Evening star. [volume] (Washington, D.C.) 1854-1972, 1873-10-03
TELEGRAMS TO THE STAR
This Afternoons Dispatches.
sociated Press Reports.
MONETARY MATTERS.
A Healthy Reaction.

EXPELLED FROM THE STOCK EXCHANGE.
NEW YORK, October 3.-The firm of George
b. Grinnell 4 Co. were yesterday expelled
from the stock exchange for refusing to answer
certain charges against them in connection with
their suspension and the motion to throw them
into bankruptcy. This house was the successor
of the firm of George Il. Grinnell x Co., in
which the late Horace F. Clark was special
partner. The suspended house WAS largely
long of Lake Shore, Western Union, New
York Central and other Vanderbilt stocks. The
failure was the occasion Of much indignation,
as it was supposed that bankrupt proceedings
we're instituted in COLLISION with creditors for
The purpose OF enabling George Bird Grinnen
4 Co. to sell their stocks If rates went up, to
fail without additional loss if prices went down.
There is also some fear that, now the three days
grace allowed by the stock exchange has eN-
piIed, a number of failures will be announced.
THE LOAN COMMITTEE OF THE CLEARING
HOUSE
report that the issue of additional loan certif-
Gates will be avoided so far as practicable, and
that probably some of them will be called in
to-day ana Cancelled.
GOLD DOWN ANOTHER QUARTER.
NEW YORK, October 3, 10 a. m.-Ciold
opened at llOA, and is now 1l0k.
WALL STREET TO-DAY.
NEW YORK, october 3.-Money has loaned at
'ai y per cent gold on government bonds, and
at l. 16 on railway and miscellaneous securities
Foreign exchange is weak, the rates having
been reduced to 1O7 for long sterling and 1855
for sight. Gold is heavy and lower, declining
from llOA at the opening to i09%. The rates
paid for carrying are to per cent. and fiat.
Government bonds strong and higher-sOuthern
state securities duh and nominal. The stock
market opened strong and higher as compared
with the closing quotations of yesterday. Prices
continued to advance until shortly before md
day, when the market showed an Improvement
OF 4 TO 81 per cent. over the opening quota
tons. Western Union rose from g to &c y;
Lake Shore from ia to 744; New York Cen
ral from 81 to SO; Rock Island from 50 I to 9Iat;
Wabash from 43 to A; Pacific Mail from 81 10
35%; st. Paul common from 32k to 33A; pre-
terred from 55 to d; Ohio from Is to 2s3 Union
Pacific from 20 to 2Ok; Harlem from ITO to
Ill 4; Del. Lock and Western from SO to 50; e.
g. and /. q. from 22Z to 23H; Northwest com
mon from Al \ to ~, and Hannibal and St. Jo-
seph common from % to 24B. The reaction
from the highest point ranged from y to 4 per
cent, but the general market has since recov-
cred.
Chicago Finances I'm a III ealthy Condi-
ton.
CHICAGO, October 3.-Financial and CONNER
cial matters here continue to improve, and
everything appears to be rapidly settling back
into normal and healthy condition. The banks
are daily increasing in strength, and the de-
mand for grain is active, and prices higher.
Kun on the Columbus Banks.
COLUMBUS, October 3.-The bankers here re-
fused TO agree upon any plan tor mutual pro-
lection, and this news becoming public, small
depGsitors made a general run upon all the
banks. The following have suspended in con-
sequence: Rechley's bank and the Commercial
bank. Other suspensions will probably occur
soon.
Rate of Discount in England.
LONDON, October 3, 4 p. m-The rate of dis
count in open market for three months bills is
IS 1 per cent, or !! below the Bank of England
rate Business in American securities to-day is
mainly for investment.
More Specie Coming.
LONDON, October 3.-The steamship Italy
took S25O,0e0 in bullion from Liverpool for New
York yesterday, and the steamships Baltic and
City OF Paris S525 600. The steamship Russian,
which also left Liverpool yesterday, for Mon
treal, carried out $4,000.