Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-09-27

C1tioo COAllHu5Ss very lew PARTIES Iaec
city money and no greenbacks are in circu-
lstion. ata me-, a =
Memphis.
MEMPHIS, Sept. 26-The financial panic
was not renewed to-day. At meeting of
stockholders of the First National, it was
shown to have abundance of fret class as
sets, and measures were taken to place the
bank on better basis than ever before.
Toledo.
TOLEDO, o., Sept. 26.-Our banks have
passed the day In good shape. Several Of
them are stronger than at any time since
the beginning of the run. The single failure
Of the private banking house of Krouse q
Smith has had less effect than was appre-
hended.
Cleveland.
l. CLEVELAND, Sept. 26.-There is but
little excitement among business men or in
financial circles over monetary troubles. A
feeling of confidence prevails, and there is
scarcely a doubt but our banks will 60
through all right. Savings banks have
adopted the sixty DAYS notice plan, merely
as q precautionary measure.
Jay Cooke & Co.'s EssfDsate-severaI
| Millions Surplus.
&PHILADELPAIA, Penn, September, 20.
A statement Of assets and liabilities of
the firm of Jay Cooke q Co., of Philadel-
| phis, New York and Washington, has been
prepared by them, which is to be submitted
to their creditors. The following is sum-
mary. Of liabilities, S7,e39, 400. Assets
bills receivable, b2uk insurance and other
stocks, bonds and real Estate, 1887 $40.
Loans to Northern Pacific Railroad Comps-
ny on $3,750,000 stock of the Oregon
Steam Navigation Company, $500, 900;
loans to Northern Pacific Railroad Company
on bonds Of company, S4,06S, 215; second
mortgage railroad bonds, stock, ETC., s., $780,
$3.50. Total, $15,966,2l1.
The above exhibit of liabilities is exclu-
sive of S1,70l,1 40, loans OF the
firm, which are fully secured By good
collateral. The excess of collaterals
on these loans has been estimated and in
Guided in the assets. The firm expects
soon to submit proposition for settlement
with its creditors which it believes will be
acceptable to the latter, although it will of
course require time in the conversion Of its
assets. The handsome showing made
leaves DO doubts of its ability to pay every
dollar of its Indebtedness, with interest, and
still to have a surplus OF several million
dollars. A gratifying feature Of the above
exhibit is the fact that although soma EN-
barrassment of the firm has been occasion
ed by its large advances to the Northern
Pacific and connecting roads which it vas
carrying during period of Unprecedented
money string ncy, its resources, outside of
these advances, are amply sufficient to Sc
cure all its creditors from ultimate loss.
Cincinnati Resolved to "Grin and
Bear the PInch.''
CINCINNATI, Sept. 26.-Tbe second day
under the new bank movement has passed
off satisfactorily. At meeting Of the
Clearing House Association held this after
noon after bank hours, the general opinion
appeared to be that matters were working
favorably. Banks and bankers all seem to
be thoroughly in sympathy with the plan,
and there is manifest cheerful APPEARANCE
in the expressed wish Of the majority in re-
lation to all details Of the movement. The
association adopted resolution which was
foreshadowed in last nights report. This
provides that all currency deposited hereaf-
ter may be drawn upon at the will of de-
positors. This makes for future deposits q
new rule from that applying to old ores,
ard will invite currency from many
quarters where it is now ly-
ing unused. All securities thus far
demanded by the committee in charge of
the matter have been forthcoming.
The genera! feeling here to-day is one Of
satisfaction in relation to banks. News
from Chicago had depressing effect on
Change, but didn't produce panicy feeling.
There has been but little doing in general
markets. Things are largely at standstill.
Its almost impossible to regulate drafts at
present, and in consequence the move
ment Of hay, products is almost at q stand
sill. Buyers are indisposed to make new
purchases, aad holders have no inclination
to throw stock on market which is not
prepared for them. Business men are rapily
as possible adapting themselves to the
changed circumstances, and the whole tenn
per Of thu people is 10 grin aad hear the
panic till confidence can be restored and the
block o. commerce relieved.
Atlanta.
ATLANTA, Ca, Sept. 26.-John q.
James, banker, who suspended, viii resume
in few days.
Montgomery.
MONTGOMERY, Ais, Sept. 26.-At large
meeting of merchants held to-day, it was
resolved to pay all maturing obligations as
promptly SIS the deranged financial situation
would permit, and parties holding paper are
requested to obtain an extension of it,
should it become necessary, and also the re-
quest is made of all parties abroad who hold
their paper. Resolutions full of faith and
confidence were adopted. Cotton coming
in freely, but not bale soll for want of
currency.
THE TURF.