The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1873-10-16
NEW YORK.
The St0h % Trial.


Charles G. Hill testified as at the for
mer trial. He was subjected to cross
examination but rothing i'm portsnt was
elected.
Kate Newton, an actress, was buried
to-day. The funeral WAS largely at
tended.
The Free Religious Association met
again to-day at Cooper Institute, o. B.
Frothipgham ia the chair.
The Congress of Association for the
Advancement of Women met at the
Union League Club building to-day.
Julia Ward Howe, Celia Burl eigh, J.
b. Hoaker. C. A. Soule, Maria Mitchell,
Harriet Beecher Stowe and a number
OF others were present. Mrs. Liver
more made the first speech on the
necessity of cooperation among women.
A dividend of 4 per cent on New
YORK CENTRAL is being paid o-day at
the office of Duncan, Sherman q Co.
Walt street-Mors Failures.
Wall street opened comparatively
quiet this morning after the depression
OF yesterday, but feverish and excited
feeling followed, causing heavy de~
cline in stocks. The decline was attri-
buted to the reported defaleation OF
Chas. H. Phelps, Cashier of the State
Treasury, at Albany. and also by the
an nouncement this morning oftbe fail.
ure OF A. II. Perry, broker, and Gilman
& Son. bankers. Towards noon firmer
tone was impaired to stocks, with
partial recovery in prices, and the mar
ket closed firmer. Money during the day
was extremely stringent, governments
active, gold teverish and excited, and
exchange quiet. The failure OF Gil
man j. Son was caused by the non-psy.
ment OF collections due the house, the
depreciation oil securities and the con,
tinued drain OF deposits. The firm
concluded this morning to pay no more
checks at present, although Gilman
states that the house is perfectly sol-
vent.
1t was rumored on the street this
afternoon that the Manhattan Banking
Association was mixed up with the
State Treasury defalcation and this
caused considerable excitement. The
officers of the company state that they
are simply agents of the State Treasury
and have nothing to do with
the matter. They admit there is an
investigation going on but beyond the
fact that they have been requested to
send duplicate accounts forward for
purposes of assisting the Investigation,
they profess 10 know nothing.
The failure of Perry was CAUSED by
the decline in stocks.
The payment Of q dividend OF four
per cent BY the New York Central and
Hudson Railroads. amounting to
$36O,OOO began to-day and this endang.
cred the ,eeling on the 9Th. A good
many rumors calculated to neutrallze
the depressing effect on prices. were
also current. 1t was repcr ed
that Commodore Vanderbilt. drew divi-
deuds to day on forty millions New
York Central and Hudson stock; that
he sold Sl0,000,000 OF this stock to
German bankers at IS, and that he will
taks the proceeds and use them in
bnlliug New York Central, Lake Shore,
Western Union. Also that be will pay |
off Sl,750,O0O OF the loan which the
Lake Shore owes the Union Trust
Company, which will put the latter on
it's legs again. This intimation that
the Comadore is to become an active
bull, and that be has found means 10
do 80, helped upward the reaction in !
stocks.
George B. Grinnell & Co.. to-day {
filed q petition to be adjudged bank.
rupts. The usual warrant restraining all
persons from any interference with their
property, was issued. This proceeding |
and virtually terminates the
proceedings Of involuntary bankruptcy |
instituted by Henry Never. Judge
Blstchford this afternoon dissolved the
in bankruptcy against the
frm. These injunctions restrain the
creditors OF the firm holding collate,als
Tor their claims from selling the same.
The dissolution leaves creditors hold
ing collaterals free to dispose OF them
10 the same manner as if no injunction
existed, and releases, it is understood,
about 100000 shares ofstock.
A member OF the Governing Com
mittee OF Stock Exchange, discussing
the situation this evening, said be
thought all danger OF further financial
disturbance was now over, aud that the
banks have never been in so good con-
dition since the panic as at present. He
believed all the houses had succumbed
which were likely to, and that conf
deuce among business men would
rapidly increase.
Au evening paper 10 summing up the
situation says: AT the Clearing House
the returns OF banks this morning, show
au i'm portant gain in legal tender notes.
There is rs change in loan certificates
and there is likely to be no contrac-
ton OF them at present. From uptown
merchants advices to-day are good.
The large dry goods firms which iu the
general uneasy feeling have not es-
capped unfavorsble rumors are we arc
assured strong. Their collections are
fair and it they were not they have the
support o. the banks whose duty IT ia
to carry through mercantile firms which
are safe and whose oply embarras-
ments arise from the temporary disuse
into which ordinary methods of busi.
pess are thrown BY the panic. Atthe
PRopUcE EXCHANGES business is good. !
that done Yesterday in breadstufs