The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-27
Resumption OF Specie Payment.

Resumption Of Specie Payment
New YoRe, sept. 2G
SETTLING DOwN.
Affairs are quiet. Twenty-four hours
notice is to be given when the stock en-
change opens.
| Gold 1115.
DISCOUNTS.
The banks yesterday discounted notes
for the first time since the excitement.
| A Just DETERMINATION.
A number of stockholders of the State
bank of New Brunswick, the suspension of
which was occasioned By the defalcation
of the caehier, have pledged themselves to
pay depostors in full Almost up to the
last moment, dcpositors implicitly trusted
the bank, and its trouble has thrown the
town into fcrment
STOCK OPERATIONS
Noon. The committee of seven appoint
ed by the governing committee for the pur-
pose of preparing plan for clearing
stocks, submitted a report to-day to the
governing committee. No action was taken
IN connection with the report.
RANK susPRNsioNs
4 special dispatch from Chicago says the
Second and Manufacturers National bank
Is closed. A Charleston special says the
Peoples bank and the South Carolina Loan
and Trust company are rcpo ID -us-
pended.
THH FINANCIAL SITUATION.
Every movement thus far for relief by
the clearing house association stock hoard
of government, decreases business, and the
| consequence has been there is no fuel for
the flame to feed upon The uncasincss
has now extended to commercial circles,
especially the shippers of grain and other
produce, who are compelled to accept bills
of exchange; these they cannot exchange
that the immense volume of breadstuifs
pouring into this city from the west and
south will be detained here for want of an
available market, and good prices await
them. This phase of the financial rcyoln-
ton il Just beginning to be felt. Unless
relief is soon obtained, orders for con-
signmcnts from the west and south will
soon cease altogether The clearing
house association held no meeting yesterday.
Thus far S11,000,000 of loan certificates
have been issued. In reply to a question
concerning rumor of the return by gov
eminent of bonds purchased during the
panic for the price paid for them. General
IIillhousc said yesterday he had heard
nothing of the kind Mr.. Grain, of the
firm of Duncan. Sherman Il Co., said the
stoppagc of the purchase of bonds had
resulted in no pressure upon the money
market yet. and might not. He believed
the stoppagc was unwisc. but thought
purchases would be resumed when the
president was advised of the necessity for
continued purchases. The heavy ship
ments of bullion from abroad excite the
very general opinion that they cannot af-
feet affairs here at all. One first received
s132 900 on Wednesday from Hamburg.
shipped ten days before, and have more
on the way, but the shipments generally
were useless as speculation. Officers of
express companies report they are carry
ing from the city more money than they
bring in. A great many bills are sent for
collection against banks and firms, which
give them much trouble. as in many in
stances it was impossible to collect Them
The officers say, however, the drain from
the city is always greater at this season of
the year than at other times, but much
greater now than at any previous time.
At THE FIFTH AVENUE HOTEL.
The crowd at the Fifth Avenue hotel last
night was very small, and loungcrs in the
corridors were quiet and listlcss. Few
heavy operators were present
THE PANIC TO HASTEN RESUMPTION or srE-
Gle PAYMENTS.
\ Washington dispatch says Dr. Lindcr-
man, the director Of the bureau of the
mint, predicts that the effect of this stock
panic will be to hasten the resumption of
specie payments. lie says he Is getting
ready and has issued orders to all minis for
largely increasing the coinage, and that
more bullion will be coined during the next
three months than at any previous time in
the same Period No export Of crude bul.
lion will he made for several months.
Large orders have been tclcgraphcd to Lon
don from New York for the importation
of soverelgns, which, at the present condi-
ton Of sterling exchange, will give large
profit.
Plea of the NEw YORK TIME, FOR ruEruyI
ACTION By TIE GOVERNMENT.
In doublc-lcadod editorial the Time.
says We are no alarmists hut |, is impos-
sible to be blind to what is now going on
We venture to suggest 10 the secretary OF
the treasury the proprloty of once more
considering two of the least Objectionable
measures which have been pressed upon
his attention, the payment Of the 1874
bonds due next January, which will rcleas'
about SS,000,O00 of greenbacks, and tn,
purchase of sterling bills OF exchange t.
the amount of at least S5,000,000. Tn,
latter device would rescue the export trad'
from its present deadlock and set export
free cgain. They are both urged by tn,
most experienced and conservative of on
merchants and bankers.
THE WORK OF THE CLEARING HOUSE.
Mr.. Camp of the clearing house says tina
an equalization of legal tenders at tn
clearing house took place yesterday for tn
G.,a 4. 4