, 1873-09-28


SpeeiaE Dispatch TO The Chicago Tribune.
ST. LOUIS, Sept. 27.-The Committee on Collat-
eral. appointed by the associated banks mot at
an early hour this morning. and continued thoir
labors until night. After separating, the Chair
man told mo that about fifty banka ind put up
tho requisite amount, and only two or three re-
mained to be passed upon. These, however,
were sound, aud would be favorably reported on
at the next meeting OF the Committee. The
$500
CLEARINGHOUSE CERTIFICATES
will be printed aud leady for issuance pro rata to
n individual sh;4 a., banks BY Monday. i cannot
tul to-day than they we're yesterday. To-day
has been rather a day Of waiting and expecta-
tion than of business, although to the eye of tho
casual observer things seemed to go on about as
usual. Little really can be done in tho way Of
exchange until the Clearing House certificates
arc in tho hanls Of the bankn, aud thoy begin
using thom. To the uninitiatad the financial
machinery seems cu1nbrous aud uuwieldy, but
1t was the only means possible for the carrying
on Of business, and the beat iB hoped from tho
EASTERN EXCHANGE
is in great demand but 30 scarce az to be
almost unattainable. A merchant wanted New
York exchange to-day to pay d deot Of $4,000
maturing in Boston, but lie had not obtained it
up to late hour, although lie had tried dozen
banks. Tho cashier Of one Of the atrongcst
banks Ia st. Louis made tour Of tho nlty in
esodod in obtaining SD, 900. !Fho baIanoe2a with
Eastern correspondents all having been ordured
homo, our banks have nothing to draw on, and
can have nothing except what comes in
Z Rasw ssdns cs way until produce 1gns ov
change in tho existing state Of things can bo ex-
pected before noxt Tuesday or Wednesday, by
which time it will DO determined
WHAT THE BANKS CAN DO
mi h HAN Atp rly1r &tSn 1tnpsn
House certificates. No timid depositor has
drawn dollar from any bauk to-day, SO far as
known. but, from the quiet appearance Of the
savings banks. it would be Inferred that small
depositors have generally kept their saturdays
wages in their own pockets.
THE BoATNEN sAv1N0H INSTITUTION
has openad two accounts with its customers--s
certified check account aud currency account,
the last Of which will DO managed according to
their own discretion. Several other bauks have
adopted similar plan. AL the bankers have
talked confidently, and never ceased to oxpross
the opinion that tho hindranco to business
would
ONLY LAST FEW DAYS,
and that currency for ordinary busineaa Uses
would soon bo AZ abundant a. erer. There is
not the slightest trouble among the jobbers a.
yet, No firm Ia known to be weak, aud nobody
anticipates
ANT FAILURES AT PRESENT.
Country customers are in town about az usual
at this season, and purchasing al much as ordf-
narily, and not asking any longer credit. Samuel
9. Davis j. Co. arc the heaviest dry-goodA mer-
chants in St. Louis. They say that
AS LARGE a DAYS business
IS they have ever done waa done one day this
week, and that this weeks aggregate busineas ia
quite as groat az that Of any similar week IN
former years. What is true Of tho dry-goods
tobbing trade Ia equally true Of other jobbing
interests. Mr.. Davis says 1t Ia too soon to
Judge OF the effect Of tho now style
Of banking on the country. II tho
plan is carried out for only thirty days, he has
no doubt that everything will como out oil right.
II it lasts much lopgcr, there will be danger Of
fAlureB. Everything now depends upon tho
RESTORATION OF FINANCIAL HEALTH
In New York.
Business transactions on Change were to-day
about AZ usual. The produce dealers arc feeling
the trouble moro seriously than any other clpBB
Of busineBs men, Grain and -four are acou-
mulatlng on thoir nnnds, and not passing of
Eastward ~ whom trade il In q normal c0udl-
tlon,
THE EMBARGO ON FLOUR
will necessitate the stoppage VI q fav Touring.
mills, though most OF tlem 1t Ia thought, viii
sr!nd on until tho trouble IL over, The Atlantic
rlouEing-hiill will stop ut IA O'Clock Tonight,
aGfotIanth arc beginning to complain that til,
railroads are not sufficiently conslerato OF theil
hecesHitleH alnce the panic commenced.
FREIGHT LIAlILITlRa
III ~. Louis have ruin up to ~ aggregate OF
nearly halt million dollars, and ttcro is II"
money to pay thom, although tho Railroad Com
panieh insist Oh having currency.
MANuFAuTuRERB
arc becoming extremely sensitive In regard to tue
situation, saying they will not be hblc TO got !
currency to psy their hands. The Western pays |
OF lts hands and stops On Monday. haye not 4