Carson daily appeal. [volume] (Carson City, Nev.) 1873-1877, 1873-09-27
CHE SITUATION.

the country alter the 1rst shock
the great financial disturbance Ii:
come and gone is painfully indicated
in the following:
Money is unGuotable. The bank!
to day of the Clearing House Associ
alton are pooling their legal tenders
rs provided by yesterdays resoln
tions. One or two banks which STAND
exceptionally strong refused at tirs'
to put their legal tenders in, but
finally concluded to, rather than be
expelled from the association. Loan
certificates were issued by the Clear,
ing House to-day to the amount OF
S37 900. 200.
Greenbacks are still worth pre-
MUM, and sales we're made to Gay
all the way from to So per cent for
certified checks.
Ihe deadlock in foreign exchange
is TOW at its greatest point Of danger.
rs it involves not only our foreign
trade but every dehartment of do
mestic trade, from the main shipper
of produce from this port to the
grower Of the grain 1T the West or
cotton at the South. The signs Of
encouragement asi,.e from this are
that tie banks are gaining in de-
posts, and their machinery for going
through the crisis is working salts
factorily. Foreign exchange. while
nominal. hes sold at 535l< for prime
60 days sterling. and 8 "a 6 for cable
transfers.
Orders from the interior to pur-
chase stocks at the present low prices
are Increasing, and responsible firms
have traded among themselves to-day
Ia xuite an extent.
A number fthe Western railroads
show largely increased earnings for
the last few weeks.
4 special London dispatch says
that at Z meeting Of the Erie stock
holders to-day President Watson Is
said to have repudiated any inten-
ton OF the amalgamation Of the Erie
and Atlantic and Great Western rail
roads, and denied the intention OF
guaranteeing bonds of the latter road,
Henry Clews & c.. AMI Howes x
Macy have received large deposits
which were on their way at the time
of their suspension. The amounts
have been credited to the customers
and held subject to their order.
The feeling in Wall street is much
ouieter to-day. No additional fail
ures have been reported, and net
uithstanding the disappointment felt
at the action OF the Secretary OF the
Treasury, it is hoped that confidence
which received SO severe a shock on
will soon be again restored.
There was less apparent excitement
on the street to-day than on any
since Thursday last. As usual, a
crowd Of brokers and clerks collected
il front Of the Stock Exchange, but
the number was smaller than on the
previous day, and the general tone
of conversation was calm and ratio
nal. Some of them expressed great
anxiety for the future. There are
many conservative men who think
that the associated banks are fully
able to hold their own, and thot the
back of the panic has at last been
broken.
The Stock Exchange still remains
closed and the common report is that
it will not be open until Monday in
any event, and possibly not then I'M
less there shall be marked improve
ment in the condition of financial
matters. The conversation of dealers
a. tie Produce Exchange to-day
shows that the market tor flour.
petroleum and naval
stores remains stagnant. Dealers
cannot act intelligently OF make fu-
ture contracts while the present I'M
certainty continues. The grain trade
is extremely quiet. The absence OF
q market for commercial exchange IS
checking business TO a great extent,
and OH this account dealers are IN
able to dispose Of their merchandise
TO shippers, and the current has set
back to the West. Large amounts
Of grain have arrived here which
we're intended for shipment. and now
remains in the warehouse IN conse-
L