Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1873-09-24

hHeETcsfueh' views OH the situation.
! WASHINGTON, Sept. 22.-In the course
of the morning the President called at the
Treasury Department and had conference
| with Secretary Richardson. The result of
! it may be inferred from the fact that subse-
quently the Secretary stated to the agent
of the New York Associated Press that the
President will do anything within the law
but will in no particular go beyond his
clear legal authority. He will maintain
the safety of the Treasury Department and
protect the credit of the United States from
the influences of the present financial en-
barrassment.
Jay Cooke re-asserts the solvency of the
London house.
a private dispatch from Shreveport is
dscouraglng. Pastor Hutter, of ST.
Mathews Lutheran Church of Philadel-
phia is dead, aged 81 years.
An American steamer at Newfoundland
reports acollision with fisherman, three
out of fifteen were saved.
Betting is two and three to one on Brown
for to-morrow's boat race at Halifax.
The Treasury Department denies that
the navy account fund had been transferred
from Jay Cooke, McCulloch q Co.
Judge Richardson, says he will look out
that the Government does its duty within
the law, and he knows exactly where to
ret all the funds that are necessary, but
does not intimate a word about the much
talked of legal tender reserve, furnishing
a part of the money to go to the Assistant
Treasurer at New York.
No meeting of the creditors will be held
until full statements have been received
from the various branch offices through
out the country. These are being prepared
with the utmost dispatch. The firm can
not at present say anything in regard to
the duration of their suspension.
The Clearing House statement is out
to-day, and shows that all the banks made
their clearing satisfactorily, including the
two heretofore reported in doubt.
The following are the street quotations.
showing falling off: New York Central,
81; Harlem, 106; Erie, 81 Rock Island
81; Panama, IS.
At present the excitement has complete.
ly subsidized. At the Broadway Savings
Bank, No. Park Place, business was be-
ing transacted as usual little or no ex-
element prevailing. The amount paid
up to two o'clock did not exceed $4,000,
while the proportionate amount had been
received. The bank officials do not an
ticipate run.
Shortly after the Bowery Savings Bank
opened its doors, this morning, n large
number of depostors began arriving and
it soon became evident that there was GO
ing to be q run.
The trustees met and decided 10 pay all
demands, as they did not believe that the
run would last. One of the trustees stated
that nearly all of the depositors drawing
out their money were those having small
accounts. The trustees say that they have
gets 600, GOO in government bonds, 81 ,00O,-
600 in New York and 100000 in Brook
lyn,which could be drawn on immediately,
However, if the run lasts, they will take
advantage of every notice clause in their
bylaws, but will even then pay out sums
up to 500 or $500, so as to save their de-
positors from any inconvenience.
The Union DimesSavings Bank, Canal
street, is besieged by vast throng. About
two hundred are inside. The doors are
closed, and placard in the window an
nounces that as many persons are in as can
be paid to-day. The bank is amply able
to meet the run, having on hand 81 ,5OO,-
600 in cash. They will sell to-day $500, 900
in bonds, the proceeds going to reinforce
their cash for to-moTow's run. They are
not eXacting the sixty days privilege ac-
corded by its bylaws. There are ninety
thousand depositors with the institution.
The New York Savings bank of Sixth |
Avenue, has hada run of 100000, all
checks being promptly cashed.
The Greenwich Savings bank has had |
slight run, which was promptly met.
The Blocker street Bank is paying all
checks upon presentation. A large line is |
in attendance.
The Atlantic bank is paying all checks |
of one hundred dollars and less upon pre- |
sentation. Checks of a greater amount |
are required TO abide by sixty days bylaw |
Currency for the Purchase eff ROnds Forth.
coming,
WASHINGTON, Sept. 22.-Richard Har-
rington was appointed Secretary of State, |
of this District, vice E. L. Stanton, Esq, |
resigned.
There will be q sufficient amount of cur
rencyin New York tomorrow, belonging |
to the Government to buy all the bonds !
that may be offered.
The Secretary of the Treasury has all /
that is necessary. and will lookout that |
there is enoughin the Lands of the Assist
ant Treasurer to buy everything in the
shape of Government bonds that are pre-
sented for sale.
Run ON Savings Banks.
The run on the Washington savings
banks to-day was comparatively very
slight.
Secretary Richardson received the fol-
lowing dispatch, dated at New York, to-
day: Mercantile business progresses as
usual. Wall street is already itself. The
people join in congratulations TO the Pres
dent and Secretary Richardson for their
stability. The Stock Exchange will be
opened Wednesday"
Notice from Southern Banks.
New YORK, Sept. 22.-The holders of
drafts drawn by the undersigned, who are
of Jay Cooke d Co.. are re-
ferred for honor to the banks and bankers |
set opposite their respective names, Drafts