The Cairo daily bulletin. (Cairo, Ill.) 1870-1872, 1871-10-13

pe looked to not only here but elsewhere
win great interest. II seems to me that
ALL Is NOT LOST.
that the cool, calm Judgment the uncon.
du"rable energy, the industry and brain.
OF Chicago, at least. are left to us. /,
seems to me that at thi- time of all other.
we have need to be calm, discreet and
courageous. A disaster Of the most seri.
Gus kind imaginable has befallen us, bu,
there are evidences that the disaster is no;
SO great as we have estimated. From con-
! Versations have had with gentlemen con-
herted with the insurance department OF
ana commerce, ] am assured that we shall
| be very
GREATLY DISAPPOINTED
| IN few days in hearing CT the response
oilities and capacity to pay which exists
among the Insurance companies Of the
| country; and instead of z 10. Is. or even
| 20 or 30 per cent Of losses paid. / have
| great hopes We shall find the insurance
companies Of the country pay so per cent
| upon the amount Of insurance losses to tho
/ city.
HOPE
II thi, is SO. it make, all the property
that we have left. II makes the bills re-
c"iYabic Of our banks worth much more
than We have anticipated, and / have a
deep ana profound hope, based on calm
and mature Judgment and reflection for
the past Two day, that events will prove
that tho banks Of the city a. mas, are
solvent, and will be able 20 pay the last
dollar Of the amount Of their Indebtedness.
Of course this is my individual opinion
only. | may be mistaken, but | believe
looking at things n they are and facing
the worst, that the result j. within bounds
Of hope and possibility. but to accomplish
that there ha. got to De some uniformity Of
action On the part Of the
ASSOCIATED BANKS
Of thi, city. We must take care of our
assct- there must be concert of action
to enable u to do that, and it i. for this
meeting to determine what course Of ac-
tion shall be taken. Ii is for this meeting
70 decide Gu lmIv, coolly and dispass;onately
the course that is
BEST FOR THE PEOPLE
Of this city and the whole northwestern
banking interest To- pursue It's apparent
10 every practical busnes, man. and to
every body who knows anything about
finances or the condition Of the banks of
any city, that it is utterly impossible for
the bank: tomorrow to pay their deposit
ors their deposits, amounting 10 between
TWENTY AND THIRTY MILLION DOLLARS.
OF that sum. perhaps in the aggregate
%, 80 or 40 per cent 1 am not able to say |
exactly how much Of the assets are imme- |
diately available, supposing the cash in |
the vaults 10 have been saved. and learn |
that all the vaults 20 far "a heard from |
are supposed to be safe.
SO tar as the money i, concerned. that
Of course does not pay the amount Of the
depo,itors, The principal things for u
to determine. Il, banker. shall We proceed |
in the transaction Of our business? 1t is !
manifestly; it would be unreas sonabe in ,
any cXigency much less in this city, if .
the banks should re,uMc business to-mor.
row or next day. to allow few favored /
individuals who should first reach the |
counters Of the banks. to withdraw their .
money; it would cripple. it would almost
destroy the remaining
RESOURCES Of OUR PEOPLE.
That cannot be done; there must be-
some plan Of action adopted by which, with
due regard for the interst, of those who
have lost everything, and those who saved
something; the business of the city and
country can be protected, and some facil-
ties extended to the bushes. of the future.
This is what we have met to decide upon,
and talk about. There are some other
things connected with it which ought TO
receive our attention in a general way.
FUTURE ARRANGEMENTS
One is, how desirable it may be for the
banks in the future to approximate in their
locality AS near rs possible. II would bet
source Of inconvenience TO have the banks
scattered miles apart, whose business in .
terests come 50 directly together, but after |
all, the important question to determine is |
how, in the event of our opening our doors, !
we shall proceed. As said in the begin !
ming, it may be much more hopeful gener- |
ally in the outcome and | believe that il j. /
to our interests and integrity to carry the /
city of Chicago through, Mr. Smith full
ly concurred in the remarks made. What
was necessary was immediate action and
he moved the appointment by the chair
man Of a committee of five TO frame re,o-
luton, TO submit to the meeting.
BANNING COMMITTEE.
The following committee were appoint
ID; Mr.. Smith, chairman Mr.. Blair, of !
he Merchants National bank; Mr..
Pearcc, of the Third National hank; Mr..
aidway, Of the State, Savings bank, and
Nr. Ramsay, president of the Corn En-
hange bank, who retired to perform the
uty assigned them. Mr.. Coobaugh said ,
e had noticed the representatives of sev. ,
raj of the most important railroad lines ,
we're present, and it would be source Of ,
much qualification to many Of the gentle {
lcn assembled if they would give some I
Npre,sion of opinion in regard to their |
urpo,es and views.
THE RAILROADS SPEAK.
Mr., Hough said that Messrs Gait and ,
y kes had expected to find the representa- !
vcs of other roads present, but not find )
lg them, they deemed it best 20 consult I
nth other railroad men, as they could only t
peak for their own roads, and desired con- ,
ert of action. Y
Mr.. iough moved the appointment of
OF three to confer with the rail '
,ad representatives. Mr.. Wm. Slurgess
lought it impracticable for the committee
resolutions to report at once, and moved
n adjournment till 0 o'clock tomorrow