The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-09-30

| / New oik ulslatcn says
The grain dealers OF the Produce En-
change are awake 10 Tie Importance Of some
decided action to relieve the present diff
Guilty, and conferences have been held during
the past few days il which the subject has
been earnestly discussed. Various plans
were suggested, and it was finally decided
10 appeal to the banks for certain amount
of accommodation to enable the crops 10 be
moved. If relief docs not soon come ship
peg, will be compelled to receive grain by
railroad ut runously high rates, and it Is
thought that The unsettled market Of the last
week las locked up for the winter three
million bushels. hich amount may be large
y increased if the present uncertainty cor
;inlc-.
The provision market is in Il nominal con-
Gitiuu. buyers are scarce, and no purchases
are made unless dealers need goods for
present wants. The stock of provisions on
hand, however, is light, and this helps to re-
iiuvc the market. No failures are yet report
cd, but lElny shippers, operating on 4
commission of two and il half per cent, who
bought bills of exchange few days before
the decline. have suffered heavy losses
Notwithstanding the difficulty expert
cnced by shippers in buying bills OF eX-
change, exports by different steamers Satur-
day do not seem TO be much less than the
Imount carried before the present financial
crisis. The quantity OF cotton shipped,
however, is not az large as usual and a large
amount was received direct from southern
ports and Immediately transferred to Liver
pool vessels.
The managers of few lines, in order to
complete cargoeS, have taken grain ut Il
slight reduction per bushel, but the general
rate for wheat is Is to 14d. A few shippers
who had engaged freight-room for Saturday
steamers. finding it impossible to pay rates.
demanded reduction, and the managers at
| the principal lines, it il said, in view Of the
| pane which has taken place since the con-
| tracts were made, have accommodated them
| to Il considerable extent. 4 visit to the prin-
cipal steamship wharvcs was made, and the
managers stated that the monetary difficult
ties have not intcrlcrcd with their business.
The president of the Produce Exchange
has appointed committee to consult with
the loan committee Of the clearinghouse ior
the purpose of consulting with regard to the
adoption Of some measure by which dealers
| will be enabled to overcome dlthcultleS IN
the way Of purchase and shipment G. gram.
The reported failure on the Produce EX-
change yesterday was unlmportant. Ex'
| tensions were granted, and the house goes on
| tlansacling business rs usual.
Interviews with some of the leading grain
and flour men show that general good feel
ing prevails among them in spite of the
dizziness Of trade. In answer to questions,
Mr.. Moss, of L. Roberts e. Co., II South
street, said flour had fallen fifty cents bar
| rel on certain brands from last weeks prices,
and quite an export demand had already
sprung up. The general effect of the panic
had been depressing, but there was CONT
dence all around, and buyers and dealers
have transactions together as freely as he.
fore. Dir. Fl. w. Smith said the stoppage OF
sight drafts from the West had reduced the
movement of grain; 100000 barrels of -four
a week and 100000 bushels of grain
were stopped at Chicago, but dealers
were acting in liberal spirit, looking upon
Il man who was good before as being
just as good now, and so extending the
same credits. There was no alarm in the
trade. Mr.. John A. McCreight, miller
from Harper's Ferry, said there was no alarm
there yet, but they were anxiously watching
New York. Mr.. Hustled, of Jesse Hoyt &
Co., thought the trade was suffering from
| the inability of the exporters TO negotiate
bills of exchange against their shipments.
If the panic continued the effect would be
felt all around. The farmer could not sell
his grain and so could not pay the store
keep, and ereyb9dywclld te involved.
So Tar there was no alarm, and everything