The Rock Island daily Argus. [volume] (Rock Island, Ill.) 1872-1873, 1873-09-24

20. have suspended. They say that at
present they have no statement to make,
save that temporary suspension has been
leemed advisable, and that during the
past four days they have paid out one and
4 half millions in money and made the
utmost effort to-day to raise money on se-
curities.
New YORK, Sept. 23.-Money is not yet
quotable; gold closed at $1.113; govern
ments no transactions stocks, small
knots of brokers assembled in front of the
exchange and sold for greenbacks at the
following prices: n. Y. c., 90; L. S..
s2S Wabash, so; R. l., SS; St P, 35 |
0. 4 NJ, 80; u. P, 2la22; w. U. T., /
66a70 The loan of the Union Trust Com
pany to the Lake Shore road is not due
until January lst,and represents advances
made at different times on bonds being
by the Trust Company.
Just before the close the announcement |
was made that the well-known house of |
Henry Clews & Co had suspended This |
had a tendency to destroy the improved
feeling existing, and also to open afresh
the excitement The firm are understood
to have $500, 900 securities at their bank,
(the Fourth National, against which they
had drawn S3OO,0 600 The refusal of the
bank to certify or clear their checks was
the immediate cause of to-day's disaster.
New YORK, Sept. 23.-Up to two clock
this afternoon the monetary situation might
have been summed up in the sentence,
confidence is restored. As soon as the
announcement was made that the doors OF
Clews's banking house we're closed, large
crowd collected in front of the building.
4 number of prominent capitalists were
eagerly seeking Mr. Clews, who was not in
the Office, and the assistance necessary TO
pull through the day would undoubtedly
have been given, had there been any sus-
picion that the bank would refuse the pay
ment OF Henry Clews Il CO. S checks The
fact of the suspension created as much eX-
citement as the suspension OF Jay Cooke
K Co. The news left the street at the
close of business in condition of great
excitement, and the headway made in res
toring confidence was, in a great measure,
| lost. The run on the savings banks con-
| tinued to-day, but as most of them adopt
ed the time rule for paying depositors, the
excitement soon subsided.
The Assistant Treasurer has received
twenty million greenbacks from Washing
ton and is ready to buy all the bonds Of
tered
The Gold Board has resumed business.
Prominent bankers state that large orders
are being received for stocks as a cash in
vestmenk Sellers of bonds at the sub
Treasury are being intercepted and offered
half cent more than is paid by the gov
ernment Greenbacks are being loaned in
large amounts at one-halt per cent. Thus
far the sub Treasury has purchased eight
million of bonds
RICHMOND, Va, Sept. 23.-The Mer-
chants National Bank, Planters and
Mechanics Bank, the Peoples National
Bank, all of Petersburg, suspended this
morning.
PATTERSON. n. j., Sept 23.-In conse
quence of the general depreciation of new
railroad securities, the orders for locomo
tives for three months ahead at Rogers
Locomotive Works in this city have beer
Cancelled, and five hundred aud eight,
workmeu we're discharged to-day 1t il
feared that five hundred more may be dis
charged from the same works, and severa
hundred at the Dantorth and at the Gran
works.
PHILADELPHIA, Sept. 23.-The fnancia
crisis here is over, and bankers and broker
are transacting business as usual Al
State banks that we've under temporar.
difficulties have resumed, except the Uniol
and Citizens The latter will soon resume
All National banks stood firm and n
doubts were entertained of their stability
= ALBANY, Sept 23.--The run on tn
Albany savings bank closed this noon an
deposits at the close were much larger tha
? the amount paid out The panic is owe
f here.
CHICAGO, Sept. 23.-All our bank
. cleared to-day at the close Of business, an
despite the failure of Clews, the feeling
: confidence was thorough. The decline i
grain and the inactivity in cattle are onl
:, incidental to the crisis in the east.
: SPRINGFIELD, ILL.,, Sept. 23.-The Stat
Board of Equalization has had under COZ
sideration this morning the majority an
e minority reports submitted by the Raj
y y road Committee. These reports differ
. this, that the majority, Messrs. Warne
! Parry and Dewey, hold that the gradir
/ of roads is tangible property, and as sue
they give it specific value. The minorit
+ Messrs. Whitney and English, dissent, al
n say that the grading of railroad has
al value except in the capital stock of Il
corporation. No conclusion was reache
The subject was postponed until 2 'cloc
and in the meantime an opinion was ask,
from the State Auditor upon the differen
involved. The Auditor has not yet pr
pared his opinion, but he will hold that t
position taken by the minority of the COZ
mittee is correct, and the minority repo
it is believed, will be adopted The !
4 ports show 5,77l4 miles OF railroad ira
l in the State, not including 86ll miles
! side-track The railroad property is v
ued, on basis of 10 per cent. of its ca
value, by the majority, to be worth 80
50,545.53; by the minority at 500, Is
z. "a. I4-the difference being the value
the grading of the roads.
ore ST. LOUIS, Sept. %. - Special ag,
Wilson, OF the Postoffice Department,
been here several days, INVESTIGATING m
ters in the postoffice relating to the allies
assessment of clerks by Postmaster Eli
for political and other purposes, The
suits of the investigation are not kno,
nor will be until Wilson makes a report
r the Department at Washington, where
has gone.
WASHINGTON, Sept. 23.-Gen. Schof
lie. has ordered the execution of the 9
.ch- demned Modocs at Fort klamath n
Friday.
,ols ST. LOUIS, Sept. 23.-The steamer C
a. q tinental left here at 1880 A. NJ, with nes