, 1873-10-03
SITTING UP.
Widespread Evidence of
the Patients Re-
.c0very.
A Panic Killer in the Shape
Of $3,550,000 C11ren-
oy Received Yes
terday,
The Banks Rapidly Re-
Stunning Their Nor
NAL Condition.
Result Of q Tour Among the
Large Manufacturing Es-
Establishments.
The Great Chicago Rolling
Mills in Full 0p-
Grafton.
Improvement of business
! OH the Western
+ Railways.
SUSPENSION of Grinnell & Co.,
Vanderbilt Brokers,
in New York.
A Washington Creditor Of Jay Cooke
Proceeds in Bankruptcy.
Over 100000 in Gold Shipped
from Liverpool for New
York Yesterday,
Reduction in Loan-Certiticates, and In
crease in Their Value.
A Washington Creditor Of Jay Cooke
Proceeds in Bankruptcy.
Over $l,000,000 in Gold Shipped
from Liverpool for New
York Yesterday.
Reduction in Loan-Certiticates, and H.
crease in Their Value.


AMONG THE BANKS.
So far as tho 1nnuciRl situation at the banks
yesterday was concerned, tho br|ofest way to
exprcae it would bo to say TINT 1t was bottor do
cidedIy better, than 1t was Wednesday, md that
much of tho uncertainty and diBtrust which still
remained then has disappeared, banished by
tho continued indications tlat tile tide Of disas-
ter has turned, and that the brighter days nro
coming. Since nothing is aa monosonous and
eventful as woll-belng tho daily round among
tho banks WAS marked By no striking develop
monts, and no surprising statements from tho
beginning to tho end Of tho List. Mr. 4. said
ditto to Mr.. 3. It waB a song Of improving
times, which all Of them united In singing. It
was, In substance that they all folt botter; that
everything looked moro encouraging; that it
seemed al II the panic was over; that the dopoB-
it's were increasing, and were ahoad Of the BUNS
checked out and TINT they woulagpecdily bo III
position where thoir time would not bo taken
up in looking aftor themselves, but whoro they
could, ae before, como to tho ail Of trade nud
commerce.
NEW YORK DRAFTs.
Complaint has been made within day or two
by several business mon in this city, that tue
banks, when they went to them with Now York
drafts and wanted the currency therefor, re-
fused to tako them at par, but insisted on charg-
ing discount Of 2, 8, or eyon per cent. The
result is, it is alleged, to hamper tho holders OF
tue drafts, and to compel them to send them to
Now York md have tho currency remittea by OK
press,-tho result being that largo sums Of
money arc thus practically locked up during tho
| dayB that thoy orc in tranHlt.
To this the banks reply, protsy genoraly, that
they arc willing enough to tako all those drafts
s.4-1A f$t.rf hmm
| not attempt to check out currency on thom, bu
will, when lie wants it, tako Now York oxohango
from them. When that Is done ono hand
washes tho other, and there ia no possible loss to
anybody. But If thoy tnko the drafts at par, and
send them to New York, they do not by any
means get tho currency for them. They nre ccr-
| tillod through tho clearinghouse mud thon they
hayo to DO put in tho hands of q broker on tic
street, who soils them for currency, or rather,
buys currency with them, and las to pay u pre-
MUM for 1t, equivalent to a discount Of 2
or per cent on tic drafts Then the
currency thus purchased Is Expressed here,
and tho Chicago bank, It 1t took the
drafts at par, is out tho discount
and tho exprosB charges. Honco diacount Of
per cent charged by them just about leaves
them even. Loan certificates aro worthless to
them, aud would have to bo used IN the pur-
chase Of greenbackH, which, In New York, arc
becoming like gold, q commodity. Thoao bank
officers who have not been callod upon to nloet
this issue aoom to agroo fully with tue reasoning
Of those who have.
CURRENCY TRANSFERS.
Some Of the bankers think that an tmmense
amount Of currency must DO al tho while on
tho road between here and New York. aud thus
rendered temporarily unavailable, whilo I'LL thai
oiroumlooution could easi!y 10 dispensed with II
moi quit sending currency they hayo in hand tc
Now York, and, iusteal Of TINT, put
1t in circulation hore. An instance wit
mentioned Of man who had $4,000 III green
backs, which he thought OF sondiug to NoH
York; in o,dor to invest 1t in loan-cortihcatos. Of
which hc would DO ablo to mako small per
centage. "Now, why do that?" says tho porsor
ho spoke to. "You send It to Now York by OK
press, and possibly ut the aamo tino .sond Of
All order thero for currency, aud 1t may happel
that my agent buys up tho very package yol
have forwarded, and roturus 1t to ,no by express
The result IL. 1t IL tied up anl useless for fou
or five lays, Why not tlopoait 1t horo, whore /
will pasn into circulation Ut oncoi" II. thiH cas'
tho gentleman decided to adopt tho last-mon
| toned course.
The currency arrivals yeatorlay wcro aH fol
lowA;
american Expreaa ~
United Hates Exprcsa. csa........,,.,.,........ 4oo
Aa'a1ha Gxpeeas. aoo,o"
, Total. 4, ,oso,oo
,, Eera aud there an individual has been pol;
enough to go to tho window Of o discount aebl
and aHk for accommodation on hia paper, but III
h&a alWRya been 80 stared at tAAt ho Aaa w