Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1873-09-25

she struck the land with tremendous force,
| making hole in her bow through which the
| water rushed in torrents. The passengers
| took to the boats, and all eventually reached
| the docks in safety.
The ell-known bankers and brokers, of
Philadelphia and New York, Jay Cooke d Co.,
| have suspended payment. Stocks took tum-
| BILE as soon as the intelligence reached Wall
street, caused more by apprehensions of
| the future than by the existing condition OF
affairs Prominent Wall street men attribute
| the suspension of the firm not so much to the
effort to sustain their Philadelphia house as
| to their operations in Northern Pacific, which,
| it is said, they sought to carry beyond their
strength. Shortly after the suspension OF
Mr.. Cooke, the house Of E. w. Clarke ~ Co.,
of Philadelphia, suspended. In New York,
| the failures of Richard Schell and Robinson q
| Suydam, stock brokers, were announced A
| second I" Black Flday" occurred in the Gold
| Room, and stocks of all kinds began to give
| way, everybody manifesting feverish desire
| to get rid of everything in the form of specu-
| atiye securities. Western Union declined
| per cent n Y Central, 3; Pacific Mail, 4;
ST. Paul, common, 4; Rock Island s; Erie, II;
Union Pacific, 2114; Lake Shore, 3; Indiana
Central 5; Ohio q Mississippi, 81; Toledo q
| Wabash, AZ; Northwestern, 2A, and Harlem
2 per cent In all about 1874, 700 shares of
! stock changed hands. The aggregate losses
were immense. The effect on gold was to ad-
vance it to ll214 to 1l2s4. The London house
! of Cooke, Mccullough * Co. is thought not to
| be compromised by the failure of the parent
| house. The embarrassments of the house are
| said to be directly traceable to its connection
with the Northern Pacific Railway.
The German bark Malvina Schott arrived at
| Wilmington, n. c., on the 18th, bringing six
| survivors of the bark Vorwarts, which was
| lost during the recent storm. Captain
| Schrebbs and three seamen were lest. The
| survivors were without food or water for
| three days, and suffered terribly.
| Carl Vogt, the alleged murderer of Chevalier
| Bots du Bianco, in Brussels, Belgium, was, on
| the 18th, discharged from the custody of the
| U. s. Marshal, by whom he had been held to
| await extradition, but was Immediately ar
rested on a civil suit to recover property stolen
| from the murdered Chevaier.
The State Department. on the morning of
| September 10, received a telegram from VIM.
Reed, Vice Consul of the United States, at
Dundee, Scotland, announcing that the miss
ing members of the Poaris crew had arrived
| there in destitute condition. Ten were
| brought in by the Rayenscrag, and three were
expected to arrive in the whaler Intrepid,
within two weeks Consul Reed was instruct
ed to care for them and send them home by
the first steamer. They say, after separation
from Tyson and his companions, the Polaris
was abandoned in sinking condition. The
| party wintered in Lifeboat Cove, and in the
| spring built two boats of pine, and in these
| embarked as soon as the ice broke up. On
| the 22d of June they were picked up by the
| Ravenscraig.
| Dispatches from Philadelphia of the 10Th
| say that ten other failures had occurred in that
city, besides those of Jay Cooke d Co. and
| (. W. Clarke d Co., reported on the day
preceding, as follows: De Haven & Brother,
| Gilbough, Bond Il CO.; George II. North; J.
| ?. Il II. z. Yerks; Charles P. Bayard; John
2. Lloyd; Henry III. Douglass; II. Heber Ball;
| I. {. Knight and II. L. Fell Il Bro. Runs
had been made upon all of the banks, but up
to the time of closing business they had paid
| every dollar demanded most decided at
tack had been made upon the Fidelity Trust
and Safe Deposit Company, there being prev
aent impression that it had been connected in
some way with the houses of Cooke and
| Clarke. The aggregate of funds drawn out
was something over 81 100000. The President
| had arrived, and it was believed that he had
: come to offer the sympathy and probably the
assistance of the Government to Jay Cooke
Il Co.
| New York dispatches of the 10Th say the
excitement in that city had largely exceeded
that of any preceding day. Nineteen addi-
! tional failures had been announced, among
others, those of Fisk & Hatch; White, De-
| freitas u Rathbone; Beers IL Edwards; E. j.
Jackson; Thomas Reed Il Co.; w. II. Warren;
Greenleaf, Norris & Co.; George Alley; Theo-
dore Bedel; A. NJ Kidder; Hay & Warner;
Day & Morse; Fitch Il Co. E. D Randolph d Co.,
representatives of Tom Scott, of the Pennsyl-
vania Central Railway, and w c. Connor
| The sacrifice of stock values had been largely
in excess Of the depreciation of the preceding
day. By noon Harlan had fallen 80 per cent;
New York Central 5; Rock Island ga; St.
Paul, 9; Ohio and Mississippi, II; Western
| Union, 10 per cent. from the opening prices
Money brought extravagant prices, the ruling
rate being one and half per cent. per
day, even this rate being reluctantly
accepted. Strong and persistent attacks had
| been made against all the monied institutions
notably the Fourth National Bank and the
Trust Company, of which Richard Schel was
| President. Up to the close of business every
| demand presented had been paid The effect
| upon gold had been to raise the price to 1l3L
early in the day, but by afternoon the price
| had receded to 111A
| Washington telegram of the 10Th saws that
! the Comptroller of the Currency had appointed
| receiver for the First National Bank of
that city, and an examination into its condi-
ton had been commenced. 1t did the Wash
| lngton business for six hundred banks in the
country, and its Indebtedness to them did not
exceed $4,000 A run had been made on the
| Washington City Savings Bank and the Freed
mems Savings Bank, but it was thought
they would be able to meet all demands.
| The Secretary of the Treasury had directed
| the Assistant Treasurer at New York to nur
| chase SIC, 600 worth of bonds, and deposit
portion of the Treasury balance in the
| National Bank repositories, in order to stop
| the panic.
On the 18th, the suspension of the banking
house of A. {. u o. F. Badger, of Chicago,
had been announced
Personal.
Governor Booth was. given an enthusiastic
in 30 Err