Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1873-09-19

to the public.
Governor Cooke returned from Philadelphia
Oh Wednesday, and although for some days the
firm have been aboring under the pressure Of
tho severe money stringency in there operations,
still he was fully satisfied they would avoid the
apparent danger aud meet their obligations aud
be allie 10 secure the renewal of their paper,
and the iitot information be had Of the contrary
was the dispatch announcing that tlelr New
York house and then their Philadelphia house
had closed, which Ut COURSE compelled similar
acton here.
Tho Chronicle also remarks the firm Is COM
posed Of gentlemen oi large personal wealth,
and they gave tnJ most positive assurance thar
iudviduai GepositorS shall De projected, end
thar they will IL able III short time to resume
business We are authorized to say that the
iigm have tcuU engaged in no general specula.
ti2s il. stock and nave met with no financial
disasters further than are here stated.
NEW YORK Sept i8.-All reports about
the suspension Of firms expecting Jay Cooke Il
Co.. Richard ScheiI and the small firm Of
Robiusou Suydalu l. Co. upou Investigation
proved 10 be without touajaton When this
fact was made tnowu On the street confidence
:sas again restored, and 4; the close Of business
a ger feeling prevailed. 1t IL not thought
that any other firms oi prominence vii! sue
cUlIJ
PHILADELPHIA, Sept. .,.~ihrr" arc no
new Developments tonight. Mr. Cooke will
10: be allie 70 present a statement Of BIS affairs
Tor iay or two yet While there Is excite
zen; aGioug the huslrc*s community over the
suspension, great sympathy Is expressed Tor
Mr.. Cooke, and hope onterta!i,td that hc vii
eventually weather thu storm.
The temporary Suspension Of ". +. Clarke
4 Go. was On account Ut advances On securities
10. now available From Il published state
Gent BY them it APPEARS that house viii re-
sumo bu>nesa at an carry day. The partner.
are ueu O.: wealth, ant hold large amouat Of
rc. estate il thi: city. IA !lopressioa pr27aiIs
that .;lcr assets vii! tnrn Qut to be largely III
rxc=ss Of liabilities Their investments in
Northern Pacific we're 7ery moderate.
i dispatch ccceiTed at the stock board TO-
>iay from New York to the effect that Thomas
Scot; ha,i failed crcatc! soMc uEcI,cmeo:.
many believing il referred 10 he RAILROAD king.
The latter i row ID Switzerland, and his f.
nauc5- we're uevcE better The Scot, alluded
10 IL tic dispatch. may btloDS u :0uie other
city, bat Cot ~ PAilade,p Eia.
There was TeppT; Tonight ;t:at he Fred.
tuyI saving .Gai was a.tvc.cI By the susgeu-
SION OF Cooke, hI: ou application &C the ca,;ie!
be .inpaatlca.'y denied the story There was
lo run ID the Institution, ai.I 40 ;r,lirC apple
n.,tlr.oi
I;i.'AGD. Sept l--Gonsi,iefaic excite
;Ccnl vas caused IL banking ant cctuHcrclal
circles by the !eccpt;on 0. the "e'7s II Iac al.-
urr 0! Jay Cooke \ 20.
bosrpH, September l,.-Thc suspension Of
jay Cooke 4 20. created no mar ed sensation
on State street, ;3eyouGJ the fall Of few CT the
;u0rc speculative stocks.
Especial r,patci. 10 tn Baltimore SCI
NA>u!H,rnS, September 5. IL little before
aorn today faint wniSpcrngS Of rumors that
the houses OF Jay Cooke i Co., in New
York and Philadelphia mad suspended payment
.:erc heard 10 the vicinity vf the telegraph Offices
In very short time the rumors had spread to
all public places, and were spoken more loudly.
At first there was great deal Of lncr2du:lIy OIL
all sides. The lrnl oi' Jay Cooke L Co., was
popUiagy supposed 10 be possessed of abundant
RESOURCES i0I all emergencies aud confidence N It
was no, easily shaken. Even when kilograms
were publicly exhibited stating the fact many
still! doubted. Several parties who had accounts
at the house here and who were early advised Ct
the runors, aS matter OF prccauti0n presented
themselves at the counter of the house here ADD
handed IN their checks for the amounts stauQ-
Ing 10 their credit, This action speedily solved
ali :ioubts l'a:oicn; 3t :ho checks 1as leciiu-
ed, the iocrs OF the banking house immediately
closed. unG I. Notice announcing the susptG=lon
u the Grin Ha- Hn-!c.; up, \ few minutes al
ter the doors II tEtc First National Bank were
also closed Aly. f. D. Cooke, the resident
partner III the house here, is also president of
tit:! E.:tiona! Bank, aud Tie two concerns are
intimately connected.
The suspension Of the London house, trad
ing u5der INC name o: Jay Cooke, McCuI!cch
l. Co., was also riinoled. although it was al
forwards stated that thcy would honoralI drafts
and letters Of credi, upon them from this side.
The usual crowd Soou gathered in front o.
the building occupied by Jay Cooke i Co..
and the First National Bank on Fifteenth street.
opposite the treasury. Little, if any excite
mept, however, was Displayed the convcrsa-
i;on being entirely Of a quiet nature. Two or
three ladies' ami ~ many gentlemen, who had
large deposits III one Or the other Of the insti
;u!ons drove up, took y look aud then went off.
Very few of those who were on the sidewalk
had auy persona! interest Involved. One gen
tialnan who had a balance Of $40, 900 in the
bank smiingty remarked that he should have
10 live 90 salt herring for some time to come.
The First National Bauk was the depositary
O: :he City Collector ot Washington. but as the
funds were drawn out a. fast, If not faster than
pu; in, the city will not be much Of loser
Very few Of tho business firms Of Washington
did business with either Jay Cooke 4 Co. or
the FIRST National, and It i got expected that
the mercantile community will be much Affect
Cd ~ thair suspension. The majority OF the
members Il Congress. government officers AMI
contractors. payma>tcr. and army aud paw
cheers kept their accounts with the Cookies
aud most Of the Leading i}urnois u The country
which maintain representatives mere also kept
accounts with them. Not few OF these wi!
suffer seriously if the suspension should De
GpaI. Many q the dcpositors arc now absent
from. the city which was he cause perhaps Of
80 little excitement
There has, OF course, beer 9cry little else
talked Of today and tonight. The cause Of
this stoppsge is generally AMI 10 doubt cor
rcctly attributed to The gigantic load Th!ch ha,
been carried BY Jay Cooke < &c, for :eveI2i
years il the shape Of the Northern Pacific r''l'
road bonds. Oceans Of money have been pour
ed cat by the house advertising aud ioEcirs up
Il. a. M ri1t.IU