Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-10-01
The Premium on Greenbacks Nominal
The Demand for Lean Certificates
Almost Ceased.
Foreign Exchange Regaias Its Feet,
And the Crops Begin to Move

NEW York, Sept. 30. Henry j. Brooke,
leather merchant, has su uspended, owing to
the present financial troubles. BE hopes
for an extension of time from creditors and
he will resume.
Re.Opening OF the Stock Exchange.
Wall, Broad and New streets in front of
the several entrances to the Stock Ex-
change, were crowded this morning as the
hour of opening approached. When the
doors were thrown open, shortly before 10
O'Clock, members and spectators rushed In,
filing the floor of the Exchange and the
visitors gallerT. The members closed
around the Presidents desk, cheering 70 If
erously, and waving their hats. Promptly
at 10 O'Clock, President Chapman raped
the brokers to order and at once all became
silent. He then spoke to them as follows:
awe have met again after very momen-
tous suspension, for the purpose OF resum-
ing business. Your action in the interim
has met with universal appreciation, and
has been most satisfactory to yourselves.
The business would be carried on under
the rules adopted yesterday by the govern
ing committee, which he read, appointing .
committee to settle the contracts of default
ing parties. All ask now is that you help
each other to bear the burden that has fall
Ian upon us; to so conduct business as to
enable the Exchange to carry on lis work
successfully"
Loud cheering followed the address, and
business was begun. Good feeling appears
to exist, and the opening prices OF stocks
show returning confidence. The following
are the opening quotations for sales:' Gen.
trsl 92, Erie 81, Lake Shore II, Northwest
ern 435 Rock Island 81, Pacific Mail 30,
St. raul 35b, preferred 573, Ohio 29a,
Western Union 685a, Wabash 46, Union Pa
cifc 81, g. C. & l. G. %, Hannibal and st.
10 "a.
II:3O A. N.
Under considerable pressure to sell and
realize on stocks, prices have declined from
those current at the opening, from ! to
per cent. Bankers generally are unwilling
to operate for customers on margins unit
the offers become moe settled.
2P. M.
An impression prevails on the street and
on Change that all the leading houses v III
pul. through, in which event better feeling
will be infused throughout financial circles
Smith & Slower, reported suspended on
LD6 l1tU, aLIIlUuuCc bu0b bnCy VAL Psy 90
demands in foil and resume.
The price of money will depend upon The
Stock Exchange settlements now going on
If these should be carried through success
fully, there are many who look for q com
paratively easy working Of the market.
There was decided improvement in for
eign exchange, which was looked upon as
favorable symptom of returning confidence
Leading bankers advanced their rates Il
1864 for go days sterling, and 1072 for sight
but The actual business was ct q reduction
from these rates.
Are the National Banks irresponsible
TO DepositOrs?
Application was made in the United
| States Circuit Court to-day for an order en-
Joining the Comptroller of Currency an
| Isaac II. Bailey, Receiver Of the Bank o
| the Commonwealth, from proceeding fur
ther in the mater of that bank; also for
citation to show cause why the receiyershi
should not be vacated and his appointmea
| declared null and void on the grounds tbs
the bank never refused to redeem its circu
lsting notes. The citation was granted an
made returnsble 7th Of October.
The Balls and Bears Going into COur
Ex-District Attorney Sullivan has give
his opinion on the ris hts of brokers an
bankers at the Gold Exchange under lis II
cent action in closing its doors. He hold
that the closing of the Exchange involve
an entire abrogation of the ordinary power
of the Exchange over contracts not close
prior to the suspension of business, sn
should the Exchange, without consent Of q
the parties concerned, attempt to enfort
the rules established for ordinary bushes
it would be lisole to an injunction. t
also holds that contracts entered into b
fore the closing of the Exchange by
Board cannot be extended by the action
that Board; and, therefore, the contracts
the New York Exchange must be consi
cred anew SO fsr as any power exists to e
force contracts. 1t is stated that sever
important suits between bulls and bea
were projected consequent upon the sudd'
closing of the Stock Exchange.