The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1873-09-29

Inahass n1,nd pSanosjt ,een,ed ns;tisiv
by bonds rs etated above under
caption Of resources. ............. 2Sl,1Ss
Due to banks and bankers. ............ 1,oA !46s
Total. tal......................... ,sss
The loans and advances included In the
foregoing statement, to various persons
upon securities, certificates Of settlements
and other vouchers, under the District oi
Columbia government, including the
Board Of Public Works, amount to 1885,;
097, and securities, certificates and vouch.
ers, upon which they are made, represent,
in aggregate. fair value Of $44 1880. The
Indebtedness Of the bank TO the District
government 10 s7iG9S. Among the loans
and discounts are three notes Of Northern
Paciic Railroad Company, aggregating
100000 and maturing October 18, 1873
IL has been stated to me that this indebt-
edness will be made good at maturity. i
have notified the Treasurer Of the COM
pany that payment at maturity Is requir-
ed, but this indebtedness should be wholly
omitted from tho value Of the losses and
discounts, or II the value Of said indebted.
ness be separately estimated, then $l00,-
600, which Is the amount OF surplus en-
tered on the books OF the banks, as in
vested in tho business OF the bank would,
| It is estimated, cover tho losses that may
be sustaineds Elm realizing the rest Of the
loans andidiscounts, 1t appears from the
foregoing statement that were the I'M
debtedness of Messrs. Jay Cooke & Co.
to the bank to be paid in full the creditors
Of the bank could be paid in iull, and It's
capital stock would be unimpaired. The
proportion in which the debt OF the bank
can actually be paid must depend upon
the extent 10 which the Indebtedness TO II
Of Messrs. Jay Cooke & Go. shall be dis
charged. This 1t Is not IN my power 70
estimate. Detailed exhibits Of the ag.
gregated items, presented in the foregoing
statement have been prepared and as
soon as copies can be made they will be
forwarded to you, and In the meanwhile
II will In person submit the information.
contained. have called upon the va
rious banks indebted to the 1st National
Bank to remit the sums due from them,
and also upon the ,depositors whose ac-
counts have been toverdrawn, to make
good their deficiency. sAs, soon as the
currency and coin<in the bank could be
counted, I deposited. 1t to tho aggregate
amount Of $95 ,6i2, in the Treasuryioi the
United States, subject to, your orders, in
trust ~ for the !, creditors. of the
bank. The proceeds since received 1by
me, resulting from 'remittances by other
banks for their indebtedness from the
payment Of loans and from the elections
of other Indebtedness to the bank, have
also been deposited In the United. States
Treasury intthe same way, for the benefit
OF the banks creditors. The mutilated'
currency belonging to the bank might
also, in my Judgment, be forwarded to the
Treasury, This action has; been delayed
BY revision Of the accounts relating TO
the mutilated currency, and by the claims
presented by some Of the banks from
which the currency has been received for
the return to them of the amount for:
warded. This question will be q subject
of consultation with you, but whether the
amounts claimed shall be returned, or
whteher all Of the currency be forwarded
to the Treasury; the First National Bapk
will, In either event, be entitled to credit.
As an offset to its Indebtedness, as re.
ported above, blank forms have beenpre-
pared for the presentation Of the Claims
against the:bank. !ss..dl.,iiss.-'s . : 55S N |
Resolutions Adopted by the Phiia.
'ss5delphia Board of'Brokers. zhss
+ s. PntLApELpHlA, Sept The Board
Of Brokers to-day. adopted the following:
aWHRREAs,s The embarrassed state oi
the finances or the country, growing out
OF, the scarcity ot currency the too rapid
development sof railroad Interests and
the system Of over.trading, has given rise
TO panic, in which the idea Of intrinsic
values Is entirely forgotten, therefore
"ReDlued, Thatwe heartily endorse the
action Of. the secretary. Of The Treasury
| in bis efforts to stay the tide oi ruin by at.
| fordipg o temporary relief, and his ssHise
discrimination In the, use Of 1.-The. resources
at his command. ,IlEa!TzTr5 yIyis
"Resolred, That we urge upon him the
necessity OF bringing before Congress o
plan for a general banking law by which
the benefits. Of our present system may
| be more generally extended, and, serve
more fully the growing interests Of our
COuQIIlsf A4PfLAA NkIA
aRssosesd, That as'the' great sources Of
our wealth, the crops and the general
productions, are more promising than
ever, and that therefore the enterprises Of
| the country have greater chance OF
profit and success, that tho sudden and
wild decline In values Is the result OF the
result Of the panic and without any rea-i
annah1a rftian gT :, - ~ f,stss+s5gT .f. . -
-. .Rssolpsd, That we deem Il our duly TO
lartest IN eyeryway indiscriminats sacrifice
| Of securities and TO- express our hearty
condemnation Iof those whofcr personal
profit attempt to aggrayate the evils and
Icause a still greater decline in values,
l n A Board Committee was appointed TO
confer with tho bank ofhcers on the finari.
cialsituation. gSS.'s ';5sss gsSsa bsl si557fssq
ementand, Bank Suspensions at
= sts5l lsIf louisville. S,r,sss ~ - - a;
LouIsvILLE, Sept. Considerable OK.
citement prevailed to-day caused BY the
snspensionlat ap early hour OF the follow
Ing banks: German Security, German
Insurance, Masonic Savings, Western
Bank, Central Savings, German, Bank and
louisville Banking Co. Business generally
tquiet and prices nominal dor oil leading
articles.S There was no run at the close
Of the banking hours upon any other
i slalas IGTERsAND EuIIRs 50 'g,l1.a
q LouisYt1rEs Sept. 27-Thel following
banks suspended payment temporarily to.
day: German Bank, Masonic Savings
Bank, Western Bank, German Insurance
Bank, Louisville Banking I Company
Western German Savings Bank, Central
Savings Bank. The run has been steadily
, increaaing on these banks for the! past
/ three days. The Presidents met las,