The Cairo bulletin. [volume] (Cairo, Ill.) 1872-1878, 1873-09-30
photographic.
Reported Expressly for the Bulletin.
FROM NEW YORK.
BUSINESS IMPROVING.

NEW YORK, SeptemOer ~ --Burihess
is decidedly improving ut the produce ex-
change, and Il much more hopeful feeling
i, expressed. In fact, business is said 20
DO getting back into the old channels, and
the gloomy approximations as 70 the for
elgn exchange appears t. be yielding to
brighter prospects. A meeting of the
clearing house association was held Mt the
Merchants bank this afternoon, 10 take ac.
ton on the proposition submitted By the
committee from the produce exchange to
the committee of the bank presidents this
forenoon, with the object of widening the
foreign exchange. Mr.. Dows and Mr.
Humphrey represented the produce ex-
change, and spoke in behalf .: their plan.
Tnoy desired the clearing house a;socia-
ton to appoint committee Of five, repre-
seating ss many different banks, 70 buy
mmercial bills with bill, of lsding al
the exchange, and make relusition on the
loan committee for the issue of clearing
house certificates for the benefit of snip.
pers. The proposition was referred to the
loan committee to repor. at q fuller meet
ing, which will probably be held to-mor-
row.
| DENIED.
Wesley, the receiver Of the Union
Trust company, this forenoon denied tho
report that Commoioie Vanderbilt had
returned to the company tneir loan to the
Lake Shore road.
The committee of Lhs clearing house
met this forenoon to continue the Issue OF
loan certificates. Manager Camp said
that everything looked favorable for the
banks and the public, and he could see nc
reason for further disaster.
SUSPENDED.
The Glenhsm Manufactur ring company
Hourishing corporation for more than 81
years, having extensive wooden mills a
Glcnhaven, n. T., and its Offices at 30
Broadway, suspended this forenoon. Th'
president, Dart, said it was due to the do
preston of business, and resulted directl
from the financial panic, which had pre-
vented the merchants from going on II:
? they Otherwise could. Previous to the dis
turbance in Wall street the outlook 70,
business was good lie was not prepare
to make even an approximate estimate o
! the assets or liabilities, and could not tel
, whether the suspension would be final o
, only temporary, before learning the dis
position Of the creditors. He was ais,
? unable to say whether the creditors wer,
! chiefly individual or corporation, us it il
e impossible at present to tell where III,
paper Of the company is placed.
Q THE SITUATION II IMPROVING
and bank officers state that go far as thi
city is concerned, tho present DANCE
' is passed. Money remains unquotaolo
Loans in gold were made nj fiat to pc
: cent. The gold market was influenced b,
- order of to-day to prepay the Novembe
interest, and further remittsnces of col
70 from London to New York Tho pric
declined from l3l to NJ recovered t
:. l2ss, and closed l2.. The prepayment Q
l., tho November interest ut the treasury tC
- day, only amounted to $500. Foreig
; exchange generally quiet, and for activ
g business quoted at 1908. CImm9rcia
IF bills sold al the way from to -, Tn
oi assistant treasurer paid out to-day $50, OOI
4 la carly street dealings in stock a wea
1i feeling predominsted, but Il iirmer ton
- soon set in and continued throughout tn
v day, Dividend paying shares were i
&c good demand, and in small supply at i'm
~ proving prices at the close.
~ WHAT JAY GOULD GAYS.
:" NEw York, September 29.-Jay Goul
~ being asked for his views concerning I'll
financial situation gave them as follow,
no II think the panic is over. have ever
- faith now in an advance in prices and b.
~ leve the market will be more buoyal
,r than for long time. Wall street has bee
n. cleared out of tho greater par. Of wort
~ less stock and so-called securities by Il
NJ purging process panic, ard there Al
n comparatively few stocks now quoted o,
ar cept those of real value. la all prices a,
I'd too lo~ in that Of great dividend psyin
m stocks, very large advance are necessary
bring them up to their actual worth. II
j. reasons for an advance are that tho none
of market will becOme easy ms soon