-
DENT tMr. Coxhnnounced tnat an executive session
would be hedpr the purpose of taking action upon
some neutrality-suspicious. by member.
The SEcRRTAf (Nr. Akers) moved to suspend the
eleventh rule Of he bylaws Of the Board. The rule
Is as follows
Should any nitlber neglect to fulfil his contract
on the day IL beAmes due after having been duly
notihen, tne pay contracting with HIM may
employ one OF tha Ulcers OF the Board to purchase
or sell the gold as We case may be- accounting with
the member in defalt for any surplus or cuarpinr
him with any dehcllcy.
Mr.. Akers explani that the reasons for declaring
this rule temporary imperative were that injunc
lions had been isssd restraining the Exchange
from selfng gold o. account OF Smith, Gould & |
Martn. Inc amountS this gold was 50 large that |
us SAFE under the rule loud AFFECT every member OF
the Board. Many wereSnabe to receive the gold |
coming TO them unlet they could deliver their |
Rold under the rule. 70 enforce the rule under |
these circumstances would cause O greater |
panic than nad been Seen since last Friday. |
This day was the CHS or the EXCHANGE |
unless they could fesuce business they would |
.nnd themselves suppantA by other organizations,
as a. tnat moment there Re two concerns buying |
and seliing gold. IL was Question OF life or death |
with the Gold Exchange. Ma unless they could |
resume business they musi vsband He had con- |
suited 'Jenersons ManuaL' nd had found that IL |
was competent, by q two-thr Vote to suspend for
q definite time any rule OF the Aard This rule was
only to be imperative for q 1tea period and IL |
they suspended 1t they might Ne the orranIzation.
MIR. Akcrs remarks were ne Wei with freauent
IMPRESSIONS OF appreciation al, the motion 10 sus.
psod the rule was unanimously kpted.
CONDITION. OF HsnA co.
MIR. ELLIS, OF the nrm OF Heatk Co., was then
introduced Tor the purpose OF m Mo statement
In relation TO tne AFFAIRS Oh TIE nrl nd addressed
the Board as follows:--
GENTLEMEN OF THE GOLD ExcHANGAI am author.
lied to appear here for the Grm OF Hen 4 CO.. ana
10 state that they have purchased Tor Min Gould.
Martin & CO., large amounts OF go.\ when the
latter firm Is unable to receive throuehA Clearing
House. We have made exertions TO ,liyer this
god' ana are assured thatt WIZ be receive by Smith,
eouid Marun some time, but exactly Wien cannot
be known Yesterday, when 1t seemed poalbe that
through the exertions Of the Committee Of rwenty
the dinlcuties which encompassed MS swld no
cleared away we went to Smith, Gould al Marlin
and asked them they were prepared 70 en- mo
gold rhcy sad yea, and that as soon as tue N.u,Io
was oyer we could send IN The gold and tako n ,ha