The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-09-20
THE PANIC IN WASHINGTON.
L HEAVY PRESSURE II RO u G HI T
UPON THE u. q. TREASURER.
APPEALS FOR RELIEF POUREI
IN UPON HIM.
HIS DIFFERENTIATION UNKNOWN.
WILL PROBABLY ACT TO-DAY.
TSveclul telegram 10 the Dispatch.l


! WAsHlsGroH, September 19.-The great
excitement which peryaded every quarter
of the city yesterday over the tremendous
bank failures was renewed to-day, the fever
ish feeling being far in excess of the previous
day. The announcement early in the fore
noon of the failure of Fisk & Hatch, coupled
with reports OF lowness and general decline
of stocks, created wild excitement.
A GREAT RUSH WAS MADE on THE SECRETARY
OF THE TREASURY
for some expression from him which might
allay the storm in New York. TcIegrams
from grea, many persons in that city and
Philadelphia poured into the Department
asking if the Secretary intended to take any
action; but that officer had very little to say
upon the subject Of the panic, preferring,
as it is asserted, to reserve the announce
ment of bis intentions, if any exist, until
the time arrives when in his opinion it will
be necessary for
THE GOVERNMENT TO STEP TO THE FRONT
and exert its influence TO prcvcn, Il further
spread Of the panic. A prominent Govern
inert official who haG IN interview with Sec
rctary Richardson this morning inquired Of
him what action he proposed to take in the
present crisis; to which lie replied he could
do nothin" further than 10 advertise for the
purchase of bonds. From the fact that the pro-
poSal issued for hali-millon last Wednes-
day only elected offers of tifty-iivc thousand
dollars be doubts whether an attempt to
purchase bonds would he successful to an
extent calculated to relieve the present strin-
gency. Many believe that the Treasury will
undoubtedly come to The relief of the New
York banks tomorrow, but in what manner
is not known, owing to the more than usual
disincliration TO talk upon the subject
that prevails at the Treasury Department.
There is not the slightest doubt but that the
pressure upon the Treasury to relieve the
banks by heavy purchases of bonds
WILL BE RENEWED TES-FoLD
tomorrow. Dispatches from New York in
dicate this, but every one is now in the dark
as to the result of the appeals.
Many reports are in circulation here to.
night relative to the pro liabilities of to.mor'
row, but up to very hate hour there are nc
indications of action by the Government
Leading bankers in this city
| BELIEVE THAT THE WORST IS OVER.
The run on the Frecdmen's Savings Bank
and the Washington City Savings Bank to-
day was very lively for u time. The direc'
tors still assert that they are perfectly safe
With regard to the banks in this city thai
failed yesterday, it is intimated that Jay
Cooke & Co. will resume next week. In The
case Of the First National Bank it will be
impossible for them to resume uuder theil
present organization, iii the national banking
law, under which they operate, prohibits il
Dispatches from New Eorkwerc constantly
received during the day characterizing the
| excitement as much greater than on the
eyentfu Black Friday Of $50.
TIE FAILURES REPORTED ~ NEW YORK THU;
FAR
are Fisk & Hatch, Beers Il Edwards, Eu
gene Jackson, Thomas Reed x Co., W. IL
Warner. Grcenlcar IL Morris, George B.
Alley, Robinson & Greydom, White ~ De
frees; Rathbone, Day & Morse; Hay q
Warner, Fitch & Co., L. d. Randolph & Co.
| William II. ConnOT.
FROM PHILADEL PIllA.
The suspensions OF DE Haven " Brother
II. II. Douglass, Bayard, G. II. Yerkcs, John
Lloyd, Gilbough IL Co., and Bond are an
nounced. There was a heavy run on the
Fidelity Trust Company, the uneasiness
being caused by the suspension of Clark &
Co.. who are prominent officers of that in.
latest Dispatch.