The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-12-21
-1EEAIRs IN NEw YORK.
From New York letter of Wednesday last
we take the following:
MOVING THE STOCK EXCHANGE.

We take the following
MOVING THE STOCK HXCuANGR
Some OF tho heavy capitalists OF Wall street,
! determined no longer to submit to the enormous
onlco rents OF Wall street, are combining In a
grand movement to make the Vicinity OF tic Park
the future financial focus. The Arst step probably
! win be the removal OF the stock exchunge from,
Its present location. The stock and government
branches Or, OF the exchange have now very Indiifer
to the building association $4,000 year, besides
abont s35,ooo for rent of safes In the basement,
appointed TO take the proposition Into consldera-
sn siT anu ah report as soon as practicable. II is
Induced @ 10 par. with his narSe S nigh. TooG be
palaSc In Broadway. between Chambers and
Reade streetsi or falling In that, the Astor House
would be admirably suited TO business with the
new postonice, and the project on that, as on
other accounts, meets with much favor with The
brokers. or course, If the stock exchange moves
away from Wall and Broad street, these Will grad.
there Viii probably rail- baeS 70 ossg dSwn
reasonable ngurc.
HEAVY FAILURES
The suspension OF the old and well.known hard
ware firm OF Richard Patrick & Co. Is announc.
ed Tic recent heavy decline In gold and consc.
9uent shrinkage Of values is understood TO have
icd to the suspension. The suspension or W. H.
exchange this aternooD Bn Inc most o. .le nossSe ssSGe
OF inc recent failures Is that OF H. Edgcrton Co.,
probably the largest Importers OF foreign carpets
IN this country, always excepting Mr.. A. 4. Slew
art This nrm suspended on Monday. besides
these failures the following are announced: Isaac
rrager, dry goods liabilities large. George
wight, proprietor Of the Park Hotel. James Beck
skirts Bosworth, White & Belcher; millinery
Caules Case, cotton and yarn. LegraIn, dry
go0hs. ItoenheIm, millinery goods. Baker
montague, iced, and George NJ. Jacobs, wooden
ware.
PETROLEUM CONVENTION.
The petroleum dealers were In convention thts
morning at tho Merchants' Newsrooms. The
points under discussion were the settlement OF
the question as to the gravity OF crude oil, the
seliipg OF crude oil by weight instead OF measure
and tile regulation OF the sales of aduternted oil
inc following resolution, offered by,Mr. Herr was
unanimously adopted:
Resolved That tho standard gravity or crn1e
petroleum In the natural state shall be 16 iegrees
and on and after January 1, 1870, all contracts
shall be made at and between a. and 4s degrees
gravity. That any such oil bearing gravity
above forty-eiglit ls not merchantablc, and
will not be received by the purchaser
except In case OF specified agreements,
as TO tho reduction beyond that which Is
PROVIDED for an oil up to 4S degrees. II the seller
Wlsnes 10 deliver crude oil or q gravity lighter
.nsm 40 degrces and net over 4s degrees, he shall
mako nnix aeductlon Of az per cent, on the price
pau PEI parre or gallon for each degree or part OF
aegIee aDove 4e degrees; and In the same mar
ner, tho seller shall deliver pure Oil moi aduite
gravity, then tho buyer shall allow tho geer Tho
degree. "u ''ery
Another resolution adopted appoints commit.
zee ef Three TO have accurate Instruments mad
!or testlng tho specific gravity OF crude oil and
tnat these bc considered and accepted ns stand.
ard Instruments.