New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-09-22
COMMODORE vANDERBILTs PRoPo

COMMODORE vANDERBILTS PROPOSITION.
lie TENDERS TEN MILLION GREENBACKs II THE
GOVERNMENT WILL ISSUE S25.000,000
Early IN the day the President was informed that
Commodore Cornelius Vanderbilt was DESTROYS of
conference with him. The President signiied his
willingness to receive the Commodore, and in q
short time the latter made his appearance in the
lobby and was at conducted by Gen. Sharpe to
the room of the President. The conference
brief, lasting only few minutes.
As the Commodore came from the Presidents
room he was at once accosted by several of his
quantances to learn the result of the interview.
Much had been hoped from by those assembled. as
il was known that the Commodore had expressed
his willingness to advance Sl00O0OOO to the banks,
provided the President would direct the Secretary
of the Treasury to advance S25,0OOOOO In response
to the questions put to him, the Commodore said
briefly that his mission had been unsuccessful, and
added referring to the Presidents refusal to author
iZe the loan to the banks:
He could do it if he wanted to-
He at once took his departure, accompanied by
several friends. Those who were present at the
interview between the President and the Commo-
dore say that the Commodore, addressing himself to
the President and Secretary Richardson, alluded TO
the danger with which the financial community was
relief He offered to place at the disposal Of the
banks the sum of S0OO0O00 to relieve their present
necessity provided the President would authorize
the Secretary of the Treasury TO loan the banks
S25OONOOO. He further offered to stand pro rata
amount of any loss that might accrue by such
action.
The President replied that the Commodore was at
liberty of course to bis private funds as he saw
fit but the Government was bound by legal obiga-
tions not TO issue the greepbacks in the pro-
posed.
1t is stated that the Secretary demanded that the
banks make succinct report to him Of their indi-
yidual condition before he would entertain the
proposition. The interview ended with no more
satisfactory result than those that had preceded IT,
Commodore Vanderbilt, at a later hour last even
ing stated TO TRIBUNE reporter the following YER
sion of the interview between himself and the Presi-
dent. The Commodore was in unusually good
bumor. and even at this late hour after a day of
unwonted mental strain, was found conversing with
a few friends most huently on railroad stocks and
the Wa-st crash. The reporter was readily ad-
mtted notwithstanding the Commodores edict that
no newspaper men cross his Threshold last evening,
and the Commodore expressed his willingness to
furnish THF TRIBUNE with any information possible.
On being informed that 1t was the result Of the
Presidents conference with himself that desired
the Commodore replied that he feared on that sub
iect he could furnish little no information. He
had during the day enjoyed very agreeable inter
view With President Grant, but what would be the
action of the President he had not the remotest
idea. He had not made formal proposition to the
President as had been reported. that he would fur
nsh the sum of $0O0O.00O under certain conditions,
but had merely said, in conversation with the Pres
ident and several other gentlemen, that
something should be done to make money
easier, and he would willingly lend his
aid to that end. He had then announced
Informally that if the Government or other parties
could in any way furnish $4000,OO0 or that amount
of securities 10 the Banking Association, he would
be one to furnish Sl0OooOOO. Whether his offer
would be accepted or not, or whether the Govern
ment would take any steps in the matter, he was
ignorant but hoped something would certainly be
done to make meney easier until the crisis was past.
He could form no conjecture what the Presidents
action would be, he only knew it would be decided
on at later hour Last evening, and furnished III
writing to the press.
THE UNION TRUST COMPANY'S TROUBLES.
1T WILL NOT RESUME TODAY
Sangune hopes entertained on Saturday and yes
terday that the Union Trust Company would re-