, 1873-09-30

~, ~ S~1sA"t0 ~
,.'so ~ '""A' " iaeu'sase tue movement OF pro-
a"so. a,,,, n. ......,.....,...
A"A 'A'o''o''oNs oF. THE sfooR EXCHANGE GOV
,.>. Ehs1ao ooMM1TrEE'
upon as IN thointercst OF 1uict and conservative
dealings. Tho moht important one poatponoB
tho rulo under which doinuuont bankers Gun
In anil nit praof,co11v n rfvoa throa dova,
ornco n h.,,,ors ,,,,o hn,a ~ sot sottlo, md
b'"e" w p'nao'6 WIZ INV" not sot oett!o"' "i"
posspones for that longth OF timo tho at-
noiucement Of failures which aro suro to bo
proclaimed as aoon AZ tho timo Of sottlomont is
,ss,..s ~. .... go ..st.,,, y,~orr.,o~ ~
4ooh.u upoh ny ,nany % .u4sa4n .v.o. a'. ~. ~.
another panic; nut Ito most nervous hopo tho
bost from tho suspension OF rulos for three daya.
It ID highly probable that
,,u ,a,,o :, sr,.,,,otor. a,'o,,,,, ,,1o,o a. .,
WI 1oho"' - oF,.""''tp ri oaou'o plo'o Nv "'1
"i.a or ul.feasonaulo. ny feopenlnB was 'ne
subject OF general discussion among bankorH,
probable cfroct on tho commercial and ananoiol
;rtoroats ~ H., .o,,,,t.., ,a ~ .,,s,, .sa..s~
.,. a y. VIZ ooeuy " suol, '"'poftauco
that tue Siews or prominent bankorn thhroon
usE.
oropnn opnvpr m
I ."., ,ut,a =, w.
s'aseo 'nas thoy aoals 30 ttio IN STOCKS that they
% haa haraly formed yery sound opinion, but they
would produce no troub1e nroyided II vaa trno.
40 roror+o1 ,,,n. o,,oratnrs 1,sd .dt,.ta1 .,,o,.
70 4opoA'oo' su"' oto1"'.' A"u o "u1"esou saon
matters among themselves. Tho Governing
Committee bavo aoted with ouch
good sense throughout, that doubtloss thoy had
considered thiB point, aud have assured thom-
selves that everything has boon done that can
bo to mako the opening successful. 4 tow enaall
operators may be sold ont under the ruloB, but
nqnnf In In mn
hendlng trouble.
EDWARD nA1au7,
Of Wall street, says tho roopening Of tho Ex-
should should bo suspended Tor a wook Or iifteon days.
Prices would then regulate themselves on tho
basis Of approaching valuos, and confidence would
bo restored. Many millions Of dollars arc ready
to como on the market IS aoon as prices nro
their deposits during tho panic, put them in tin
boxes, and stored them away with the safe De-
poHlt Company. He know personally that sc, ,O00,-
| 600 had boon nut away Ii thfa manner, which
| would bo put on tile market again as BOON aB Tho
Stock Exchange was opened and confidence ro-
| storod Whilo tho of1oct would bo highly bene-
| 1cial IL tho rules wore suspended, 1t would, on
the othor hand, be extremely disastrous II they
has Just subsidized would ensue, tho
| spirit Of speculation would again drive
prices out OF their normal condition, and, under
| tho rr,leB, stock might be sold out at such in-
| gard to netual values. The old troublo would
| thon return, confidence would be again destroy
| ed, and tho result can bo easily foresoen.
J. ". BEl1oa1AN,
| be very galutary. II tho rules arc suspended
| for three days boarded money will como out,
| for 1t IL all in the country. Notwithstanding ta
stringenoy. tho currency is not destroyed There
may DO somewhat leBB Of 1t In tho city, because
/ q great ioal Of il has been sontt to tho
country, but a largo amount of it is
hore, and il only unavailable because owners arc
timid and lack confidence In tho stability OF
values. Let tho Stock Exchange reopen, aud
| opportunity given to operators, by the Huapen-
sion Of tho rules, to adjust their matters among
| themselves, and prices would DO decided upon
| according to values, confidence would bo re-
| stored, and money would flood the market.
is aiready rising, and sells 1t botter prices to-
| day than 1t did Saturday. Tho largo crops
would then began to move, aud that ia really
| the great necessity OF tho momont
| OPERATORS TA1K1Na on THE SUBJECT
| on The Btroot oxpresad similar yiowB. Thoy
said nearly all operators hRd arranged their
| mntters among themBolVeB, and 1t Was Known
s.a; o,e nig noazo yrs psopnrtne " eqaaso ~ ~,
hoaia ~ mnt,,al rnncnaeinn' Thev sa;d Il waa
generally understood that the rules would be
suspended whou tho Exchange roopened, and
tue disposition seemed to ne not 70 pfesa opera
~ eta.a ao;d n,,a ~ stsa ~ n t
dav wlita tia n % atoc1, # oannot reman so
far below its real value when the exchange opens."
Doubtful stocks will, OF course. provoke specu.
atlon because tneir hasufe haa my peen cnanneo'
y the panie' anu as iong as tnelo ~ otnck
tho aanerai ofrect ,r1l ba moat cf,oering Toretcn
oxc6ango viii bo loosoned. the embargo on tie
ototo ot.ttoa aAs0'"N' "A1 '0o A'AoN' "
THE PROPOSITION OF THE PRODUCE EXCHANGE
tn the Clearing HOtHA Association SgAH. tl0t the