, 1873-09-27

TIE NOW.
This Is tho condition nt tho foelnE &Q-uulk. It
nay hc better or worAo Tomorrow.
Tan,o lung or psnio shorf dtsastroua or esvo
aonecs though hey 10 baeiu must @ soon Nv woar apsf o
30 q e si I '5s g m IN
mighty future That 1t eannot 10 permanently hnrmoi
MIN ns - with tho ancient Rornans to despair Ut
Ihc Nelub!io womld DO Harltnn R!n for OIL tfs far
land lea tbe golden promise Of all tho dscniny mud tho
distant years. Coiaro,,w.
FOREIGN TRADE AND EXCHANGE.
Special Dt.paea to Ths Chicago TRIBUNE.
NEW Yonx, Sept. oa.-rrominant bankers In this
oty, who do largo business In foreign exchange.
State TINT tho improvement which tho gold narkot had
shown on Thursday continued to-day aud that thQro
evcry indication that tho worat Of tho panic hns een
experienced, far Aa 1t Affected shipping interests
A mcmber Of tho firm Of
.. DROWN nRoH, 4 co.
eays TINT II Ia impossible to tell how mich gold has
been shipped from Europe. One hundred and nfty
Thousand doars has arrived, and jargo amount Is
On being asts whothor tho ba1snco of payments for
,sgetast th!a ee,,ntry,-thst ,s' whether puro,sse
billa by bankers ha exceeded ealcs to iporarr-hey
5 h't ssas't ss sas a Dazs T'e s
about equal. Thcy hayo inado
ONE HAND WAslI TIE oTHEn
during ths inat few weeks which have boon exception
al. II may bn tliat soma brokers iayo purchased
than hs hsxe in Il e5a0f y aGy
QUESTION May wo expect to continue to rocotvo
he oest @ thafe q tno % drain Of q spoeio " p'''
Answcr-The importation Of specie will continue
t1e LINK Of Enaad 1sos It's 'ss s a. to
nnee s1iesl a s nsy Il fss % nss s Il d.
count az at present.
THE IMPORTATION ooLp
is very profitable Hu he BANK Of England has already
d0ubtlc88 continue to raise them until
they sto}R, the s,,,, tra.n. In England, they
Of tho COUNTRY % eg got ers hoy wsn
to keep It, and are rcady to adopt any for doing
Queatiou-Are ehirments Of gold now making
from England directly for tho benefit Of bankerb here
Or Is the gold for tho ncconnt Of exporters Of pro-
Answer-probably the most OF 1t Ia imported for
the benefit Of merchnnsa; hut perhaps. some n for
Siils." - D1'A't' "D0 A3' ''"u'1 WALL e1iof'ef7
Qaestion-1s the rumor true tha: your house is
AnswesIwo hs,o discussed tho subject Of issuing
have taken my action In the matter, though ave no
doubt / has been agtatod in many bank-rar1ors. Il
we arc quito indifferent abou It, except from desire
to relieve the market. Leaving our credit paper Is
some"hat dangerous procedure roc In these times.
of No: 81 Broad street was asked 9neaions subsan-
chascs and sales Of foreign exchange Is generally wc
preserved Tho trouble II not That brokers aro oaded
With exporters bills to considerable extent but that
merchanta cannot raiso money to pay for bills and
cannot now obtain them the deposit OF Beonrties
The importaon Of gold will tend to relieve exchange
the purcnase Of bills Of exchange
Mr. siigman said private dispatch had been re-
cctscd by him few moments before TO the effect TINT
E5o0io 600 {5c SOC, ,00u) hud been
DnAwH FROM THE HANK or ENGLAND
o % ns spa n Eom R s m %
lTiVao dispatches sny that American securities
sssfEsssps sspf sas g. sS; ts Touch john Das pocket
A TENDER sroT.
They will Do all they ean to prevent The continuance
as it can DO with profit. Tho LINK Of England bus
nready raiBod s price Of discount aud the governors
f %hey tho w Snpk 'F' to ms0 today to aAs further action
RAISE TIE DIRoousT RATE TO TEN rrH CENT
thsy san san sop so 19n y my ohes and
don't SEQ where It viii viii ead. u link tho "S paSAs vii vii
There must be stopping point somewhere hut can't
conceive wheru It will bc. -
Question:" What do you think Of the sBue Of short
time notes?"
Answcr-Thcy will afToril relief. Banks will take
aa bu o tor 6 % 5
Issue them. Thoy too conservative house, aud
Do d. not believe % in running r. debt The trouble With
During the winter and spring, heavy deposits wero
made, and whom tho regular fa1l demand can.e-in-
Tsre eon,pelod q 90 down. Our house srled to tesp
and eonmcrciul notes, though probably during tic
paat few weeks purchases hava bocn heavier. ~
@ sS hst ss2s he da u 10: ss Ssness Z, ~ exchange
mediation q hs other buslneaa. The - s,agnation in
exchange ls due e tho single fnct thn exporters
high but there is ilead-lock In shipping from want
tzch bis bill Of lslng Us security, but o can't Ees
exchange simply for the reason that brokers