The Andrew County Republican. [volume] (Savannah, Mo.) 1871-1876, 1873-10-03

curing that showed how futile Was the wish.
! Early in the morning, reports OF the euspen-
! sion Of banks again began to come in from oil
| barts Of the country This news did not reach
the gebsral public until the afternoon, but
bankers and brokers were early advised and
warned by it.
| II il known that every country bank with a
| balance to its credit in New York made drafts
| for it, 80 that the total aggregate country de-
I nlaud was s200, 900. 0O0 Such a demand was
unprecedented, and not to be met. Upon many
bsnkers the run was instantly and secretly
beguii. ...
The crowds III the streets we're doing moth
ing to avert the impending disaster, saying
nothing of that which was undermining and
| destroying many of the largest and best known
| banks in the city. ...I
| Toward noon it became whispered that q
| r,in was being made upon Henry Clews
| Co, It is asserted that Clews paid out during
| the mottiins nearly 81 0e0, 600 on demand and
! then went aboti. tho "strset with mercantile
paper endeavoring to ra1rc more funds. But
| no man knows how his sfellow-rnerchafit stands,
| and the offer to pay 2 per cent. a aday-1o0 per
| cent year-for loans upon good mercantile
psper were laughed at Clews could realize
| nothing OH doubtful railway securities which
| he held, nor anything upon worthless Georgia
| bonds. which he has led others into taking,
and for which he was stuck about 81. 900, 0G0.
He fsiled in every legitimate effort to raise
money, and, being without hope Of further
aid from the Government, he closed his doors
at half-past O'Clock. .
The fact of the suspension created as much
excitement a. the suspension of Jay Cooke d
C,. The news loft the street, at the close OF
business, in o eondition of great excitement,
and the headvay made i'll restoring confidence
was in q great measure lost.
The run on the savings banks continued to-
day, but. as most of, them adopted the time
rule for paving depositors, the excitement
soon subsided.
There is endless confusion, wild speculation,
absrrd proposals., loud threatenings, ominous
prophecies These indicate the clamor at the
Fifth Avenue Hotel this evening, where the
whole city seems congregsted in condensed,
compressed. confused agitation. The pros
poets for the morning are gloomy enongh.
There il depression everywhere and yet 1t
cannot be said that the actual financial situa-
ton in New York warrants this depression OF
the public
Afser the failure of Clews was announced,
the city was flooded with great many r'imors,
involving the credit of snch men as Opdyke,
yermlye. Howe. and Macy. and others who are
beieyel to be sulstGntiai and soin1-
l. .... THE SITUATION IN PHILADELPHIA.
PHILADELPHIA. Sept 23.--The financial Crisis
here is over. and bankers and brokers are
tranpacting business as usual. Az the state
banks that were under temporary dtlcuties
have resumed. except the Union and Citizens
The latter will soon resume. All the National
Banks stood firm, and no doubts were enter
tanned of their stability.
Neither Jay Cooke & Co. nor De Haven d
Bro. have ~ vet issued any statement OF their
affairs. The invsrisble reply to inquiries as to
the probable date of auch issue is, We cam
not say; our clerks are busily engaged on It.
Some few unfeeling persons are paradinS
around caricatures of JAY Cooke after his
fsilure. representing him with head cast down;
knees almost drawn up to his chin. and seated
on an old box, in evidently very abiect state