The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-09-20

+ RESPONDS 10 our Wall, every banking house for
| block after block seemed to be the scene OF the
| report this morning that the house Of George
| Opdyke / CO. had failed created remarkable Juror
ana no csme nhe by the
| Press OF the suspension OF Fisk Hatch, and upon
receiving this news 1t really seemed as II security
'''s'N JAY COOKE q co.'s CARD.
The house Of Jay Cooke 4 Co. was aglow
all the employees were as busy as ants The firm still
| assure their creditors that every penny OF their
like the following was issued to all doing business
| with the arm:- =,
| To OUR DxPosrrons.- e,
e az Lest our M
SS M shSwns the condition Of affairs which
Ss nGs 10 ss You
~ '' 'S-'' '''' JAY COOKE co.
A member OF the firm announces that the
CAUSE OF TIE SUSPENSION
| was owing to the Northern Pacific Railway. re-
produce his own language:-i
Our firm are the financial agent. Of the Northern Pa.
bond. On n.fiss Which met R Win rapid
would Il months naieray fall Ito and ps IN order
ass delay IL sns DSSC as n
90 70 much for deSeIopment OF the resources the
~ rhss had %
% Ss Ds
He also says that IL is impossible to give the ex
tent of their advances until the accounts OF the
up the statement must be long and tedious because
the books are in three houses located In New YORK,
Philadelphia and washington. He denies that the
or stock speculation, and that the house neither
can nor Will violate the confidence Of the people.
PAID. lfnG a.e r,,.,..i.. $500.
THE GENERAL EFFECT.
1t Is right to say that none OF the failures In this
city have to any dangerous extent affected the
banks; borrowers with proper securities find no
the other IN al oes
are exceedingly reluctant to make any advances
upon drafts, which at any other time would meet
sylvania Railway stock forms no minor topic Of
popular conversation,
SYMPATHY FOR THE GREAT FINANcIER.
The public sympathy which is extended towards
the unfortunate house is very marked, and late
mouthpiece Of all business men when it SAYS
"When We recall how noble Mr. Cookies charities
BEEN how ne n mas &c sought tn out
himself IN prosperity and and how W well new in
with what unmeasured patriotism he wrought Tor
the country in its dark days and how honorably
the community can do is to give him, as OF old, its
most earnest wishes that he may promptly
sssa Of his the 0's snsuc sa 'd aa At %
character is what it always has been.
his reputation as unsullied, his wisdom and energy
uulmpairedl Why, then, should Jay Cooke not re-
trieve his old place In tue monetary worlds He
deserves success, and 1t is seldom denied to such
men. We believe the hope ia general that it Will
not be denied to him."
Business men feel confident that the house viii
resume before the expiration OF o month.
Jay Cooke q Co. received a despatch from Lon
don this morning, declaring that their London
house Is solvent and that tue feeling in London
towards Jay Cooke, McCulloch h Co. is very
friendly. 1t must be- remembered that the labil-
tiles OF the London house, unlike those Of the
American branch, are not all due on demand, but
at regular well known dates 80 that they know
exactly how much money is needed each week.
OTHER FAILURES.
Scarcely an hour has passed In this mOmentous
afternoon without the announcement of another
failure, and at this hour OF the night the wreck is
fearful to reflect upon. The announced inability of
the most prominent and honorable banking house
in the United States to meet its obligations
alarmed all deposftors concerning the security OF
moment the banking houses opened every brokers'
office was crowded and overrun with mUltitudes
of excited vehement and terror-stricken cred
itOrs. Hundreds demanded their money, but in
too many instances were turned away unsaJisfed.
After the failure OF ]. r. IL II. Z. Yerkes came
others, as follows:-
George II. North, No. 125 South Third street.
John p. Lloyd, Henry L. Douglass, No. 305 Walnut
street.
II. Heber Bull, No. 1871 South Third street.
T. c. Knight, No. 1876 South Third street.
Henry L. Fell Il Brother, No. 306 Walnut street;
and GilbOugh, Bond IL Co.
The excitement prevailing is exceedingly great;
and, in the present turbulent spirit OF the people,
new runs win doubtless be made upon other
houses concerning which there are rumors to-
night, and 1t Is feared that many must before
nightfau tomorrow be lost in the utter wreck Of
those which have fallen to-day.