The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-09-27

the firm. Martin, the Junior partner, is known
ON the street as "Ihe Spider" and has been born
and bred a broker.
William Heath, the principal member of
Heath d. Co., entered Wall street some years
ago, and by ,persevering industry made u for
tune. He is known the American deer, from
the fact that his rate of progression never ex-
ceeds two miles an hour.
These are the principal men connected with
the panic.
The Gold Bank During the Day.
Our reporter obtained admission during the
day to the Gold Exchange Bank. Mr.. Benedict
the President of the Bank, and a staff of thirty
clerks were busily engaged drawing out clear
ances The desks of the Office were covered
with ponderous ledgers and exchange sales
books, piles of pass-books were heaped on the
floor, and the clerks coats off aud shirts turned
up, were handling their pens at lively rate.
Every now and then the President drOpned
around to see how they were getting on aud
smile of satisfaction appeared on his face as he
saw balance after balance made out and checked.
Night O'er the scene.
Wall street presented a gloomy aspect last
night; the heavy rain flooded the pathways and
scattered the sight-seers. The policemen
wrapped in their waterproof coats, paraded up
and down in silCnce the few watchmen and pri-
vate detectives clustered together in doorways
chatting and smoking. Nothing broke the mo-
notony OF the silence but the football of some
passer-by FLASHING through the wet and mud
Lights in some offices showed that work was
being done.
Niiam Heath N Company.
In this office large number of clerks were
gathered together and in the private room of
the firm n supper was spread for their especial
comfort. The principal clerk, in answer to a
question, said;-"The general belief is that
Smith, Gould ~ Martin will have to accept the
gold and we will come out all right" The
utmost anxiety was displayed as to the action of
the Gold Exchange Bank, and it is upon their
report that the whole interest of the affair
hinges. 1t is stated by Mr.. Heath, and believed
redeem their liabilities and preserve their COM
mercial integrity.
Preparing for the Morn.
In the Office of Smith, Gould u Martin the
state of affairs was kept very quiet. Messrs.
Smith, Martin and Gould had been in their
Office up to $50 o'clock, when they left in a
| carriage. Mr. Martin, it is said, went to his
| home in Brooklyn, but where the three were
after o'clock was entirely unknown by the
| general public. Our reporter, however, ascer-
| tanned that three gentlemen were closeted with
| Mr.. Fisk in his private Office in Twenty-third
| street, from o'clock to a late hour
last night That this conference nc dS re-
| apparent by the fact that telegraphic operator
remained in the Wall street office all night re-
| ceiving kilograms for the Gold Exchange Bank
| from the conclave. The decision arrived at by
| this meeting could not with certainty be ascer-
tanned, but it is alleged by the parties interested
that Smith, Gould & Martin will, under the ad
| vice and support of Mr.. Fisk, accept the gold
| such conference being held and telegraphc
| dispatches being constantly sent to the Gold
| Bank, is deemed by the brokers q strong con-
| frmation of the above statement.
The Gold Bank ut Night.
In the night time rigid guard was kept by the
officers connected with the bank, and no person
except those having the eRtree could obtain ad-
mission. The hall of the building was filled with
private watchmen and detectives. Mr. Benedicts
carriage waited outside and inside all was work.
The World reporter, on visiting the premises
about O'clock found Mr.. Benedict engaged in
overseeing the clerks. Every now and then
| clerk would call ''Messrs --- and Company
and another would reply, Fifteen hundred
| certified" as the case might be. An immense
amount OF work was got through Saturday night
| and yesterday.
volved, and the peculiar difficulties arising from
| mixed stocks and gold accounts, with the tre-
| mendous sum under investigation, five hundred
million dollars, all combined to render the task
difficult and tedious one. The clerks, however,
worked like men; they stripped to their work at
| the approach of night time, and went through
| pile of business How they did sling ledgers
around The sweat rolled down their toreheads
| and on their checks. They did not waste much
| time brushing it off. Balance after balance was
| cleared and drawn up. Account after account
was straightened and at o'clock the clerks re-
| tired for a rest.
They resumed work shortly after Mr.. Bene-
! dict, the President, said that he expected to
| have all the clearances made by to-day. In an
| sWer to question, he said that Smith, Gould &
! Martin would probably come out all right; the
clearances then made had resulted favorably
He trusted that all would prove the same In
any case the Gold Exchange Bank was safe from
everything.
Midnight I'm the Gold Bank.
Still the work goes on, and clearance after
| clearance is made. The candles stuck into bot
ties in the clearing-room, grow DINNER and
DINNER; their light grows less; yet the clerks
call their rolls and check their accounts as regu-
lar as clock-work. They have had busy time;
since Friday at o'clock they have labored with
out intermission. Now a total is called, and
tall man marks off balance with his red pencil
calling out ''all right.' Another firm saved from
bankruptcy. In the Beard-room, close by there
are sitting the committee appointed by the Gold
! Board to Investigate the Transactions.
The following gentlemen compose the board:
r. w. Martin, Jr., r. W. Edwards, G. Gray,
Richard Lounsberry, Mr.. Millikin. In the
| Board room are Messrs Martin Smith. Gould.
| Fisk, and Heath. General Belden about
whom an infamous rumor was circulated,
is also present. Everything tends to show q
satisfactory settlement of the money question
In conversation between Mr.. Benedict, the
bank President and the representative of the
| W0Ttd, the following remarks were made:-
Reporter-Mr. Benedict, how do you think
| Smith, Martin ~ Gould will come out?
Mr.. Benedct-Oh, they are all right.
RepQrter-1ou think then, they viii take up
the gold?
Mr.. Benedict-Yes,
Reporter am Very glad of that, they being the
principal parties in this affair; but what about
| Heath " Co.
Mr., Beuedict-Oh, they are all right also
going into his office
The remaining balances are being struck by
| the clerks.
The Run on the Tenth National Bank
| was great topic of conversation among those
brokers, bankers, and clerks who were at theil
| work Yesterday. IL was generally regarded as
| no nit of, mi m a Of tVVn m