The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1873-09-20

dertaking. 1t would nave done so but
for the demsgougical cry. shat corrup-
tions were grasping the whole domain
and overriding the rights OF the people.
The rolling stock is as follows: Loco
motive engines, 72 ; cars-passenger 10;
baggage and mail 6; emigrant 4;
dumps 25; freight platform IL; 80
box, 395; total cars, 1916. The road
being in process of construction, no ac-
count of earnings can be given. The
expenditure has been as follows: Sur
| yeys, $2l9,153; construction, Sl2, ,2OO,-
600; rolling stock, 81, ,9OS. .S3S; tools,
machinery and stock supplies. 1885,
33l; barbor i'm mprovements at Duluth,
s545, ,O63; total. $l5,S03.374.
Secretary Richardson has been
spoken to on the subject Of the suspen-
sion OF Jay Cooke & Co. and says the
Government win no. lose one dollar,
even if the failure is complete. Jay
Cook has not one dollar OF government
money in bis possession. lie may have
bonds, but be had to buy them and pay
'or them. We do not give bonds 10
them uor lend then unless they are paid
for. The Syndicate have the selling OF
the bonds They open subscriptions.
and when they come 10 the Treasury
they pay money for it. No b2nds are
given TO the Syndicate until their
equivalent in money has been
delivered to lbe Treasury. The
bonds are sold npder the regulations Of
a committee composed Of persons se-
leected by the firms composing the
Syndicate, from their own number.
The amount OF bonds disposed OF since
las: march being about sixty millions
OF dollars, the Cookies have deposited
more bonds than they have drawn
against on the Syndicate account, and
the Department owes them at least one
hundred thoueond do!lras in The Syn
dicate bonds and tNs an ant may
reach two hundred anL ii :: thousand
dollars. The suspension OF Jay Coz Ike
& Co. can hsve no possible eflec. on
the Syndicate. and Therefore | .ha !
pay no attention 10 it. The DeYar'-
ment has simply contracted wi'n
certain firms known by the harne
of Syndicate. 1t is not question
OF appointment or design; it is a suE-
iect OF contract and must be carried
out by the parties who have made the
agreements. The department hss
nothing to DO with Jay Cooke Il Co.,
but with the syndicate as a whole. The
Fret Natioual Bank is q government
depository; bu. | do not think there
was very much money in it belonging
to the government. Besij,-, we have
bond. mat will more thar cover any
lossrs aod we sna,i ne fully protected.
The government will not lose dollar.
The secretary also says that he has
saved million dollars of the navy fund
b. stopping the pay ment OF draft sent
0y the Navy Department to Jay Cooke,
McCulloc h & Co., London. 1t was
sent for the use OF our navy in foreign
waters.
The following are the banking inssi-
tutions and Trust Com pauies for which
Jay Cooke & Co. are financial agents
in this city: Freedmen's Saving and
Trust Compauy Huntsville, Alabama
Freedmen's Saving and Trust Company,
Mobile, Alabama; Jay Cooke IL Com
pany, Washington, D. c.. Jay Cooke
Il Company, Philadelphia, Pennsylva-
MIA; Firs: National Bank. Washington,
D. c.; Freedmen's Savings and Trust
Company, Jacksonville, Fla. Freed.
mems Savings and Trust Company,
Tallahassee; Freedmen's Savings aud
Trust Company, New Orleans; First
National Bank, Duluth Z. W. Clarke
IL Bro, Duluth James 7. Brady q Co.
Pittsburgh Senple & Jones, Pitts
bur-; Nelson's Bank, Montreal, Cana
de; Jay Cooke, McCuloch & Co, Lon
don, England.
A sharp reaction is reported under
announcement that Nanderbilts
brokers are buying heavily
The firms OF Beers & Edwards and
Eugene Jackson have been announced
in the Stock Exchange as failed.
Asthe panic ceases Theodore Bidell
and A. NJ. Bidder are the latest an
nounced failures.
SECOND DISPATCH.
The following is complete list OF
the failures to-day:
Fisk & Hatch, George B Ally &
Co., w. H. Warren & Co, Thos. Reed
d Co., Grecnlesf, Norris & Co, White
more Il Anlerson, Beers 4 Edwards.
Jackson & Co, White. Defreitas &
Rathburn, A. NJ. Kidder i Co., Smith,
Seamer & Co, Burdell Il Co., Hay d
Warner, Day Il Morse, Vernam & Hay,
Fitch d Co, w. G. Corner, Jacob
Little e. Co., Randolph 4 Co, making
a list OF nineteen failures as the rusult
OF to days business,
The report was circulated on the
street to-day, that Cecil, Stout Il Co.,
ha / tailed. but it was erroneous. A
report Was also circulated that George
Opdyke & Co, were embarrassed
but this is denied 10y members
from. the house. Z. D. Randolph,
whose suspension is announced, was
Thomas SCOTS New York house. RAM
dolph lie q sonin-law OF the great rail-
road king.
When the suspension OF Fisk Il
Hatch became generally known many
friends O. both partners visited their
office and extended them their warmest
sympathies Hatch says that the trou-
bic WAS brought about by a lack Of
confidence in railroad enterprises and
extreme stringercy in the money mar
ket, produced BY the late failures. The
general distrust caused by the failure
of Jay Cooke & Co. had caused grea.
demands upon other firms, which com.