New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-09-23
A RETURN OF SANITY.

CONFIDENCE RESTORED IN WALL-ST.-THK STOCK
EXCHANGE STILL CLOsED-THE GOLD EXCHANGE
AND BANK TO BE OPENED TO-DAY.
Although considerable excitement prevailed In
Wan-st. yesterday, at the opening of business, yet
IT was evident that the feverishness of the past few
DAYS had passed, and that reason gradually re-
suming its sway Men formed in groups on the
street and discussed the situation earnestly, but dis
passiOnately. Whatever demonstrations were made
proceeded from outsiders" and not from actual
dealers or frequenters of the street The streets
were crowded. and locomOtiOn was uncomfortable,
and even difficult but the great bulk of the people
had no business there and came only to witness the
anticipated excitement, and the breaking" of the
banks. They were very much disappointed, how
ever as The banks did not break, and with the ex-
oeption of the savings smaller banks there were
no dangerous runs of any kind reported upon any
institution of prominence. The closing of the Stock
Exchange the tacit abandonment of business by the
Gold Exchange and the conservative tone Of all who
had any interests at stake, seemed 10 alay the appre
tensions Of ALL and by 3 o'clock cheerful feeling
had actually returned. Nearly all seemed to concur
in the belief that the worst had been and that
brighter day was about to dawn.
Tue Stock Exchange was not opened yesterday,
the Governing Committee having deemed il advisa-
BILE TO keep il closed for at least another day. As
consequence there were no official quotations, al
though there were a number of private transactions
III The offices and few on the street. A number of
capitalists with ready money in the shape of legal
tenders spent their time in endeavorng TO effect
bargains by purchasing good securities at low or
panic figures. In this they were slightly successful
as they succeeded in getting good securities at
sderably less than their real value.
Among these were several hundred shares of New
Yor Of a. au6Q lei nd
w. and 90 Western Union Telegraph at 65 u, and
TO; Wabash, AZ, 80, 49, and 50 Northwestern Com
mon, a aud 80; Union Pacific, 20 2l!, and q c.
c. and !. c., % %, and p Harlem, lO5 and 10;
Ohios, Is Lake Shore, 50, 49, and 81; Pacific Mail
50 and IS. All these were cash sales.
The Governing Committee of the Stock Exchange
appointed, yesterday, committee to confer with
the Clearing house Committee for the purpose of
deciding upon the best measures to be pursued 1t
is understood however, that the conference had no
decided results. A meeting of the Governing Com
nittee will be held at $50 a. IN. to-day at which il
will be decided whether the Exchange shall be
opened or not.
The Gold Exchange opened at 10 o'clock as usual.
The President. Mr.. Morris called the Board
10 order. and on motion Of Robert J..
Cutting, jr., il was unanimously resolved
that the room should be kept open for the
SATURDAYS business through the Clearinghouse,
and that any member offering to buy sell gold in
the Exchange or on the streets should be expelled
The best of feeling prevailed. 1t was also resolved
that the price of gold be fixed at 12 for settlement
between the members of the Clearing house trans
actions and the carrying rate for gold was fixed at
per cent per annum. 1t is expected that the
Exchange will reopen again to-day for the trans
action of business.
The Gold Exchange Bank, the clearing house of
the Gold Room, completed, yesterday the cearances
for the transactions in gold Friday and Saturday
involving an amount of $92 600. This bank will
also resume its functions this morning.
The Loan Committee of the Clearing house was
established yesterday in apartments on the second
floor Of the Bank of New-York building. f. d.
Tappen and Manager Camp were in attendance
They stated that the scheme was moving smoothly
and the Clearing house had come to the conclusion
that if the S1OOO0OOO of certificates not suf-
Gent they would issue more.
There were nearly S6,0OO,0O0 OF the new loan Ger
tfcates received yesterday at the Clearing house.
THE GOVERNMENTS HELPING HAND.
PURCHASES or FIyE-TwENTIEs-sAvISG BANKS
SEEKING TO CONVERT THEIR SECURITIES.
The following notice was suspended near the
cashiers window in the United States Sub Treasury
yesterday:
UNITED STATES SUBTREAsURY,I
NEW YOKK, Sept, n, 1873. ,
The purchase OF bonds to-day will include ali the DIFF
fereDt series Of s Payment will be made IN currency
at the rate Of 10 7Oi and accrued interest in coin.
BY II a. m large crowd had assembled ID the
corridor awaiting their turn TO dispose OF their
bonds; but the clerical force was sufficient 10
attend TO them with great rapidity and by noon all
The bonds offered up TO that time had been pur-
chased. From that hour until p. IN. there were
occasional offers. one small lot coming ID Just before