The Rock Island daily Argus. [volume] (Rock Island, Ill.) 1872-1873, 1873-09-19
Great Excitement among
the Stock Gamblers and
Railroad Swindlers.
Abatement of the Yellow
Fever.
Illinois Crop Reports.

closed shortly after noon to-day, and notice |
posted that in consequence of the suspen.
sion of Jay Cooke Il Co, in New York and /
Philadelphia. the doors would remain /
closed for the present There is much ex-
citement and large crowd is congregated |
in front of the banking house.
The First National Bank also suspended, |
occupies the same building.
Secretary Richardson and Comptroller
Knox were in consultation this afternoon
in reference to the suspensions here, and
a receiver will probably be appointed to
take charge of the First National Bank.
The Secretary of the Treasury says the
government does not lose by the suspen-
sion, the deposits of government officers
in the First National being fully secured
by deposits of that institution in the Ma
tional Treasury As to the Syndicate op-
erations the balance is in favor of the gov
ernment, they being overpaid by the last
settlement Late this afternoon there was
something of run on the Washington
City Savings Bank. All demands so far
have been promptly met
Jay Cooke 4 Co, make the following
statement:
The immediate cause of the suspension
of Jay Cooke & Co, was the large draw
ing upon them by their Philadelphia house
and their own depositors during the last
fortnight Both houses have suffered a
large drain upon their deposites in conse-
quence of the uneasy feeling which has re
Gently prevailed and which has effected
more or less all the houses closely ldenti-
fed with the new railroad enterprise. The
Philadelphia house had recently been
weakened by large cash advances to the
Northern Pacific railroad Company of
which they are the financial agents,
| The business OF Jay Cooke, Mccullough
& Co, London is entirely disencumbered,
That house is perfectly solvent, so that IT
will meet all Of its outstanding drafts and
| letters of credit without inconvenience to
/ travellers, and have large cash surplus to
apply to the firm of Jay Cooke i Co., and
| its members have large cash amount Of
real and personal property, upon which,
however, they cannot Immediately realize.
They are confident that depositors will be
paid in full.
Richard Schell and Robinson & Suydam
! have suspended.
A philadnlphia dispatch says that f,
W. Clark Il Co, have suspended.
/ CHICAGO, Sept 1S.-Rumors of the
failure of Thos. A Scott reach us through
the Gold and Stock Telegraph Company.
PHILADELPHIA, Sept. lS.-The firm of
Jay Cooke Il Co has suspended. A crowd
is now collected around their place of bus
iness.
The following card has been pasted on
the office door of Jay Cooke Il Co, in this
city; We regret TO be obliged to an
nounce that, owing to unexpected demands
on our office, we have been obliged to sus-
pend payment In few days We will be
able to present statement of our affairs
, to creditors, until which time we must ask
for their patient consideration. We be
lieve our assets to be largely in excess oi
our liabilities.
(Signed) JAY Cooke.
| Mr.. Cooke says Il believe this house
E will speedily be relieved from embarrass
ment, and to this end, if needs be, every
dollar of the means possessed by the firm
will be applied. No one who has dolla
r on deposit here will lose it. Every liabilit,
will be faithfully discharged. The tempo
rary suspension of the American hous,
of Jay Cooke, McCulloch Il Co, iron
whom the following cable telegram was re
ceived this afternoon, creating the hyeli
est satisfaction when made known to tn
public:
LONDON, Sept ls.-The London firm o
MIR. Cooke responds to his suspension b
= stating that all drafts and letters of credi
on them issued by Jay Cooke & Co., wi
. be duly honored
9 As in connection with the suspension c
" Jay Cooke g. Co, many holders of Paeif
. roilroad bonds throughout the country wi
,N1
\ ments, inquiry has been made and deve
i oped the fact that the Northern Pacific
/ largely indebted to its fiscal agents an
>, therefore can loose nothing pecuniarily
Ii their suspension The railroad compan
will have to make other financial arrang
ments before pushing forward its lines
has its completed road and governmel
land grant both nfortgaged to secure i
, bonds, and the security is one sided al
u amply sufficient There is no truth wha
ever in the rumor that the National Insu
. ance Company is affected by the suspense,
,,e of Jay Cooke Il Go.
"a New ORLEANS, Sept. 1S.-A Shrev
= port dispatch says no more nurses OF ply
- = ieians than are now on duty there are 7
= quired. The generous contributions r
20 ceived from all parts of the country W
=, :, be sufficient to pay all the expenses i
e CURED.
~ =, Natchez, Miss, has been quarantin,
~ - against the entire on side world.
n LITTLE Rock, Sept. 1S-A letter W.T.
of ten at Shreveport yesterday says the sta
RS lines have commenced running again /
lie tween that place and Monroe The deaf
n are about the same, though there are t,
new cases.
o. JACKSONVILLE, Sept lS.-Reports
* ceivod at the office OF the National Cr
bn Reporter from seventy counties in Ilino
under date ot Sept 10Th, indicate as /
- lows: In seven counties, the present ct
dition is 10 per cent below the average
the same date last year, in two eounti
20 per cent below in thirteen counti
Is per cent below nseven counties, 3O /
cent. below In i've counties, 50 per ce
below ID fifteen counties, 40 per ee
below; in thirteen counties, 50 per ce
below, and in one county 6O per cent bele
rive counties report condition 10 |
Will Will cent above last year. One county repo
l. 20 per cent. above and one county repo
If an average. The average condition tor
seventy counties is Boa per cent. below
A year, All counties in the central {
y northern portion OF the state report fl
at various times, frem the Sth to the L
INST but only IN one county of damag
nature. All county reports, excepting
extreme southern and southwest ri
counties, speak Of the pastures as sever
SLE IN damaged by the drouth, the roots in mi
lop cases being utterly destroyed Lii
scattering rains have fallen in some of
central, western and northern counties