Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-09-21
If he New Jersey Central railway last eve
A Test of Fidelity.

| PHILADELPHIA, sept. ZU.-Ine F1de.lty
| Trust Company did not close at 8 P. NJ.
yesterday, but continued to meet all de-
mands, receiving checks as late as 5, at
which hour over Dine hundred thousand
| dollars had been paid out. Mr.. Brown, the
President, said he would keep open until
midnight if it was necessary, to show de.
| positors that that institution was in sound
| condition and able to meet all claims.
where are the State Funds of PENN
syIvania?
It is authoritatiyely stated neither the
| State nor city funds are disturbed, the State
and city Treasures having no. connection
whatever with Jay Cooke & Co., or any Of
the e dangered houses.
Distance Lends Euchantment.
LONDON, Sept. 20.-The London Times
commenting on the financial panic in New
York, says: In view of the extraordinary
prosperity of the United States and the
| high price of Government bonds, the pres
| ent gust must be remarked as simpi
| IL an effort of the financial system to get rid
| of its dishonest elements.
The Telegraph says: Such local troubles
as the SUSPENSIONS in New York seem to
be, are merely the rank outgrowth of an
exuberant prosperity and the accessories to
Q pro gress which does not for . moment
halt. ~
Philadelphia Failures Yesterday.
Third street is comparatively quiet this
morning. The run on the Fidelity Trust
| Company has almost entirely subsidized.
| The Union Banking Company did not open
| to-day. A placard on the door states that
owing to heavy demands, suspension Of
! few DAYS had been resolved upon. It sus-
tanned heavy run yesterday, paying out
| about seven hundred thousand dollars, 1t is
| a State institution issuing no notes, and
the suspension only affects depositors.
| Two of Cookies Partners i'm BIissful
ignorance.
At Jay Cookies the CLERKS are preparing a
statement to be lai before messing OF the
members OF the firm on the arrival OF the
steamship Russia on board of which are
| two of the partners. The excitement over the
failures has abated, and matters are begin
ming to assume the right shape, although
! the stock market Is somewhat feve-isb to-
day. TIE failure of the Union Banking
Company, of this city, had but little effect
on the public mind as it was q small con-
Germ Sits failure cannot affect other insti-
tutions.
The Fidelity Trust and Safe Company
met all its Obligations to-day. The run
was not so heavy as yesterday only about
100000 being paid out.
At WashiRgtOn-The Syndicate and
the Freedmen.
WASHINGTON, Sept. 20-The following
was received from London to-day by the
Secretary of Treasury. 49,.
"The Syndicate account is in perfect or
der. There is universally a kind feeling
toward Jay Cooke, McColloch & Co., who
continue business as usual.
ga. G. CATTEL."
The run on the Freedman's and the
Washington City Savings Banks continues
to-day, but is much less than yesterday.
The former has paid out S650,00o. There
are about seventy-ive persons, the majority
being colored, awaiting their turn at the
cyunter and the sctusry says it is sbout The
usual Saturday afternoon crowd.
Although much interest was to-day man
ifested in the exciting news from New
York and Philadelphia, 1t has no apparent
effect On banking institutions OF this city.
The run on the Freedmens' and Washing
ton Savings bank continued, but not to
the extent of yesterday.
At Albany.
ALBANY, Sept. 20.-T. Squire q Co.,
bankers, announce their temporary suspen-
sion until farther sdvices from New York.
At Chicago.
CHICAGO. Sept 20-The Franklin Bank,
a private institution, closed doors to-day =,
being unable to settle at the clearing house.
S. A. Briggs, Vice. President, states their
embarrassment is merely temporary. 1t is
, stated a ma iority of the teachers of The pub
| L. oro 1o10oianro IN, tho hank The
suspension, however, creates no excite
ment.
At st. Louis.
ST. LOUIS, Sept. 20.-Lassaing, Comp &
Co.. closed their doors this evening, after
the announcement of the failure of their
New York house.
st. Louis not Panicky.
ST. LOUIS, Sept. 20.-The feeling here
to-day regarding monetary affairs in New
, York has been more anxious and appre.
) | hensiVe than it was yesterday, but still
there has bsen no alarm or excitement.
, Suspension of Tassaing, Gemp q Co., pro-
. duced no perceptible effect. They owe
little or nothing here, and therefore nobody
. will be hurt. The banks have curtailed
their discounts but slightly. A majority o
= all good paper Is passed promptly, and ther'
;, seems to be little or no distrust. Markets
on 'change COED deal unsettled, and corr
- and oats declined cent or two and it wal
- difficult to sell any article; but this was the
result of uneasy feeling and desire to holt
off until stead ness is sgain restored. Their
= has been no panicky feeling whatever.
y Boston Buoyant.
!. BOSTON, Sept. 19.-The financial alarm
in New York Is the principal subject o
discussion, but so far does not interior
D. with business.
II Montreal Cautious.
MONTREAL, Sept. 20.-The only efl5c
"a here of the panic il New York has been t
q make bankers more cautious and less vii
y ling to let out their funds, which are smpl
for all legitimate commercial demands. Tt
discount rate for good bills varies from I
( per cent, according to the standing {
= names
q TORONTO, Sept. 20.-H. j. Morse & Co
s bankers and brokers in this city, have sus
y pende I, owing to the failure of Jay Cook
y Il Co. and other prominent houses in Me-
. York.
. Europe Perturbed.
- LONDON, Sept. 20.-The continent;
DOurseS are ClSturDeQ ny neWS irOm N6'
% . York. Dispatches from Frankfort, Ham
. burg, Bremen and Vienna, say no failure
occurred in those cities on account of tn
! New York panic, but shat much anxiet
- exists.
Of Confident FeeIiBg In Cincinnati.
le CINCINNATI, Sept. 20.-The feeling Il
ze financial circles here continues to be one
IS confidence. Third street to-day has bee
c. free from excitement, though Intelligent
e from New York has been received wit
c. great interest, and has been freely discusse,
Q No paper has gone to protest and bank
&c generally have been caring for their GU
IN toners, though the past few days have bee
70 diligently used in preparing for every poss
no bic emergency. The merchants and mo-
It led men of the city almost uniformly b.
A lieve that Cincinnati will not be serious
no affected By the storm which is raging in Il
I'D East.
SHREVEPORT.