The Rock Island daily Argus. [volume] (Rock Island, Ill.) 1872-1873, 1873-10-02
TELEGRAF 4 C.
The Inside of one National
Bank.
tt}lE-.-.
It is Rotten all Through.
It's Managers a set of Swim
dIers.
Everybody Cheated.
A Better Feeling in Chicago
More Failures in the East.
Manufacturers Stopping
Work.
The Independent Party in
California.
Dessensions in Sangamou
County.
Car paTrnor IN Small &ny
Dessensions in SangamOn
County.
Gov. Palmer to Speak for
the Independent Party
at Jerseyvi1le.
Other Items of Interest.

DUBUQUE, Iowa, Oct, IAN examina-
ton into the affairs OF the Merchants Ma
tional Bank discloses the most barefaced /
dishonesty and fraud ever known in the
history of banks, and that, too, by men /
who have enjoyed the unlimited confidence /
of the community fol years. The stock |
holders have decided to 60 into voluntary /
bankruptcy, aud stand assessments to /
make depositors good, and are now rush |
ing around to find property owned by the
defaulting officers to make good the claim
of depositors and save themselves. The
stock is swamped A savings bank, con
nected with the National Bank. has been
drained to keep up appearances. False
entries on the books of dues from Chicago
/ and New FORK banks were made for assets
| to deceive the Directors The public is en-
ragged. The bank enjoyed the confidence
of the Catholics, and all deposited there, in-
Guiding the Bishop of the diocese, who has
church money in the vaults. All the poor
people, laborers, servant girls and hard
/ working men have lost the savings and
earnings of life time, unless the stock
! holders shove up enough to make good dol
/ lar for dollar The Directors promise a
statement to-day, when the exact assets
and liabilities will be made known.
| CHICAGO, Oct. 1.-The feeling of de-
preston caused yesterday by the final sus-
pension of the { Mon National Bank seems
to be rapidly giving way, and the prospect
this morning is much more cheerful than
for number of days past The grain
markets are firmer, and prices are advanc-
ing 1t is stated that the Third National
Bank will probably resume within week,
and there appears now no danger but that
the non-suspended banks will be able to
come through all right. There may be
some little difficulty in the settlement of
grain contracts to-day, but it is not likely
to be serious, as there are not believed to
be many trades outstanding In fact the
situation is so much improved that some
! Of the banks have already begun to fur
, nish accommodation to grain dealers III a
lawful and judicious way, and as the in
, hux of currency does not diminish, some
three millions having been received yester-
day, these accommodations will doubtless
t soon be extended by all the banks, and
business will resume its usual channels.
t CHICAGO, Oct. There is much bet
G Ter feeling in Chicago to-day, and, with
p active demand for grain, prices have gen
: orally advanced The board to-day re-
scinded their action of few days since,
e suspending the rule in regard to option
{ trades, and there was considerable trading
i for the future.
) New YORK, Oct. 1.-The Grant locomo.
{ tive works at Paterson, on account OF the
Il scarcity OF greenbacks, has discharged al
additional LIS men.
c The work Oh the Delaware Lackawan;
: 4 Western Railroad tunnel through Ber
gen hill, suspended, throwing over five
e hundred men out OF employment
IL The Cummings Car Company of Jersey
+ City has been obliged to suspend although
its assets will more than cover liabilities
I The trouble is, large amounts due from
X Railroad companies eonnot be collected.
IN Winthrop & Chick, bankers, Wall street
suspended this morning. Heavy call
from Western depositors was the cause
t, They have had no dealing with the Stoc
Exchange.
- Palon & Co, Broadway, an old house
suspended to-day, but anticipate a speed
- resumption.
IL WASHINGTON, Oct. /. The second Na
he tional Bank has resumed currency pay
mentS.
The public debt statement shows a dt
crease for the month of September of 81
- 90l ,467, and the total debt, less cash i
the Treasury, is s., 1873, 1913, ,S98. In tn
Treasury, $94, 4,T85,7S9.
lal PHILADELPHIA, Oct 1.--At the reque,
"a, of the debtors and by consent of til
ck petitioners the order requiring Jay Cooke
of Co, to show why they should not be az
Indicated bankrupts, has been continue
for week.
MILWAUKEE, Oct 1.-The Chamber
: Commerce adjourned till Saturday noon
enable buyers of wheat to have currency
j pay for it. Market frmer but unsettle
q BALTIMORE Oct. 1.-Thos. Kemp& CO
y grocers, suspended day. Liabilities $8C
e 900. Assets $4,000.
- TOLEDO. Oct. I.-At the annual meetir
of the Toledo, Wabash Western Ra
road Company, held here to- day, there W
full representation Of stock, and the fl
!. lowing Board of Directors was elected
John +, Tracy, of Illinois Sidney D
ID. lon; Milton Courtright, of Ohio; John
Easement, Ohio; z. L. Cable, lllinoi
John Ross, j. ID. Cox, Ohio; A. j. Cra
ford, indiana; A. ScheI; Kenyon Go.
Wm. L. Scott George Cecil; Z. c. Be
edlct; John K. Cecil; s. w. Phelps, |
diana
W hlle the election was being held, aft
the meeting was organized and votes h
/, been cast, an er-parte preliminary iniur
Ill ton, issued by Judge Paine, of Cleyelar
was served, restraining certain stock -ho
ers from voting. After the election /
new Board organized, and elected ex-S,
retary of the Interior J. D. Cox, Preside
ST. Louis, Oct. III. A. Stevens,cash
. of the ST Louis MutualF Life Tnsurar