Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1869-10-02
NEW YORK.

The Financial Tempest-What Gold
and Stock Dealers are Doing 60 bt
Saved.
New York, Oct. 1.-The prevailing
feeling on street this evening is one O.
rather less confidence than this morning
All kinds ofstock has been lower from 8
variety Of causes, but principally from the
fact that outside parties who bought yes.
terday and this morning Of different
stock, made up their minds to sell and re.
alize their profits. This drop is not 10 be
taken az indicating Of any general fall in
prices or any general feeling Of distrust in
final result of the affair. 10 order to
facilitate the settlement of the outstanding
gold settlements of last Friday VIM.
Heath d Co. offer to settle all their.
nine million at 135 and upon the differ
eDce between that and the actual figure to
pay SO per cent. guaranteed by Smith,
Gould g. Martin, the remaining IL per cent
10 be paid as soon as they obtain their
fund, amounting TO nearly $400, 1000, from
the Gold Exchange bank.
NEW YORK, Oct. Lit was reported
that the receivership of the Gold Exchange
Blnk bad been annulled by the court The
state melt is incorrect as it must be from
the fact that the order appointing receiV-
er il not returnabIe ill Monday. The ST,
fairs of LOekwoo & Co. are being general
" csnvassed on the streets. The actual
condition of The firm cannot be knosn for
some time; but from the enormous magni-
tude of their transactions and the fearful
sacrifices they made Ia the almost frantic
endeavoF.to keep themselves from falling,
their condition, il is feared, il really wore
than has been imagined. They are said
to have paid 81 100000 gold difference
alone, and they were bulls in the Pacific
Mail stock at from 40 down to Co.
The effect of these transactions must
have been most dissstrous. The street was
filled with Tumors this afternoon in regard
10 the losses of the Like Shore or Mich
igsn Southern Company by the late panic.
1t 10 reported that the Lake Shore Com
pany, in order to stop building the Akron
branch road bought fifteen thousand shares
of the Toledo and Wabash al IS and paid
for il, and further concluded TO receive
fifteen thousand shares more on Oct. Is, at
IS, on which DEPOSIT of 80 per cent. was
put up.
The Commercial says that investigate q
TO day makes it probable that lie amount
owing by Lockwood & Co. TO the Lake
shore Company will be near Sl,500,000
No formal meeting of the directors of the
Lskeshore Company has been held to-day.
There were some few injunctious and
counter ipjunctions to-day. The gold room
presented deserted aspect this afternoon,
owing TO the brokers being busily engaged
in their oficss or making settlement:
around the streets.
The PRECEDENT OF the gold room received
the following notice from the Gold Elk
change Bank:
NEW YORK GOLD EXCHANGE BANK
Oct l, 1S69.-To Townsend Cox, ESQ.,
Sir: | am directed to notify every dealer
with this bank to send into the bank full
| ard complete account of claims of what.
ever nature against this bank, with every
item specified to verify theis claims. This
should be done at once.
Respectfully, H NJ BENEDICT,
President.
Late in the day The following additions
notice was sent to dealers with the Colo
Exchange Bank.
New YORK GOLD EXCHANGE BANK
Oct. ALI dealers with the Gold Elk
change Bank will please send 10 at onct
their statement OF Friday evening
amended en- basis of striking out from
their statement the names advertised a;
rejected On Sept. q. The names were a:
follow: Albert Speyers, Dorwin & Bah
cock, Galway, Hunter g. Co, Vim Bel
den & Co, Zsrega & Graves, Clas Nc
Clure & Co, p H Williams Jr, & 20
Char w Keep & Co, Jas Brown & Co.
CHAs P. WOoD, Vice President.
The Stats Superintendent of the bauk
ing department il understood TO expires
the opinion that when these statements ar
all ir, the bank will be in such a condition
as to be relieved from the receivership
| If this be true, then many brokers will b
able to meet their liabilities and resnm
business. IL is rumOred that Smith
Gould u Martin will be forced into bank
ruptcy by their creditors.
The money WAS easy during the afpeI
noon, and before the closing Of banks NOR
| ey could be had quite freely al per cen
on government aud stock collatersls. Dis
count nominal. Sterling dull and hesv
at7497}c. Geld opened at 100, touche
| lous anu CiOseu ~ lows 1ue suo-lIe'
urer sold 100000. 900 at 1929 So 1000
$3.50 17-l00. Carrying rates Z per cen
and 80 per cent TO fiat for boTrowip
Governments sctiye and higher. Sta
bonds frmer; old Tennessee5 COZ; new 8
New YORK, Oct. l-Rdmor places IL
liabilities Of Lockwood at $3000O,000
SS5 0G0,000
John SSinton, FOR many years an edit
Of the New York Times, has resigned Ia
, | poRiliJu on hat journal