The Cairo bulletin. [volume] (Cairo, Ill.) 1872-1878, 1873-09-26
FBLEGRAPHI6,
Reported Expressly for the Bulletin.
FROM NEW YORK.
STOPPED BUYING BoNps.


government has stopped buying bonds,
caused deep disappointment to-day, and
no little indignation was expressed against
Secretary Richardson, for his decision.
Yesterday reports were current that the
government would stop buying, and we
were induced by the treasury officials to
denounce the report as malicious.
The advance in Bank of England notes
to four per cent. Is the natural result, of
the shipments Of gold this morning
Gold opened firm, at lll;, owing TO the
advance in the Bank Of England rate, but
afterward declined 10 III aud still later
rallied to III, when it WAS announced
from Washington that the bonds of 1874
would no, be anticipated by the treasury
RICHARDSON OPINION.
A Washington dispatch says Secretary
Richardson has stated il would be good
policy for all banks to suspend further
currency payment.
EXTRA SESSION OF CONGRESS.
1t is rumored that the president has
been advised to call an extra session Of
congress.
WALL STREET.
NEW YORK, September 25.--The feel
ing in Wall street was much quieter to-
day. No additional failures we're reported;
notwithstanding, the disappointment felt at
the action Of the secretary of the treasury,
it rs hoped the conf ience which received
50 severe shock on MonAy will soon be
restored. There Was less apparent excite
ment on the streets to-day than on any
other day since Thursday. As usual the
crowds of brokers and their clerks, coll
lected 10 front of tho Stock Exchange,
but tho number was smaller than on the
previous days, and the general tone of
conversation WAS calm and rational.
DON'T APPROVE 1T.
The action Of Secretary Richardson in
stopping the purchase Of bonds and in rc-
fusing TO anticipate the per cont. bond s
of 1874, due Jrnusry LIST, was eagerly dis
| cussed, and go far rs could be ascertain ed,
met with but scant approval. While some
express great anxiety for the future
there are many conservative men in hose
opinion the associated banks are fully
able to hoid their own and that the back
Of the panic has At last been broken. The
stock exchange is
CLOSED
and the common report Is that it will no,
be reopened till Monday in any event, and
possibly not then unless there shall lie a
marked improvement in the condition of
financial matters.
CLEARISGs.
All clsarings made this far were .atis-
fAc.orily made. The clearing house com.
mittee appointed 70 consider the commun-
icstion made by . committee Of the stock
exchange yesterday, Lave not taken action
in regard to the matter, but the chairman
Of the two committees had . conference
on the subject this morning.
PROMINENT BANK
president said to-day that he believed
the banks were working smoothly, an /
thought it doubtful if the recommended
tons made by the Stock Exchange COM
mit.ee would be adopted.
The views of those prominent. in the
dry goods trade say the situation 10 en-
cOuraging in the greatest degree, and that
business is about as good this month a. it
was during the same period last year, and
shows hardly any Of falling of. a few
buyers hold back, and indeed the nerch.
ants do not care to sell except to parties
OF whose stability they are well assured,
but affairs go on in the ordinary grooves.
very much as usual.
MEETISG OF DRY-GooDs MEN.
A meeting of several of the dry goods
men was held At Claims last week, AZ
which they resolved to stand by each
other, and agreed to deposit as usual with
their bankers, an arrangement having
been effected whereby they can draw
what money they require for business DUR |
poses - heretofore. The arrangement |
has been found to work satiifactorily for
all parties concerned.
PRODUCE MARKET.
The general conversation of the mer.
chants At the produce exchange, shows
that the market for -four, breAds,uAs, De- !
trolum, and naval stores, re-
mains IN nominal state. Dealers |
cannot act intelligently, or make
future contracts while the present uncer.
tainty continues, and consequently trans.
actions are limited
THE GRAIN TRADE
is extremely quiet, the abseI CO Of market
Tor commercial exchange checking bust
ness TO great extent. Large amounts Of
grain have arrived here which were in.
tended for shipment, but new remain in
the warehouses il consequence of inabil.
ity to negotiate foreign exchange By
Anticipating the payment of the bonds Of
1874. Some dealers think the govern
men! will Afford means Of relief About
. OF this class of bonds are held abroad.
ANOTHER MILLION CLAIMED,
The London Times of the els, inst. hrs
tho following telegram.
NERpAs, September ll.-An incident
occurred yesterday which, happily, did