The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-10-06

General Quiet Preyailins-ATangements
for New Clearing House-9aic OF
Government Uoll-Iha Fisk At
taehmenis and Appraisal Of
the 0pe House.

Affairs IN wal street Yesterday were very quiet
Tho excitement has wholly passed away and the
regular business Of the Exchange is going on as
regularly as If no crisis had occurred The danger
Is regarded as being entirely over, aud the only mat
ers OF interest Likely to ranspire outside OF nurres
in the market win be the ligations soon to come or
between the bulls and tic bears the panic trans
actions.
THE GoIn ROOM
opened IN executive session AZ ten A. NJ for the pur-
pose Of receiving the report Of tho committee Of
nine appointed to draft a plan for new Clearing
House. The following is the report
your committee appointed TO prepare plan for
clearing contracts IN gold recommend:-That
clearing department OF the New York Gold Exchange
be organized under the sole control aud manage
ment OF the Exchanges and that such department.
be SIMPLY clerical In It's duties ana subject 10 the
following rules and feguatons:-
!. The Gold EXCHANGE shan elect and constitute
thirteen OF Its members Board Of Directors for the
Clearing Department, ana the Board Of Directors
shall appoint three OF IT'S members an executive
committee, to serve a. the time OF clearing, no others
being allowed access TO the papers OF the clearing
department.
q The Board OF Directors shall appoint a manager
or the clearing department, subject to The approval
% tie New York Gold Exchange, and shall nave
Office furniture and stationery.
g. rhe Farmers Loan ana trust Company shall DO
designated and used as the place OF deposit or
balances for clearing purposes.
A. Certified cheeks payable to the order of the
Farmers Loan and Trust Company for all balances
pany such statements.
8. All statements shall be presented at the clear
ance department at or before hafpast twelve
O'Clock ?. NJ. Any member violating this rule shah
be lined flty dollars.
o. Upon the failure Of am party to make perfect
clearing 1t shall be the duty OF he manager 70 notify
every party interested therein as possible,
ana the dealers affected thereby shall be required TO
furnish supplementary statements TO perfect their
clearing on or before half-past one O'Clock:
7. The Farmers Loan and Trust Company shall
provide the clearing department with books OF
checks properly numbered, and 1t shall be the duty
| OF the manager to have checks filed for balances
| due dealers 10 their order which checks he shall
| deliver in person TO th1 Farmers Loan and Trust
| balance sheet OF the Clearing department, and all
| certified checks received for balances due from
| dealers upon their statements whereupon the Farm
4 mers' Loan and Trust Company shal be authorized
| 70 ray dealers all balances due 10 them
s, In case OF failure to make general clearing by
haf past two O'Clock, The certified checks deposited
/ By dealers for balances Gue upon the statements
| shall be Immediately returned 10 them.
/ 9. only members or the New York Gold Exchange
shall be allowed the uso o. tbs clearing department
! 10. The tickets and statements FOR clearing shall
be similar to those heretofore used, and the charge
for clearing shall be one dollar per 100000, and any
surplus above expenses shan be subject TO orders Of
the Exchange,
H. That The Board 81 Directors shall have power
to adopt such rules and regulations in addition 10
those herein provided, as may be found necessary to
insure the success OF The system OF clearing.
II. Resolved, That this committee recommend
that the Exchange proceed as SON as possible to
put into effect these recommendations.
Unanimously adopted and respectfully submitted.
HENRY CAMBL0S. Chairman.
The report was accepted ordered TO be printed for
the use OF the members ana made the special order
for next Thursday at twelve O'Clock.
NJuNcrIoSs WERE PRESENTED
from the Supreme Court at the suit of Henry X.
Enos against Townsend Cox ct al, restraining 'fhe
New YORK Gold Exchange from buying OF selling
any gold on account OF any member of the New
York Cold Exchange under any bylaw thereof
where the ground of such purchase or sale is the
failure OF any member 10 perform contracts entered
into by him on the Gath OF September, and refrain
f,om expelling susDending any such member
from the Gold Exchange
After suggestions by the President OF the Cod
Board that transactions Oe conducted in the centre
OF the room according the rules instead OF IN the
corner OF the apartment, as has been done for tie
last week. the regular business was resumed. The
price for gold opened at rs q and rapidly advanced
to 13osl but afterwards reacted to 1898, and finally
recovered to 181l4. The rise was owing to the ad-
vance in exchange and disposition among some
Of The bears to cover their snort contracts The
f,Ifnt tha T1rtn