New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-09-27


5sosD, si5 1921 90 Srsa s g
cod 81 53s 542 Il Customs $4,000 90
Currency receipts. 25l,l 80
The foreign exchange market is without improve
ment very greatly to the detriment Of the mercan-
tile interests. Rates nominal entirely. the
figures posted in the offices of the leading drawers
being 1851 for 60 days and 1861 for three days sight
At the close bankers demand sterling was offered
at lO4 frst-cass 90 DAYS commercial bills at lO2'
three days at 1921, and cable transfers lOi.
The banks stand in pretty much the same position
as usual. The following is to-days' clearinghouse
statement: Currency exchanges, Sil,sC5,2S7; Cur
rency balances, S3379o3 Cold exchanges, 81 ll46i5;
Gold balances, S3)9,1GO.
Adrian H. Muller 81 Son, No. Pine-st, announce
in another column that they prepared to sell at
public auction, stocks bonds, and other securities on
a hours notice. Their regular Wednesday and Sat
urday sales will be continued as usual.
William Ward, No. p Broad-st., announces that
he is prepared to buy aud sell stocks and other
curities for those who may require his services
during the suspension Of the Stock Exchange.
The Philadelphia stock market is unsettled.
Pennsylvania SKIES 1O5; Philadelphia and Ene
Railroad .l6 Reading Railroad, AZ. Pennsylvania
Railroad. 49, Gold. 1921.
We publish the following communication from
prominent and experienced stock dealer the sub
ject of the opening of the Exchange. without COM
pletely indorsing the views of the writer;
To the EDITOR Of The Tribune.
SIR: I notice you published in your money article Of
this morning the communication sent 10 the Governing
Committee Of the New York stock Exchange. signed
"A Retired Member" suggesting the establishment ola
Stock Clearing house. Now Mr. Elitor, let us look at
the situation Of Wall-st., II stands al the present
writing The Stock Exchange is closed ana tie mem
bers forbid making any transactions, under the pen
atty Of expulsion.
The brokers are largely indebted 20 banks bankers
aud individuals who have made loans to them, PAYABLE
on demand. The demand Is made, and - met by the
brokers with " What can do There is no market;
borrow money; must wait until the Govern
ing Committee open the Stock Exchange" And what
the Governing Committee d0ing IN the meal tmet
but thus far have matUred plan ~ meet tLo difficulty.
and like the CrcumOcutOn Othce" 10 seems 10 me,
are trying very hard "hOw not 20 10 IT,"
Mr. Editor, there just two parties who should DC
brought together solve this wonderful difficulty; me
brokers, who the money nave the stocks aud want
to sell and pay their debts ana the public who have tho
money and want 10 buy the stocks.
Let hope, then, that the Governing Committee (who
yesterday appointed subcommittee Of seven to ascer-
tam how the brokers stand) viii employ auctOneer.
throw open the Stock Exchange 20 the public Mon
day 10 O'Clock and auction OF all stocks Tor the
parties default; average the sales thus putting all on
the footing, and thus enable those Who want 10
then he declared bankrupt and closed out under the
rule.
This appears TO not only fair to ALL but the only
possible way TO get out of the difficulty
Very respectfully, DAVID GRoEsBECK.
Ne1-YOrk, sept. 26, 1873.