The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1869-09-27
New YORK.. Scptcmhnr "a

New YORK, September "a, 1869.
Gold opeued tn morning n 80, declined
to 14Sk. from WITCH point Is rapidly adj
vanced TO 1G2H. During This interval the
gold room was the scene Of unparalleled
CONSERVATION among the spectators. At
II o'clock the allowing notice was pub
liShed on the bulletin board II nc entrance
to Assistant Treasurer Butte; ,yld's office /:
"UNITED STATES :EAsURY,}
NEW YORK, September -, 1863.
Notice.-The Treasury MI sell at u
o'clock noon tomorrow Icur millions gold,
and buy four millions bonds.
[Si.ncd] "DANIEL BUTTEaFIELD,
Assistant Treasurer"
When this news was received mt the gold
room there was sudden break in the price
to l40, and it subsequently sold down to 1873,
when Il most terrific panic occurred, and
wild confusion rcigned throughout the
building and its surroundings. Various ru-
morS were atloat in regard to the cause Of
the sudden movement this morning. one
OF these is to the effect that it was yesterday
aSCertained that two or three members Of
the combination, who have been working
for IL rise since the price was 1872 to 135, re-
Gently sold their gold in unusually large
amounts on speculative account, hoping
that their detection would defeat the pur-
that a heavy decline would follow. In the
gold room at o'clock it was reported that
some twelve or fifteen firms had failed.
\ very remarkable transaction occurred
in the gold room during the panic. A pro-
minent broker bid 100 for 81 900, 900 when
sales on the opposite side of the room were
being rapidly made mt 135 and 1876.
The one-milion bid was supplied at 100,
and we learn that five millions, in lots Of one
million, sold at those figures, and yet the
regular market price at that time WAS I'M
dcrstood mt the other end Of the room to be
1344 to 135. The money market has been
extremely tight to-day, some parties being
compelled to pay as high as u to 4 of l u
cent. % day. The Government bond mar
ket early in the day was weak and dull, but
after the announcement that the Treasury
would buy four millions 5-20's tomorrow
there was Il sharp advance OF l to u cent.
on the entire list.
The stock market opened much below the
Closing rates Of last evening, and at one
time there were indications Of continue
ton of the panic which occurred ycStcr-
Gav butas soon us the gold bubble burst 4
better feeling prevailed, and prices adj
yanccd from to ) per cent. Later i'll the
day prices again declined, and there was
great anxiety to sell OH every hand. The
market closed steady with an upward ten
dency, vet was somewhat unsettled. Since
the elimination Of the gold bubble this
morning Wall and Broad streets have
tecmcd with reports Of failures, and free use
has been made Of the names Of some OF the
leading houses in the street.
The excitement around and about the
cold room and the Stock Exchange has
been intense and unparalleled throughout
the most of the day. AS it is impossible TO
ascertain correctly what houses have really
failed. we forbcar to give the names OF such
firms as have been reported as failed. a.
very large crowd is now gathered in front OF
a number of houses which have been pro-
mincnt in the gold combinations, and III or
der to preserve the peace the services Of the
police have been called into use.
The scenes Of to-day have far exceeded III
wild excitement anything that has ever been
seen in the history of the gold room ana
Stock Exchange.
LEWIS DANIEL Il Co.,
Bankers, No. II Wall street.