The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1869-09-25
se8 TOrk cod ana stoeR aarAet,

p 1elegraph.l NEW TpHK. Sept. "a.
.,e ee eeS.clLement growing ont or the gold
sPecgllallon resulted, this forenoon, IN an
oi4le panic A. 9;l5 this morning I47L
J Mas ~ Tor gold, and quickly the price ad-
$500 1891 ~ -. ~ the opening OF the Gold
asked, and the Bulls oferod ~ faase ~. ~
I Elements with Shorts on that basis. Fe,y
I however, accepted the overture. belne+ ~,
be done at Washington TO relieve INC ui,,r-
/ ket The anxiety TOR lews from that quar-
ter was intense, and the hope that the
Treasury might interfere was stremRthon-
ed by the fact that numerous and vorv
urgent remOnHtrances were made to the
President and Secretary OF the Treasury
by parties who, there was reason TO expect.
would nave influence with the adminIas
tration. But not word came from the
waiting, tie Bulls we're carrying mp the
prce BY rapid Jumps 10 i0Z5z. Near noon
the s1orts' snrrenderlng al hoRe, began
70 accept the oilers OF tlements
and some operators most hourly
snort compounded on the basis d
the seen etary of the Treasury 10 sell To-
morrow 81 .OlOoOO Of gold and purchase an
equal amount Of bonds The order, how
compelled n settlement at about l5J, ana
the main operations Of The bulls having
been consunlmaied, there was Sudden
; pectatiOns, the speculation eliminated
without any effort 20 compel tue payment
| Of extrortiin airy rates for borrowing. ON
the contrary, While the price was being
carried up TO over 100, the Bulls were orr
/ lug nom - TO per cent. per day Tor hay
/ Ing their gold carried. According 20 cor
rect report, the Bun clique claims 10 have
made eleven millions out OF their opera
! tons; and the losses on the other side must
/ be equal. one prominent gOlc broker, Mr.
I A. q. Spey ers, who was conspicuous IA s.
I moTning Tor bidding lbg for one million
| l85, had failed 10 take up the gold, md IN
defence maize "a statement IA the Gold
ROOM this afternoon % the effect that tie
/ gold he bought yesterdsy, was for Mr. w.
Belden, and his bids for golq at 100 to-day,
1 were ou account OF Jas. Fisk, jr.. and that
I his inability 10 deliver &c arose nom both
parties not having given him any mar4tn.
/ he did not explain why he bid 100 when
I gold could hRVs been bought at l35. Mr.
/ spayers' conduct ia other respects during
| me day. was such a. 10 suggest the
idea that ne was nnder some hallu-
oinatiOn, but q report ~ current
on the Bteeet that he had been placed b
the car q OF his friends, does not appear TO
be correct, 2 he enormous TRANSACTIONS ia
the Gold Room have y oduced complete
blank in business. In the Cold EEohange
BsnK 10 has been Impossible 10 effect hll
the cIearances within the usual hOurs, aud
the result has been that brokers are uu-
able to make settlements Of their accounts
and several firms have been forced into
temporary suspense. with serious embnr-
firms are pfaced ia the position Of saving
thefr margins locked up in the 60id iI
change Bank, and being unable 70 get
Ia cir in DIS, are unable TO make their uc-
counts good with their bank, and therefore
cannot give their checks AZ settlement OF
The COMMERCIAL says: Amoug these are
"A. q. Speyers, Balden a. Co. II. III. VIII
liamg, Jr., ooldmages Hauler q Coz Chas.
Heath q CO.: the two latter firms assure
their creditors of. their entire ability 20
s sla ~ s, ~ ~ $500 ~ tbeiT funs he te
complexion OF the gold clearaneea, mud
there y apparently g good probablltg
that few OF the other names mentioned
will prove 70 be permanent failures.
Tnehrpf egs says the closing Ofthe day-.the
most eVentiul one in the history Of Wal
Street-wns comparatively calm, although
in all directions were gathered small
croRds OF brokers and speeuietorsl talk
IL Is stated officially that the Gold Xxx
change Ranir viii probably be able 10
make their settlements by or O'Clock
will nsge 4 settlement with the street.
Some, however, may not be able 20
strai ghten out their affairs before eto.rnor-
/ street la relaIOn 90 large failures, but
/ should be received with caution, as oil IN
the 9old exchange Bank, presenting
/ Wednesday, business. amounted - $50
45z,40J, but 20 days transaeii0ns must have
/ largely exceeded That amount.
1he treasury announcement y as fol-
NEW YORK, septefnber q. 1850.
EoTIcE Tine Government reserves the
/ right 70 accept the bids made AZ y O'Clock
| Tor gold Or bonds, IA It's discretion.
| BY direction of the Hon. Secretary OF
fsignedf DAs'L BUTrERFIELD,
/ Assistant Ireaauror.
aoLD-Was neglected. during the after
/ nooa, the price ranging 1910 l85 until late
the rumor that a foreign banking house
/ IS Officially contradlcted.
The rates paid lQr carrying were l-12 TO
per cont. during the morning, aud "A per
| cent. Ia the afternoon, though some looms
| were made fat.
since TIE above was written. gold ad-
| vanced to 81 80, az which % closed. Fall
ures and reports Of failures have produced
an unsettled feeling in the money market,
and the improvement which followed The
break IN gold has not since been maintain
ed. The minimum rate Is seven per cent.
for gold, and 400 Is paid for carrying
stocks. Foreign Exchanges were decided
Bankers sterling Bills 7N9B per cent, with
more business. Ihe panic IA gold was at-
tended with q decline In Governments,
ranging from y 10 70 per cent
A. the second ean the treasury order
tended by an advance Of about per cent,
and after the cali per cent further. The
market fell of somewhat hefOre close, aud
0ovEnNMrrTs Coupons, 81, Iz0aI2OX;
do. '62. l291zgl2JH; do - l10M@l2is 90.
,55, l295z9lzii %; new, ll99ll9At do; %
l99aIlQ914; DO. '9s, ll99u9A; 1906 1921
The latest Tribune money article aaygs
at i've this afternoon the Gold Exchanao
Bank was able 10 make payments, aud
from appearances the houses vino were
unable TO respond 70 their account to-day,
from the block in business. will be in
funds 10 meet their checks at the BiBarl ag
House Tomorrow The article says the
cuimi natiou of the Excitement in the Gold
Room cauGed considerable purchases OF
stocks 70 be made for an advance, and &C
the close OF business the market Was
strong and excited az an advance Of i05
per cent from the lowest quotations % the