, 1873-09-22
THE PANIC.
President Grant Orders Secretary
Richardson to Bny Bonds To.
Day to Any Amount
Offered.
This is the Result Of an All-Day
Conference Yesterday with the
Leading Business Men
Of New York.
The New Yorkcrs Urge tho Govern
ment TO Reissue The $4l,000,-
600 Grecnback Reserve.
They Are Supported by Reyerdy ]ohn-
son, Who Admits that It Would
Be Uncons titutionaI.
Secretary Richardson 1nfezible in His
Opposition and He is Supported
by the President.
The Chicago and New York Saw
ings Banks Decide that
Depositors Must Give
Legal Notice Of
Withdrawal.
No Mercantile House, No Savings Bank,
No Legitimate Establishment
Yet Broken.
No Mercantile House, No Savings Bank,
No Legitimate Establishment
Yet Broken.
Failure Of the Union Trust Company
It's Loans to the Vanderbilts.
The ,SitualIon In Washington. Philadelphia, and
Elsewhere.


SptcIa, Dispateh to The Chicago Tribune.
New YonK, Sept. 21.-The arrival Of P1cei-
dant Grant At Fifth Avenue Hotel, Saturday
night, WAS With tho avowed purpose Of
discussing with secretray Richardson the sub
ioct whether the Government should come to the
distance OF imperilcd bankers. Tho news Of Cover
mental Interference In tho present financial criss a
tractcd to tho nelghborhoo OF tho Prealent rarlor
at the hotel this afternoon, the weAthtcs business
man Of tho city.
THE HOTEL WAS INDEED As LIVELY
the Stock Exchange had been on Friday, notwith-
standing the ringing Of church bells In the vicinity md
Sabbath air Of quictue that rcigncd tho almost
dcsolated srccts The whole life aud ar OF tho great
city might apparently hare boon compressed into
Its smallest compasa and placed exclusively among
tho corridors and obbcs Of the Hotc Solid groups Of
business men engaged In low and earuest conversation
crowded tho obbica tho frat floor Of tho hotcl and
the caretod halls and parors adjoining tho southwest
angls OF tho hotc whore In parlors 49, 34 md IS tho
President and bis party wero assembled. Accompany
ing tho President were Secretary Richardson, Gen.
Dabcocf Presidential 8ecrstary, Gen. uilhousc, As
siat.nt Treasurer George L. Sharpe, Bcnator Morton,
Of Indiana, and Senator West, Of Louisiana.
Among capitalists and citizens who crowded tho cor
dors waited in tho parors to hear the decision OF
this august body, wero George 0pdyke, William 0rton.
Robert L. Kennedy John J. Cisco, Prosper T. slaw,
Rufus Hatch, Il. D. Cladin, John Hoey, jenkins Van
snaick, Gen. E. 8. sandford, J. H. Barker, ". l..
scott and many ohera whoso interests 1ay In tho a~
mediate turning OF financial Tout The Hon. Rosardy
johnson vas Visible at frequent intervals In the
ious throng.
It was rather substantial assemblage indeed, and
when Commodore Vanderbilt, On tho arm Of younger
friend, rut in his appearance, Of the aubatans1
men remarked, with possibly pardonablo pride, IA
very substantial asscmblage indeed, should Say
OVER HUNDRED MILLIONS"
Tho capitalists held their consultation informally In
Room 10, and most OF those named shovo wcro pres-
cnk Tho discussion began about 10 O'Clock and re-
yoyed around tho direct proposition that Government
should loan to tho bankers Of the city the whole
servo In the Treasury, II needed aud that It should
be done before 10 O'Clock Tomorrow. Twenty differ
ont propositions ware nade that meant only this al
though they we're put in twenty different ways. To
this there WAS strong opposition Oh tho part OF