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THE RUTLAND DAILY GLOBE. TUESDAY MORNING. SEPTEMBER 23. 1873. LATEST FROM THE SEAT WHAT THE PRESIDENT WILL DO. would remedy the difficulty. The legality TELEGRAPH. of such a step might be questioned, but the WASHINGTON Sept. 92. situation, he thought. was such that an exMONEY PANIC RUN ON BANK President Grant. accompanied by Gen. ercise of the supreme law of public safety Babcock. returned to Washington this was amply warranted. The letter recited morning. In the course of the morning THE BROOKLYN BAN the two great instances of violation of the the President called at the treasury depart. English constitution in cases of similar New YORK ment and had a conference with Secretary ERNMENT TREASURY emergency, namely the suspension of The Brooklyn Bank Presid Richardson. The result of it may be in. habeas corpus and the Peel currency act. day and resolved to sell one ferred from the fact that subsequently the An instance of more modern date was also United States securities in ca secretary stated to the agent of the Associgiven, that of the issue of $5,000,000during gency. The majority, howe ated Press that the President will do anyLIKELY TO BE DONE. the Black Friday panic by order of Presopinion that there would be n thing within the law. but in no particular ident Grant. The people warranted you them. They will stand by will he go beyond his clear legal authority. in this stretch of power by a re-election. whatever may happen. He will maintain the safety of the treasury unparalleled in the history of the country. A SLIGHT RUN. department and protect the credit of the said the letter in conclusion. of Suspended Banks. There was a slight run O United States from the influences of presInterviews are published this morning ent financial embarrassment. In answer to Ward Savings Bank, Jersy city with presidents of various savings banks, inquiries, nothing was elicited to strengthAN IMPROVED GENERAL in which they are generally represented as en the report that action will be taken in The Evening Post says the expressing confidence in their ability to regard to placing a part of the legal tender UATION ON MONDAY. with an established improver weather the storm. reserve at the disposal of the New York general feeling. One day mo 10.20 a. m.--Gold opened at $1.12 amid city banks. Stock Exchange closed will. some excitement. CONDITION OF THE TREASURY put everybody in such conditi 10.30 a. m.-The Gold Exchange has F SECRETARY RICHARDSON the exercise of reason is coner The treasury has a sufficient amount of just closed. the same as the Stock Exwill be prudent for the broken currency on hand to meet all legitimate dechange. $1.12 has been established as the YORK, Sept. 22-7:45 A. M. mands. gin business. This afternoon 1 statement is made this morn. basis of settlement. The rate of interest is assistant treasurer will continue THE FEELING IN HINGTON. on the street as high as : per fixed at 7 percent. for carrying. rate having been paid by distres 10 40 a. m. There is run on the Seamans' five-twenty bonds in accord. Muchexeitement exists throughout WashPresident Vail of the Bank of Savings bank in Wall street. notice of Saturday, paying ington consequent on the news from the said this afternoon that con Edward Haight thinks his firm will be currency at the average prices north. The banks here do not seem as yet been very greatly improved. able to resume in a few days. that day. Secretary Richardto be seriously affer ted by it the action of the government night he did not see how he The following notice is posted in the THE GREAT PANIC. five-twenties had been highly United States Sub-Treasury er to do any more than buy New York Sept. 92 P. 111. loosing greenbacks II the five-twenties offered will Purchases of United States bonds to The Gold Exchange bank's gross clearday will include all the different series of STATEMENTS OF JAY COOKE thout delays or red tape. The ings are $92,000,000. -2,400,000 bonds the secretary added, "is not a 5.20's Payments will be made in currency Jay Cooke Co. notify the have been purchased up to this hour. at the rate of 81.10.79 and accrued interest y or loan institution. and it is drafts drawn against money Brokers generally are busy paying off the in coin. ether Congress would sanction since their suspension will be transactions of Friday and Saturday. Fifty thousand dollars worth have so far struction of my power. sentation of holders, and those NEW YORK, 2:10 P. M. been purchased. Small amounts from inSIDENT AND VANDEEBILT. vious to suspension are referre dividuals will be bought. that not being the Three millions bonds have been bought ing is the substance of an in. Of TC Lathrop. Lroy, N. intention of the government in authorizing by the sub-treasury up to this hour. More of Commerce of all Canad Commodore Vanderbill last the purchase. are coming in. All is quiet at the Fourth cept Molson's bank of Lone had during the day enjoyed a National bank. A meeting of the directors of the variotts branches to Metropolitan bani le interview with President savings banks is now being held to decide NEW YORK, 2:15 P. M. son's bank, of London. St. had not made a formal propoupon the advisability of compelling depositOwen Sound, Ontario to Park A. D. Williams & Co. overdrew their acpresident. as had been reportors to wait sixty or thirty days, as their count in the Bank of North America to the ould furnish the sum of $10.ders. Drafts drawn by banker charter allows. The banks are generally 1 certain conditions. but had parts of the country and abroa amount of 8450,000 to-day. The firm deopen. Crowds of spectators throng the ed for payment to banks and 11 conversation with the presiposited securities for $250,000, leaving lower streets of the city, but the excitement $200,000 still due. The bank authorities to whom accounts against whi everal other gentlemen that is less than Saturday. made. has been transferred. are now engaged in endeavoring to compel ould be done to make money 11.30 a. m. At a meeting of the directthe payment of that sum. would willingly lend his aid HUNS SUBSIDING IN WASHI ors of the Seamen's savings bank. it was He had then announced in JAY COOKE & co.'s CREDITORS, WASHINGTON decided to pay immediately sums of 8100 if the government or other No meeting of Jay Cooke's creditors or under. All amounts over that sum will The run on the Freedman's in any way fuenish 840,000,will be held until full statements have not be paid before thirty days. as the charington city savings banks has amount of securities to the been received from various branch offices ter allows. sided. not more than a dozen ociation. he would be one to throughout the country. These are now 11.45 a m. Mr. Camp of the clearing ing at either place at any one 000,000. Whether his offer being prepared with the utmost dispatch. the day. house states that all the banks have pulled epted or not. or whether the The firm cannot at present say anything through, except two, and those two are RUN ON NEW JERSEY SAVING would take any steps in the regarding the duration of their suspension. now settling through the loan committee. TRENTON. N. as ignorant. but hoped someCORRECTED. 11.50 a.m. A run has begun on all the certainly be done to make There was a run on the savin The statement on Saturday that checks savings banks throughout the city, The until the erisis was past. day. The directors claimed on the Continental Bank had been thrown crowds much larger on the east side of notice according to their REFUSES TO PAY CALL LOAN. town on the west. and the utmost exciteout at the clearing house was an error. it took the names of all who e assertseditorially that to-day having been confounded with the National ment prevails. One of the largest of the money. The banks are amply he gloomy prospects. immediBank of the Commonwealth. The Contisavings banks has already paid in 85,000 in every dollar. he failure of Commodore Van excess of its daily payments. It is stated nental Bank is and has been paying asustial. The regular banks were also ident of the Lake Shore railthat the majority of the banks will take THE FEELING IN LOXDON. by a few depositors, whose de when called upon. a call loan advantage of their charter. which allows LONDON, Sept. M. promptly paid. Each of the 0 negotiated with the Union them from thirty to sixty days time. Much anxiety is manifested on all sides in Trentonhave a surplus of OV my. whereof his son-in-law. PURCHASES OF BOXDS to hear further news from New York. ANOTHER SUSPENSION ice F. Clark. was president. Noon. Two million of bonds have been Jay Cooke, McCalloch & Co. continue to PITTSBURG ING SECRETARY OF THE UNION pay cash in the usual manner over their purchased by the sub-treasury up to this T COMPANY AT JARGE. James T. Brady & Co., br hour. counter. and the run on their house has night the detectives had not Security Trust Company suspe ceased. Much sympathy is expressed for CERTIFICATES ISSUED. RUN ON ALBANY SAVINGS lefaulting secretary, Carleton. the firm by leading bankers. d. J. Cattell The clearing house loan committee have 1 Trust company. His defalALBANY has telegraphed to Secretary Richardson issued two million and a half of loan certiertained to be fully 8500.000, that the business of syndicate is not disThere was quite a run on ficates this morning. YORK. Sept. 22 8:40 it. m. turbed by financial troubles. Among the savings banks here to-day. 12.30 p.m. The national banks are rumors current in stock exchange is one XCHANGE TO REMAIN CLOSED. Savings Bank paid out 850 promptly meeting all demands, The savthat the Bank of England holds $300,000 Savings Bank, $6,000. and red that neither the stock exbanks are nominally in a state of sus. of Jay Cooke & Co.'s acceptances, and that 812.000. At .m., when the he banks will open this mornpension. merely as it relief to nationals. the Rothebtids have $100,000 of the same there was a better feeling pr other hand Mr. Camp. general IMPROVED STATE OF FEELING. paper. it is thought the run is now OF he clearing house, said in an 5:30 P. m. A dispatch. announcing the 10 o'clock last night that THE NEW YORK CITY SAVING I p.m. The clearing house statement closing of the New York gold exchange, passed in the regular way has been made public, and all the banks NEW YORK has just been bulletined. This news is acclearing house will be paid. have been cleared satisfactorily The feelThe sayings banks, being cepted as an indication of the gravity of e in no danger, and there is ing among all classes of people-down town not all enforce the thirty the financial situation. and the market for their suspension. They were is one of great relief. There are no runs notice provision of the charter American securities i. again depressed. on any of the banks. There are no more er than they are to-day, and The Bowery Savings Bank
