, 1873-10-03
81 I ING UP i.
(Conttntcd frors the Firat Pdge.)


STANCES, 1t waa thought bottcr to watch oyonts
for few dayB. Tho Company docs not protond
That tho n,onoy was not Justly due, or that
strictly apeating, IL ought In any cyont to havo
boon withhold. but n crisis socmcd ut hand, and
many other considerations depended on that
single payday which do not cnter iuto ordinary
calculations.
THE AMOUNT WITHDRAWN FROM THE TREASURY,
for monthly pay, Is between 100000 and $780,
0oo, and Us tho groaser part OF tho money goes
out OF Chicago, tho sonding out Of tho pay-car
on tho usunl day might havo involved tho Com
pany in very serious difficulty. Tho ovont
proved tho wisdom of delay. Only day or two
after pay-day the crush camo, and tho supply Of
currency ovorywhoro coascd. by tho dclay Of a
fow days tho Company, the public, tho employees
themselves, wero eavcd great Inconvenience !;
the treasury vas ablo to mako disbursements In
ourrcucy. and keep the volume Of trade pouring
Through Its territory, and to receive the checks
Of our business mon, instoad Of throwing thom
out aud inaisting on currency, aH many
other large establishments havo done. Thus,
commerce was not checked the flow of currency
through all tho channels affected by the roadH
WIS not intorferoa with employment continued
to bo given to tho tnen, mud time was obtainod
Tor calmly roviowlng tho situation aud securing
present aud future pay-r0lls.
IT WAS SOON DECIDED
THAT, undor the now condition of afraira, the
uompauy could not reasonably hopo to continue
tlo employment Of 30 many men. and that
1arge 70. number must 10 paid Off but further
investigation satisfied tho management tt1at this
summary proceeding might DO obviatod by rc-
tnclng tho timo nnd pAy from to por cent,
according to tho nature of tho work. Iftlo men
nassnsed quietly to thn tt would obviatc tho
. Thursday waH tho day chosen for announcing
THIS reduction, md arrangements wore made TO
start tue pay-car tho following day, us soon as
thoy lad decided whether to refuse or accept.
TILE REHUIT WAS
that part of the 1nen employed on ono section Of
tue rond began to grlmblo, md tlnafly loft off
work. These men ycstorday received their my
aud discharge together, ind tho pay-car went
Its usual rounds. Nearly oil Of tho discharged
that thoy woro mislcd Tint tloy Ind not 1nade
allowance for tho fact TINT the Company Ind
boon outstanding its currency for their own
Food, iu common with tho general public and
that they had been irritatod into their action by
Tho Representations Of fow unquiot spirits tliat
they wore not going to got any moro money, and
storles Of that sort.
VISIT 70 THE snors
confirmed those representations, as fur as tho
Oonpany's conduct toward tho men is in ques-
lion: Thero vas hardly my change to be no.
ticed, everybody bong busy and cheerful, and
work going on with III much briskness as Is
genoraily the case on pay-day; md thoro seemed
~ A0p4 VI Au3talAE Aul1chEHIk OECuIlluH1 uu-
!ess, as tagman lrornNrked, 'somo Of tho
b'hoys take d little drop too much* whom they
lind the money in their pockets"
CHECKS RECEIVED.
: Much Inconvenience has beon caused BY tie
hallway companies refusing to accept other than
currency in payment Of freiEAt-billB. So general
and noticeable hls the embarrassment become
~ to create tho impression That all tho compa-
nies pursue this courso. We arc glad to be able
10 instance Que notable exception. The Chicago
T. Northwestern Railway, throughout tho crisis,
has lnleeitatingly received checks upon auy or
ill the solvent city banks; md, probably, the
bsst comment upon their action is, tho assurance
That it has not thus far lost ono cent upon my
check taken. natural result of this liberal
policy has been, tint tho Colnpany's business,
despite the financial depression, hus continued
largely in excess Of the corresponding period of
last year.
There WAS but little change in the situation of
affairs at the rarond Offices in tho city yestor-
day. While tue Western lines are slowly mud
stendily improving, the Eastorn lines report q
Blight falling Off Of their freight business. This
MUST be attributed to tho faet that tho Eastern
tonds have been doing large business up to the
present time, because tlero WIS n largo qunntity
of grain in this city, which was shipped East in
spito Of the panic: The Western lines wero the
hrst sufferers, aia consequently IT is ouly natu-
tal that they shall be tho first ones to recover
from the Objects OF tho crisis.
MR. O. II. GRAY,
Tho General Freight Agent of the Michigan
Southern Railroad, stated to q reporter that tior
business was lighter yesterday than at any pre-
gious time Hince tho commencement Of the
panic. Whito they lad bcon short Of cars all
along, yesterday they Ind forty or fifty to spare.
hlr. Gray says ho expected this, as panics would
always afToct Western lines sooner than tho
Eastern lines.
Of tile Chicago l. Rock Ialand, reported business
on their road rapidly pickilx up, and unless
ttnf7f
prosperous condition. Ho Hoped Tint tint
this oriHis had taught Lesson to
tho Changers, who had dono very much toward
no better friends tl,an the railroads, and willie
It wns true that tLo railroadg, especially the
Western links, wore in 4 great measure depond-
cut upon tho farncrs, tho farmers woro lopeud-
lug upon tho railroads in the samo ratio.
J.. O. 11'MULI.EN,
nf the Chicago, Alton Z 1T. Louis Road, hoped
that after this thcy would get along swimming
u. Their business las been improving rapidly
during tho last three days, and they Ind put on
again. several Of tho extra freight trims tIlat
had been taken of, aud ro-ongagol many
of tho discharged mon. They Ind stopped
none OF their new improvements, aud MI their
carried forward with tho satne energy aud haste
as before tho panic. They yesterday closed
their last contract for tho new double track be-
tween Summit aud Bloomington, and the work
would be completed in a fow dnys.
E. II. WApsWonTH,
Of the Chicago. Burlington & Quincy, reported
their road in bettor condition. They haye not
discharged any mon, and they don't intend to.
He was In hopes that in q few days they would
havo fully III much to do as they lad before the
present Trouble.
A. lf1TonELLt
Of the Illinois Genital stated that their busi-
ness had not improved since being laAt inter-
viewed; had slightly declined since day before
yesterday.
II, Z. SARGENT,
Superintendent Of tho Michigan Central, also
reported slight decline in stLoir freight traffic.
ELSEWHEIfE,
THE DAY IN WALL STREET.
5pseia. UaspatcA to Tho Chicago Tribune.
NEW YonK, Oct. 2,-TAo main feature in
Htocka to-day consisted in tho report of the fail
uro OF arinnell Il Co., telographed you oarlior,