The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-10-01

Analra ct the National Stock Exchange were very
quiet all day. Comparatively few dealers were in
attendance and only small quantity OF gold was
sold. One lot OF 500, 900 was taken at 1874 aud
another ct 1901.
THE GOLD EXCHANGE BANK
remains In the custody OF the receiver, Mr.. Angus
tus i. Brown, and still presents the deserted
appearance which characterized 1t on Wednesday.
Mr.. Brown states that he has simply taken posses
sion OF the property OF the bank TO protect IL until
Monday next, at which time the subject comes up
In Icourt to enable the bank TO show cause why the
receiver should not be continued. Not feeling at
liberty 10 make any disposition OF the funds OF the
bank, Mr.. Brown yesterday offered the following
petition the terms OF which, 1t understood, have
been granted and already carried out by the
receiver
Charles G.. osborne rs. The Neao York GOid Err
change Bditt.-rhe petition OF Augustus l.. Brown
respectfully shows that by an order ganted in this
City Hail. in the city OF New York, on the 2sth day
OF September, your petitioner was appointed tenn
se 0d q the ssse ana 81 e
thereupon caused to be executed the bond required
to be given by him. ana which bond was on said
10th day OF september 1862 approved by one OF the
justices Of this court and duly filed with the Clerk OF
the city and county OF New York. In pursuance of
his duty IN that behalf petitioner has proceeded
to take an inventory Of the property found by him
IN the said bank, and among other assets he found
therein gold coin, gold certificates and United States
currency to the amount OF over $4,000
Your petitioner, IN order 10 safely guard and pro-
tect is large amount OF property, has been Obliged
TO incur already large expense, which can be obv
ated II he Is permitted to deposit SAID gold CON-
gold certificates and currency In one OF the united
companies, or in one or more OF the banks IN the
city OF New York. In good credit and standing, and
where your petitioner believes the same would be
the safe OF the said Gold Exchange Bank.
Your petitioner therefore prays that an order may
receiver deposit the SAID gold CON- gold eert
Gates and currency IN one OF the trust companies
or In one more OF the chartered banks in the city
Of New York, az good rnpuie and standing.
Al. VANDERP0EL, Attorney for Receiver.
Guy ana County Of Nec York-On the 3Oth day
of September, 1859, before me came personally
Augustus L. Brown, who being By me duly sworn
did depose and say ne had heard read the foregoing
petition and knew The contents thereof, and the
ters therein stated to be on his own Information ana
belief and to those matters he believes them TO be
true. f. 7. DONOVAN, Commissioner OF Deeds.
BELDEN co-THE VOICE OF A BANKRUPT.
member OF this once prominent firm, now buried
beneath the ruins of the financial fire, was visited
yesterday IN order to ascertain some facts
ing the effect Of the storm. The bank was almost
deserted, looking like complete wreck. Not that
there any OF the furniture disturbed or injured
not that everything was not tidy and properly
located but the dlreful result Of the thunderbolt
apparent. Closed and deserted and that, too
at midday. week since 1t resoHnded with busy
hum, the chinking or gold, quick and energetic
versatton OF approaching and recedlng steps, and,
In fine, with the thrifty tone OF money. Down,
down, down with the crash II came sudden
as 1t was unexpected, startling as IL was
ruinous In its sad etfects. The drowning man will
grasp at anything; the sinking firm caught their
fellows by the heels. The death struggle was ter
rble one, but, exhausted by the sharp and decisive
contest, Beden & Co. sank in the sea-
REPoRTER-"Do you hope ever to resume bust.
ness here ~
ANswER-"That cannot say. We hope for the
best, but fear the worstn
elias the failure OF your firm affected many
Others ~
"When man is down, sir, the world cannot
speak too barshly Of him. At present 1t is imposs
BILE for me to state with any degree OF certainty how
many firms may have been affected by 1t. My Beliefs
however that good number must have felt Its in
auence, more or less.n
"The immediate cause OF your failure was -?v
"Wcl scarcely like to say 1t, but breaches OF
faith on the part Of principals Affected great many
firms considerably. You see the large sales by the
government contributed In great degree TO pro-
duce an excited market To be sure, the crash
might have come earlier-the crash was coming
with sure and steady step. The government sale
was generally regarded as the prelude OF the dsas-
trous event that was speedily TO cuiminate.n
IL would like TO inquire whether there was not
TO bring about your embarrassment
"Wel, l cannot say there was we were treated
most courteousiy throughout though peubsps GER
tain principals contributed somewhat TO eliminate
the event. one thing is certaln-that the panic
viii be productive OF some good results, nasmucn
as spectators win be more cautious In future.
There has been loud cry OF Indignation against the
bulls My opinion is that the bears were equally
TO blame. In fact, II this matter were thoroughly
Investigated you would find that the bears were
responsible for the whole movement. They had just
emerged from successful campaign-had just |
escaped with their spoils. when the bulls were deter
mined to have revenge You know that gold had been
up as high as l4iH, and they forced 1t down to
1917. They complained bitterly when 1t got up 10
1856 and earnestly beseeched the interference OF gov
AS II gradually assembled they became |
very decided in their action, and when gold reached
l43 they clamored wildly"
Glow was The affair directly brought aDoutfr
"A clique was formed. | need scarcely inform
you that there is no great movement In the market
az any time that is not the result OF combination
In fact there has never been anything OF the Kind
that has not been plotted by clique.n
''aaye You entirely suspended busnessfn
eyes, the cause being the break In the market
We have been endeavorng TO make some arrange
ment but at present the firm is entirely suspended.n
"What do you mink OF the situation generally ~
"When the storm shall have abated better tone
han has heretofore characterized the market Will
prevail, though IL VIII certainly take
some time to bring matters 90 their proper comm.
lon.n
WIDE AWAKE.
ny st. PAUL. the work goes brayey on. These
names were In every mouth-Smiih, Gould n
Martin. Everybody winKed when they men
ioned them-smart chaps-some growed, and
vice as many groaned when their man.
ruvre became widely known. smith,
lapper little fellow, with pair OF mnny
,eering eyes-a pair that could dive into your
rocket without the trouble OF opening your coat-a
Ioung man who has learned that two and two do
lot make aye--Mr. smith, let 1t be known for those
n search OF gold was yesterday alive to the situa-