New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-09-24

|
ket could react, to enable dealers to negotiate
| their securities at something like what they had
paid for them. The fear most generally expressed
was substantially this: IL the Stock Exchange
| transacted business there would be formal ana
instantaneous demand for the loans now outstand-
ing. The brokers would be compelled TO re-
spond or be officially reported as suspended
If they should respond. the chances were That
the banks and capitalists would refuse to lend money
upon the securities which were most extensively
carried and used as colaterals by the dealers The
result would be q resumption of the panic with even
worse results than had yet befallen Wall-st
Some brokers went far as to recommend that
the Exchange should be closed until January, 1874
The Stock Exchange Committee OF Con
ference were again closeted with the Clear
ing-house Committee of the banks, and
it is understood that the latter Commit
tee recommended that the Exchange should not be
opened until further notice. member OF the Stock
Exchange Committee said that this course was pur-
sued for the that the banks were not Thought
to be sufficiently settled to render it safe to resume
business after the excitement of the last few days
The Committee will meet again this morning. 1t Is
understood that they will appoint subcommittee
to devise basis Of settlement between members
Those members who are disposed TO settle, and
who have the means. making private arrange
of stock have been privately settled. Osborn d
Chaplin Jay Goud's brokers) report that they have
managed, by means of due-bills, pairing off, and
settling on basis to arrange about 1900 shares.
A speculator with an eye TO business, engaged a
room at No. IS Broad-st. and displaying show-card
with the inscription, " Independent Board ROOMS,
invited stock operators and others TO contribute %
each and avail themselves of its advantages while
the Exchange closed. No one, however, has
done 80 as yet but the proprietor expects great
things to-day. AS there is rule of the Stock Tx
change which prohibits transactions of members at
other Exchanges it is not likely that response
BILE dealers will care to go there
A group of several hundred men congregated in
front of Delmonico's and opened market which re-
suited in the sale of considerable stock. 1t is re-
ported that about 1850 shares of Rock Island have
been purchased on the street and privately in lots of
from five to 100 shares and been transferred to in
vestors who purpose to take the stock out of the
street.
STREET QUOTATIONS..
The following the street quotations for stocks
l2m-Centra 49, "a; Erie, SO Lake Shore, So, 81 C.
c. and l. c. 90 %; Western Union, g. TO- Pacific 3ii 49,
1910 D. m-Union Pacific, II, % Lake Shore, 80. 81
New-York Central and Hudson, 92 90; Western Union,
65 6s Erie 6sa Pacific Mail, "a, IS Ohio aud Mssis-
spp 80 81 Northwest, 40, As Rock Island &c. o.; C.
c. and l. Co 90 % St. Paul Common, %, 40; Wabash As,
|
lao D. m--Central, %; Lake Shore. 81 ohios 29i
Wabash As Western Union, Co. CT ; Rock Island 49,
1:55p m-wabash, As, As, At Union Pacific, 81. 2O3
Lake shore 49, SO Central st %, 9li; Western Union
g. TO- g. "a Erie, Ohio 80; Pacific Mail, 49, 3d.
Rock Island 49, SOIL c. and l. C., 90 1871 bid ST. Paul
Sc bid Northwest As, As; Harlem, 100, no. JOG.
$50 p. m.-Lake Shore, IT, 70; Pacific Mail, 49, IS;
Western Union 81 RocIsland, SO, 49, Hannibal and
St. Joseph % bid; Central, 9Oi, Oh Union Pacific 10
Mississippi, %, 80.
GS5 d. m-Unlon Pacific, % Lake Shore, 81 Central,
%; Western Union CA; Erie, 63i; ohio S2i; Pacific
Mail sst Rock Island. 90; Cleveland, Columbus and
Indiana Central, % offered; st. Paul, 36i; Northwest
Iss; Harlem, LOG.
a4op m-western Union s3l; Pacific Mail, 49, Cen
trail and Hudson 49, 30; Lake Shore 49, 10; Northwest
a. As; Rock Island 49, 30; st. Paul, 3li "a; Ohio and
Mississippi, %; Wabash, Is, 45; Harlem, 1Oi, lO6
Latest-western Union, 6s, "a; Pacific Mail, 81, IS A;
Central and Hudson 49, 9O Erie, 81 81 Rock Island 49,
90: Southern IN. 70; Northwest AZ, 49,; Cleveland
Columbus and Indiana Central 90 %; wabash 49, As;
Ohio Mississippi, 90, So Union Pacific l9h 2Oi Har-
lem l02, lOi
THE GOLD EXCHANGE OPEN.
The members of the Gold Exchange called |
IN order at 10 o'clock by the President, Mr.. Norris
who made brief address, congratulating them on |
the satisfactory in which business was trans
actedon Monday, and on the improved condition of |
affairs in general He exhorted them to be prudent |
and to avoid oyertrading after which he declared |
the Exchange open. His remarks were received |
with applause and business then began without |
specia excitement. Gold opened at 112 and at noon
was quoted at Ill., closing at 1924 to 1124 The fol-
lowing is the business of the Gold Exchange Bank |
Gross clearings S17525 600; gold balance, $4,000
currency balance, S53O,l35.
Mr. Camp, the manager of the Clearinghouse, said |
that all clearances were very satisfactorily made
and that there were no weak banks the list |
When asked in regard to the condition of affairs i'll
general he said that he did think, but knew, that |
the banks were all right. So far they are con- |
cerned he believed it would have been safe to have
transacted business in the Stock Exchange yester- |
day, but the trouble that many persons would |
not have thoughtso and therefore he considered the
closing for day longer prudent measure. HIS saw
no reason why all excitement should not now die |
out and affairs go smoothly. |
The following was the Clearing-hou statement |
Yesterday: Currency exchange, S49.4C2,69S IS ; |
balance, "a ,2S3,355; gold exchange SSS9,736 ST. |
balance S2s7, 3i2 "a.
Later IN the day Mr.. Camp said the Loan Com
mittee had been busy issuing the temporary |
taken meeting of the Clearing house Association |
had been called for this morning, at the Mechanics
Bank in Wall-st.. to consider the advisability of
issuing additional loan certificates. How rosny |
more of these certificates will be issued Mr.. Camp
did not know.
HUGH McCULLOCH HOPEFUL.
THE PANIC CAN BE STAYED II THE PUBLIC WILL |