The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1873-09-22
BY TELE GR RAPH.
Exclusively for the Register.
Ry,the Pacific and Atlantic Line.
once, no Main Street.
WASHIN TON.
WASHINGTON, Sept. 90.

LONDON, Sept l9-Eveuing.-Th
Syndicate accounts are all in perfect or
der. There is a universal sympath,
towards Jay Cooke, McCulloch & CO.
House here, which continues transact
Ing business as usual. Signed,
A. G. CoLrELL."
WAsHIsGroN, Sept. 20.-There is tn
highest authority for stating that at
conference held in the Treasury De-
partment last night, at which promi
nent officials were present, telegraphi'
communication with tine President de-
cided that in case an offer to buy $lO,,
900 900 OF bonds did not sllay the ex
citement in New York, the Secretsly
the Treasury shall draw on the S44
100000 reserve to any extent necessary
Secretary Richardson ia in receipt o.
dispatches from New York bankers
asking him to let them have green
backs on gold and bond securities
which they will deposit with the AS
sistant Treasurer at New York. The
Secretary declines to do this oa IN {
ground that he has 10 authority.
The run on the Freedmen's Savings
Bank continued this morning. News
from New York increased the excite
ment in financial circles.
Things looks panicky, but more con-
servative men business predict Wash
iugton banks will weather the storm
successfully. As to shipment it isex'
pressed here that Secretary Richardson
instead OF offering to buy bonds did
not place the entire currency surplus
in uncertain banks Of New York, TAX
ing Government security as a collateral
The opinion is expressed that tie
President eventually decided this pol
icy to be adopted as the only means OF
sfording relief and sdverlinZ the gen.
ersl crash. The President has issued
q proclamation relieving from discrim
atipg duties, the imports on French
vessels.
The London Syndicate Accounts I'm
Good Order.
The following wrs received from
London by the Secretary OF the Trea-
surv: The Syndicate account is in per-
feet order. There is universally kind
feeling toward Jay Cooke, McCulloch
4 Co, who continue their business as
usual.
The run on the Freedmens aud
Washington City Savings Banks con-
tinues to-day, but ia much less t"an
Yesterday. The former has paid oul
sixty-three thousand dollars. Tnere
are about seventy-five perrons Che
majority being colored) awaiting tneir
turn at the counter, ard the actuary
says it is about the usual Saturday a.
ternoon crowd.
Proposed Conference with IndiaH
Agents.
Commissioner Smith left Yesterday
for Fort Sill. He will hold confer
.nce with the Indian agents in Ne
brasks and Kansas, and get their views
OF affairs OF Indian tribes IN THESE
places.
Furieus Ferney.
Forneys Sunday Chronicle replying
in an editorial on the present financial
curses, says that it appears that the
terrible results Of finaucial power low
upon us might have been averted by
timely action on the par; o. the Secre"
t,ry OF the Treasury.
The currency balance on hard, ac-
cording to the daily cash statements,
was quite large. Secretary Richardson
the day that the failure ot Jay Cooke &
Co. was announced, was urged by per
ties who knew that TIE effect o. the 81.
nouncement on the money market
would be to put out some currency IN
the shape OF the purchase OF bond'.
The Secretary did not know what he
could do, in fact he did not compre-
hend the situation. 1t was as easy for
him no purchase ten or fifteen millions
dollars worth of bonds on THURSDAY as
it will be two weeks hence. That
amount OF currency thrown upon a
a light panicky money market
would have relieved thousands and pre-
vented numerous suspensions We
understand it was not until Secreiar!
Richardson was peremptOrlIy ordeEed
pv Pr.siden, Grant to purchase bonds
that he issued order late on FRIDAY
night The opporteni;y TO do coed has
passed. The experience OF the last
week only shows the necessity OF haV'
ing a statesman Of comprehensive we've
IN the Treasury.
The Panic.
At all the hotels and public places to
day the conversation turned altogether
upon the prospect OF the renewal OF last
weeks excitement on the opening o.
business tomorrow As a genera
thing the impression vas that the WORT
10 over. Those, however, who look be
low the surface express fears OF worse
troubles 10 come Hopes are enter
tanned that the conference held to-day
in New York, between President Gran
and Secretary Richardson, may resul
in the adoption OF some mode OF relic
which will prevent further seriou
trouble.