The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1869-09-28
DEAD LOCK IN GOLD EXCHANGE BANK.


NEW York, Sept 27-Eve. The dead lock
in the G Did Exchange Bank continues, and
has brought the Gold Room to a stand still
and checked foreign exchanges. The officers
of the bank are severely criticised The En-
press says: cit is openly charged that the
bank, on Friday and Saturday, made partial
settlements with some large parties, but small
ances due them, and who were known TO be
solvent, could not obtain even partial settle
ment This has thrown into the money mar
ket, perfect army of small borrowers, and
greatly aggravated the stringency in money
since Thursday last" Tho members of the
Gold Room re-assembled at one o'clock, when
there was renewal of the confusion and ex-
element of the morning. The Committee Of
nine stated that they had got the Gold Ex-
change Bank to postpone the declaration of
any more defaulters until p. NJ, and they
also suggested that a committee of four be APP
pointed to wait upon the Bank of New York
and see if that institution would assist in clear
ing the gold operations of Friday, owing to the
fact that the Gold Exchange Bank has not yet
got through with Thursdays operations. A
member stated thata policeman in the Gold
Exchange Bank had ordered him out, when
he endeavored to find out how he stood. He
said that it was high time that we knew wheth-
or the bank has any responsibility, and where
it ends. The feeling at this juncture ran very
high, and the Gold Exchange Bank was allud-
ed to in the debate in anything but compli-
mentary terms. A resolution was offered that
the noncompliance of the Gold Exchange
Bank to take up the gold of Belden & Co.,
shall not work the suspension OF any member
of this body This was lost by very decided
vote. A letter was read from VIM. f. Liver
more & Co., giving notice that their outstand-
ing transactions were all to the account of
VIM. Heath & Co., Smith Gould, Martin &
Co., and James Fiske, Jr. The letter was
ordered on file resolution was adopted
instructing a committee of nine to return to
the Gold Exchange Bank, and if they were not
able to receive the assistance of the bank Of
t1cers, to ascertain what they could of Belden's
affairs and report to the board as early as pos
sible. During the discussion, Mr.. Millbank
who acted as Belden's clerk on Thursday, said
he distinctly recollected that the amount
which was handed in on Belden's account
was on the debit side $3,77O,000, and on the
credit side $3,755,00O. From this it would
seem that his indebtedness to the bank was
nesdays business. The board then took an
other recess until o'clock.
At 8 clock there was comparatively but n
small attendance as it was generally under
stood that the committee would not make a
report. The committee appointed to ascertain
the condition of Belden s. Co. with the Gold
Exchange Bank said they were unable to make
any report, as the bank had not yet concluded
Thursdays business Finally the Board ad'
journed until 10 o'clock tomorrow morning.
The Courts are at work and injunctions were
flying among the brokers and the Gold Ex-
change Bank this afternoon.
THE GOLD RooM-DIsCUssIoN, RESOLUTIONS, &c
NEW YORK, Sep. 27.-The Gold Room was ad-
journed until tomorrow. The street price OF
gold is 35. The committee appointed Saturday
night to investigate the affairs of the Gold
Exchange Bank, reported following to-day:
The Directors of the New York Exchange
Bank, together with the Committee appointed
by members of tho Gold Exchange to examine
the 0Olu CACudllSo Dduh, WOuiu LCSpCCuuby
recommend the passage of the following
reso'utions:-
Resolued, That purchases and sales of golt
be suspended until tomorrow, (Sept. 49, and
that the Gold Exchange be kept open for thu
purpose of borrowing and loaning gold.
Resolved, That all transactions made on Fri
day, Sept Oath, be cleared through the Colo
Exchange tomorrow, Sept %, at a fixed rate
and differences be settled by dealers anon;
| themselves.
A long and rather exciting debate followed
| during which Mr.. Brown alluded to operation
of Thursday and Friday, as conducted by Fl
nancal ruff1ans, and the transactions for las
week were directly traceable to the clique G
financial ruffians, as he was pleased to call tn
late bulls in gold. His remarks were receive
with mingled Kisses aud cheers, and sconfusio
finally drowned his voice. The following reso
lutions were then adopted:
Resolued, That the board do now 20 into ez
ecutive session.
| Resolved, That Committee of nine be ar
pointed by the chair to report some plan wher
by outstanding contracts may be settled, an
the business of tho board may be resume,
The Gold Board then adjourned.
The list of those who failed to make the
balances good at the bank, as sent early tn
morning to the New England Press, were III
tilted to make their accounts good by noon t
dav Init nothing is publicly known thereof ;
yet Mr.. Calender the national examine
States that every bank in this city is in SCUM
condition. Also, that the Tenth Nation
Bank, is to-day credited at the clearing hous
| for over half million.
PRINCE ARTHUR Dimes WITH Ex-PhEslDEf
FILLMORE.
BUFFALO, N. Y. Sept. N.-Prince Arthl
and the Governor General of Canada al
suit arrived here on a special train at 1 !!
o'clock this afternoon, and drove around Il
city. They lunched at the Tiff House in con
pany with Ex-President Fillmore, and afte