Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1873-09-27

be trouble on clearing gold at the Ex-
change bank. On inquiry it was found
that two dealers were behind-hand with
their statements, and did not care about
paying the high loan-rate for the use of
coin with which TO clear. The temper
of the market at this time was such that
if q clearance had not been made new
panic would have resulted. The officers
of the Gold Exchange bank did their
best 20 secure clearing, and finally sue
ceeded.
THE MARKET WAS VERY EXCITED,
and the price moved up to 1141, against
1l14 at the opening. The first failure
of the produce exchange reported is
very respectable, though not one of the
largest houses, whose credit has hither-
to been first-class. 1t has, it is said,
been forced to succumb in consequence
of trouble in the pork trade. Name not
given.
ANOTHER BREEZE.
The announcement of the suspension
of four Chicago banks created tempor-
ary depression, but press dispatches re-
assuring in tone soon restored conf
dence.
The leading members of the produce
exchange were interviewed to-day, with
the
FOLLOWING RESULT:
No very bad effect as yet has extended
to the flour trade, and dealers have ev-
cry confidence that their business is to
suffer no serious injury. They are run
ming slowly and carefully, and are TAX
ing wise precaution against disaster.
Fortunately stocks are moderate for the
season, and receivers are not pressing |
sales. Shipping grades have declined |
Soc, and family grades 25c., on the bar
rel. The heaviest consignees have adj |
vised Withholding of drafts by western |
parties as precautionary measure only. !
Provision dealers expressed very similar |
views. The shipping movement was
checked and unless the block was short !
ly relieved there would be sacrifices. |
The only relief is in
FREE EXCHANGE.
There was a small business in lard on
the part of spectators. In the general |
packing and shipping trade things are |
tightening, but exchanges can yet be |
so d at some price. The feeling among |
grain men is likewise reassuring. There |
are eroakers, of course, and there a few |
who have more reason than others to /
apprehend difficulty, because they have |
more on their hands than they can carry |
long. But the common sentiments not
withstanding that grain has got tostand |
the brunt of the trouble in the CONNER |
cial world, it is yet the most solid and /
substantial interest in the whole coun- |
try.
CONSIDERABLE GRAIN WAS PURCHASED |
to-day for steamers sailing tomorrow. |
i / Of
the cotton exchange to-day and great |
many sales were made for October. |
Prices varied little from those on Thurs
day. The arrival of cotton to-day were, |
from Galveston, 1859 bales; Charleston, |
225; Wilmington, II; Norfolk, 313, and |
Richmond, 129. Total, 2233.
FISK d HATCH.
Mr.. Harvey Fisk, of Fisk & Hatch, |
states that the house has its statements |
nearly completed, and that the next |
news from them will be a resumption of |
payment, as their depositOrs are willing |
to assist in setting the wheels again in
motion, and their securities are ready /
for realization as soon as there is a |
chance to use them.
HENRY CLEwS & co.
Henry Clews & Co. have issued cir
cular, in which they say: owe propose
to continue our business as heretofore
by receiving special deposits in trust for
new accounts, pledged only to payments
drawn against such new accounts, and
shall collect and realize upon our loans,
securities and other assets as fast as pos
sible, and make payments as prompt as
some shall be realized, or until the entire
amount shall be liquidated, interest be-
ing paid as heretofore Their numerous
friends aud depositors in this city ap-
prove entirely Of the plan, and have
already signified their readiness to con-
tinue their business and deposits as pro-
posed.
SUMMARY OF JAY COOKE d cos.
STATEMENT,
PHILADELPHIA, September ga
ST the assets and liabilities of
the firm of Jay Cooke & Co., Of Chicago,
New York, and Washington, has been
by them, which is to be sub
mitted to their creditors. The following
Is summary Liabilities, 81, ,939, 400; As
sets, bills receivable at bank, insurance
and stocks, bonds, and real estate,
81, ,S67, $40: loans to the Northern Paci-
fic railroad company on bonds, $780,
BOO; stock Of Oregon steam navigation
company, 81, 500, 0CO; loans to the
Northern Pacific railroad company on
bonds of the company, S4,068, ,215; sec
railroad bonds, stocks,
ETC., g, $50. 1856. Total, Sl5, $685. ,21l. The
above liabilities are exclusive of
81, ,701 ,140 loans of a firm which are
fully secured by good collaterals. The
excess of collaterals upon these loans has
been estimated and included in assets.
The firm expects soon TO submit prop
1sition for settlement with its credit (
1rs, which it believes will be acceptable, 1
70 the latter, although it will, of course,
require time III the conversion of its as
sets. The handsome showing leaves no [
ioubt of its ability to pay every dollar of I
It's Indebtedness with interest, and still [
20 have a surplus of several million dol
ars. A gratifying feature of the above
exhibit is though the embarrassment Of
,he firm has been occasioned by its large
advances to the Northern Pacific and
roads, which it was carrying
Turing period of unprecedented mon
.tary stringency, its resources outside
If these advonces are amply sufficient to
ecure all of its creditors from ultimate
oss.
PANIC PARAGRAPHS.