New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-10-08
W4LL-STREET.

TIE GOLD EXCHANGE BANK.
The Corbin- Fisk imbroglio attracted n large
share the attention OF rumOr monges yesterday and
10 story was too impossible 10 find eager listeners, and
least few believers. Then there were few more
ridiculous rumors about tho Treasury Department and
the Administration but beyond there little
or nothing The Lake Shore and Michigan Southern
directors were in session nearly all day, and II said
considered proposition 10 issue 100000 seven per cent
sinking Fund Conyertible bonds 10 meet .no
Mt not ascertained meeting or the creditors OF
Lockwood x Co also held but In this In the
other the proceedings private ana nothing definite
MEETING or TIE GOLD EXCHANGE.
An executive session of the Gold Exchange
held at yesterday Townsend Cox esd, PIesl.
dent presiding, Mr.. Cox explained that the meeting
Committee Of Nine FOR the establishment OF Clearing
House. under the sole control OF the Gold Exchange
The report OF the Committee has already been published
IN THE TRIBUkEJ Before proceeding 70 business MI
Colgate objected to the presence Of OF attorney
with the occupants OF the galleries were requested TO
withdraw Delinquent members we're also requested to
leave the The Secretary then read the report
when MIR Bale moved It's adoption and Mr.. Colgate pro.
posed be land the table and the Committee DIS
ing resolutions. Mr. J. f. Undorhll said he had been
requested by the directors OF the Gold Exchange Bank
Inform the Board that they had ascertaincd through
the fundamentally OF competent hcconntants that
the Bank was In perfectly solvent condition ana that
business with unimpaired capital In the name OF the
Bank he asked that the board defer the consideration
the end Of which time the Bank could doubtless resume
He thought that the faithful services Of the Bank 10 the
ton If the Board desired 1t, the directors would com
pleely reOrganiZe the Bank, with pew officers and new
directors and abolish the banking department, combining
the businesses OF tho Bank exclusively TO clearing the
Transactions OF the Gold Exchange should the delay be
granted the directors wOuld satisfy the Board that
their lay the continuance OF the Bank
Mr. Robert Bale Thought that the request OF Bank
should be granted Mr. Hodgna energetically remarked
that since the Bank had failed ana left the Board III the
iurch it should up Mr. Bale denied that the
Bark had failed Mr.. Colgate here renewed his motion
lay the report the table. while Mr. Burns moved
that It be laid over until Thursday at IL M Al TINS point
there was considerable excitement and the anxiety Of
dozen gentlemen TO speak at once interrupted
the meeting for several minutes Mr. hodgkns sad That
II Mr. Burnss motion prevailed IT would simply have the
effect OF Keeping the natter open ior another week Al
been known throughout opponent OF the Bank he
did consider the request Of the Directors for delay
unreasonable one Members had Deen aOe TO 40 the
own clearing since the Bank was closed, and he did
not why they could not continue to DO so Tor week
longer. He. for one, was willing 70 grant INC deay ana
H. at its expiration, the Bank would agree 10 ABIDE by
the terms which the Cold Exchange In position 10
motion for postponement until Thursday was carried
the Board that legal measures should be taken To remove
the nunctons hamperng not only the Board ITSELF
9qt majority Of N s% Gp Sc aes Sss the desire
of the brokers TO BIO freed from tho legal
SSS said EnfR the Eoara hsS it's a0T rules
the government OF Its own members ana
even by Supreme Court Judge Mr.. Cox replied that
the egaty Of the thing confessed all sides, but
of the Board had already engaged Mr.. Clarence A.
Seward counsel and had paid him retainer OF $3.50
priaed to pay legal charges, TO which Mr. Cox replied
that when the officers wanted money they would ask an
appropriation The rest OF the session was rather more
stormy, il possible than ordinary Gold Room meet
ing tMr Hutchinson having moved that all delinquent
members be requested 10 refrain from coming INTO the
room TO deal with members in good standing, general
debate in which IL was stated that many men were
in suspension simply because their money was locked up
I'm the Gold Exchange Bank Thus, IL was argued
the virtual expulsion Of these men who had suspended
through fault OF their own would DC an obvious mus
tice. The radical members proposed that Inst OF
all defauters be prepared and posted IN conspicuous
reconsdered rescnded, the final decision being to
post a notice the blackboard requesting al members
who had settle their contracts Of Friday the 2th
of September and the days Immediately preceding IL, To
refrain from entering the Board The whole debate arose
a member, even though his expulsion i demanded by
the rules During the discussion Mr. Colgate suggested
rented others pro e the effect Of the nunctons would
be nulifcd, when another member pithlly remarked,
The new set would be buried with HJHhcuoHs De'oro
night"
THE STOCK EXCHANGE TO CONTEST THE IN
FUNCTIONS.
The Governing Committee of the New York
Stock Exchange Officially informed the Board, yesterday,
that they intended To contest the validity ol the uc
lions restraining the Board from executing s rules rela
joined were requested prepare aidavits ana hand
them the President, that the legal adviser OF me
Board could proceed IN the matter rs rapidly AZ possible
1t understood that tine Hon. William f. EYarts has
been retained as counsel FOR the Board.
IN THE COURTS.
In the Supreme Court Chambers, before Mr.
Justice Cardolo the case OF Thomas Denny, Jr. agt
Hiram X. Daer ct al, came up FOR argument The pdl-
TN in the complaint alleges that he borrowed OF Datsr
TimpsOn $35OOO gold, putting up $4,000 currency; that
next day Dater a Tmpson called for mere margin OF
deposit a GO alleging that gold would reach that that
plaintiff surprising that Woodward was tho principal,
settled AT 1885, paying $4,000 that Smith Gould Marlin
the real principals of Dater d Timpson, ana the
bona de price G0 hut that gold was put up ny
the Vaccinations Of the defendants and others III eeal
combinations on this complaint an injunction was
granted restraining Dater TmpsOn from paying over
and Smith, Gould, Martin Company, from reeelVlhg
the $4,000. The up yesterday on motion 10
dissolve the injunction the plaintiffs own papers, on
the ground that II the plaintiffs statements he True
they show nothing requiring tho Intervention Oh tho
equity powers OF the Court.
Dudley Held Appeared for tho defendants. bnb htf