The Rock Island daily Argus. [volume] (Rock Island, Ill.) 1872-1873, 1873-09-25
TEL EGR.ALPE-HETC. 7
Continuation of the Money
Panic.
Another Republican De-
fau1ter.
Crop Report for September.
Mexican Marauders.
Shocking Suicide.
Crop Report for September.
Mexican Marauders.
Shocking Suicide.
Other Items of Interest.

New YORK, Sept. 24-The Governing
Committee decided not to open the Stock
Exchange to-day. No bonds were offered
at the sub-Treasury up to 1880 A NJ.
The feeling on the street is rather nervous.
The brokers congregated IN front of the
Stock Exchange, but are doing little or no
business. A meeting of the bank Presi-
dents is now being held to consider the
measures to be taken during the present
emergency.
The money panic has blocked business.
Shippers experience great dlfhculty IN sell
ing any exchange. and there Is not enough
doing at the Produce Exchange to estab-
lish prices Cash buyers can obtain mate
rial concessions. An effort is making by
the sub-Treasury to distribute the green
backs as much as possible, and no more is
being supplied to the Savings banks than
their needs require.
At meeting of the bank Presidents,
each member was appointed committee to
ascertain where ten millions OF government
money or any part thereof can be purchas-
ed on account of cash banks as whole, and
sold to the Treasury, any loss accruing |
thereby to be sustained by the banks ac-
cording to their deposits. The committee |
requested the President and Secretary of
| the Treasury to anticipate the payment OF
1 the bonds due January next.
Howes & Macy have suspended. This
is the first effect of the suspension yester-
dav of Henry Clews & Co. Mr.. Macy
said the only explanation of their suspen-
sion was that which applied under exist
! 70 oil firms having n
large number of depositors such houses
must SUSPEND: his firm must yield to the
inevitable result of the present financial
alarm. and would resume when quiet was
restored.
The sub Treasury has bought this morn
ing almost one million bonds The bank
Presidents have decided to issue another
ten million of loan certificates.
The Clearing House Banks at meeting
to-day, resolved not to pay out any more
currency, but to certify>all checks paya-
BILE at the Clearing House only. This Is
intended to prevent a lock up OF green
- backs.
t A committee of the Stock Exchange to-
, day sent the chairman Of the clearing house
committee their views as to the proper
course to be pursued by banks to save
S themselves from future complications to
q enable the Stock Exchange to resume op-
a erations with safety to the banks, them
selves, and to those whose interests they
= represent The committee say The
I true plan in the present emergency, In our
opinion, is. that those banks who were con-
tent to make clearances with each other,
= should, to the extent Of their associated
o capital, guarantee the payment of their
/ checks certified by banks allowed to enter
e into the clearing house.
:, Gen. Hillhouse says he has exhausted
e his limit and will make no further purcha
ses tomorrow of fve-twenty bonds until ht
receives further instructions from Wash
70 ington, having already paid out the Sl2,
y 900, 900 as authorized.
PHILADELPHIA, Sept 24-No failure
lie are reported at Allentown or Harrisburg
- Pa, or Trenton, n. j.
tn Brown & Gray, bankers at Wilkesbarre
- suspended this morning.
BALTIMORE, Sept 24-Brown, Lancas
en- ter & Co, well known bankers and broker
in this city, and the agents of the Chesa
peake L Ohio railroad having branc
houses in New York and Richmond, su:
pended this p NJ.
WASHINGTON, Sept. 24.-The Freed
ID mems Savings Bank to-day determine
that it will require sixty days notice frol
depositors of their intention to withdra
money.
u RICHMOND, Sept. 24-The city of p
10 tersburg had over $500, 900 in the suspend
IL ed banks of that city.
af McIlvaine q Co., of Petersburg one
IL the largest commission firms in the Stat
-, is reported suspended.
u The Directors of the Citizens Bank
tbo Petersburg, meeting yesterday, decide
an to suspend to-day.
nm The Dollar Savings bank closed IL
of morning, and Isaac Taylor and William
are bankers, have suspended.
bje A meeting of the Merchants & Manufs
rol turers to-day, pledged themselves to a
'0' stain from running on banks, and to conf
rr- themselves to strictly regular and neces:
ock ry checks and drafts.
ohn CINCINNATI, Sept. 24.-There is
change here ip the condition of fnanc
. affairs. The banks are discounting sp
ingly and are still pursuing a policy Il
will fortify them.
h CHICAGO, Sept. 24-All our natio
banks made their clearings this morni
B. F. Allen, President of the Cook Coul
National Bank, states that his institut
has this far honored promptly every
QUESTION for currency. There are rum
again afloat of the probable suspension
leading private banker and real est
operator.
SALT LAKE, Sept 24-The fnan
crisis in New York has not affected
TIT situation here In view of the possil
ties, several English companies have
.,o-. tered assistance.
LONDON, Sept 4-The house of Gle
ct Halbicht 4 Co. have decided to suspe
- A dispatch from Berlin announces
Ca failure of bank in that city.
w. The 9l3S,000 drawn from the Ban
England on balance to-day, was for S
ment to New York; f20,000 in additio
the above amount was also shipped to
rrw same place to-day.
|vu WASHINGTON, Sept 24-The Secre
lOU of the Treasury this morning suggeste
the President that the purchase Of b
Aoiiity now being made should cease when
twelve millions have been purchased.
says the Treasury cannot furnish al
nc currency that frenzied people may '
10 and that the Treasury must be kept st
so that 1t may be in condition to 9
commerce after the present financial
passes.
Commissioner Douglass has receive,
formation of the defalcation of Coll
IL. Wediner, of the. Second District of
bama, at Montgomery The defalcat
supposed to be about $4,000. o
s # 4: 8 s: il: e & .:,:%. :.
!. an average of 95 for wheat as whole,
-, the area is larger than last year. I'll
erages of Illinois and Iowa differ but
ALL from 1872. The aggregate crop is
and the quality generally superior.