Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1873-09-27

delivery Of property In the future made
between the passage of this resolution
and the further order of the association.
The following banks continue to trans.
act business as usual. Commercial
national, Third national. Montre-
al Central, State Corn Ex-
change, Fifth national, First ma
tiOnal, Fourth national, Germania
international, Merchants national, Bank
of Illinois, Northwestern, Traders bank
of Chicago, Union Stock afds, Mer-
chants Loan and Trust company, Ger
man national, Mechanics and Marine
company. There has been no run upon
any Of these institutions, although some
of them have paid out considerable
amounts OF currency. To the above list
should be added the City national bank,
which the officers say have paid all de-
mands on presentation. There appears
TO be very little excitement among the
people on the streets, beyond an intense
feeling of indignation against Mr.. Cool
baugh, president of the Union national
bank, who Is bitterly denounced by
many as having unnecessarily precip-
itated the suspension of the City national
bank. 1t is authOritatively stated that
Mr.. Coolbaugh this morning received 8
telegram from his New York correspond
ent authorizing him to draw for the en-.
tire amount Of his balance there and
five hundred thousand dollars additional,
which offer he refused.
CHICAGO PARALYZED.
CHICAGO, September 26.-The failure
Of several OF the national banks here to-
day had the effect of bringing operations
on Change to nearly a stand-stilI, and
the action Of the board in passing reso-
lutiOns suspending the rules in reference
to option sales SO as to prohibit any fur
ther deals of that sort until the panic
has subsided brought everything to a full
stop, except an occasional settlement
of trade or a still rarer cash operation.
The following are, as near as can be ar
rived at, the closing cash quotations fol-
grain: Wheat-No. 2 spring, 94c; No.
8, S5c; rejected, zoe. Corn-No. mixed,
342@35c. Oats-No. 2, 26ic. Rye-No.
2. 63c. Barley-No. 2, 81 IS; No. 3, 81.
Whisky, soc. Nothing done in pro-
visions or flour. Freights TO Buffalo,
Sc. Receipts-Flour, 1000 bbls.; wheat,
l68, 900 bu. corn, rs, 900 bu.; oats, so,
600 bu.; rye, 5000 bu.; barley, $1,000 bu.
AT INDIANAPOLIS, IND.
INDIANAPoLIs, September 26.-The
panic of yesterday has entirely disap-
peared. At the opening this morning
there was a slight run on Ritzinger's
and Sharpe & Fletcher's banks by small
depositors, but all demands were prompt
ly met without resort to the rule adopt
ed by the clearing house last night. Al
most all the banks report that their de-
posits have been larger to-day than the
amounts drawn out. The savings banks
have met all demands on them prompt
ly, and, like the other banks, their de-
posits have been in excess Of the amount
called for. There is a general impression
that Wooten, Webb & Co. will resume
business in a few days. Merchants are
advertising to take their certified checks
for goods.
At meeting of the board of trade,
held this afternoon, the following reso-
luton relative to eastern freights was
adopted:
ResOlUed, That this board of trade re-
quest the trunk railroad lines to the east
TO reduce their rates on f0urth-class
freight to forty-five and fifty cents to
New York and Boston, and to other
cities of New England in the same pro-
portion; and that the secretary be re-
quested to notify the railroads of this
section.