Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1873-10-02
PANIC CHRONICLES.
A FEARFUL BLOW TO MECHANICS AND
LABORERS.

A FEARFUL BLOW TO MECHANICS AND
LABoRERS.
New YORK, October 1.-The Grant
locomotive works at Paterson, on ae-
count Of the scarcity of greenbacks has
discharged an additional one hundred
and sevsnty-five men. The work on the
Delaware, Laekawanna and Western
railroad tunnel through Bergin hill, has
suspended, throwing over four hundred
men out of employment. The Cum
ming's car company of Jersey city, has
been obliged TO suspend, although its as
sets will more than cover its liabilities.
The trouble is the large amount of debts
due fTOm railroad companies which can
not be collected.
CHICAGo'S FINANCIAL SITUATION
FRIGHTENING.
CHICAGO, October 1.-The financial
situation here this morning presents a
much briRhter aspect than yesterday.
The receipts Of currency continue large,
some three millions being reported as re-
ceived yesterday, while the demands
upon the deposits are falling of. In
fact, some of the banks have already be-
gun to furnish their customers with the
usual accommodations, and the prospect
Is that it will not be long before business
will resume its wOnted channels. 1t is
stated that the Third national bank will
resume business in a few days, probably
by the beginning of another week.
There Is much firmer feeling IN the
grain markets, with an advancing ten
dency in prices.
AN OLD DRY GOODS HOUSE SUSPENDED.
New YORK. October THE CONNER
cidl says the firm of Patton & Co., No.
341 Broadway, one of the oldest dry
goods houses in the city, suspended tenn
porarily this evening. They are not vet
prepared to make any statement. It is
understood, however, that the suspen-
sion is due to the recent panic, and the
members of the firm seem confident
that they will soon be able to resume.
Although suspended, the store was open
and business going forward as usual.
cINCINNATI's HEAD ERECT.
CINCINNATI, October There has
been no day before or since the financial
disturbance assumed very serious as
pect, that there has been so much hone
fulness here as to-day. 1t was apparent
at the opening of Change and manifest
ed itself to the close. The general
markets gave evidence of returning
vigor, and, though business was mainly
confined to jobbing sales, it was of such
a nature as to show a considerable re-
vival Of confidence. With the banks
and bankers it probably has been the
quietest day for ten days. The improved
tone was the common remark through
out the day. a noticeable feature was
an increase in the amount of money on
the street, much OF which was placed at
decidedly lower rates than yesterday.
With the returning confidence is also
appearing in many quarters a desire for
New York TO designate at the earliest
possible period some day for the curren-
Oy resumption in that city.
IMPORTANT CORRESPONDENCE.
WASHINGTON, September 30.-The
president Of the Charleston chamber of
commerce tslegraphed Secretary Rich
ardsOn as follows: - The New Orleans
Picdyltae reports that after the first of
October you will maintain On deposit In
that city two hundred thousand dollars
In currency at the United States sub
treasury TO be paid to the banks In
checks Oh New York. This chamber
asks such relief to the amount