Evening star. [volume] (Washington, D.C.) 1854-1972, 1873-09-25
TELEGRAMS TO THE STAR
This .sfTern00n's Dispatches.
Associated Press Reports.
LIGHT AT LAST!
THE PANIC OVER.
TIVE FUTURE COURSE Of Jay COOKE & Co
what IIOwes a Macy Say.
The New York stock Market SIN
Closed.
END OLE TIE PANIC

END OF TIE PANIC.
NEW YORK. Sent. 25.-rhe morning Journals
take very hopeful view OF the financial situa-
Gou this morning, and IL is the genera impress
sion hat the panic is over.
WHAT Jay COOKE AND co. W L Do.
NEW YORK, Sept. 25.-The members OF the
JAY Cooke Hrm meet daily, and have decided
not 20 sacrihce their securities i'm order TO meet
obligations, but wait the restoration OF public
confidence.
WHAT HowEs AND MACY SAY.
NFw YORK, Sept. 2j.-Nr. HOwes, of Howes
x Macy, said yesterday that they had been paw
ing out between 0GOO and = 100 900 dav since
the suspension OF Jay Cooke Il Co. They con
tinued 10 pay out funds as fast as called for,
until their cash balance was exhausted, and
they stopped. They had not borrowed dollar
and did not intend 10 b0rTOWone. Wehaye the
best of securities but 10 not propose 70 sacrifice
them at current rates. The depOsitors of the
firm are about evenly divided between the city
and country. The cashier OF the bank Though
which Howes * Macy cleared says they have
not attempted 10 oyerdraw their account buf
on the contrary, have balance there. The list
of their correspondents embraces eleven ma
tional and state bankers and liO private imam
cial Institutions.
THE STOCK EXCHANGE STILL CLOSED.
NEW YORK, Sept. p, l0.59.-The governing
committee OF the stock exchange decided NO; 70
open the board to-day.
No MORE BOND FURCHAsRs
Notice IS posted at the sub-treasurv "tha'
purchases OF bonds at this Office are for the
present suspended" In answer 10 Inquiries,
the sub-treasuTer states that he cannut say
whether any purchases vii be made to-day
until advised from Washington.
WALL STREET IN ITS NORMAL STATE
NEW NoRK, Sept. >, liza m.-Wait street has
resumed son citing like iJs normal ap,sca-ance.
The panic is rapidly subsidiug. There nave
been rumors OF suspensions this marning, but
there is no truth in them. The stock exchange
being closed, pretty active business IOr cash
Is being transacted in the street.
W,SEJsGTCN SPECIAL
says Secretary hici srdsOv de ;lnes 70 gnticipate
the 1874 bonds which come due in December
and January,
THE STOCK MARKET.
New YORK, Sep. IS. Ills a. n--Aaairs on
the street continue quiet The market mostly
confines itself 20 bids and offers, transactions
being few ard far between, so FAR this morning
that no sales are reported. The quotations are
Central bid, 50; offered, 30 y Union Pacific isa
2.a2l; Pacific Mail, 2Saa0; NlytG Western. ga
10 Rock Island, So blank; Wes-erT lU;Du, Isa
81, Harlem. l02 al05 wabash. 1|a az hannibal
& st. Joseph, y blank; Z. g. * 1. g.. 30 blank.
TIE GOVERNMENT GOLD shLPs
advertised by the government will not take
place to-day.
IHE BANKS AND BROKERS
keenly complain Of unfounded statements, and
often malicious, sent out from the city by ire
sFoIstbie parties, which not only DO great per
sonal injury, but add fuel 70 the excitement.
ALL STOCKS ADVERTISED FOR SALE
az auction to-day have been withdrawn. Three
thousand OF prime sterling sold al l0j
THE GOLD MARKET.
NEW YORK, Sept. 25, 1928 p. m.-GOld opened
firm at III owing to the advance in the Bank
OF England rate 10 per cent, but afterwards
declined 20 II -, and still later rallied to TX.
The rates paid for carrying RAGGED from 10 8
FER cent. Foreign exchange has been fixed a.
lO6 for 90 cay bills and l07 for sight bv lealina
tanSc-sr but the actual business il at loNei
prices