The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-09-25
NEW YORK.

| MORE HOUSE
! NEW YORK.
New YonE. September 24.--Thc ten mil.
| lions of loan certificates are exhausted. The
associated banks will Issue ten millions more
| to-day.
| The Bank Of the Commonwealth are sued
for collateral which they cannot produce
upon tender Of the amount loaned.
| Carlton. the secretary OF the Union Trust
| COMPANY, has friends who are in treaty
with the bank for settlement OF his dc.a!ca-
| ton.
| Henry Clews claims that his securities are
far more than ample In ordinary times. He
NAV resume when the money market i'm.
proves. The published list OF their currc-
spondents includes twenty-four national
and State banks and one hundred and fifty
eight private banks.
The Stock Exchange remains closed until
| further orders.
The feeling is excited; Western Union, 81
| bid, 81 asked.
Howes & Macy have suspended.
| The Sub-Trcasury has bought half mil
lion in bonds.
Mr.. Macy. of HowcS & Macy says all houses
| like theirs. having large number of dcpos-
itors, must suspend.
LoSpoS, September 24.-Clcws, IIabitch
& Co. have decided to suspend. Thry are
| liable to the account of Henry ClcwS Il Co.
for s240,0OO. Their own liabilities are
GGIO, 600, which they can meet, but not
those of Henry Clews & Co.
| 4 Berlin dispatch announces the failure
of bank in that city.
Consols, 923 to 92s; new 5's, OIL to 9l5.
Erie, 4t; E-1s.
New YORK, September 24-2 p. IL
Brown & Watson have suspended.
| All quiet about the savings banks through
out the city. No suspensions of payment
have occurred to-day. The directors ap-
pear to be more confident.
| Two and half millions in loan certificates
| were issued to-day by the clearinghouse
and the Government bought over the same
amount in bonds.
$50 p. M-Thc streets are very quiet al
this hour. The day closes hopeful but rather
gloomy.
Money is so stringent here that no obliga
tions are contracted, and all business is lin
itcd in amount. Paper falling due is re
newed in full, or with small payment OF
account, and creditors are disposed to be in
duluent. No failure has been reported. rh,
been the first symptom of run.
PETERSBURG.
| A QUIET DAY-AN UNFOUNDED REPORT
MEETING OF TIE CITY CoUNCIL-FEDE
RAJ OFFICERS IN TIE CITY. ETC.
| correspondence of the Richmond Dispatch.l
| PETERSBURG, September 24--7 O. Clock I. "
/ All along the weary lines to-day there ha
lDreyaiIed the quiet of exhaustion. 1t il
stated that there has been no run of deposi
tors on the few remaining banks of the cit,
which have not suspended payment, and fol
this reason and for others it appears that
better feeling Of confidence is beginning t.
prevail. The Commercial Bank has bee,
: paying, learn, 4 number of tobacco check
drawn on il by farmers for the sale OF thei
produce, though only S2,250 has been drawn
| bv dcpositors-yirtually nothing. 4 wid
difference of opinion prevails as to TIN
wisdom and policy of any institution
continuing lis operations while the ma
iori,y of them are lying flat on thei
backs. The argument Of those who sustain
the banks which are still open is that they
keep alive the excitement and stimulate tht
feyered hopes, which had better be Soothct
bv absolute quiet, and that they furnish Il
media through which money is being drawn
out of the city, while none is being intro
duccd. so that our already weak body
financial is thus being depleted and reduced
The argument on the other hand is that tht
credit of the city and Of the business ele
ment of the city rests OH the maintenance o
the institutions still lett solvent.
The report OF the failure Of McsSrS. Nell
waiuc 4 Co., which was widely current yes
terdav. and to which reference was made il
this correspondence, was without founda
ton, and it appears that that old-establi>het
and aLly-managcd establishment is Sount
and solvent, and as worthy now rs ever o
the confidence of the public. In the excite
meut, which ran at fever heat yesterday
some other statements obtained credit anC
currency which were untounded. For in
stance. it was stated that Plummer. Young
& Co, went to protest on notes for SG3, 900
In truth they were protested for Il small
share in large amount which they were
bnuud for in common with others: and
while they could have met their part
they thought it best to wind up their affairs.
seeing the crash that was coming, and de-
string TO put all creditors on an equal basis
This house has the warmest sympathies OF
the entire community, the members OF il
being popular as we'll for their social and
personal worth rs for their business cha.
lactcr and high commercial standing. 1t was
also an error that Mr. George :. Richards
is president of the Peoples Savings Bank
Hon. james II. Platt, Jr., is the nominal pre-
sjdent, but Mr. T.. I. Brooks has really
been manager OF the institution for some
time past. ..
There was meeting Of the City Council
held this afternoon, at which the situation
was discussed at great length, but no action
taken except the adoption of resolution re-
ueaIing previous ordinance requiring thu
city funds to be deposited at the Merchant:
National Bank, the Peoples Savings Bank
and the First National Bank. The CouncI
was addressed by several members and b,
Captain j. ii. Chamberlayne. The follow
ing is statement of the deposits OF the Cit!
in the suspended banks:
city Fund.
AT the Merchants Bank ........ SI1,iOl -
at the Peoples Bank. ........... 3i,"9S .:
*l09,l00 3:
Louer Appomaitor improvement tnnd.
Merchants Nation ii Bank S2o,223 U