The Rock Island daily Argus. [volume] (Rock Island, Ill.) 1872-1873, 1873-09-29
Appeal for Help for Shreve.
port.
Accidents. etc.. etc.


Bank has suspended large payments of
currency There has been somewhat of
run on the First The Cook County Ma
tional Bank, led into suspension by the
action of the Union, will on Monday re-
sumo payment, and invites the active CO.
operation of its northwestern correspon-
dents.
There appears to be slightly improved
feeling in financial and commercial circles
to-day, but business exhibits marked
falling off. The inquiry for cash property
was more urgent, indicating that currency
is arriving for investment in grain. Some
of the banks obtained considerable cur
rency by express to-day, and evince a de-
termination to work through in spite of the
action of banks in other sections of the
country.
| CHICAGO, Sept. 21-After protracted
debate, the Clearing House Association to-
night resolved that, in view of the improV-
/ ing prospects, it is inexpedient to issue
/ loan certificates.
The Second National and the Maufac-
turers' Banks declare their intention to go
into involuntary liquidation
/ The decrease of deposits in our banks
for the past week is Sll,000,000, diminu-
ton of 40 per cent The outlook to night
is very reassurlng.
CHICAGO, Sept. ga meeting of the
/ Clearing House Association was held last
night and did not adjourn until half past
one this morning. 1t was attended by all
! the members including the officers of the
banks that suspended yesterday A prop
Osition to issue loan certificates for clearing
house purposes received a majority of votes
but was not adopted on account of the
strong opposition. The discussion was re-
newed, and, it being declared necessary
/ 10 take some united action, the following
committee was appointed at a late hour to
consider and report for adoption the plan
for settlements in the clearing house Mr..
Rumsey. of the Corn Exchange MIR.
/ Lombard, of the Fifth National Mr.. Rut-
ter, OF the Traders National; Mr.. Clark.
of the Hibernian National; and Mr. Green
baum, of the German National. 1t was
then voted to adjourn until 8 O'Clock this
evening. At a subsequent meeting of the
committee they resolved that they will
report their adoption of plan similar to
the New York system, and that checks
will be paid only through the Clearing
House.
ST. LOUIS, Sept 27.-Quiet has reigned
among the banks this morning Ali are
paying checks under the rule and every
body seems to cheerfully acquiesce in the
arrangement The feeling on Change is
better and prices for some articles are
stiffened materially The volume of bus
iness increased somewhat, and, in some
cases, higher figures were obtained Mer-
chants, generally, seem to be more hope
ful, but there is still a strong under current
of apprehension and but little disposition
to do very much trading.
The day has passed quietly in financial
and commercial circles. The excitement
Of the previous day has almost entirely
subsidized, and there was positively an i'm
proved feeling among all classes. Prices
on Change stiffened materially, and some
articles brought higher figures than since
the commencement of the panic A num-
ber OF banks announced this afternoon that
they will pay all currency checks against
new currency deposits.
PHILADELPHIA, Sept. 27.-Matters are
quiet on Third street, the scarcity of cur
rency being the only trouble Many large
manufacturing concerns have, with great
exertions, raised sufficient amounts of cur
rency to pay full wages.
PHILADELPHIA, Sept. 27.-Saml Jo-
sephs, applicant for proceedings in bank
ruptcy against Jay Cooke & Co, has with
drawn the suit In consequence of the state
ment made of the assets and liabilities of
the firm.
City banks have generally paid out cur
rency when needed to pay wages, and are
discounting freely, giving an easier feeling
in banking circles.
CINCINNATI, Sept 27.-At the close of
business, an improved feeling was manifest.
Some of the banks received as much cur
rency as they paid out
! WASHINGTON, Sept 27.-The Secretary
of the Treasury is no longer troubled with
kilograms of inquiry from financial sour
ces. No excitement whatever exists in
that department, and the Executive De-
partment is equally free from it. An ar
rangement has been made by which the
London house of Jay Cooke, Mccullough
4 Go. will honor all government drafts on
the London house of Clews, Habrecht &
Co. Beyond this there has beenno change
in the agency.
AUGUSTA, Ga.Sept q. There is better
feeling here to-day, but otherwise the sit
uation is unchanged. There is nothing do
ing in cotton for want of currency.
New YORK, Sept. 27.-The bank state
ments will not be ready for publication to-
day. The clearing house committee has
resolved to issue loan certificates to unlim-
tied amounts.
NEW YORK, Sept 27.-It is the opinion
OF persons conversant with financial move
ments that the prospect is steadily bright
enng Banks and Savings institutions are
paying out money more freely to meet la
p9r pay-rolis, and government, it is stated,
ohers TO prepay the November interest of
over fourteen millions.
some prominent financiers met last even
ing IN the rooms of the Mercantile Libra
ry Association, and after Consultation rela-
tive to the present condition of financial
and commercial affairs, adopted the follow
ing:
ResoIped, That all our efforts sbould now
be directed to the support of trade and
commerce and to promoting their greatest
possible efficiency in carrying on the vast
exchanges OF commodities incidental to
our bountiful harvest.
Resoseed, That we recommend to banks
the maintenance of their union, so happily
begun, and earnestly request that it be
supplemented by joint resolution to dis
count freely, commercial paper Of undoubt-
ed character, which on a like occasion in