The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1873-09-30
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.MoRntNa4sgPp,r:
| The banks. The tightness in the money
market is likely to cripple business Ii
bullion and Corea for q few weeks, com
pelling the suspension Of the smelters. 4
Improved Condition OF Affairs al
Cincinnati. 10
CINCINNATI, Sept. 29.-There has beer
well defined Improvement here to-day
In feeling with reference TO the financial
disturbances Of the country. The days
wofkswitlfthe banks has been the most sat
isfactory since the COMMENCEMENT Of the
troubles. The deposits Of currency in a
number oi banks have been quite equal
to the demand upon them fol
currency. A good deal old paper
maturing has been renewed, and
in some instances new paper discounted
Another noticeable feature has been the
disposition Of private parties who have
been in the habit Of allowing their money
to 70 on the street, but who Of late have
not shown disposition to do anything, to
make inquiry Of street lenders as to the
terms upon which money can be placed
on the general market. A better feeling
was manifest, but still little has yet been
done TO remove the dead lock into
which matters have iallen. Orders
are here specially for provisions, but
there is little disposition to move
under existing circumstances. Hold
ers or stocks are generally firm,
hoping something may soon transpire to
Bet the wheels Of commerce Id motion,
and when this Is done lively trade isan.
ticipate1. ,
VIM. Ernst, President Of the Northern
Bank oil Kentucky, Covington, publishes
communication In to.morrow's CONNER.
fcialin) which he says the remedytor our
ttopblesis with tie banks, and that bold,
decisive and prompt action by them will
be an etficacious and Immediate remedy,
He sayslst tile New York banks flx q
ldtfimtel time1 say. she910th ofc0ctober,
when they will resume currency pay.
ments, conditional upon q like action in
the principal : cities Of the country.
Them let the banks outside ol New
York promptly respond, pledging
a hearty cooperation and resumption on
the same day. Confidence, he adds, will
quickly result. That being accomplished,
currency will again, circulate, and dead
lock beremoved. He says the work can
be accomplished In this way, and no other.
A Much More Confident Feeling In
'A'AA1 st. Louis. #
ST.. LOUIS, Sept. 29.-The financial sit.
uaiion has been very quiet to-day Ind
o much more confident feeling has been
manifested in nearly all circles. There is
great lack Of currency with which to
transact business and d;scounting Is quite
limited but the banks are mostly paying
checks In kind, and there is a decidedly
more, tranauil and, hopeful tone,Yo
Change there was more buoyant spirit,
and although the volume Of business was
notlarge there was more disposition to
operate and nearly all kinds of grain adj
vapced in price. There is still more cur.
rehcy coming to the city than going out,
and Il the banks would discount more
freely and advance on consignments busi-
ness would rapidly revive and the Ievi-
'dences' Of the panic soon disappear. - !
Washington Free from Excitement.
. oWasuseroN, Sept 29.-TheJ city is
ffee from the financial excitement sThe
recent statements received from the north
of the improved 3condiiionin affairs have
had, a tranquiljzing, effect in Washington
to such an extent that several gentlemen
connected with the banking combination
say IL TIE course d D lew days checks for
small amounts will be cashed instead Of
certified. Another favorable sign Is that
many otithe large depositors In the Wash
ington Savings Bank are concerning with
the view to tho resumption Of It's business.
Tie Tribune CallsIor the Immediate
Resnmptioni Of Specie Payments.
New YoRK, Sept. 20.-The Tribune to.
morrow will contain a leader advocating
the immediate resumption Of specie pay
men,s. 1t will say:
1.-the, country iispassing It's grandest op.
portunity since the war. There has not
been since the passage Of the legal tender
act any financial situation or crisis thatso
held out It's hands inviting to resumption.
Shall we let It 90 by? The crisis calls for
q firm hand, 70 clear head and determined
purpose. That Is all. Today opportunity
is for the country, for the dominant party,
for the President. Let him issue his
proclamation ,conveniDg Congress IN an
extra session at eight or ten days notice,
with tho sole object distinctly stated in
the call Of legislation for the immediate
resumption Of specie payment. For ten
days past the people have, done almost
nothing but stand in front OF their bal
ance sheets and inventories, and see a
rapid and constant ,shrinkage In values,
and there is no knowing when 1t
will stop, or when for the simple
reason that there Is no financial hard pan.
Some time we must 60 back to specie.
That Is admitted. Why not now 7 When
will there be a better time? When would
the whole country be more benefited by
1t than now? There ought to be states
manship enough in Congress to devise a
simple, practical method. Let President
Grant settle 1t SO far as he Is concerned
by convening Congress and putting upon
1t the responsibility Of meeting the emer.
gency" / FFiff{i TS-
The Charleston Banks Receiving
Moie than They Pay Out.
CHARLESTON, g. O., Sept. 29-At the
close Of business to- day all the banks had
received more money than they had paid
out. Currency Is scarcer. Assistant Sec
retary Sawyer telegraphs the President O.
the Chamber Of Commerce that Charles
ton will have all the relief afforded tc
other places. fs ,1sliH lHe IL
Resumption at Augusta, Ga.