The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-09-28
Tie Meeting In the Gold Room.

There was q rush TO the Gold Room at ten O'Clock,
for at that hour the members OF the institution held
meeting to consider what course should be pur-
sued TO hasten the settlement OF Thursdays and
Fridays business. Had the gates OF paradise been
thrown open to the eager throng the plunge for
places could not have been more determined. The
fures reyeled with delight for music was at hand.
Upon being called to order the following circular
was read by the President
NEW YORK GOLD EXCHANGE BOARD
Sept. q, 1859.
DEAR sIRs-I hand you enclosed your corrected
statement. The following statements OF dealers
have been rejected from the movement for failure to
comply with the rules:-Aloert Speyers, Dornin j.
Babcock, Galway, Hunter & Co., William BeGen &c
Co., Zerega Graves, Chase, Mcclure 81 Co., T. H..
Williams, Jr. Il Co., Charles W. Keep Co.. James
Your balances must be made. good by twelv Q
e Ip be- ead as e5 n2 FOR o at
clearing. You viii be Immediately informed OF any
fully, II. NJ. BENEDICT, President.
Upon the conclusion OF the reading of the above
MIR. Brown, Of the firm Of james Brown & Co.. made
O statement to the effect that acting under tho
advice Of friends, his firm had determined not to
send any statement to the Cold Exchange Bank, but
had adjusted all their accounts with brokers them
selves without the Interpolation Of the bank. He
stigmatlzed the statement in President Benedicts
letter as far as regarded his firm as gross mac
curacy.
the following report was read
The committee appointed at meeting az the New
York Gold Exchange Bank on Saturday afternoon,
September 25 1909 to inquire into the affairs Of said
bank, report that they have been far able to SIM
pity the statements that the hereinafter mentioned
names these names are given above here.-ED.
HERALD are the only ones that, In their opinion
Should be stricken ont accordance with the above
Tie statements OF dealers have been already pre-
pared and the committee trust that all VIII be ena-
bed TO respond to the amendments promptly by
twelve O'Clock NJ. The machinery OF the bank ap-
pears to be again In motion, and the committee hope
mat itWi hereafter be able to complete clearances
a. usual In closing the report the committee desire
to testify to the valuable AID rendered by the officers
ana dreolors OF the bank, especially Mr. ii. O. Tanner
ii. W. GRAY. ~. MILLlKEN.
4. /; EDWARDS; X. z. LoUNsBERRY.
With the above report the following resolutions
were also submitted and read
1he directors Of the Gold Exchange Bank together
with tue committee appointed by the members Of
the uoid Exchange to examine the state OF the New
YORK God Exchange Bank, would respectfully
Gons:-
pSsa s Hh od oil d s ad e. and Of gd 6 be
hscange BE- kept open for tho purpose Of borrowing and
Iosolve That all transaction made on Friday, September
~ DO cleared through the Cold Exchange tomorrow, Sep
tsnbe 49, ut Fixed rate and the difference be settled by tie
dealers among themselves.
II. M. BENEDICT !
II. UNDERHlLL, n,roo,or, c.,,
JOHN $. L0NZADE, T DnHSo,Vrs S 1onL
CHAS. GREEvE, |AVh"nse DanS'
ii. w. GRAY,
II. =. LOuNSBERRY, oo,, poov.
X, w. MARTIN, JR., Comm,tton.
D. MlLLIKEN, N'A"l'''0S
X. L, EDWARDS,
Alter tho reading OF the report Of the Joint com.
mttees above given, containing the names Of those
whose statements had been thrown out by the Clear
Ing House, Mr. Brown moved that 1t be not accepted,
as oelns inaccurate In his case 1t might 30 so in
O.aels he aenouncea the late bull clique As set
financial ma to
Bank with beng In COLLISION with them Having
repeated his assertion that he had not sent in any
statement TO the bank ho was contradictad By a
broker who stated he had seen 1t. The Vice presi.
dent Of the board here counselled camness ana
moderation in bearing and language and
tho exercise OF patience ANA generous
consideration among dealers IN tho present
Crisis with view to ITS speedy dispersion
AHes somo (urther discussion. In the course OF