Ottumwa weekly courier. (Ottumwa, Wapello County, Iowa) 1872-1899, 1873-10-02

:. INN I'M CCpts OU.-lHc Ihel IVA
tional, Peoples and Home banks of
this city resumed business this morn
ing and are paying all checks over
their counters in currency.
CHICAGO, Sept. 3O.-Although the |
whole community was this morning
rendered extremely nervous by the |
failure of the Union National Bank,
the outlook is now most cheering
There has been no insane raid on the |
institutions which resumed. and bust !
ness progresses quietly. The Third |
National is preparing to reopen; the |
Cook County has paid all demands, and
rumor assigns to Mr.. Allen the vacant |
leadership in our finances.
CHICAGO, Oct. 1.-The feeling Of de-
preston, caused yesterday by the final
suspension of the Union National
Bank, seems to be rapidly giving way
and the prospect this morning is much
more cheerful than for several days
past.
The grain markets are firmer and
prices are advancing.
1t is stated that the Third Nation al
Bank will probably resume within
week, and there appears now to be no
danger but that the non-suspendcd
banks will be able to come through all
right.
There may be some little difficulty
in the settlement of grain contracts to-
day, but it is not likely to be serious.
There are not believed to be many
trades outstanding. In fact the situa-
ton is SO much improved that some
of the banks have already begun to
furnish accommodation to grain deal
ers in a careful, judicious way, and as
the influx of currency does not dimin-
ish-some three millions having been
received yesterday-these accommo-
dations will doubtless soon be extend
ed by all the banks and business will
| resume its usual channel.
CHICAGO. Sept. 30.-The Tribune this
morning contains card from G. A.
Ives, cashier of the Union National
Bank, announcing that that institu-
ton has, by an affirmative vote of its
shareholders lowing more than two
thirds of its stock, been placed in liqui-
dation under the provisions of section
90 of the National Currency Act. The
holders of its notes and creditors are
notified to present for payment the
| notes and other claims against the
bank. The result of this action on the
other banks is awaited with deep in
terest.
CHICAGO, Sept 30-Public sentiment
respecting the action of Mr.. Coelbaugh
is very bitter, and there is little doubt
the Union National was yesterday the
victim of raid from friends estrang-
cd. The evening papers denounce the
resumption for one day as a criminal
folly. No authorized statement of the
affairs of the bank has yet got into
print. The Journal says the institu-
ton will surrender its charter.
CHICAGO. Oct. 1.-The reports pub
lished in the journal of this city, that
Senator John A. Logan and Geo. S.
Bangs had purchased the Inter-O Ocean,
or any interest therein, is contradict
ed by the owners of that journal, and
stated to be utterly without founda-
ton.
New YORK, Oct. 1.-The Grant Lo-
connective Works, at Patterson, N. j.,
have discharged an additional us men
on account Of the scarcity of green
backs.
Work on the Delaware, Lackawan-
ma & Western railroad tunnel has been
suspended, throwing over 400 men out
of employment.
The Cummings Car Co., of Jersey
City, has been obliged to suspend, al
though its assets will more than cover
liabilities. The trouble with it is that
large amounts due from railroad Co.'s
cannot be collected.
UTICA, Oct. 1.-The Democratic
State Convention met here at IL 80 and
was called to order BY Hon. A. Beach,
Vice President of the State Commit
toe. The Convention being tempo
rarily organized, committee on crcden-
tials and permanent organization were
appointed. A resolution was offered
inviting the cooperation of the Lib
eral Republicans and Immediately
Thos. j. Creamer contesting delegate
of the Apollo Hall party made
speech, disregarding gavel and calls to
order by the chairman and the hiss es
and shouts of the delegates. The con-
fusion was SO great that only an occa-
sional word Of the speech could be
heard, by which Creamer was UNDER
stood to denounce the Convention, to
charge the chairman with packing
the Committee on credentials,
and to threaten TO withdraw. The
scene was ended by the Convention
taking recess.
New YORK, Oct. Money s and
interest. Governments dull. Stocks
quiet and steady.
SHREVEPORT, La, Sept. 3O.-Therc is
no marked change in the epidemic to-
day. New cases are probably more
numerous than yesterday on account
of the unfavorable weather. There
were seventeen interments to-day
WASHINGTON, Oct. 1.-The Second
National Bank has resumed currency
payment.
The public debt statements show a
reduction of Sl,9Ol ,467 during the
mast month