The new North-west. [volume] (Deer Lodge, Mont.) 1869-1897, 1873-09-20

TELEG RIA PHIC!


AF.uAnclAl ca1oD.s 81
Jay ossss q oea0n.v ssslsA
Ph''seslpais. Sepass bes A. THE orm Of
Jay Cooke 4 ca. has susreoded. A great
cr,wd 10 nOw Collected around their place
Of business.
New York, September l6.-Therc 10 .
great excitement On the street 10 cont eQeencs
OF the announcement OF The failure Of Jay
Csole q c.. Tie question geuesally hsk@
10 who nextl" Stocks took . tumble
,esassslly, oaussd - nseh W apprehension
Of The fa,urs stytse ssis'isg cosai'son OF
Affairs. -
Promtssas Waii ssteess mes s.tsibuse The
suspension 81 Ne Arm not % much y DE
elFor, to sustain The PhiladelphiA House .
10 ito operations In the Northern Pacific,
which !, 70 said they sought 10 carry bsyosA
their strength. Il 10 expected the Life IN.
surance Co. with which Jay Cooke q 20.
ore connected may have 70 90 under It's
also ssid Jay Cooke hos lost large sums
In the recent gold mOvenent, and another
rumor 10 shae the ughtness In tho moecy
market and inability to dispose ct his paper.
hurried the suspension. The drm ssy they
arc uusbIs 10 make any further statement
ave that they expect to resume business In
a;phort time. IL. -@ "s.i. a-".'t. ,
Philadelphia, Sept 1S.-The following
card hss bseu posted on The once door OF
Jay Cooke & Co. In THE city: :"sas
I'VE regret u b. obliged 70 announce that
owing 70 unexpected demands on % osr
Office has been obliged to suspend payment.
In . few days Ne will be abb I" present ,
statement Of our affairs to our CREDITOR,
until Which time We must ask for their pa.
lient consideration. We believe our assetts
10 be largely In excess Of our liabilities. "a
(''sieucd) jar Cooks 4 Co."
Washington, Sept. la.-The lot National
Bank hes suspended. "a d.. ....'' j.
New Yosk, Sept 1S.-The excitement ID
intense u The Stock Exchange. Vanderbilt
stands ~ BID and The Central, and Lake
Shore end Pacific Mail 40 carried 20 far,
but The Western Union dropped from % to
7st. Money 10 quiss-07. gold. il @s's1s"a
No failures other than Jay Cooke q Co.
are suucunced. II Il said Jay Cooke, Me-
CulIoch 3 Co OF London, are solvent, with
large surplus above oil liabilities Jay Cooke
q Co. promise statement this afternoon.
They say the suspension was - great sur.
prise to themselves - to the public.
There 10 = general breaking Of stocks Of
from to 10 per cent under the rush To cell
and great excitement continues. Western
Union fell from es3 10 ~; New York Cen
tral, o0} 10 SIT; Wahash, from te} % ST
Northwestern fell from 81 to ~; North
western preferred frnm u to III; Roch
Island fell from los 10 %; Pacific Mall
~ to -. ..f ..... ... ....,,f a
Washington, Sept .lS-The banking
house Of Jay Cooke 4 Co. In this city, wa
closed shortly after noon to-day, and notic'
posted that In consequence Of the Suspension
of Jay Cooke 4 Co. In New York and Phil
adslpbia, the doors would remain closed to
the present. There 10 much excitement ans
. large crowd 10 cougregstsd 10 front Of ID!
banking house. The Fist National hank
which has suspended, occupies The sam
e00sn& e .57ev zaarer's zts ar lid sdJ
i lEsv York, sspG le.-Jsy Cosss &C.
| make ~, follow,sg ssaaamess: 'sT1s in
mediate canse Of sospsaaios Of Jay Cooke
Co. vss the hrgs drawing. upoa shem b!
ihear Philadelphia house and their own Gus
TONERS during The last fortnight. Bot
houses have suffered large drain - thei
deposits 10 Consequence Of the uneasy feel
ing which has recently prevailed ssd whic
has affected more or k-ss oil hOuscs closcl
identified with railroad enterprises. Th
Philadelphia house had previously bee
weakened by large cash advances TO Ii
] Northern Pacific Railrrad Company, d
which they are the financial agenta Th
business of Jay Cooke, McColloch 4 Co
, London, 10 entirely aforementioned. Tha
house b perfectly solvent, % thes Il VI
meet all 10 outstanding drafts and letters O
credit without ,ucouvenieucing traveller,
and have large cash surplus to apply 70 h
American house. TIE ilrn IT Jay Ccoke
; Co. and IL members hAys . large amount q
real and pcrsonsl property upon which
however, they cannot immedlately reaiis'
They are conddene depositon Will b pai
7 In full. ."'"'77. .''@ '@&~t- '''. '''.s'
: Richard schell and Robinson q Suyda,
have suspended ~ No. -" #@' ~ "5
A Philadelphia dispatch says T. v
} CLARK 4 Co have suspended. @ us ~"