New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-09-20
WHOLE NUMBER 1881.

lars LOT every one OF Its Indebtedness.
A Washington dispatch says Henry D.
Cooke says their house will soon resume
and depositors lose nothing. He also says
the suspension OF the Washington house
was a matter Of expediency, and that time
will show them to be in q sound condition.
Secretary Richardson, who is advised as
TO the cause of the suspension of Jay Cooke
IL Co.. expressed the opinion that the sns
pension will be temporary. and that their
assets will be found !a excess @! their liza
blitiese
Excitement ut Washington.
WAsHINGTON. September l9.-Dispatches
from all cities report long lines of depositors
crowding the bank doors. This city is no
exception.
There is quite a rush on the Washington
City Savings Bank, and a slight demOnstra-
ton ON the F'reedmen's Bank. Both give
assurances of their ability to meet all de-
mands. The Freedmen's Savings Bank re-
port that they had this morning $S0,0OO of
which only $4,000 had been drawn.
There are about seventy-tive persons in
line at this bank.
There is no excitement about the other
banks.
Action Of the Authorities mt the Capitol.
Various rumors have been in circulation
throughout the day as to the action the
Secretary of the Treasury would take in
order to relieve the financial pressure in
New York and elsewhere, and kilograms
were sent hence by private parties profess
ing to give the programme adopted by
him, after. it was alleged. a con-
ference with Grant, who was reported
not in Washington, but at 1870 A. NJ.
General Babcock called at the Treasury
Department and had a private interview
with the Secretary. Subsequently numer-
GUS inquiries were made of the Secretary,
to which he uniformly replied he had not
determined what he should do in the prem
ises, as he saw NO reason as yet why he
should interfere. and at eleven O'Clock to-
night. being interrOgated on the same sub
ject. he remarked that there was no author
ity for the various statements and rumOrs
concerning his acts or Intentions on tinan-
cial subjects. as he had determined on
nothing.
During the afternoon and evening he was
in telegraphic correspondence with the
treasury officers in New York and also
with the President. He said at the latest
interview that if he should tonight deter
mine upon any measure he would furnish
the information to the press.
AT halfpast eleven o'clock the Secretary,
in company with General BabcOck and Mr..
Conant, the chief of the loan division, were
at The telegraph office together, when he
telegraphed to the assistant Treasurer at
New York 90 purchase on Saturday $lO,-
600, 900 of bonds. This is a special sale in
addition to the regular sale next week.
The Effect In Philadelphia.
fH1LADELpEIA, September l9.-The fol-
lowing have suspended: II. II. Douglass
Bayari. J. II. Yerkes, John L. Lloyd, Gill
baugh s. Co, all small firm, except Gill
baugh.
The feeling here is that the wors. is past,
and that tomorrow will witness decided
change for the better.
1t is authoritatively stated that neither
che State nor city funds are disturbed.
Run on the Philadelphia Banks.
The Fidelity Trust Company did not
close 1t 3 7. NJ. but continued so meet all
demands, receiving checks as late as five
o'clock. at which hour over S9OO,000 had
been paid 0ue. Mr.. Brown, the president,
said lie would keep open until midnight, if
i, was necessary, to show depostOrs that
the institution was in sound condition and
able to meet all claims.
The Union Banking Company was run
upon up to the hour Of closing. three
o'clock, at which hour about 500, 900 had
been paid out. There was something Of a
run on the First National also. but it did
nos amount TO much.
The NnfEev is Ci.c innDsis
! CIsCISSATI, September l9.-NeWs con.
eerniny the New York failures has been
! sought today with a great deal OF interest.
but has produced no excitement. There is
| feeling of general security with reference
to OUT banks here, and 40 apprehensions
are telt concerning our dealers in stocks
The transactions in stocks during the last
one or two months are said TO have been
! unusually small. The impression appears
general ia our financial circles chat the reg
ular business interests OF 1be county will
! not Doe seriously affected.
Re Eaciielncns IN 81. Isuis.
ST. Louis, September l9.-There was
NO excitement here to-day from fhe
! panic in Sew York. Business on
J Change was very quiet and outside OF d
| small decline in wheat and bacon, from
| local causes. nothing unusual is noticeable
| In monetary circles and among banks and
! brokers every rthiug is calm and confident
None of our banks have large balances il
! New York; what they have are in old cor
| poratssi institutions, therefore no fears are
| entertained Of losses. There has actual )
| been no effect here IN any department OF
| trade other than slight pause, which will
! be TOO temporary to produce serious results
She o.o~dOs Nause all Right.
LosDoN, September l9.-Jay Cooke, Nc
| Culloch & CO., of this city,' have paid Oyel
! the co unter all day she run on the house.
SP. M.-The firm of Jay Cooke. McCul
| loch e. Co, OF this city, paid cash ovel
I it's counter all day. notwithstanding tht
| rUa on the house.