, 1873-10-24
FINANCIAL. |
Another Quiet Day on
the Stock Ex-
change.
Meeting Of Bank Presidents
Of New York,
In Explanation llado Of tho >Presi.
dent's Financial Propo'
sitions.
lie Promised to Draw on the
Lcgal-Tcndcr Reserve
il Necessary.
But Did Not Promise to Buy
| Exchange.
The President Oontradiots the Cur
The President Contradiots the Cur
rent Reports.
The Clearing-llouse Looks upon tho
Whole Matter as a Farce.
C1ews, Habicht s. Co. to Go into
Voluntary Liquidation.
More Encouraging Reports from the
New England Manufacturers.

TIE nArK PRESIDENTS IN CONSTELLATION.
New YonK, Oct. 23.-At tho meeting Of Bank Preai-
dents today, to consider President Grnnts communi-
cation, Mr. Williama made explanatory speech.
from which It appears That ho presso'' to write
letter to President Grant, to the effect that there
great suffering In the manufacturing districts Of New
England for want Of lcgaltenacrs and also that as-
sIst ance was wanted from tho Government. This
pressure chiefly from parties Interested In mills IN
Rhode Island In aome Of which tho operatives arc
working on half time and others which entirely
closcd. Mr.. Anthony carried this letter Of Mr. WILL
iams to Washington and had
AN INTERVIEW WITH TIE PRESIDENT,
and received ASSURANCE that tho Government would
issue from s. 900 to 81 600 per weok from tho
81, 600 reserves II necessary. The Prosident waa
urged to buy exchange, but refused.
Thia whole nnair has been niagni1cd beyond proper
bounds, and tho Clearing House to-day views It as
grand farce.
The following resolutions wore then adopted:
fesotred, That the netssgo Of tho President Of tho
f"ly ea sd t' sra,efay lily acknowledged: ana cordially
rccprocats hE kind wishes and W1l act in the Hpaf1e
Htsoirta Tnat tron, aud aftor tho 1st Of November
next The equalization If legal tenders BY tho banks OF
this nasoc!aton bc discontinued. "
A proposition to National bank currency notos
In tho Clearing- -Hot'ao hettiements was rejected.
ro.n+ Grant o,lt1artvra tbs posve dea, Of
having written to Mr.. W1latns or any one else, let
ter containing such sAtencnt rs haE hcon ads pub
WAsu1so7ox, oct. 23.-Tho President received to-
day large number Of VISITORS He was askcd about
Yor G R s laff ssa hs liz
repeated his former reark, namely that. IN addition
to what had already been dono by tln Government,
| exchange but exchange could not now be bought as
tho Government had no use for H. having ars;nuy
pcpartn.ents to answer present pnrposcs There ia
no Intention. 10 further remarked, to draw on the
of hs Tho @onoy vii b. used
for no other purlo.e; .n,,- no,,,
In re1ard to tic 80 $50 600 Lake Shore bonn teong-
Ing to tho Union rruat Company, charged by the
morning papers having been transferred iron, TINT
Uomnany to G. u. Grnne h Co. without proper ac-
counting he latter r1u 10y the Laks Bhorc bonds in
possession Of tho firm transferred to them by tho
T. % n s;1F IN
Company. T. B. Wesley, Receiver Of the Union Trust
ma" S nae eo IN
Treasurer Of tho Lake Shore saroad and the Union
Tro. nAa the .esep SSa ns
shilling, and Tie latter institution ha raised 70 G1es
ton r6a.ever n regard to IT, liability TT soy .1,N ~
Ggnnell Co. was stoppod few days ago by tho ofae
Of tho Lake Shore Company, but he W.a not aware O.
resaqd to oRse concerning tho
Company, Mr. wealey said that he dsd not 5nGW wnor @
Carleton w. ~ anu shah III oan to the Lke shore a
Rss%'''' Eesa. % '''N&' 'A' ''N4 ~ .~o 1~'
NEW YonK Oct. 13-Tho Times saya: Tho ques
Naions LINK notes sboat 70 soyeltself Mott
to tho ccrtihcation Of checks, and the diaerSnG
ngniust tho checks OF other banks that, from thel
| poeton. decline to pny out largo sumo
currency Is ouly 1s@A per cent IN "a
| change for greenbacks or National BANK nose
8o1ne nrst-cass bants arc not only helping the
nerhbore to greenbackh nnd sending currency to the
| country correspondents. but they arc paying thc
tlobta or balances ut the clearinghouse III RreenoaGk
in placc Of relief certificates. The practical condo
OF the question ia IN favor Of voluntary una Bo9ef
resumption Of currency payments In very teW das
no bunk that hopes to retain lta old accounts ai
sntus or expects to acquire new accounts Of dcalF
bio character in city country, will deem pFlluei
to hayo 1t known That 1t ia boh'ud its neRhbafs ana
TO tic scaling and pooling process the public VIII ~
al interest in IT, II majority Of the rrudont!y-ma1
nucd banks ara content to tolerate ita tniquttca ali
r1s,nnpu In greenbacka at the counters Of the 1an
= | Ia mado general or UNIVERSAL"
III Edward Knight, Jr, who representa- Hight {
r in ths Stock Exchange WIS expelled to-day LOT !
=. assigned reason that tho senior member Of the III
Ind oyerdrawn hIa account With the Bank Of tue Go!
NJ mouweallh $4uo ooo and only returned psr causi
d, the closing Of tie bank.
10. oLEws, HAnICMT h 90.
o. At meeting Of The credors Of that house, ne1
~ London to-day, 1t wAs voted unanimously to al!
g. Cows, Habcht Il Co. to 1!1uidRte their own an u
" aud to take no action under tho bankruptcy law II
- reault wAs cabled hero this afternoon.