The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-10-02

| full sacrifices they made In their almost frantic
| endeavors to keep themselves nom falling their
condition, It Is feared, is really worse than has
| been or can be now imagined. They are said TO
have paid s., 100000 in gold differences alone and
they were '.buls in Pacific Mail stock at from 40
down to 90. The report current yesterday that the
| Lake Shore road was indebted largely TO the firm
proves incorrect On the contrary IL turns out that
ST. 900 600 OF the funds OF the company were In
| the hands OF Lockwood Il Co.
What may be the consequent loss to the Lake
| Shore road Will depend upon the settlement which
| the suspended firm may be able to make. AT pre-
sent 1t is estimated by those most conversant with
the AFFAIRS OF the road that the loss will not exceed
$500, 900, although q rnmor prevailed last evening
that the amount would reach 81, 100000. The CON-
| pany have made provision for the payment OF the
coupons OF the consolidated roads, due October j,
amounting In all to about $26o,ooo ana the Bank OF
| New York is now paying the interest
IL appears that an informal meeting OF the New
York directors was held yesterday, at which 1t was
resolved to propose ana II possible elect Mr.
Bancker to the position OF treasurer OF the COM
pany, but this scheme was defeated by the Western
directors who arrived in town In full force yesterday
morning and streIuousy opposed the proposition
II is reported that the Western gentlemen have
nforma lily rendered their assistance to the firm and
are prepared to advance means to enable Lockwood
q
SMITH, GOULD, MARTIN co.
have as yet made no statement but the examine
Of the ticKets OF brokers dealing with the
pany and which were sent in to the Committee OF
Twenty, shows that that firm had to receive from
twentyeght different brokers s2o,65o 600, and had
to deliver twenty-one brokers 81, 400, 000 The
difference, sl3.150 600, shows the '1ong'' gold OF
that house so far as can DO ascertained without
statement from them.
WILLIAM HEATH 4 co.
adhere to the ofrer made by them on Thursday to
settle tho whole OF their So 600 900 at 1856, and
upon the difference between that and the actual
| figures to pay eighty-three per cent guarall-
| teed by Smith. Gould d Martin, the remain
ing seventeen per cent to be paid as soon as
they obtain their understanding to nearly
| S4oo, oOo-from the Gold Exchange Bank. Their
carrying out of this proposal Is dependent upon
two-thirds, in amount, Of their creditors accepting
IL; but creditors covering 81, 000 900 OF con-
tracts had accepted the proposition last night 1t is
probable that their plan OF settlement Will be
adopted. They state that If 1t is accepted they can
get check at once from Smith, Gould, Martin d
co. for their differences.
THE GOLD EXCHANGE BANK
remains IN the hands OF the receiver, Mr.. Brown,
and Its AFFAIRS being arranged as rapidly as pos
sble. the currency of the bank-amounting to
about $780, oOo-has been deposited with the Broad.
way Bank, ana its gold-amounng to about
5000 000-in the Sub Treasury The following notices
were yesterday sent by the officers OF the bank to
the Gold Exchange
NEW YORK GOLD EXCHANGE BANK
Oct !, 1859.
SIR am directed to notify every dealer with this
bank to send in to the bank full ana complete
account OF claims OF whatever nature against this
bank, with every item specified to verify those
Claims THIS should be done at once Respectfully,
Late in the day the following additional notice
was sent 70 the dealers with the Gold Exchange
Bank
NEW YORK GOLD EXCHANGE, Oct. l, $780,
Dealers with the Gold Exchange Bank will please
send In at once their statements OF Friday morning.
amended on the basis OF striking out from their
statements the nine names advertised as rejected
The nam es are az follows:-
ALBERT Albert, speyers Chase, Mcclure Co:
Galwey, Hunter Il Co. Chas. W. Keep Il Co.
VIM. Belden Co. Jas. Brown a. Co
CHARLES H. WOOD, Vice President.
The State superintendent Of the Banking Depart
ment Ia understood 70 express the opinion that
when these statements all in the bank will be in
such condition as to be relieved from the receiver
ship.
THE CITY FUNDS.
The following letter from the President Of the
National Broadway Bank explains Itself
NATIONAL BROADWAY BANK,
NEW YORK, Oct. ]. 1869.
To THE EDITOR OF THE HERALD
consider it my duty, as an act of justice, to
rect the statements which have appeared IN the
puoic journals during the last few days that funds
Of the city have been diverted used by the Cnam-
berlain Peter b. Sweeny, to aid the recent opera.
These statements are without the least found alton
in truth. The moneys OF the Corporation have
remained In the custody OF the regular banks of
deposit during the period IN question precisely as
they have through oil the time OF Mr.. sweeny's
administration.
may be permitted to say that this Is a subject in
regard to which there need not and ought not to
DO any misrepresentation, us inquiry in the proper
direction would at all times furnish reliable infor-
nation.
This bank being the bank on which drafts are
made Is ut all times the depository OF the largest
amounts. AS the result or long experience can
state that no person filling the office OF City Cham
berlan has acted with more impartality and pru-
dence In the control OF the city's moneys than the
present incumbent F. A. PALMER, President.
NJUNoTIoNs.
The injunctions OF Walter b. Palmer and OF e. r.
Willard against Townsend Cox ana others came up
IN the Supreme Court before Judge Clerke yester
day, and the argument the orders to show cause
in these cases why the injunctions tying up the
Stock and Gold Boards from settling last weeks
transactions should not be continued over was
adjourned over to Tuesday next Mr.. shcarman for
plaintiff; Mr.. G. A. Seward for defendants.
The injunction against Pohamius Jackson has
been removed, except in the OF o lot Of $780,
600, gold, coming from Lockwood 4 Davenport.
1t was stated among brokers yesterday that the
why the injunctons Of the last few days were
granted was that something OF the kind was neces-
sary to be done In order to let things down easily
The panic In gold Of Friday had caused the failure
OF q large number OF firms to meet their engage
ments, and II the gold which these houses were re-
quired to deliver and receive was thrown into the
market under the rules OF the Gold Exchange an
other panic would follow, owing to the depression In
prices, and not only financial but business interests
would be swamped. Therefore, when the first
effect OF tho panic had been ret IT was deemed
advisable in order to prevent any forced sales being
made, which would throw an indefinite amount OF
gold upon the street. to resort to nunctons for the