The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-26

to suspend currency payments on an,
large dcmhnds made upon them cithc
from country banks or over their counters
~ cISCiNSAri
CINCINNATI. o., sept. %.
The clearing house association here have
adopted that of lhc New York association
for mutual protection. Each member oil
the clearing house association is required tc
deposit such sum in approved securities as
Will at all times cover the amount of his
clearing. Government bonds received at
their par value. railroad and other stock.
and bonds and bills receivable are received
NJ scycnty-iiyc per cent. of the valuc fixed
on them Ivy the committee, which can only
be used in settlement of balances between
the bank. and are not negotiable.
TRANSPORTATION rEorBLEs.
81. I.oris, sept. p.
Shipments Of Hours to the east having
/ virtually suspended by the recent advance
in railroad frcights the board of directors
have pciitoncd the railroad companies to
restore the old rate during the present
financial troubles.
ACTION OF BANKEus
\ slight run having been made on the
banks of this city. it was decided at
meeting of bankers, last night, to suspend
the payment of checks or drafts in the cast
subsidies. aud the former condition of the
markets DO restored.
HENRY crHws * 60.
NEW York, Sept. %.
Henry Clews Il Go. state that the liabii-
ties which their London house describe as
incurred for the account Of the New York
house are mainly acccptanccs under COM
mcnced credits for accounts of various
merchants III this city and elsewhere to
whom the drafts will he returned, and who
will need them. being prepared 50 TO do
by having the goods in their possession
against which the acccptanccs were given.
The apparent liabilities, therefore, of the
London house will be required to the ex.
tent to which acccptanccs under these
credits are provided for by the parties in
whose account they were issued
nowEs AND NAcEY.
Howcs ~ Macy are out ina circular
proposing TO resume business at once by
receiving special deposits ON trial and pay
ing off their present Indebtedness as fast as
tbn,. ,.al;,n -,
TIE CONSULTATION OF OFFICIALS.
\ Washington dispatch says that the at
torncy general had conference with Sec
rotary Richardson relative To the financial
crisis. The opinion of the attorney general
was solicited as to the power of the sccrc
tary to redeem the five per cents due Jan
1st 1874. Without giving an opinion the
conference ended.
The act of March, 1869. known as an
act to strengthen public credit, says ''But
none of said interest bearing obligations
not already, but shall be redeemed or paid
before maturity, unless at such time as
rates shall be convertible into coin ut the
option Of the holders, and unless at such
time bonds bearing lower rate of interest
than bonds to be redeemed. can be sold at
par in gold" From this it would appear
that the secretary cannot now redeem
bonds due in 1874.
TiIR SITUATION ~ WASHINGTON.
WAsIIINGToN, Sept. %.
- g., . t,,, l.:
concerned is unchanged since the close of
business yesterday. when purchases Of
bonds were stopped. The arrival of the
President tonight may possibly result in
additional instruction, but this is present
merely conicctural. There will be a Cabi-
net meeting tomorrow and as il will have
weighty financial matters for general con-
sidcration by the heads of the government
departments intense interest is felt in the
result No official here has any idea that
there will I've called session of Congress
with view to relieve financial difficulties
Al NEW HAVEN. CoaS.
The banks continue to pay small sums ON
demand. hut for large amounts they will
require some DAYS notice. Thus far there
has been no run upon the savings banks.
national banks. state banks. trust COM
panics or private banks in this city, hut
the course of the savings banks has been
followed from prudential motives TO pro-
tect borrowers and depositors. Every saw
ings bank in the city has a handsome sur
plus above its liabilities, and all are known
to be in excellent condition. The National
and State banks of New Haven were never
in better condition, and dcpostor> feel no
uncasinrss.