The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-09-21

suspended.
ALBANY, September 20.-It is rumorcd
that Squircs & Sons have suspended.
TORONTO, ONTARIO, September 2o.-H. J.
Morse IL Co., bankers, have suspended.
BALTIMORE.
from the Sun of the 2oth.I
The only effect here Of the collapse Of
banking and stock houses in New York aud
Philadelphia, and the large tumble in stock
prices, is to make money rather more hard
to get by borrowers. The financial atmos-
phere of Baltimore was wholcSomely cleared
by the large commercial failures in our midst
last year, and since then business and tinan-
cial operations have been kept quite within
legitimate bounds. Our banks have pur-
sued generally Il conservative course, huS-
banding their resources for regular custom
ers, or. if going outside, looking mainly to
only stable securities. Hence there is nothing
mnickv here whatever, and no run onany Of
our banks or financial institutions. Deposit
ors generally rest quiet, and business, both at
the incorporated banks as we'll us the private
banking houses, goes on rs usual. There is
less disposition to make loans for the time, Of
course, and money on tie street, for which
the rates have been for some time rather
stiff, are if anything sitter. Best paper COM
mands 10 to y per cent. The limited class
of buyers in our midst Of the tluctuating
stocks of the New York market, who had
been bulling them, necessarily feel the effect
Of the crash in prices.
COMMERCIAL INTERESTS LITTLE
AFFECTED.
baltimore Sun, 10Th.
81 -
have come at last. and rs it rcccdcS those
who thought only Of the food and rocked
not Of the cbb are caught and stranded upon
the shoals. Unlike previous disturbances
| which have a2itatcd 1.-THE street - unlike
| the notable "BIack Friday" of 4 former
September-thc present crisis docs not APP
pear to have been engineered" or brought
about by artificial means. 1t is part, rs we
have suggested, OF the incXorablc logic OF
cvcnts-the natural outcome OF il state OF
| things which had been going Oh almost I'M
checked for years Another noticeable fact
is that the trouble seems TO be purely tinan-
cial, and the havoc. so far, confined to
1.-THE STREET.-THE operators and dealers
| in speculative stocks. Strictly commercial
| interests appear to be comparatively very
little affected. although it is impossible but
|
should suffer from the temporary >tringencY
and consequent sta@naton that such state
of affairs is calculated to produce. Happily.
the general business of the country tests
upon Il sound and hcalth!ul basis, with the
balance of trade just now in our favor, with
specie coming i'll from Europe, with ior-
cigu demand for our cereals, and al album
dant supply at home Of those staples OF MI
4 /; Il I, .lnI
| fact that business has been generally dul *
| an additional element Of safety. 1t has been
! dull because the spirit of speculation in trade
| has not been rife. and the spirit OF caution has
generally prevailed. Ifthcra ofmoEcy have
been hio il it has been because of the Fictitious
demand for speculative purposes, created and
kept up by the very class who are now pay
ing the penalty of their rash adventures. 1t
NAV be that the storm which is now sweep
ing Wall street. when it has passed. will be
| found TO haze cleared and purified the flnan-
cal atmosphere. and that m easier money
| market will result from the removal OF the
hungrieSt and most importuuatc borrowers
| from the field. In the mean time there Is Il
lesson and warning for all III the events
which have just taken place, and whole.
some discipline in the necessity which Will
| be felt Tor close dealing and the exercise OF
greater prudence in business transactions.
| In any event, it is to be hoped that the banks
and the merchants will be able to weather
the storm without calling upon the Jupiter
of the Treasury Department to control the
elcments-itself growing vice and danger
| to our financial system, which return to
sounder principles and u Soundcr currency
alone can ob1ale.
WALL STREET ON THURSDAY.
| TIE DESCENT OF THE STORM-LOSSES OF
| MLLIuNS-nEMONlAC SCENES AT TUE
| STOCK EXCHANGE.
| New York IIerad's report, 10th.
| A stolm burst Yesterday over our fInanclal
centre which threatened TO conYllSe and dis
tort al! existing values. In Wall street every
| COMPARISON starts from the great gold panic
known as Black Friday; and yesterday, Tor
| the first time in four years, people were
| u,;ll;np tn nyyn that they were WitHeS. ing