The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1873-09-27

cent was palQ IOr tne use OF gOlQ, anu q
one time Il per cent Then came tht
news that there would be trouble in clear
ing gold at the Gold Exchange Bank. Or
inquiry Il was found that two dealer!
were behind hand with their statements
and did not care about paying the higt
loan rate for the use Of the coin with
which to clear. The temper Of the mar.
ket at this time was such that II clear
ance had not been madera new panic
would have resulted. The officers OF the
Gold Exchange Bank did their best Ia
secure a clearing, and finally succeeded.
Then the shorts began to cover, and in
the confusion the market was very ex.
cited. The price moved up to 114i,
against I'LL at the opening. ~
The first failure at the Produce Ex.
change Is reported. A very respectable
houses, though not one Of the largest
whose credit has been first class has, 1t
Is said, been forced to succumb' in conse-
quence Of the trouble in tho export trade.
The name Is not given.
The announcement Of the suspension oi
four Chicago banks created temporary
depression, but the press dispatches were
reassuring in tone, and soon restored con.
fidence. ~
Leading members OF the Produce Ex.
change were interviewed to- day, with the
following result: No very bad effect has
as yet extended to the -four trade, and
dealers have every confidence that their
business Is to suffer no serious injury.
They are running carefully, and are tax
ing wise precautions against disaster.
Fortunately, the stocks are moderate for
the season, and receivers are not pressing
sales. Shipping grades have declined 90
cent?, and family grades Is cents on the
barrel.
The heaviest consignees have advised
the Withholding Of drafts by Western par.
ties as a precautionary measure only.
Provision dealers have, expressed very
similar views. The shipping moyement
has been! checked, and unless the block Is
shortly relieved there will be sacrifices.
The only relief Is a free exchange. There
was a small business In lard on the part
OF spectators in the general packing and
shipping trade. Things are tightening,
but exchange can yet be sold at some
price. The feeling Of grain men Is like.
wise reassuring. There arc croakers,
Of course, and there are few who
have more reason than others to
apprehend the difficulty because they
have more on their hands than they can
carry along, but the common sentiment Is
that Notwithstanding grain has got to
stand the brunt oftrouble in the CONNER.
cial world, 1t Is yet the most solid and
interest in the whole country.
Considerable grain was purchased To- day
for steamers sailing tomorrow. There
was considerable excitement at. the Cot
ton Exchange to-day, and o great many
sales were made for October prices which
varied little from those on Thursday.
The arrivals ofcotton to-day were from
Galveston 1850 bales, Charleston 225,
Wilmington II, Norfolk 3l3 and Rich.
mond 120.
THE GOVERNMENT GETTING MoNRY OUT
OF THE PANIC.
WASHINGTON, Sept. 26.-Over $l2, ,000,.
900 worth Of bonds having been purchas.
ed by the the Treasury Department, the
annual saving. OF interest to the Govern.
ment will be about s750,0Oo in gold.
EVERYTHING CHEERFUL AT BUFFALO.
BUFFALO, Sept. 2G.-Everything in Fl.
nancial and commercial circles wears a
cheerful aspect hero to-day.
Nobody Scared at Fl. Wayne.
Fr. WAYNE, Sept. 2G.-As yet neither
the banks nor the people have been at all
alarmed with the financial crisis In New
York ard other cities. Our banks are
paying all depositors whatever they de.
mand, and business is going on as II
had happened. The Presidents
Of the Ft. Wayne National, Merchants
National and First National Banks say
that they will continue paying as long as
they have dollar. No one shows the
least symptoms Of uneasiness. The re-.
ports from all parts Of the country, wheth:
favorable or unfavorable. do not change
the condition Of affairs here In the least.
The Feeling at Cincinnati.
A FEELINGs OF SATISFACTION OVER THE
ACTION OF THE BANKs-THR PEOPLE
HOPEFUL AND REsoLuTE. on
CINCINNATI, Sept. 28.-The, second day
under the new bank arrangement has
passed satisfactorily. At meeting OF
the Clearing House Association held this
afternoon alter bank hours, the general
opinion appeared to bethat matters were
working favorably. The banks and bank.
ers also Seem 10 be thoroughly in syrnpa5
thy with the plan adopted, and there ID
a manifest and cheerful yacquiescence ~
the expressed wishSof the majority In re-
lation TO all the details Of the movement.
The association at this meeting adopted
q resolution, the nature ol which was
in last nights dispatches.
This u provides that oil g currency
deposits hereafter may be drawn upon az
the will Of the deposition. This makes for
future deposits q new rule from that aps
plying To- the old ones, and will invite cur.
rency from many quarters where it5is now
lying unused. All the securities thus lar
dainaudedl by The COMMITTEES III. charge Of
the matter have been forthcoming. z
The general feeling here today Is one
Dissatisfaction in relation to'the action Of
the banks. -,..,- ] X
The news from Chicago had D depres-
sing effect on Change, but did not pro-
duce a'papicky feeling, There has been
but little doing in the, general market.
Things are largely alta stand still.
II Is almost impossible to negotiate
drafts at present, and as consequence
the movement, of the hog product 10 al:
most suspended. Buyers are iudisposed
to makenew purchases, and holders! have
DO inciinstionto throw stocks on o market
which isunprcpared to receive them. The
business men are as. rapidly as possible
adapting themselves TO the changedc
cumstances and the whole temper OF I
people Is TO grin and bear the pinch until
shall be restored and the
blockade on commerce relieved
Ia vi. RxPEoTs TO 'RRsuMB. ~
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