Wilmington daily gazette., 1873-11-13
FINANCIAL NOTES.

The bankruptcy case of Jay,COOke II Co., came
up in the District Court at Washington, D. c. be-
fore Judge Humphreys, On Monday. Two petl.
tons were pending, that of Clifford Arriek, filed
Oct ,, and that of Il. p Buckner, filed at a later
date. The ArTick petition 10 antc-dated by two
of the thee petitions filed in Philadelphia Most
of the largest Washington creditors Of the firm
were present in the courtroom, aud there was con-
siderable excited discussion before the Court OF
ened. One stated that OK. Governor Henry ID.
Cooke had offered that morning to pay Is per cent
of his claim In cash and TO give him the remandag
in the Northern Pacific bonds at the rate Of S5
cents on the dollar. This offer refused. AnOrh-
or creditor said that the irm AcecTding to the pub
hshed statement of their assets, cOuld raise money
enough TO pay 20 per cent. OF all their liabilities
in cash at once, and fair settlement of the re-
maintsr gOalA be fOT the m0uabers Of ths ira to
give their joint and several notes. secured BY
Northern Pacific bOAdss as eolakaEals, Hhis, he
said, would leave the hrm property 70 the amount
of $4,000 900 or $4,000, 900 with which to resume
business One Of the principle creditors charged
that the firm were ennCealing the real estAe Of
their afairsthat they had made no statment Of the
| amount OF cash on hand In their three banking
houses ON the day of suspension, or Of the extent
of their Interest in the London house OF Jay CoOke,
McCulloch & Co, and that they were aldeaYoring
to stave oil tus issuing OF decree planIE thom in
bankruptcy. He declared thnt he would acct ps no
compromise, and was determined to force them 70
make full sho wing of their assets. The feeling
among most of the creditors was quite bitter, and
| the opinion was general that the firm we're acting
In a manner hostile to their interests in trying to
delay final action in the legal proceeding. When
the case was called the counsel Tor the defendants
| asked further posP0nement OF two weeks as a
matter Of personal convenience to themselves. The
Judge finally granted weeks postponement.
This is the thIrd delay granted. The case first
clme up on the 10th OF OetobaF, and was then ad-
iOurRsd until the 2oth, and on that date was ad-
lourned until Monday. 81 so
w, II. Tenney. by his eOussl, has entered a dis
elaimer OF being q partner in the frm,
EK-Secrstary Of the Treasury, Hugh MeColloet
was called uDOn Monday by reporter of The 1rl
Gaae and questioned relative to his views on th'
financial situation. and the measure! taken by hin
to avert panic In 1866. on the occasion eI imam
eial rsvnlsiOn In EnglAnd. caused by the failure o
OveTend, 0urney Co, and number OF other Lon
don bankers. and the CONSEQUENT collapse Of vas
Mr.. Meculloeh stated that on the occasion refer
Fed 70 he sold large sums Of gold, one day as mue
Is $50 600 900. and by this means he firmly baheves
4 panic on this siee was AaVertsd. He denied thA
he sold any geld secretsy although he did not al
would sell. With reereaee to the present condition
Of Affairs be sstd that the panle had spread 50 Il
believed. ho SF. that the bottom bad been reach
ed. = 1fi ] 7"'-ft J (
The panic has bFOught sonle q the Rspnbhea
papers 10 their senses. Few speak out as plAinl
as the following from the New York Epeaiilg Pos
paper always opposed to the ruinous policy of
protection which, while raising the price OF every
thing to hOms consumers, fails TO protect. "Why,
il says:
. Why are the cotton and and wooden mills
: New England and the iron furnaces OF Pennsy
!. yania, New York and New Jersey closing worn
y Why are the bOOtmakers, and carrlage-makeTs, u
manufacturers Of wood, and In fact all tho indl
2 trial enterprises, discharging all their menp ID
4 cause there is no markst hllWhleA they en- SO
Z their wares at u living profit. The home mATke
: have become OvsEstOcked through years Of arti
; eial prosperity, and when other mArk0taaEe Wanti
. they cannot Be had. Il is impOoaiolo tORaoonntI
Q to live sAhEsly within itself. The time must con
: sooner o. lAteT, Rhep The hcmp market. like y
q home production, fails. 0hs year we want q
= surplus OF ether countries the next year 9th
Z countries Want eur surplus. but u ~ FEohll
!, tive tarR We shut others out Of our markets. wh.
Ne need other markets they are elosod TO us. v
eannOt sell our Roods abroad always tor cash, q
II We viii not take goods In exchange no eann
sell at all, unloaS 81 TulnOus prices. Waeannot
grain and return empty when TIE Aeme marx
falls we must stop business aud ssarve, Foaecti
on The boAeats of pretsetioA to homA Industry.
l. - -----------.-a. -
4 FAILUREs oT PrFTsBURO BASKs. The iaiIO
= on Tuesday Of tha pgqassss Seyllgs Bank .
y the Depoda Dank % East Liberty. hQeh ~ Rll
~ burg, Oanssa quitean excitement Al the Iron Cl
% and considerable apprehension WaN felt OF :
N anon tha hanks there. The saspsaalO8 Of The y
a. qaosna n 3 said, Wps brought about bY the i
- Shlly of the Directors = Eeass 0pon We aeenE
~ held eonseauenkly ronaaEing them unabla 70 N
~ ne demand % thS depOsitoIs, WhiaA hls ben z.
- slant and uaremittihg ulnee tbs ssttlpg ~ Of
- panie. IS liI .tsfA t.lst.ia4
y A MAR TnArls Nor Wan, spAInt b !
=, eAsrt ioP the last kVs yeas % sxleTNinatel
- Cuban insurgents has Lost In Cuhas fnnm
sit cssnalities Of battle and from the climate,
n. hans, nol less than saVenty-ive thousand N
,n- The Cobans have Lest over forty Thousand, !