The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1869-09-29
MONDAY In NEW YORK.
General COnfuSIOn ana Alarm throat
BIEluEency In Money.

NEW HoRK, Sept, q.
To sum up everything, nothing has
been done In the gold business In Wall
street to-day. It Is certain that promi.
nent firms are involved, and that q
crash will soon follow, which will be
felt by the whole country.
The Gold Exchange Bank has not
yet settled fridays balances, nor will
It do 30 until 1t is forced to 1t. The
brokers are fsartully Indignant, aud
threaten to mob the place TO morrow.
The President OF the bank is a partner
In the firm Of Lockwood Il Co., which
Is reported dead broke. ~
There are good grounds for believing
that the bank 10 Interested In The oper-
RlIons OF the clique, and that Frlday's
settlement hus been postponed, so that
the balances belonging TO the sound
firms may be used In bolSleriuH up The
broken parties, who are making an on
set on the stock market, and creating o
panic; therefore, the purpose Of cover.
Ing themselves.
Lockwood & Co., today, sold twenty
thousand shares OF Pacific Mail, cash
delivery for what they would fetch.
This shows the desperate straits 10
which they have been reduced.
The failure Of Xeroga Il Graves,
Charles W. Keep Il Co., and James
Brown 4 Co., reported on the Gold Ex.
change, to-day, will inevitably insure
the failure OF from ninety to one hun~
dred smaller firms. This have from
the lips Of two prominent officers OF the
Gold Exchange.
1t is now reported that William Bel.
den has disappeared with over ten mil.
lions In gold.
James Fisk, Jr., and Gould keep out
OF sight! Their lives would not be
worth u rush II they would appear In
Wall street. Some OF the clique assert
that Fisk is totally ruined, unless he
repudlates all his verbal and written
contracts. They also aver that Jay
Gould has made millions OF dollars by
the transactions, as hO played sharp on
his comrades, and secretly sold out at
Ids. while Fisk was buying In.
Everybody seems panic. stricken,
and the approach Of the morrow ia
dreaded.
A council Of the clique was held, last
Thursday evening, at which Fisk,
Gould, woodward and others were
present. Mr.. Woodward, an old, and
OF late successful manipulation, oouu-
selled squeeze Of the short interest at
the then price, l45, or thereabouts, he
claiming that It would ruin the street
TO put it up higher. Mr.. Fisk, however,
was ClamOrOus, aud insisted upon put
ting 1t up 10 100, on the ground that
some one had gone back upon the
clique. The adoption Of the course
suggested by him has accomplished
just what Mr.. Woodward predicted,
and when Frlday's transac lions come
TO be adjusted the result will be that
one.halr OF the dealers In the Gold
Room will not know where they stand !,
and probably will 60 under,
The confusion In the money market
continued during the morning, u gen.
eral distrust prevailing in financial cir
cles, and rates have been Irregular and
unsettled. The strlngency has been
aggravated by the large balances, estI-
mated at 81, 200, 900 to Sl4 900. 900, lock-
ed up at the Gold Exchange Bank, and
hence the street rates have ranged from
7 per cent. In gold to HaX per cent. per
diem on the below par stocks, and as
high as 2 and 2H per cent on above par
stocks. the latter being the rate on New
York Central. -
Much caution has been observed dur.
ing the day by lenders, and at the
close some balances were left with
Government houses at the legal rate.
The rate on stocks. however, was un-
changed.
In discounts, business is at On entire
stand.still. Under the extreme strIn.
gency In money, and the want OF con>
hdenCe In business circles, as, also,
general dlstrust existing pending the
settlements at the Gold Exchange
Bank, the railway share market has
been heavy and lower, with q pressure
to sell the more active shares. This
pressure was further due to the report.
cd failure Of u prominent house, which
added to the existing confusion. In
the afternoon, upon the denial Of this
report, and the easing up In money,
more confidence was restored, and an
advance was noted in the entire list;
but at the close there was another reac.
ton, and the market left of weak and
unsettled. Harlem felt The pressure the
worst ofall, and declined sixteen per
cent. .- *. G,'- .f.AE- tt