The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1869-10-02

| OUTSIDE parties VINO bought yesterday
and this morning Of different stock 4,
made up their minds TO sell and real.
Ice their profits. This drop 10 not 10 be
taken as an indication ofany general
fall In prices, or any general feeling OF
dlstruBt In the final result OF the affair.
In order to facilitate the settlement OF
outstanding gold contracts OF last FRI
day, VIM. Heath & Co. offer to settle on
the whole Of their S9, 1000, 900 at 1856, and
upon the difference between that and
actual figures to pay the So per cent
guaranteed by Smith, Gould & Martin,
the remaining II per cent to be paid as
soon aa they obtain their funds,
amounting to nearly 800. 900, from the
Gold Exchange Bank. Their carrying
out OF this proposal 10 dependent upon
two>thlrds OF the amount OF their credI~
tors accepting Ii. Already creditors
covering two millions Of contracts have
accepted the proposition. This after
noon 1t was reported that the receiver
ship over the Gold Exchange Bank had
been Annulled by the Court. The state.
ment is incorrect, as It must be from
the fact Of the order appointing o Re-
ceiver not being returnable until Mon
day.
The offers Of Lockwood d Co., are
being generally canvRBBed on the street.
The actual condition Of the firm cannot
be known for some time, but from the
enormous magnitude Of their !transae-
tions and the fearful sacrifices they
made In almost frantic endeavorB to
keep themselves from falling, their
condition 1t is feared is really worse
than has been imagined. They are said
to have paid 100000 In gold diE-
ferenceB at once and they were bulls In
Pacific Mall stock at from 120 down TO
80. The effect OI these transactions
must have been most disastrous. The
street was filled with rumors this after.
noon In regard to the losses Of the Lake
Shore and Michigan Southern Com
panies In order TO stop building
OF the Akron branch road bought
10, 900 shares OF Toledo q Wabash at S5
and paid for 1t, and further contracted
10 receive 5000 shares more on Octo.
Der 18th at S5, on which deposit OF 80
per cent. was put up. The Commercial
says the investigations to-day make 1t
probable that the amount owing by
Lockwood q Co. to the Lake Shore
Company will be near $l,500,O90 No
formal meeting Of the Lake Shore di~
rectors has been held to-day, but some
opposition ls offered to Mr.. Banker be.
Ing the successor Of Mr.. Lock wood by
the directors recently arrived In the
city.
The Express has report that Mr.. Bank.
or has been rendered the treasureTship
and declined, but 1t seems improbable.
An Informal conference was held to.
day, and four members were delegated
to wait on Mr.. Lockwood, and ascer.
tain whether what funds belonging To
the company have been involved In his
failure.
The Post says that according 10 re-
port he, as treasurer, held before the
suspension OF bis house $500, 900 cash
belonging to the company, and the
proceeds Of the sale OF 81 ,O75 900 par
value OF stock OF the company, which,
according to rumor, he sold at 81.
It Is reported that Commodore Van
derbllt has effected loan OF $4,000, 900
with Barring Brothers, giving Hudson
stock ut par US collateral, and that one
half OF this sum Is 10 be used to pur-
chase the 10000 share Of the Lake
Shore.
The propriety of establishing new
SAS"aAA6 AAOupo An D6luk III
the Gold Room. The plan proposed Is
to clear all gold at given price. No
action has yet been taken, but this
proposition Is seriously talked Of
Many millions of gold on fridays con-
tracts were settled to-day and the end
Of this complicated affair seems TO be
drawing to a close; 1t may, however,
take some days 10 clear up the wreck.
There were some few injunctions and
counter injunctinns 10 day. The Gold
Room presented u deserted appearance
this afternoon, owing to the brokers
being busily engaged In their offices,
or making settlements around the
Rtreet. The President OF the Gold
Room received the following notice
from the Gold Exchange Room.
New YORK GOLD EXCHANGE BANK,
October l.. 1869.
To Townsend Coz, Esq:
Slr-I am directed to notify every
dealer with this bank 10 send into this
bank full and complete account OF the
claims, OF whatever nature, against this
bank, with every item specified to veri.
fy those claims. This should be done
at once. Respectfully,
H. us DENEDlCIt f'TeotueHLs
Later In the day an additional notice
was sent to the Gold Exchanges:
BANK NEW YORK GOLD EXCHANGE
October l, 1869.
Dealers with the Gold Exchange
Bank will please send in at once their
statements of Friday morning, amend
ed on the basis Of striking out from
their statement the nine names adver-
tised as rejected on Sept. 9th. The
names were as follows: Albert Spey-
ers, Dornin d Bocock, Galway, Hunter
d Co., VIM. Belden d Co., Perega &
Graves, Chase, Mcclure d Co., p. II.
Williams Jr. u Co., Charles W. Keep &
Co., and James Brown g. 90.
(SIgned) CHARLES II. WooD,
Vtce President.
The State Superintendent OF tho
banking department Is underslood to
express the oplnion that when these
statements are all In, the bank will be
In such condition as to be relieved from
the reCeivership. II this be true then
many brokers will be able TO meet
their liabilities and resume business.
Il Ia reported that Smith, Gould s.
Martin will be forced into bankruptcy
by their creditors.
An Enormous Failure.
Rumor places the liabilities Of Lock
wood at thirty to thirty>hve thousand
dollars. The Lake Shore Railroad to.
day, paid interest on the bonds OF the
Buffalo and Erie branch.
John Simonton, for many years one of
the editors OF the New York Times,
has resigned his position on that
journal.
MONEY AND STOCKS.
MoNEY-Market easy during the
afternoon, and before the closing Of the
banks money could be had quite freely
at per cent on Governments and stock
collaterals. Discounts nominal.
sTERL1Na-Dull and heavy ut lO7Ha
1073<.
GoLD-Opened at lSO, and closed at
lS09S. The Sub.Treasurer sold mill
lion at l20 55al3O.l7. Carrying rates Z
per cent, and l-S2 per cent to fiat ior
borrowing.
GOVERNMENT BoNDs-ActIve and
higher, particularly ou currency skies,
closing strong. Coupons OF 'SI, ll9Ha
l19N; do, '62, l2OISsl2O9S; do. '64, ll0X
Rll0A; do. 'G5 ll9Sall9M; do, new,