The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-09-27
THE NEW YORK MONEY MARKET.

The following extracts snow the state OF the New
York money market OH Saturday,
From the Herald.
"The day closed on Friday with the forced suspen-
sion Of half the houses In Wall, Broad, and New
streets, and Exchange place. Wherever n brokering
firm had gold contracts there was block to the
transaction Of business The Gold Exchange Bank,
the clearing house Of the Gold Room, which usually
made itsscearances about 2 O'Clock, was unable
to complete the CearanceS for the days transac-
tions, the amount involved being estimated
post their coaterals with their banks or with
their debtors. Business came to a stand
still, and Friday night was simply a recess in and
not termination OF the days operations Saturday
morning found the Gold Bank still unable to make
its clearances The Gold Room adjourned to Mon-
day, and the precious metal which the day before
had been the theme Of the most excited bidding was
almost without quotation, the few dealers in it, COM
prislng the bullion brokers, buying and selling it
very cautiously at figures wide apart. Towards
noon some of the larger houses who had suspended
through Inability to obtain negotiation Of their claims
on others opened their doors and commenced making
payments of such demands as they could meet.
The Gold Bank at length began giving checks for
balances where statements were not in dispute,
and this still further quckened the sluggish stream
of business but ut the close OF the week the situ-
aton, while much ameliorated, was still emoar-
rassed, and may remain so even up to Tuesday morn
ing unless the holiday of Sunday has been improved
to straghten out the confusion at the Clearing House.
While the excitement on Saturday was not as great
as Friday, there was a very apprehensve feeling at
one time for what might result from run upon the
Tenth National Bank, which, from its supposed aff-
liation with the members of the gold clique, had
been tabooed by certain fellow institutions down
town. The run was precpitated by the throwing out
of its checks by the other banks who were induced to
this action by the debtorship OF the Tenth at the
Clearing House for over seven hundred thousand
dollars. Fortunately for the community the panic
which might have resulted from this run was OBJ
Waited. The Indebtedness at the Clearing House was
made good at the time for exchanges, while the
checks presented over the counter were cashed in
greenbacks until the last demand was satisfied, the
amount thus paid out being million of dollars
within one hundred thousand dollars of the entire
sum on deposit. Whatever the 0dium attaching to
this institution for its connection with the Erie and
gold party, it certainly withstood siege yester-
day which might have sapped the vitality OF
prouder Institutions The remark Is made In
spirit of favOrttsm, but In commentator OF what
was really magnificent response to a most hazard
GUS attack. Had the Tenth National Bank failed on
Saturday, on the top of the great break In stocks on
Wednesday, and the bursting OF the gold bubble on
Friday a panic might have ensued which would
have dwarfed those of 1887 and 1851 AS 1t is, the
week opens on state OF atalrs which by the exer-
tive honesty the part OF Debtors may yet pe less
aggravated than al the first fiush appears
"The locking up Of currency in the Clearing House
OF the Gold Room has rendered money extremely
active ever since the deadlock commenced In tne
necessity 81 some stocK houses 10 nave Se 6d e
annum to one and one-half per cent. per diem were
paid; ..o.o,o. .,o,,, . ,oruo fo,,,rC or IN
deposits so that the loss in reserve is only ABOUT
half million OF dollars, despite the withdrawal Oh
greenbacks and specie The changes from last week
| are as follow ST. o,, ,ocj
Decrease in loans. 'S0Vo4 iSo
Decrease in specie. ooVzo
| necresse in in denostss s........,.... 51598aI
| Decrease in legal tenders ............ ,234 116
| 'The next greatest sensatlon-altn0ugn preceulng
| the gold excitement I'm time-was in the stock mar
| ket where a panic took place In the Nanderoht
| stocks on Wednesday and a heavy decline IN Lhe
general list On Friday there was sequel 10 tnis
| break particularly for New York Central, wnlch
| went OF to 1I3; but on Saturday the market Tailed
| but was extremely dull, owing TO the deadlock IN
| money which forbade the execution OF orders Ine
| GENERALIZATION of the week extended even TO tne
Government market, where prices broke largely ous
i Gofn
| prices were as foIlows:-Gnlted States currency
sxes 107@@10s; do. skies, 1Ssl, registered, llgh
| @12O; do. do, coupon, li9H@l2O; do. nye-
twenties, registered, May and November, l9oS
l2ON do. do, coupon, 1852 do 19O}5@l2i IL DO 49, 49,
l2O1Sai21; do do registered January and july
11sI@1l9; do. do, coupon, 1865, do, llS4@ll9i
do. do. coupon, 1861 1l9@ll9h; do oo coupon
1868, do, 1leA@l19; do. ten-forties, registered
1OSal@1O9: do. do conpOn, 1OSzk@l09."