The Rock Island daily Argus. [volume] (Rock Island, Ill.) 1872-1873, 1873-09-26
TELEGRAPHTc,
Suspension Everywhere.
Waiting to get a New Start.
The British Rushing in
with Cash to get Bargains.
Opening of the Chicago Ex-
position.
Another Fatal Experiment
with a Balloon.
The u. p. Quarrel About
Termini.
Opening of the Chicago Ex-
position.
Another Fatal Experiment
with q Balloon.
The u. p. Quarrel About
Termini.
Other Items of Interest.

CHICAGO, Sept 25.-It transpires that
an excited meeting of the Clearing House
Association was held last evening. lasting
until 80 at which it was resolved to sus-
pend currency payments The proposition
was made by Mr. Coolbaugh, of the Union
National Bank, and was strenuously op-
posed by Henry Greenbaum. The point
was only carried by Mr. Coolbaugh declar
ing that the Union National Bank would
suspend any way this morning.
AT the stock yards it is impossible to
transact any business, and the railroad
companies have issued orders to points not
to receive any more stock, as the yards are
full On the street the sales of country
produce are extremely light, being confined
to supplying the wants of the retail trade.
Transactions are now made only for eur
rency.
A feature of the day was the arrival of
several Canadians loaded with United
States currency to buy grain. There is
no trace of a panic here although bust
ness in grain and live stock is interfered
with.
SPRINGFIELD, ILL.,, Sept. 25.-There ex-
/ lists some little excitement among business
men and more among bankers, but the
/ banks are going on as usual. The bank
/ Presidents and Cashiers are holding a
meeting tonight with closed doors, and are
now Il P NJ still in session, but positive
1 ly refuse the press any information as to
what line they propose TO pursue. | have
an idea, from what | can learn surrepti-
/ tiously that upon the question of the Chi
cage policy or not our bankers are about
evenly nivided.
/ QUINCY, ILL.,, Sept 25.-The feeling here
in business circles is somewhat excited over
the news from the eastern money centers,
but no anxietyis felt regarding local banks
Business proceeds without serious inter
ruption, except the movement of cattle and
produce, which has come TO a stand still
The action Of the Chicago banks in sus.
pending currency payment is considered
by our bankers and business men as wise
and timely, and it is believed, if followed
up in the large cities generally, will arrest
the panic, and open the way to speedy re
lief
PEORIA, ILL., Sept 25-0ur banks have
resolved on suspension of such payments
as would embarass legitimate commercial
transactions. The general feeling among
the business men here is that the bank
, have taken the right course.
ST Louis, Sept. PA slight run hav
ing been made on the banks in kansa
City yesterday, it was decided at a meeting
of the bankers there last night to suspen,
the payment of checks or drafts, either il
currency or exchange, until the excitemen
5 in the east subsidies
(lI1r haplS tbfs a1opfa1 bSf
TALLY the system practiced in New York
Two millions in Clearing House certificate
will be issued.
DEsMoINEs, Sept. 25.-The monetar
, panic creates great deal of interest, bu
not a dangerous excitement. The genera
belief seems to be that coolness and calm
ness on the part of the people for a fe'
!, days viii bring things out right There
general disposition to treat the bank
with friendliness and confidence No il
clination has been developed to make q ru
: on any of the banks here, and all of thel
: are in a quiet and safe condition, doing a
" their regular business without excitemer
or interruption. The action of the Chici
go banks to-day is very generally commend
/, ed Our business men will sustain tf
Il Des Moines banks ina like action if it b,
comes necessary. Our bankers are cont
- dent that the panic will end speedily an
without serious injury to any part of Il
country. There are in this city two nj
tional banks, two private banks and tv
savings. One of the national and the tv
private banks are owned by B. F. Ale
President of the Cook County Nation
Bank of Chicago. Public confidence hi
not been disturbed in a single one of OF
banks and but for the temporary stagn
e ton i'll the grain aud stock trade, nothir
out of the usual course of trade would
i, noticed here.
+ Council BLUFFS, Sept. 25.-There
f but little excitement here and no distu
,e bance of business beyond the stoppage
'. the grain trade Our banks do not anti
f pate trouble and approve of the course
,e the Chicago banks and will adopt the sar
n measures should the occasion seem to I
n quire it.
of INDIANAPOLIS. Sept. -Considerat
RS excitement was caused here this morni
lie by the announcement of the precautiona
u measures adopted by the Chicago and CT
cinnati banks, and this excitement "
G. heightened by the suspension of the p
ck vate banking house of Wooden, Webb
IN Co.
MEMPHIS, Sept. 25.-There is great c
: citement in this city on account of the s,
pension of banks, caused by their inabil
to realize on securities in New York. 7
following named banks have closed up
day: First National Bank, DeSoto Bar
and it is reported the Freedmans Saw
and Trust Company. There is heavy r
/ on the Others
! NASHVILLE, Tenn, Sept 25.--The
tional Banks have suspended payment
all checks exceeding $500.
- SALMA, Ala. Sept 25.-The Selma S;
Z. ing Banks suspended to-day.
ATLANTA, Ca, Sept 25--The Dol
Ore Saving Bank, of this city, suspended
, day 1t has ample securities.
: AUGUSTA, Ga, Sept. 25.-The Natio
Exchange Bank, Merchants and Plante
National Bank of Augusta and the Pla
,rd rdi ers Loan and Savings Bank have suspe
IN, he ed.
ock NEW ORLEANS, Sept. 25.-All the bal
oi have suspended currency payments.
t, A meeting this morning Of ali the b,
Presidents In the city except two resol,
. to pay no checks for more than 500.
the larger checks to be certified, the
rangement to continue for thirty DAYS.
- The merchants generally approve Of
u course the banks have determined nner
. BALTIMORE, Sept. 25.-The officers
,lic. the Associated Banks of Baltimore !
tch- this afternoon and resolved, in view of
present financial panic, not to pay
sols money ON checks except what may be
fss nl1ired for legitimate hnsinass nurnnse.