, 1873-11-01
The Chesapeake & Ohio Railroad Com.
pany in Default.
Stagnation Of Trade at Baltimore, Dos
ton, and Philadelphia.
Sharp Decline Of Stocks in Wall
Street.
NEW YORK.
Spkcial Dispatch to Ths Chicago Tribune.

npkc.at Uf6pdsch 10 iHe tHff6qo iFloHFe.
CHILLING FEAR.
NEW York, Oct. 31.-Deep gloom and TINT
1oHs Of confidence, which in Wall street ia in
variab!y the fororunner of O great disaster,-
such an ono as for days past haa been lurking
along tho financial horizon,-fell to-day like IN
enormous chilling pail over tho stroet aud quick
" routed tho little confidence that still reigned
in the minds Of the moro sanguino Bpoculatora
This was due to tho already long and rapidly
increasing category Of failures, Including some
Of the most prominent, aud, it WIS believed, the
aouadost moneyod companies and corporations
in tho country. Tho most wild and reckless ru-
nors concerning number Of commercial houses
that have thus far met all their obligations were
in circulation. Theso stories combined to do
press tho stock market, and when it waa reported
that prominent Vanderbilt house inBroad street
had failed, thero WAS still creator depreB-
Bion. Nearly evory stock in tho list dropped
from the opening to the end, until the fluctua-
tions wore from to 81 por cent below those OF
last night.
NOW STOCKS DECLINED.
Among those who bought aud paid for stocks
capital actually lost alreniy, SO far
value is about tlreo- -fifths on ST. Paui one-half
on Columbus, Cincinnati d Indiana Central.
Hannibal l. st. Joseph, Northwestern, and
Western Union; tTo-ffthB On Ohio d. MiBsi6-
sippi, Pacific Mail, Toledo i Wabash and Union
Pacific; oue-third on Lake Shore; one-quartor
on Eric and Harlem ; and one-tlfth IN Central
and Hudson. II the comparatively few who buy
for rotdy money arc SO seriously injured, what
must DO tho fate Of those unfortunate specula-
tors whose transactions Eero based upon moro
deposits to 10 per cent-aa margins and how
disastrous and widespread must be the effect on
moneyed institutions all o.or tho country, whose
capital and deposits were loaned out on margins
| Of 10@1t per cent.
Hannibal, st. Joseph, and Rock Islaud each 8;
in Central l. Hudson. 2s4; in Northwestern and
Pacific Mail Zach 1S4; In st. Paul, @, @.
} Z sas9 ss e7op of psr esnf sns esI on
wIdous the breach between debtor and creditor,
and intensif1os tho suffering and distress.
Had tho. market recovered few por
cont, and held tho recovery for few
days. many millions would have been quickly
cancelled, which must now be settled through
expensive and tedious process Of the bankruptcy
Law.
opened at 1089A, advanced to 108L, declined to
1886, aud closed at 10s1, on not very active
market.
THE TREASURY
paid out to-day, in redemption of $40 bonds,
$19, 900, and dlBbursed $44G, 900 On account Of
tho November interest, making total of 83, ,015,-
600 thus far paid.
FOREIGN EXCHANGE
WAS weak with strong pressure to sell. London
adyices wore more encouraging, 30 far as the rate
for money was concerned. the price In open mar.
gained eco, zoo on balance to-day.
MONEY
on call waa very irregular, aud has ranged from
per cent per annum to Il per cont commission
and interest. In mercantile paper tho rates
ato nominal.
TIE BANKS
continue to improve, and report further gain
Of s65o. .ooo in legal-tenders. Tho pooling ar
rangemont OF the banks terminates Tomorrow,
and there is little apprehension that trouble
| will result therefrom.
DngADsrurrs
Tho flour market opened quiet and firm for
shipping brands, and irregular and heavy for me-
was atoadior aud activo for low grades, lower
for medium aud high grades. Early in the day,
the inquiry for wheat was limitod but under tho
| favorable news which arrived from Europe later
in tho day, holders advanced their views los
cents on spring winter WAS held with atoadi-
| mesa. The demand was chiefly for export, but
partly to fill contracts and vosaols. Oats wore
| castor, and IN moderate demand for the trade.
| Rye romans quiet.
There was q moderate inquiry tor berth &C.
| eommodationB, with rates ruling firm, except
| for grain for which lowor figures we're accept
| ed. Thero waB fair demand for yesHo1a for
charter principally for those adapted to tho
| p1MINUr1oN IN BUILDING.
| From Htt !ye,o Yart World, Oct, 90.
II the bliglsfng efrocta Of the panic wore to be
summed up III very short space 1t could not bc
bottcr doMe than by making . few reieronnes to
tho records Of the Department Of Buildings for
past fow weokB. An examination OF tho books
Of tAat Department shuwA That tho work ol
ereotiLE now buildings and sopairlng old onas-
| al industry on which WAS expended tho sum oi
| 3Gd 9H1 711 f1l1f5ur ntnH unIttIiH nf 1RAt