, 1873-09-25

haps force them into relief from active
business, for this day at least. Most of
the sales are for cash, two or three per
cent. below the regular transaction.
The suspension Of Fisk & Hatch is
said to make probable embarrassment
IT the Hoboken bank for Savings:
A number of telegraI his were received
at thePost Office requesting the Post
master to Withhold from delivery letters
bearing the stamp of the firms sending
the message and which were addressed
to Jay Cook & &c. The Po tmaster
could not comply with the request as
tse postal regulations provide that, after
letter has passed from the mailing Of
flee, the delivery of it cannot be pre-
vented or delayed by the alleged writer.
Great crowds are in Wall and Broad
SITS. and the police are busy keeping a
free entrance to the Stock Exchange.
The failure of Ketchum & Belknap
and E. Moorehead are the latest report
ed. The National Bank of the Com
monwealth and SAKE & Kolners have
suspended. A meeting of the creditors
of Jay Cook & Co. will be held on Mon
day.
Rumors in circulation of the cause of
the suspension of the Union Trust Co.
and the defaication of Edward Haight &
Co., just announced as having suspend
Certi6cation and Merchants Bankin G
Association and the continental Bank
have been thrown out of the Clearing
House. The Fourth National Bank is
meeting all demands upon it, and they
are now numerous.
Stock Exchange closed at 10 minutes
to u. The suspension is announced of
Toussin & Fisher, P. Meyers, Miller &
Walsh, Laurens & Josephs, Dearing &
Dellinger, Williams & Bostwick,
Rumor seems right this time that a
defalcation exists in the Union Trust
Co. The President of the Bank of the
Commonwealth says the run on the
Fourth National Bank precipitated the
ruin of that Institution, and that Ed
ward Haight & Go. overdrew their ac-
count 10 the amount of $500, 200, which
they did not make good to the extent of
$40, 900. Under the circumstances the
bank thought better TO suspend.
Notice is given that a general clear
ancs cannot be effected to-day, owing to
the fact that many dealers find it I'M
possible to get checks certified in a pro-
per manner. All statements, documents
and cheques will be returned to dealers
on application at the Gold Exchange
Banks. Gold at o'clock, 1 IS. Bank
of North America has closed its doors.
PHILADELPHIA, Sept 2O.-Fidelity
Trust Co. did not close at P. NJ. but
continued to meet all demands, receiv-
ing che cks as late as 5, at which hour
over 5000, 900 had been paid out.
Boston, Sept. 20.-The financial
alarm in New York is the principal sub
ject of discussion. but SO far does not
interfere with business.
MONTREAL, Sept. 2O.-Only effect here
of panic in New York has been to make
bankers more cautious and less willing
to let out their funds, which are ample
for all legitimate demands. Discount
rates for good bills varies from to s
per cent, according to the standing of
the names.
TORONTO, Sept. 20.-H. J. More &
Co., bankers and brokers in this city,
have suspended. owing to the failure of
Jay Cooke & Co. and other prominent
houses in New York. Another story in
connection with the suspension of the
Union Trust Co. is that the excitement
yesterday so unnerved the Secretary
that instead of calling in $4,000 900 he
made mistake and only called for
100000, thus leaving the Company
without funds, causing its suspension
Merrill, Secretary of the National Trust
Co., says that the Company is perfectly
sound and that no depositors would lose
a cent.
New YORK, Sept. 22.-The official
statement is made this morning that the
Assistant Treasurer will continue to pur-
,hase $40 bonds in accordance with his
notice of Saturday, paying for them in
currency at average prices Of sales on
that day. Secretary Richardson said
last night that he did not see that he
had power to do any more than buy
bonds. All 5-2Os offered will be bought
without delay or red-tape.
The following notice is posted on the
doors of the Union Trust co.." This
institution is in the hands of receiver.
A statement of its affairs is being pre-
pared and will soon be made public.
Depositors are cautioned against sacri
fcing their accounts"
At this hour, 10 o'clock, the bank is
not opened and there is no probability
that it will be. A better feeling prevails
this morning, but there is no telling
what an hour may bring forth.
10 10 4. M--Following notice has
been issued" York Stock Ex-
chan ge will remain closed to-day, and
meeting of the Governing Committee
will be held tomorrow morning at half
past nine O'Clock" (Sigued)
II. G. CHAPMAN, President.
Gold Exchange has been closed, the
as the Stock Exchange. One
twelfth has been established as the ba-
sis of settlement. The rate of interest
p - ror