New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-09-22

any security, and they were compelled TO suspend.
tomers account "a they found by examination OF their
hooks that their margins had been amply secured They
cXUeeted 10 be able in day two but, IKE
a.. o,Ser rntortunates were waiting what would
ne the course OF the Stock Exchange
M Fitch OF the firm OF Fitch Co., said that they
vsra NOT specuatinc house, and had failed entirely
their commission business Their customers failed 10
1neI NV their MARGINS and they were swept away They
nod prepared no statement there had not been suii
i@nt tme and the excited state OF affairs rendered 10
olen.ihe In such cases sometimes customers came
m he assistance Of their brokers and sometimes they
did not; Il depended upon their individual honesty II
make good their MARGINS they would resume and be
rich N they should fail 20 do 80 they would nave 10 90
under They hoped for the best, but could not see
W. e. Conner said that he gave way at p. on Fri
n he had been able to deliver stock sold he would have
been able 60 through Tor his customers would have
come TO his aid their margins. Nearly w 10 the
bonT of his suspension he had gold stock n the Stock
Exchange, hut in every instance IL had been for the
heneat of his creditors who all satisfied with his
eourse He was much annoyed at a statement that he
had been the OF Berdels failure; he said that
f6e only transaction between them had been in 100
shares OF Hartford and Erie. and this had been can
celed by mutual agreement when the troubles came on
He Thought there would have be general clearing OF
accounts on the principle of the banking Cearing house
II this were done the Stock Exchange reopened,
he Thought many OF the suspended houses themselves
among the number would be able 10 go right on.
Mr.. Whittemore, of the firm of Whittemore Ander,
Prudence when they found the stocks OF their Gus
TONERS falling below their margins ana their customers
failing respond to their calls They expected then TO
resume on Saturday, and thus their place III the
Stock Exchange but the closing OF the Exchange had
put stop TO everything with what result they could
not tell. 49,, .
Mr. schanck, of the firm Of Jacob Little Co, said
that they had been mixed In stock speculaons,
and that their suspension due to the utter mpossi
bty Of obtaining money except at ruinous rates lie
could say nothing Of their situation additional to what
was said on Friday they had been unable to learn
ANYTHING new stocks practically without value,
because rs the Stock Exchange was closed, no legl
mate business could be transacted in them, and they
could not be delivered received He expected the
house TO nav it's liabilities in full and TO resume when
things became quiet He thought that the Stock Ex-
change would remain closed until there was general
clearing. 4.
f. ID. Randolph of Randolph & Co., was reluctant TO
speak on the subject Of the condition OF the street say
ing that il was becoming man under suspension mol
to be too ready volunteer opinions He said It was
impossible tell yet the condition OF their anars
Everybody practically under SUSPENSION tle closing
of the Stock Exchange having placed CLOAK over tho
entire street II had taken the same course FRIDAY
morning the cloak would have covered them. 1t was
impossible to say how many might have gone under
during The day if transactions had not been stopped
He thought that in that case, many OF the banks Woud
have been forced suspend they had such dstrust
of each that they refused to take each others Ger
tihcaOus Everything in state OF confusion, ana
nothing could he known or predicted with certainty