Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1873-09-25

4
heavy run yesterday, paying out about
| 800, 1000 1t is State institution, issu-
ing no notes, and the suspension only ef-
fects depositors. AT Jay Cookies mat
tiers are progressing quietly. The clerks
are busy preparing statement, to be
laid before the meeting of the members
of the firm, which cannot take place I'M
til after the arrival of the steamer Rus
sia, as two of the partners are passen-
gers on board of that steamer. The
Russia is expected in New York on Mon
day.
... UNION BANKING co. ....
The failure of the Union Banking
Co. was caused by the heavy run yester-
day
RFFEor IN EUROPE.
LONDON, Sept. 90.
The continental houses are disturbed
by the news from New York
FOURTH NATIONAL BANK.
NEW York, Sept. 20, / p. IN.
The run on the Fourth National Bank
continues, but up to this hour the insti-
tuition is paying all demands, There
seems TO be an opinion that the bank
will hold out.
STOCK QUOTATIONS.. -. .
The following were the latest stock
quotations before the closing of the
board, as near "a could be ascer-
tanned:
Rock Island 81, cash Ohio 81; New
York Central 81 Western Union 81
Pacific Mail 80; Lake Shore 80; Union
Pacific 49, Harlem 100; Erie 554 St.
Paul 324; c. c. and I. c. 20; Wabash
A. All offers of bonds under 111.25 are
accepted by Government.
THE Union TRUsT COMPANY DEFALCA-
TON.
1t is now reported that the detalcation
in the Union Trust Company amounts to
| to full half million dollars, and that
! they have been extending over a cousd-
! cradle time, and were committed by one
| of the officers, the son of a prominent
! Methodist divine. While tn" story is
generally credited, it is denied by others,
The culprit is reported to have fed the
city this morning. Though there are
! some grumbers, there IS general acquies-
! cence in the wisdom and propri"ry "f
closing the Stock exchange until reason
can assert herself on the street. Con-d-
cradle disappointment has resulted To
outsiders who came down in Consdera-
bic numbers, desiring to purchase stocks
and take them away for investment.
Gold is firemr and advancing under the
! Washington advices relative to the fur
Their issue of currency; price now 1877
! $751;. CLOSING STOCK EXCHANGE
las p. m.-Choerup cheer followed
! from the brokers when the Stock EX-
| change closed The Egening Express
say: TOO much praise cannot be
awarded to the men who conceived and
carried out this master stroke of policy
Bedam was running loose and the craze
was rapidly communicating itself to the
! outside multitude Nothing remained
but to shut the door and try and bring
back the bulls and bears alike to their
SENSES" ....
BANK OF NORTH AMERICA.
2 p. np.-Certificatese of the Bank of
North America have been thrown out of
the clearing house, which gave rise to
| the rumor of its suspension.
J
UNION TRUST co. AND NATIONAL TRUST
co. .....- ......-.
/ 2:O7 n. m@-The defa lcation in the
Union Trust Company is $500, 900 The
| Secretary is said to be the defaultUr. He
has not been seen since yesterday after
noon. The National Company say that
| they could have kept up payment until
Monday, bat would then have been short.
! They came on the street with an amount
of currency skies, but could find no buy
ers except at Il discount of thirty to for
ty per cent, and refused TO sell at such
a sacrifice, and suspended for the better
protection of themselves and CUSTOM
ers. .....
MEETING OF BANK PRESIDENTS.
2:15 p. m.-The bank presidents at
their meeting this afternoon passed a re-
solution to issue immediately ten millions
in loan certificates.
COMMONWEALTH BANK. i.
2:25 p. m.-The stoppage OF the bauk
! of the Commonwealth does no effect gen
eral markets nor other banks, 1t having
been almost entirely a brokers bank and
! its dealings nearly exclusively with
brokerage firms. Edward Haight, of the
| brokerage firm of Haight s. Co, was its
I principal banker, ind it is believed the
| suspension. of the bank was mainly due to
| his overdrawing large amounts to keep
his firm over the pressure of the last few
days. It's capital was only $4,000
l....- ANOTHER ONE:
PHILADELPHIA, Sept. 30.
1t is rumored the Union banking house
of this city has been compelled to sus-
pend for Il few days.
ALBANY BANKERS.
! ALBANY, Sept. ~,
1t is rumored the banking house of
Squires s. Son of this city has suspend
/ ed.
Later. -Squires & CO., bankers ar
nounce their temporary suspension until
further adyices from New York.
/ CONFERENCE OF THE PRESIDENT, sECRE-
! TARY RICHARDSON AND PROMINENT
/ BANKERS AND MERCHANTS.
NEW YORK, Sept. 81. 8 p. N.
The conference at the Fifth Avenue
4 hotel to-day, in relation to the best
1 means of overcoming the difficulties re-
sulting from the recent fiancial disasters
in Wall street absorbed the public inter