The Andrew County Republican. [volume] (Savannah, Mo.) 1871-1876, 1873-10-03
a HJiIL IA THE PANIC.

NEW YURF, SEPT. 2a-Wali street to-day pre-
sented most extraordinary spectacle 1t
would he difficult, in the necessarily briei lin
its Of newspaper report. to give correct
idea OF the excitement which prevailed But
the excitement to-day was, apparently, of al
entirely different kind TO the intense anxiety
observable on Friday and on saturday, which
had its origin in condition Of universal panic:
The streets, that is to say. Vail street ard
Broad street, were crowded.
II was difficult for pedestrian TO thread his
way through the different groups which occn-
ped the streets and sidewalks hliac,
Confidence increased as the day advanced,
and about o'clock there was sudden shrink
age Of the lines at paying teliers windows at
the banks and banking houses. The heavy
business done all day iidd been dispatched
with all possible speed and as soon as il WAS
known among the merchants that the purchase
of bonds was uninterrupted, and that the rule
adopted by the savings banks, of requiring
thirty day g notice for the withdrawal OF all
large stiins. was accepted without any disturb
anco at the savings banks. the certiication Of
money checks was not pressed, and it was evil
dent at the banks that the depositors were be-
ginning to believe that the storm had passed.
T. No enbdrassmeilt- are expected i'll any Of
the private banking firms who have sustained
themselves through the late crisis. The sus-
pension OF the Union Trnst Company is gen.
| orally attributed to the defaulting Secretary's
neglect to call in the $4,000 900 loans order
ell on Thursday. According to general report.
he completely lopt his mental balance. and
showed no disposition to submit the Affairs OF
the company to inspection. His whereabouts
aro still unknown. 1t is currently reported
That the company will be ready to resume busi-
ness in a few days. II is little remarkable
~. 1g tL., t,.a a.,F ha lI,stn
Company had any money on deposit III the ln-
stitutiOn anu that. with the exception of two
or three owned but Very little stock. This
NAV account for the bad management Of the
concern.
Messrp Jay Cooke Il Co. are out with a state
Inent giving the names Of banks and banking
houses who will pay drafts OF their CORE
| spondepts. hll drafts against deposits made
since the suspension will be paid on presenta-
ton.
Tie National 1rus. Company, which sns-
pended payment on Saturday, state that their
liabilities do not exceed $4,000, 600, and that
! the capital and assets of the company exceed
their liabilities.
The tlay closes with confidence greatly i'm
proved. with general opinion that the Crisis
Ii entirely over There seems to he no reason
| why all the banks should not now 90 along III
| quiet and regular manner.
dispatch from Philadelphia announces q
subsidence OF the excitement in that city. The
State Bank has resumed payment.
WASHINGTON, Sept. 22.-Judge Richardson
said this evening that lie believed the storm
was over, and that quiet and good order
| would soon be restored i'll financial and btisi-
ness cIcles ..s..
| The President decided to-day to send go,
900, 600 from the National Treasury here to
| Assistant Treasurer IIillhouse i'll New York
| tonight to enable that officer to buy all bonds
| that NAV be offered.
| A dispatch from Pittsburgh announces the
failure OF James I. Brady " Co. and the Sc
curity Trust Company.
| IL is stated that the Canada Southern Rail-
way Company is seriously crippled by the
| panic.
4 RENEWAL Of THE PANIC IN WALL
STREET - FAILURE of HENBl
CLEH,S d co.
NEW YORK, Sept. 23.-Wall street was quiet
this morning, but it was thecalm that invaris-
BILE precedes storm. There were no crowds
n the street, no noise none of the confusion
which has served, in the two or three day.
past. to accelerate and increase the panic but,
underneath this spparent security, there was
lurking great danger, which may yet precipi
|
night confident that the worst Was over; they
rose this morning confident in their security
The latest foreign advices helped to increase
this confidence, for they spoke Of no failures
though some distrust. and an easy market
All reoiced to know that the London market
was firmer American securities undamaged
and that, while dealings on the Paris and
Frankfort bourses were limited, rates we're en-
cOuraginS. .... ...
Stock quotations i'll the street were better IL
every instance than they had been on the close
of SATURDAYS operations on the Exchange.
Savings banks officials were in good spirits
and few runs were reported.
| In the Gold Room the price for gold wal
placed at 1l2 a rate much lower than was ex
pected to be established. and settlements were
| easy.
Stock brokers were much relieved by JAY
| Gould's settlement. through his brokers, o.
i. 600 shares of stock at reasonable rates, whici
bankrupted nobody, and relieved everybody
But, while there was all this cheerful outside
appearance of the crisis which had seemed Il
be impending, and encouraged people to hop'
that the panic was over, there, were events &C