Dodgeville chronicle. [volume] (Dodgeville, Wis.) 1862-current, 1873-10-03

iaiSely 10 the actual scarcity or money, an
there were grevious complaints from the gre.
commercial world and the Produce Exchane
IN particular. Earnest appeals had been mao
to the Government for relief, and resolution
| had been adopted by the Produce Exchang
7 suggesting to the Treasury the issue of GU
rency to the banks and bankers O
evidence that gold had been deposite
in the Bank of England t
the credit of the United States to be used onl
in buying exchange. The breadstuffs marke
was still under the influence of the block
exchange.
A Washington dispatch of the 25th says tha
the President had returned to that city perma
nently. At consultation held between th
President, the Secretary of the Treasury an
the Attorney General, the latter officer he'll
that the bonds of 1874 could not be redeeme
legally before maturity. It was therefore de
cided that the Treasury could take no furthe
steps to relieve the New York market, excep
as it was affected by the regular trans
actions of the Department. DR.. Leider
man, the Director of the Bureau O.
the Mint, had predicted that the effect O.
this stock panic would be to hasten the re
sumption of specie payments. He said tina
within a month, it was his belief, that silve
and gold coin would be a medium of circula
ton at currency rates. In anticipation of this
result he had ordered the mints to largely in
crease the coinage, and stated thatmore bullion
would be coined during the next three months
than at any previous time in the same period
! Secretary Richardson had stated that it would
| be good policy for all the banks to suspend
further currency payments. 1t was rumored
in Washington, on the 25th, that the President
had been advised to call an extra session OF
| Congress.
| A dispatch from st. Louis of the 25th says
| that the banks of that city had held meeting
ON the evening of that day and resolved to
adopt the plan of issuing Clearing House
certificates.
A Newark, N. j., telegram of the 25th an
nounced that the State Bank of New Bruins
wick had suspended This is the bank that
was crippled by the irregularities of Appleton,
the cashier.
A dispatch from Nashville, Tenn, says that
the National Banks of that city had suspended
currency payments on all balances exceeding
$500.
A dispatch from Selma, Ala, of the 25th
says the Savings Bank of Selma had suspended
in consequence of an extraordinary run by
depositors.
All the banks of New Orleans partially sus-
pended payment on the 25th, according to a
dispatch from that city. The suspension was
to remain in force for thirty days.
Telegrams from various cities in Georgia,
of the 25th, say the following banks had sus-
pended: National Exchange, the Merchants
and Planters National, the Planters Loan and
Savings banks, of Augusta, Ca; the Dollar
Savings Bank, of Atlanta, Ga; Savannah
Bank and Trust Company and the Southern
Bank of Georgia.
A Detroit dispatch of the 25th announced
that the Schooner w. j. Whaling had been
beached at Green Haven, Michigan, on the
forenoon of that day. Vessel and cargo were
total loss. Two of the crew were drowned.
A Wapello, Iowa, dispatch of the 25th says
that on the afternoon of that day Professor
Boley made an ascent from the fair ground at
that place in his hot-air balloon. Just as the
balloon left the ground it took fire near the
mouth He had not secured his footing on
the horizontal bar on which he stands, but
went up hanging by his hands, and did not ap-
parently see the fire until he was too high to
let 90 with safety, but hung on until he had
reached an altitude of twelve or fifteen hun
dred feet, when the canvas that held the
hoop at the mouth, from which he was sus-
pended, burned away, and he fell, reaching
the earth quarter of a mile from the point
of starting. His body was frightfully man
gled, the fall driving his legs into the hard
ground up to the knees. Life was extinct.
A dispatch from Shreveport, La, of the
25th, says the fever which seemed to have
abated on the preceding day had broken out
with renewed violence. The interments num-
bered twenty-five.
The Interstate Industrial Exposition was
formally opened at Chicago on the evening of
the 25th The huge structure was thoroughly
packed. 1t was estimated that fully 10000
persons were in attendance. Dedicatory
speeches were made by U. S. Senator Logan,
Ex-Governor Oglesby, and others.
New York dispatches of the 26th say that
better feeling prevailed in that city on that
day in regard to finances. Henry Clews & Co
and Macy & Howes had proposed to their de-
positors to resume business on new accounts,
leaving the old to be settled as securities can
be negotiated. Gold had taken an upward
turn. At one period during the day it had
reached 1141S, but it subsequently receded to
113A and closed at 113a<. More activity had
been developed in Western produce. Prime
bankers sixty day sterling had sold as low as
1OS, and sight 1O4; commercial bills at 1910
1O2 for sixty days, and 103 for sight The
banks had cleared early and in good shape
There had been few sales of stock, but the
quotations were not considered reliable. The
city had been drained of money at lively rate.
The express companies had been carrying
away currency at the rate of 100000 day
for nearly week. 1t was rumored that Fisk
g. Hatch had perfected arrangements to re-
sumo at an early day.
A Philadelphia dispatch of the 20th says
proceedings in bankruptcy had been COM
menced against Jay Cooke &Co. The pub
lished statement of that firm shows liabilities
of 81, ,939, 400; assets, SIS, ,966,211
A dispatch from Washington of the 10Th
saws that the liabilities of the First National
Bank, of that city, are about $1,25O,O0O, OF
which sSOO,O0O is due other National Banks
Its assets are not given.
The 26th was Chicago's ''Black Friday" The
Union National, the Second National, the
ManuIdcLuTerS NdlIOHdl, SOOh SOuuty Va
tienal. and the National Bank of Commerce,
all closed their doors on the morning of that
day. The Board of Trade of that city had
adopted resolution prohibiting dealing in
grain options for the present, on the ground
that such dealings had tendency to depress
prices. In view of the present monetary situ-
alton, and the difficulty of drawing city de-
posits, the Board of Public Works had decided
to temporarily suspend work on all sewer i'm
proyements not actually commenced. A meet