Iowa voter. [volume] (Knoxville, Iowa) 1867-1874, 1873-10-09
The East.

A New York dispatch OF the 25th says the
day has been comparatively quiet one in
Wall street. The means Of relief adopted by
the banks In effecting bank clearances by loan
certificates had cased the pressure on them
selves but had not materially aided others.
The extreme caution Of those institutions, and
their anxiety to protect themselves, had added
largely to the actual scarcity Of money, and
there were grievous complaints from the great
commercial world and the Produce Exchange
In particular. Earnest appeals had been made
TO the Government for relief, and resolutions
had been adopted by the Produce Ex-
change suggesting to the Treasurer the
issue Of currency to the banks and bank
deposited In the bank of England to
the credit Of the United States to be used only
in buying exchange. The breadstufrs market
was still under the influence Of the block in
exchange.
A Newark (N. j. telegram Of the 25th an
nounced that the State Bank of New Bruins.
wick had suspended. This Is the bank that
was crippled by the Irregularities of Appleton,
the Cashier.
New York dispatches Of the Goth say that q
better feeling prevailed in that city ON that
day, In regard to finances. Henry Clews IL
Co. and Macy & ilowes had proposed TO their
depostors torcsumc business onnew accounts,
leaving the old to be settled us securities can
be negotiated. Gold had taken an upward
turn. At one period during the day it had
reached 1l411, but 1t subsequently receded to
1874, and closed at 1l3H. More activity had
been developed in Western produce. Prime
bankers sixty-day sterling had sold as low as
1903, and sight 104; commercial bills at 1910
102 for sixty days, and 1903 for sight The
banks had cleared early and in good shape.
There had been few sales Of stock, but the
quotations were not considered reliable The
city had been drained of money at alivelyratc.
The Express Companies had been carrying
away currency at the rate Of $4,000, 900 day
for nearly week. 1t was rumorcd that Fisk
4 Hatch had perfected arrangements to re-
sumo at an early day.
A Philadelphia dispatch OF the Goth says
proceedings in bankruptcy had been COM
menccd against jay Cooke & Co. The pub
lished statement Of that firm showed liabilities
Of g, $50, 400; assets, SIS, 966,2l1.
New York telegram Of the evening of the
9th says that the week had closed on more
cheerful financial aspect. The greenback re-
serve had been drawn down from $34, zoo, 600
to $l2,000,000 Clearing House certificates
had been issued as demanded or desired, and
1t was thought that with the aid Of these and
a small infusion of National currency the crops
could be moved and mercantile embarrass-
ment and failure averted.
A New York dispatch OF the 2Sth, says that
the President Of the First National Bank, of
that city, had urged the immediate resumption
| Of specie payment, on the ground that such
action will add s60,OOO,0O0 positive relief to
the money market.
A New York telegram Of the Goth says the
situation In finance and trade had become al
together more hopeful and cheering, not only
In that city but In all parts of the country.
The money pressure was being gradually over
come; there had been larger advance in the
price Of dividend-paying stocks; business had
gradually improved in the produce market;
the gloomy apprehensions as to the moving Of
the crops had yielded to brighter hopes; there
had been continued large shipments of coin
from England to the United States, and gen.
eral feeling Of security pervaded not only that