The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1873-10-01
The stringency. .Abating.
OPENING OF NEW YORK
STOCK EXCHANGE.
Feeling Of Reinsurance and
Confidence.
Failure of the Union Nation.
al Bank Of Chicago.

Failure of the Union Nation.
i al Bank Of Chicago.
situation but Little Changed at St.
Louis and Cincinnati, 80 w.
YESTERDAY AFTERNOON'sDIs.
PATCHES. ,
Opening Of the New York Stock Ex-
change..Good Feeling and Return-
ing Confidence. @
OPENING QUOTATIONS. ~.
New YORK, Sept. 30.-Wall, Broad
and New streets, in front Of the several
entrances to the Stock Exchange, were
crowded this morning as the hour Of open.
ing approached. When the doors were
thrown open shortly before 10 O'Clock the
members and spectators rushed In, filling
the floor Of the Exchange and the visitors
the gallery. The members closed round
the Presidents desk, cheering vociferously
and waving their hats. Promptly at 10
o'clock President Chapman raped the
brokers to order, and at once all became
silent. he then spoke to them as follows:
ave have met again after very momen.
tous suspension for the purpose Of resum-
ing business. Your action In the interim
has met with universal appreciation, and
has been most satisfactory to yourselves.
Business would be carried on under the
rules adopted yesterday by the Governing
Committee, which he read, appointing q
committee to settle the contracts Of de.
iaulting parties. All ask now Is that
you help each other TO bear the burden
that has fallen upon US. To so conduct
business as TO enable the Exchange to
carry on It's work successfully. Loud
cheering followed the address and
business was begun. Agood feeling ap-
pears TO exist, and the opening prices Of
stocks shows returned confidence.
The following are the opening quotations
for sales: Central 90, Erie 81, Lake Shore
n, North Western 43i, Rock Island 9l,
Pacific Mail 35, st. Paul 35t, perferred
57t, Ohio 29i, Western Union 8Si, Wa
bash 40, Union Pacific 81, Cleveland, Col
umbus & Indiana Central %, Hannibal g.
St. Joe "a. ~,
11:30 A. M.-Under considerable pres
sure to sell, and realize on stocks prices
have declined from those current at the
opening from / to 8 per cent. Bankers
generally are unwilling 70 operate for GUS
tomers on margins until offers become
more settled. -...
The Union National of Chicago Con.
cludes to Go Into Liq quidatlon.
CHICAGO, Sept 30-The Directors Of
the Union National Bank after paying out
about 100000 yesterday, decided OF
meeting last night to go into liquidation.
The officers state that the assets Of the
bank are abundantly sufficient to pay all
It's liabilities in full. 7..
The Memphis Banks Resolve Not to
Suspend, But Will Open a Cotton
Exchange. ~
MKMpHIs, Sept. 30.-At q large meeting
of the Chamber Of Commerce this morn
ing to consider the financial situation, Q
resolution from the city banks was re-
ceived to the effect that they would not
suspend, but would open In addition to
the usual business an exchange, the ac-
count to be paid In kind, for the purpose
OF moving cotton, which was unanimously
adopted by the Chamber.
There Is much difference ot opinion
among business men here as to the ex-
pediency OF this issue, some holding that
1t will work harm by pushing that much
currency out Of circulation, and that It will
greatly depreciate and will be ignored by
the banks, while others believe 1t will re.
lieve the present pressure for currency
offered.
New York, Sept. 30.-An impression
prevails on the street and on Change that
all the leading houses will pull through,
In which event q better feeling will be
Infused throughout financial circles.
SWEET & Seayer, reported to have sus.
pended on the 10Th, announce that they
will pay all demands in full and resume.
The price Of money will depend upon the
stock exchange settlements now going
on. It'these should be carried through
successfully there are many who look for
tho comparative easy working Of the mar.
kel. There. was decided Improvement
In foreign exchange, which was looked
upon as favorable symptom Of returning
confidence. Leading bankers advanced
their rates to 1861 for to-day's sterling,
and 107t Tor sight, but the actual business
was OF reduction from these rates.
LONDON, Sept. 30.-The fifty thousand
pounds drawn from the Bank OF England
on balance to 'dayis Tor shipment to New
York.
A special from Berlin hints at financial
troubles in Germany. Fancy stocks
and bank shares are not saleable, and
some have fallen twenty per cent. There
| Is some talk OF government interference:
WARRINGTON, Sept. 30.-It Is stated at
the Treasury Department that the Do.
partment's statement tomorrow will ex-
hibit fair reduction Of the public debt,
notwithstanding the revenues OF the
month have been comparatively light,
The Treasury disbursements for the usual
expenses OF the government for the
month ending to-day, have been below
the average expenses for the last three or
four months.
Continued Improvement at Washing.
ton.
WASHINGTON, Sept. 30.-There 10 on
improved feeling In financial circles
/ banks and banking houses. Outside com
!, = binations are doing an increased business
, while those In the combinations are certi.
!. Tying and declining to cash the smallest
, checks. FAINT, Washington & Co. had
. . paid three quarters Of their depositors las
!, week, when owing to their inability L
J realize on ample securities they were
obliged to suspend payment. An arrange
ment has nearly been perfected with tn
- remaining depositors, by which they ex'
! pect soon 10 resume business.
y PAYMENT of Interest on the New
!, Per Cents. -
Il WASHINGTON, Sept 90.- Treasure