The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1869-10-02


ner cent, guaranteed by Smith, Gould
r. Martin; the remaining IL per cent.
to be paid as soon as they obtain their
| funds. amounting to nearly 100000,
from the Gold Exchange Bank.
Their carrying out of this proposal IS
dependent upon tWo-thirds on the
amount of their creditors accepting
| it. Already creditors covering g, 000,-
Epropositiou. This afternoon it was
reported that the appointment Of a
receiver over the Gold Exchange
Bank had been annulled by the
Court. The statement is incorrect:
as it must be from the fact of
the order appointing a receiver
not being returnable until Monday.
The affairs of Lockwood & Co. are
being generally canvassed on the
tstreet. The actual condition of the
| firm cannot be known for some time,
/ but from the enormous magnitude OF
! their transactions and the fearful sac
| rifces then made in almost frantic
endeaVoTs to keep themselves from
failing, their condition, 1t is feared,
is really worse than has been Imasln,
ed. They are said to have. paid
! P1,OUVsOUO IN gOlu ulA0l CH OCS 1ip.lSa
and they were Bulls in the Pacific
Mail Stock at from 120 down 30 go.
The effect of these transactions must
have been most disastrous.
! The street is filed with rumors this
afternoon In regard to the losses of
the Lake Shore or Michigan Southern
Company by the late panic. 1t IS re-
ported that the Lake Shore Company,
/ in order to stop building the Akron
| branch of the road, bought 15,0O0
shares of the Toledo Il Wabash at %
cents, and paid for it, and further
eoncluded TO sreeeiye 70 900 shares
I more an October 18th at 80 cents, on
EwhioblR deposit of 30 per cent. was
put up.
II The Commercial says an investiga-
4 tion to- day makes itpro obable that the
amount owing by Lockwood x Co. to
the Lake Shore Company will be
.lnearly $1,500,000.
No formal meeting of fhe Directors
of the Lake Shore Company was held
To-day. Some opposition is offered to
f1oMr. Banker being SUCCESSOR of Mr.
r LockWsod by directors recently arrlV-
ed in the city.
The Eepress has a report that Mr..
Barker has been rendered the treas
urership and declined, but it seems
} improbable. An informal conference
was held, to-day, however and four
/ members were delegated to wait on
Mf. Lockwood and ascertain whether
= any and what funds belonging to the
} Company had been involved In his
failure
: The Post says that according to re-
4: port he, as treasurer, held before the
& SUSPENSION of mis- house $500, 600 cash
belongiag to the Company, and the
e proceed- of the sale of $lO7 ,500 pal
{ value Of stock of the Company Whlct
j according to rumor. he sold at 81
8 / tits reported that Commodore van
a derbilt has effected loan OF SlO, ,OUO,
600 with Barring Brothers, glylnl
e Hudson stock at par as collateral, ant
J. that one half of this sum will be use'
:. to- riIrahasei the 10000 shares of the
Clearlng House is DeIng uTsUusseu r
) the Gold Room. The plan is to elea
} all gold at a given price. No actio
has yet been taken, but the PROPOSE
y ton is seriously talked Of Man,
7 millions of gold on Fridays contracts
9 were settled to- day, and the end o
= this complicated affair seems TO b
drawing to close. 1t may. however
take some days to clear up the wreck
There were some few iniunctions and
counter injunctions to-day
= The Gold Room presented a desert
|. ed aspect this afternoon, owing to the
brokers being busiIy engaged In their
, oHlces, or making settlements around
4 street. - i -
a The President of the Gold Room
received the following notice from the
Gold Exchange Bank:
! N. Y. GOLD EXCHANGE BANK. !
October /, 1869. 7
: 70 Toa0tsend Coz, Esq:
. SIR: I am directed to notify every
. dealer with this bank to send into the
! bank full and complete account OF
? claims, OF whatever nature, against
this bank, with every item specified
to verify those claims. This should
be done at once.
Respectfully,
II. NJ. BENEDICT, Prest.
Late In the day the following addi-
tlonat notice was sent to the dealers
with the Gold Exchange Bank:
N. Y. GoLD EXCHANGE. BANK, !
zaa October /, 1869.
Dealers with the Gold Exchange
Bank will please send In at once their
statements of Friday afternoon, as
amended on the basis of striking out
from their statement the nine names
advertised as rejected on September
II 27th. The names were as follows:
Albert Speyers, DOWN & Babeock;
Galway. Hunter 4 Co Wm. Beldeu
~ Co., Zsrega Il Groves; Chase, Nc
Olure q Co: p. II. Williams, Jr. &
Co; Charles w. Keep & Co, James
Brown e ca. CHAs H. WooD,
Il xlr.e Vice President
II The State Superintendent of the
Banking Department is understood to
express the opinion that when these
statements are all in, the bank will be
in such a condition as to be relieved
from the receivership. If this be
true, then many brokers will be able
to meet their liabilities and revenue
business. It is rumored that Smith,
Gould & Martin will be forced into
bankruptcy by their creditors.
L The Indians asking for Peace