The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1873-10-01
NEW YORK.
Opening OF tho stock Exchange

to-day, warrants the assertion that the
street is recovering from the effects Of
the late storm, and that most OF its
trouble is over. The transactions o'
the day were limited. but there was nc
break in prices to destroy the confidence
and closing quotations showed the re-
covery from the low figures which ruled
Early in the evening brokers were very
anxious about contracts, and general
inquiry at three o'clock, showed tina,
all contracts to-day were IN good shape
the business had been OF q careful
nature, and there was no more than q
fair difference between regular and cash.
At the opening Of the Stock Exchange
there was a very full attendance OF the
members. The gallery was ALEC crowd
ed with ladies and gentlemen.
President Chapman called the Board
to order in the following speech:
I'VE have met again after very mo-
mentous suspension, for the purpose Of
resumiug business. Your action in the
interim has met with universal sppro-
baton. and has been most satisfactory
to yourselves. Business would be car
ried on under the rules adopted yester-
day by the Governing Committee, which
he read, ppoiuting Committee TO set
tie the contracts OF deiaulting parties.
All ask now is that you bel p each
other bear the burden that has fallen
upon us-to 20 conduct business as TO
carry on Its work successfully" Sound
cheering followed the address. asd bus-
iuess was begun. Good feelirg ap-
pears 10 exist, and the opening prices Ct
atock5 show returning confidence.
Following are the operl".' 4"o;arions
for sales.
Central 90; Erie 81; l. ). II;
Northwestern 43t; Rock IslAnJ, 81,
Pacific Mail, So; St Paul 354 pre-
ferred, sly, Ohio, 29!, w. U, G>4;
Wabash, As; Union Pacific, 2l C., G.
& !. C. %; Hannibal and St. Joe, -
1870 A. M-Under considerable
pressure to sell and realize on stock,
prices have declined from those currrht
at the opening, from one TO three per
cent. Bankers generally are unwilling
to operate %: customers on these mar
gins. until offers are better.
Henry j Brooks. leather merchant,
hss suspended, owing to the present fl
nancial ,roubles. He hopes lor an ex-
tension OF time from creditors, and he
will resuur.
The ,mp;e..ion prevails on the street
aud Change, tba: .i the leading houses
will pull through, in which event
better feeling will be Infused through
out fuancisI circles Smith & Seaver,
reported suspended on the 10Th inst,
announce that they will pay all de-
mands in full and resume The price
Of money will depend upon the Stock
Exchange settlements now going on, il
they should be carried through euccess-
fully, and there are many who look for
comparative easy working Of the
market. There was a decided i'm
provement in the Foreign EXCHANGE,
which was locked upon as y favorable
symptom Of le urning confidence. The
eaitug bar kers have advanced their
rates TO lO64 for sixty days sterling
ana 1919 for sight, but actual business
wsssat reduction from these rates.
The chairman OF the Clearing House
Conference Committee announced that
no new failures bad occurred and that
all disputed contracts brought before
the committee had been satisfactorially
settled. The announcement WAS greet
ed with loud applause, and at the clos-
ing OF the Board there was a marked
increased feeling Of confidence.
The chairman Of the Committee on
Settlements OF the Stock Exchange
when questioned said that the commit
tee had been positively astonished to
find all difficulties settled harmonious.
lv. The committee had expected
great number Of suspensions, but
not single one occurred; he be-
lieved that confidence was rapidly re-
turning. President Chapman consid.
ers the re-opening Of the Exchange
brs been very beneficial aud that the
finanCial excitement is about ended.
An impression now prevails that all
leading houses will pull through in
which event better feeling will be in.
fused throughout financial circles.
Items from Late English Papers.
Europeon mail advices o! late date,
have been received by the steamship
Galice, of the White Star line. The
English files just received contain a
letter Of w. S. & n. Gaines, on the
subject of importing iron into England
from America. Ga the l9ih OF August
firm in London received letter from
New York Iron firm, saying that they
were desirious OF exporting bars, feeling
assured the quality aud price would
induce English buyers to i'm port Amer-
csn Iron. Gaines determined to
test the matter by purchas-
ing one hundred tons at
eleven pounds ten ehilrugs per ton, de-
liyered in London, FIVE shillugs less
than the ruling price. This order was
accepted by the agent. aud shortly af.
terwards the agent received a let
ter from his principals, Jackson &
Chase, OF New York, saying they could
no, ill the order at eleven pounds ten
shillipgs without loss. Before this
letter was received, Gaines had asked
the agent to cable whether their
order had been accepted or re-
fused, but be did not do 60.
Canes states that English houses have
been offered lately, English iron in bond
at New York, at prices which would
leave profit to bring to this country.
One thing they coOsider certain, viz
That the American iron uade has
gone from England.
The sensation which London felt in
tho shocEinc discovery NJ q p,pt,lateJ