Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1873-09-25
THE GREAT PANIC.
NEW York, Sept. 90, 8 a. n

.orIv trains and boats. The feeling OF
saIicitude is less, however, than yester-
3oy morning. Notwithstanding the
,a,nner of the throng who swayed in and
aronnd Fifth Avenue hotel last night
mas far from buoyant, feeling of con-
flencc prevails this morning, based on
,ho determination of the banks to stand
~, each other and the order of Secretary
richardson to buy ten millions in bonds
to.lav The Hoboken IN. J. bank it is
,honGht will have to go under after the
-. organization following the recent de-
folcation of S67, 900. Ninety-four thou
Sand dollars realized from convertible
sacnrities were deposited for safe keep
inc with Fisk & Hatch. On the an
ropncemcnt of the crush yesterday
,porninr the treasurer came over for
t,ia money only to learn that Fisk Is
Iotcb had suspended. Unless it is re-
covered the hank is in a hopeless state,
,uj will also carry down with II the
First National bank of Hoboken, the
funds rf the two being common proper
n ami both being controlled by the
sam. board Of directors. Fisk & Hatch
state that having been engaged in no
socculations they are confident of recOv-
rrjnr Themselves when the storm has
somt Itself. Randolph & Co., say if
money goes down to reasonable figures
tf.v viii soon resume; that their sus-
o.n.ian Was precipitated by the fact
tba, the Fourth National bank did
10, certify their checks in time.
They deny all connection with Thomas
Scott and say the report of their being
associated with him arose from the fact
on, of the partners is his (Scott's) SON.
;n.9u White, De Freitas u Rathbone
.eyn.rt 10 resume soon. President CAL
boor Of tha Fourth National bank said
Inst evening that the bank had paid out
t3r.. hundred thousand dollars during
tuu day and is abundantly able to meet
al lariher demands.
,orng ,utogENED on ACCOUNT or THE
PANIC.
49,. court Of general sessions was adj
.uuucd carly yesterday, to give the
Jurors and court officers an opportunity
70 look after their bank accounts and So
curitics.
A1rFN,y ia STOP LETTERS IN THE
MAIL.
Ammhar Of kilograms were received
81 t.. uos' office yesterday, requesting
the postmaster to withhold the delivery
Of letters bearing the stamp of the firms
sending the messages, and which were
addressed to Jay Cooke 81 Co. The
postmaster could not comply with the
r quest, as the regulations provide that
after letter has passed from the mail
ing office the delivery cannot be pre-
vented or delayed by the alleged writer.
HE MORNING PRESS on THE SITUATION
THE GREATEST PANIC SINCE '57-.-JAY
GOULD FILLS MS POCKETS WITH CEN
rEAL STOCK.
THE papers generally agree that This
has been the greatest panic since 1857,
far exceeding the black Friday and Chi
rago crash. The Times says the person
who finally sustained the market and
kept g. from breaking to point where
hat the street would have heen jneyita.
bly, ruined was Jay Gould. He bought
Gujirg the low prices several hun lrcd
thousand shares of railroad stocks, prin-
,ipajIy Vanderbilt, thus Il chrcil was
put on the decline.
1920 a. m.-Gold opened Mt I'LL.
! he Srb.treasurcr has just posted Il no,
ticc stating that he has been instructed
by the Secretary of the Treasury to pur-
chase @10,000,O00 bonds to-day. lior-
ace Cuun & Co., leather dealers, Wo-
burn, Moss,, suspended payment. Ina
bljtics 800, 000; assets $4,000 Since
the suspension Horace Coun, the s'euior
partner. has disappeared, causing great
anxiety To his friends. Search has been
made in all directions
1910 a. m.-The Union Trust com
pany has Just closed its doors, and an
nounces that it will resume on Monday
morning. The stock market opened a
little better, but the failure of White u
Co.. was announced, and stocks fIgain
declined under tremendous excitement,
apparently as great as yesterday. The
following notice is posted on the Union
Trust company's doors: "In conse-
Quence of the large amount due the
company on call loans not having been
pain this morning, the company have
been obliged 10 suspend payment until
Monday morning at 10 O'Clock
11:15a. MA. G. White is the name
Of the firm failed. The failure of E. C..
Brodhead and Ketchum & Belknap is
announced. Stocks are feverish. Most
Of the sales are for cash, which is two
to three cents below the regular transac-
lions. In governments nothingis doing.
VANDERBILT AND AUGUSTUS sCHELI~ IN
COUNCIL.
Vanderbilt was closeted with Angus.
tus Schell in the Union Trust companE'F
Office Immediately after the suspenion-
STOCKS SELLING AT NOMINAL PRICES.
1918 p. MT is impossible to give
any quotations for stocks, as they have
been thrown in blocks upon the market
to realize whatever they can fetch. AS
they are sold only under the rule, Presi-
dent Chapman of the Stock Exchange
has issued an order forbidding all out
side operations of members, under pen
atty of expulsion. The Exchange
will not he convened except on his or
der.
GOVERNMENT BOND PROPOSALS.
There were thirteen proposals to sell
bonds to the government at the sub
treasury, aggregating $2,872, $50, at
from 100 to 112. 1t is stated by the
clearing house that the bank statement
will not be ready before o'clock, and