The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-09-24
NEW YORK.

| NEW YORK.
BETTER FEELING IN THE MORNING
| PANIC BELIEvED TO DE sUBSIDING-
| AMOUNT OF BONDS BOUGHT,
Especial telegram TO The Dspatch.I
| : New YORK, September 23.-rhis morning
a better feeling prevails on the street, and ii
is believed that the panic is nearly over.
The Stock Exchange is not open, and will
| not be opened until morrow. The amount
of greenbacks paid by the. Government for
bonds during the List few days is about
S8,cOO,000.
NIGHT DISPATCH. ,
| FAILURE OF HENRY CLEWS & CO.-THE
STREET DEPRESSED - WILD KUMORS
FROM TIE WEST-EFFORTs TO FACILI-
TATE SETTLEMENTS.
Especial telegram to the Dispatch.I
New YORK, September 23.-Thc failure Of
| Clews & Co. to-day shows that it is next to
| impossible to borrow money. The banks
! are outstanding their resources, while capi-
| talistS lack confidence or are waiting to buy
securities at lower prices.
WILD RuMoRs.
The Cews failure was followed by many
r1lmors from the West. some reports stating
that the banks at Chicago and Pittsburgh had
suspended. In addition some mercantile
| failures were also rumored. None OF these
were authenticated, but they served to add
| to the depression already occasioncd.
~ WESTERN ADYICES.
AdviccS from the West report that some OF
the exchanges have been been closed, and
that western shippers are holding back
| grain. Some New York receivers have tclc-
graphcd TO the West orders 10 stop sending
grain in consequence Of the difficulty OF oG-
tanning money TO honor SiGht-drafS. The
Governing Committee Of the Stock En-
change will meet tomorrow morning to
consult aS usual in regard TO opening the
Board.
TIE FEELING THIS AFTERNOON
| was apparently u9aAimou5 against opening.
! In fact, kccN!n: tie Exchange closed is
| looked upon Us the only salvation for bank
crs and brokers as Il wli"lc. some few Shy
| locks would ike to >tc the Beard opened 80
that securities would be sacrificed and bar
cain, be secured 10 themselves. TO open
the stock Exchange would simply be to
convert il into slaughtcr-hOuSc aud give
fresh impclu> to ;Ec panic, which has been
ail.yyd somcWlnt hy the closing of the
Board. Brokers to.dly were making settle
ments between themselves OF old c0nracts,
and il is estimated that 100000 shares have
been cleared. 1t is proposed tl:at the Gov
oruing Committee appoint Il subcommittee
to arrange some plan for
FAClLlTATlSG SETTLEMENTS.
A circular was iS>Ecd about noon, headed
"Inaependcnt Board Rooms advertising
opening OF rooms for the sale OF gold and
stocks. Cards Of admission wee set down
at so. Not much notice was paid to the
circular, and very few brokers' were found
willing to advance the required subscription.
\ meeting of creditors at JAY Cooke, re-
mains in session. No particulars are made
nubl;c a> yet, anu probably none will be this
evening. At the Union Dime Savings Bank
ycStertay-many Of The large depoSi.oFs who
Withdrew their money early i'll the day re-
turned with it at later hour and requested
officers t. enter it on their books. This
WAS done Il, loss Of interest 10 the dcpo-
sior.
TIE BANKS
have gone through the panic so far all right,
however. Since Saturday the business of the
banks has been simply with merchants, ac-
tive accounts of Stock Exchange firms hay
ing by reason of closing up Of the Exchange
been suspended. These firms probably have
at least five hundred accounts with banks.
Friday and Saturdays business at the Stock
Exchange has still to be settled. Should the
Exchange open, money-lcndcrs who have fail
ed to get responses on loans cIlled might rtlsh
in aud force sales urder the rule, which
would throw everything into 4 panic again,
and iniure the banks. TO prevent such a
state of affairs, it has been recommended
that the Governing Committee appoint SUBJ
committee to o-morrow to prescribe rcgula-
tions by which settlements may be made
before the Exchange is opened.
Associated Press Tclcprains.l
THE STORM sUBSIDING.
New York, September 23.-Qute full
meeting of the presidents of savings lnstltu'
tio,is was held This morning, when it was
resolved to enforce the legal notice before
paying deposits.
There is quite crowd gathered around
the Dime Savings Bank, awaiting the open
ing. H..
The presidents Of nearly all the promi-
| ncnt banks express the belief that the crisis
| is over.
Several barks have ceased discounting.
| Many refuse to receive checks as cash, for
| prudential reasons.
| All The morning journals unite in express
| ing the opinion that the panic is over.
The Stock Exchange will not te opened
to-day. The governing committee meets
again Tomorrow morning.
| The excitement Oh the street seems to be
wearing itself out.
Brokers have formed a street market in
front of the Exchange.
Government has bought $3.50, 900 worth OF
| bonds.
The Gold Exchange is open. The latest
| quotation is 1114.
Quotations of Western Union stock are
GG bid, 70 asked.
| NIGHT DISPATCHES.
New York, September 23.-The sub
! treasury disburscd So, ,259, 600 to-day. Street
quotations for Western Union, Go to u.
The failure of Henry Clews 4 Co. left the
street ut the close of business IN state OF
wild excitement, and the headway made in
restoring confidence up to l O'Clock to day
has been lost.