Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1869-09-26
AFTER THE BATTLE.
The Gold Panic StOcks.--The Gold Board
Adjourned.

say they cannot make deliveries until
Monday. No one knows his position until
he hears from them. The excitement
still prevails, and very little business will
be transacted in gold in consequence OF
the clearing house, which Is sound, but
mixed. They are working hard TO nix
things.
1920 a.m.-Gold, iS2. The following
resolutions have just been carried by the
Gold Room, amidst great excitement: l.
That the Board adjourn until Monday. ?.
That no transactions Of to-day will be
recognized. 3. That a committee of three
be appointed to solicit Butterfield, As
sistsnt Treasurer, to postpone the sale of
gold until some future day.
By the Western Union Telegraph Line
we have the following fuller dispatch:
NBW YORK, September 25.-The Gold
Room was crowded early this morning,
and at 10 o'lock the Board came to order,
when the following note was received
from the President Of the Gold Exchange
Bank:
1.-The Bank viii not receive any clear
ing statements from dealers to-day. The
statements received yesterday are nearly
all affected by the failures, and it is i'm
possible as yet to learn the balance. Deal
srs must be prepared to take up the tick
cts of those in default which they have
seHt in, as that is the only mode of adjust
ing the movement. The Bank will use
every effort 10 bring accounts to prompt
settlement"
The Board then passed q resolution 10
adjourn till Monday, 10 recognize no
transactions made to-day, and 70 spPoint
q committee Of three 10 " ait upon the As
sistsnt Treasurer and request him to post
pone the sale Of the 81 600 900 Of gold till
Monday, and then adjourned.
There have been no transactions in gold
to-day. The Assistant Treasurer declined
10 accede to the request OF the committee,
but states that no awards for gold Will be
made until the bids are telegraphed
10 Secretary Boutwell,, and that the
purchase OF bonds will not exceed the
sale OF gold. The bank officials are
straightsning out accounts between the
gold brokers and themselves. The clear
ings yesterday, at the Gold Exchange
Bank, aggregated $500, 90, 600.
William Heath & Co. have not failed, as
was reported, but are doing business As
usual.
It is stated that Smith, Gould, Martin
& Co. will settle their accounts and have
a balance Of several millions.
At 2:2O pm. money was almost impossi-
bic TO be had at any price. II was quoted
AT 7 per cent, and II per cent. was freely
paid for turning stocks. The stock mar
ket is duh.
The houses reported yesterday ss hav-
sng suspended are still in the same condi-
zion, and it is rumored that they will not
he able to 90 on.
The Fifth National Bank il in tro uble,
and there has been a run on It all the
morning, and It is said that it will have to
suspend, unless the other banks assist IL.
LATEST.
The day closed quietly In Wall and
Broad streets, and everything now wears
a calmer aspect. The run on the Tenth
National Bank ended about 3:l5 pm; the
bank having met the demands on 1t, and
A. is presumed that it will, on Monday,
cease TO decline the acceptance OF its
checks. The ability of the bank to satisfy
an claims has materially checked the
growing panic. and there is a marked re-
covsry OF confidence in the several de-
partments Of business. it now only re-
mains TO be seen what Monday may bring
forth. From the disclosures Ofthe closely
kept secrets Of the Gold Exchange Bank
the Tenth National Bank''held in deposits
this morning Sl.lOO, 900, and paid out dur
ing the day about 81 ,0OO,0 ,0O6. Str Cslen-
der, Bank Examiner, inspected the oondi-
tion OF the bank to-day and pronounced Il
satisfactory. Many banks were this even
ing throwing out checks on the Gold
Exchange Bank, sDd some banks were
were served with iBjnpctions and legal
notifications against payiag checks paid
into the Gold Exchange Bank yesterday
These checks, however, were certified and
came regularly through the Custom
House this morning, and ofcourse have s.
be recognized. The bids to the Assistant
Treasurer for gold to-day amounted tc
g 81, 500, ranging from Us 10 iS41s. Ih'
Secretary OF the Treasury instructed Gen
Butterheld by telegraphto to limit the pur
chase Of gold to-day to $1,000, 600 unless
the bids should be over l3i, and to relec
al 1927 and 1897. Bids for Government
Bonds to the Sub Treasury to-day
amounted to s. ,46l 900, at li5.IT and l2l5+
Awards were made Of s., 100000 at ISL,
and lIs.Os. A cable dispatch reports thal
large amounts OF gold have been with
drawn from the banks Of England anc
France for shipment to New York.
The general opinion on the street in re
yard To the failures, is that beyond thOs
OF Albert speyer, and Il. Beiden, the,
will be confined principally 10 SINAI
Arms, whose engagements are not larg
enough to cause serious trouble.
The position of the Bell operators s no
regarded with much doubt. 1t Is u
ported on good authority that they eiiec'
ed a settlement before noon yesterday o
80. .O0O. 900 Of gold at las to $50, the prom
on which should GO far towards oiisettin
the loss they have made on Purchases q
failures, but even their fate must renal
doubtful until the Gold Exchange Ban
has effected its elearanees.
At a meeting held this morning, -
Post reported that it had thrown ont u
teen failures, chiefly among small ass
ers. VIM. Heath a Co. are believed TO
entirely secure.
Money was irregular and unsettled IN
afternoon, owing TO the lock up OF funo
in the Gold Exchange Bank. Call loaI
were made at Z per cent. gold, with con
missions paid for carrying stocks u
Monday, ranging from l@l% per cen
The bank statement is unfavOrsble an
reflects general disarragement of affair
in Wall street. Foreign eXchangeis qui'
but firm atstgs&. Colds quiet and non
insl, the room having been closed all da!
A few street sales we're made at l3Ss9i3
The latest reported figures were lSs]zl
Is4x. Governments DALI and State bonS
peglsetRd.