The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-09-23


| Bank.
| The Brooklyn bank presidents to-day re-
solved to sell 81 900 600 United States secure
ties in case OF emergency. The majority.
however, are of the opinion that there would
be no run upon them.
EVENING REPORTS.
The Eccning Post says +" The day closed
with M established improvement in the gen
cral feeling. One day more with the Stock
Exchange closed will, it is thought, put
everybody in such condition, so far as the
exercise of reason Is concerned. that it will
be prudent Tor the brokers to again begin
business"
| This afternoon money was lent on the
street as high rs threc-quarfer per cent, that
rate having been paid by distressed brokers.
President Vail, of the Bank of Commerce,
said this AFTERNOON that confidence is very
greatly improved, and that the action Of the
Government in buying tivc-twentics had
been highly beneficial in looscninS green
bucks.
| MORE SCARED THAN HURT.
New YORK. September 22-The Express
says: AFTER all, but one bank has suspend
cd and two trust companies. The officers OF
the savings banks both here and Washing
ton. as it turns out. were much more scared
| than hurt. and indeed half tue panic has
| been scare
The total amount Of bonds bought at the
| Sub-rrcaSurv is three and third millions.
| 1t is understood that the Loan Committee
| Of the clearinghouse have issued $4,000, 900
| III loan certificates. and that the banks only
| required half that amount in to-day's buSl-
! ness.
| The talk on the street to-day is decidedly
| more cheerful. Every one seems to sustain
the action OF the President and Secretary of
| the Treasury yesterday. II is generally DC
iicvcd that Ind the President yielded to the
cIamor that hcSct him he would have made
Il grave mistake. and the panic would haze
| been na:iona!iZcd instead of being tOlcen-
trdtcd within Earrow limits.
| SUNDAYS WORK.
THE PRESIDENT AND SECRETARY RICH
| AKpSuN CONSULT WITH THE BANKERS
| TnEEANKERS PROPOSE THAT TIE GOV
! EENMENT SHALL PLACE TIE ENTIRE
| RESERVE IN TIE BANKs-TIIE PEES!-
| DENT AND SECRETARY RICHARDSON DE-
| CIINE-rFFOEr>, 70 MAKE THEM RECON
| SiDEE.
New YORK, September 21.-prc>idcnt
| Grant and Secretary Richardson were in c"n
|
Sultation with Vanderbilt and other leading
capitalists, bankers, ana merchants III Tue
| fura Avenue llotcl to-day.
Tie conference WAS in relation 20 the best
| means of overcoming tn" difficulties result
iny from Tie financial disasters in Wall
! street. and absorbed public interest to almost
IN unparalleled decree. The fac. that Pre-
,idcnt Grant, Secretary Richardson, and
other li-h officials OF the Government lad
come here to Deliberate on me best means OF
preventing 'url'icr n'l'''ct'' u'>>'''H l" ,;'c
mercantile community, and consequently me
country at lir%t, was Gchrra!if known th'S
morning. me consequence WAS ''l't ho'
| only iradin% BANKERS brokers. 'hu ti''-
| cr'hts were ~ ''"'"',lcc Il, 'nr no.''; "''
| ne general PUNE IPtheo 'n!'nei -. , un,t
| 0rcoS ana Listened 20 tie G'o"Vs " " ar
street men Sa'irren mere "nu '.'eie III h"o'e
| discussing The Situation.
PROPOSITION FOR RELIEF.
prosidcut Grant Secretary Richardson.
Son,t,r Morton and General Bascock were
rn,Iy h,ioy, noon TO hear the view AMI sue.
.s;ious Of prominent merchants and imam
r;rr. 4 l;rnc number of these had pre-
y,uSIv hcld conference in one of the par
,ors TN, hotel. and reduced their ula,IS 10
t.,ri,,ln sh,up Among those present at
this conference of Wall street and mercantile
;nt,.rc.ts we've Commodore Vanderbilt.
| III rv Clrws. the >clirlnan Brothers. George
II Grd,ka Isaac II. Bailey. William II.
| prton. president of :hc Western Union Tcle-
e,lph Company: Prospect Z. Sharp, James
| II. Burke. William l.. scot, of the Erie pa
Bank Robert LrDEoX Kennedy. Horace Is.
! Gaulir. General l.. ). Sanford, Of Adams
Express Company; Mr.. Vail, of the Bank of
Commerce senator NtS', OF LOUISIANA ana
John lioe!' president o' INT AoaI'' In
press COMPANY. ,,,,,, ,o,,o
lac coulln'''ce hiS' 'laur ?',,''la. p,1i;o
sll'on that te present lllaiis''' "'.n.u ,'I
Should be rci'e'eu y. u''" ''S V" Wv, , "-.
tender reserve. Inc cuiil'i'i''ee nau not
agreed II ms tune IL 10 ''l' "i''1In' VI ~.
| I'>c,'c M"''' w; ".''' i'+ - hn .,,t.,;,,,.L
~ p p"..I Gt,nt and secretary Richardson
| so,,, rnr m,nv members of Tie committee
md hoard their views On the SUI let. After
m horr srcnt in this way, and after listening
| IN rho rc.,,Iur ot the written views Of seyc-
,.l RECRUITMENT members of the committee,
| rr.'id.nl Grant and Secretary Richardson
;,,,,,,,.I rho committee that uc,hing could
80, ,,,;I :, rrn,isn nronnsiri,n had been
~ m,,ni,,ed rnr minority of the committee
,''n,,'.'d yeri,,,iv ihat the Government
should. If necessary. place the whole legal
reserve CT ioItv-tour millions in the New
| Yoll; c,ty banks.
Secretary Richardson oppo ed this suS@rS-
lion in the strongest terms, AMI slid that he
,,.s rt,nrI,. and iuilpviILy opplSed to issuing
,' wa" ';,io~,,Ln nnrtion Of tbr LEGAL re-
'ar,,. far thc u.o of The city banks, To Use
Sncrr,,rv Richardson's own words, quo:ed
| nm th. .,uti,nri;v or one of the committee,