Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1873-09-26

] Is
and the market for stocks is confined to
1 bids and offers, no sales being reported
| thus far. Central, SO bid, so offered !;
| 74G76; Ohio and Mississippi, 2T629;
! 39G4O; Rock Island. Sc bid; Western
1O25aIO5; Wabash, S9,641; Hannibal
aud st. Joseph, 2i bid; Cincinnati,
/ Columbus and Indiana Central, 20 bid.
HOPEFUL FEELING IN PHILADELPHIA.
PHILADELPHIA, September 25.-A
more hopeful feeling exists here among
the merchants, and the prices Of goods
continue very steady. All the national
banks, savings banks and such of the
State banks as did not suspend, con-
tinue business in the usual manner. The
board of brokers has adopted a resolution
that until otherwise ordered certified
checks or due bills in any of the as
sOciated banks will be received in set
tlement of contracts between members
Of the board. A Washington dispatch
says that Secretary Richardson has
stated that it would be a good policy for
all banks to suspend further currency
payments. 1t is rumored that the Pres
ident has been advised to cali an extra
session of congress.
ENGLISH GOLD ON THE WAY TO NEW
YORK.
LONDON, September 25.-One hun
dred and eighty-fve thousand pounds
in bullion was shipped from Liverpool
for New York to-day. The daily NetUs
believes the financial panic in New
York will possibly lead to the resump-
ton of specie payment.
THE ADVERTISED GOLD SALES.
NEW YORK, September 25.-The gold
sales advertised will not take place to-
day.
Richard Penister, the Philadelphian
announced a short time since as having
won large sum of money in a foreign
lottery, has filed bill to have vacated
an injunction which prevents him
taking up his winnings.
Secretary Richardson declines to an
ticipate the payment Of interest on
bonds due in December and January
next.
M'CULLoCH's STATEMENT.
Mr.. McCulloch, ex-secretary Of the
treasury, in the course OF conversation,
said that the only course to be pursued
for safety now is a bold one to face
alike from fear or excitement. The sus-
pension Of Henry Clews d Co. regard
as very unfortunate. That firm / have
understood to have been a very success
full one and doing large business, and
in my judgment it would have been
wise OF its friends to have prevented
such an occurrence at all hazards. The
failure of one house Of its prominence,
does incalculable harm by weakening
the sense Of security in the public mind,
and men get to that stage of uncertainty
in which they say "ro whom dare We
lend now?n
TIE CINCINNATI CLEARING-H HOUSE.
CINCINNATI, September 25.-The Gin
cinnati clearinghouse association has
just adopted the following:
ReSOlUed, That, for the protection OF
our commercial interests, and for the
purpose Of preventing drain Of curren-
cy from the banks and bankers OF this
city, we do hereby sgree to adopt sub
stantially the plan adopted in New
York, viz: They will not pay out cur
rency on checks except for small sums,
to be optional with the banks upon
whom they are drawn, but they will
their hands, payable through the clear
ing-hOuse only,
This morning each member of the
clearinghouse association is required to
deposit such sum, or approved securi-
ties, as will at all times cover the amount
Of their clearings. Government bonds
are received at their par value. Railroad
and other stocks and bonds, and bills re-
ceivable are received at seventy-five per
cent. of the value fixed ON them by the
committee. Loan certificates are issued
by the committee, which certificates can
only be used in settling balances between
banks-not negotiable. The committee
appointed to carry into effect and super
wise its workings, are VIM. Hooper, r.
II. Springer, n. w. Scarborough, Jason
Evans and Oliver Perrin.
CAN'T GO TO NEW YORK TO CONSULT.
New YORK, September Pa tele-
gram from the secretary of the treasury
states that his official duties prevent
him from visiting New York and con-
sulting with the clearinghouse COM
mittee.
WASHINGTON CITY EMPLOYEES.
WAsHIN GToN, September 25.-The
employees of the several departments are
being paid off at the request Of Governor
shepherd, for the purpose of easing the
market In this district.
S25, 900 IN BONDS FOUND.
New YORK, September 25.-During
the examination this morning Of the
large safe Of the Union Trust company,
a box belonging TO the missing secretary
was opened and found to contain twen-
- =. N,ll
States bonds, which have been supposed
TO be lost.
THE CHICAGO CLEARINGHOUSE.
CHICAGO, September 25-The clear
ing-house association held an import
ant meeting last night 10 consider the
financial situation. After an animated
discussion, which lasted till near one
O'Clock, the following resolution, offered
by Mr.. COolbaugh, president of the
Union national bank, was adopted:
Resolved, by the Chicago clearing
house association of the city of Chicago,
that until further action, and In view of
the disturbed condition of affairs i'm New
York and other cities, and the difficulty
OF converting balances into currency,
and on the advice Of the bank exam
iner, its members be recommended and
authorized to suspend the currency pay
ments on any large demands made
upon them, either from the country
banks or over their counters.
a number of bankers opposed such q
course, claiming that Chicago banks,
being in a sound condition, could 90 on
paying, and thus aid general business;
but the resolution was finally adopted
unanimously.
THE SECRETARY OF THE TREASURY ON
THE SITUATION.
WASHINGTON, September 25.-The
conference between the attorney-gener-
al and the secretary of the treasury to-
day lasted nearly two hours. There
was o full and complete exchange Of
views on the prevailing financial
troubles and the pFopriety Of further
action by the government. 1t seems GER
tain that determination was reached
and concurred in by all present that the
government shall not use any portion OF
the legal-tender reserve for the purchase
OF additional bonds, although this re-
serve can be temporarily encroached
upon for the absolute wants Of the gov
eminent; but then not 10 any great ex-
tent, and not with any view to initiate
the currency; as the secretary, even il
forced by circumstances TO put out any
portion OF the legal-tenders beyond the
S356, 900, 600, will, as he did in the first
two or three months of his administra-
lion, reduce the amount to that stand
ard again at the earliest and most prac-
ticabIe time. The present IN lerstand-
ing Is that the department believes it