, 1873-09-19
NUMBER %.

country for year8. They will outl,cad hut I'm enGn
which ls represented in three American cities and ti
the groat financial centro Of Europe could not arors
a53o thG stigma Of s'peo II 4 a my avail
Co. wore and IL IN unsafs se eonou o13 of
VIM carrying too large amount Of Northern Tacifiu
Railroad bond. amounting 1t is said to about 9s5
' aen o q hfss tss 00ns en' f9s fSe4se
which Cooke 4 Co. had pledged themaciscas
to pay aa bccao dug. Tolabillt1es Of tho concern
oro o estimated Tarsonsly at from $1,000 600 to $2oooo
Tho Frs National Dnnk ia involved 10 tho extent Of
nonex nS ss1 IN tGa sa soco M oxoE def
on depoet, M required by law. When tho nst report
Of 1t" condition was made 70 tho Comptroller Of TIM
reHcrvcs to about Tho ahove nmount. Knox found
fault with tho bank for allowing ths discrepancy to
occur, md demanded that mn Immediate Hquaring up
s1c,ses u al sorts, from time TO- timc when thcae
toay o wGfS renSaG S IT,. sp sa 1as NJ to
amounts OF money to nearly cycry National Bank jn
ne country for muilatcd and wof,l.out currency nnd
ts,aa Hstnnnl m nanH .' nocs forwarded to the Treasury
Receiver Ia to DO Immediately appointed.
Secretary Richardson has but tlo 10 ray about tho
eatain my ser1oua loss. II any there 1nay 1rovo ID
b. + can only be 9.eerianed after tho examination Of
Richardson, a. we'll a. Of ooptroi!or Knox and fey
other oAlcfals, H., to say tho 1east, otnlnous.
IT. Tho Er,enmg star edit ed!tori:iy ssya: "wo
Tug Huspenston will bo but temporary, IT
6e 6sng g ',ssd n thS Tho
tion Of tho road and being unshlo to dispose Of lilo
socnrics, waH compclIctl 10 st'rend The flrm Is
very wealthy one, nnd will aoubeaa right itHof.
The suspension does not extcnd to tho London house,
which Is f. good condition, with largo a!,rplu#:"
double loaded editorial Tomorrow, saying "Tho faii
Of the house of Cooke Il Co.t ts III nAny respects,
,no1o no; important +; an hs oyerthrow Of monarchy.
Ss 0 "' hs F' saafas ss as
and rese I'LL History Of ns si ar was e
e itssf darlas the last tsil!ot % yssr;.
Tho country can never forget what Jay Cooka
Ssbe!oa. any W moro s tsan '"aa san = foraes s
G It's dead wnrros M csa IL. cpess aHc in tI a
Treasury Mr; Stanton wa rowcrlesa III tho War Do
rastment nntil h. showed them how to tap the we'll
limited financial resouscos Of tho Republic Ali this
n the country wl forever 1emem1or and nov, iii tho
its fullest SYMPATHY It'll, howover low s Is not tho ma a
to wro his eulogy. Tbs failure vas It aeems caused
By Immense transactions In tho Northern 1ueiaa
nooted viii i. Notvithstanding tho I'M ims
monss grants and concessions ii, o5salnel from
tho beginning fatlAro lis honln favc obtained
foothold In the money market bn tho firm, with tts
immense rssources aud jratifiahlo pride In ita
our df.p.tches Tho =: house " ha. tas,sd, and ID
writing It not possible to eaato tho losses Of tho
rm but there IL to believe that they are 10
~ srge r. ss u nohnaTy believed So far ~ tho basness
influence. The mornl effect Of the failure III thu worst
aapsct Of It. i seem. strange that house so we'll
pond, but. when the immouso obligations which 1t
undertook to carry are taken, Into consldera-
urse pans % Tho iaef ast s there has sss bee
entirely oe much Speculation especially on tho pari
of some Of our leading bankors. jay Cooke Co. IN:
tloy hayo been Bwept sway in e' the Current. eat
They Wero 50 strong and confident that they
out tho most gigantic cnterrrlscs which would .a1 tic
but but Il thor ds I thor hcnor tha Sey a1ee
snysody except Ther faare is ono ens
tho subject u to Ito effect that tho suspension is
only temporary, and TINT the firm will resume bsl.
hepea IN few Ss ss an expectation which ia to ID
"undor any circumstances, the result Of the suspen-
sion of Jay Cooke Co. wtll not affect the value ot
Arm; while sxressng kindly interest IN tho pro9tfa
Ct q 1.-THE, The District has FIRMLY aud pcrsistoll1,
account with ho Government for tho negotation Of IT,
thls the thnt tic operations Of tho House
IN that class OF business wero necessarily coned 10
tho requirements OF its railroad enterprises In short.
i Ia safe to assert TINT the direct influence Of
tho 1aEgo citcs and le class Of people who may be In.
tercsted III railroad sccnrlties We have the best Of
rs fos ng TINT ns pstret 9an outside Ct
unaffected by tho complications of Jay Cooke 4
Thc Chronicle claims to hare tho best authority for
saying that the failure IL ~ compcto snrpriHo to tho
!oadng rnemhers OF the rn aB to the public. "dov.
Cooke returned from philadelphia on Wednesday, and,
Alfbnugft