The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1873-10-02
THE STOCK PANIC.
A LULL AFTER THE STORM
The End Near at Hand


New York, Oct Patton & Co., one of
the oldest dry goods houses in this city temper
anly suspended today.
The Danfurth Locomotive Works of New
Jersey have succumbpd to the financial string
ency aud will place the employees of their
foundery on half time. OF work two gangs, on
o. men,
Forty employees of the Morris and Essex
railroad at Hoboken were discharged yesterday
and about 159 at other points, because of the
liability OF the company to obtain currency
They lave plenty of funds III the bank but can-
not get their checks caShed.
Chicago Adviccs.
A special from Chicago says that the settle
ments at the clearing house were all made to-
day aud there is a better feeling GU change.
:, During the panic the telegraph business of
New York increased fully three fold, as shown
by the receipts of the various companies.
Washington specials say the financial outlook
there is now very bright and cheerful.
There was very quiet feeling in financial
circles today. with an entire absence of any
exciting event
Nothrop n Chick suspended this morning,
but their failure had no influence on the stock
exchange as they had no stock, their suspen-
sion beng caused by the withdrawal Of depos-
its.
Condition of Markets.
The Erie ring is paying 81 per cent. dividend
on preferred, and per cent. on common stock
today. AT the produce exchange there is more
business and better feeling. Brea lStuffs being
moved more rapidly. In the money market
today, the stock brokers pay per cent with
commission of l6 and 1-S for their loans,
which is about all that Is quotable. The banks
lend all they can To their customers at per
cent. aud mercantile paper while inquired for
does not sell.
Hi@hiy Indefinite.
In response to kilograms from the Chamber
n.NE
the Treasury; said kilograms referring to a
statement that the government Was ab tut TO
place two millions in currency at the sub Treas
ury in New Orleans; tie BIZ paid into the banks
there on checks on New York, and asking that
half million he placed in Charleston for the
same purpose, the Secretary of the Treasury
says: charleston will have all the relief af-
forded other places" 1t is true that $4,000, 900
have been placed i'll New Orleans. but this is no
new feature. the government always keeping
currf my in New Orleans
Owing to the reception of favorable tinan
cial news from varIons quarters money is be-
coming easier in this city.
Lower Rates for VI oney,
CINCINNATI, Oct 1.-BusnesS very quiet
but more confidence and cheerfulness is appar-
emit Lower rates for money prevailed on the
street.
have suspended Liabilities $S00O0; assets
$4,000.
CHICAGO, Oct. 1.-The financial situation
here THIS morning is much brighter than yes
tcrday. There is a much firmer feeling in the
grain market, with an advancing tendency in
the prices.
A Good Indication.
LOUISVILLE, Ky, Oct To-day the Plan
ter's bark, Peoples bank aud Louisville City
National bank Withdrew from the clearing
house ASSOCIATION. They are paving all checks
presented. They Withdrew OH the ground that
there wa no necessity for a comoina.ron
ISOLATION dissolved Tonight