The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-09-28


submitted providing for the appointment OF COM
mttee OF nine whose duty it should be to examine
into the affairs of the Gold Exchange Bank and OF
the members OF the board so far as they related TO
Fridays transactions, and report what action could
be had by the board TO bring 10 speedy conclusion
The present condition Of Affairs and secure speedy
resumption OF business and clear understanding OF
the situation. Itwas also provided that six at least
OF that committee ehould net be directors or the
Gold Exchange Bank. Tho committee was further
instructed TO report OF halfpast twelve O'Clock, ana
the board took q recess until hafpast eleven.
During the foregoing the excitement was tremen.
dous Some gentlemen were almost frantic their
yells being any thing but harmonious. Cries OF dis
appreciation rang through the building, and though
the day was not unusually warm rivuiets Of per-
spiration stole down many an excited face.
Throughout the meeting confusion was rampant,
and the general appearance OF the place was not
unlike what gentle mind might imagine Of certain
regions which certainly cannot be located far from
the COLO Room.
FRESH FJEL FOR TIE FLAME.
strengthened by lunch, and urged on by the
excitement that prevailed, the meeting resumed
operations towards one O'Clock. The confusion
which characterized the proceedings Of the morning
were vigorously renewed. The committee OF
nine stated that they had rot the Gold
Exchange Bank 10 postpone the declaration
OF any moro de'aulters until two p. NJ. They like
wise suggested that committee OF four he APP
pointed to wait upon the Bank or New York and see
If it would assist in clearing the gold operations OF
Friday since the Gold Exchange had not finished
Thursdays operations. The feeling that OF H.
tense excitement ana IL s needless to state that the
Gold Exchange Bank was not comp!imented.
THE REPORT or THg coMMuTEE.
The day dragged heavily. Nobody seemed TO
know which way to turn In the street, While many
appeared wrapt in thought, gazing vaoantly on the
pavements aud wondering how they stood, whether
upside down or not owing to the fact that q
number of persons were stationary and medttatlve,
the fruit men ia the street were largely patronzed
and thesprlce Of grapes rose accordingly, whole
pears being occasionally swallowed with the stem.
Many persons knew not What TO 10 with themselves,
and did nothing.
The work OF arranging the accounts OF the sew
eral firms here did not appear TO advance with any
degree of satisfaction. At hafpast two the Special
Committee or Nine returned to the Gold Board ana
reported
Fsrst-That 1t is inexpedient to interfere with the
gold clcarngs OF THURSDAYS business, but that the
same be cleared up by the Gold Exchange Bank as
Isecona-That this committee recommend to men,
bers OF this board to settle as far as possible all OF
Fridays contracts ex Clearing lionse as 1t is uncer-
tain when Thursdays business Will be finished,
ThiT1-That the committee recommend to the
board the appointment Of committee TO confer with
the Bank flew York 10 ascertain whether the said
bank would be willing 10 act us clearing house for
T. A. H0YT, $500 ~ GEOEGE pHIpps.
/. g EATIIN.
Pending the consideration OF this report the
question has been raised respecting the standing Of
William Bolden Co., whose representative in the
room contended that they had furnished proper
and correct statement or their dealings TO the bank,
which, however, they would not pass, but which
William Beldeu Co. insisted should be acted upon.
II also stated that the difference in the way OF
the passage OF the statement was quite inconsder-
able, whereupon offers were freely made on every
side TO subscribe the amount required. Melton was
subsequently made that committee be appointed
TO wait on the officers OF the Gold Exchange Bank
ana ask Tor the first statement of William Beden &
Co., or certified copy OF the same, in order that it
might be read TO the Gold EXchange no director OF
the Gold ESclange Bauk to I've appointed on such
committee. The following gentlemen were there
upon apponied:-C. w. Keep, II. Kempner, William
Foster and Joseph Tuek, who immediately retired.
While this committed was out printed notice was
read in behalf OF ". +. Lvermore Co.. TO the enect
that any and all the transactions OF theirs, or IN
Which their name appeared, were in behalf Of
William Heath; Smith, Could, Martin & Co. and
James Fisk, Jr and that any Closing or settlement
made By the board of such transactions must be for
the account OF those gentlemen.
A motion was made that If the Clearing
House does not complete lis work OF settle
ment tonight the members OF the board as
sumo the personal labor OF adjusting each
Its own accounts; but, On the inquiry, where would
they get the gold from TO settle with: the motion
was Withdrawn. The special committee of four
having now returned reported hat the Gold
Exchange Bank stated that there was not time TO
look for Mr.. Beldens statement; that, speaking
from recollection at the time the statement was sent
ill., there were more tickets IN the Clearing House
with Messrs. Belden & Co.'s name thereto then that
statement called for. THIS provoked considerable
discussion, which was joined in by several gentle
men, without, however, eicltmg any nforma Ion OF
value in the matter, and ended with the committee
being further instructed TO return 20 the bank aud
MAKE another attempt to get Mr.. Beden's state.
ment ifnecossaryt to lend Their individual assistance
towards obtaining it for the board.
a resolution was introduced and lost to the pur-
port that noncompliance with tie requision Of the
Gold Exchange as contained in the circular issued
yesterday morning. in so far il enjoned parties
to take up MIR. Bedcn's gold would not operate as
suspension rom the board. Another recess was
then takon
ADJOURNMENT.
There was comparatively small attendance and
little or no excitement when the Gold Board reas-
sembled at three O'Clock. The committee which had
been appointed to ascertain the condition of Belden
Il Co. with the Cold Exchange Bank said they were
unable yet to make any report, as the bank nad not
concluded thursdays business. IL was commended
however, that as every member was numbered In
the accounts OF the bank the committee
should be able to ascertain the account
or Belden Co. by seeing what stood
opposite their number. A motion was then made
TO take recess until four O'Clock. IL was subse-
quently moved, however to adjourn till ten O'CLOCK
this morning. The latter was carried By a vote OF
So to 10, and the meeting accordingly separated
there being just as much business transacted as
when the proceedings Commenced at ten O'clock.
The Eniunctions.
The njunctions from the supreme Court, Judge
Ccrke presiding were numerous and were well
calculated, If possible torender the muddle more