Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1869-09-28
GOLD.
Committee Appointed to Walt on
American Exchange Bank. T
Affairs In Wall Street In Great Con-
fusion.
Names of Members Expelled from
the Gold Beard.
The Gold Operations Of Friday Not
Cleared Yet. g
Injunction by ths Supreme ccurt---
Suspension.


New YORK, September ZT.-At q meet
ing OF the Gold Board this morning, a
Committee was appointed, who waited
on the Gold Room Exchange Bank to as
certain the status of affairs. During the
absence Of the Committee statements were
made by several members present, Of the
financial position of their. different firms,
and the Board voted to make no sales of
gold until after the report OF the Commit
| tee WAS received.
| p. Brown & Co. stated that they have
not failed, but have adjusted all their
balances with other dealers, independent
Of the bank.
Mr. Calender, Examiner Of National
Banks, reports all the national banks of
this city in sound condition. Several In
functions have been issued against the
Gold Exchange Bank, by Judge Clark; /;
also several against wslt street brokers.
Orders Of arrest have been issued against
Jno. Bilder on suit Of Hatch for secreting
his property to defrsud his creditors.
LATER.
Affairs in Wall street are kept 20 great
extent in confusion by the Block In busi-
ness at Gold Exchange Bank, which tenn
porsrily keeps the gold dealers out of
lsrne amounts OF money, and moreover
leaves in doubt the standing OF numerous
! Arms, with the natural result of extreme
caution and uneasiness in every branch
Of business. The Gold Exchange Bank Is
making clearsnees on the business Of
Thursday, buf has not yet made the first
settlement on enormous transactions Of
Friday.
The following letter has been addressed
to members Of the Gold Room:
NEW YORK GoLp ExcHASoE BANK,
NEW YoRK, sept, ~, 1863.
hand you a corrected statement. The
following dealers have been rejected from
the movement for failure to comply with
the rules: Albert Speysrs, Dorwin & Bo-
cock, Galloway, Hunter & Co., William
Belden Co., Seegar q Graves, Chase,
MoCluFs 8 90, p. II. Williams, Ir. & Co.,
Chas. W. Keep & Co., James Brown q Co.
Your balances must be made good by y
o'clock to-day. All accounts not settled
at that tune viii be regarded as having |
failed for the purpose Of clearing You !
will be informed immediately OF any other |
default on your statements.
Yours, respectfully,
II. NJ. BENEDICT, Pres't.
James Brown sl1Phatically protested |
against the statement Of the Gold Ex-
change Bank, that he had failed.
The members resssembled at O'Clock. |
The committee Of nine stated that they |
had got the Gold Exchange Bank to post
Pone the declaration Of any more difficult |
ties until pm, and also suggested that |
a committee Of four be appointed to wait /
on the Bank of New York TO see if they |
would assist In clearing the gold opera |
tiOns OF Friday, owing to the fact that the /
Gold Exchange Bank has not got through !
with Thursdays operations. resolu-
ton was offered that noncompliance with
the resolutions OF the Gold Exchange
Bank, to take up the geld Of Bilder q Co.,
shall not work q suspension Of any Hlein-
Der Of this body. This was lost by very
decided vote.
A letter was received from W. W. Liv-
ermors q Co. giving notice that their out
standing accounts were all, by account of
VIM. Heath & Co., with Gould, Martin
and Vim. Fisk, ir. This letter was or
dsred on file.
A resolution was adopted instrueting
the committee OF nine to return TO the
Gold Exchange Bank, and II they were
not able to receive the assistance Of the
bank officers, to ascertain for themselves
what they could of Belden's affairs, and
report as early rs possible.
During the discussion, Mr.. wilbank
stated that Belden's clerk on Thursday
said he distinctly recouected the account
that was handed In. Belden's sccOunt
was on the debit side 1910, 600, and on
the credit side S3,T55,O ,Ooo. From this 1t
would seem his indebtedness TO the bank
was $4,000 in gold. This must have been
the Wednesdays business.
Amer recess the Board assembled at s
pm.
The Committee appointed TO ascertain
the condition Of BeldeR & Co. with the
Gold Exchange Bank said they were un-
able to make any report, and an adjourn !
ment took place until tomorrow morning.
As to the final issue Of the
present dead lock, 1t may DO con
cluded that everything depends upon the
Of Smith, Gould, Martin & Co.,
and from what is generally understood as
to the extent Of their settlements 81 LIS,
there appears to be little doubt that their
cleaFances will turn out ali right. On
a large number Of injunctions
were issued by the Supreme Court, rOs-
training the Bank from paying over de-
posits which It Is supposed have been
Charles cRlleuder, the National
Bank examiner, states freely that every
Bank in this city Is In a sound
aud that the Tenth National
Bank Is to-day creditor Of the clearing
house for over a half a million of dollars.
The following Is formal announce
ment Of the failure to-day ct the Stock
Exchange this am:
To tbs President Of the New York Gold
Exchanges
Dear Sir: In consequence OF W. p.
Bsldin & Co. not meeting theiT engage
meDts, we are unable to liquidate clsiRia,
we are obliged TO suspend
for the present.
(signed) g. BRANK.
@II0A