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ELSEWHERE. Viewed From Chicago. [Special Telegram to the Globe. CHICAGO, May 16.-That New York's financial troubles are not yet at an end is plainly apparent. Every speculator on 'change governs his operations closely according to reports concerning the eastern situation. Although a better or more favorable time for a panic here could hardly have been chosen, nobody is particularly desirous of courting anything of the kind, and therefore every operation is based on something that will aid in protecting Chicago. The private wire owned by Messrs. Schwartz & Dupee was busy this morning asking for and transmitting the latest developments on Wall street. From this source it is learned that the morning found the street in a cheerful mood, but that there is an undercurrent of excitement which appears to bode ill for somebody whose influence is widely felt. One dispatch said it was the general feeling that a big faiiure in the trade to-day was almost sure. It said further that a rumor was in circulation in effect that Rushad settled sell some Sage his of privileges at 50 cents on a dollar and that there is strong talk of closing 'change if banks call any more loans. It is not surmised from these reports th at Sage is in imminent peril, indeed such an idea is laughed at, and the rumor of his sacrifices seems somewhat inconsistent when it is known that Wall street is now receiving substantial aid from across the water. Foreign buying this morning of all good securities is reported to be very active and most favorable to a speedy and satisfactory adjustment of the difficulties which now harass New York speculators. The feeling on 'change here is that while our markets are becoming more and more affected by what occurs on wall street there is not much danger of any similar trouble here. For years the banks have not been in such good condition as at present. If a panic had been anticipated better preparations could not have been made for it. It was remarked this morning by gentlemen well posted on financial affairs, that it seemed as though the banks had kept all their money at home to meet just such an emergency. There was some talk about Armour in "the alley" this morning, but the best authorities over their belief that affairs on Wall street have not caused him any anxiety. Private messages to J. L. Lester & Co., dealt largely with the affairs of Russell Sage. One dispatch from Henry Clewes says it looks as if Sage was selling out the stocks lately put to him, which if true, will influence for a lower market. Other advices over Lester's wire are somewhat more explicit, and say in effect that Sage is supposed not to be taking any stocks on privileges, but is making settlements by giving his check for differences, thus compelling brokers to sell stock which they have bought,"expecting Sage would receive it on his puts. The Newark bank failure is given also as a principal cause of the downward movement in stocks, and seems to have created considerably more excitement than would ordinarily be expected of such a failure. The axiom that flying straws slow the direction of the wind is, however, a way of easily accounting for the instant and important effect of the bursting of even the smallest financial bubbles at such a time. According to dispatches over Lester's wire the principal London banks have been large buyers of fancy stocks all day, and the general report confirms this evidence, that the migration of gold has changed its course so that New York instead of London is now the importer. Despatches to Swartz & Dupee announce that Gould borrowed large blocks of foreign
