Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-10-26
FINANCIAL.
General Distrust in New York.
Heavy Fall i'm, Leading Stocks.
' Vanderbilt Reported Hors du Combat.
Largest Cotton Mills In the World
ul. Suspended indefinitely.

New YORK, Oct. 25.-No bank state.
ments to-day. No specially new features
were brought out this afternoon, but q gen.
eral feeling Of distrust took possession of
the markets, and stocks were heavily
pressed for sale ct prices from 2 to ~ per
cent. below the quotations current in the
forenoon. The decline, 1t is said, was
chiefly caused because several large time
loans of money on which blocks of Wander
bilt stocks were carried had matured, and
the lenders refused TO renew them. Ac-
cordingly, the stocks had to be sold at the
standing. A cause for the decline was also
freely circulated, that Commodore Wander
bit was sick. This rumor was quickly de-
MED, only to give place to another
to the effect that there was hitch In the
negotiations between the Trust Co. and
Lake Shore, and that the Commodore could
not put up the securities he agreed TO-.
When this report had gone the rounds, it
gave place to more mischievous rumors that
some large stock firms were in trouble, but
the day closed without anybody being re
ported } the Stack Exchange, or any names
being mentioned. The decline in Wander
bilt stocks brought out other long stocks,
and the bears also sold freely, which assist
ed the downward movement. There are
many operators on the bear side, for the
reason that it is now easier to sell than to
buy stocks, and this carries the stock down
on every unfayorable rumor.
Gold Movements at the sub.Treasury.
The Treasury operations for the week at
the New YORK Office, included the disburse-
ment OF 100000 in gold for interest, and
in the redemption of $40 bonds, and the
receipt of 81, ,109, 300 for customs in specie.
The exports for the week were nearly four
hundred thousand, principally silver bars,
and the imports over fifteen hundred thous-
and pounds. The general merchandise i'm
ports, including dry goods, were S., $50, ,093;
produce exports 81, ,430, 1926.
pass Peake, Opdyke & Co.
In view of the depression in Wall street,
the announcement is gratifying that the
well known dry goods firm Of Peak, Opdyke
g. Co., who suspended just three weeks ago,
will resume Monday next. This event will
doubtless contribute greatly to the restora-
tion of business confidence.
The Euening Mail says several Directors
of Hoboken Savings Bank have, during the
last three or four days, made exten nsive
transfers Of property. In view Of their
action, County Clerk Kennedy, who has
$1,000 on deposit in the bauk, made
peremptory demand for his money. He
didn't get it and well, it is said, throw the
bank into liquidation.
500 More Employees 10 ibe Turned
Loose.
The Danforth Locomotion Works, In
Patterson, employing 500 hands, will soon
stop.
Expansion Of S125,OOO.
WASHINGTON, Oct. 25.-The outstand-
ing legal tenders are 6O,2S4,SS8.
New York Factories Following New
England.
CAHoEs, Oct. 25.-Harmony cotton
mills, the largest of the kind in the world,
will close tonight indefinitely. 1t is proba-
Bile the wooden manufactures will soon fol-
low.
NEwBURGH, Oct. 25.-The Newburgh
steam mills owned by Garnes & Co., of
New York, have stopped, throwing four
hundred persons out of employment.