Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1869-09-30
NEW YORK.
The Wall Street Tempest and The Des-
trucfiOn IL Threstens-The Gold Ex.
change Bank About TO be Blown to
Pfeces-Business Failures, etc.

II
truefiOn Ii Threstens-The Gold Ex
change Bank About TO be Blown to
r,ieces-Business Failures. etc.
NEW YORK, Sept. 29.-The Times saws
the crash in stocks yesterday afternoon
has, il is said, seriously, effected MANY
houses which escaped the crash in gold
last week. Houses which suffered by the
fall in gold market and were broueLt al.
moet to the verge of ruin, il could not be
expected to withstand the double sbock
and it is expected that to-day will record
the fact that very large number of firms
have gone under.
If the Gold Exchange bank should fail
to meet Its obligations or if run should
be made on that institution, it is expected
that the crash in Wall street will be en-
tlrely overwhelming. That the bank is
in a critical condition is felt certain.
That it has lost the confidence of the
brokers is fact. With this support with.
drawn from it, the end of that institution
must soon follow.
The Herald calls on Congress- to enact
law on gold gambling, and holds Sacre-
tsry Boutwell, responsible for the present
bad state of monetary affairs.
The Tribune says the feeling against the
Gold Exchange bank is Justly deeper than
at any previous lime, and the general IN
certainty in Wall street continues, with
an expectation on part of many that there
are still troublous times ahead of u.s.
LATER.
New YORK, Sept. 29.-Night-Ths
stormy debates il the gold room, alternate
remarkable depression and buoy ancy on
stock exchange, stock failures and re-
ceivers bills and injunctions, form group
OF events which make the day without an
equal in the annals of Wall street. At the
early session of the gold board was pre-.
scented statement of facts by the Exchange
Gold bank, in which it is insisted that
the bank is solvent and able to paw all
its debts. Later in the day however. it
was announced that the bank had been
placed in the hands of receiver. The
injunction was granted by Judge Cardoza
on application of person claiming TO be
a creditor of the bank. The application
for permanent receiver is returnabie |
next Monday. Meantime, Aug Brown, of |
the law firm of Brown, Hall & VanderpooI. |
has been appointed temporary receiver.
The failures of Chas. A. Meiss g. Co.,
Julian & Co., and of Fuller, West q Cox, |
we're reported, and stocks were sold out |
for them under the rule. The latter firm |
are paying differences, but we're unable to |
take the stocks they purchased yesterday.
1t is believed that their suspension will
prove temporary.
The name of Lockwood & Co. was used
freely on the street this evening as having
failed and il was finally stated they made
an assignment of their sffiirs 10 Capt Jno
Z. Acker. This house has for years been
one Of the wealthiest in the street and one
Of he most Influential. Their exact posi-
ton on the market is not known, although
they were credited with holding large
amounts of 2. Mail, NJ. S. & N. W and
St. Paul. Ga the other hand it is said
hey have been short of New York Cen
raj for the past twelve months.
The money market was very unsettled !
and irregular most of the day, with trans.
actions at per cent, gold, with to l
per cent. per day for turning low priced
ItoCks, and l3@ per cent. for Carrying
New York Central till tomorrow. In the
afternoon there was a decided let up in
money, and rates for call loans finally fell |
o per cent. Discount operations out of
he question entirely. ID
Sterling nominal at per cent on the
street. Gold 13O@l32. The range at the
National Exchange is 1909 up to 1873 and
Town to 13l, closing at 1919. Govern
nents heavy and lover. The Assistant
Treasurer accepted bids of three millions
1t 1l5@1l6. Total offerings S8.654,05O.
The closing rate for coupons was 81.
An injunction has been Issued by Judge
Clark in the case of the Erie Railroad
Company VS. the Union Bank and others,
the defendant from selling or
lisposiDg of certain stock on the Cleveland
md Pittsburg or T. W. q W. roads.
DR.. Simmonds waited on Secretary Fish
o-dsy, and was assured that every fscil.
ty 10 the power Of the government would
De promptly granted to gain fall and am
pie redress for all damage he sustained in
Cuba.
The Commercial says that the steamship
Alabama went so sea on Sunday, with 200
volunteers for Cuba.
The steamer Nebraska, from Liverpool,
arrived TO day.
Geo. Peabody sailed for Europe to day.