, 1873-10-02


The Mining Gazette reports the discov-
cry of an immense cave in the Fuller
mine on the Little Cottonwood. 225 feet
ieep, exposing large dedosits of min
rails. There is great excitement over
+. he matter. T
| New YORK, Sept. 25.-There has been
40 panic in Wall street to-day, but there
was quite feeling Of depression at the
action of the Government in suspending
its bond purchases. Even if it is bnt
! temporary it creates intense disappoint-
ment. Money is unGuotable. Banks
to day in the clearing house association
are polling their legal tenders. as pro-
vided by yesterdays resolutions. One
or two which stand exceptionally strong
refused to put their legal tender in, but
concluded to do so rather than be poll
ed from the association. Loan certiti
Gates issued by clearing house to-day to
the extent of $37 100000. Greenbacks
are still worth premium and sales are
worth q premium and sales were made
to-day all the waT from to 81. per cent
for certified checks.
The deadlock in the Foraging Ex-
change is now the great point of danger
as it involves not only our foreign trade
but every department of domestic trade.
Some signs of encouragement are that
banks are going in deposits, and that
the machinery for going through the
crisis is working satisfactorily. Order
from the interior for purchases of stock
at the present low rates a.e increasing
and responsible firms have traded among
themselves to-day to quite an extent.
A number of the observation-disclosures show
largely increased earnings for the past
few weeks.
Howes & Macrie have resolved to
open their doors and solicit special de-
posits on trust. Their former obliga-
tions are to be paid as fast as they real
ize on their securities During an ex-
animation, this forenoon, o. the large
safe of the Union Trust Co., a box be-
longing to the missing Secretary was
Iopened and found to contain $s27 900 in
U. 5. bonds which were supposed to
to have been lost. 7--. -~I... ------
| WASHINGTON, Sept. pa conference
was held to day at the Treasury Depart
ment, between the Secretay OF the Treas
ury, Assistant Secretary Sawyer and At
torney General Williams, lasting nearly
2 hours, at which full and complete
exchange of views on the prevailing f.
nancial troubles, and the propriety of
iurther action by the Government. 1t
seems certain that determination was
reached and concurred in by all present
that the Government should not use any
portion of the legal tender reserve for
the purchase of additional bonds, al
though this reserve may be temporarily
encroached upon for the absolute wants
of the Government, but then not to any
great extent and not with any view to
initiate currency. The present under
standing is that the Department be-
lieves it has helped the bankers as far
es public security and consistency will
admit, so at present there is no inten-
ton of issuing additional instructions
for bond purchases. nnr .eFo i
New YORK, Sept. 25.-Benry Clews 4
Co. and Howes & Macrie have received
large deposits which were on theit way
at the time of their suspension. The
amount: have been credited to CUSTOM
ers and held subject to their order.
AUGUSTA, Ga, Sept. 25.-National
Exchange Bark, Merchants and Plant-
er's National Bank of Augusta, and the
Planters Loan aud Savings Bank have
suspended. The run on the banks has
been heavy. especially this morning..
Cotton is coming i'll freely but there
is no morey to move 1t.
SELMA, Ala. Sept. 25.-Selma Saw
ings Bank suspended to day. Assets
believed to be ample to meet al liabilities
and save the capital stock nearly entire.
SAVANNAH, Sept. 25.-The run on the
Savannah Bank and Trust Co. has ceas-
ed. That on the Bank of Georgia con-
tinued up to tbs hour of closing. Both
are thought to be fully able to meet all
demands. The other banks are pro-
ceeding us usual and tho exciter.ent is
diminishing. rr.1 F9-I
New OR1LASs, Sept. Pa meeting
this morning, of all the bank presidents
in the city, except two, resolved to pay
no checks for moro than 800; all larger
checks to be certified; this arrangement
to continue for 80 days.
| MADR1D, Sept. 25.--It is expected
that the -bombardment of Cartagena will
be reopened on atu1day or Sunday
The Insurgent men-of-war are unable to
move, the engineers refusing to serve
any longer. 0A sa.
CHICAGO, Sept. 25.--The effect of the
financial troubles in New York has been
felt here mainly in the depression of
prices of grain, which are much lower
than they have been for several months.
LONDON. Sept. 25.--The Daily Tele-
graph, in an editorial on the financial
crisis in New York, recommends a vir-
tual suspension of all payments and the
substitution of system of Individual
credit. By these means time will be
given for tie excitement to subside.
NASHVILLE, Tenn, Sept. 26.-The