The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1869-09-25
The price at 2 o'clock Is 1856 With the

that something might be done ut
Washington 10 relieve the market. The
anxiety for news from that quarter was
intense and the hope that the Treasury
might Interfere was strengthened by
the fact that numerous and very urgent
remonstrances were made to the P resi-
dent and Secretary OF Treasury BY
parties who, there was reason 10 expect,
would have influence with the Ad%
mlnlstraLlon, but not O word came
from the Government, and while the
bears were waiting the bulls were car.
rying up the price by rapid jumps 10
1921. Near noon the shorts surrender.
Ing all hope began TO accept the offers
Of settlement and some OF the operators
most heavily short compromised on q
basis l4sal5O.
About noon an order came from the
Secretary OF the Treasury 10 sell to-
morrow four millions OF gold and pur-
chase an equal amount OF bonds. The
order, however, did not come until the
bulls had compelled a settlement at
about $50, and the main operations OF
the bulls having been consummated,
there was sudden decline to 1874, By
1880 p. NJ contrary to expectations, the
speculation eliminated without any
effort to compel the payment OF extra
ordinary rates for borrowing. On the
contrary, while the price was being
carried up 10 over 100, the bulls were
offering from 1872 to per cent. per day
for having heirgold carried. According
to current report the bull clique claim to
have made eleven millions out OF their
operations, and the losses on the other
ada ha
gold broker, Mr.. A. G. Speyers, who
was conspicuous this morning for bid.
ding 100 for one million Of gold when
the price was 1856, has failed TO take up
the gold, and In defence made a
statement In the gold room this
afternoon to the effect that the gold
he bought yesterday was for Mr.. W.
Belden, and his bids for gold at 100
to-day were on account of James
Fisk, Jr., aud that his inability to
deliver, arose from both parties not
having given him any margin. He
did not however, explain, why he bid
lGO when gold could have been bought
at 1856. Mr.. Sreyer's conduct In other
respects during the day, was such as
to suggest the idea that he was under
some hallucination, but a report cur
rent on the street that he had been
placed In the care OF his friends, does
not appear TO have been correct.
The enormous transactions In the
Gold Room have produced a complete
block in business In the Gold Exchange
Bank. II has been lmpossIbleto effect
all the clearances within the usual hours
and the result has been that the bro
kers have been unable to make settle
ment Of their accounts, and several
firms haye been forced into tempora-
ry suspension, with serious embarrass.
ment TO the whole market. Several
firms thus placed In the position
OF having their margins locked up In
the Gold Exchange Bank, and being
unable to got their funds, are unable 10
make their accounts good with their
bank, and these cannot give their
checks In settlement of their claims.
The Commercial says among the firms
prominently mentioned az effected
frem this course, are A. G. Speyers,
Belden & Co., p. Il. William, Jr., Col
way, Hunter q Co., Chas. Mcclure &
Co., s. B. Wallan, Wm. Heath & 90.
The two latter firms assure their credit
tors OF their entire ability to make all
their claims good as soon as they are
enabled 10 gel possession OF their funds
by the completion Of the gold clear
auces, and there Is apparently good
probability that few Of the other
names mentioned will prove to be per.
manent failures.
The Express says the closing OF the day
which was the most eventiul one In the
history Of Wall street, was compara-
lively calm, although In all directions
were gathered small crowds OF brokers
and speculRtors talking over and dis
cussing the exciting scenes. tits stated
officially that the gold exchange bank
would probably be able to make the
settlement by 8 or o'clock this even
Ing, when the leading brokers will
make the settlements with the Street.
Some, however, may not be able 10
straighten out their affairs before to,
morrow. Many OF the reports current
on the streets In regard tothe large fall
ures, therefore should be received with
caution, as all Indications point 10 a
satisfactory settlement Tomorrow,
Yesterday the clearipgs Of the gold ex-
change bank presenting Wednesd avs
business amounted TO 1924 $50 900, but
to.days transactions must have largely
NNSSSNNA hbhb 4u6
announcement Ia as follows:
NEW YORK, Sept. q, 1869.
NoTloE, The Government reserves
The right TO accept all blda made at IL
tomorrow, even in four millions for
gold or bonds In Its discretion, By the
direction Of the honorable Secaetary of
The Treasurer. 1
[Signedl DANIEL BUrTRRPIRLD.
Assistant Treasurer.
Gold was neglected during the after.
noon the price ranging from 1888 10 1856
until late in tue day when 1t fell 10
1921 The closing price. The rumor
that u foreign banking house sold i've
millions to-day for the government 10
officially cOntradicted. Rates paid for
carrying l.32 TO per cent; during the
morning Y per cent, In the afternoon
though some loans made fiat. Since
the above was written gold advanced
10 1873 at which It closed. Failures 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
maintained. The minimum rate 10 z
per cent gold and kah Is very general
ly paid for carrying.
Stocks and foreign exchanges were
decidedly better on the decline In gold.
Prime bankers sterllng bills 107 I<alOS.
with more business. The panic In gold
was attended with decline on Gov.
ernments, ranging from x 10 ~ per
cent.
GOVERNMENT STOCKS,
Al the second call tho treasury order
to buy four millions bonds TO- o-uiorroW,
was attended by an advance OF about /
per cent, and after the call the adj
vance was carried l per cent. fur-
ther,, but fell of somewhat before