Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-10-07
FINANCIAL.
The Panic Spending Its Force On
the Working Glasses.
Depressing Effects on Manufacturing
Interests.
whSresaie Discharges of Willing
workers.

depressing EH6ctS Oh M8uuiactuIinS
Interests.
wheresais Discharges Of willing
workers.
NEW YORK, Oct. 6.-Comparative quiet
reigns In Wall street and neighborhood. A
feeling of confidence is daily gaining ground.
The banks are gradually returning 70 their
former positions. The members Of sus-
pended firms are unanimous in their asser-
ton that creditors are generally with their
plans for resumption of business, and
that they will soon be enabled to resume
operations. General attention now seems
to be directed to the dry goods and manufac-
turing interests of the city which are re-
ported to be suffering from the stringencY
of the money market. Several manufac-
turing firms up town, employing hundreds
of men have already partly closed their es-
adjustments, giving dearth Of sales as the
reason. Builders and others it is said have
been compelled to discharge their workmen
as but few contracts are made.
- More of the Same Sad Sort.
{ PHILADELPHIA, Oct. 6.-The Baldwin
Locomotive Works have discharged one
hundred hands.
N0W NEUTRALITY-SUSPICIOUS. hCCAh w VIII
Only soc Gold.
NEW ORLEANS, Oct. 6--Gold nominal;
sales at one twenty four for certified checks.
Currency opened st &c advanced 50 and
closed at sac for certified checks. Sterling
nominsl.
Cincinnati wants Free Ranking.
CINCINNATI, Oct. 6.-The G ncinnati
Pork Packers Association to-day held q
meeting and elected as President Briggs S.
Cunningham. The Direc .oIs of the Board
of Trade to-day adopted resolutions favor
ing the repeal of al uSury laws, with per
cent. interest in the absence Of contract,
and the modification of the National bank
ing law so ss to allow associations having
$4,000 of government bonds the right to
deposit the same and receive national bank
notes under the restriction of rendering the
bill holder as secure as under the present
system.
A Dayton dispatch ssys Hortsmsn & Ger
man, bankers of that city closed to-day,
neither paying out or receiving.
The washington OuflOOk-Bankrupts
The outstanding legal tenders are $685.
649,0SS.
Special Dispatch to the Cincinnati Gazette.
WASHINGTON, D. c., Oct. S.--The only
National bank reported as suspended is the
First National at NJ nsield, o., which tele-
graphs notice of voluntary liquidation.
The National banks at Augusta, Ga, re-
ported as broken, will continue business.
A curious case under bankruptcy came
before the District Court to-day. A firm
here lately made an assignment OF its
property to the District, 10 amounts of the
defsIcation of relative of one Of its menu
bers, as Deputy Collector. Certain BAlti-
mole creditors now petitition to to have the
firm sdjudged bankrupts on the ground OF
this assignment.
ShinpIasters.
Notwithstanding the favorable conditiO n
of affairs, the associated banks have decided
to issue bank certificates, payable to bearer,
in denominations, of tens tIentieS and
other small sums. These are based upon
such collaterals as the Controlling Com
mittee choose to accept. Two national
banks, one private bank, and three savings
| bangs unite in the issue of these certin-
Gates. The general belief is that the Dis
trict securities will be taken largely by the
committee as collateral.
Special to the Louisville Courier journal.
There Is an obvious attempt to substitute
irresponsible shinplaster currency for the
regular currency, provided By law, and there
| is much curiosity to know what course
Controller Knox will deem it proper to pur-
sue in'regard to the banks CONCERNED in the
attempt.
The Banking System.
The Sunday Capital, in All alb e editorial
condemns the present backing system.
Special to the st. Louis Republican.
Jay Cooke & Co.
WASHINGTON, Oct. 4.--The proposition
of jag Cooke & Co., made known here to-
day, to transfer all their property, including
their individual pro perty and that OF theil
wives, of whatever character, to Mr. Rol-
| Inns, in trust for the creditors, paying in tVC
per cent instruments as that sum shall be
realized from time to tims from the assets
meets with general favor in this city. Mr.
Rollins will be recollected as commissioner
of internal revenue for several years, and Il
now the president Of the National Insurance.
Company of Philadelphia, of which jay
Cooke was the principal stakeholder. 1t il
understood that this proposition Of Cook
s. Co. also includes the option OF CREDITOR
to take real estate or other property Of the
firm at its appraised value.
l. The First National.
| 1t is stated that the suspended First Ma
tionsl Bank of this city will pay 70 pc
cent. of its indebtedness irrespective o
their claims upon Jay Cooke & Co. 70
about 100000.