, 1873-09-30


Clearing House. Tho Lnwronco Savings Bank
commenced paying It's checks to-day.
ST. LOUIS.
Special Dispatch to Tho Chicago Tribune.
ST. LOUIS, Sept. 20.-There nre very fow men
IN Bt. Louis, either merchants or bankers, who
protond fully to understand tho situntion. Tho
1nanoter who tolls you ono day that everything
is all right, aud TINT in wook things will go on
Bwimmingly, tho noxt day Is dospontlent. On
tho contrary, tho nun who was depressed yoster-
day Ia to-day cheorful and hopeful. It docs
really seem as If things woro In q better condi-
tion. There is no porcoptib1o. alarm In my
quarter.
THERE IS NO RUN
upon any Of tho banlls. Ncarly every bank con-
nectod with the clearinghouse has put up tho
required amount OF collateral, and is doing {.
certain amount of judicious bueiness. Some Of
them say TINT they arc accommodating their
customers Just aa usual. Several banks Of st.
Louis have
RECEIVED CURRENCY PROM NEW YoRE.
Ono banking institution has had its paper dis
counted by Now York bank to tho extent Of
$4,000, and tho currency has already come to
hand. Money is again being advanced On East
orn shipments in limited amounts, md produce
Is consequently beginning to move Eastward
slowly. Tho commission mon who havo been 30
far worried and perplexed aro now more conf
dent. There we're good many
TRANSACTIONS ON 'ouAnaE
to-day, and priccs wero notably atitfer, owing
largely to Chicago adyices. Tho commission
merchants show with pride orders from tho East
and lotterB from patient, long g-su1ering, and un-
paid correspondents in the. interior. AL
this ia cheering, aud , the hopo ia gen,
be accelerated and permanent. To say norely
this, however, would make matters geem d little
better than they are.
TIMES ARE HARD,
aud mon do not get all the accommodation they
want. Currency is in great demand, and a high
price is often paid for 1t. Tho certified check
system is not yet working perfectly, and poople
do not know to what oxtent those checks eau be
OF the banks, these checks might pass % freely
aa currency, hut they aro not 80 thoroughly &c.
cured aH the National Bank issue. There Is no
particular roa6on for mistrusting their validity,
but d panic ia like dseaae, aud must have ita
course. Various merchants arc advertising thAt
they will
TAKE CERTIFIED CHECKS
in payment Of purchases, and there Is no doubt
tho sight. thoy will bo freely used. A banker
said to mo to-day, "Produce must move East
ward, and that speedily. They have got to have
It abroad, and thoy must have It in tho East
Tho very pressure for Eastern exchange, and
this need Of our products, will be tho two causes
that will conspre to move grain and restore q
| healthy equilibrium"
THE BRAVE rA1K OF CHICAGO DANKEns
| is regarded IN some quarters hero as merely
huncombe. ShroWd people Guy that Chicago il
really holding on to her currency as tightly as my
| city in tho country. and her bankers, although
they have not adopted tho plan of using Clear
inR-House certificates, are dealing In niggardly
W ae hS assF o sod dsas s
they can possibly help. Tho bankers hore say
that thoy have takon tho frat shock Of the panic
and stood 1t, and now tho morcaatile and man
ufacturing community must stand the recol.
will be impossible to really judge Of tho effect OF
this financial t1oublo and ta11o q good look ahead
before tho end Of tho week. In any event,
the manufacturing intoreats Of 6t. Louis must
| moaHurAbly suffer.
| THE RAILROADS..
Railroads arc to g certain extent disoreditod
by tic failures OF Eastern atook-doalors. THOR
business will ba injured, and they will be checked
in various ways. This will at once affect tho do
mand for railroad iron, one Of the most fmpor-
.tant Industries Of st. Louis. 1t is reported this
afternoon that 700 mon have just been, dis
charged from the rolling-nills Of Carondelet,
The Washington lumbor-mills paid off their
hands today and stopped running.
| PROPOSED EC11r ISSUE.
The proposal OF the city authoritlea to lssuo
city scrip to an indefinite amount is vigorously
opposed by most Of tho American dai!ies, and
diaapproyed Of by tho wealt)ior bankers. Some
Of tho lattcr class say we have currency enough
In tho country now for tho transaction OF its
business, ind there is no neod Of swelling itt
volume.
rAvoRs SOLICITED.
Resolutions wore introduced ON Change to-
dny, hut not aotod on, requesting tue banks ir
New York to be aB accommodating aB possible tt
produce mon until tho grain trade should bo ro
stored to itH normal condition.
| THE CITY TO lH8uE SCRIP.
The City Council Tonight by Il vote OF 2a tt
l. decided to Issue S30000 in CITY scrip. Onl,
two members were abaont from the meeting
The scrip will be engraved by tho American
Bank Motto Company; aud will DO roady for us'
Homo timo noxt weok.