d102ec3eFull suspension
Other: Affairs briefly assigned under a deed of trust to Otho H. Williams; bank later resumed operations.
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ANOTHER SUSPENSION. Messrs. Lancaster & Co., bankers and stock brokers, suspended this morning in consequence of the suspension of Brown, Lancaster & Co., of Baltimore, which was announced by telegraph in this morning's papers, and the suspension of the firm here was looked for as a natural consequence, and produced no excitement.
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Purchase of Government Bonds Saspended-7-40 Bonds not to be Antici pated-More SuspensionsDry Goods Merchants Sound-A Run on the Savannah Banks-They Hold Out NEW YORK, September 25.-Mr. Hillhouse says he has exhausted the orders to purchase bonds, and will await further orders. A portion of the registered European mail, per the City of Montreal, was badly damaged by the breaking of a large bottle of iodine, which escaped the notice of the mailing clerk. A large number of letters containing checks, bonds, &c., are stained a deep brown, and the writing is rendered unintelligible. The dry goods merchants report trade dull but sound. The rumors of failures among them are groundless. The morning journals take a very hopeful view of the financial situation this morning, and it is the general impression that the panic is over. The members of the firm of Jay Cooke, & Co. meet daily, and have decided not to sacrifice their securities in order to meet their obligations, but to wait the restoration of public confidence. Mr. Howes, of Howes & Macy, say they have the best securities, but don't propose to sacrifice them at current rates. There is no stock board to-day. The following notice is on the door of the sub-treasury: "Purchases of bonds at this office are for the present suspended." In an answer to enquiries the sub-treasurer states that he cannot say whether any purchases will be made to-day, until he is advised from Washington. WASHINGTON, September 25.-It IS stated that Secretary Richardson declines anticipating the 7-40 bonds, which mature in December and January. The Washington City savings bank, known as J. R. Ruff's, after five days run, has posted the sixty days' notice clause. MEMPHIS, September 25.--The - First national bank of Memphis has suspended. SAVANNAH, GEORGIA, September 25.-A run commenced early this morning on the savings departments of the Savannah bank and trust company and the Southern bank of Georgia. They are paying dollar for dollar. Business is at a complete stand-still for lack of currency. Large crowds are congregated about the banks. BALTIMORE, September -Brown, Lancaster & Co., well-known bankers of this city, and agents of the Chesapeake and Ohio railroad, having branch houses in New York and Richmond, suspended yesterday afternoon.
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The Financial Situation, There was generally a calmer feeling, in financial circles Wednesday, and the loan certifica'e policy adopted by the banks in Philadelphia and other cities inspired hopes of a speedy progress towards recovery from the panic. The New York Stock Exchange will remain closed until further notice. Two suspensions were reported Wednesday in New York-Howes & Macy, and Brown & Watson, gold brokers. The suspensions reported elsewhere were Brown, Lancaster & Co., at Baltimore; Brown & Gray, at Willkesbarre; and the Dollar Saving Bank, and Isaace, Taylor & Williams, at Richmond, Virginia. The policy of suspending the payment of currency by the banks, except in small amounts, has been adopted in Baltimore and Richmond. In Chicago and Cincinnati the financial condition is reported sound. Not a single case of failure or embarrassment is reported in mercantile circles anywhere.
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card on their door gives the failure of Henry Clews & Co. as the cause, but states that the firm will be all rightjin a few days. The mining classes are large depositors, but have not yet learned of the suspension. Much excitement exists among bankers and business men. The Locomotive Scare. PATTERSON, Sept. 23.-Four hundred and fifteen more men are to be discharged from Roger's locomotive works to-morrow, making one thousand men laid off this week, or two-thirds of the whole force. The Danforth and the Grant works have not yet decided to discharge any of their workmen. Washington. WASHINGTON, Sept.24-The Freedman's Savings Bank to-day determined that it will require 60 days notice from depositors to withdraw money. Milwaukee Stands Still. MILWAUKEE,Sept. 24-There was a large attendance upon the re-assembling of the Chamber of Commerce this morning. The following resolution was offered and adopted almost unanimously: Resolved, That this Board stand adjourned until Monday next, the 29th inst., under the resolutions of Monday last, unless sooner called together by order of the President and Board of Directors, provided that nothing in this action shall be construed as interfering with the settlement between parties of existing contracts and the calling and putting up margins, and this Board recommends that all outside trading be discontinued. Chicago Cautions. CHICAGO, Sept. 24.-All the day has been a very quiet one on 'change and the prices of all grains have declined. There has been a marked absence of excitement and a continued feeling of confidence on the part of nearly all the members of the Board of Trade. Last evening there was some agitation of a proposition to close the board for a day or two but the movement amounted to nothing. The Board of Directors today recommended to the members that business be conducted on as conservative a basis as possible and that efforts be made to adjust outstanding bills matnring the present month on some basis; that transactions be limited to the settlements of outstanding contracts and to sales of property for cash and that in all transactions a liberal and reasonable confidence be extended where the same would under ordinary circumstances be proper. These recommendations were received with general expressions of favor and have been followed with great unanimity, so that there will by to-morrow night be very few outstanding trades to settle. There are now fewer outstanding than at any time since the fire. The holders of cash grain are indisposed to sell at present prices, and this, with the inability to negotiate exchange, prevents the filling of orders for grain now here. There is a general feeling of relief that the day has passed in New York 80 satisfactorily, and renewed confidence in the ability of the bankers and merchan's of Chicago to pull through all right. There have been no failures of merchants or grain dealers. The banks all went through the clearing house to-day and are in good hope, and there is an almost universal feeling that the storm has passed by. Brown, Lancaster & Co. BALTIMORE, Sept. 24.-Brown, Lancaster & Co., well known bankers in this city, and agents of the Chesapeake and Ohio Roilroad, having branch houses in New York and Richmond, suspended this afternoon. The firm state that suspension was caused by unexpected and unprecedented run. It is said a statement will be made to-morrow.
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Brown, Lancaster & Co., well-known bankers and brokers in Baltimore, and agents of the Chesapeake and Ohio railroad, having branch houses in New York and Richmond, suspend ed yesterday. The firm state that the suspension is caused by an unexpected and unprecedented run.
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The Financial Crisis. 24. The fact that the banks one that failures are have New no gone York, further through night announced, thus far, gives and of financiers and generless anxious appearance, ally to the a faces the and street The the feeling street is some of its excitement. of following the of and their suggestions to the losing improvement banks resolutions the departsudden. It is hoped that will accede to the request payury ment was inasmuch that the the Treas1874 bonds be made, as it is that the ment understood be of borne by difference This in would interest will the holders. at the dead lock in foreign exwhich is at present change, once relieve dislocated. their Leading drawers here reduced rates for sixty day bills to 107, and of sight to 1073-4. The Clearing House committee here issued $2,500,000 in loan certificates to-day, making a thus far since Monday of The governing of met at ten $12,000,000. total o'clock committee morning, to hear the of the conference rethe stock report exchange committee Friday in and to some method of clearing business, but the were with their plan and Saturday's gard not ready committee the governors adjourned until to-morrow morning. The stock exchange remains closed until further notice. During the halt hour proceeding the official closing of business at P. M., various stories were in circulation affecting the of both and American foreign banking solvency malicious houses has hitherto escaped but the day was to a suspensions. report, without whose credit further brought This gain of close will and the is commended as an banks be of vast strongly advantage, further action disaster earnest the and united effort to prevent and restore order again to existing chaos, The assurances given by the leading dry houses and those interested of that no goods branches commerce, the trouble in exists other in departments, despite various rehave done much in conports, those alleviating measure the acdition of Wall street, and in a counts for the quiet state of affairs at the closing. London, 24-7.30 P. M. Despatches from Frankfort quote 5.20s at 96 1-2. The cable despatches announcing the suspension of the firm of Clews, Habicht & Co have no effect on the street. London private despatches state that advices from Berlin announce the failure of a bank in that city. The 138,000 pounds drawn from the bank of England, was for shipments to New York. 20,000 pounds was also shipped to the same place. New York. 24. The committee of the stock exchange appointed to confer with the Closcommittee in regard to re-opof the stock exchange, have ing ening House the addressed in which a long communication, that the true way to is that those banks content to difficulty, the they latter suggest solve make the the with each other, to their associated of checks certified clearances extent of capital, should, by the guarantee banks, enter the Clearing banks which assent to our allowed the enable payment the to House. into proposal To that are not entering an unof those whose limited to feel guarantee they condition would is now no time to investigate, we that the bank clearing be an than at present on hour there suggest earlier and made the weak- disof the Clearing House of any the part of a bank, the of covering ness on President notified the stock exchange should be at once that such a bank would thereafter be excluded from the guarantee of the association. To-day closed with signs of encouragement be although the feeling is any but what might wished. The Government has given no response fives to of the bank to redeem the of due the first of next Government has done to the that 1874, request the January has been All buy $11,883,000 of five-twenty bonds, of which $2,611,750 were got to-day. If no fresh outbreaks occurs, there is still for the merchants, although all fears the hope would be dispelled by prompt action of Government. The evening papers call on the President i to call an extra session of Congress to take 3 measures to relieve the panic. The feeling on the street continues strong) in favor of keeping the stock exchange closed. ly In fact this measure is absolutely to save any fresh necessary excitement. The banks to-day paid the manufactures rolls in green backs. One on the American 000 pay to-day, demand. Exchange draft of $13,- National Bank, was paid on e Washington, 24. Many who drew deposits from the banks here have returned them. 6 Baltimore, 24. Brown, Lancaster & Co., and brokers in this city, and agents bankers of the Chesapeake and Ohio Railroad, having branch houses in New York and Richmond, suspended this afternoon. n TELEGRAMS IN GENERAL.
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S restored to financial affairs, which it is believed will be in the course of a few weeks. The company has felt that this course would best subserve the interest of all parties concerned, and we have no doubt it will be so regarded by all who feel concerned in this important work THE SUSPENSIONS IN PETERSBURG. On Saturday the country people took alarm at the crash in New York and commenced a run on the Merchants' Bank and drew out $40,000. On Monday they pursued a madder course and on Tuesday the bank closed and goes into the hands of a receiver. Its breaking was t ollowed by First National, Planters & Mechanics', and Peoples Saving Banks which went down. The firm of Plummer, Young & Co., one of the largest hardware houses in the South went to protest for $63,000 and other prominent firms names not given failed. A telegram to the Dispatch says: There are large quantities of paper in the banks on which the various presidents concerned in the railroad have borrowed money to carry their share of the burther of the railroad on the indorsement of each other. And thus is the railroad connected with the sudden collapse of the banking institutions. RICHMOND STANDING FIRM. In Richmond the banking house of Isaacs, Taylor & Williams was run upon Tuesday and suspended and the same way with the Dollar Savings Bank. To show the great folly of having forced the latter concern to close the foliowing exhibit of its condition will suffice The capital of the Dollar Bank is about $200,000, while they owe only about $40,000. Besides this extraordinary surplus of assets they have deeds of trust on one hun dred and eighty four houses in this city, each house being insured for its full value, and the life of the owner being also insured for the benefit of the company. They have also on hand a large amount of-as good bills receivable as the city affords. With such an exhibit stockholders and depositors may well be satisfied. No National bank in Richmond has suspended, and they are all in good condition and firm. The prominent merchants of the city held a meeting Wednesday and unanimously resolved to aid them and not to withdraw a single deposit. BALTIMORE. There are no failures in Baltimore, except Brown, Lancaster & Co., who are financial agents of the Chesapeake & Ohio Railroad Their branch house in Richmond also suspended. Baltimore National banks have banded together to resist any pressure that may come A SAD TRAGEDY NEAR HARPER'S FERRY -A sad tragedy, resulting in the fatal shooting of Miss Reed, an interesting young lady. aged about 17 years, daughter of John H. Reed, Esq. of Washington county, Md., occurred at her father's residence, opposite Harper's Ferry, on Saturday evening last It seems that Mr. Willis Allison, a young man from Harper's was at the residence of Mr. Reed on the in Ferry, evening question, and, in company with a little brother of the young lady, was playing with a double-barrelled shot gun, when Miss Reed addressed him and cautioned him that he had better put up the gun, or he might shoot somebody. Allison thereupon, as we are informed, drew the gun up to his shoulder and idly remarked that b would shoot her. when the gun was discharged and the young lady fell to the S ground and expired instantly, having received the entire charge of the gun in her breast, some of the shot penetrating her heart.-Charlestown, W. Va., "Spirit." CIRCUS ACCIDENTS.- Huntington,
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have suspended operati buy cotton. The First National Bank paid out as usual, and there appears to be no serious run on it. The president will pay as long as there is a dollar of currency in the vaults. There is confidence that it will weather the storm. The suspended banks have ample as-ets, and will meet every dollar of their liabilities. A meeting of merchants has requested the banks to issue some medium to bridge over the present crisis. The banking house of John J. Cohen has suspended. Assets ample. ATLANFA GA. ATLANTA, September 25. The Dollar Savings Bank has suspended. Its securities are ample. SELMA, ALA. SELMA, September The Selma Savings Bank has suspended. The assets are believed to be ample. CHARLESTON, S. C. CHARLESTON. September 25.-No run on the banks. The Freedman's Bank exacts sixty days' notice. Other banks pay as usual. NEW ORLEANS. NEW ORLEANS, September meeting of all the bank presidents except two resolved to pay no checks of over $100. Larger checks will be certified. This lasts thirty days. CINCINNATI. CINCINNATI, September 25.-The Cincinnati Clearing-house Association has just adopted the following resolution Resolved, That for the protection of our commercial interests, and for the purpose of preventing a drain of currency from the banksand bankers of this city, we do hereby agree to adopt substantially the plan adopted in New York--viz.: they will not pay out currency on checks except for small sums. to be optional with the banks upon whom they are drawn: but they will certify checks drawn on balances in their hands, payable through the clearing-house only. Each member of the Clearing-House Association is required to deposit such sum in approved securities as will at all times cover the amount of his clearings. Government bonds are received at their par value. Rsilroad and other stock and bonds and bills receivable: are received at 75 per cent. of the value fixed on them by the committee, Balwhich can only be used in settlement. ances between the banks are not negotiable. Matters were in a condition on Change today to render it difficult to furnish quotations. There was no panicky feeling whatover, but there is a general- feeling to stand still on the part of buyers and sellers of everything. The action of the banks here was generally unexpected. The discussion of thissubject consumed time. Therearesome who believe the course not a wise one, but the prevailing opinion is that it was precautionary measure, justified by the obligation which the banks owe to the general business community. MEMPHIS. MEMPNIS, September 25.-The First Na tional Bank of Memphis has suspended. Later.-On account of the monetary panic and the run on all the bank<, two of which have suspended, business is almost entirely suspended. ST. LOUIS. ST. LOUIS, September 25.-It was decided last night at a meeting of brokers to suspend the payment of checks or drafts, either in currency or exchange, until the excitement in the East subsides. and the former condition of the markets is restored. BOSTON. BOSTON, September The course of the banks here is simply conservative. Loans are reduced, but the urgent wants of business were met. NEW BRUNSWICK, N.J. NEW BRUSSWICK, September 25. The State Bank of New Brunswick has failed. DETROIT. DETROIT, September 25.-Two bankers have tailed here. FURTHER FROM CHICAGO. CHICAGO, September 24 Although the day has been very quiet on 'Change, and prices of all grains have declined. there has' been a marked absence of excitement and continued feeling of confidence on the part of nearly all the members of the Board of Trade. Last evening there was some agitatiou of a proposition to close the Board for a day or two, but the movement amounted to nothing. The Board of Directors recommended to the membe rs that business be conducted on as conservative a basis as possible and efforts be made to adjust outstanding trades matu ring the present month on an equitable basis: that transactions be limited to the settlement of outstanding contracts and sales of property for cash, and that in ali transactions liberal and reasonable confidence be ex tended where the same would under ordinary circumstances be proper. Tlie recommendations were received with great expresstons of favor, and have been followed with great upantinity by members of the Board, so that there will by to-morrow night be very few outstanding trades to settle. There are now fewer outstanding trades to settle than at any time since the fire. Holders of cash grain are indisposed to sell at present prices, and this, together with an inability to negotiate exchange, prevents the filling of large orders for grain new here. There is general feeling of relief that the day has passed New York so satisfactorily, and renewed confidence in the ability of the banks and merchants of Chicago to come through all right. There have been no failures of merchants or grain dealers. The banks all went through the clearing-house to-day in good sliape, and there is almost universal feeling that the storm has passed by. CHICAGO, September 25 The Chicago clearing-house tias adopted the following resolution Resolvé That until further action, and in view of the disturbed condition of affairs in New York and other cities, and theidilliculty in converting balances into currency, and on the advice of the bank examiner, our members be recommended and authorized suspend currency payments on any large demands made upon them; either from the country banks or over their counters." [Bx Mail.] BALTIMORE, BROWN, LANCASTER & CO.-COMENTS OF THE ^PRESS UPON THEIR SUSPENSION-STATE OF TRADE, [Baltimore Sun 25th.] The only suspension is that of a private
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in New York and other cities, culty in converting balances into currency, and on the advice of the bank examiner, our members be recommended and authorized to suspend currency payments on any large demands made upon them; either from the country banks or over their counters. [By Mail.J. BALTIMORE. BROWN, LANCASTER & CO.-COMMENTS OF THE PRESS UPON THEIR SUSPENSION-STATE OF TRADE, [Baltimore Sun, 25th.] The onls suspension is that of a private banking-house, Brown, Lancaster & Co., which took place. yesterday, the origin of whose troubles ante-dates the present crisis, They are understood to result mainly from connection with unfinished southern railroad enterprises. The house was first, some two years or more ago, interested in the projeeted Savannah and Memphis railroad, and more latterly had transactions as bankers and agents with the Chesapeake and Ohio road, for which the suspended house of Fisk & Hatch, of New York, were the chief agents, the bond of which road, however, it being tinished to the Ohio, with fair prospects for developing business at a steady rate within reasonable time, are yet saleable, and maintain quotations at the Stock Board. The members of the firm are geutlemen much respeeted in the community, and will have the general sympathy. Their affairs go into the hands of Mr. Otho H. Williams, as assigned under a deed of trust. Theouly obligations of the firm in this city are to one or two of the chartered banks, who hold collateral unavailable at present. (Baltimore American. 25th. As stated jeste day the banks continue to respired in legitimate business purposes, the unject its this partial ED pension being to preyent curs
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Items. COLONEL ORDWAY, of this city, is in Washington. NOTHING of importance occurred at the police court to-day. CAPTAIN JACK'S suspension to-day has no connection with the money crisis. A LOT OF LUMBER obstructs Ninth street, corner of Broad. It should be removed. A BROAD STREET BARBER advertises himself as a "professor of crinicultural abscission and craniological tripsis." ON SUNDAY NIGHT a party of sachems and warriors from Richmond instituted Metamora tribe, I. O. R.M., in Portsmouth. JONES SAYS that a new hat is "a felt want" for him this fall. Jones always indulges freely in the use of stereotyped expressions. THE RICHMOND stock board, which has been doing no business since the financial panic commenced, will resume its session on Monday. BROWN, LANCASTER & Co., of Baltimore, bankers, have resumed business. They are connected with the house of Lancaster & Co., of this city. RANGE OF THERMOMETER at Captain C. F. Johnston's News and Music depot, number 918 Main street to-day : 6 a. m., 60; 9a.m., 64; 12 m.,74; 3 p. m., 76. CAPTAIN J. HAMPDEN CHAMBERLAYNE, a native of this city, and late
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pressure of traffic is apparently as great as ever, while the sidewalks in front of the wholesale stores are cum- bered with barrels, bales, and boxes awaiting shipment. Nevertheless, the merchants with one accord say that trade is very dull. I am inclined to think, however, that the city is suffering less from the crisis than any other great commercial metropolis in the country. There is no complete prostration of business, except in two or three branches. The state of affairs may be described rather as an unu- sual dullness resulting from great caution on the part of both buyers and sellers-a dullness, however, that does not threaten disaster, but that is sensibly abating from day to day. All classes are shortening sail, not be- cause they believe a storm is coming, but because the weather is lowering and squally around them and it is well to be prepared for emergencies. Manufacturers have limited production, jobbing houses are carrying light stocks and are exceedingly wary about giving credit, and customers buy for immediate wants only. The conservatism of the business men of Baltimore has been spoken of in a previous letter to THE TRIBUNE. This characteristic enables the city to weather, without serious damage, financial storms that produce ru- inous effects in localities where speculation runs riot. There have been but three failures of banking- houses since the crisis began-those of Brown, Lancaster & Co., Wm. Fisher & Sons, and Richard W. Cox & Co., and the two former firms will probably soon resume. Only one mercantile house of any importance has suc- cumbed; this was the grocery firm of Thomas Kemp & Co., whose liabilities were less than $100,000. When the panie began there was a run on the savings banks, last- ing a part of two days, but these institutions were much too strong to be shaken. A steady drain upon them still continues; that is, the amount deposited does not equal that withdrawn, a circumstance always to be expected in hard times, when people who are out of employment are obliged to fall back on their savings to meet their pressing necessities. Money is scarce. On first-class collaterals, such as Governments and State and city bonds, it can be had at the rate of from 10 to 12 per cont per annum. Commercial paper is hard to negotiate, as high as from 15 to 18 per cent being asked for best names, while anything at all doubtful has to pay a ruin- ous rate. # WHISKY, COFFEE, AND PROVISION TRADES DEPRESSED. Among the trading and manufacturing interests, those engaged in the production or sale of articles of luxury naturally suffer most. The prostration of the oyster packing business has already been described in these columns. The whisky trade is greatly depressed. It is an important business in Baltimore. Fully 200 houses, large and small, are engaged in it, the annual sales amounting to about $6,000,000. The distilleries are nearly all running, but are doing very little. The Globe Distil- lery, the largest in the city, with a capacity of 2,400 bushels of grain a day, is now distilling only 200 bushels daily. Others have reduced their production in almost as great a ratio. The trade is largely with the South, and the tenacity with which the planters are holding their cotton for better prices makes money even scarcer in that section than in the North, and greatly reduces the demand for all luxuries. The tobacco manu- facturers say that there is almost nothing doing in their line. It is always the dull season with them at this time of the year, however, the French contracts, which make a large item in their trade, having been already filled. The very important coffee trade feels the effects of the crisis as seriously as almost any other branch of busi- ness. Baltimore is the second coffee importing city in the United States. In 1871 the importations reached the enorinous figure of 92.892,904 pounds more than double the amount brought to the three cities of Boston, Phila- delphia, and New-Orleans together. The importers are carrying pretty large stocks, and say that their sales are very light. A period of dullness is more serious for them than for men in many other lines of trade, because it is not followed by an exceptionally brisk demand. People who stint themselves in coffee when times are hard, do not make up for their self-de- nial when times are better by drinking more than usual. But why return to their ordinary habits? The pro- vision trade, another large item in the business of the city, is also seriously depressed. The customers for the 70,000 hogsheads of bacon, the 20,000 casks of hams, and the 30,000 barrels of pork, which Baltimore annually handles, are mainly in the South, and the dealers are puzzled to know what the people in that section are living upon, since they appear to have dispensed with these staple articles of Southern diet. One branch of the trade, the manufacture and shipment of refined lard, is still fairly active, the market for the article be- ing chiefly in Germany and England. The trade in grain and flour is almost at a standstill, but is showing signs of improvement. The coal trade is tolerably ac- tive. The coastwise shipments have fallen off, but the foreign demand is good. # FACTORIES LIMITING THEIR PRODUCTION. The jobbing trade is, I suppose, in about the same condition here as in New-York as far as the business doing is concerned. The merchants are, however, better abie to stand a dull season than those of most other cities. Their capital is usually their own, and their business is generally a cantious and safe one. They take few risks. A request for credit to the amount of $10,000 would astonish the largest house in Baltimore. Their customers are nearly all in Maryland, Virginia, and North Carolina, and having dealt with them for years they are thoroughly acquainted with their cir- cumstances. Manufactories of all kinds are, with few exceptions, in operation, but are limiting their production to the sup- piy of orders. The shrinkage of prices and the uncer- tainties of the future make every one timid and un- willing to accumulate stocks in anticipation of future sales. The piano-makers have closed their factories. The largest of these establishments, that of Wm. Knabe & Co., manufactures from 1,500 to 2,000 instru- ments annually. Its stoppage has thrown a large number of men out of work. The shoe factories, of which there are 26, have greatly reduced their force of workmen and work- women, and, unless there should soon be a revival of the Southern trade, will soon make further reductions. The railway companies have discharged hundreds of men em- p.oyed in their car and machine shops the Baltimore and Ohio road as many as 500, I am told. The railway officers report a good business, nevertheless, and say that they are doing about the ordinary freight and pas- senger traffic of this season of the year. At the Baiti- more and Ohio offices, I was informed this morning that the coal traffic last weck was considerably greater than for the corresponding week last year, and that the general freight traffic was fairly good and improving. The rolling-mills of the Company are working "double- turn," making iron for Western extensions. # AN UNUSUAL DEMAND FOR SAFES. I found to-day a curious exception to the general rule -a business that instead of being depresssed is actually more prosperous than ever, and that owes its increased prosperity to the very cause that makes others so dull. Walking down Baltimore-st. I dropped in to see an old friend who is engaged in selling fire-proof safes, and of course after the first greetings began to talk about the absorbing topic in mercantile circles, the dullness of trade, when he surprised me by saying that his business was unusually good-in fact, his sales since the crisis com- menced had been larger than at any time before. The reason was not difficult to find. People have lost confi- dence in banks, and are buying safes with the intention of being their own bankers and keeping their cash and valuables where they will not be squandered in bubble railroads or made away with by absconding cashiers. # ANOTHER PHASE OF THE MCGARRAHAN CASE. McGarrahan, who claims the vast quicksil- ver mining property now held by the New-Idria Mining Company, has suffered a new defeat. A dispatch from San José, Cal., Nov. 5, says: Upon the assembling of the Court this morning, Judge Belden, in the suit of McGarrahan agt. The New-Idria