The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-11-12
of them will be forced to suspend, and good
feeling now prevails. The Chicago calamity
was much worse in Its effects than this can be.
NYM
versal Unes.siness and Numerous sus-
pensions.


of the Boston disaster. Prices Of all securities
declined from to 10 per cent. The following
suspensions are announced: 8. o. White, Pei
lot, Perry & Co., b. A. Wilcox, R. J. Kimball
& Co. These firms we're all Oh the long side
of the market, and their stocks were to day
sold out under the rule. Stocks are now
steader, and 1t would appear that The worst is
over. Gold opened at ll4@ll4t. No intorma-
ton has yet been received regarding The action
of the Treasury Department.
EvENrNa.-The panicky feeling ls dying out,
although but little business has been trans
acted to-day In wool, hardware, leather or
dry goods Judge Richardson, assistant sec
retary of the treasury, has been consulting
with capitalists, and 1t ia stated that Secretary
Boutwell, has stopped the Withdrawal rom
the banks OF the greelbacks Deposited some
time since to relieve the market. Gola ID
more quiet at 133. The suspension OF BoWles
Brothers, of London, has no effect upon tnis
market. Several failures are rumored, Dut
nothing definite Is known. There is great de-
pression In stocks. Cotton, groceries and
breadstuffs are without marked change. but
wool. leather, boots and shoes are held In e1-
pectatlon OF material advances.
Better News from Warrington.
Z. e WASHINGTON, November II.
The secretary of the treasury this morning
received telegram from the president of the
Merchants Bank o! Boston, saying, ere is no
reason for panic II the banks stand firm.
The loss ls large, but 1t falls upoh persons
who generally are able to sustain 1t. Another
telegram to The secretary, dated New YORK
this morning, says the disposition to create q
panic is abated, and the writer gratultousy
suggests that there is no need for the secre-
tary to fear anything financially. Information
has been received that 30 far as the treasury
Is concerned no losses have been sustained by
the fre-ths funds and books being unlnjured.
It is thought at the treasury that the fire will
produce no serious effect on the finances OF
the country. The probabilities. are that Bout
well. Will notinterfere. ~ ':''5'i ~
The Cincinnati Bankers Cautious.
CINCINNATI, November II.
;; The banks here are generally pursuing
conservative course. They are accommods-
ting their customers, but there seems to be
general disposition among them to act care
fully until they can more accurately weigh the
probable consequences OF the disaster.
The Havoc Among tho Banks.
BOSTON, November II.
Three of the seven banks burned have failed
to settle at the clearing house, namely the
shawmut, Fireman's and North American. The
Mount Vernon, Hide and Leather and Everett
Banks saved most of their valuables. The sa-
Wings banks are all secure.
A Staggering Blow to tho Insurance
CompanieE-Actlon OF tho Board OF
Underwriters.
NEW YORK, November II.
Nearly all the insurance companies have
their windows placarded with statements OF
their condition. The heaviest losers are the
large companies, who are the best able to
stand 1t.
The board of underwriters held meeting
this morning, and in order to prevent policy
holders from transferring their policies to
other companies, advanced rates on merchan-
disc fifty per cent. on all special risks, twenty
five per cent. OF the Increase to take effect
Immediately. An insurance company of Hart
ford, Conn.,, has 5ulletined at its office here
that its losses by the Boston fire will not e1-
oead one million, and that its financial
status will not be affected thereby, Its capital
being five millions.
It ia stated that only three insurance COM
panles here have suspended, namely, the In
ternational, the Corn Exchange and the
Humboldt. President Oakley, OF the board
of underwriters, estimates the insurnce loss In
Boston to be net over one hundred million
dollars.
Not 90 BAD ~ 1t Might Be.
BOSTON, November II.
The local Insurance companies will be able
to pay about fifty per cent. of the losses, but
capitalists are coming forward literally, and
they all may be able to continue business.
The average loss Is about half million, bus
the loss of two companies reach nine hundred
thousand each. It is believed that the insur-
ance risks are more widely spread than at
Chicago, and will not come go hard on the
companies.
Tho Losses In Philadelphia.
PHILADELPHIA, November IL.
The Insurance companies here lose about
two millions.