The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-09-20

four O'Clock this afternoon that ten millions OF
bonds should be offered for sale in New York to.
morrow. The Secretary has thus far purchased
but very small amount OF bonds for the sinking
fund, and as his currency reserve is nearly fifteen
Millions he could easily afford to spare six or
seven millions from that source and In such an
emergency increase the legal tender circulation at
least four millions.
Repeated demands have been made direct to.
day for some relief, but the Secretary did not take
any action until the Presidents private secretary
informed him that 1t was the Presidents wish.
II the bonds can be purchased in the usual man.
ner the Assistant Treasurer in New York viii be
empowered to close the purchase.
Secretary Richardson and the Monetary
Crisis.
In view OF the numerous kilograms from the
North concerning the condition of monetary affairs
many inquiries were made OF the Secretary Of the
Treasury this afternoon as to whether and to what
extent he would furnish relief. His reply was
that he had not yet decided what he would DO,
thus implying that he had the subject under con.
sideration. WI
Interview with Secretary Richardson.
kilograms have been received in large numbers
from bankers and merchants in New York by Secle-
tarv Richardson to-day begging him to do some
thing to relieve the stringency OF the money mar.
ket.
He declines emphatically to say what he will dc;
but Judge from his conversation, he will to-
night give out programme for the immediate
purchase OF bonds, using, perhaps, four millions
Of legal tenders rom the reserve and six
millions from the currency balance. I tried to
interview him, but he very respectfully said that,
in his opinion, 1t would not be proper to talk
finance at this Juncture, but his acts would be the
best that he could do. What they would be would
be given, as usual, through the Associated Press.
The Purchase or Bonds.
The Secretary Of the Treasury has directed the
Assistant Treasurer ct New York to purchase, on
Saturday, $40, 900 worth Of bonds.
The Run on tho Banks.
The financial situation In this city to-day was
much the same as yesterday. The run on the saw
ings bank was kept up, but no delay occurred in
making prompt payments. The greatest strain
will take place tomorrow, when the large number
OF contractors and builders require currency for
immediate payment Of the weeks Indebtedness.
Z. L. Stanton has been appointed receiver OF tho
First National Bank-au appointment in every way
satisfactory.
The government win lose fully 100000 by this
suspension.
There 10 a run on the Freedmen's Savings Bank
to-day. The oficers say there is not the slightest
danger, but that ell demands viii be promptly met
The National savings banks have taken advon.
tage OF the provisions OF their charter requiring
depositors TO give thirty days. notice Of with.
drawal
There is comparatively very little excitement in
the neighborhood OF the direrent banking houses
here to-day. The runs are oniy upon the Freed.
mems Savings and the Washington City Savings
Bank. The Bank OF Washington Is free from run.
The proximity OF that bank TO the Washington City
Savings Bank led several persons 20 believe that
run was upon the Bank OF Washington, which Is
not the case.
The Failure OF Cooke 4 Co.
In regard to the Cooke failure-"what did ! tell
youp said veteran In the note-shaving business.
"But no one would believe me. Why this suspen-
sion is just as clearly put up Job as anything
ever heard Of knew, when Governor Cooke said
his resignation was only question OF time, there
was something rotten somewhere. At that very
time It was known among his personal friends the
crisis was coming and that Jay Cooke didn't want
the District troubles added to the financial embar.
rassments Of bis banking house, but everybody
Says they knew 1t was oomingn
At this junctlfe Assistant Secretary Sawyer, Of
the Treasury Department, descended the stairway
OF the First National Bank ana entered his car
rage. He had drawn out all his surplus earnings
from the designated depository, ana a. he seated
himself in his buggy he might have been heard TO
say, "Northsrn Pacific did It." No one suspected
the First National Bank. True, Henry d. Cooke
was Its President, but what had that TO do with
the suspension OF Jay Cooke h Cor Stil there
was q smoky condition Of the atmosphere,
and when there IL smoke there must
DO some nre. An examination Of the banking
room Of the First National Bank showed that the
nnal scene was fully prepared. There was Q pile
Of greasy National Bank notes ready for redemp.
tion. but an absence Of the business force behind
the counter The suspension malaria was hover.
ing in the atmosphere, but had not quite para
lyzed the paying teIler's arms
"You appear to be taking things TRANQUILITY
said your correspondent to the bank oflcer behind
the desk. on 81
"what Is the matterw he asked In half guilty
and half suspicious manner.
''Your neighbor down stairs has closed his
doors.n
"You don't say; when did II happenr'
Just here sallow, nervous youth presented
check for $4,000. The paying teller instead "
counting out the cash, went down stairs ana nenu
a private consultation with the mourners -
whether the check should be honored ~ was ue
cided in the Affirmative and the money counted
out in one hundred dollar bills. su''
| another presented q check for $1,000, ana
| another for $3.50. all OF which Were