The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1873-09-24

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abundant securities in the possession
Of the house: Immeniately alter tn
closing Of the doors a number
prominent capitalist were eagerly seek
fnge Mr.. Clews,A who was not in th
office, and the assistance necessary Y
pull through the day would undoubtedl.
have been given had there been any sus
picion that the banks ,would refuse tn
payment Of Henry Clews q Co.'s check
The fact. Of the suspension created q
much excitement as the suspension CT Ja.
Cooke & 90. The news left the street
the close OF business In condition Q
great excitement, and the headway mad
In restoring confidence was In measure
lost. 'ry 81 s. ,7ity- gFT.
THE RUN ON THE SAVINGS BANKS.
" The run On the Savings banks was con
tinued to-day, but as the most of then
have adopted the time rule for paying
their depoeitora, the excitement soon sub
sided. Wherever case OF necessity trans
pired, or II that person wishing to draw
required a few hundred dollars for busi-
ness purposes, the banks accommodate
them, but where the excitement cause
the withdrawal the banks do mo-
oblige them. At some Of the banks th.
officers say the enforcement oflthe time
rule regarding the drawing Of deposits wa!
demanded bystheir largest depesitors, and
in one case II was adopted. In reference
to such suggestions several Of the larges
banks arc paying all the demands without
regard to the amount.
Some of the poor people of. Brooklyn
became alarmed regarding their money Ii
the various savings banks and drew 1t out
Only one bank took advantage Of the time
rule, the others paying as tIsual.4 The rur
was not heavy. .,-.g.
The Post says: -;"the banks have gone
through the panic 80 far all right. Il mus.
be remembered, however, that since Sat.
urday the business OF the banks, has been
simply with the merchants. THE active
accounts Of the Stock Exchange
firms having by reason OF the closing up
Of the Exchange been suspended. These
firms probably had at least 500 accounts
with the bank. The Friday and Satur.
day business oil the Stock Exchange has
still to be settled. Should tho Exchange
onen, money lenders who have failed to
get responses on the loans called might
rush in and force sales under the rule,
which would throw everything into q
panic again and linjure the banks. To
prevent such state OF affairs 1t has been
recommended that the governing COM
mittee appoint q subcommittee to,mor-
row to prescribe regulations by which
settlements may be made before the Ex.
change is opened. 1t is the duty at the
present time Of all lenders and borrowers
to treat parties to contracts with 'as much
libefality and forbesrance as Is consistent
without absolutely sacrificing legal rights.
There will undoubtedly be found mer-
ciless class who will demand their pound
Of flesh with or without blood, but 1t Is
for the interest OF all that the concessions
should be made for the public good which
now emphatically means the good Of in
dividuals. We trust that the committee
will act promptly on this suggestion d,
T, This afternoon Mayor Hayemeyer after
consulting several gentlemen decided to
issue an address on the present financial
crisis and transmit It to, o special meeting
Of the Board of; Aldermen which was
called for to-day. When asked what his
views were about the panic the Mayor said
he had intended TO advise the working
men and laborers Of this city not to con.
time the run on the various savings banks,
as he felt sure that their deposits were
perfectly secures and that "a run during
the present panic might possibly result In
the loss OF both principal and and In;
terest Of the amounts deposited. ~
U Ayd co,niERoR NOT ArFEcTEp. J,SA %
4 The Mayor further said, that in q time
like 'this any bank should have time, q
realize upon Its securities, ,so as To- enable
itito, meet the demands OF its depositors,
The effect Of the panic upon importing
business, or the Withdrawing Of goods
from the bonded warehouse for the cur
rent demands Of the trade was hardly
percephble, as Is shown by the receipts
az duties. ION the 17th tho amount, re-
ociycd nc the Custom House was $322, ,153;
on. the 18Th, $685., ,10i; on the 19th, $685.
059;ao the sotb, 1878 IS5SSS q On the 9ssd,
1885,, ,2S0. = r.'r.g y .re ,ihss Sea a; .3f tdgts
= mi. Bailey the new receiver Of the
Bank OF the Commonwealth, was at the
bank to-day early busily engaged in
examining the accounts. He stated that
he was not, as yet, sufficiently. familiar
with its condition to give an account Of
tho property belonging TO the bank He
was satisfied, however, that the depoaitors
were fully secured. Further than this he
could not say. 5s II q ,4gg, or', .. Spr,. .
! The following private dispatch, ,,iss pub
liaiiefl:h Jfyla0 .San ~ inyIl ~
Ion Iosp,ot,ss, on sept. a8. 8.@@Messrs. jay Cooke,
McCulloch Sc Co. are throwing out the
drafts drawn by Messrs. Jsy Cooke q Co.
and which have come TO hand since the
news Of the suspension was sreceivedS@
THE AFFAIRs or THE UNION, TRusT co.
Further inquiry In relation to the petl-
ton In bankruptcy against the Union
Trust Co., has ELECTED the fact that Ken,
drickI& Co. brokers In Wall street, are
petitioning the creditors that the petition
Il based upon, the allegations that the
company refused to pay o check Of the
petitioners for $52 900, as far back as the
Both ult., on the grounds that the check
had not been through the clearing house,
when, In fact tho Trust Co.. well knew
thati had; and that the Trust Co. has,
by collusion with other parties, endeay.
ored in o most upjustifable manner to
embarrass the business OF the petitioners,
/! the petitioners succeed in having their
petition granted, nm assignee In bankrupt.
cy will succeed the receiver now In charge