Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1873-10-03

Monday was carried through with q rtfsh
Government had purchased s10,0000O0 in
bonds, but this had not relieved the street.
Everybody had bonds, and everybody wanted
the cash for them. A run had been
made on the First National Bank Of Hoboken,
but up TO the hour of closing 1t had paid all
demands. One reason for the run was the fact
that IL had S207, 900 of its funds locked up in
the Bank of the Commonwealth, which had
, suspended. The President had reached New
York and had arranged for d conference with
The Secretary Of the Treasury and leading New
, York fuanciers on the following day. The
President had expressed full determination
to use the power of the Treasury to the eA-
tent of 100000 balance and S44, 100000 re-
serves. Among others the following addi-
tlonal firms had failed. Ketchum q Beknap;
E. G. Brodhead; Sake & Rogersj Taussig n
Fisher; 2. NJ. Meyers; Miller 4 Walsh;
Lorenz Josephs; Fearing u Dillinger; viii
liams & Bostwick. The extent of the
shrinkage in stock values for the week
ending the Goth had been, on some of the
leading lines, as follows: Harlem, 591d per
cent; Western Union, 80; Panama, 32; Wa
bash, %; Northwestern 10; Rock Island, 1919,
a total shrinkage, according to the best au-
| JnOrltles, OF over SlUO,UOO,OUO.
kilograms from Philadelphia, of the Goth,
state that since the preceding day better
feeling had prevailed in financial circles. 1t
was thought that the crisis had been passed.
The run upon the Fidelity Deposit had contin-
ued up to the time of closing the institution on
the Goth, and every claim had been met Dur
ing the day over S95O,OOO had been paid out
oyer the paying teller's desk. The Union
Banking Company had suspended. The fail
ure was said to have been bad one, and that
it would not be able to settle up at over 50
cents on the dollar.
San Francisco dispatches of the Goth say
that, so far, the Pacific coast interests had not
been compromised by the embarrassments in
the East. No trouble was apprehenped to
| general business, except the increased degree
of caution incident to such state of things.
A st. Louis dispatch Of the Goth announced
that the banking firm of Taussig, Gemp & Co.
had suspended, in consequence of the suspen-
sion of Taussig, Fisher II Co., of New York, of
which house it was a branch.
| According to a dispatch from San Francisco
of the Goth, fire had broken out in the Yel-
low Jacket Mine, In Nevada, In the 1900 foot
level. Six lives had been lost At last ae-
|
| A Memphis dispatch of the Goth says the
ravages of the yellow fever in that city had
been stayed somewhat. The disease had APP
peared in New Orleans, and the dengue or
break bone fever ragged also as an epidemic.
In shreveport the fever exhibited no abate-
ment. New cases were not so numerous, but
the ratio of deaths had been fully as great as
at any time since the appearance of the
seourge.
telegram from Burlington, Iowa, dated
| September 20, says that destructive fire had
broken out in the heart of the city at one
o'clock in the morning Of that day, which
swept over two squares before it could be
checked The estimated loss reached 100000.
The Grand Lodge of the l. o. of o. F., in
session at Baltimore, Md, adjourned on the
Goth, having first voted TO hold the next an
uual Communication at Atlanta, Ga.
News from Washington on the 21st was to
the effect that the Comptroller Of the Currency
had directed the collection paper of the First
National Bank of Washington to be deposited
with the National Metropolitan Bank for col
lection.
The result of the conference held in New
York on the 2lst, between the President and
Secretary of the Treasury and leading finan-
cers, had been the issuance of an order
directing the purchase Of all iye-twenties
offered at private sale. 1t was thought that
this measure would release S2O,OOO,OOO to
S25, O0O,O 900 greenbacks, without touching the
reserves.
The bank statement for New York appeared
on the evening of the Goth. From that it ap-
peared that they had sustained loss of ST.
$40, 200 specie and 81, 400, 800 legal tenders,
contraction of So, ia, 800 in loans and 50, 9,27,-
400 in deposits, during the week ending on
that date.
In anticipation Of run upon their institu-
tions, the Inter OcCdn of the 22d says that the
Presidents of the fourteen savings banks of
Chicago had II conference on the 2lst, and
mutually agreed to hereafter insist upon
requiring thirty days notice for the with
drawal of deposits, according to their re-
spectiye rules.
An Augusta, Ca, dispatch of the ODD says
that on the 18th a terrific storm passed over
Florida in the vicinity of Tallahassee. A large
number of dwellings had been blown down,
and the crops in all that section ruined. Three
or four lives had been lost, several persons
persons injured and a large number Of cattle
killed. The town of st. Marks had been COM
pletely washed away, only two houses being
left standing, and twenty families had been
made homeless. The town of Newport had
also been swept out of existence.
telegram from Philadelphia, of the the
22d, says that the financial horizon had a bet
ter and clearer outlook, and that by the fol-
lowing day matters would resume their nor
NAL condition. The Citizens, the Iron, the
suspended, but arrangements had been made
to enable them to resume Immediately.
A New York dispatch of the 22d says that
the financial atmosphere had become
much clearer, The business Of the day
had developed remarkable strength in
the banks, only two of them
finding it necessary to call for loan GER
tifcates at the Clearing House. The Stock
Exchange had not been opened, though set
Elements were making on generally satisfac-
tory terms. 1t was thought that business in
the stock line would speedily be resumed.
A Washington dispatch of the 22d says that
the President and Secretary Of the Treasury
had reached that city. The President felt
confident that the right method had been hit
upon to afford help from the Treasury, and
the general conclusion reached by the informal
interchange of views was, that If further help
appeared to be needed it should be given so
far as it was possible for the Treasury to act.
1t had been decided TO send S20,OO0,0O0 to
New York, to enable the Assistant Treasurer
in that city to buy all the bonds that may be
offered.
In Chicago, on the 29d, the impress
sion prevailed that the worst had
been reached. Money was very tight,
but no further failures had been an
nounced. For the first time in the CONNER
cial history Of that city the usual order Of
things was reversed in prices. There was
scarcely any dealing in "options" in the Board
of Trade. Cash wheat sold at $l.05, while
seller October ran as high as Sl07 to S10715,
"Had 1t not been for the panic" remarked a
leading dealer to areporter, "before the month
closed the difference would have been greater
the other way"
I'm the 00d tho presidpnt annOinted Oscar