The Cairo bulletin. [volume] (Cairo, Ill.) 1872-1878, 1873-10-15

vance Of the Bank of England rate of
additional banking stock, and mercantile
failures, and the difficulty in procuring
money in large amounts on stock collatsr.
ate. The banks are extending little or no
assistance to brokers. while foreign bank
ers are calling in loans on stocks and 70.
fusing to make any new loans thus the
brokers generally have to resort TO salss
to procure money in large amounts, and
il was these
FORCED SALES
that dragged down the market to-day.
The money market closed 1t lie to 3-l6
per diem. Greentacks closed frmsr Of
ITO / premium. Foreign exchange was
firm in the morning and bankers advanced
rates to : and 8, but there was no
bonds over 81 and n, while at the close,
prime bills could be bought at 81 and u.
Custom receipts $39, 300. Gold active
and higher and advanced from 8; to 81 at
the close Clssrings $sl,ooo,0Oo. The
assistant treasurer disbursed 9140, 900.
$1,000 pounds of foreign specie has been
received 81 the assistants office, the total
amount to date 10 os2, 900 pounds. Gov.
eminent bonds are arm and advanced,
gold having impaired a strong tone to the
market.
Among the failures to-day were WIN.
Hayes n Co.. bankers, W. NJ. White.
more 4 Co. Wise, Coves and y. II. PURGE,
stock brokers' Gillespie, X Trovbridgs,
Tea merchants, and the sugar house Of
Burger, Hartbast Il Livingtoae.
No failures were reported among dry
goods merchants at the stock exchange.
Boyd, Vincent n Co. were sold out un.
der the rate, but have not failed. This
firm would like to share with two parties
who wanted them to sell out themselves,
but they declined to violate their injunc-
ton, and other parties sold them out I'M
der rule. The difference amounts to
500, 900, nearly oil of which is and has
been for sometime past, upon deposit in
the Trust Co. Railway and miscsllane-
Gus speculation fsverish.
MEETING OF the FARMERS CLUB.
Al q meeting Of the farmers club Of the
| American Institute Edward Todd and
Thomas ID. Robertson, of MINI, were ap-
pointed . committee to collect information
on frui, trees 1t home and abroad.
WALL STREET
has seen the busiest time to-day it has
knew so far - stock exchange lie concern
cd, and prices have been allowed to fall
below tho lowest points touched in any OF
the panics Of the past ten years. The de-
cline WAS attributed to various cauees,
some hold that the depression was due to
the order of Judge Batchford yesterday,
in relation TO the bankruptcy OF George
Bird and Grinnell & Co., and sid that un.
til the injunction WAS removed. No one
on the street could tell how soon the mar.
kst would DO flooded with stock, and &C
| long a. IL continues brokers will be unable
to borrow money. Others explain th,
heavy tumble by the fact that larg'
amounts of stock carried on margin ha
been sold, in consequence OF operator
being unable to put up any more collater
als. II is said that Vanderbilt ha.
been FREQ seller, and that Jay Gould
has sold out stock which he bought In
and could not deliver ard has been buying
up gold.
ORDERS
have been sent in to-day from almost
every quarter ordering the sale Of stock
and outsiders sesm panic stricken. Their,
we're
VARIOUS RUMoRs
in circulation regarding Daniel Drew AnC
Cornelius Wander ilt. The fact that tn
bankruptcy proceedings against Kenyon
Coz l. Co. are directed against Mr.. Drew
10 significant and Mr.. Drews contractor
are supposed 10 b At the bottom of tn
difficulty with Boyd, Vincent & Co. q
Il has always been Com. VAndsrb il.'s pol
icy to hold up New York Central agains
the tide no matter Of what consequence (
other stocks.
| the DECLINE
in Central, ssi to s2s, to-day 10 taken as
sign Of the commOdors's inability to bo
ster il up and the sudden decline i
the whole list in which Western Unio
fell from s73 to A91 and Lake Shore fror
66a to SO; keeps pace il cannot but be dil
astrous to many houses largely il
terested in these stocks. 1t 10 q stree
whisper that the fall in Lake Shore /
partly engineered by tho Vanderbilt part
with the intention of getting control {
the road, Just as the Harlan road was COL
bied some Year, ago, AZ the road is col
sidered necessary 10 the interest Of th
New York Central.
BURGER, nIRrBAsT = LIVINGSTON
suspended, and the house is said TO 30
asolvcnt condition, and is able to pay "
. dollars for every one. The bank ca
0 neither borrow or make collections The
0 liabilities are reported at 81, 0Oo, 900, viii
their assets are placed at $1,000, 90
The failure of
= GILLESPIE, TBowBRIDGE a CO.,
is owing to their customers not being sb
to response.
HAYES A co.
/. Ny that their Junior partner in in Eu,on