Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1873-09-27


nothing was done. Many of the regular
banks have so far done their usual business,
paying sll checks presented, while others
have conformed to the rule adopted last
night and paid only small amounts. Most
of the saving Institutions have been run
upon by the smaller class of depositors,
whose demands have been met in most
cases, but some banks have paid only twen-
ty five to thirty per cent CT deposits. There
has been no excitement, however, and when
the situation has been explained to dep )sit-
ors, the majority of them have been salts
fed, aud many left their deposits untouched.
1t is the general belief that the storm will
be successfully westhered, and that the
banks and business men viii come out
whole.
The Mayor sent message to the City
Council, recommending, in view of the fact
that the temporary Suspensions have locked
up the finds of the city, thai treasury war
rants or tax certificates to the amount or
100000 be issued 70 pay the expenses OF
the city. An ordinance for such issue was
introduced by the Committee on Ways and
Means, and win pass without opposition.
~ Atchisen, Haas.
ATCHIsoN, Kas., Sept. 26.-The banks OF
this city are doing business as usual, and
declare they have no intention Of suspend
ing;iare all well supplied with currency,
and ready for any emergency. Several OF
them kept open till P. N. to-day. There
was no general run Oh any Of them, and
only few depesitors withdrew their money.
The universal feeling is that the banks are
sound. The Savings Bank had greater de-
mands on it than any, but met them all
romptly.
Louisville.
LOUISVILLE, Sept. 26.-The Courier
Journal, tomorrow, will contain interviews
Of its renorters with leading tobacco, cotton
and flour operators. The feeling is one of
security generally among tobacco men.
European buyers here look for difninua-
ton of foreign orders, owing to the diff
Guilty of negotiating foreign exchange,
and the bringing down of business to cash
basis. Money gives banks and sixty day
paper men some trouble with lower rates
on stock. Spectators in tobacco are driven
of, and the most experienced in trade look
only for q temporary structure.
Prominent cotton men are of opinion that
planters viii experience delay in getting IF
their cotton for lack of cash purchasers, and
cotton is used as currency declines. The
situation is as follows; A temporary rise
in cotton is expected on account of planters
holding it back, but a close money market
will ensure closely picked crop.
Indianapolis Adopts Loan Certificates
for Two Days Only.
INDIANAPOLIS, Sept. 26.-The financial
excitement still continues, but in 3 much
mider form. This indianapolis Clearing
House, at meeting this morning, resolved
to adopt for two days substantially the
same plan adopted in New York, Chicago
and Cincinnsti. 1t is hoped by that time
confidence will be fully restored. The run
still continues on Ritzinger's bank by class
Of small depositors, mostly Germans, and
their claims are being paid in full as fast SIS
presented. Some few deposits are being
withdrawn from other banks, but business
is going forward in the usual manner.
Later.-.AIerchants Taking Certified
Checks for Goods.
The panic of this city has entirely disap-
peared. At the opening this forenoon there
was slight run on Ri:zinger's and Sharpe
q Fletcher's banks by small depositors, but
all demands were promptly met without re-
sort to the rule adopted by the Clearing
House last night. Nearly ell the banks re-
port that the deposits have been larger than
the amounts Withdrawn to-day. The saw
ings banks met all demands on them
promptly, and, like the other banks, their
deposits have been in excess Of the amount
called for. There is general Impression
that Wooden, Webb & Co. will resume bust
ness in few days. Merchants are adver-
Using to take their certified checks for
goods.
Railroad Aid Invoked.
At a meeting of the Board of Trade this
afternoon the following resolution relative
TO eastern bound freights was adopted:
Resolved, That the Board of Trade re-
quest the trunk railroad lines to the East to
reduce their rates on fIst-class freight to
As and so cents to New York and Boston,
and to other cities of New England in the
same proportion.
Council Bluffs, IOwO.
COUNCIL, BLUFFS, Iowa, Sept. 20
Financial matters remain quiet here, though
considerable interest is manifested concern
ing the progress and result of the panic else
where. A few depositors withdrew their
money from banks to-day, but nothing
like run was made, or is anticipated. One
bank at the close of business this evening
had on hand nearly 81 900 more than when
it opened its doors in the morning, and
several other banks had q similar expert
cree.
Savannah-Co-o OF Merchants
and Bankers.
SAVANNAH, Sept. 26-The Oh mber of
Commerce held an adjourned meeting late
last night to receive report from their CON-
mittee that the banks and bankers had
adopted the following pream le and reso-
luton: -
In view of the unprecedented panic pre-
vailing in New Yors, and affecting all parts
of the country, rsralyzing legitimate bust
L ess; and for the purpose Of protecting the
commercial interests of our community and
enabling the banking institutions of the city
to furnish the facilities essential to forward
ing the crops of the country with safety to
all parties,
Resolved, That the banks and banking
houses of Savannah will only meet the de-
msnds OF depostors by cerlifcations and
checks to be used as The necessities of the
holders may require until the temporary
difficulties are removed and until exchange
can be negotiated or currency be received
to move out crops.
The banks to-day are acting according to
this resolution.
BRItimOre-A Leading Stock Broker
Fails.
BALTIMORE, Sept. 26.-Wm. Fisher and
Sons, who are among the leading stock
brokers of this city have closed their doors
aud say they have been forced by the de-
linquencies of customers to suspend bust
ness untilthey can collect what is due.
They expect to pay every OBJ igation in full,
and only ask short Indulgence.
Washington-The Force of Circum-
stances.
WASHINGTON, D. c. Sept. 26.-Font,
Washington 81 Co., have posted notice on
the closed door of their banking house TO-
day saying; eve are compelled to suspend
for the present."