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For County Clerk, HILON L. MEAD. For County Treasurer, SAMUEL W. RAYMOND For Superintendent of Schools, R. WILLIAMS. THE FINACIAL CRASH. The Cook failure of the big banking concern the Jay & Co., announced in our last, o simultaneous suspension of their with York, Washington and houses, has led, as was ticipated, banking Telphia, New readily London Phila an break to a widespread financial down. Up to Wednesday panic and in New York, ers as some 40, including such failures &c., numbered Philadelphia, the Boston, bank bank Fiske Henry & Clews & Co., Howes & Thus Hatch, Jacob Little & Co., Macy, far, however, the excitement &c., & and be mainly confined to such bankers, seems to the firms as delt in fancy railroad stocks. brokers le general course of business it has On and the belief is lit. is not trade, beyond a The to suffer any serious that effect; general likely temporary gaining damage. strength had check, objective point of the schemers who responsible for the crash is are these represent an is not a capital that and capital, ordinary though it railway interests enormous stocks, f the channels of business "The the New general business of the aspect striking York Times assures us, country," "remains the its' conti 'st with that of the in lition, centre. Exports are in a healthy stock-brok air and imports are moderate. con some abundant, crops are all well on the whole, and some are !oing very well, manufacturers of than the labor market is more them indicate usual, and reports from the steady a vigorous, if not a brilliant, interior Every of the one who is engaged in satisfying trade. community, actual and permanent demands of any fourths of a may year fairly of active look forward and to three. the profitable otable with this view, the in thus far there has been is re As according that business." reasonably fact ness not commercial circles. Legitimate no fail. ut, with only promises to weather the bus. peculators the enormous drafts of the gale, o in end, on the capito] of the railroad to come out healthier and country at h prosperous than si course the stock exchange in New re The banks though g remains pended, Of closed. ever. York more a checks are virtually so. They refuse not sus. V3 avings except for small amounts, while to pay st hirty days banks privilege. avail themselves of the the ad In its Chicago the panic, of course, o failures. due effect, but thus far therehave has also imple The banks following been 1) A ion-that set in New York, are in partial the ex. lo checks; is, they pay out only supen- st be in rafts and as the collection of large on small able, against produce shipments is eastern W el stand still. virtual the grain and cattle trade has impracti- come to str ago. In Ottawa, of course, we must follow an Our grain dealers are Chi. the ast, alt, are and our banks, as in Chicago virtually and at at a ha $ indeed paying only on small checks. the ney be only not only an absolute This wil revent the sensible course. Its necessity object but the and permanently would drawing of money from which business the channels is to ing T chausting is hide their away, reserves, and to keep the which, banks owners from inv esult particular juncture, would if be forced at gav cople in widespread disaster. Uninformed sure to ank, it imagine lieg when they put there until they call money for in a ot ready it, that way in some when they call, it has been and if are ing ourse manner that is spirited kep een put this out is a delusion. The wrong. Of per wha e ordinary on short loans, and is money has es the business channels. The afloat in ed a hundred in banks of the country are depos. nal, xistence. times than all the greater by per' heir If the banks at once currency in He n private currency to depositors to be paid out all hon float weeks there safes, would holes not or be stockings, dollar hid in a away few som or la to to a dead halt. some to do business with a and matters of currency would nev securities were. Our banks They own are just no railroad as sound as they ever befo kely to the amount of 'stocks and are no extr plai he rush to upon depreciate them 1 will per cent. a dollar in value. that But fene he screws on all who compel them to put gro way a general owe them, and in that ated any time smash The up could be precipi. keep cool, only way just torm will act sensibly, and in a week now is the to now piar D. and pass over, the atmosphere
