Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1873-09-18
EASTERN DISPATCHES.
ESPECIAL TO III eoLD mtL DAILY x.ws.l
nom EsTIo INTELLIGENCE

CHICAGO, Sept. 1s.-Private des.
matches from New York confirm the
report of the failure Of Jay Cooke &
Co., but don't state the extent or par
ticulars Of the failure.
NEW York, Sept. 1s:-Jay Cooke
& Co. announce that their suspension
is In consequence Of large advances
made to sustain their Philadelphia
house, and a heavy drain upon their
own deposits.
PmI.ApEIrmA, Sept. ls.-The firm
of Jay Cooke & Co. has suspended. A
great crowd is now collected around
their place Of business.
New YoRK. Sept. 1S.-There II great
excitement on the street In conse.
ouence Of the announcement OF the
failure OF Jay Cooke s. Co. The ques-
tion Is generally asked. Who next?'
Stocks took a tumble generally, caused
as much by apprehensions Of the fu-
ture rs by the existing condition Of az
fairs. Prominent Wall street men
attribute the suspension Of the firm
not so much to the, effort to sustain Its
Philadelphia house as to operations In
Northern Pacific stocks, which 1t has
sought to carry beyond their strength.
It Is expected that the Life Insurance
Company with which Jay Cooke & Co.
are connected may have to 90 under.
1t Is also said Jay Cooke has lost large
sums Ia the recent gold movement,
and another rumor Is that tlghtness In
the money market and inability to
dispose Of his paper hurried the shs-
pension. The firm say they are una.
BILE to make any further statement,
save that they expect to resume bust
ness In a short time.
PHILADELPHIA, Sept. 1s.-The fol-
lowing card has been posted on the
Office door Of Jay Cooke & Co., In this
city:
ave regret to be obliged to an
nounce that, owing to unexpected de.
mands on US, our office has been obliged
to suspend payment. In a few days
we will be able to present a statement
of our affairs to our creditors, until
which time we must ask for their pa-
tient consideration. We believe our
assets are largely In excess Of our lia-
bilIties. JAY Cooke & Co."
Another Bank Suspends Payment.
WASHINGTON, Sept. ls.-The First
National Bank has suspended.
Excitement I'm the New York stock
Exchange.
New YORK, September lS.-The ex-
element Is Intense Mt the Stock Ex-
change. Vanderbilt stands by his
Central and Lake Shore and Pacific
Mail are cared for, but Western Union
dropped from SO to 7SH. Money Is
quiet at Z. No failures other than Jay
Cooke s. Co. are announced. 1t Is
said that Jay Cooke, MuCulloch & Co.
OF London, are solvent, with al large
surplus above all liabilities.
Bids for G~oId-Spccie shipment.
Eleven bids for gold to-day aggre-
gated 81, 3l7, 800, at from 10 to llR.
No bids were accepted. The specie
shipment amounted to $l05, 900 in sill
yer bars.
Appointed Assignee.
Abram Hewett, one OF the trustees
Of the New York, Oswego ard Mid
land Railroad Company, has been APP
pointed assignee OF the concern, giving
security In 500, 900.
Surprised.
PHILADELPHIA, September lS.-Jay
Cooke & Co. promise a statement this
afternoon. They say the suspension
was as great n surprise to themselves
as to the public.
stocks D~emoraIIzed.
New York, Sept. rlS.-There Is a
general breaking Of stocks of from one
to ten per cent. under a rush to sell,
and a great excitement continues.
Western Union fell from sou to 7SR !;
New York Central from 001a to S7H /;
Wabash from 58H to 6l24; North
western from 50 to 491a; Northwest.
ern Preferred from &c to 741a Rock
Island from 103 to 90; Pacific Mail
from Az to ~.
The Suspensions In Washington.
WASHINGTON, Sept. lS.-The bank
Ing house OF Jay Cooke 6 Co. In this
city closed shortly after Don today.
The notice said that In consequence Of
the suspension Of Jay Cooke b Co., IN
New York and Philadelphia, the doors
would remain closed for the present.
There Is much excitement. The First
National Bank, which has suspended,
occupies the same building.
Cholera In France,
NEW York, September lS.-Mail
sdvices from Paris Of the 9th, say that
official documents communicated yes.
terday to the Paris Academy Of Medi-
cine. confirm the report that the cliol-
err prevails I'm France.
stiII other Bank Failures,
Richard Schell, and Robinson s Suy.
dam have suspended. A Philadelphia
dispatch says E. W. Clark & Co., have
suspended.
NEW YonK. Sept. 1S.-Jay Cooke &
Co. make the following statement :
The immediate cause OF the suspension
of Jay Cooke s. Co. was large draw
ings on them by their Philadelphia
house and their own depositors. Dur
ing the last fortnight both houses have
suffered a large drain OH their depos-
its In consequence OF the uneasy feel
ing which has recently prevailed and
which has affected more or less all
houses closely Identified with new rail-
road enterprises.s The Philadelphia
house had previoyaly been weakened
by large advances to the Northern Pa
ciic Railroad Company, Of which
they arc the financial agents. The bn-
siiess OF Jay Cooke, McCulloch
b Co., In London, Is entirely
aforementioned. That house q
perfectly solvent, so that II will meet