, 1873-09-22

GOULD NoT nEALIxK DOLLAR
On hs and wisely olonod ia doors until 1t could dis
pose Of tl,om Runs on the Fourth National aud
Manhattan Danks wero laughed to scorn by those In
stltutions During the morning, the banks went on
the principle Of hsh,-oach man to drag out his OWN
corpse,-aud refused zach others checks but later
meeting Was hsfd and
CONCERTED ACTION AGREED ON;
and subsequently there no further trouble. Tho
purchase Of bonus by Government also AIDED to break
tho force Of tho storm Tho datrust which prevailed
on Friday night not general III fact the promised
action Of tho Government had, In mcaauro, restored
confidence to many, bt carly on Saturday tho excite
tent ronowcl BY ths discovery that tho Union and
National Trust CompAnSa
Din NOT orKr THEIR DOORS.
Tho Stock Exchange Ind opened amid excitement In
consequence Of tho further depression Of stocis In
aales before call and, before half hour had passed
confusion reiBucd supreme, increasing ID tho time
passed aud rumors OF tho suspcnstona of banks bc-
camo established facts At no time during tho soaaion
on Saturday was budding measure Of tho valno Of
atoctB for frequently the value Of stocks sold at
three aovora prices by brokers within few fcct Of
smother. Tho whole Doard appeared to bo
HELrLEssLY CONFUSED,
and ut ono tmo 1t Beemed aa If the bcars wero much
distressed n tho bus, at tho constant decline Of
values. Tho resort which was had In thu aftcr
10 tho closing Of tho Exchange WAS, therefore,
hailed by both sdea relief which prevented the
market from becoming hopelcasly confused, anu 1t
concealed the 1act that the street. was really prokon'
proposition TO suHread opesauons ~as fnAdo ff1aas
OUT tno broker VINO ohetea tho fesolat'on "aa
ftoo1Ep At AND aEvr1Ep.
On Saturday, his wisdom Of tho previous dag MAS
knowledgcd aud acted on. Tho Board con6emed t.
with cheers, which drowned tho rudo c!angor Of tho
sohg WHICH "nnouneeo 'he e4o9anB o. 'uo 11'u"ise
~" - ano",a W l'opeaeu =. 1"o o'.s 1"oA y. ~.
.n ~ ~ ' ou.s.au -
ns.s a.. s,,s. -, a., Ts.,,. epos sso.. o.
-, .,..Io =. a 10 ..a ~. 1s..,... puss
.a,.,s.s ~na sea =, o 49, ~ s.asas nv ~
~. ~ .sr,h.-. ~ ~ n,,., ra- =, the.. 1a, ~
,,a .rsat 1 ~. ,t+..o1 .1d - .,, ,urthor - 49,
nrm h tho -3a,otn - t ~ c1os,ne T:Irbang.
IaoN r11r ernrrr
proya much bottcr than tho c,oatnR rates of thu
Board. o,hcr measures Of 1elict had becn
taken to hcIp tho pressed banks, The
Gold Exchange Bank raturncd many ststemcnts
handol into It Al tho Clearing House for potd ex.
change; and this prevented further exciting spocula-
ton. al It depressed previous settlements Tho bank
Presidents met aud resolved to issue $l0 00o, 600
| temporary loans IN certificates making a common
funds for Ill the banks TO draw upon and resolved
to
STAND NJ ONE ANOTHER
Tho effect Of thia wau highly rcasauring and before
so,cloct the street had recovered much of liz
posure. Whsn Trinity chimes marked tho division Of
tho afternoon, they had cheerful aound to tho music
Of which tho crowd marched homeward little ess do
pres'ed still sore 1t the impending ruin or IN doubt
~ 70 the future.
TIE CONDITION OF susPENDED FIRMS.
Few statements as to the condition Of suspended
firms eau 10 had. In majority OF cases, tue su6-
pension uas not master Of Immediate and absolute
neccasy but war; by MI means, the wsost and safest
thing to do. The panic showed no aigns
OF abatiug, and they deemed 1t a
DANGEROUS experiment to attempt standing
against the Storm By suRpondng at they aavoti
thousanda to theselvos, and by taking tho same stop
tuenty-four hours earlier they might havc done still
natter: but ttoy could not toll how long tho storm
would continue and held out In hone TINT they might
| .-.., d .,,+ ..ch e,ccoad,ne bour ,,,obt hrirp
,aWar r. r.,or.tx ~ c.a,s oe tha ,usncr,tou.. !,
-, ~ .,.,.,, ,.,u +. tu,,nox.ur ,,d ,,,,,ha,
laval =, so.,r,o h,stnc.a sb,n , 1rook