The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1873-09-26
obligations will be paid as fast as they
can be realized on securities.
No More Failures in New York.
Backbone Of the Panic Broken
The Stock Exchange Still
" Closed.
Trade In Dry Goods Encouraging.
Aggregate of Bond Purchases
THE PARTIAL SUSPENSIONS IN ST. LOUIS,
CINCINNATI, CHICAGO 8 BALTIMORE.
THE PRESIDENT IN WASH
INGTON.
He Confers with Secretary Rich
ardson. pa.6
M Further Relief Disbursements 10
THE PARTIAL SUSPENSIONS IN ST. LOUIS,
CINCINNATI, CHICAGO & BALTIMORE.
THE PRESIDENT IN WASH.
INGTON.
he Confers with Secretary Rich
r ardson. pl.6
No Further Relief Disbursements 10
be Made by the Treasury.
Last Nights Dispatches.

@.-S -
l5 hDG4-
'r-4'a.0 fr-
Last Nights Dispatches.
. = NO MORE FAILURES REPORTED.
New YoRK, Sept. 25.-No more fail.
ures have been reported, and notwith-
standing the disappointment felt at the
action Of Secretary Ct the Treasury, 1t
is hoped confidence which received so
severe a shock on Monday, will soon be
restored.
There was less excitement on the street
10 day than any other day since Thurs.
day last. As usual, a crowd oil brokers
and their clerks collected in front Of the
Stock Exchange, but the number was
smaller than on any previous day, and
tho general tone Of conversation was
IL CALM AND RATIONAL.
The action OF Secretary Richardson In
stopping the purchase Of bonds and in
refusing to anticipate the5 per cent. bonds
OF 1874. due January !, was eagerly dis.
cussed, and 80 far as could be ascertained
met with but moderate approval, while
some expressed great anxiety.
BACKBONE OF THE PANIC BROKEN.
There are many conservative men who
are ot opinion that the associated banks
arc fully able to hola their own. and that
the backbone ol the panic has at last been
broken.
The Stock Exchange still remains
closed, and common report has 1t
that It. will not be re.opened until
Monday 10 any event and possibly not
then unless there shall be a marked i'm
provementin the condition yoi financial
matters. All the clearings this morning
were satisfactorily made. The committee
oithe clearing house appointed to consider
the communication OF the committee OF
the stock exchange yesterday have not yet
taken action in regard 10 1t, but the chair
men OF the two committees had confer.
encc on the subject this morning. A
prominent bank president said to-day he
believed the banks were working smooth.
ly, snd thought 1t doubtful il the recon.
mendations made by the stock exchange
committee would be adopted.
DRY GOODS TRADE ENCOURAGING.
The views Of those prominent in the
dry goods trade are encouraging in the
greatest degree. Business Is about as
good this month as 1t was during the
same time last year, and shows hardly
any more Of falling off than would prop.
erly accompany the end OF the season. A
lew buyers hold back, and indeed mer-
chants do not care to sell, except to par
ties Of whose stability they are well as
sured; but affairs 90 on in ordinary
grooves very much as usual. A meeting
OF dry: goods men was held Of Claflins
last jweek, at which they resolved to stand
by each other 1t was agreed to deposit
as usual with their bankers, an agreement
having been Effected whereby they can
draw what money they require for busi-
ness purposes as heretofore. The arrange.
inent, has been found to work satislac.
torily for all parties concerned. &
. 81, PRODUCE MARKETS, ,,s,4
A general conversation with dealers at
the Produce Exchange today shows that
the market for flour, breadstuffs, petro-
leum and naval stores remains In nomi.
nal state Dealers cannot act intelligently
or make future contracts while the pres.
ent uncertainty continues, and. conse-
quently transactions are limited. The
grain trade Is quiet, the absence Of the
market for commercial exchange check.
ing business 10 q great extent. On this
account the receivers are unable 10 dispose
oftheir merchandise to shippers, and the
current has sent back to the West large
amounts Of grain that has arrived here,
which was intended Tor shipment and
now remains in the warehouses in
consequence Of. the inability 70 ne.
gotiate foreign exchange. By antici.
pating the payment of the bonds oi 1874,
some dealers think that the Government
will afford q means Of ,reliei to about two.
thirds Of this class ot bonds which are
held abroad. Leading grain merchants
state that 20. g..
THE LOCK UP OF ALL CURRENCY
has acted on the trade in three ways: 1st,
1t has put stop to the crops in the West,
and has delayed the consignments on the
way. I'd. II has caused o fall in the price
of breadstuGs In New York, although not
to any very great extent. Sd. 1t has Sc.
riously embarrassed exporters from this
city 10 Europe, who cannot sell their ex-
change on Europe, and whose operations
'arethus 'summarily suspended. A'
MORE OF AFFAIRS AT NEW ORLEANS.
New ORLEANS, Sept. 25.-The mer-
chants generally approve Of the course
the banks have determined upon. It 10
understood that meeting Of the Cotton
Exchange will be called tomorrow to
approve their action. There Is nothing
doing In exchange, and no unusual ex.
element about the banks.
ADDRESS ISSUED BY THE NEW ORLEANS
.sE ,-a BANKS.
New ORLEANS, Sept. 25.-The follow.
Ing address was issued by the banks to.
day. ~ ,-s
1.-THE undersigned incorporated banks
and bankers Of the city Of New Orleans,
desire TO inform the community Of the
motives that actuate them In partially
suspenGing the payment OF currency upon
their demand obligations. Owing 10 the
partial suspension Of currency payment by
associated banks Of New York, and other
northern cities, aud the consequent refu.
sal of the western banks to receive checks
on New York, as the regular course ol
settlement Of collections made here fol
their accounts, II has been ascertained
that very large remittances Of currency
hence have been made upon peremptory