, 1873-09-30
PHILADELPHIA.

ronoy Tor remittance. |
PHILADELPHIA.
Special Disputch to The ChttaGo Tribune.
PHILADELPHIA, ra., Bopt. 20.-Third Rtroot Ia |
quioter to-day than many expected. Host has
boon panacoa for tho groat dsstrnst which DUR
Ing Last week luosuatod between extremes. In
banking oirclos tho fooling Is bottor,. and thoro
is an evident intention Of supporting tho NOR
cantile community. In tho stook mnrkot thoro
is steady movement for the bettor, and 1t Is OK
poctod tint good counao1s will now prevail, and
the mnrkots will slowly como around to thor
normal condition.
susrENsioN.
Tho suspension Of benjamin Dullook's Sons, q
firm doing groas local business located ON
Front street, abovo Chestnut, was annotncod
this morning. This firm has done an average
business Of O., ,0oO GOO yoar aud since tho 1stof
May last their aMes amounted to ovor 81 ,000, ,000
The cauBd Of tho suspension Is attributed to tho
failure Of tho Glonham Woolon Mills Dutohcse
County, Now York, who arc indebted In o largo
amount, upwards Of half million, to tho
Philadelphia firm: Unfortunately, too, 1t
is aaid that boforo tho panic tho
Messra. Bullock had lndorsod hoavily for
other partos on papor thot maturol last wook
In the almost unparalleled atringonoy Of tho
money market It wns impossible to got tho
meauB to moot this paper, and 1t has gone to
protest. Tho suspension Of this house is q great
shock to tho mercantile community. Through
its offorta 1arge trade in wool had boon built
up In our city, and Front street soon beoamo q
great wool centro. There can bn no doubt TINT
tho firm, which consists Of Joseph ". and Denja-
min Bullock, with George and James N.
Bullock as special partners, will be nblo to
moro than pay every ponny standing against
thom. They havo, unfortunately for thom as
for Philadelphia boon called upon to meet bills
when 1t is mattor Of impoaBibility to get tho
cash, and therefore arc compelled to stop busi-
noss. It is feared, but yet tho fear has not boon
realizod, TINT other 1r1ns having rotations with
tho Mlessrs. Bullock and tho Glenham Company
sion Of tho MeBsrs. Bullock will 10 no way effect
tho stability OF those banks of which
thoy woro Directors. Their dobsors. tho
dlonham Mills Company. aro reported to
ssoo,ooo. with this enormous M sum IL pr praotioally n
locked up, If not practically lost, 1t will DO soon
that tho firm was badly crippled. 1t is stated
that the Messra. Bullock hayo plenty OF first
olass collateral, and the dearth in currency pre-
gono to protest It is further stated that in
order to got money they advanced 100000 in
arHt-cass stocks to obtain $4,000 in currency.
THE DNOKEHB' BOARD.
At a meeting Of the Board Of Brokers this
morning, everything WAS quiet, and tho oxcito-
mout Of Saturday is almost forgotten. Tho
Committee appointed to confer with the banks
NJ to tho btuation of affairs submitted vorbal
report to tho effect that they had visited oil tho
conservative policy and not forcing stocks upon
the markot, AB was rurnored.
NOT SUSPENDED. .....
At the roquoBt of its cuntomera the philadel-
l. rx&& r1$&r pt,fr $
Of tho Farmers Bank, Of Now Castlo, DOL. has
boen advised by tho Cashier Of tho latter bank
to-day TINT he is only pursuing tho Hanle course
as the Philadelphia banks; that ts, refusing cur
reney except In llnited amounts. From this
circumstance arose the report Of tho suspension
Of the bunk.
HOW THIRTY BusrgNs1oss WERE sAvED.
It ia said that, on tho memorable Saturday on
which the Stock Exchange adjourned to prevent
further depression Of values, and to ropress tho
panic, tho Vice-prosident hold in his hands
thirty notices Of suspension Of momborB who
could not thon moot thoir ongagomonts. but
who age now nblo to pay oil outstanding claims
noticon, and havo adjustoa thoir transactions.
One Of tho largest dry goods houses in this
2 rEn CENT MONTH DISCOUNT
On all notes due them, for cash in hand. AS
urday.
THE DnA1N OF CURRENCY
from the city IL rapidly diminishing, simply be-
cauHe currency is becoming moro scarce md tho
demand can be only partially satisfied. Tho de-
mand Of country banks ia about tho same as pro-
yiously. Bankers Say that country people seem
to want all thoy cnn got.
MKsuFAcTon1Es oLosED.
A prominent playing-card firm Of this city has
been obliged to suspend work In consequence Of
inability 10 procure funds to purchase tle noces-
sary royenue atamps. Two 'factorics in Ken-
! sington also closed today: II. Disston Sons,
| Keystone Saw and Steel Works. aro now running
on two-thirds time only. Last week their hands
quit work under this arrangement Thursday NJ
| ternoon. During tue day tho firm received no.
tice from tho Cashier Of the KonHington National
| Bank to tho effect that that iustitu-
tion would be unable 70 lot them hays s tho cur.
Saturday. In this emergency they could only
post notice in the factory to this effect, and
| tholr employee scattered to thoir homes. On
| Friday, however, came another notice from tho
| bank, sent after furthor action by the bank
ot1lcerB Of tho city, in which It was stated TINT
| MesBrB. Disston could have tho currency needed.
It was then too late to notify the employees, but
the latter will receive payment In full for last
week On WE Md9ssd9y 9or t o 95nng WHEN thy o win
men are employed by the Messrs. DisBton, whoBe
sales last yenr reached 81 100000.
| BOSTON.
| Special Despatch to 1'he Chicago Tribune.
| BosroN, Sept. 29.-The financial condition Of
tho city to-day il not much changed. Tic banks
have not yet completed their preparations to
issue certificates OF deposit. Therefore thai
measure Of relief has not yet borne any practi.
cal fruit, They will be prepared to do business
on tho now basis tomorrow. Tho banks have
done small and cautious discount business. An
effort IL made to provide
FUNDS Fon MANUFACTURERS
to pay their help, but eithor there has boon fail
| ure to do 10, or the anticipation oi
failure In tho future, producing Q
condition Of things TINT it was hoped
would be ayerted. Some OF the largo manufac.
turing establishments have begun disohargine
hands. Tho Waltham aud tho Howard Watcl
Companies have discharged largo number, alt
10 has the firm OF John p. Squire l. Co., pork
packers. These manufacturers havo not olosoG
their works, but they say that, under tho circum.
kr4n IL D. kS,ro