davidaulloa/AmericanStories huggingface dataset:
, 1873-09-28

espos III III ss profit. o0''? Tho sef saamots to
Of tho North German Line, carry but llttlo
grain. 4 largo amount OF tobacco and hardware
boon mado Tor October. and the Company has has
refused q large quantity Of tobacco. The Wcnor
aailod with full cargo, and will be followed by
tho Tanpa aud Main, each with flrst-rnto cargo.
a few contracts for wheat to fill up woro taken
by tho Ipman Lino at 1o11d por Guhlloi. Tho
stSamor h;, city of Montreal however eatlet to-day
coiycd at rates. Of Inst week. No decrease In shin
monts of grain is noticed. Tho engago1nontB or
most shippers extend to October. tho Civ Of
Chester, to sail next Saturday. is nearly full.
and tho Company has freight enough ahond to
mado no reduction. In freight rates. aud tho
AbysBinia sailed to-day wit|. 4 full cargo. The
stoamor Wyoming loft to-dny with a full cnrro.
No reduction was made In freight rates.
eomo prominent tinanciorR 1net last evening In
the rooms of the Mercantile Library Asnoca-
ton, aud litter consultation relativo to the prcs-
ont condition Of financial and commercial affairs,
adopted tho following:
Resolved That ali efforts should now bo directed
to tho support Of trado md commerce, an to pro-
noting their greatest possible efficiency In rarrying on
tho yast exchanges OF commodities Incident to our
ie.olred Thnt we recommend to .bnnks tho
maintenance Ut their union 40 happily begun,
by joint resouoa 10 scoun: freely psnenSa eamerssl
rapcr of Mnloubtotl character, which on liho ucca-
sons IN 1860 and 1861 ofectually mud PROMPTLY
TINT tho policy Of liberal diacolnti,g viii tnmc.
ifnsely restore tranquility to the p,bso mind AZ
Golfers Of tho associated banks tho $13,00opU0 Of
Brcenbacks paid out by the Government within tho
lnst fow days. IN exchange for Government bonds
which aro now boarded by savings banks and inli.
vidunig.
, 1873-09-28

in currency, aud Dir. s. u. Cobb deros.ted over
e200, 600 in another prominent bank. Such pub
llc~spiritcd and plucky citizens deserve Infinite
credit. II otliors wond put out their money III.
atcad OF boarding 1t, the stringency would soon
ceaso. Actions 1ilto those nle ,loblet mil do not
look like lack Of confidence In Chicago busi.
ness.
In tho liat of Directors Of tho Union National
Bank who pledged themselves az personally
lnbo for tho obligations OF tho bank tho name
Of Daniel Thompson, ono Of Its most respons-
bo representatives., waH unlntentionally omitted
III ycsterlays issue.
THE SUSPENDED.
Tho only suspension OF Chicago banks yester-
day WAS that of tho Third National, Every other
bank clsared on Friday passed safely through,
tho clearinghouse yesterday. Tho lInt Of 8,iB-
pended numbers six, al foilowB: Union Ma
ttolial, Manufactnrora' National, Second Natiou-
a., National Bank If Commerce. Cook County
National, and Third National.
LINCOLN PARK
whB crowded with peuplo listening to tho music.
and thcro was NJ many tcams and carrlngoa aa
Oh any other Saturday. This shows thnt tho
panic las not aeized tho people, whoso exemp1ill-
cation Of co'n11,on BonBo III tho crisis We havo
any people.
AN UNFoUNDED RustoR.
Tho r,tmor Oil tho street yesterdny that Field,
Letter d Co. lad tecaflod from tho railway dopots
goods once platfornlod fur shipment to country
purchasers WAS utterly uufounliot. To Tn11I-
uNE reporter Mr. Letter yesterday stated tlat
the tirnl wnH doing buHfncHg usual hnd refuB-
cd no shipments, discharged no employoa, aud
aaw no necessity for other measure.
, 1873-09-28
TOLEDO,

Special Dispatch to The Chicago Tribune.
TOLEDO, O., Sept 27.-The firm attitude Of
banks and business mon here yesterday, added
to the hopeful adyiccs from New York, produced
tho effect this morning OF partially clearing
away the gloomy feeling induced by tho Now
York crisis. and the failure Of Krause l. Smith.
Tho feeling everywhere became better and moro
sanguine; business revived considerably, and at
tho close Of banking hours tho various banks re-
ported fair number Of deposits. There Ia
hardly doubt but that tho crisis is past, and
that tho coming week will SEQ business Of all
kinds Increasing to the usual volume rs rapidly
Ms connections with New York can DO restored.
THE GRAIN BUSINESS
remains at q standstill, tho receipts being light
and ahipments confined to small lots for special
demands. The Board Of Trade continues its
sessions, but without transacting any business
beyond settlements and few options.
THE AFFAIRS or KRAuHE SMITH
are undergoing investigation, but without any,
thing definite being yet revealed. The estiulateB
OF their liabilities have increased considerably
with later developments. and 1t now seeuls
probable that they will not fall below $780,
goo, and may reach 100000 Considerable
Indignation is Expressed at one Of tho part
ners, who il popularity blamed with hav-
Ing made his careleHs easy-goiug associate
his own dupe, and by that means deceived tito
depoBitors as to the FIRMS real condition. On
the day previous to tho Suspension, tho hcavieat
individual depositor, who had $4,000 in the con-
corn, was assured that the bank was in better
condition than ever, aud making more money.
, 1873-09-28
PHILADELPHIA,

Special Dtapafch to The Chicago Tr{buns.
PHILADELPHIA, Sept. 27.-To-day there mas
tighter money market than has been experienced
since the present troubls commenced. and some
OF the mill aud foundry propriotors experience
great difficulty in procuring money enough to
pay their hands. The banks arc hard pressed
for money, and SOME fsw acknowledge that 1t il
only by the help of others they are enabled to
weather the storm. From careful inquiries I
learn that il tho atringenoy continues, large
number Of workshops, mills, etc., will stop next
ueok. It is almost impossible to obtain tho
money to pay the workmen.
called upon tho President Of the Central Ma
tional Bank, aud from him learned that ali large
checks now in general business were mel civ
certified to, this process making them, for all
mercantile PURPOSES, the equivalent OF currency
Ho also stated that oil banks
ARE DlscouNTINa FREELY,
and that there WAs Generally an ea6ler feeling
in banking circles. Tile Clearing IIoune, whiofRl
cortiAcatoa 10 help tho banks along, did
not commence tho issue until yesterday
m9snmE s1a III .,n and Sao since thet time about
from $5,000 to $4,000. They arc only used In
settlements between tho banks, and materially
reduce tho demands for currency.
JAZZ COOKE = CO.
Two orders Woro yesterday issued out of tina
United staten 'Distiiot Court in Bankruptcy toy
against Jay Cooke Il Co., roturnable next Nod.
tuesday, morning, requiring them to show cause
why they should not DO adludlcated bankrupta.
The first wss Mpon the petition Of tho Logan
squaro Building aud Loan Association,
sotting. forth that, OH tue 25th inst
they had Il balance of $1,000 with
defendants, and Oh that day ohook for $500,
drawn TO the order Of mud indorsed by tho Treas.
uror, Edward Wilson, VIII presented, dihonorod
ant protested, and on tho 10th Inst. defendants
unsigned all their property to j. D. Moorol1ead,
with intontion to defea. tue operation Of the
bankrupt law. The aecond order WAS upon tho
petition Of the 1lou. Samuel Josephs, which has
baen withdrawn to-day.
This morning tlere was
AN UNUSUAL 6oENE
Mt tho Board Of Brokers, brought about b,
Yesterdays oyonts, In which some of our leudiug
hunks were concerned, the toudency of Which
WAS to Htlll further Increase alarm and suBpeuuc
In financial ciroleB. The banks hold millions of
securities, the best Of oollaterals for moneys ad-
yaneed to brokers. 4 large amount Of these
, 1873-09-28
IN GENERAL,
AAN N0Af .G4&11Ae
TUE RECEIPTS OF CURRENCY

TUE AECKIFTH OF cUNlRNQY
since our last report, as shown by tho books Of
the orpress companies, amounted, up to mid
night last night, to nearly 100000. OF this,
nearly $500, 900 came by tho American Expross
Company, S2o0,00o by tho United States Express
Company, and $l76,000 (ostimatod) by tho
Adams E1presa Company. or this sum, proba-
bly, 100000 came after bank hours, 80
that on Monday morning the probable
ity Is, that the amount Of currency
to bo delivered by the express companies to tho
various money institutions and firms of tho
city will raaoh 81, 100000. Outside OF this will
DO the by no moanH uncomfortable addition
which will be brought In by speo,llatorH fronl
different parta, acting as their own exproas conl-
panios for tho occasion.
FuDL1o-HPInITED MEN.
We are Informed that MeBsrs, ]. ". Doano
Il Co., the well'known grocery Importing
hoase, deposited, yesterday, in the Mer-
chants Loan and Trust Company, tho
magnificent aum OF oysr $10o, 900
, 1873-09-28

heard that any other foundriea or rolling m,lla
intond following It's example. They all fear a
possible disarrangement Of tho market and lack
Of purchasers.
THE BTnEETs TODAY
presented their ordinary appearance, but were
little quteter. No signs Of excitement wore any
whore observable.
NO Hs1ALL CURRENCY.
The following is told ~ illustrating tho scarcity
Of small bills. Tho City Treasurer started out
this afternoon to obtain smallor eurronoy for
$1,000. which he had in thouaand-dollar bills.
Aftcr canvassing the banks md tho city dill
gently: ho returned, having succeeded In chang.
Ing. only ono thouBaul-dolfar bill for hundred-
dollnr bills.
CITY soR1r.
Tho, pronoaal Of tho city to issue s80Ot 900, md
probably $500. 900 III scrip meets with general
favor. The Council meets tonight. atid tlat
action will probably bo takon. Tho city scrip in
former yoars Inns crs111atcd at ita par value MI
through Missouri and Southern Illinois. Much
indignation ia Expressed Tint tho $4,000, 900 In
Groonbacks. locked llp in tho ii',-Ireasury horc,
canl:st DO m.dc available to w. I'll this volume OF
currency.
, 1873-09-28

CINCINNATI, Sept. 27.-rho anaucial situation
hero today appears to bo improved. At tlo
elose Of business an improved foeling was plain-
re d" Hon. George 7. Davis. by tho Chambor Of
commerce, commanding tho action Of tho Gin
cinnatt banks aud expressing confidence in their
management, and asdiug thom to extend alI
possible accommodation to the commerce and
manufactures OF tho city appeared III itself to
improve tho feeling Of tho members voting
upon it. During tho discussion OF tho
question, tile Hon. j. L. Kock, WHO waB the
autuor OF tho last resolution, spoke specially Of
the necessity at this tinlo of oil business mo1 aa
VOL aa bnnkers, exercising toward ono anuther
tho largest possible accommodation until tic
pinch WAS over. Tho expression of this sonti-
ment waB received with wArm applause.
Thore was no particular chauge u tho general
markets, aud thoro il 10 hope Of muci doing
until there are botter facilities for ofrecting OK
change. Still there isno panic III prices. NotliDe
~ actually pressing on tl.e nlnrket Tho banks aud
hankers generally report having passed through
tho u'.'1n satisfactory manner. Tho new mr.
ran:"tEunts worked moro smoothly tlan at any
time e.nce tho first step was taken. Some Of
the banks report having received nj mucl, c,,r-
rency as they have paid out, mud this notwith-
standing it was supposed this was to be- tho
pressing day of tho week, owing to tho largo
sums needed to pay the operatives in the mani-
lactor1eB. The manufacturers hayo generally
been supplied with funds to meet their immcdi-
ate wants. or course, they have beeu expected
TO draw Ito more than WAS absolutely required to
meet their necessities.
, 1873-09-28
MECHANICAL INDUSTRIES,

on the part Of the reporters OF THE TRIBUNE yes
terday failed to elicit any undue excitement
among the manufacturing interests OF the city
The report Of the interviews with the leading
convertera of the natural products into artificial
requirements would take columns, but the gou
eral and almost unanimous, expression may be
briefly condensed in the statement that not q
single factory has suspended, and only few
have decreased the number Of their workmen.
In every branch Of mechanical and manufacture
ing industry thore pervadoR wholesome spirit
of cheerfu]noss, and, whore confidence ia not
supreme,
norE 1a BuoyANT.
Notwithstanding fiftful rll1nors of suspension,
careful Inquiry has developed the fact that the
number of mon. tho mechanics. artisans, and
laborers who have boen thrown out Of situations
il exceptionally small. While there is no at
tempt to disguise the palpab1e fact that aome-
those whom in tho time Of prosperity might be-
fostered-haye boon discharged, it cannot be
said that tue pro ductiyo manufacturing wealth
Of the city, has been seriously decreased.
Had times been fluah, aud currency abuul-
ant, tho hour Of discharge would hayo
been longer delayed. But in no reasonable sense
has alarm caused tho diminution of productive
manufacturing industry.
THE TEMPORARY cURTA1LMENT
of expenses not absolutely necessary to tho de-
velopmont Of tue full measure Of ClieagoB in
duatrieB will undoubtedly result in individual
instances Of hardship, but 80 far tho measure Of
relief to capitalists has not grown into the prob.
ability Of taxation on charity, The number OF
men discharged from active employment has
been only enough to constitute small por-
centage OF tho hands employed, and the question
OF the reduction of heads and hands In pro-
ducttye work III aa much with the artisan and
lhborer as with the contractor md capitalist.
FROM PRESENT INDICATtpNA
there Ia no fear of loss to him who tolls. II the
Immediate wages Of his labor be not instantly
forthcoming on domand, his nkill and muscle ia
Accuululating savings and capital against the
day when the sure relief that must come will
give him a cash balnuco.
TO THE INFINITE CREDIT
OF Chicago's mechanics, and artisans, and labor
ers. it may DO said that, despite the storm OF
tical aud seuHlble Wow of the aitua-
tion, and, standing with their brawny
arms and able bodies, they bolster and Bupport
the fortunes Of those whose brains arc worried
end wearied In tho conjecture and calculation Of
future fortune,
4 FEW, NOT MANY
of Chlcago'a manufacturing and building can't
taliats and contractors have contemplated, aud
individuals hayo executed the iutent to atop tho
Industries. fearing temporary loss But tho
numbor OF those fa 30 inconsiderablo aa not &c.
riously, 80 far, to affect hor material devclop-
ment Should further disaster follow proscnt
disappointment, tho joint meetings Of employer
and employed will, II wholly conducted, prevent
idloneHs to other, and accure lifo
and profit to buth.
, 1873-09-28
ELSEWHERE.
A GENERAL REVIEW.

1uE IhoSFEtF HNIiuTESlN0s
NEW YonK, Sept. 27.-Tt is the opinion Of per-
Sons conyersant with f1nanciai movements that
tho prospect ls steadily Frightening. Tho banks
md savings institutions are paying out money
moro freely to meet labor pay-rollB, and tho
Government, It il atntod, offors to prepay tho No.
yember interest Of over $14.000.000 It has
been decided by tho Governing Committee to
OPEN THE sTocK EXCHANGE
GU Tuesday next. This action was precipitatad
by resolution OF the Clearing House authoriz-
ing nh unlimited 1ssue Of loau certificates. Many
were opposed to opening the Stock Exchange,
but after tho action of the Governors WAS matle
known, thoro WAS gouelal acquiesconce. The
Committee will, on Monday, adopt some
method in regard to tho closing out
of old contracts get unsettled, and will,
no doubt, give every man ample tin,o
to turn himself and mako good his obligations.
Outside quotations doubtless have had their in
Auonco in causing tho reoponing Of the Ex-
CHANGE for on the street man with hundred
shares of stock, under the panic feeling, could
depross tho ontire share.capital, and make an
unfair index Of what the stock could DO consid-
cred worth. It is urged that lonioncy be shown
to every member in need OF it, aud nearly all OBJ
legations can be mot. No stocks should be sold
out under the rule Tor many dayB, and in every
way facilitios should be extended to members
Brokers made
EXTENSIVE BErTLEsESTs OF CONTRACTS
to-day, and the successful clearing Of 5000
shares of Lake Shore by ono Of Yapdorbilt's
brokers advanced the prico Of that stock about
10 per cont, whilo other stocks have
generally risen from to per cent. Fol-
lowing shows tho prices current for tho lcad-
fur Stocks Wednesday, Snnt ~ thu t1av hnforo
Jay Cooke Il Co. failed, aud those current on
the street to-day
, 1873-09-28

The prieea given for to-day are the lowest
made, aid they are ,lnleasonably low.
THERE WAS 4 LARGE ADVANCE
on these prices When it was ANNOUNCED that tho
Stock Exchange would be oponed OIL Tuesday.
A. the auction OF typothccated stocks, to-day, tho
following sales were nude: 96 shares Cleveland,
Columbus, Cincinnati & Indianapolis KaiEroad,
%; 1G6 anares Delaware l. Hudson Canal Com
pauy, l04G0102}9@l0l loo shares Ohio Il
mississippi lluilrual preferred, GU 30 shares
Norris l. Essex Railsoad, SO; 80 shares Della
ware, Lachawanua l. Western Naiiroad, 85l5 !;
100 shares Union Pacific Railroad. ID; 200 shares
lantio i Pacific Railroad preferred, IL; 900
shares Chicago Il Northwestern Railroad pre-
ferred, G2}l to 6l16 $4,000 Union Pacific land
grant bouds, G3 10 III $4,000 Union Pacific in
gone 10 per cent houds, 81. Offerings of Lake
Shore and New York Central wore withdrawn
from sale.
THE nEroRTED FA1LuRE
yesterday OH the Produce Exchange Of Shot
we'll Il Brother proved only temporary. Extou-
slous we're immediately granted, and the house
house WAS reported in trouble, and a. q meeting
Of ita creditors it WAS decided to carry thom
through on an extension of its paper.
EXpOnTs.
Notwithstanding tho difficulty experienced by
shippers in negotiating blllA Of exchange the
exports by different steamers to-day do not
aeem to ba much less than the amount carried
boforo the prcBant financial crisiB. The quAu-
tity OF cotton shipped, howeyor, il not al large
az USUAL, and d largo amount was received direct
from Southern ports, aud Immediately trans
ferred to Liverpool vessels. The managers of a
fow lines, in order to complete cargoes, have
taken grain at slight reduction per bl,shol, but
tho general ratio for wheat il still l3@14d. 4
few shippers who had engaged freight room for
to-daye steamers find it impossible to pay the
rates demanded, md the managers Of the prin-
cipal llncs IT il said, III viow Of the panic which
has taken place siace tho coutractB. were made.
a faH f3 n fl-1}rso oraf11
, 1873-09-28
THE PANIC IN A FAMILY.

and PREDATORY notice Ia hereby given to persons
OF tender sonslbIltleH who feel for human suf-
fering In any form to pass 1t by, aud boforo
they read further to stop right here. Mr. Lolll-
pop Is tho gentleman under consideration. Tho
place and timo Of ILLS notoriety arc Of no earthly
consequence, aufl1ce It TO say that, several
yeara ago. le settled In Chicago, and by indus.
try accumulated 4 ittlo something, part Of
which he prudently invested In suburban lots.
aud the balance, amounting to s7o5, he plsosd
In 4 savings bank. 10 thought great deal OF
, 1873-09-28

Speetal Dispatch to The Chieu1o Tribune.
BosToS, Sept. 27.-At meeting of tho off,
GERS Of the Boston banks this morning, tho reso-
luton was taken to follow the course Of the
New York bauks and suspend currency pay
nionts. There waB but little discussion. It WAS
evident that when 90 many woro suspending, to
hold out longer would only subject them to an
embarrassing and dangerous drain. The step
waa solely measure Of self-protection forced
upon them by the action elsewhere. Checks for
small amounts for the current uses Of business
will be paid as usual.
THE SITUATION HERE
differs from tint III Now York in one particular.
There thoy havo pooled thoir RESOURCES hero
they have not. The resolution adopted at the
meeting was as follows:
WuEaEAs, The hanks in all the large cities In the
United States have deemed 1t prudent and exeden: to
suspend currency Payments for lrgo amounts; there
fore,
Rtsored, That the Boaton hanks, as n precautionary
n,easnre for themselves aud tho mercantile COM
nuity a,ld to prevent the consequent drain Of tho
currency from them, do from this date and until
further aetin,, n, aaopt the same measure.
{eSoreI, That Committee Of Five be appointed by
the Chair, who sha have the power to issue oan-cer
tihcates to the amount Of $4,000 0o0 upon nuhsta
York City.
Until yesterday 1t WAS confidently hoped that
VIC should ride over the panic without resort to
such measures, but the increasing drain OF cur
rency to New York necessitatod action, and the
resolutions were adopted unanimously. The in
terferonce with business brings the difficulties
Of the sltuation moro Immediately home to larga
classes thaD like proceedings elsewhere, but. on
tho whole, there IL AZ firm faith that We can hold
on aud Withstand general crash aB ever.
began is that Of tho New England Iron Com
pai,y at Hydo Park, Boston suburb. Il il eaid
that the suspension was caused through dis
agreomont Of the Directors, which resulted in an
, 1873-09-28
ST. PAUL.

Special Disuatoh to The Chicago Tribune.
sr. PAUL, Sept. 27,-Dusinoss aud financial
circles here arc still confident Of going through,
tho panic without failures, but were agitatcd
this morning by the rumored critical condition
OF o private bank, since contradictel
Car-load lots Of wheat sold here to-day to
millers for rs cents. but farmers generally arc
content to wait tho resumption OF regular buy
ing for the lake markets.
, 1873-09-28
shat nood be eaId ie, that tho tono Of oonverea-
@ aoa "As n! Strong and hopeful. There wAs not
ma man :. down In tho mouth" and there should
THE RAILROADS.

not be.
THE RAILROADS..
TUE CHICAGO, ALTON 4 ST. LOUIS ROAD.
y. Blackstone, President Of the Chicago,
Alton i st, Louis Railroad, on boing iutor-
viewed by reporter, stated that their
freight business had fallen on immensely since
tho sotting In Of tho panic. Before tho preaont
Excitement thoy woro running rs freight trains.
Whilo now they only run about 80 trains day,
This reduction has noccHaitatea nlroady tho dis
charge Of about 200 mon, aud, should tho panio
CONTINUE much longer, tho services OF many
others would have to DO dispensed with. Stock
shipments llad entirely coaBod and tho bustneBs
in grain and produce had greatly fallen OF. They
woro still bringing in about 900 carloads OF grain
day.
TUE MICHIGAN HouTuEnN.
@. N. Gray, General Freight Agent Of tho
Michigan Southern Railroad, stated that all their
larger shipments had been checked, bocauBo tho
shippers could not draw on Now York yet thoy
continue to run tho Same number Of trims as
before tho patio although tho trains nro much
sinaler. They haye not yot discharged my Of
thcir men and will discharge none unless tho
panic should continue for considerable length
OF ttmo. lie has no doubt that tho present
panic Is tho result Of roton state Of financial
affairs, and under 1t such panics may occur
again at any moment. Under tho pres-
ent system banka may suspend and resume
again at will, thus throwing all business
and commercial intorosts Into confusion. With
specie basis such acts would DO considered
acta of bankruptcy. Now was tho time to re-
sumo specie payment; tLore would not be
another such chance In fifteen years.
, 1873-09-28
ST, JOSEPH.

Special Dtspafch to IHe LAieago Tribune
ST. JOSEPH, No., Sept 27-l2;40 a. m.-Tbero
is entire acquicscenco in tho action OF tic
banks IN the partial suspension OF currency pay
Tested: Cattle intended for shipment arc accu-
nulating In all This section, and the busiueaa
IN all stock, especially, is greatly depressed.
None IRE going forward ut any price.
, 1873-09-28
NASHVILLE,

Special Dfsp.tch II TAc Chieago Tribune.
NASHVILLE, Tenn., Sept. 27.-TAoro Inns bcen
less monetary excitement hero, fOs tho size OF
the place, than in any other city i'll tile Union.
A moderate run on tho banks WAS chocku.l ny
tho adoption OF tho New York policy. Financial
matters arc quiet and oasy. Deposits iii heavy
al usual. The banks aro paying out money to
employers of mechanics and laborora to-day.
Tho ST. Louis & Southeastern. md Nashville
Chattanooga g. st. Louis Railways aro receiving
certified checks in pnynont os, freight. but tho
Louisville and Nashville Road il satisfied will!
,otliing but tho cRBl,. Eyoryho'ly Inns accepted
urbsd spirit.
Tho financial question t,ab boon lost IN tho
absorbing municipal election to-day. Our nios-
ut,antB arc sound. .....
yosterday oyor tho partial suspension OF tho
Nashville banks, but u rHu Was prevented W tho
banks of that place announcing to pay all do
"a. EkaA,,4h Ilta<.al