The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1869-10-08
NEW YORK
executive Session Of the Gold Room
Committee Instructed 20 BeYise
a Plan for a Clearing HOuss-Fi.
uancI3I Matters Ia Wall Street.

executive Sc8SlOH Oh Inc Goi1 HG0Il
-OOmmlttee Instructed 20 BeYise
q Plan for Clearing H0use-Fi-
nanCIal Matters Ia Wall street.
NEW YORK, October 7.-The re-
demption of 3 per cent. certificates
by the Assistant Treasurer, at this
point, for Septem Der, and thus far IN
October, amounts tc about 81 600, 600.
The Legal Tender reserve has beer
drawn upon for this amount, but it Is
stated that the Secretary may order
the return Of these legal Tenders to
the reserve at any moment.
The Gold Room had an executive
session to consider the report of the
Committee instructed to devise plan
for a Clearing House This report
was published oa Tuesday last. At
the opening Of The session a motion
was made to lay the report on the
table, to which substitute
was then offered and carried to
suspend aetioF on the whol5 subject
for one week. This substitute was car
ried on the strength Of the represen-
tations Of the Gold Exchange Bank.
They were entirely solvent and had
their capital intact; that In a few days
they would be able to resume business,
and then intended to propose an en-
tire reorganization of the Bank with
new Directors and officers, and an en-
tire change of Administrations: that
they were willing, if the Gold Room
so desired, to abandon the bank
ing business, which had always been
Objectionable to members Of the
Board, and confine the business Of
the bank exclusively to clearauces Of
gold for the members of the Room.
A lively discussion followed Oh the
proper method of declaring members
failed or suspended, so as not to inter
fere with the injunctions now Ia force.
It was finally decided that all persons
having unsettled contracts outstand-
ing are requested to refrain from deal
ing in the Room.
The New York Central and Hud-
son River stockholders will vote on
the question of consolidation Novem
Der the 1st. Some of the large hold
ers are already sending in their
proxies to the Committee on Consoli-
dation. Nothing is publicly known
in regard to the terms Of cousolida.
ton.
The Governing Committee of the
New York Stock Exchange notified
that body this morning that they
have resolved to contest the legality
of the various injunctons served or
the Board restraining its officers from
enforcing the rules against its men,
bers.
The creditors of Lockwood & Co.
held meeting to-day at 2 o'clock.
The Directors of the L. S.. & NJ S.
Railroad Company took a recess until
3 o'clock. for the purpose of enabling
part of their members to confer with
the creditors of Lockwood & Co., aud
ascertain, if possible, the extent Of
the loss Of the Company by their
failure. Nothing important occurred
at this informal meeting. and at s
o'clock the Lake Shore Directors re-
sumed their session.
A proposition is before the Board
in substance to issue $1,000, 600, seven
per cent sinking fund, convertible
bonds, to meet tae immediate liabil-
titles of the Company, rore especially
to take up the Wabash stock, falling
due on the 18th inst. The Directors
are still IN session, and nothing fur
ther has transpired in regard to The
financial condition Of the road.