Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1873-09-20

visible. There we're fewer crowds than on crdl-
nary days on Change, and even less vehement
talk than is sometimes display ed.
Samuel WilkerSon, secretary Of the Northern
Pacific Railroad Company, says that as usual
with financial agents, Jay Cooke 4 TO- had
made largh advances to the company, but he
did not think this had impaired their credit or
crippled them Their failure was due to sud
den run 10 consequence of the stringeucy OF the
money market, caused by the manipulatious Of
INSCRIPTIONS conspirators Two Of the mem
bers of the firm were directors of the Northern
Pacific Railroad Company. The result will be
that the work of construction will be s'mcwhat
retarded. 1t is more than probable that Con-
gress will be asked to grant an ex.entiou Of two
years to the company beyond that already
granted to enable it to complete the road
A reporter Of the Philadelphia Press on
Thursday had an interview with Mr. }. Edgar
Thompson, President of the Pennsylvania Rail
road Company. Mr.. Thompson states that his
company had no financial relations with Mcssrs.
Jay Cooke & Co., and that its monetary con-
Germs were not affected by the financial crash
The present depression of the stock Of the coul-
pany he viewed as merely temporary.
At the Philadelphia Stock Exchange, after
the great failure was announced Pennsylvania
Railroad shares declined heavily.
The Washington Star of last evening say:
growing confidence is expressed in financial cir
cles there that Jay Cooke & Go. will resume
payment very speedily
| The attachment in the case of VIM. 0. Alex
| ander of Washington VS. Jay Cooke u Co., tc
secure deposit of some $4,000, was returned
into court yesterday morning endorsed levied
| upon the banking house, &C., as per schedule.
MIR. Hatch, of Fiske & Hatch, states that
owing to yesterdays failures great demand:
came so suddenly and unexpectedly on their
house that they could not be readily met =
There was no time left in which to obtar
money on assets of the fiji or to collect money
due the firm. The house made heavy advances
to the Central Pacific, which, however, is moi
the cause of their suspension, their advances tc
the Chesapeake and Ohio having brought them
down.
Mr. FahuStock, one of the firm Of Jay Cooke
e. Co., says that for several weeks the uneasy
feeling which prevailed in connection with new
railroad schemes, caused heavy drain upon
the deposits both of their Philadelphia and
| New York houses. The deposits in beth cities
suffered continual diuinuf ion, until at the
beginning of the present month their deposits
were lower than at any time during the sevcrcSt
stringency of the money market during last fall
and this spring. The drain upon the deposits,
already so heavy, was still further increased by
recent suspensions and the demand for money
was incessant.
A letter to the Gazette from Philadelphia,
dated yesterday, says:
THE stoppage of the Bank king House of
Messrs Jay Cooke & Co. yesterday, has caused
commotion that cannot be realized from any
attempt at description. So far as | can gather
lis thought that it will cause great strlngency
10 money matters for short period. However,
almost every one has different theory, but L
think it is safest to keep cool and wait until We
see what We shall see.