The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-09-26

J
h,y cotton, The First National Bank paid
ont os usual. and there appears to be no Sc
rio,s run on 1t. The president Will pay as
long as there is dollar Of currency In the
wants. There Is confidence that 1t Will
| weather. the storm. The suspended banks
have ample assets, and will meet every dollar
| of their liabilities. <.,g..c, -.
"A meeting of merchants has requested the
banks to issue some medium TO DrloSe over
| the present crisis. -.
The banking house Of John J.,Conen mas
suspended. Assets ample. 1871
a.. ATLANTA, GA.
ATLANTA, September %. - The Dollar
Savings Bank has suspended. Its securities
are ample. =. r. .-.~
- SELMA, ALA. ..>- Az
srrN.. Sentember 25.-The Selma Savings
Bank has suspended. The assets are believed
to be ample. =. .........-..- a-......,s..
: ! CHARLESTON, S. C. ~
CHARLESTON. September 25.-No run on
the hanks. The Freedman's Bank eXacts
sixty days notice. Other banks pay rs
usual. ''
-. - NEW ORLEANS. ~
New ORLEANS, September pa meeting
of all the bank presidents except Two re-
solved to pay no checks of over 500. Larger
checks will be certified. This lasts thiftv
days. --.-...,-- 49,, ,,-.... -.
CINCINNATI. -. ."s.
C,yc,SSAT1, September 25.-The Cincin-
natl clearinghouse Association has just
adopted the following resolution :. '' 80.
q" Resolred, That for the protection OF our
commercial Interests, and for the purpose OF
preventing drain of, currency from tue
banks and bankers of this city. We do hereby
agree to adopt substantially the plan adopt
ed III New York--yiz.: they will rot pay;
out currency on cheeks except Tor small
sums. to be optional with the banks upon
whom they are drawn; but they VIII certify
checks drawn on balances I'D their hlnaS,
| payable through the clearinghouse only"
Each member of the Clearinghouse Asso-
cation is required 10 deposit such sum III
approved securities rs will at all times cover
the amount. of his clearings. Government
bonds are received at their par value. Roll
| road and other stock and bonds and bills
| receivable are received at - per cent. OF the
value fixed on them by the committee,
| which can only be used in settlement. BAL
anees between the banks are not negotiable.
Matters were in condition on2Ghange TO-
| dav to render it difficult to furnish quota
| lions There was no ranicky feeling what
I over. but there is a general feeling 10 staiiu
| still on the part of buyers ana sellers OF eve
rrthinp The action of the banks here was
Generally unexpected. The discussion OF
| h;ss,Ibiect consumed time. There are some
who believe; the course not wise one, Dlt
the prevailing opinion is that il was pre-
ca,t;ionary measure, justified by the obll9a-
lion which the banks owe to the general
business community.
MEMPHIS. b.:
MEHruIs, September 25.-The First Ma
tional Bank of Memphis has suspended.
Ldter.-On account OF the monetary panlc
and the run on all the banks, TWO OF Whlch
have suspended, business is almost eptlre'y
suspended. .ss...
ST. LOUIS. ~-,-, e..
ST. LOUIS, September 25.-It was decided
last night at meeting OF brokers 10 sus
mend the payment of checks or drafts, either
In currency or exchange, until the excite
ment in the East subsidies. and the former
condition of the markets is restored.
BOSTON. -. ,
BosTos, September 25.--The course oiithe
banks here is simply conservative. Loans
are reduced, but the urgent wants OF bust
ness were met. .-.-.
NEW BRUNSWICK, Nj.
New BRusswIcE, September 25.-The State
Bank of New Brunswick has fnlled.
DETROIT.
DETROIT, September 25.-Two bankers
| have tailed here.
FURTHER FROM CHICAGO. a..
Chicago, September 24.-Althoush the
| day has been very quiet on Change, ana
prices of all grains have declined. there has
| hecn a marked absence of excitement ana
| continued feeling of confidence on the part
of nearly all the members of the Board OF
| Trade. Last evening there was some aslta-
ton of proposition to close the Board lor
q day or two, hflt the movement amounted
10 nothing.
The Board of Directors recommended to
| the members that business he conducted Oh
ms conservative basis as possible ana ehorts
| be made to adjust outstanding trades inalu-
| RING the present month on an equitable Da-
sis that iran sections be limited'to the set
Element of outstanding CONTRACTS, and sales
| of propertv for cash, and that Ill ali transac-
tions liberal and reasonable confidence De ex-
tended where the same would under ordt-
| nary circumstances be proper. Tile recon-
mendations were received with great express
| Ions of favor, aud have been followed with
! great uuanimity by members OF the Board.
so that there will by Tomorrow night be
very few outstanding trades to settle. There
| are now fewer outstanding trades 10 scste
than ut apy time since the fire. ,.aS ...,.
Holders of cash grain. are lndisposed to
| sell at present prices, and this, together with
an inability to negotiate exchange, prevents
the filling ofIarge ordersier grain new here.
| There is Il general feeling Of relief that the
| day has passed in New York so satisfactorily,
| and renewed confidence in the ability OF the
banks aud merchants OF Chicago to come
through all right. There have been no
failures of merchants or grain dealers. The
banks all went through the clearinghouse
to-day in good Shape, and there is almost 4
universal feeling that the storm has passed
by. g.. - .'@. 49,
'CnrcAGo, September 25.-The Chicago
clearinghouse has adopted the following
resolution: ..-', .... >es. -,
" Resolre1', That until further action, and
| in view of tue disturbed condition OF affairs
| in New York and other cities. and theidlifi-
Guilty in converting balances into currency
AID Oh fhe advice of tire bank examiner, our
members he recommended and authorized to
suspend currency payments OH ang>larSe de-
manCs made. upon them, either from the
country bapks or over their COUNTERS" -: -.
.... -. >s.., tBy NALL. -, ;-,..rss,
| :, = . 49,, BALTIMORE ~: ~
BROWN LANCASTER 4 .co.-coMMENTs
OF THE PRESS UPON THEIR sUsPES-
sIos-sTATE OF TRADE, ~.4EIr ~.
..u,...-.-.,.. baltimore sun, c5th.I = -
: The only Suspension is that of private