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RESOLUTIONS BY THE NEW YORK CHAMBER OF COMMERCE Demanding a Speedy Repeal of the Sherman Purchasing Act Adopted With Only Three Negatives. NEW YORK, July 6.-The special meeting of the Chamber of Commerce to consider the present disturbed condition of the finances of the country, which was called at 12:30 o'clock this afternoon, was largely attended. The first vice-president, Alexander E. Orr, presided. John Claffin, the dry goods merchant, offered the following: Whereas, this country has often suffered greatly by reason of hasty and illadvised financial legislation; and, Whereas, it is now suffering from the effects of the silver purchasing clause of the Sherman act, which, by creating distrust as to the interchangeability of our currency based on gold, has caused widespread alarm, and has almost created a commercial panic; and, Whereas, in consequence of this alarm, money is withdrawn from circulation, business is greatly depressed, many mills and manufactories are closing or preparing to close, and thousands of laboring men are about to be thrown out of employment; and, Whereas, business enterprises will not be resumed, nor labor be steadily employed until money can be obtained by manufacturers and by merchants at moderate rates: and, Whereas, ordinary Interest rates cannot be expected until confidence in the stability of all the money of the country shall be thoroughly re-established, so the lender may not fear payment in dollars less valuable than those he lends. Now, be It Resolved 1. That the repeal of the silver purchasing clause of the Sherman act, which month by month renders increasingly difficult the maintenance of the parity of each dollar with every other dollar, is essential to the prompt restoration of national prosperity. This chamber, therefore. urges the speedy and unconditional repeal of such silver purchasing clause. Resolved, 2. That in the judgment of this chamber a representative commission should be appointed by Congress at the special session about to convene, which commission should diligently study the whole body of coinage and currency laws of the United States and of other countries and report at the regular session of Congress, to the end that a comprehensive, elastic currency may be carefully matured in the light of the world's experience. Louis Windmuller moved an addition, as follows: "Resolved, That a committee of seven be appointed by the Chair to co-operate with other commercial bodles representing similar Interests of this chamber in Washington, with power to use all legitimate means for the promptarepeal of the Sherman law." Mr. Windmuller's amendment was accepted as an amendment to the original 'resolution. The resolutions were declared adopted, there being, but three votes in the negative. The nays were William I. St. John, A. Foster Higgins and J. 13. Colgate C.N. Bliss offered a resolution, which was unanimously adopted. which instructed the secretary to send a copy of the resolutions to the President. each memher of Congress, and to all the chambers of commerce and other commercial bodies throughout the United States, requesting early action on this subject by their respective associations. The following committee, called for by Mr Windmuller's resolution. was appointed: John Claftin, Henry Hentz, G. H. Schwab, W. L. Trenholm, C. N. Bliss, J. E Simmons and John Sloan. The chamber then adjourned. PENSACOLA, FLA., July 6.-At a large meeting of the Chamber of Commerce to-day resolutions, asking the repeal of the Sherman law were unanimously adopted. More Bank Failures. TOPEKA, KAN., July 6.-Two Kansas banks closed their doors yesterday. The failure of Finney County Bank at Garden City was not unexpected, as the bank has for some time been in a bad condition. The Bank of Leroy, Coffey county, has also closed. OMAHA, July 6.-The American Savings Bank suspended this morning with deposits of $153,000 and assets of $259,000. It was involved In the embarrassment of the American Loan and Trust Company, through the latter's enterprise, the Omaha and South Texas Land Company EVERETT. WASH., July 6.-On account of Inability to realize on securities, the Puget Sound National Bank, of Everett. suspended yesterday. WORTHINGTON, MINN., July S-The Nobles County Bank closed its doors yesterday morning. Its owner, Peter Thompson, made an assignment. Several thousand dollars of the county's money is tied up. SUMAS, WASH. July 6.-The Bank of Sumas suspended payment Monday. No is statement has been made, but it thought the creditors will be paid in full. Governor Flower to the Reseue. WATERTOWN N. Y., July 6.-A run has been started on the Jefferson County Savings Bank in this city. Governor Flower was a witness of the run, and this afternoon, the rush continuing, Governor Flower, J. R. Stebbins, president of the Atricultural Insurance Company, and 201 e al preminent bankers and financiera signed and published a statement personally guaranteeing that the depositors shall be paid in full. It is believed that this will stop the run.
