New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-09-27
THE CRISIS.
The Situation Friday Morning

| II VI all street this morning presents no new
features. Business generally continues in
state OF suspense. Foreign exchange has
been reduced by bankers to 5la, and 6la for
long and short sterling, with actual bust.
ness as low as iIe and 5le. Gold has been
strong, with more activity: sales at ll25s
Money Il l2 and commissions. Western
onion 50 u.
Several parties are short Of gold and re-.
fuse to pay half per cent for borrowing
consequently there is hitch in the clear.
anca OF gold at the Gold Exchange Bank,
Tie S".. says the Adams Express Com.
Dany has carried daily to the interior
Si,o0o.000, and the United States Express
Company has been carrying out about
500 900 daily.
Twenty-four hours notice is to be given
before the Stock Exchange opens.
Total amount OF loan certificates issued
by the Clearing House up 20 tonight. SIS..
coo, ,01O
The Lean and Trust Company. the Peo.
pies Il .nll o! South Carolina. and the Plant.
ers and Mechanics Bank have suspended.
These are State banks. and represent less
than ore quarter Of the banking capital OF
Charleston.
Three national hanks and the Union
Bank pay al demands n full. and claim to
be stronger tonight than yesterday. No
excitement.
The gold speculation. which began jus.
before room, was the feature o: the day.
and ar a quarter 20 one o'clock the price
was i.-:.. and at one O'Clock heavy sales
We're made a. l!3',. The great necessity
for borrowing gold. and the tact that il
was really being hoaruet. created a large
de,nal,-, and drew the speculative teelin.
::om :Ac street in the way OF stocks. for
which there were two set. OF prices.
4.le excitement IL ;le Gold Room was in.
tense. ant! ioG a few minutes everybody
seemed wild. prices spreading TO l!3ls.
Gold closed a. Ia.
Ike general feeling amor: the brokers
appears - be more .lone:.! than on pre-
vieua days. though there are, Of course.
II lis !.aekest aspect. There was wild
eXcitem ent III the Gold Room to-day.
AT :hc Produce Exchange matters are il
gloomy condition. Prices CA the whole
are without material chan Sc; yet to sell
freely a large decline wollt be necessary.
The .irst failure az the Exchange occurred
ihi. morning. \ very respectable though
noc oae Of the largest hcus-s. whose credit
has hitherto been first class. has ceen forced
to slccUnb, in conse.. .gence OF trouble in
the export trade.
) I. M.-The foiiow:n, :.ce the closing
street quotations: Columbus. Chicago and
in.iara Central % Il y: Southern Gc!. a II:
Oaio and Mississippi; - /. y: Union IA
ciic i'i2 q ~ Western Union - 56: Pa.
cit: Nali Isl. 81: 81. joseph 20 q Il u:
N..bas! % Z Il: Ecie 5 q =: Harlem 10, a
la-: Northwestern :9 p II! Rock Island
$ J.. 3. 81. Paul, preferred. y,
The feature OF the day was th. gold
speculation. Immediately OF the announce.
in"nt o: the shipment from London OF
t-J3I. 'ph q heavy demand Tor cash gold
ai,s.. and il commanded one Ell ahth to one.
nat per day. The clearings Of gold by the
Exchange Bank was retarded by the re.
iu-ai o: two heavy sho:. dealers 10 pay the |
extreme rates necessary 70 make their ac.
count. good. hut Drexei. Morgan & Co. |
al dVauce;. :uJU.UDj n .o.i. the amour: IN |
dispute. 20 the Gold Exchange Bank. e1.
ahl!i-, A L - ,mp.ete clearance. and saving |
additional trouble 20 dealers. Greenbacks !
ooin!.!aLd a premium vi tour per cent over |
,e.t!tIet: checks. C.Le: ;a.. t..- there j. |
20 rate iaT money.
i..3 president ui "a: Ci.ay!r. House 20.
!:v appointed a COMMITTEE: ~ investigate !
!e condition 81 the bass and .ugges:
uct p'act!c@. :e.1c!us a. i. deemed neces.
aEv
Henry i'.w. s. Co in a circular % t'isi.
or! pU.dant. and deros.co., say: We
'rOrl-n - continue business as heretofore
- receiving speciG.! deposits in trust :c-
lew accounts pledged oIlr 10 payments
rawn against such new accounts; that we
- ,@',,.I!. ~. Nsa;iIn ~
1a,ze navren.. ,rn r,,a a. ~. SAM. .haIi
i, y.aiized unt;i the .n,4r. arn."nt of oI,-
v;s.ur, ;ntahtadna.. .Ia,t ha i;r,1;iotaf.
!t:!e-. .e!ES pd!t q. heretofore.
Washiuron.
N,.,g,.;c-,,v S.,,.an,,.e- .,c r.,..
4, T., ~ -. ";.- TO-. s''..
an,i1.,. '''' ''-'' ''''' '"'
Richmond.
E,.uvo.o. Septembe. 2t.---chc Tredc.ar