New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-09-20
BY TEL GRAPH
BANK FAILURES.
kUspen.iDIP Announced. .

Suspension Announced.
Ssw YORK. September I9.-The follow.
ing suspensions ate announced: Robinson
Il snydair: Richard Schells Fisk & Hatch:
White. Defvees s. Eathboae: Burs &. Ed.
wards; Eugene Jackson: Thomas Reed &
Co: w. II. Warren: Greenleaf 4 Norris:
George B. Alley; Theo Biddle: A. NJ Kid.
der.
Wild Excitement. In Wall Street.
The widest excitement followed the Fisk
& Hatch failure Wall street was in its
shirt sleeves and bareheadedo Stocks fell
ten per cent and are still sinkingo DeHae
ven& Co.. of Philadelphia. failed.
jay Cooke Il Co. have assurances from
their London house and correspondents in
othes cities that their bills will be protected.
Additional fnformntione
Fisk s. Hatch say their suspension Is only
temporary Their advances are upon Chesa.
peake and Ohio road and Central Pacific.
They expect To Tesuine as soon as the PANIC
ceases.
Fitch e. Co. have suspended.
The office OF Fisk i Hatch Is strongly
guarded by police
A prominent wall street banker says if
the movement now making to get the Secres
tary OF the Treasury TO come to the relief
with SiO000.000 should fail, there will be
seueEak Suspension Ol DduhS duu OIucTSe
4 meeting of the bank presidents is now
being held at the Clearing House, The pc.
lice are preventing all but the members
from entering the Stock Exchange
Z. D. Randolph (. Co.. bankers Of the
Pennsylvania Central railroad and Will.
liam II. Conner announce their suspension.
The Clearing House has appointed come
mittee of five to prepare q plan 10 relieve
the present difficulties.
al, -, hneka
Western Cniop -. There is crowd
around every paying teller 3 desk. George
y. Alley. whose suspension is already
widely known, says his suspension is
caused by the general decline in stocks,
especially Vanderbilt stocks. Liabilities
cot large and he expects to resume soon.
GTeenieaf, Norri, Il Co.. an old aud
wealthy stock firm has suspended.
Presiden: Calhoun. of the Fourth National
Bank says. I've have NO reason t0 fear
anything
President Tappan, Of the Galiatin Ma
tional Bank. says he believes the better
banking institutions will weather the
storm.
Secretary Carleton. Of the Union Trust
Company. says that the company Is per-
teciy solvent, and will meet all demands.
II was reported that the company had
100000 on deposit last night.
Mr.. F.Inestock, OF Jay Cooke & Co..
said. in an interview this atternOOne that
the firm hoped 10 pay all liabilities. MIR.
Garland. another member of the firm. said
that the London house will, bave large
surplus after the payment o! al! its debts,
unless there is g:eat shrinking IN the value
Of securities.
The ,a.es: rumo, 90 the street is that the
government will come u the rescue tomOr.
Vow by buying g, 600 600 bonds.
no and rroViSioH markets. Ar, All
unsettled by the Wall street panic.
Assistant Treasurer Nlllhouse says it Is
in the power OF the national banks to avert
further disaster. and they viii undoubtedly
do 80.
3::5 =. N-The ev.nin. Post IL informed
tina. Secretary Richardson will offer TO bay
tiy. 20 ten million tve-twenties tomorrow
This will throw into the banks legal tender
notes ;oy the large currency balance in the
treasury. which is hearty all composed of
legal tenders. With the panic thus checked,
q calm rs expected. and low rates for money
will soon follow.
Jacob Li.tl. Il Co. have failed.
Ti.e Wors: Of the Crash - Osev.
The Union Trust Company paid till T..
H.. az hon: later than usual. The Man
haitian Bank was open till the same hour to
certify the Union Trust Conpany's checks
Prominent bank officers are OF the opinion
tha. tle wors. of the crash ~ over. The
vcIune o: business in the Stock Exchange
largely exceeded that OF yesterday. while
the fluctuations were much greater. AS
the announcements OF failures followed
each other IL quick succession the excite
men. became wilder, and heavy blocks of
stocks were thrown overheard, apparently
regardless OF the prices they brought.
The Erpe,s tonight sums up the sieua-
tiou As fellows: THE day closes on the
whole with fewer killed and wounded than
Nigh: be expected, ali things considered.
No t:ust company has suspended. no bank
has refused payment. Ali the great rail
road corporations are apparently a. firm as
rock
The following firms have suspended in
addition 70 those already reported: White.
more s Anderson and Smith, Seaver & Co.
New YORK, September ~. : r M.-The
Stock Exchange has been the scene Of the
wiIles: excitement throughout The morn
ing, the vciUne Of business having been SO
large and the fluctuations OF such proper
toa5 ~ to make it well nigh impossible 20
keen a reco,d OF the business. As each fail
ure wa. announced on she Exchange the
excitement increased. and everybody Y
seemed Wild with fright. Goodness and
confidence departed for the time, and it is
many years since such scenes have been
witnessed on the Exchange. The decline has
ranged from one and a halft thirty per cent.
The following is . complete table OF the
highes: ana .owe.t prices up TO this hour: