, 1873-09-21
ST. LOUIS.


HUtcfdE Df8pn{cA to 1Ht Ch1faJ0 1Ttbunts
ST. LOUIS No., Sept. 2o.-The failure Of Jay Cooke
l. Co. occasoucd Home talk In st. Louis but produced
no excitement. Our city never Ind much to do with
that firm, aud haH had fow speculative interests In
common with New York. The announcement ycster-
t1ay that Fisk, Hatch It Co. End other wen-known
Eastern oses had yielded to tho pressure produced
q startling effect. To-day hns been about tho
dueat btlHinesB day ever known hero, values being
unsettled. There havo been comparatively few COM
mcrcIM transactions and m almost Sabbath
quiet has prevailed on 'Chango; Btill it CAN
not DO SAID tat there y any R9tgSs fssr
have scanned the paper presented Little closer than
Hons have beon moro guarded. Thoro have been no
Signs OF run on any ank In fact 1t Is not known
through fcar of loaing it, It was remarked this after
moon TINT tho number Of Saturday depositors at tho
srca%staneo % Which mfat % Se vnriously taterproted'
There si1tytwo banks In st. Louis most Of which
have been managed tn .nanneE to co,nport with the
every known, Is dccoros to the vcrgo Of 1ogylsn
Many Of the smauer banks depend strictly upon Cor
man patronage, and, ua tho financial Btringepoy
pea thu stoekholers Of these to pay up, enc good
Thing viii havc been accomplished.
comcrci. % men @ shows tit nothing Is feared except
sspeesl hy eanuet arsovfr syf tnst ct
respondents Of any Of tho banhs III st. Louis 10 there
arc no direct lossea.
Now York, has caused tue suspension ef Tnuseig,
Gimpp l. Co.. railroad stock -broklnR firm doing
NJ sa i essSs s i @ sui vii viii n
be much felt IN commercial circles. They cont-
sa s q by hs o and sas os
this hose has not been heard from aa yrt The bns-
Of st. Louis will stand by tho banks to the
III. i. B. Jones, President Of lhe socona National
Bank. and ono Of tho most Intelligent nsnciera in tho
criss Fur some yoara baet American securities have
been gradually depreciating IN Europe and for tue
oral roads hnyo defaultcd their interest. and
have mpsudcnty offered to pay 10 currency instead Of
goa Erope s bssn 9 our market 1or cheap n money
Ms our Intlroad facilities, whe VIC havo needed the pro-
ducts Of our own crops hero for our own commercial
transactions. Tho crss hns been cauRcl by the fall
ra Of those banking houses that havo been largcly
Identified with unprotected railroads, such MS Jay
Cooke l. Co., connected with the Northern Pacific, and
Fisk, Hatch & Co., Interested In tho Chesapeake +
Ohio. The ramihcatonB Of their failure arc exten-
sive, anti disturb the entire monetary world There
really ought to he no general crisis resulting from tho
failures of these firms. As soon rs these men, who
havo been cen anrgo borrowers, are gut Of tho way,
there will bu greater financial quicudo than thcre
has been III thu country for many Tho crisis Is
tension Of raroas, bankers will In future bo slow
to mc1dle with them.
bank NeW YorE should a L oab lit no Ms To-
in1uEc tho Western States, and aoon es tho crops
nra commence I'm MOVING gney will 70 abundant every
md the season should be prosperous beyond
tho ordinary. The balance III Now York is
largely In iavor of tho Weat. und the crtsis como
when the otherwise, it would hnve been much
lisaatrous. Mr. Jones' aaid further Of the com.
Dnati0n Of the New York banks for thor mutual ben
cht taat 1t was good thing, although illegal, It WAS
tn tho natnro Of war measure, and excusahlo. He
Treasury would anticipate tic payment Of tho Novonl-
Der mud January Interest," as would give great relief.
Amecng Of bankers IL talkod Of here but Ia not
yGry probable. =