The Rock Island daily Argus. [volume] (Rock Island, Ill.) 1872-1873, 1873-09-27


The Manufacturers National
The Cook County National.
The Second National
The National Bank of Commerce
The first failure at the Stock Exchange
is reported, the name not being given.
The announcement of the suspension OF
several Chicago banks created Temporal
ry depression. but Press dispatches, reas-
suring in tone, soon resorted confidence.
IOver twelve million dollars worth Of bonds
having been purchased by the treasury
department since the commencement OF
( the panic, the annual saving OF interest TO
/ the government will be about S750,000 in
gold.
CHICAGO, Sept. 26.-There is a great ex-
citement here regarding the crisis at the
( Clearing House The Union National, the
( Cook County. the Second. Third and
Fourth and the Manufacturers, did not
make their clearings. There has been a
heavy run on the Corn Exchange Nation
al. National bank examiner, SPHINX, pro
nounces all our banks in solvent eondi
ton.
/ CHICAGO, Sept 26.-Miduight-The ex-
press companies report the receipt of one
million in currency within the past 24
hours. 1t is useless to disguise the fact
that Chicago pride has been greatly hurt
by the bank suspensions to-day. The
Clearing House Association is now discus
sing the New York loan certificate plan, so
successfully adopted in Cincinnati, Indian
apolis and elsewhere. Mr.. B. +. Allen
says if this can be done the banks will at
once resume.
MILWAUKEE, Sept 26.-Our banks are
now in as good condition as before the
= panic. A quarter of a million of currency
has within few days been received from
the east.
DUBUQUE, Sept. 26.-The Merchants
National suspended this A. NJ. No one en-
tertains a doubt of its speedy resumption
The First paid only small checks, while
the Commercial transacted business a.
usual
ST. LOUIS, Sept. 26.-The general mar
n ket is very much depressed. There is nj
disposition to bu7 or sell; not enough do
ing to make the quotation of any article.
CINCINNATI. Sept 26.-The second da.
under the new bank arrangements ha
passed satisfactorily At meeting 0
I the clearing house association, held this A
NJ after banking hours, the general opinion
appeared to be that matters were workin
? favorably The association resolved tina
If the currency deposited hereafter may b
drawn upon at the will of the depositol
G. This makes for the future deposits ne'
t rule from that applying to the old ones
t and will invite currency from many qual
e ters where it is now lying unused.
= INDIANAPOLIS, Sept. 26.-Uuder tn
- rule adopted by the clearing house las
y night nearly all the banks report that the
= deposits have been larger to-day than tn
of amounts drawn out The Savings Banl
w. have met all demands on them promptl
io and like the other banks, their deposit
i have been in excess of the amount calle
- for
O. TOLEDO, Sept 26-The failure of Il
ck banking house of Krouse & Smith is a
hn nounced this morning, an assignment ha
ing been made after bank hours yesterda
- 1t is understood that the causes of tt
failure are traceable TO embarrassment
arising several years ago, the most prom
nent among which were realized to lar
M, real estate operator. The bank had on q
rd, posit $4,000 of county and city funds, a
be $28, 600 Of Toledo school funds 7
Of amount of liabilities and assets cannot II
be stated There is no excitement.
BUFFALO, Sept. 26 Everything in t
. financial and commercial circles wears
cheerful aspect here to-day
. New YORK, Sept 26.-The scene
Wall street was much less excited tod;
The crowd of brokers who have hithe
blocked up Broad street, in front of {
Stock Exchange was much less than
the morning, owing to the energetic act
- of the police captain of the Second p
cinct, who directed his men to disperse
: groups which threatened to interfere W
sidewalk traffic The brokers were by t
means driven into the road: but they fa
Ill. no better there The police ordered tru
to be driven through the crowd, and cC
- PEELED the brokers to scatter in all dir
,,.o tons Driven from Broad street some
the most inveterate spectators and Gu
stone brokers adjourned to the Gold
change Court, and held high carnival tn
tor about fifteen minutes, when the {
II geant Of Police, with half dozen 1
drove them helter- r-skelter from their reft
The police filled Broad street with ha,
and the crowd was broken up.
no, New YORK, Sept. 26.-The gen
feeling III financial circles is decidedly
Drain proved The day record closes with $,
sm @ confidence The belief is that the bot
of the panic has been reached in this {
and there is fair prospect that when
on stock exchange opens there will be but
I'll, tie left to arrange in the way of Sc
ments between brokers, SO that there
,N be no new failures to announce The bs
SN' are ready to pay currency to meet
rolls, salaries, family and business exper
Howes & Macy have issued a circ
Jp. to their depositors, saying: I'VE
pose to continue business as usual
nd receiving special deposits in trust on