The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-09-21
THE PRESIDENT IN TOWN.
Secretary Richardson to Arrive To-Day&
Great Financial Caucus To BE Held
in tho Fifth Avenue H0tcl-The
S44, 100000 Reserve Of Currency.

Secretary Rich rds0m to Arrive TO-Day-G
A Great Financial Caucus To BE Held
in tho Fifth Avenue H0tel-The
100000 Reserve of Currency.
President Grant, accompanied by his son Ulysses,
arrived at the Fifth Avenue Hotel at five O'Clock
last evening, and few minutes later ne was
shown to room SO, on the parlor floor. 1t Is re-
ported that the President came on in compliance
with telegraphc despatch sent to him by senator
Morton, OF the National Finance Committee, after
meeting with several bank presidents on Friday
evening" begging General Grants presence in this
city with reference to the existing financial trouble,
and to see whether means could not be devised to
stem the tide Of public disrust which has been en-
gendered by the crisis OF the past three days.
But few people in the hotel were aware OF the
Presidents arrival till about nine O'Clock, when
1t was bruted through the crowded corridors that
he was up stairs. The greatest interest was ex-
pressed as to whether 1t was merely an ordinary
visit which had brought him to the city, or whether
he had come to try and
ALLAY THE PANIC
The majority inclined to the latter belief, ands
having established 1t in their minds, they wanted
to know If Secretary Richardson, OF the Treasury
was coming on to meet and TO hold consultation
with the President and the leading fnanciers OF
the city, to see what steps should be taken under
the circumstances 10 prevent the further decline
OF United States securities and restore confidence
once more.
INTERVIEW WITH GENERAL SHARPE.
At nine O'Clock the HERALD reporter met GEN.
eral Sharpe near the Presidents ROOM and the
following conversation ensued -
REPORTER-Have you heard If Mr. Richardson ia
coming on to meet General Grant
GENERAL SHARPE had telegram from him
and 1t may safely be said that Mr.. Richardson will
not see the President tonight and, ergo, no hnan-
cial scheme can be discussed.
MR. RICHARDSON TO ARRIVE TO-DAY.
At ten O'Clock last night Senator Morton re-
ceved telegram from Washington, and few
minutes later stated to the writer that Secretary
Richardson would be here to-day and that he was
sorry he could not give him any Information about
their plans"
large number Of financial celebrities called
upon President Grant during the evening and ex-
planned their views of the causes OF the panic and
what should be done under the circumstances.
Among them were MIR. George Opdyke, OF this city |;
Messrs Drexel and G. W. Child, OF Philadelphia.
General Sharpe also paid prolonged visit.
1t Is believed on all hands that some action ON
the matter at issue Will be taken to-day, and that
o portion, If not all, of the reserve currency OF
50, 00O, 900 will be put upon the market.
EXCITEMENT AMONG THE STOCKHOLDERS
The excitement at the Fifth Avenue Hotel fairly
beggared description. The corridors were i'm
passabe. Some of the Respondent men prophesie0
that the Stock Exchange would remain closed all
next week. Others said 1t was the governments
duty to come to the rescue. The feeling as to
1t was reported that a slight run had taken place
on some OF the east side savings banks, and that
meeting of the presidents OF the savings institu-
lions was to take place to-day.