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IN ILLINOIS. THE FINANCIAL OUTLOOK IN CHICAGO-SENSATIONAL RUMORS UNFOUNDED-CHICAGO's BANK POLICY THE SAME AS NEW-YORK'S. [BT TELEGRAPH TO THE TRIBUNE.] CHICAGO, Sept. 25.-It must be acknowledged that. notwithstanding the aspect of financial affairs in this city is, on the surface, much the same as yesterday. there has been an important change in the general feeling. Yesterday there was undoubtedly confidence that the unreasonable currency panic would gradually subside, that gradually more and more currency would find its way into the banks, and then in turn they could gradually pay out currency more liberally to every owner of a back balance. But much of this confidence was destroyed by the publication by a sensational sheet this morning of the statement that the Chicago bank had suspended payment. The utter falsity of the statement was shown by the fact that this morning every bank in the city was open and doing business just as they had been doing since Monday morning. The [false report of the suspension of business of the Chicago banks seems to have been telegraphed early this morning to all parts of the country with an alaerity that savors of a preconceived design to force the banks to suspend. At an early hour private dispatches began to come to the banks from everywhere making the inquiry, Have the Chicago banks suspended? The unanimous reply to this from the banks here was: " No; banks all open and doing business as usual." It was too late, however, to prevent the effect of this incendiary report and before noon those effects were shown in the telegraphic report of the run on the banks of Memphis and the suspension of payments by the banks of NewOrleans. The report in question had no foundation except a resolution, not unanimously assented to by the members of the Clearing house Association, at a meeting last evening. The resolution. itself amounted to nothing but a declaration of facts which have been publicly known to exist for the last three days, viz.: that owing to the scarcity of currency the could not pay large demands This not the announcement of any new banks was from for departure, currency. what or change in the feeling of the banks had been the rule for three days. Moreover, it was not the acknowledgment of any secret. The position of banks has been for two same as that of the New-York public's to the be Chicago the days banks; for known that few is, they cannot pay large checks in currency a days until the currency excitement is over. The effect has of sensational reports above referred to been unfavorable to the The in this city to-day have all undoubted the banks situation paid currency to-day. small checks, but as to what is a small check there is on a great difference of opinion at different one bank a small check means $25; at another it may mean banks. probably At of $500, man's $25, $1,000 at one bank means or 10 per cent a or balance, and at another 25 or 30 per cent. As a general thing city depositors have been able to get all the curreney which their real necessities called for. What is to be the net result of this doling out of curby the banks is a point upon which there them- is a rency diversity of opinion among bankers great A few banks that were fortunate enough selves. have a comparatively large stock of currency to when the panic began, and have been exceptionally since, fortunate in getting hold of considerable amounts to feel confident that they can go through meet any. seem and that they will be able to thing, demand their customers will make. But any fully two-thirds of the banks that in with this city it must be acknowledged that they believe that the currency is being gradually driven out, and though perfectly solvent they cannot be expected is do impossible things. Their argument the to currency will not begin to come into that until confidence is in a measure restored, and that the f banks only thing that will restore confidence is for know the banks to cease trying to do what their depositors a impossible, viz., pay currency for all their deposits deal of There is undoubtedly a great into the city to merchants. is at currency once. coming Some can guess of it is deposited by them in the banks, but any man deposit how much by asking himself whether he would currency in a bank now or not. There is, of well course, of the quotable money market now. Borrowers as market. as lenders no for ordinary purposes are out of the D 11 speculation in grain, money is worth anywhere the flue For 100 to 300 per cent per annum, according to from of the difference between the price of grain t tuations and October. The situation, however, is by no of for cash hopeless, even in respect to the continuance 1 means payments on a limited scale for the present hope y currency gradually increasing the amount. The main and Chicago banks now lies in getting currency abated le of the the East. The excitement has much e from New-York, and if the advices from there to-morrow g in be favorable, and the New-York banks respond should the demand of the Chicago banks for currency, to to loss of confidence will be quickly regained made the The clearings of the banks were the last e morrow. without any more difficulty than for the fe to-day, days. There was some talk to-day among nt III three banks of adopting the plan of issuing Clearing-house Ie certificates for the settlement of Clearing-house of but there 18 no unanimity the er feeling, balances, and nothing was done about it. This is 8; W8 difficulty with the Chicago banks in the present they ds great emergency-they are not united. On the contrary are trying to get the advantage of each other. y-
