Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1869-09-26
NEW YORK.
The Monetary PanIc-The Panic Sub
siding.

siding.
New York, Sept. 25.-Tne gol room
was crowded early this morning. At ten
o'clock the board came to order, when
the following note received from the
Presidentof the Gold Exchange Bank:
"The bank will not receive sny clearing
statements from dealers torday."
The statements received yesterday are
nearly all effected by the failures. 1t is
impossible as yet TO learn balances. Deal
ers must be prepared TO take up the tickets
of those in default which they have seIt
in, as that is the only mode Of adjusting
the movement The bank will uso every
. exertion to bring the accounts TO a prompt
u settlement.
The Board then passed resolutions to
adjourn till Monday, to recognize no
transaction made to-day, and appointed
committee Of three to wait on the Assist
ant Treasurer and request him to postpone
the sale of four million dollars in gold
till Monday. The Board then adjourned.
There have been no transactions in gold
to-day.
The Assistant Treasurer has declined TO
accede to the request of the gold committee,
but states that no awards for gold will be
made until the bids are telegrsphed to Sec
rotary Boutwell,. The purchase of bonds
will not exclude The sale of gold
The bank officials are Strengthening out
accounts between the gold brokers and
themselves
The clearings yesterday at the gold eK
change bank aggregated five hundred
million dollars.
William Heath & Co have not failed,
they are pursuing business as usual. 1t is
stated that Smith, Gould, Morton & Co.,
will settle their accounts, and have 4 ball
auce Of several millions.
y At 2:20 P NJ. money was almost i'm
possible to gel at any price. It is quoted
at7@llt per cent Ii is freely paid for
turning stock. The stock market is dull
The houses reported yesterday as sus.
pended, are still in the same condition. 1t
is rumored they will not be able 10 60
on.
The Tenth n ational Bank Is in trouble,
There has been a run on it all the morn
ing. Ii is reported it will have to be sus.
pended unless other banks assist.
The day closed quietly in Wall and
Broad street, and everything now wears q
calmer aspect The run on the Tenth
National Bank ended about 3:l5 P. NJ a, the
bank having met all demands on it. 1t is
presumed the bank on Monday will have
10 decline the acceptance Of its check
The ability Of the banks 10 satisfy all
claims has materially checked the grog.
ing panic, and there is a marked recovery
of confidence in the several departments
of business. 1t now only remains to be
seen what Monday n,sy bring forth from
the disclosing Of closely kept secrets O
the Gold Exchange bank. The Tenth Ma
tionsl held Ia deposits this morning 81,
100000 snd paid Out during the day
about 81, 100000
Mr.. Calender, Bank Examiner, inspected
the condition of the bank and pronounced
il satisfactory. Many banks were Thu
evening throwing out checks on the COX
Exchange Bark, and some banks wer,
served with injunctions and legal notifies
lions against paying checks paid into tn
Gold Exchange Bank Yesterday thes
checks, however, were certified and CAM
through the customhouse this morning, an
Of course had to be recognized
Bids TO the Assistant Treasurer to-da
amounted TO $685., 500, ranging from II
l34l. The Secretary Of the Treasury in
structed Gen. Butterfeld, by telegraph, t.
limit the purchase of gold to day to So
100000 unless bids should be over 134
and 10 reject at l32(9l344.
A cable dispatch reported that larg
amount Of gold had been Withdrawn fror
the banks of England and France for shiT
men. 10 New York.
The general opinion Of the street ia tbs
beyond those Of Albert Speyer and w. I
Belden the failures will be confined prime
pally 10 small firms, whose engagement
are not large enough TO cause Heriou
trouble.
Money is irregular and unsettled tn
4 evening, owing to lack Of funds in th
gold Exchange Bank. Call loans a
made att per cent. gold with commi
sions paid for carrying stocks to MOI
day ranging from l TO II per cent?
The bank statement is unfavorable, an
reflects the general disarrangement of g
fairs in Wall street Foreign exchanI
quiet and firm at S98t. Gold quiet ar
nominal, the Gold Room having be-
closed all dsy. A few streetsales were MAJ
at l33@lS6, and the latest reported fgur
were l33l@l344. Government securiti
are dull. State bonds were neglected.
Bonner denies that Dexter ia to trot {
The benefit Of the AvondAle sufferers
any others.
Solomon Msther, a gold broker, col
mitted suicide this morning.
OF four or five men who attempted
ravish a woman, at Green Point Il
evening, two named Quinlan and X
were shot, wounded and captured.