New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-10-27
WALL-STREET.

GEN. BCTTFRFIELDS RES1GNATlON-WfO WILL
SUCCEED HIM-THE GOLD EXCHANGE BANK
ITS LIABILITIES CLEARED OFF.
The resignation of Gen. Butterfield was the
aabsorbng topic Of conversation yesterday, and the
news received without surprise, since 1t had been
expected for many days The reports relative 10 the
document published In yesterdays papers were predi-
Gated rather what should be than what really existed
Or other words papers deemed the resignation
q foregone conclusion and Outstripped tho tele-
graph itself in their aTdOr for advance news.
The resignation not sent until late In the
evening, did Gen. Butterneld telegraph TO
Secretary Boutwell, his intention OF forwarding his
resignation as was stated The correspondence between
Mr. Boutwell, and Gen. Butterfeld which was published
IN yesterdays TRIBUNE, furnished IN this city, Sec
rotary Boutwell, having refused to give it out for publ
cation. When 1t was sought TO procure copy OF the
resignation from Gen. Butercld, that gentleman took
refuge behind tho precedent afforded by the chief
Of his Department and refused TO give ~
No sooner had the knowledge become general than
speculation to the new sub-Treasurer became the
order On Monday evening, 1t was said. DstTictAt-
torney Pierrepont and Collector Grnnel specially dele
gated by Secretary Boutwell, had waited upon Mr jacob
D. Vermilye, President Of the Merchants National
Bank and had offered him the position, which
position has been offered Mr. VeImye The other gen
emen most generally named successors 10 Gen But
jacob Russell OF these the first is known to have
serted that he would not accept the position while Mr.
Van Dyck the former Sub Treasurer is said 10 have re-
marked that he had had enough Of IT, Mr. Russell y
now Cashier o. me God o o accent that
position at the time OF the opening o. the Bank MT
sponsbe position for nearly 20 lie Is very highly
thought OF among business men, and with his kn9Tedge
Of all the details OF governmental business. would doubt
less be OF great value IN the Treasury Department
Solicitor Baufed was Dusiy engaged In the affairs OF
with the Buttered Investigation was conducted with
secrecy Early yesterday morning, Mr.. Banheld held
hours What transpired at this meeting not made
known except that Mr. Baneld said 10 reporter that
awaiting orders from President last evening He
said he through with his business and should leave
At last the complications in the affairs Of the Gold EK
change Bank advance toward satisfactory settlement
this muchdesired contamination being due 20 the untr
ing efforts OF Mr.. Jordan, the Receiver aided by the
officers Of the Bank The Receiver sent
to the Cola Board yesterday which Will be ionnd IN our
Financial column. It's reception was as decided com
piment to the energy and business ability Of Mr. Jordan
as his most enthusiastic friend could have desired
The Bank comes out with very heavy ioss-proba9Iy
SOOOOO-but Ste capital the Receiver says Is unmpared
Mr. sauzade, the Acting President hopes TO resume oper
atiOns within few DAYS This Unexpectedly speedy re-
viii probably prove an efectual darnper the new
Clearing House project about which nothing mas been
heard for several says.
STONE. NICHOLS 4 co. on NEWSPAPER REPORTERs-THEY
NEVER BOUGHT OR SOLD On ACCOUNT OF PRESIDENT
To he Editor Of The Tribune.
SIR The following article appeared in today's edition
Of The World:
called T. Stone the
ofSoSe Tcboi, stone brokers' No 81 Wallet win
bought bonds margin Of four cent became
Mr. soHe aid that be had read The statement TIE Hori that lie
bought and sold stocks for Gen Grant bot he GA not Wish
upon 10 do 20 By proper g authority The sr Of
tbss was scandal sfo concerning President which
By bis denying that Vas 5i b. ~ 1o P 6S. lie ' UNDER ley
stood the position which this placed the President
Tho facts are these: called at my Office yester
day and asked had read the article in The saturday
Rrieto referring to Stone Martin stone brokers for
Gen Grant told HIM had not The saturday
Rereo but that one articles had appeared in The
World and Su, Implying that Stone Nichols Stone
were Mr. Corbins brokers' He expressed surprise at
this and thought there be mistake about IT,
as he was reporter for The World aud had not seen
ANYTHING Of the kind. On reading the article In Inc
there were but two firms In Wallst connected with the
name OF Stone He would Ike 10 ASK whether we were
him that II the Grand Jury Gen Grant or any party
having direct interest In any transaction through the
firm OF Stone, Nichols d Co., OF which nfn was
we would answer fully any proper questons that we
had nothing to conceal but that did not acknowledge
the right Of newspaper reporters 10 question us In this
matter and that would neither deny acknowledge
them anything in regard TO the articles that had ap
peared lie then said that he would he very gad TO nave
denial from us, searching the records In NewJer
sey they had found the accusation against rs Grant
WAS without foundation. My reply as before, that
pondents question US This 49, as near "a can recO
feet the whole Of the conversation between u.s. IL was
the intention Of my partners as well as OF myself 10 have
taken no notice Of the several articles when had ap
peard I'm the PAPERS but feel II my duty 10 state
positively that Stone, Nichols Co. have never made
transaction OF any Kind or nature ia wch they ao any
Individual President OF the united STATES hau any
direct or indirect interest "a, GOO y eu,,.
Yours respectfully GEO T. STONE
Nelg. York, Oct 2 1862