, 1873-10-28
FINANCIAL.
A Dull Day on the Stock
Exchange.
The Railroad Stock Muddle
in Wall Street.
Tho Lake Shore Indebtedness to
the Union Trust Com.
pany Settled. .
Preliminary Proceedings in
Bankruptcy Against the
Trust Com.
pany.
The Government to Commence Paying
Ont Silver Immediately.
None to Exchange for Green
backs, However.
A Financial Panic Expected in
Germany.
Successful Resumption by tho st.
Louis Banks.
Later Reports from the Pennsylvania
Iron Concerns. "'
A Financial Panic Expected in
Germany.
Successful Resumption by tho St..
Louis Banks.
Later Reports from the Pennsylvania
Iron Concerns. ''
NEW YORK.
Special Dtspatch to Tho Chicago Tribune.

EsT6.
New YonK, Oct. 27.-J. 9. Williams. OF tho
firm Of George Bird Grinnoll & Co., said to-day
that there WAS no truth In the assertion TINT
$3.50, 900 had been lost in the f9iuro of his firm
by tho Lake Shore Railway company. scholl aud
Banker had taken the proportion Of Lake Shore
stock allotted to them, refusing to take tho
whole, land :.this had procipitatcd tho disaster
to the llrm Ha could not say anything regard
Ing tho rurnored defalcations, aud understood
that Commodore Vanderbilt had sottled fully
and did not bolievo that any dofalcation
could concern tho Lake Shore matter.
There Lad been no question about tho
payment of tho Laho Shore inlebt-
odness and no reclamation to his knowledge
had been made by tho railway company OIL ac-
count Of the ca. $780, 900 worth Of bonds said to
hayo boon hold by the Trust Company at tho
time Of it's Suspension.
THE TOLEDO, WABASH WESTERN TROUBLE.
G. Fl. Pierce, broker, whoae firm failed during
tho panic, md who transacted business for h1r.
| Doody, 1ale President OF the Toledo, Wabash d
| tho statement Of ". L. Scott, which sent to
| you yesterday, mas substantially correct. When
Mr. Boody waa President Of thu Road, tho firm
Of Pierce l. Co. had an account with him, and
positod % '{ with a' the@a. Thoy paid tic N cou- M
pons .of tho Road, and in othor
ways Ind transactions with tho company
sometimes tho firm owed tue Company, and
NOR OF which happened to 10 tue case when tho
| firm was compelled to suspend. Tho firm then
owed tho Company 100000, which it would
havo paid had tho pressure not forced IT to aus-
| pend. But tho Company can hold Roody re-
ssponsiblo. It iB juHt now impossible, he said,
for the firm to pay it !; and whether it would
ever be ablo to pay, their resumption alono
| would show.
| BUSINESS ON TIE sTocK EXCHANGE
Was unacoountably dull early in tito day. West
529l on moderate galop, and reccaed to
5o16, reached to 521S, and by, tho close Of tho
first call was takon ii smal lots Ct 81 to 51N
and closed at 61A. Lake Shore seem to be the
lamest duck at ths opening, but soon began to
hobblo of creditably, gained per cont in fow
minutes, and large lots woro takon ut &c, when
the sale Of 1000 shares ut that price tomporariy
made Us low aB g. whence it again rallied to
6311, and staggered away to g. reacting again
10 G23s. 1t the Second Board It soon
slunk away, and finally closed at o1h.
but it soon became apparent that thore was no
disposition to maintain 1t at that point, and it
settled gracefully away to 841, at tie end Of the
morning calls, and with unimportant variations
rnto lots. Rock Island commenced operations q!
decline Of Just i por cont, but soon gave
signs Of Btrougth, and with occasional yiciBsi.
tuae, sold ut So, closing at 8794, with no dispo-
Of tho account. Tho general opinion
is extremely favorable to this road
aud nothing prevents tho public from giving itt
stock thoir ontire confidence but tho fact that
but themselves shall ever make q shilling on it.
Toledo d. Wabash retains tolorably oven tenor1
because Of it's apparent choapnees, while Untor
Pacific s steady simply because It takes so LITTLE
@ seems cheap nj d to IS, because for long Till
It was held betwoen ~ and 45, but itH prospect.
are hardly bottor than they over woro.
THE LAKE BuoRE-uN1oN TRUST COMPANY SETTLE
Tho settlement botwoon tle Lako Shore Com
pany nnd the Union Trust Company was con
Bummatod by giving notes Of the Luke Shor'
Company at three, Six. and nine months, secured
by tho pledge Of equal amounts Of stock of th'
Central and Hudson, and Harlem Railroads, q
70 aud 90 respectively, Commodore Vanderbilt
having provided colaterals. This puts an ens
to the embarrassing affair." and ought to lead t.
1ieontanglomont Of the complicated accounta
There III ono ground for
DOUBT AND UNCERTAINTY
which iB not removed, but Intensified by the facts
that nearly oyery one who has bought since tn
panic regrots having tsone SO. Greenbacks hav
proved tho best stock In the market for tonl
pornry Investment. How long they will main
tain this character ia q conundrum asked b
everyone within half mile Of Wall street.
THE do1D a1AnKET
L iey%. S%s.A' transactions ranging between l0s'Se
The inquiry for flour is light. aud tho mario
dull: The lathargy In commercial sterling check
tue inquiry for grain. Thore are light arrival
and fow buyers III tha market.
Dorth-roOm continues exceedingly scarce, an
holds for full ratcs The chartorng demand
: light, and rates aro not auotably changed
! Inl, 1Rru ufr $o+ nIH Hnfn n