The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-10-04
LITTER THE STORM.
The Muddle in Wall Street - Heavy
Failures-Stocks Higher - Scenes at
I the: Gold Misunderstanding against
Fisk-Injunctions-s the Bal
ances.

The New York papers are beginning to print
something besides accounts of the panic, al
though all continue to dwell fOndly upon it.
The Gold Exchange Bank is lashed by the
Times for want of capacity, and threats of the
United States Bankrupt Court are freely ut
tered. Fisk Gould and Belden are made the
scapegoats of all sorts of financial misdoing,
and in one case Fisk is called On arch-devil
The Sun asks the District-Attorney to prose-
cute the Ring for "injuring the public health"
The Herald says ''what we want is an able
mana statesman-for Secretary Of the Trea-
sury, who can enlighten Congress on what is
needed for the country and can prepare the
way for the necessary legislation. Evidently,
Mr.. Boutwell, is not the man."
A New York letter of Wednesday says:
SEVERAL HEAVY FAILURES
Are announced this morning Among these
are Lockwood & Co., C. A. Meigs & Son, Julian
& Co., Fuller, Treat & Co. Besides these there
are numerous others whose names are rumor-
ed in connection with to-day's failures, but no
reliable information can be gathered in regard
to the same. There appeared to be some
what better feeling on the Stock Exchange
this morning, when business commenced, as
1t was noticed that outside capitalists were
coming in and buying stocks at low prices; but
when the above failures were announced, the
market broke, and down went New York Cen
tral from 163 to lat, where, at this writing, 1t
is trying very hard to come up again.
Of course the other stocks followed in SYM
pathy with New York Central, and the
market and the street generally once more
wore a most gloomy aspect.
THE GOLD BROKERS. :
In the meantime, were making superhuman
efforts to straighten out their accounts of Fri
day and Thursday last. Yesterday stated
that, dissatisfied with the dilatorlness of the
Gold Exchange Bank, they had transferred
their clearings to the Bank of New York. But
b is institution having looked at tile enormity
the transactions they would have to settle
ould have nothing to do with 1t, and a
committee Of twenty, therefore, took the
matter in their own hands, and they have
been at their work all night and all day, ,withs
a fair prospect of having everything In readi-
ness this evening.
THE MODE OF PROCEDURE
In arranging the balances is very simple. Each
broker who sells gold makes an order on the
clearing house, printed In black letters, dlrect-
ing the delivery of the amount sold at the price
agreed upon to the broker who purchases.
Each broker who buys cold makes an order on
the clearing house, printed in red letters, c=
recting 1t to receive the amount purchased at
the price agreed upon. The brokers having
sent in statements Of their transactions accom-
9sF5 9snesar are by YterSed shs dftca a and SAFE
the committee compare the statements and the
tickets. and strike the balance of gold due.
which, as agreed upon by the operators, is set
tied for on the basis of the premium Of 1876.
IMMENSE TRANSACTIONS.
Out of the statements before the committee
of twenty, 1t appeared this morning. that the
business In the Gold Room on Friday and Sat
urday last amounted to over the enormous
sum of a thousand millions gold bought and
sold, on those two days. Can any one wonder
that it is difficult to straighten out all their
transactions9
ASPECT OF THINGS ON THURSDAY.
A New York dispatch of Thursday says:
On looking at the surface of things to-day,
everything has the aspect OF calmness, COM
pared with the excitement oil the past lew days.
There are. however, many who do not believe
that the storm Is over, and who fear that the
present calm is only the prelude to still fercer
thunder than we have been listening TO ever
since Friday last. There Is believed to be some
thing very rotten at the bottom of our finan-
clal affairs, which only needs another shaking
like that of Friday last to envelope everything
around in ruin and disaster.
FISK co.
+ The indignation against James Fisk, Jr., who,
1t now appears, has been the prime mover in
all of these nefarious transactions, is terrific.
1t is said that orders Of arrest are out against
him, but protected as he is in his Twenty-third
street office by q body guard, and four attor-
news in his employ, Il is next to impossible to
reach him. Threats of murder have been
made against him, but he takes good care not
to show his face In Wall street. He and his
brokers, Smith Martin and Gould, have flooded
the town with
INJUNCTIONS,
Which have been served all around, enjoning
all members of the gold room from selling him
out under the rules, enjoining banks and cor.
porations, who hold his stocks as collateral
everybody from doing anything that may act
or tend to the advantage of James Fisk, Jr.,
and his satellites