New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-09-27
FINANCIAL UNCERTAINTIES.
MERCHANTS AT THE MERCY OF STOCK
BROKERS.

coNMERcE AND TRADE CRIPPLED-TEMPoRARY EX-
c,TEMENr CAUSED BY THE RISE OF GoLD-AMER-
lcAN PRODUCE RoTTING IN THE HARBoR ON Ac-
COUNT OF THE DEADLOCK IN FOREIGN EXCHANGE
-BRoKERs TRYING TO MAKE sETTLEMENTs-
CARIToN's DEFMCATIoN-THE UNION TRUST
COMPANY ENTIRELY SOLVENT.
Uncertainty. not excitement, characterized yes
terdsys proceedings in Wall-st The feeling In
6Dancial circles was much the same as on Thursday
except IN the Gold Room, where furry was occa-
stoned by an advance in gold from 11l} to 114l. IT
rs alleged that this advance was caused
in part by the manipulatons of a clique of opera
tors largely composed of Canadian capitalists, and In
mart bv the depreciation of certified checks. green
hacks commanding premium over certified checks
of from to per cent. Advantage was also taken
by those having money TO loan to exact from to !
Der cent per day for carrying gold loans The
large expectation of gold from London
by those interested in the shipment OF
Grain was eagerly discussed IN fnan-
rial and commercial circles. 1t was believed that 1t
would have the effect of relieving the market ma
terialy more especially it was thought that this
was only the beginning Of large flow OF gold III
payment for breadstufs, petroleum. and other pro-
ducts There are now in store at lake and seaboard
ports or in transit 22140000 bushels Of grain, and
Of this amount $4,000 are stored in this city and
Brooklyn, awaiting shipment The difficulty of nego-
hatng foreign exchange has the effect of preventing
the forwarding of any considerable portion OF this
.oek of grain to the foreign markets, where good
demand exist for II at remunertlve prices. The
brokers are loaded with exporters bills ntrnsically
rood because they represent an article that can be
exchanged for coin as soon it reaches tbeiother
sde of the Atlantic but for want of funds they can
40 nothing TO break this deadlock. The importa-
ton Of gold from abroad OF the release of currency
are the remedies. During the interval that must
eapse before the gold reaches New-York, it is be
Heyed that shipments of grain will be in good part
suspended
Gen. Hillhouse announced yesterday that he had
eceived no further instructions from Washington
Nth reference to the purchase of bonds. 1t is not
achieved that further relief can be looked for in this
direction The Committee of the Stock Exchange,
rppointed to devise measures for the clearance OF
he operations of the brokers during the few days
immediately preceding the closing of the
Stock Exchange, reported that 1t was adj
yisable for members TO settle their con-
tracts and margins among themselves as rapidly
as possible without recourse being had tothe Clear
ing-house; that the Stock Exchange be reopenedfor
business on Monday next and that the selling ont
of members under the rules be not enforced unul
noon of the following day. This was rejected by
the Governing COluullllte, anu duotucI pldh was
finally agreed upon, which the subcommittee de-
elined TO make public. The Governing Committee
have decided that the Exchange shall not be opened
until "a hours notice shall have been given the mem
bers The Loan Committee of the Clearing house
have issued an additional Sl,25O0OO of loan certif-
Gates, making an aggregate of $1s,OOOOOO thus far
issued
The dcfalcation OF Carlton. the Secretary of the
Union Trust Company, amounts 10 S4%6,JOO; the
excess of assets over liabilities including the capital
of the Company CS1,OOOOOOl, is $i,2177T7 "a. The
report of the Receiver will do much to relieve
anxiety in financial circles.