Henry Clews & Company (New York, NY)

Episode Information

Episode UID
3090973690885
Episode Type
Run β†’ Suspension β†’ Reopening
Bank Type
private
Bank ID
309097369 hash
Start Date
September 24, 1873
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ff8d775c4ea3e703

Response Measures

None

Description

Although the house resumed in early 1874, later assignment/bankruptcy actions occurred in late 1874; classification focuses on the 1873 run β†’ suspension β†’ resumption episode.

Events (5)
1. September 24, 1873 Run
Cause
Macro News
Cause Details
Widespread financial panic after Jay Cooke & Co. and general scarcity of greenbacks led depositors to rush withdrawals from Clews & Co.
Measures
Firm sought remittances and attempted to raise funds on mercantile paper and offer securities; sought Treasury accommodations
Newspaper Excerpt
Toward noon it was whispered that a run was making upon Henry Clews & Co.... the firm paid out during the morning nearly $1,000,000 on demand
Source
newspapers
2. September 24, 1873 Suspension
Cause
Macro News
Cause Details
Unable to meet heavy withdrawals amid the wider panic and scarcity of greenbacks; Fourth National refused to honor more checks leading to suspension
Newspaper Excerpt
At 2:45 ... the doors were closed, and it was known that Henry Clews & Co. had suspended payment.
Source
newspapers
3. January 5, 1874 Reopening
Newspaper Excerpt
Henry Clews & Co. resumed business day.
Source
newspapers
4. October 23, 1874 Other
Newspaper Excerpt
Clews Assigned, and is Enjoined. Henry Clews & Co. has assigned to Frederick Taylor, for the benefit of their creditors. Judge Lawrence cites Henry Clews for explanation and enjoins him from disposing of his property.
Source
newspapers
5. December 1, 1874 Receivership
Newspaper Excerpt
In the United States Court ... Messrs. Henry Clews & Co., having failed to answer in bankruptcy proceedings, were adjudicated bankrupt ... adjudicated bankrupt.
Source
newspapers

Newspaper Articles (25)
1. January 21, 1873 Evening Star Washington, DC
Article from Evening Star, January 21, 1873

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JAY COOKE SUING HENRY CLEWS.-A deputy sheriff called upon Henry Clews on Friday evening, in pursuance of an order by Judge Tappen of Brooklyn, with an order of arrest in case he refused to surrender into the sheriff's hands $7 ,500 at the suit of Jay Cooke & Co. Mr. Clews paid the money under protest, and annourced that he would contest the matter in the courts. The circumstances of the case, as stated ns. 2- by MAY. Cooke, are as follows: Gill Brothers, bankers. of Philadelphia, deposited against their account with Henry Clews $16.100. Soon after Jay Cooke & Co. began an action against Henry Clews & Co. for the recovery of $7,500 of the $16, 100 deposited with Clews & Co., on the ground that $7,500 of that sum had been obtained from them by Gill Brothers and deposited with Clews & Co. The latter claim that no part of the $16,100 deposited by Gill Brothers had been obtained by that firm from Jay Cooke & Co. Judge Tappen, at the suit of Jay Cooke & Co., appointed J. B. Haskin receiver, and Henry Clews refused to put the money in his hands. Judge Tappen then issued a peremptory order, with the above result.-N. Y. Tribune, 20th.

2. September 24, 1873 New-York Tribune New York, NY
Article from New-York Tribune, September 24, 1873

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a e SUSPENSION OF HENRY CLEWS & CO.-THEIR CHECKS THROWN OUT BY THE FOURTH NATIONAL BANK -TREASURY ACCOMMODATIONS UNAVAILING. A few minutes after p. m., a TRIBUNE reporter was informed by a bank president that Henry Clews & Co. had had a large amount of securities thrown back upon their hands, and would be compelled to suspend. The reporter at once visited the Fourth National Bank. which has acted for Henry Clews & Co. in the Clearing-House to learn the truth of the report. He was there informed that the bank had carried $160,000 in checks on Clews & Co., through Monday, but yesterday additional checks came in to the amount of $137,000. The firm bad no funds in bank to take up these checks, and though they offered securities of various kinds the bank officers did not feel justified in accepting them and taking up the checks. Mr. Clews had been closeted with Mr. Calhoun, the President, during the greater part of the day. using every means of persuasion in his power to prevail upon the President to take up his checks. This was without avail, and about 2 m. the checks were thrown back upon Clews & Co., and their suspension became inevitable. The reporter then went to the office of Clews & Co., expecting to find it closed. but it was still open and business was apparently proceeding as usual: but while the reporter was standing in the countingroom a check was presented to the paying teller which was returned by him to the person presenting it. Soon afterward another check was presented and met the same fate. At this moment Mr. Clews passed from his private office into the countingroom, and the reporter accosted him: Reporter-I hear the statement made that you about to suspend. Is it correct Mr. Clews-It not. Reporter- What is the meaning of the return of checks unpaid Mr. Clews-I can't tell you what it means. Mr. Clews then went out and walked up Wall-st. It was supposed by some that he had gone to make another effort to obtain funds; by others that he was simply getting out of the way before the announcement of his failure should be made public. In a few moments-at 2:45-the doors were closed, and it was known that Henry Clews & Co. had suspended payment. The house was formerly known as Livermore, Clews & Co., and in 1865 became Henry Clews & Co. L. S. Fowler is the second member of the firm. CHAOS IN THE HOUSE. In an instant a crowd collected. The news seemed to spread like the wind. A number of dapper young messengers bounced into the doorways, unmindful of the crowd and seemingly intent only on reaching the teller's desk before the windows were closed at 3 p.m. Quite a crowd," said one to a bystander. What's the matter 9" "Matter? Clews has suspended!" Each messenger blew a long whistle and took from his pocket a heavily laden deposit book. Wanted to deposit these," said one, "but I guess we can wait." In and through the rooms and doorways, the crowd thronged, lounging on the handsomely-cushioned sofas, and stretching their legs across the black walnut desks. One old gentleman became the center of an interested group in the reception room by his lively denunciation of the banker. "I had Government said and Clews me to them Railway bonds. bonds," newly-broken for Alabama he, persuaded He has change been dabbling too much in these rotten carpet-bag securities, and so I am in for it." He was somewhat violent in his gesticulations and loud in his language, and an affable friend of the firm soon persuaded him to withdraw. Henry Clews appeared at the bank soon after his walk, flushed and excited. He made no reply to the reporter who accosted him, but strode rapidly through the outer rooms to his room in the rear of the glass-cased counting-room. Here he remained for some time, and then again plunged into the crowd and was seen pushing through the busy groups in Wall-st., intent apparently on his own thoughts. In the mean time the business, such as it was, of the banking house of Henry Clews & Co. was left to the bewildered clerks, who peered through the closed windows upon the curious crowd in seeming doubt as to whether they should open the windows and resume on their own account or not. Mr. Greenough, the managing clerk, busied himself as far as he could, in settling the accounts of the day, but even he had the bewildered air common to them all. " Do you think you will pay to-morrow 9" asked one of the check-holders, who had come in half an hour late. Pay to-morrow ?" repeated the wretched clerk with an abstracted air; 'pay Oh, yes, we are expecting remittances every moment." Among the substantial men who came in to condole with the firm were Henry G. John and but they were to Hoey afflicted others, withdrew. unable Stebbins, At about afford much consolation, and BOOD o'clock policemen cleared the halls and took up their positions at the front door. My GOVERNMENT FAVORS RECEIVED. On Saturday morning when it was announced of that the Treasury would purchase 10,000,000 bonds the Union Trust Company could not obtain any greenbacks until 12 o'clock, but it is stated that at 10 o'clock Henry Clews & Co. received large packages of greenbacks from the Sub-Treasury, which were being opened in their office at that hour. of Whether this was for money, paid for purchases bonds of Henry Clews & Co. 'OVERBORNE BY A SCARCITY OF GREENBACKS." The managing clerk, Mr. Greenough, who has been familiar with the books and details of, the business infor several years, made the following formal statement to a TRIBUNE reporter: a "There has been, Sir, for four days steady, uninterrupted run upon us. We have paid out all our available currency and find ourselves We to-day at the end of all our available money. could simply pay no more, and we closed our doors." Q. What amount do you think you paid out in that time A. A million and a.quarter in greenbacks. We had no banks to back us, although we have all the duties and responsibities of a national bank, and we could not stand it. Q. Was the suspension occasioned at all by railway investment or speculation A. Not at all we had made none we were simply overborne by the of we have ample to scarcity greenbacks; securities not availmeet every liability, but the securities are able.

3. September 24, 1873 New-York Tribune New York, NY
Article from New-York Tribune, September 24, 1873

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WALL-ST. SHROUDED IN GLOOM. CONFIDENCE GIVES PLACE TO DISTRUST-FINANCIERS AFRAID TO OPEN THE STOCK EXCHANGE-IRREGULAR SALES-THE CLEARING-HOUSE CERTIFICATES ALL TAKEN. Wall-st. was quet yesterday morning; but it proved before night to be the calm that invariably precedes the storm. There were no crowds in the street, at least none such as Saturday witnessed; nothing of the confusion which has served in the two or three days just past to accelerate and increase the panic. But underneath this apparent security there was lurking a great danger, which may yet precipitate a universal disaster. Men went to bed Monday night confident that the worst was over; they rose yesterday morning still assured of the stability of the banks. The latest foreign advices helped to increase this confidence, for they spoke of no failures, though of some distrust. The confidence of the Clearing-house Committee had inspired confidence everywhere. Men felt that only the rotten concerns which had dealt in railway securities and the parasites who had fed on the Government favors must go by the board. It was known early that the $10,000,000 loan scrip issued by the Clearing-house had been quickly absorbed; but it was also known that the Committee, still strong and confident, was ready to issue larger amountsi if required. Still the impracticability of the $10,000,000 loan, which soon became apparent, served at first to depress the street and influence the banks disastrously. The knowledge, too, that $9,271,350 of bonds had been bought, and that the greenbacks paid for them had been quickly absorbed, as well as the futile effort to throw the Union Trust Company into bankruptcy, was in greater degree depressing. The stock quotations in the street were better in every instance than they had been at the close of Saturday's operations on Exchange, and indeed better than they were when the great break began on Friday morning. But still they were not 80 high as people had anticipated and the "bulls" had hoped. The savings banks officials were in good spirits, and few runs were reported on these institutions. The largest savings banks had paid out only insignificant amounts. Several of the stronger had even declined to take advantage of the clause in their charters which allows them to refuse payment of drafts on their institutions except after the 30 or 60 days' notice. In the Gold Room the price of gold was placed at 112, a rate much lower than was expected to be established, and settlements were easy. But everywhere all securities went begging, and there was little comfort to be had from the fact that the stock gamblers were quiet. The Stock Exchange remained closed, and this indication of common sense on the part of the brokers was encouraging, and there were many other circumstances that tended to make yesterday morning bright and cheerful, and the prospect for the future encouraging. The reports from the Union Trust Company direct were much more favorable. It was declared that the suspension had been needless, and the directors were denounced as senseless. But the receiver stated, wherever he could be heard and heeded, that everything good could be said of the Trust Company and that all that was favorably said of it would befulfilled. The stock brokers were much relieved by Jay Gould's settlements through his brokers of a large number of shares of stock at reasonable rates, which bankrupted nobody and relieved everybody. But while all this cheerful outside appearance of the crisis which had seemed to be impending encouraged people to hope that the panic was over, there were events occurring that showed how futile wasth hope. Early in the morning reports of the suspension of banks began to come in from all parts of the country. This news did not reach the general publie until the afternoon, but the bankers and brokers were early advised of it and warned by the telegrams. The aggregate of country demands on the banks of this city is said to have been $200,000,000. Such a demand was unprecedented, and could not be met. Upon many of the bankers a run was secretly begun. The crowds in the street knew nothing of the impending disastersaw nothing of that which was undermining and destroying. Toward noon it was whispered that a run was making upon Henry Clews & Co. The run on the company was not made known to the public until about 2:38 p. m., when the doors of the bank were suddenly closed in the faces of the crowd without. It is asserted that the firm paid out during the morning nearly $1,000,000 on demand, and then went about the street with mercantile paper endes oring to raise more funds: but his offer. or

4. September 24, 1873 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, September 24, 1873

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THE financial disturbances in New York have been the subject of about as much hopeful prediction as was the war of the Rebellion at its inception. Then we were informed, "from the most reliable sources," in nearly every day's dispatches, that the war would certainly be finished in thirty, sixty or ninety days, according to the degree of sanguineness of the party making the prophecy. So in this case we have been informed daily that the worst was over and that the situation was improving. In both cases the wish, rather than the facts of the situation, was parent to the thought. There are indications of a renewal of the panic and a spread of its effects to general business. There are rumors that the dry goods trade will be seriously affected. The suspension yesterday of the great banking house of Henry Clews & Co. has renewed and intensified the feeling of general distrust which had been partially allayed, and it is difficult to foresee where it will all end. It is very agreeable to know that no Portland institution has connections or investments which are likely to affect its standing in any degree. No other line of commercial business, than the dry goods trade, seems to be yet affected The reports of grain failures in Chicago are denied. P. S.-A later dispatch brands as utterly false the report in regard to the failure of drygoods houses.

5. September 24, 1873 New-York Tribune New York, NY
Article from New-York Tribune, September 24, 1873

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THE SITUATION. Though the panic broke out afresh, yesterday afternoon, we are far better off than the panie-mongers can believe. On careful examination, the wild alarm into which the Street was thrown is found to have little larger occasion than the failure of Henry Clews & Co., and a few out-oftown failures and runs. Clews & Co. made a gallant fight, and, all things considered, held out better than could have been expected. The country failures everybody should have anticipated. Four such banking houses as those of Jay Cooke & Co., in New-York, Philadelphia, and Washington cannot suspend at the outset of a New-York panic, when nobody is prepared for it, without gravely embarrassing scores of small banks all over the country. But the situation out of town proves far better than the alarmed brokers and private bankers believed last night. The Petersburg suspension is not alarming; the report of great trouble in Chicago is false; in Philadelphia and Pittsburgh the prospects are better; Senator Palmer denounces the story of a run on his bank at Amenia as unfounded; the runs are over in Albany, Trenton, and Washington. Courage, then ! The scare is far worse than the hurt. But we have no purpose to deceive our readers by underrating the gravity of the crisis. There is no reason for further panic and no sense in it. But we would be unreasonable if we expected, after what has happened, that no brokers with worthless stocks, no private bankers with wild-cat securities, should yet suspend. We must learn not to get into a fresh panic over every one -that is all. Our leading banks are sound. Practically they have stopped paying out legal tenders, and are thus nursing their reserves, while continuing to afford facilities for business. A great deal of liquidation is going on. The reports about serious trouble among dry goods men prove unfounded. Capitalists and that large class who keep small sums at hand watching for chances to invest legitimately at low prices, have now their opportunity, and we urge them to come forward. They can make large profits for themselves and greatly relieve the Street, by buying freely at the low rates now ruling. If you have money to invest, go to Wall Street and buy stocks that represent solid property today. If you have not, keep away, and do n't add to a foolish panic by your needless presence.

6. September 24, 1873 New-York Tribune New York, NY
Article from New-York Tribune, September 24, 1873

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New-Dork DailyTribune. FOUNDED BY HORACE GREELEY. WEDNESDAY, SEPTEMBER 24, 1873. TRIPLE SHEET. The revolution in Santo Domingo is assuming alarming The steamer Deerhound has been proportions. released by the Spanish Government. === The Shah of Persia announced to his people that reforms would be introduced into his country. Four banks in Petersburg, Va., have suspended, and one declines payment; the National Trust Company of Pittsburgh has closed its doors; orders for locomotives at the Rogers Works in Paterson, N.J., have been canceled, and over 500 men have been discharged; the runs on the banks in Chicago, Pittsburgh and other cities have ended. = Controller Hopkins and State Engineer Taylor will probably be renominated by the Republican State Convention; ex-Senator Thayer is strongly supported for Secretary; the renomination of Treasurer Raines and Attorney-General Barlow is doubtful. The property of the National Iron Company at Danville, Penn., was sold for $768,000. = The Modoc murderers will be executed Oct. 3. === The decrease in the exports of iron from Great Britain from Jan. 1 to Aug. 31 was 311,217 tons; the decrease during August was 44,461 tons. Discriminating duties against imports in French vessels will be discontinued on and after Oct. 1. - The U.S. District Court at Trenton, N. J., has denied an injunetion to restrain the New-York and Long Branch Railroad from erecting a bridge at South Amboy, N.J. J. W. Wright has been indicted in Washington for forging and uttering the names of Indians to receipts for bounty and back pay due. The panie was renewed in Wall-st.; Henry Clews & Company failed; the Government purchases of bonds in three days exceeded nine millions, and all the Clearing-house certificates were taken; the Gold Exchange was opened, and irregular sales of stocks were made in the street; a futile effort was made to throw the Union Trust Company into bankruptcy; the defaulting Secretary's property was seized; Augustus Schell stated that the last Lake Shore Railroad dividend was learned. - Senator Morton said that the President might change his policy, and ex-Secretary McCulloch thought that the panic could be stayed if the public would only take heart. --- Sheriff Williams insisted that the Brooklyn jail frauds were committed without his knowledge; Deputy-Sheriff Conraddy was removed; the District-Attorney declared that he would push the case of the treasury frauds to a trial. - The Court of Appeals decided that the genuineness of the signature in the Taylor will must be tested before a jury. Judge Fancher rendered a series of decisions in mandamus cases. - A woman was accused of causing the death of a large The number of children through baby farming. Crispins are striving to compel manufacturers to pay the rates which ruled in July. = The Mayor, Commissioner of Public Works, and City Judge of Long Island City were impeached for alleged official corruption. - The jury in the Carroll inquest implicated Daniel Webster. - Gold, 112, 1113, 1121. Thermometer, 631Β°, 71Β°, 63Β°.

7. September 25, 1873 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN
Article from Memphis Daily Appeal, September 25, 1873

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SENATOR MORTON INTERVIEWED. YORK, September 23. Senator the NEW is still in town, watching financial Morton situation with great interest. him at Tribune reporter called upon whethA Fifth Avenue hotel to inquire of the be had received any intimation Senser action by the President. said he was not tor for the President, or than further speak Morton authorized to say to he was prepared to do more when he that done. He had thought he had town, on Sunday, that the remedy if he left would prove sufficient; it was adopted become convinced that was inshould enough, and that the panic he would not the senator thought law to creasing, whatever he could within the that do confidence. The senatorsaid restore Johnson was of the authorized opinion Reveerdy President was not and that the money from the treasury There to take it in the national banks. deposit also doubts about the legality It was, of were bonds not yet due. of reI difficult to devise a way from Wall street with purchasing herefore, money would do lieving The President the he could, but was very all within the letter of of keeping that treasury. the desirous think law. Reporter-What effect do you particuexcitement of to-day, and & Co., the the failure of Henry Clews larly, will have on General Grant? Morton- The failure of Henry Senator Co. will hit him the hardest for of all. Clews Poor & Henry, I am very sorry him. Reporter-I bee that the President do you has to Long Branch to-day; and returned him to come over to-morrow expect look after matters himself? Morton-No; I doubt there if he he Senator As soon be gets self-constiwill surrounded come. by a crowd of can deis advisers, and I think be here. tuted what to do as well away as earnest cide Morton expressed be Senator that the outlook might not and that so discouraging hope as it was thought, better this would open much afternoon. morning things than they had closed yesterday EX-SECRETARY M'CULLOCH'S OPINION. NEW YORK, September 23.-The ex- Meof the treasury, London Hugh firm secretary a member of the Co., was Culloch, Jay Cook, McCulloch & of the called of on yesterday by a reporter inquiries and in response to house or not the he as to much affected by the Tribune, whether London panie, cheerful was advices were of a most there said When he left London revoluwasno suspielon character. that a financial seemwas imminent there. There practice sion be no disposition to q ed to on the part of Americans. and there economy crops are abundant, abroad The demand for them is good & prices, and trade is prosperous. there was at these circumstances disUnder ground whatever for existing had no in financial matters; likelihood he of turbance there was any have resupposed contingency he would the busisuch a in London to attend to first mained of the house. He received when his the ness of any disturbance on intimation reached the quarantine asked f steamer Monday evening. He was panic whether he thought the present seriousbecome wide-spread and as the would affect the mercantile 28 well McCulloch ly community. Mr. why financial that he could see no reason conreplied should the country was in a good prices for it if good crops and good criterion; dition, could be taken as a senseless; them panics were always mainfinancial depended upon the that tainali ev crything ee of confidence; in the great times like trouble the was present held on to men all available became and In the present funds they posse. was frightened commu sed. nity alarmed & Co., instance the n, Cox the failure of Warehouse and and have become and by the Keny Se distic arity usifal com- ICE of pany, those houses and banks whose reso are ample to meet the ordinof business, Each ary a considerable run. and to withstand requirements credit and the com- even to prepare for one and in this way the which was now ing storm, panie, endeavored precipitated taxing of financiers. reason for its emergencies the no extending He to could the see and disturbing the commerce in and mercantile disarranging community, confidence of the He counselled of the country in the greater part of ability country. the resources liabilities the and mer the to pay its and suspicion extend a calamity, which Distrust cantile and community would aggravate could sensi- be avoided if the community acted bly and discreetly.

8. September 25, 1873 Eureka Daily Sentinel Eureka, NV
Article from Eureka Daily Sentinel, September 25, 1873

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P By Overland Telegraph. |SPECIAL TO THE DAILY SENTINEL.] NEW YORK. NEW YORK, September 24. A Herald special from St. Domingo, Sept. 18. says: The Insurgents have been totally defeated. Marcia has regained. and Davis Montecristo has been retaken. A schooner containing the following communication has been captured: Luperon has fled to Havti. The strike progresses among the Crispins in the various shops on Warren. Murray and Chambers streets and College place. where ladies' shoes are principally marufactured. About 200 men are thus far on the strike. It is rumored that three or four shops have acceded to the demands of the workmen. The menallege that during the past eighteen months the employers have from time to time cut down the prices until there has been a reduction of 5 to 11 cents per pair. The employers promised to resume at old rates, but now refuse. Senator Marton is still in town watching the financial situation with great interest. A Tribune reporter called upon him at the Fifth Avenue Hotel to inquire whether he had received any furtheraction by the President. The Senator said he was not authorized to speak for the President, but believed the President was prepared to do more than he had done. He had thought when he left town Sunday night that the remedy adopted would prove sufficient. If he should become convinced that it was not enough. and that the panic was increasing. the S nator thought he would do whatever he could within the law to restore confidence. Beverly Johnson was of the opinion that the President was not authorized to take money from the Treasury and deposit it in the National Banks. There were also doubts about the legality of purchasing bonds not vet due. It was therefore difficult to devise a way of relieving Wall street with monev from the Treasurv. The President would do all he could, but was very desirous of keeping the letter of the law. Reporter-What effect do you think the excitement of to-day. and partienlarly the failure of Henry Clews & Co.. will have on General Grant? Senator Morton - The failure of Henry Clews & Co. will hit him the hardest of anything. Poor Henry; I'm very sorry for him. Reporter-I see the President has returned to Long Branch to-day. Do you expect him to come over to-morrow and look after the matter for himself? Senator Morton-No. I doubt if he will come. As soon as he gets here he is at once surrounded by : crowd of self-constituted advisers, and I think he can decide what to do as well away as here. There will be a meeting of the associated bankers to-morrow at 10 o'clock. at the Merchants' Bank. Stocks were weak and lower at the close, in consequence of renewed exeitement. Following are the clos ng prices on the street : Western Union. 63@64; Pacific Mail. 31@35: New York Central. 89@ 90 : Erie, 51@53 Rock Island, 88@30 Northwestern. 42@43 : Union Pacitic, 19 1 @20 Harlem, 102@104. MISSOURI,

9. September 25, 1873 The Pulaski Citizen Pulaski, TN
Article from The Pulaski Citizen, September 25, 1873

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The Wall Street Failures. The recent financial failures in New York created an unprecedented panic. For several days the dispatches contained nothing scarcely but the details of the great disaster. The country has never before witnessed such a spectacle. There were several small failures a week or ten days before the great crash, which were only rain-drops preceding the great storm which followed the fall of Jay Cooke & Co., the great millionaire bankers, whose financial operations during and since the war have been unprecedented. The government has negotiated loans amounting to millions upon millions through this firm, and it has also been the financial agent of numerous banking institutions throughout the country, Including many of the freedmen's saving Banks in the South. No banking house in America could have wide-spread alarm and failure or as disaster produced'sue by suspension this house has done. The immediate effect on Wall Street was appalling. Such wild excitement was never seen before. Banks and Bankers who felt confident and secure in the morning were closed and crushed by evening. in Undue speculation fancy and the stocks failures and bonds was the cause, produced a tumble in all kinds of stocks. The Government came in and took millions up thirty of bonds to better ease the pressure, and the feeling was afterwards. Prominent among the list of failures, after Jay Cooke & Co., came Richar Schell, Vermilye & Co., Fisk & Hatch, N. Y. Warehouse and Security Co., Kenyon, Cox & Co., &e., &c., New York, the First National Bank, Washington, &c., &c. Many others are in the list, but they are mostly small fry. The house of Jay Cooke & Co. was one of National reputation, and its failure, as before stated, will have a widespread influence upon other banking init was or stitutions agent correspondent, of which of the which financial there were thirty in the South, as follows: Alabama, 4; Arkansas, 2; Georgia, 6; Keutucky, 2; Louisiana, 1; N. Carolina, 1; S. Carolina, 5; Texas, 2: Tennessee, 3; Virginia, 3; West Virginia, 1. These are nearly all Freedmen's Savings and Trust Companies, and the probability is that the freedmen have lost considerably by the failure of their agent. On Saturday Commodore Vanderbilt proposed to come to the rescue with ten millions if the government would place thirty millions at the disposal of the New York banks. The President declined. Still the Secretary of the Treascontinued to up ury take bonds to be- the amount named above, and it was lieved on Monday that the breakers had been passed and confidence would soon be restored. LATER. The failure of Henry Clews & Co. at 3 o'clock on Tuesday created another panic. A dispatch says that confidence had been restored and the banks were doing business as usual, and just as the street was beginning to feel that all was safe, the painful rumor spread like wild-fire that Henry Clews & Co. had failed. This created as much excitement as the failure of Jay Cooke & Co., and at the close of business Tuesday evening the panic was as great as ever.

10. September 25, 1873 Carson Daily Appeal Carson City, NV
Article from Carson Daily Appeal, September 25, 1873

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CORBETT HOTSE-CORBETI BROS., PROPRIETORS, J Morgan W M Recse F Beckett T J Shullman C H Chapinan J T Porteet P Murphy M Boyd A Stacey B D Thresher T A Little D Cole LATEST TELEGRAMS. New York, Sept. 24.-A Herald special from St. Domingo, on the 18th, says the insurgents have been totally defeated. Marcia has regained Dais, and Monte Cristo has been retaken. A schooner containing communications has been captured. Luperon has fied to Hayti. The strike progresses among the Crispins in the various shops on Warren. Murray and Chambers streets and College Place, where ladies shoes are principally manufactured. About two hundred men thus far are on a strike. It is ramored that three or four shops have acceded to the demands of the workmen. The men allege that during the past eighteen months the employers have from time to time cut down prices, until there has been a reduction of from five to eleven cents per pair. Employers promised to resume old rates, but now refuse. Senator Morton is still in town, watching the financial situation with great interest. A Tribune reporter called upon him at the Fifth Avenue Hotel to inquire whether he had received any intimation of further action by the President. The Senator said he was not authorized to for the President, or say he was to do more than speak prepared he had done. He had thought when he left town on that the remedy adopted would sufficient. Sunday prove night If he should become convinced that it was not enough, and that the panic was increasing, the Senator thought he would de whatever he could within the law to restore confidence. Reverdy Johnson was of the opinion that the President was not authorized to take money from the Treasury to deposit it in national banks. There were also doubts about the legality of purchasing bonds not yet due. It was therefore difficult to devise a way of relieving Wall street with money from the Treasury. The President would do all he could, but was very desirous of keeping within the letter of the law. Reporter-What effect do you think the excitement of to-day, and particularly the failure of Henry Clews & Co. will have on General Grant? Senator Morton-The failure of Henry Clews will hit him the hardest of anything. Poor Henry, I am sorry for him. Reporter-I see the President has returned to Long Branch to-day. Do you expect him to come over to-morrow and look after matters for himself? Senator M.-No. I doubt if he will come. As soon as he gets here he is at once surrounded by a crowd of selfconstituted advisers, and I think he can decide what to do as well away as here,

11. September 25, 1873 The Kenosha Telegraph Kenosha, WI
Article from The Kenosha Telegraph, September 25, 1873

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solved that the rule requiring a notice of time be adhered to. Adherence to the rule checked but did not stop the run. Monday and Tuesday till in the afternoon it seemed that confidence was being restored. In the afternoon of Tue-day the large banking house of Henry Clews & Co suspended. This suspension was considered a relief by some of the banks which had to carry the company but it revived the excitement, said to be nearly or quite as great as that following the suspension of Jay Cooke & Co. with the difference of the Stock Exchange remaining closed. The Bank Presiden's met and resolved upon issuing $10,000,000 temporary loan certificates, making a common fund for all the banks to draw upon and resolved to stand by one another The Gold Ex change Bank returned many statements handed in to it as a clearing house for the Gold Exchange thus checking further exciting speculation. Wednesday Howes & Macy of New York and Ciews, Habecht & Co. or Lon. don suspended. Cook McCollough & Co of London have not suspended but refuse the checks of Jay Co k & Co. The $10,000,000 loan certificates being all taken out the Associated Banks of New York resolved to issue $10,000,000 more and to pay these out in place of currency. The Stock Exchange is not yet opened. Confidence is being restored in New York. Some failures reported in Pennsylvania, Maryland and Virginia. No failures west of these states. The panic ig generally subsiding and the country safe.

12. September 26, 1873 Vermont PhΕ“nix Brattleboro, Bellows Falls, Ludlow, VT
Article from Vermont PhΕ“nix, September 26, 1873

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was resumed on Sunday. It was finally decided to purchase an unlimited amount of government bonds, but not to trench upon the legal reserve of $44,000,000-a decision which the most prominent financiers fully concurred in, as by this means a large amount of greenbacks was made available for the use of bankers and institutions of trust in meeting the demands of depositors. The week opened on Monday with a more confident feeling; the purchase of government bonds at the sub-treasury reached the sum of $3,500,000, and everybody believed that the worst was over. All went well until Tuesday afternoon, when Wall street was again stunned and the old excitement was renewed by the announcement of the suspension of the well known house of Henry Clews & Co. The brighter prospect that had prevailed, and the expectation that the Stock Exchange would be speedily re-opened and business resume its wonted channels, was of course overthrown by this untoward event, and dark forebodings again prevailed. On Wednesday a continued uneasy feeling prevailed, but as no more failures of $ pecial importance were announced, matters assumed a more encouraging aspect, and the outlook as the day closed was on the whole a hopeful one. Such, in brief, is the history of this extraordinary convulsion up to the time of our going to press. The failure of Clews & Co. was not owing to any weakness or recklessness on the part of the firm, but was simply the result of the unprecedented run which had been made upon them from the commencement of the panic-in the four days preceding their suspension they having paid out to depositors the large sum of a million and a quarter dollars! Their safes are filled with firstclass securities which they only need time to realize upon, and they confidently expect to resume in few days. Jay Cooke & Co. and Fisk & Hatch also announce themselves perfectly solvent and hope to resume business as soon as the excitement is over. The failures up to Tuesday night numbered forty-one in New York, thirteen in Philadelphia, two in Washington, and one each in several of the larger cities, not including Boston. Runs have been made to a greater or less extent on the savings banks in New York, as well as in several other cities, but the press has counselled coolness and moderation, and so far these institutions have stood firm. It is a fact which should be borne in mind that the legitimate business of the country has not suffered by this panic. That class of trade which is devoted to supplying the real wants of the people goes on as usual, and the disasters have been almost wholly confined to those houses engaged in speculative railroad enterprises. In this panic the system which we have grown into of building Western railroads with the proceeds of ) the sales of bonds whose sole value consists $ in the prospective business of a raitroad ) not yet built, has worked out its inevitable result. In the past four years more than ) $600,000,000 have been spent in building e railroads mainly on promises to pay, and I 6000 miles of railroads have been built $ where less than 600 miles were really needed. The lesson which the last week has taught ought not to be forgotten by this generation at least.

13. September 27, 1873 Washington Standard Olympia, WA
Article from Washington Standard, September 27, 1873

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Mr. Redick and others represented to President Grant and Secretary Richard-son the necessity of immediate action, but they were informed that the Constitution could not be violated. It was agreed by the President and Secretary to instruct the Assistant Treasurer at New York to buy all Government bonds offered for sale to any amount. The savings banks hold many millions of Government bonds, and it is probable that they will sell them, and deposit the proceeds in National banks, which will give them relief. ### Savings Banks take Precautions against a Run. Officers of savings banks have taken prompt action to prevent an immediate run on their several institutions. A number of them met to-day and adopted a resolution that that portion of the rules governing savings institutions requiring notice to be given previous to payment be rigidly enforced. ### Suspension of the Clews Banking House in London. LONDON, Sept. 24.--Clews, Habith & Co. were informed yesterday that Henry Clews & Co. were safe, and the first they knew of the suspension of the New York house they learned to-day. They immediately called in their solicitors, and after consideration decided to suspend payment. PATERSON, N. J., Sept. 24.-Four hundred and fifteen more men to be discharged from Rogers' locomotive works, making 1,000 men this week, or two-thirds of the force. The Danforth

14. September 28, 1873 Nashville Union and American Nashville, TN
Article from Nashville Union and American, September 28, 1873

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FRANKFORT, Sept. 27 5-20's, 1862, PARIS, Sept. 27.-Rentes 57f 271c. ANTWERP, Sept. 27.-Refined petroleum 41f. New York Money Market. NEW YORK, Sept. 27.-The ten days elos ing this afternoon have been the most eventful in financial circles for fifteen years. The excitement raged without limit, and at times there seemed no end to the calamities possible. On Thursday the fires died out for want of fuel, so far as Wall street was concerned. They then began their work in mercantile circles, but there is now a reasonable hope that they may be checked, and what has often been said, the worst has been seen. The day closed with a decidedly better feeling in all directions. Foreign exchange closed with an improved tone, the last quotable rates having been 104@1041 for prime bankers' 60 days; sterling 105 for bankers' demand, 1051@1054 for cable transfers, and 102@103 for 60 days' commercial, and 104 for three days'sight. There were no regular rates for money, loans having ranged from per day to 7 per cent per annum. As a remarkable instance of the restoration of confidence now going on, it may be mentioned that money, which had been extremely scarce at 1/4 to 2 per cent per diem, was accessible at 7 per cent.on approved collaterals. In this connection it may be stated that that the resumption arrangement of Henry Clewes & Co. has received general endorsement, and most of their old customers have acquiesced in transferring their accounts to new special accounts on their books. Numerous new accounts have also been opened. Messrs. Howes & Macey make an almost similar report, all of which goes to show that the lately suspended firms retain the confidence of their customers and the sympathy of business men generally. Gold was unusually active and at times the room presented an animated appearance. The price opened at 1141, advanced to 1151, declined to 1131, rallied to 113g, and in late dealings sales made at 1131. At opening of the room loans in gold were made at register per cent, but the rate soon fell to flat, followed to sn advance of elleg per cent, and finally a reaction to flat. The bank statement will not be ready bsfore Monday. The Assistant Treasurer paid out to-day $9,000 on account of interest and the redemption of 5-20 bonds. The castoms receipts to-day were $277,000. For the week $1,908,887. Total imports for the week $10,902,468, of which $7,464,702 were merchandise and $3,437,766 dry goods. The amount of dry goods marketed were, $3,833,835. Total export of specie since Jan. 1, $40,851,151, against $57,973,861 last year. The street dealing was small and devoid of any new feature early in the day except that prices were lower in cons quence of the pressure to sell stocks for cash, but in the afternoon an improved feeling prevailed, the chapge being sudden and very marked. Prices advanced rapidly on the small offerings. A large business would have been done if they could buy stocks, but street dealers did not appear to have the money. The greatest advance was in Lake Shore which rose from 62 to 76. New York Central sold up to 92, West Union 62, Rock Island 88, Harlem 110, Pacific Mail 32 and Union Pacific 21. At the close the market was very irregular from the fact that so few stocks were offered. The following are the latest prices current among the crowd of miscellaneous operators on the street: New York Central and Hudson, 90 bid and 93 asked; Erie, 50056; Lake Shore, 73@76. Northwestern, 40@45; Rock Island, 87@90; Pacific Mail, 31@32; St. Paul, 29@30; Ohio, 30@32; Western Union, 61@65; Wabash, 42@45; Union Pacific, 20 22; C. C. and I.C., 21@22; Harlem, 106@110. It was rumered late in the day that one individual had borrowed from five to ten millions on New York Central and Lake Shore bonds and also that other large loan had been made on various stocks. New York Dry Goods Market.

15. September 30, 1873 The Middlebury Register Middlebury, VT
Article from The Middlebury Register, September 30, 1873

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The Financial Situation. The financial troubles of the country continue. There has not been much, since our last issue, to intensify the excitement. A few more large houses, in Wall Street, have succumbed, such as Henry Clews & Co., Hows & Macy, and smaller houses. The worst feature of many the case, now, is, that the regular bank- citing institutions, not only in the large ies but all over the country, are feeling about their situation, and many suspended. of anxious ave already Suspensions towns reported in several of the large Louis. Pennsylvania, Petersburgh, Va., De. ville Ky., Chicago, III., Toledo, O., We troit, Mich , Havana, and elsewhere. Enhave heard of no run upon any New gland banks thus far. The policy of the government remains the It is estimated that by of bonds and other means, unchanged. purchase New Yook there has been made available in $34,000,000 [more than when the crash first came, and Secretary Richardson thinks if this has not affected the stringperceptibly, no sum which the gov. eroment ency has at its disposal, even though would drawing heavily on the reserves, have the effect to ease the money market, materially. Gold, that sensitive thermometer of business prosperity and credit, went up, on Saturday, some four per cent, though The closing, Saturday night a little lower. of fluctuation is, perhaps, only the result it reaction from the high price to which went. There is but litte sympathy, in the country. with the demand for an extra session of Congress. That calamity should there be averted if possible, especially if is danger of a repetition of the disgrace- last ful legislation, in other forms, of the Congress. On the whole we may feel assured that the worst of the crisis is over. We must expect tight times and many failures and some suffering for some time to come. This ought to prepare us for the exercise of a broad Christian philanthropy, reaching to the extension of charitable aid to all who may need assistance, if there are such. The following is the list of failures 80 far as we have heard New York, Jay Cooke & .,bankers Richard Schell, stock-broker; Robinson & Suydam, stock-brokers Fisk & Hatch bankers; Henry Clews & Co., bankers; White, De Frietas & Rathbone, brokers; EuBeers & Edwards, stock- brokers J. Jackson, broker; Theodore Bergene dell, broker S. H. Smith & Seaver, ers Thomas Reed & Co., bankers Hay & Warner, bankers; George Connor, H. banker ; George Bolton, banker W. bankWarren, banker Vernam & Hoy, Greenleaf, Norris & Co., brokers; ers George B. Alley, broker A N. Kidder, banker Day & Morse,bankers and brok- of D. Randolph & Co., the ers; Pennsylvania E. ; railroad bankers company National bank of com. the Union Commonwealth Trust Company: National Trust bankers; pany; Edward Haight & Co,, E. Brown, Wadsworth & Co., bankers; C. Morehead, banker : C. G. White & Co., brokers Ketchum & Belknap,brokWilliams & Bostwick, brokers; & Walsh, brokers broker J. M. ers; Miller Josephs, Myers Lawrence & Co., Fearing & Delling, brokers; Fisher & Co., bankers; & bankers; Tanssig, & Anderson, Fitch Co., brokers Whittlemore brokers ; Jacob Little & Co., brokers. Philadelphia, Jay Cook & Co., bank. W. Clarke & Co., Haven ere; E. & bankers Bond De Brother Gelbough, E. & H. North; J.S. and H. Charles P. Bayard Co; Yerks George H. H. John Bull P. Lloyd Henry M. Douglass; Union T. C. Knight : Henry L. Fell; banking company. Pittsburgh, Pa., Security Trust com. pany; James T Brady & Co., brokers. Buffalo, N. Y., H. W. Burt & Co., bankers and brokers, Petersburg, Va., Four banks, the Merchants' National, First National, Pianters and Mechanics', and the People's. Washington, Jay Cooke & Co., bank. ers; First National bank. Chicago, Franklin bank. Cincinnati, Taussig, Gamp & Co. Burlington, lowa, City savings bank. Albany, N. Y., J. Squires & Co. bankers. Teronto, Out., H. J. Morse & Co., bankers. Williamsport, Pa., Powell & Co. Woburn, Mass., Horace Conn.

16. October 3, 1873 The Andrew County Republican Savannah, MO
Article from The Andrew County Republican, October 3, 1873

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curring that showed how futile was the wieh. Early in the morning, reports of the suspension of banks again began to come in from all parts of the country This news did not reach the general public until the afternoon, but bankers and brokers were early advised and warned by it. It is known that every country bank with a balance to its credit in New York made drafts for it, 80 that the total aggregate country demand was $200,000,000. Such a demand was unprecedented, and not to be met. Upon many bankers the run was instantly and secretly beguli. The crowds in the streets were doing nothing to avert the impetiding disaster. saying nothing of that which was undermining and destroying many of the largest and best-known banks in the city. Toward noon it became whispered that a ritn was being made upon Henry Clews & Co. It is asserted that Clews paid out during the morning nearly $1,000,000 on demand. and then went about the "street" with mercantile paper endeavoring to raiec more funds. But no man knows how his fellow-merchant stands, and the offer to pay 2 per cent. a day-780 per cent. a year-for loans upon good mercantile paper were laughed at. Clews could realize nothing ou doubtful railway securities which he held, not anything upon worthless Georgia bonds, which he has led others into taking, and for which he was stnck about $1,000,000. He failed in every legitmate effort to raise money, and, being without hope of further aid from the Government, he closed his doors at half-past 2 o'clock. The fact of the suspension created as much excitement as the suspension of Jay Cooke & Co. The news left the street, at the close of business, in a condition of great excitement, and the headway made in restoring confidence was in a great measure lost. The run on the savings banks continued today, but. as most of them adopted the time rule for paying depositors, the excitement soon subsided. There is endless confusion, wild speculation, absurd proposals, loud threatenings, ominous prophecies. These indicate the clamor at the Fifth Avenue Hotel this evening, where the whole city seems congregated in condensed, compressed, confused agitation. The prospects for the morning are gloomy enough. There is depression everywhere : and yet it cannot be said that the actual financial situation in New York warrants this depression of the public, After the failure of Clews was announced, the city was flooded with a great many rumors, involving the credit of such men as Opdyke, Vermilye, Howe. and Macv. and others who are believed to be substantial and round. THE SITUATION IN PHILADELPHIA. PHILADELPHIA, Sept. 23. -The financial crisis here is over, and bankers and brokers are transacting business as usual. All the State banks that were under temporary difficulties have resumed. except the Union and Citizens'. The latter will soon resume. All the National Banks stood firm, and no doubts were entertained of their etability. Neither Jay Cooke & Co. nor De Haven & Bro. have as vet issued any statement of their affairs. The invariable reply to inquiries as to the probable date of euch issue is, We cannot say; our clerks are busily engaged on it." Some few unfeeling persons are parading around caricatures of Jay Cooke after his failure. representing him with head cast down, knees almost drawn up to his chin, and seated on an old box, in evidently a very abject state.

17. December 5, 1873 River Falls Journal River Falls, WI
Article from River Falls Journal, December 5, 1873

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At Large. THE U.S. steamer Ossipee and monitor Mahopac have sailed for Key West. IT is estimated that 80,000 French Kanucks have returned to Canada from the United States during the past three weeks, owing to a stoppage of manufactures. A large proportion of them left for Western Canada. THE inability of the contractors to get money has compèlied a suspension of work on the Poughkeepsie section of the New York, Boston and Montreal Bailroad. THE New York Times savs the fact is well authenticated that the banking firm of Henry Clews & Co., having made satisfactory ar. rangements with most of their numerous creditors, contemplate a full resumption of business within a tew weeks. The presentation of the affairs of the house made to creditors have sverted any unfavorable action. The house has resources and opportunities to presume to recover its extensive business, and with a reasonable extension of time to pay full one hundred cents on the dollar. BY an arrat gement of the Eastern Railroad of Massachusetts, the Portland and Ogdensburg, and Montreal and Sorrel Railroads, a through trunk railway has been insured between the West and the Atlantic. Negotiations have been some time in progress. GEN. BANKS and Alex. H. Stephens both favor the acquisition of Cuba. They think that under the care of our government the population of the ialand will in a few years incroase to 10,000,000; and that while Spain now derives from the island a revenue of about $25,000,000 annually, it would yield to the United States in a short time at least a bundred millions. IN the United States District Court, at Philadelphia, Jay Cooke & Co. were declared bankrupts, and J. Gillingham Fell was ap. pointed receiver. The Judge intimated that future proceedings will be held under the forty-third section of the bankrupt act, which authorizes the appointment of a truetee commission by creditors. A TELEGRAM from St. John says the telegraph cable steamer Robert Lowe was lost near St. Skaits, St. Mary's Bay, on Wednesday morning. The chief officer and two boats were saved. The captain and two boats are missing, The steamer Cabot was dispatched to search for the missing boats. E. H. BEIDERMEN & Co. have instituted legal proceedings against Daniel Drew, Eugene N. Robinson, and S. H. Alden, charg. ing them with fraud and misrepresentation in regard to large transactions in Canton stock. It is alleged that Robinson was used by Drew to saddle the stock on Beiderman & Co. after Drew had positively agreed not to sell any of his stock, but would buy more. The difference in the dispute amounts to one million dollars.

18. December 12, 1873 The Andrew County Republican Savannah, MO
Article from The Andrew County Republican, December 12, 1873

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FINANCIAL AND INDUSTRIAL. A NUMBER of mills at Troy, N. Y., employing in the aggregate 5,000 men, have resumed work within a few days. HENRY CLEWS & Co., the suspended Now York brokers. are about to resume. JAY COKE & Co. have been declared bankrupts, and a receiver appointed. CONGRESSMAN HAWLEY, of Illinois, will introduce a bill in Congress authorizing free banking. A WASHINGTON dispatch says the Western and Southern Congressmen are almost unanimously in favor of the passage of a bill increasing the volume of the currency $100,000,000 to $150,000,000. SENATOR FERRY, of Michigan, member of the Senate Committee on Finance, proposes, as a remedy for our monetary illa, to issue eight hundred millions currency, convertible into bonds bearing 3 65-100 interest and to be exempt from taxation. THERE was an increase in the public debt during November of $9,028,576.

19. January 6, 1874 The Daily Argus Rock Island, IL
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Changes Proposed in the Bankrupt Law. I Precedents for Back Pay and Salary Grabbing. The N. Y. Bar will consider Mr. Williams's Case. Henry Clews Resumes. The Unemployed in N. Y. Meeting of the Ohio Legislature. WSHINGTON, Jan. 5. -The substitute for House ey a Committee, act, the reported provides bill by repealing the for Senate the number bankrupt- Judiciary of amendments to the present law, the most important of which are the following That it shall require the action of onefourth of an insolvent's creditorsi in number or one-third of the amount of the debts to force him into bankruptcy, instead of a single creditor or debts to the amount of $250, as now the protested paper may run sixty days instead of 30 days, as now. Whenever a majority of the creditors agree to take the case out of bankruptcy they may do so. The courts are empowered to a r permit any number of creditors to make e composition of their claims in the case of involuntary bankruptcy. The term of four months mentioned in section 35 of the e old law shall e changed to two months,and e the period of six months therein changed ic to three months. The first of these provision is not to take effect until two months, d and the second until three months after R. the adoption of this act. The bill provides for the reduction of fees, compositions, y n charges, and all allowances, excepting the IS actual and necessarv disbursements of and or to be made by officers, agents, marshals, ly messengers, assignees and registers. The ot bill also provides that this section shall be e, and remain in force until the Justices of pthe Supreme Court of the United States ut shall make and promulgate new rules in reup spect to these matters. The House Committee on appropriations to-day finally disposed of the Army Appre priation bill and reduced the estimates oyer . four millions, The message sent by the President to the House to-day, transmitting the corres pondence and other papers relating to the Virginius matter, gives a plain, succinct history of the case with all the features of which the public are already familiar. The correspondance, &c is exceedingly voluminous, but really adds nothing to the facts already made public. The statement submitted to the Senate to-day by the Secretary of the Senate relative to past legislation concerning the salaries of Congress, shows the various rates 1ph of compensation fixed for Congress at vadies rious times, and shows that of the acts increasing the salaries, the following were retroactive Act of March 10th, 1796, retroactive for six days of March, 1816, for one year and 15 days of January,1 for 53 days of August, 1856, for one year, DAY e of five months and twelve days; of September, 1869, for six months and eighteen days; of March 3d, 1873, for two The average compensation and allowances of all kinds to Senators under the act of July, 1866, was $6,625. and under ng the same act where the Senators drew mileage for special session, $6,922. The herit average total compensation under the ac of March, 1873, is estimated at $7,600 estimated traveling expenses included Ea CR. There is no record in the Secretary's offic ES. showing that any Senator returned hi back pay to the treasury under any of th above acts except that of March. 1873. HAVANA,Ja 5. -The overthrow of th Castelar ministry is favorably received i Havana. The Casino Espanel is especial CO. ly jubilant. The volunteers are evidentl in favor of a monarchy. Crowns on th sterns of the Spanish vessels in the harbor which were painted over when the Repub lic was in vogue, are now being regilded The imperial Spanish coat of arms ha again been placed on the palace of th ch Captain-General. NEW York, Jan. 5. -The Bar Associa tion will, in a special session to-morro night, consider the nomination of Mr.Wi liams for Chief Justice. Henry Clews & Co. resumed busines day. Etc. The procession of workingmen, wl J. gathered in Union Square this mornin marched to the City Hall, where, after se eral ineffectual attempts of their commi tee to see the Mayor or the heads of the PUBpartments, they finally dispersed after solving to hold a grand demonstration Thursday next, papers COLUMBUS, Jan. 5.-The General A erned, sembly convened this morning. Geo. Converse, of Franklin, was chosen Speak f! of the House, Thomas Coughlin, of Cra which ford, Chief Clerk. As soon as the organization was comp ted a resolution was offered asking Congre to $1.50 to repeal the salary bill. Referred .75 special committee with instructions mbug. amend SO as to censure the President Rock signing the bill. ACH. The Senate elected S. K. Donovan, Delaware, Chief Clerk. CINCINNATI, Jan. 5.-An Enquirer 'S ial to night from Mansfield reports the covery to-day of a deficit in the accounts County Treasurer R. H. Rowland,of $1 000. on.

20. January 16, 1874 Sunbury American Sunbury, PA
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During the past year American timber. in various forms. to the amount of titteen million of dollars, was exported to Eng. laud. It costs two thousand dollars to bury a Congressman at Washington. Just now, however, the country would make a good speculation by getting several of them decently interred at that figure. The State Grange of Patrons of Husban dry closed its session at Harrisburg Friday last, to m et at Williamsporta year hence. In the business transacted was the adoption of a new constitution. in which was defined those eligible to membership. A number of additional deputies were appointed to constitute subordinate granges, and re 8 lutions a.lopted calculated to organize them in every community in the Common wealth. The banking house of Henry Clews & Co. has resumed, and in a circular an nounces that it is ready to meet all its ob ligations in full. The house made a hereic stand at the outset, and suspended only at ter the most extraordinary exertions to avert the catastrophe. Gov. Hartranft has officially proclaimed the adoption of the new Constitution. The California Legislature has passed a bill authorizing the Governor to offer a re ward of of $15,000 for the capture of the notorious bandit Vasquez and his band. It is reported that Vasquez is in San Franeisco at the present time. The aggregate amount of the late sales of pews at Plymouth Church was $59.430, against $59.306 50 last year, making an in crease of $123 50. Mr. Beecher has, there fore, been vindicated under the hammer.

21. October 24, 1874 New Orleans Republican New Orleans, LA
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NEW YORK. -Buying up the Carliets. NEW YORK, October 23.-A reliable special says the Madrid government sent $ ,000,000 for distribution among the Cari. ist chiefs to cease the war. How Neymour Was "Counted Out." The friends of Dr. Seymour claim a ma. jority among the bishops, but say the peculiar way of voting by dioceses and orders defeated him. Clews Assigned, and is Enjoined. Henry Clewe & Co. has assigned to Frederick Taylor, for the benefit of their creditors. Judge Lawrence cites Henry Clews for explanation and enjoins him from dis. posing of his property. The sheriff is in possession to prevent him from delivering property to the assignee or entering the premises. Later. The doors of Henry Clews & Co.'s bank. ing house are closed. No business is being transacted there this afternoon. The office fects are still in the hands of the sheriff. It is said that the difficulty between the tirm and creditors will shortly be arranged. The Episcopaliaus Again. The Episcopal congress order the sending of delegates to the Canadian provincial synod. Five hundred laymen petition against the restraint upon the ritual, as it now exists. Hamilton, the Defaulter. Alexander D. Hamilton. the defaulting treasurer of Jersey City. has returned, and given himself up to the authorities. He absconded last February, with $80,000. and has been in Matamoras, Europe and California, and tired, at last. of an outcast and roving life. He was fleeced out of $20,000, by a guide. between Corpus Christi and Brownsville. Convicted. Rev. John Cowan. formerly chaplain of the Sixth New York Artillery, and John Kehoe, were today tried in the United States Circuit Court for attempting to defraud the government of a thousand dollar bond. They went to the sub-treasury with a fragment of a South American bond, pretended it was a part of a United States bond, the remainder of which had been ac. eidentally destroyed, and Bonght to collect its face value. A verdict of guilty was ren. dered and the prisoners remanded for sen. tence.

22. October 29, 1874 The Democratic Press Ravenna, OH
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THE DEMOCRATIC PRESS! SAMUEL D. HARRIS EDITOR AND PUBLISHER. RAVENNA, THURSDAY, OCT. 29, 1874. SNOW fell at Laramie and Cheyenne on Tuesday. NINETY thousand people are out of employment in New York City.. THERE are 150,000 acres of timber leveled annually for railroad purposes alone. THE Seashore Seminary at Handsboro, Mississippi, was burned on Thursday. GENERAL Dix has yielded to the pressure, and declared against a third term. THE Ogden House, at Council Bluffs was destroyed by fire on the 21st inst. Loss $80,000. THE Presidents home organ declares against any declaration by him that he will not run for a third term. THE Souhegan National Bank, at Milford, N. H., was robbed a few days ago of $120,000. IT is reported that the Government of Uraguay is about to issue $4,000,000 of paper money. THE majority of Garfield in this District is 2530. A slight falling off from 10,934 is 1872. THE Banking firm of Henry Clews & Co., of New York, is said to have made an assignment for the benefit of its creditors. THE Maijie, from Pundee for Rangoou, was wrecked in the Hebrides during the late gale on the coast of England, and twenty-four persons on board drowned. THE Phonix Woolen Mills, at Seneca Falls, New York, were burned on Friday morning; Loss $50,000; partially insured. THE propeller Brooklyn, bound from Cleveland for Chicago, exploded her boiler at Detroit, Friday morning, by which ten persons are supposed to have been lost, and eleven others seriously injured. COMMODORE William Inman died at Philadelphia, on Friday. He entered the navy in 1812, and at the time of his deach was at the head of the Commodores on the retired list. COMMODORE Austin Pendergrast, commanding the receiving ship Potomac, died at Philadelphia, on Friday night, of pneumonia, after a brief illness. He was a nephew of Commodore G. J. Pendergrast, born in Kentucky, and appointed from that State in 1848. A ST. PAUL dispatch dated the 23d, says: A special to-night savs the town of Marshal, situated at the Red River crosssing of the Northern Pacitic Railroad, is in imminent danger from prairie fires near by. Attempts to check the fire prove futile, as the wind is too high. -

23. December 2, 1874 The New Orleans Bulletin New Orleans, LA
Article from The New Orleans Bulletin, December 2, 1874

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MISCELLANEOUS. MANCHESTER, N. H., Dec. 1.-The various manufacturing companies of this city, which, with the exception of the Manchester Mills, have been running but five days per week for some time past, will, it is understood, begin running on full time this week. BOSTON, Dec. 1.-To-day is the coldest of the season throughout the East. Thermometer ranging from three degrees below zero to seven above. COLUMBUS, O., Dec. 1.-The Legislature met to-day. HENRY CLEWS & CO.-MECHANICS DISCHARGED. NEW York, Dec. 1.-In the United States Court to-day, before Judge Blatchford, Messrs. Henry Clews & Co., having failed to answer in bankruptcy proceedings, were adjudicated bankrupt, on petition of Arthur Cooper, trustee of their London firm, and fifteen creditors in this country, who state that they represent one-quarter of the number, and a tuird in amount, of the creditors. Between three and four hundred men have been suspended at the Brooklyn Navy Yard.

24. January 15, 1875 New-York Tribune New York, NY
Article from New-York Tribune, January 15, 1875

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NOT A DEBTOR TO HENRY CLEWS & Co. CARD FROM TH E REV. DR. OSGOOD. To the Editor of The Tribune. SIR: I have observed my name published twice in THE TRIBUNE among the debtors of a suspended banking house of this city. I write to say that I am not a debtor of that firm, and I have the written assurance of the leading partner of that house that I am not, and that the error was unintentional on his part. Merely remarking that it is not particularly agreeable to a quiet scholar and preacher to be brought before the public in this way, I remain SAMUEL OSGOOD. your reader and friend, New-York, Jan. 13, 1875.

25. September 25, 1875 The New York Herald New York, NY
Article from The New York Herald, September 25, 1875

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A Very Serious Matter. In the year 1870 Henry Clews & Co., bankers, of New York and London, were appointed financial agents of the United States in London, the deposits of the government being taken from the house of the Barings, who had held this confidential and responsible position almost ever since the foundation of our government. The change, made suddenly, and, so far as the public knew, without cause, attracted unpleasant comments at the time. It was commonly said that the appointment of Clews & Co. was the reward of political service, and during the panic of 1873, when the house failed, Mr. Clews was conspiculously spoken of as the personal friend of the President and the Secretary of the Treasury. On Thursday, on a hearing of creditors who opposed the discharge of the firm of Clews & Co. under bankruptcy proceedings, appeared Benjamin H. Cheever, of Washington, and on his own account and that of James Van Buren presented an unsatisfied claim for one hundred and forty thousand five hundred dollars for each as their share of the profits made by the house of Clews & Co. through being financial agents of the government, and as a voucher for this claim exhibited the following agreement:Should we be appointed by the United States government its financial agents in London, Paris or Frankfort, we hereby agree to divide the profits of the same with B. H. Cheever and James Van Buren, onequarter each, they being partners in such proportion. HENRY CLEWS & CO. WASHINGTON, D. C., March 27, 1869. It is not pretended, we believe, that Cheever and Van Buren were partners in the house of Clews & Co. What, then, is the nature of their claim? For what reason should Clews & Co. promise them one-balf their profits from their dealings with the government? Mr. Boutwell was Secretary of the Treasury when Clews & Co. were made financial agents in the place of the Barings. Tf the document shown to the creditors is genuine will it not be necessary for Mr. Boutwell to explain ? The selection of Clews & Co. in place of the Barings excited astonishment when it was made. Now, in view of these agreements, if they shall prove authentic, it will excite even less agreeable feelings.