New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-09-24
THE MONEY MARKET.
TUESDAY. Sent, 23-P.

TUESDAY, Sept. 23-P. NJ.
The day opened with an apparently cheerful feel
ing III every direction, and the day advanced the
prospects OF return to the normal condition of the
street become more hopeful. There was no heavy
run upon any of the banks or bankng-houses. while
the banks were transacting business with regularity,
certifying checks for large sums and paying cur
rency for small ones and their seemed to be no fears
OF their ability to weather the storm-at least all
save two or three. They all went through the
Clearinghouse without difficulty and this, with the
payment of over S3,0O0,0OO of greenbacks from the
Treasury for bonds purchased added to the hopeful
feeling OF the street. Later in the day. however,
muttenngs Of a financial storm brewing III the
West were heard, accompanied by rumors of
failures and bank suspensions in some of the
Middle Southern, and Western States, and of fail
ures OF certain dry goods houses in this city This
being supplemented by the announcement of the
failure of Henry Clews & Co., and the rumOred
failure of other bankng-houses. changed the
buoyant feeling which had prevailed earlier in the
day to one of gloom and doubt as to what the NOR
row may bring forth. The announcement of the
failure Of Henry Clews d Co., however need
excite no fears to the stability of our
strictly irst-class banking houses Their capital
was never large one but they were extended
great deal of surface, and their fame such
inspire more than ordinary confidence here in New
York, however it may have induced non-resdents
to deposit with the house. They must have had sew
era hundred thousand dollars of deposits, and their
failure is doubtless Immediately due to the fact
that they were called upon to pay. Having been
recently made our Government Agents in London
in place of the Barings, no doubt their credit re-
ceived some enhancement from this fact; and many
new parties were perhaps induced TO open accounts
with house which our Government had seemed to
recognize as stronger and safer than that of
Messrs Barring Brothers. What the Government
may lose by this failure we may perhaps
know at day IN the distant future.
1t hopeful sign of the times that the stock bro
kers are making, fast possible amicable settle
ments with each other, and are thus gradually APP
preaching asoluton of the greatest of our immediate
difficulties. While there are many outstanding
differences between Them it would seem to be folly
to open the Exchange Board. since those who have
stocks to receive and those who have stocks TO de-
liver would necessarily be ranged opposite sides,
and there would be perfectly distinct and decidedly
fierce bull and bear parties Immediately on the re-
opening of the board Therefore, as the immediate
reopening Of the Exchange would, in the opinion of
the cleares heads in the street result in the failure
of a very large number of stock houses it is pre-
sumed that the Governing Committee will delay the
opening till such time as the great mass of stock
contracts shall have been adjusted by private ar
rangement.
4 small knot Of outside brokers extemporized
yeritable open board in the street in front of the
Stock Exchange, where a few transactions were
made at the following prices