The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-19

~ w "hy NVOhN ~ Wa
New YORK, Sept IL.
Jay Cooke & Go. have announced their
suspension in consequence of large adj
vanccs made to sustain their Philadelphia
house, and a heavy drain upon their own
deposits IT is hoped the suspension will
hc only temporary.
NEW York, Sept Is.
There is very great excitement in the
street in consequence of the announcement
of the failure Of Jay Cooke 4 Co., and the
question generally asked is. who next 2.
Stocks took tumble generally from three
to ten per cent, caused as much by apprc-.
tensions Of tho future ~ hy the existing
condition of affairs. Prominent Wall
street men attribute suspension of the firm,
not so much to efforts to sustain the Phla-
delphia house. as to operations in Northern
Pacific, which il i, said, they sought to
carry hcyond their strength 1t is expected
that the life insurance company with which
JAY Cooke X Go. are connected. may have
to go under
PnlLADELprIA, Sept. Is.
The firm of Jay Cooke Il Co. has -us-
pended \ great crowd is now collecting
around their place.
JAW COOKE ANp cos PHILADELPHIA uorsf.
PHILADELPHIA, Sept. IL.
The following card has been posted in
the Office door of Jay Cooke 4 Co.. in this
city:
We regret to he OBLIGED to announce that
owing TO unrN pcctel demands on Us. our
Office has been obliged to suspend payment.
In few days we will he able to present IL
statement of our affairs To our creditors,
until which time we must ask for their pa
ticnt considerations We believe our assets
10 I've largely in excess of onr liabilities.
JAY Cooke ~ Go.
rnI wASnINoroN OFFICE or JAY COOKE
AND "a. CLOSED.
WA,niNdroN. sept. Is,
The banking house of Jay Cooke n Co..
in this city, closed lis doors shortly after
noon to day, and posted IA notice that, in
consequence of the suspension of Jay Cooke
n Co. in New FORK and Philadelphia. they
would remain closed until they heard fur
lhcr from them. There is much excite
ment, and large crowd is congregatcd in
front of the banking house.
TuE NEw- or rur SUSPENSION IL BosroN.
BosToN, Sept 1S.
The suspension of Jay Cooke & Co.
created no marked sensation ON State street
beyond the fall of few of the more spccu-
lativc stocks.
TIE WALL STREET EXCITEMENT.
New YORK, Sept. IL.
The tremendous excitement on Wall
street continues, and there are rumors Of
further failures. Except the official noti-
fication of suspension nothing is as yet
certainly known regarding the cause OF
the failure OF J Cook Il Co. The doors of
said that Jay Cooke has lost large sums in
the recent gold movement, and the rlimor
is that tightncss in the money market and
inability to dispose of his paper hurried If
it did not actually cause the suspension.
His having advanced a considerable sum in
Northern Pacific is mentioned by others,
At present, members of the firm say they
are unable to make any further statement
save that they expect to resume business
in a short time.
An EXPLANATION.
The suspension of Jay Cooke X Co, is
only temporary, and no business will be
transacted to-day II is understood that
all parties will be protected. The recent
state of affairs in New York has consider
ably affected the house. There is great en-
element on the street concerning the mat
ter and large crowd is gathered around
the office. The suspension of the Midland
railroad company is said to have something
to do with the suspension, and the North
ern Pacific road, 1t is rumored, has likewise
assisted to drain their treasury A dispatch
from Washington says the First National
hank of Jay Cooke has suspended