Chicago Daily Tribune Newspaper, September 22, 1873, Page 1

The dhicage Dailp TEibune, VOLUME 27. REAL ESTATE, For Sale. 1 offer for anle Thirteen ITunidred nnd Twenty Thousnnd Dollurs (21,320,000) of the full puid stock of the new orgnnization (ontire enpital stock S1,000.000) representing and belng about SEVEN-EIGITT HS of tho entlro RIVERSIDE ENTERPRISE. A combination of pnrties of known responal- bl d with the nse of but modernto cnsh controlling the nhove atock, cany by thely Jndicions munngement of that valunblo estuteysecure to themselves eventually o lnrge furtune without risk, 1 also after for anlo the frunchise of n. Suburban Railroad, Which can run Innny direetion to nny polat within Cool, DuPage, or Will Countles. Satd Ralirond Compuny hins o valnnle CONTRACT TFOR RIGUT OF ENTRANCE INTO THE CITY upon the right of way graoted by the Common Councit In May, 1872, to the LnSallo & Chicago Railrond pany, anlil route be- ng especlally wednntedd far rapld tranait to the heart of the city, The tricks within the clty will be Intd this fall. Parties osnlug outslde Innids now Innceessle blc to the city can, by the wse of this franchise, not only ndapt the mune for snle by Subdivie slony, bug render them uvalluble fornctunt res= fdence purnoses. rties buving energy and menns who desire to euburkIn u legitimute and Invge real estuto enterprines huving nll the elements of perfect safety wud nmense and sure profit, ean best dono with the uld of thls franchisc, by purs chusing landa which cin be obtained nt low prices now too remote from nrailrond for Sube division, and enhnncing thelr value by making them thus nvailable for nctunl residonce pure poses for those doing business within tho city, Anotlier Inrge sonrce of profit could bo derived from property-owners ulong the line of such a new ruflrond by donations nnd bouuscs thoy could uflord to glve tn co-operntion. The cost of a_nnrrow guigo rond would be about Seven Thousand Dollars (37,000) per mile, and the cost of snme would only come mence trom the city Hmits, an tho cost within the city is provided elscwhere by tho terms of the aforesnld contrn Tart payment for elitheror both of the nbove two enterprises wonld be fnken In unincnme Bered property, or In anything of actual valuo wot attended with enre and anxiety. EMERY E. CHILDS, Room 1 TFlonore Bloclk. HORTH EVANSTON, Somo of the best located Lots in this village for $300 to $400, in $10 monthly payments. Also, good Housos for salo on easy terms. Raflroad tickots furnished to partics dosiring to oxam. Ao the properts. WM. P. TEHATYER, No. 144 LaSalle-st. CONVICT LAEOR. OFFICE OF TXIH Kansas State Penitentiary, TLeavenworth, Kan., Sept. 6, 1873, Tholaboref 2 cunvlets, or whatoror way notbo employ: ed by the Stats on bulldidgs and necossacy work about Ene Frison, 1 offored 1o the Lighust bidder. ‘o e 340 conslcta in tho Priton. _Bovonty are ot tine emplosod in tuanufacturing wagous, d carringon. mploing 16 Iabar witl bo allowed to pursus suct branclies of manufacturing as thoy dosiro, and that ‘aro usually eartlod on In otlior Donitentlarios. Offors will Lo recolved for 50 to any numbor that may be subject, to contracting in tho Prison, Tfio sbops now ready fur accupnaoy aro as follows: Ono brick shop, 139350 feot, S-starios [ liolght, of 13 fcot each, thn roaf, with a now g3 borse powor onigind snd oilor o cupsing ane ond ol thls building fo_two separate room ‘butlding s now used a3 biackemith and vnod-wor shops for tha manufacturo of wagons, &c. Dircotly at ST anilon with Oife Deiding 1t 5. otlo-stacs Vrick shopy 10260 feut, for biacksmith shup, with blackemith forges in tho coutro, with aluto roof. On tho saimo line with this aro tywo shop rooms of 20025 feot. “Tijo nocesenry heating pipas il bo put 1n shiops. Tho ‘aontractor would bo reqtilred to heat tho ahiops af his awn ‘xponso, unloss othoririso agroud upon at timo of waking contract. ‘All shiops and thoboller and englno a7 now and fn per- fect order. Contraciors to commence wark by tho St day of No- ember, 183, or a8 soon thoroafior as wonld bo possiblo, and couitinue for a torm of sears to bo agroed upow, an ot 10 oxceed ton yoar Tive hundred dollars (8100) fn curronoy or bankablo pavor must ho dapusitod with each bid, as & socuriy for ‘complying with bid 1t award Is wmado, Tho contracting partics will ba roquired to give bond for tho Inlihful porformancn of thelr contract in the sum of ten to forty thousand dollars, or such n sum in pro- portion to tho aumber of convidts cmplov~rt Dayments for the Isbor will by requlivd tu b~ mado monthiy, by the 10th das of each montl 800U 113t 1n whioli Uho [abor was porformed. Contrators will not be requirod to pay forany timoloathy reaton of sickuces, ar whilo convicts are confined in thoir eolls undor punislimont, but convicts will bo allawd to batlio, shave, soe tho Murgoan, and roooleo visita from (rlonds in scdordanco with tho fulesof tho Prison, withe out auy deduction for Jost o un that account. An avurago ol #ino (9) hours during tho yoar will bo on- sidurod & dag's lulior, “All blds ta’ho susicd, and will bo rocotved until 3o'elock Pom, 1o 15U day of Dotubor, 1813, itora re roqiioated to by hrovent at opaning of bids, ‘o right 18 resorsed ta rejoct any or all bi ‘ho Knnsne Ponilontiary 1s locatod fiva milos south of onworth Uity, un tho' Leavonwarth wrenca Brauch of tho Kuntas Pacitio RKaflwas, rendering railroad ‘communication uney, Cual can bo liad from the Loavon. worth conl inino [n apy quantity, Any further iufurmation_may bo had by Wardon, Leavenworth, Kausas, to whom ol be addranscd, By ordor of tho Board of Direators. HENRY HOPKINS, Warden, FANCY GOODS. T0 STATIONERS AND Fancy Goods Trade HENRY LEVY & SON, 49 Maiden Lane, NETW YORK. ‘Would call tho attention of tho trade to thelr Fall importations, among which aro: Backan and Chean Bonrds, Drexsing Canes nnd Work Boxes, Glove uud Handkercllot iloxen, Chessmen, Duminocn, und Dice, Muthemutieal Instruments, Portmannnies and Bill Bookn, Tourist Caacs and Portfollos, Peu nud Pocket Cutlery, Wrltiog Cuice, Inlatunis, LT g A Oabluee o (i, 24 Yory Goods Musten) Cubl Photy tho aroto rm, Card” Cunes, and othor usoful noveltlos and staple artioles suited to the tradu, Busers visiting tho clty will Bud it to thelr sdwantago tu looklng over our stook boloro purchasing FROFESSIONAL A, BISSGOIN TREATS OHTONIO DISEASES (without Medicne), eapucially those directly sse with loss of nervous pawer, a8 Rhoumatlan, Paral nd Gonoral Debility, 121 INDIAIN . A=GT., BET, WELLS AND FRANKLIN, OHIOAGO, Ofico hiours, 11 to 1 and 8147 p. . HOTELS. Merchants’ Hotel, (Gornor Clark and Tako.sts.) now opon for guo ona black frot Bhurian aud Tromont 1o sunlunt Lo depate, strout-oas, and ot 3,80 et et L FRACYIONAL CURRENCY, $5 Packages FRACTIONAL GURRENCY FOR BALE AT TRIBUNE OFFICE. FINANOIAL. SAVINGS DEPOSITS. To allay all unnccessary excite- ment, and in the interest of the Public and our Depositors, and to prevent the possibility of any party obtaining an advantage over another, and to protect the rights of all, the Savings Banks of the City of Chicago, represented Dby the officers whose names are subscribed hereto, will, from and after this date, insist upon requir- ing notice for the withdrawal of Deposits, according to their re- spective Rules, Chicngo, Sept. 20, 1873, D. D, SPENCER, President State Savings Institution. N C. HAINES, President Fi- delity Bank and Safe Depos- itory. SYDNLEY MYERS, Cashier Mer- chantg’, 'armers’, aud Mechan- jes' Snv*ngs Bank. FRED MEYER, Cashier Commer= ¢ial Loan Company. . C OR, Vice-President Cook County Savings Banlk HENRY GREENEBAUM, Presi- dent German Savings Banlk. FRANCIS LACKNER, Pres, Ger- man-American wahu,"s DBank,. S. W. RAWSON, President Union Trust Company. CARL Y. W. JUNGIE, Treasurer Chicago Savings Institution and Trust Company. J. YOUNG SCAMMON, President Savings Department of the Marine Company of Chieago. . A, WARE, Cashier of City Sa ings Bank. W. 1L PARK, Cashier of the Bank of Chicago. JAMES W. SCOVILLE, President of the Prairie State Loan and Trust Company. Adam Smih & S, Bankers, First National Bank Building, sonthwest corner of State and Washington-§ts., Chicago, Dealers in Gold and Silvor Bullion, Bar, Leaf, Sheot, and Granulated ¥orm for me- chanical purposes. Deposits receivod in_ either currency or coin, subjeot to chook without notice. hfllix por cent interest allowed on all daily alances, Checks upon us pass through the Olearing- ‘House, a8 if drawn upon any city bank, Intorest credited, and saccounts-curront rendered monthly. Goin and Currency Drafts on New ¥ork. DINALIE: SAVINGS 105 CLARK-ST., Méthiodist Chnreh Block. Bix per cont tntereatallowed on depais, payabo ol anuuaily, July 1 and Jan, 1in cach sonr. . SCUVIELE, Prosidont. War. Krvsgx Reep, Casiior: NOTE, —Until lurchor notico, any b 1 calllng st T o A R A g 5?) o one_dimedepasited to bis orhor oredit, whioh sum c: drawn out at pleasuro. KELLOGE, VOSWINKEL & CO, BANKBERS, 04 LA BALLE-ST., CHICAGO. Doslers {n U, 8, Ronds, Gold, Forclgn Coias, &a., draw pa] cltlosof Eu oll passago ticko LOGG, Jate Satrotary of N. Y. Mut'l Tife Co.. Ch J. P. VOSWINKEL DORSELEN, Cousul of tho Noth. throughout the United Statos and Oanadns, and pubiiah bils on London, Liverpon, Hiinburih, Glasgow,” Dub. g ik, Arowterda Feiuklor, aid' sl atgdnr‘ princl; an & goneral banking aud colloation business. ~lLaterost al- Inwmw"]‘i‘i’i‘;‘ and savings deposlt: Ins. Col, Milwaukao} late Vico Presidont of Ropublio e T lcago, erlan Wo colloct olalme of avory dosoription against partios tho names of Uiuso who don't pay, Semi-annusl report Toady fur o to aibsoelhars, * IHRASTHIUS now tivory MEROANTILE COLLEOTION AGENGY, 14§ Madison- at., Chicago, PARTNER WANTED, A Gontleman with $35,000 to $40,000 46 invest in un ostablished and profiiablo ‘manufactaring business. Oall or Addross, JOEN_ TRIGGH, 84 Btatu-at., Uhloago. ROBERT WINTHROP & CO, . BANERRS AND BROKHRS, 0. 18 Wall.st., Now York te ord STOOKS, DIONDE AR SOLE Mo § e coatimtorost o DR: And transsct's gencral Bauk ing and Brokerago BLANK BOOKS. BLANK BOOKS, Of any Size or Pattern, MADE TO ORDER BY COLVER, PAGE, HOYNE & CO, 118 & 120 Monroe. Chicago. LAKE NAVIGATION GOODRICH’S STEAMERS For Raolae, Milwaukoe, Bhchosgan, ote., daly, Sundays 0x00p16d, 0. M. . Natnrday Jorcursion Lost for Bl don't loavo until 8 p. n, Grand Raplds, Muskegon, ort, Dianistoe, ato, datly, Bua waukoo, o For_Grand _Has Lako, Eyultp optad, 7p.m, For Bt, ur Spring undsys ox- . daily, Bundays exooptod, 108, m, it e ae ST oy 102, Bt For Gruen Disy Ports, Manday, Wednoadaz, and Trlday, 570 me Mandays 8nd SWoduosdars boat goes 1o WANTED, ANTEDeeAGENTS--FROM 575] to $240 por mouth, overywhorv, to soll ono of the most usoful articlos ovor {nvonted needod b overy famlly, Sond for Clrou tar, Addross, "™ grcowm & co., 157 Btate st., CH10AGO, II “$6300,000. Capltal Prizo, 850,000 NISSOURL STATE LOTTERY., Grand Bingle Number Scheme, Pk R g T b ,l:’nflunl:r to MURKAY, M! alll !).U., Box 316, 8t CHICAGO, MONDAY, SEPTEMBER CHICAGO EXPOSITIO! INTER-STATE Industrial Exposition OF CHICAGO. Grand Formal Opening ON Thursday Evening, Sept. 25, 1873, The Executive Committee havo the ploasure to announce tho com- plotion of all preparatory arrange- ments for the First Annual Exhibi- tion of the Inter-Stato Industrial Exposition of Chicago. The building, which is the largest and best structure of its class on this continont, has been flnished with the greatest caro in all details, and the entries now made and mostly placed give undoubted assurance that, in variety, magnitude, interest, and value, tho Exhibition itself will far excel any horetofore held in the now world. 'The formal opening will trko place in accordance with the following PROGRAMMB: POTTHR PALMER, BEsq, Prosident, in tho Ohair. 5 MUSIO--National Aira, Ohioago Exposition Grand March, com. posed for the occasion by Prof. Flodoard Hoffman. Addross ard dolivery of tho Building to tho Bonrd of Dircotors by the Chairman of the Executive Committes, N, B. Bouton, Eaq. Responso and accoptanac on beohalf of tho Board of Diractora by Hon, W, F. Cooal- baugh, Vico-Prosident. MUSIC--Fostival Overture, by Prof. Hoff- man, Addrosses of Wolsome by Hon. L. L Bond, Mayor of Chicago, and Hia Excellen~ oy, John L, Beveridge, Governor of Illinois. MUBSIO--Potpourri from Martha--Flotow. Address by Hon. John A. Logan, United Btates Senator, MUBIO--Nationnl Potpourri--Heinicke. Address by Hon, Richard J. Oglosby, United States Senator. MUSIC--Galop Weloome--Faust, VAAS & HOFFMAN'S BAND, Compaosed of Forty Pioces, and conducted by Prof. Flodoard Hoffmen, will furnish the Musio for tho Opening, and Daily during the Bxposition. TICKETS OF ADMISSIONFOR THE OPENING: .50 Cents +..26 Cents Entrance on Michigan-av., fronting on Ad- ams-st, Hxits, Michigan-av., noar Monroe and Jookson-ats, Doors open at 7. PAPER HANGINGS. Paper Hangings, BEDDING:., ‘Window Shades, & Upholstery Goods, HILGER, JENKINS & FAXON, (Sucoessora to E, @ L, FAXON & C0.) 107 STATE-ST., Faur doors south af Washington. Grand Qpening Trench Milinery & Tmported Patterns At Mrs, JACKSON’S PARLORS, 82 State-st., on Tuesday and Wednes- day, Sept. 23 and 24, Miss A, J. LAMB, Milliner; Mrs. ¥, WRTMORE, M, WA WERY b resemekdrs and Dovignsrs. GENERAL NOTICES. Chicagy & Nn@smm Railway. NOTICE TO SHIPPERS. On and after Monday, Sopt. 22, all freight foo Madinon Divigion of O. & 1> W Raillway, and for Winons & 8. Peters Rallway, Wes Wisconsin Railrond, and points in Wiscon- gin and Minnasotu, should be delivored at ;{Vh:hnml%nmvjifl“ Dopot of the Chicago & iy, "'Ww;; ug;:?. é‘gf{figflfl"h"“" Frolght Agsat. 1w O btinor Lasafle and Randotphiata, 70 CABINER, TRUNK, FURNITURE, AND CARRIAGE MANUFACTURERS, We h {1y placed tn our mill & 68.dnoh Aegmont s for rosaming afl kiniis of Jumbor to 30 {nokon 1n width iing ot TowsGort and taking (hlokor lumbor than an otlier reaawing-machine in Chloage on sniiunds toatior:” Wo taita the Misation o irogs 10 our work, a7 gon our worly 810 19 GO & 11 tho Want. NS, 'Planiug-Mill and Box-Faotory, Quarry-at, & Aroliof-av, ICE. ICE. ICE. Packers and Browers wanting _largo quan« titios %‘qu l'otr chg rufluind‘fr of the ?:l;fnz' osn make contraots at_low figures at JAS, F, Bmfi'fl & JO)B 161 LaSalle VELVET RIBBONS Black Velvet Ribbons Fagle A, . Brand, PASSAVANT & CO., BOLE AGENTS, 222 & 224 Cliurch-nty N, Y. REMOVALS. REMOVAL. DR. T. W. BROPHY, Dentist, Has romoved to N. W, cornor of Blate and Madlsoa-sls. jom 5. 0. Bacl n¢ manufa nt saw in MEETINGS. s R A A Masonic, L yotte Ohapter, No, 3, R. A, M, Mall No. 12 La L 1 il it R S S ! 1 17 orier of theld. E. N, TUOKER, See'y. THE PANIC. Prosident Grant Orders Secretary Richardson to Bay Bonds To- Day to Any Amount Offered, This i3 the Result of an All-Day Conference Yesterday with the Leading Business Men of Noew York, The New Yorkers Urge the Govern- ment to Reissue the $44,000,~ 000 Greenback Rescrve. They Are Supported by Reverdy lohn- son, Who Admits that It Would Be Uncons titutional. Secretary Richardson Inflexible in Hir Opposition and He is Supported by the President. The Chicago and New York Sav- ings Banks Decide that Depositors Must Give Legal Notice of Withdrawal. No Mercantile Tlouse, No Savings Bank, No Legitimate Establishmnent Yel Broken. Failure of the Union Trust Company--- Its Loans to the Vanderbilts. The (Sliuation in Washington, Philadeiphla, and Elsewhere. &Special Dispateh to The Chicago Tridune. New Yonmk, Sopt.’ 91,—The arrival of Presl- dant Grant st Fifth Avenue Hotel, on Saturday night, was with fhe avowed purpose of discussing with Beeretray Richardson tho sub- Joct whotbier the Government should come to the as- slstanco of {mperiled bankers, The news of Gover- ‘mental interferonce in the present financial crisls at. tracted to the nelghborhood of the Prealdent’s parlor st tho hotel, this afternoon, the wealthicst business men of tho city, TIIZ. HOTEL WAS INDEED A8 LIVELY an the Btock Exchange had been on Friday, notwith- standing the ringing of church bells In the vicnity,and a Sabbath air of quietuilo that reigned over the almost desolated streots, Tho whole lfo and alir of tho great city might apparently bavo been comprossed into its smallest compass and placed cxclusively among the corridors and lobbios of the Hotel Solid groups of ‘business men engaged in low and earucst converaation crowded tho lobbles on tho firat fioor of the hotel, and the carpetod halls and parlors adjoining the southwest angle of tho hotel, where in Parlors 33, 84, ond 35 tho President and his party wero assombled. Accompany- ing tho President wero Socrotary Richardson, Gen, Babeock, Presidential Secretary, Gen. Hillhousc, Ase aistant Trossurer George A, Sharpe, Benator Morton, of Indfans, and Senator West, of Loulsiaus, Among capitalista and oltizens who crowded the cor~ dors, or walted in the parlors to hear the declsion of this august body, were Goorge Opdyke, Wiklam Orton, Robert L. Kennedy, Jobn J, Clsco, Proaper F. Blaw, Rufus Hatch, IT, B, Oluflin, John Hoey, Jenkins Van Bualck, Gen, E. B. Sandford,J, H, Darker, W. L, Bcott, snd many others whoso Intereata lay in the im- ‘mediato turning of financlal ront, The Hon, Reverdy Johnson was visible at froquent intervals in the anx- lous throng, It wos a rather substantial assemblage indeed, and when Commoadore Vanderbilt, on the arm of a younger friend, put in his ppearance, one of tho substautial men remarked, with possibly pardonable pride, A very substautial assemblage indecd, I should say— OVER A HUNDRED MILLIONS,” "The capitaliats held their consultation informally in Room 19, and most of thoso named above Were pres- ent. Tho discussion began about 10 o'clock and ro- ‘yolved around tho direct proposition that Government should loan totho bankers of the city the wholo re- sorvo in the Treasury, if needed; and that it should e done before 10 o'clock to-morrow. Twenty differ- ent propositions wero made that meant only thi though thoy were put in twenty difforent ways, To this thero waa strong opposition on tho part of BEOREFARY RIOARDSON, WHO FOBITIVELY DEOLINED to do anything of the sort, Bome of the Lankers intl~ mated that it wes not bis funeral, The conference again consulted, but could come to no satisfactory de- clsion, Scoretary Nichardson held firmly to his pur- poss, and tho Presidont s firmly backed himin it. Finally, about noon, the President gave notico that e would entertain no proposition which was not stated sucainetly In writing and signed by each capitalist in conferenco, Some constornation over tins notice en~ sued, and tho conteronce became more intemsely earneat than before, Gonsultation was informally had with Reverdy John- aon, who stated that the President had no power to make any such isauc, but that he would be supportod in 4t hedeclded that tho exigenoy of the case de- manded such action. The result was that the capital- iatn procesded to make out written petitions, and pro- valled upon Afr, Johnaon to accompany it with a writ~ ten opinion of his own upon the logality of tha actien roqueated of the Government, Ar, Johnson made the following atatement to a reporter relativa to tho caso; #The President ia without & doubt devold of logal power to issus any portion of the $10,000,000 in the Treasury, Ho (President) says as much as this himeelf, and, on mesting mo in the corridor, ssked ‘my opinion about it, I told him that there wasno legal warranty, but that, If ho deemed that tho exigen- oyof the caso demanded such a moasure, I should surely order it, Thia HAS BEOONE A NATIONAL OALAMITY, Unlees relief {s afforded them, all city banks must sus- pend to-morrow, The result of this would be gencral ‘suspenslon throughout the country, and a prostration unequaled even by the catastrophe of 1857, The President colncided with me In the matter, sud I am to write Lim a letter on tho subject at 6 o%clock, The ecapltalists’ conference continued meantime, to deliberate within closed doors, until 2 P.m., whon a reccas for dlnner was taken, and alull throughout tho hotol ensued, Soon after that hour, howover, the bustle and stir rovived, and the confor~ once was resumed, Mr, Johnson had meantime made a rough draft of hiu letter of advico to the President, and at onco sub- mitted it to the conference, to which had now been ad- ded H, B, Clatilv, and many others, 50 that the finan- olol entimate of tho strongth of the convention was put atn REPRESENTATION OF A RUNDRED AND FIFTY MILLIONA, Tho propoattion to writo u lotter bad been made in the form of a request to advise tho Proaldent, 88 & law- yor, on his wuthority to bind tho Treasury resorve of $44,000,000, The opinion had been prepared, snd the 1meetiug was called to order by Mr, Opdyko, who proe slded, to listen to its reading. TUE LETTER HETS FORTH the extremo sxigenoy of thie occaslon, the entire Ainan- cial interests of the country being thrcatensd, and ro- fors to the petition of the bankers and morchants that 44,000,000 -of the Teacrved greonbacks bo isaued, ‘Withs reference to tho legal sutliority of the Becretary of the Treasury o reccive the ontiro amount or aeny portlon of i, lawyers differ tn opinfon, Mr, Johneon recalls the sitention of the Presldent to the fact thaton a former occasion, during a period of monetary stringency, the smount of $5,000,000 was {satied by the Bocretary on order from B3 22, 1873. NUMBER 32. the Prestdent, Teoplo halled this as & measurs of ro- Nef, and had Indoracd thin actlon of the Prosident by re-clecting bim with an almost unprocedented msjori- ty. Tho lotler was road to those asnombled, and oliclted thoir approval, A few trifiing alterations in phraseology wero mada by Mr, Johnaon, and nls aeo- vetary was directed Lo make s cloar copy of tho letter for presoutation to the Prosident, VIEWS AT DINNER. Meantime, tho Prosklent ind loft the Fifth Avenue Totol and gona to tho Union Leaguo Olub to dinner on the invitation of I, B, Clalin, John Hocy, and othors, Ho departed with theso gontismen at 4:30 p. m, Dur- Ing dinner, the subject of {ssuing the rosorvo of groon- backe, and other plans for rollef, woro discusscd st length, ‘The Prosldont oxpressed a willingnoss to do anything for tho rellef of tho financlsl community, provided LAW WOULD DEAT HIX OUT ingo doing. Becretary Richardson was opposed to {sulng tho rescrve greenbacks, becauso ho belloved there was no legal suthority for i, Ha said he apprecisted tho situntion the fnanclal world had been throws into, but waa unwilling to violate Iaw to afford rolief, Many of tho argumenta of the doy woro agaln Lrought forward, but no now meanurca were submitted, ' COMMODONE VANDENBILT'S PROPOSITION, Earlyin the doy the Prosident was informed that ‘Commodore Vauderbilt was desirous of & conference ‘with him, tho Prosident signified his willingnesa to sco tho Commodore, and fn s short time the lattor ‘mnde his appearance i the lobby, and was immedi- ately conducted by Gen, Bharpo to tho parlors of the Prosident. Tho conference was brief, taking only a for minutes, As the Commodore csme from the President's room ho was accosted by aoveral of his ao- quaintances, who wero anzious to learn the issue of his interview, Much had been hoped from it by thoso assombled, as ft was known that tho Commodoro had expressed his willingnees to advance $10,000,000 to tho bauks, provided the Presidont wantod to dircct tho Bocrotary of the Treasury to {sauo $25,000,000, In rosponss to a question put to him, the Commedore said, briofly, that his mis- sion had Leen unsucceasful, and added, referring to tho President’s refusal to authorize the loans to the ‘banke, - 4 ITE COULD DO IT I¥ IIE WANTED TO," o at once took his doparture, sccompanied by seversl friends. Those who were present at tho intervisw bo- twoon the Preaident and the Commodore said thiat the Iatter, addressing himself to tho Prosident and Secro- tary Richardson, reforred to the dangor impending over the financial world, snd the nocessity for prompt messures of rolief. He offersd to placo at the disposal of the banks the aum of $10,000,000 for their rolief on condition that the President would autliorize the Beeretary of tho Tresaury tolend tho banks $25,000,000, Ho further offercd to stand a pro rata amount of any loss that might accrue by much action, Ho was asked why Le did not pay tho Union Trust Company tho sum $1,750,000 advanced to tho Michigan Bouthern & Lake Shore Rallway Company, of whioh he {s President, and thus prevent that insti~ tution from susponding, No direct anawer was made to this question, Itisstated that tho Hecretarydo- manded that the banks make a succlnct report to him of their individusl condition beforo he would enter- tain the proposition, The intorview ended with no re- sult mors factory than thoso that had preceded it. AFTER THE OONOLUSION OF THE DINNER, Henry Olews announced to the Committeo of Capltal- 1sta that the President positively declined to reply fa- vorably to thelr written proposition, evening, Benator Morton announced to Reverdy John- son tho following aa tho President's derisfon: Ho bas decided’ to buy an unlimited amount of 5-20 bonds at o prico mot exceoding par in gold. o will not fssua the $44,000,000 greonbacks, On the announcement of this decislon, Jay Gould, who had been urglng the Preaidont to {ssuoa part of the $44,~ 000,000, declared that the result must bo a general breaking-up of all the banks in the country, snd a crisls the extent of whicl no ono could foroseo tho re- sult, THURLOW WRED GTATED T0-DAY, in answor toa question as to what ho hought of the financial crisls, thot the end”of it was mot suflictently clear yet to cnabls bim or any onc else to oxpress his views satisfactorily sboutit, Thero was no telling what to-morrow and thonozt day would dovelop, Quostion—You do not apprehond that it will oxtond to the commercial and business world, do you? Answer—Woll, T hope not, It ought not to, Com~ merco and the business of the city arein & pros- porous and healthy condition. If tho crash (oes not result in o general auapension of the banks, it ought not to havo s serlous offect upon legitimate business; but if it should turn out, fu the next two days, that banks, liko bankers, aro loaded down with dosd socurities, it MATY END IN A GENERAT AUBPENBION, Viewing ths orlsis in fta most remoto aspects, wo are simply psying one of the penaltics of our grest war, Our groat wars are followed by great penalties, Mo X may say all—wars hitherto have beon followed by great dopression and diatress to tho fnancial and busincss interents of tho country that hns carriod thom on; but our war scems to have had, for tho tims being, & different effect, Ono roason of this fs that wWe spent ‘mionoy more lavishly during our war than any other nation ever did, No nation ever bofora paid its sol- dloru $14 per month, or spont anything Ike the ssmo smount of money that we did in the same time, THIS IMMENSE AMOUNT OF MONEY, thrown Into circulation, gava rise to reckloss spaculs- tion on all sides, It ongenderod hsbits of extrava. gance, aud a general desire among sll classes to got rich suddonly snd without work. But among its worst effects was tho genoral demoralization of the country, afecting publio men and busincss men aliko, Riugs wero formed everywhere to make .money and to rob the publle. Everybody knows how they obbod this city, and thoy robbed tho Stato, tos, sud would be robbing it now if wo had not been fortunate onough, last fall to olect an honest Government, Tho presont fluu- cial criela in Wall atroet 18 attrlbutabls {mmodiately to iwo caucs, Frst, to & fow large capitallsta snd ‘money-lenders who hiave tied up large sums of monoy in order that thoy might forco usurious interest, The bauks have lent themselves—infsmously lent thom- selves—to the purposes of thess men, Tho second causo is the action of gold speculators, who havo resortod Lo all sorts of schomes o raise tho premium on gold, and thoy, too, Tecelved aid from tho banks, Every intorcst of this country, in my opinion, do- mands THE SPEEDY RESUMPTION OF (IPECTR PATMENTS, Dut this fe groatly embarrassed by the oporations of gold gamblers, and it is also hindered, to & consider- ablo extent, by large numbers of Americans who, for the Isat two or thres years, have gono abroad snd spont thoir money n Europe. This was so much gold Tost to the country, and the amount {s much larger than i gonorally supposed, But what 1s nceded, sbovo all things, s to put & stop to combinations of those men who withdraw from circulatisn monoy that fs neoded, In oraer that they may fores usurfous fntorest of ono or one and » half per cent a day, They should ba sent o tho State Prison whorever thoy can be found, together with bank officers who aid them, Q.—What have you to say about Jay Gooke 7 A.—Tay Cooke has falled by attempting to carry out grest entorprise ffteon years too soon, Q.—You ara not clear, then, in your own mind, that wa iave scen the worst of it 7 A—No, 1t is impossible to tell what to-morrow snd thomest dsy may bring forth, Ihope the worst s past,and thiat it will not reach tho commerclal and business world, It would be wicked for them to have to suffer for to sius of Wall streot gamblers sud speculators, “Thie roault of the inancisl panfo may be BUMMED UF IN A BIIEF PARAGRATH, Fow of the brokers know whore they stand, On Buturday, the beat seouritien went begging at loweat rates, Tlero was no Axing value on auy stocks, and tho Black Exchungo was wiscly closod fo glve men timo to recover from thelr diatrust, and gathor thelr scattorcd senses, Eloven additional houses failed, and their suspension was snnounced on 'Chango bofore itclosed, A fow mora of the weakest will go down when seltlements are made, Bome of (hose who have beon sunounced from the Doard will recover and go on, Nota single mercantile Louse, saviogs bank, or othor {nstitution dolug legitimate trado has fallen, TUE EXOITEMENT AND DISTRUST caused by wilg apeculations extended tho panfo bo- youd the Btock Exchsnge, and thon banks suffered from severe runs upon them, Ths Union Trust Com- pany was weakened by the discovory of a lsrgo dofalca~ tion, aggregating $600,000, and tho impossibility of roalizing on heavy call loaus to the Lako Bliore Road CGompany, and it suspended, “Tho Bsuk of tho Commonwealth was weakened by the psyment of an overdraft of $25,000 of & house which bad suspended, The National Trust Company, with $800,000 Govoraments on huud, ater in the | OOULD MOT REALIZR A DOLLAR on them, and wisoly oloned {ta doors until it could dfs- pote of thom, Runs on the Fourth Natonal and Manhattan Dauks werolsughed to scorn by those {n- stitutions, During the morning, the banks went on the principle of fish,—oach man to drag out hls own corpne,—and refused_oach othier's chocks ; but later a moeting was held and (OONOKNTED ACTION AGRERD ON § and subsoquently there was 1o further trouble, The purchaso of bonds by Govornment lso aided to broak tho forco of thostorm, Tho diatrust which provailed on Friday night was uot gonoral ; in fact, the promised sction of tho Government had, in & measuro, restcred confidenco to many, but carly on Baturday tho oxcite- ment was roncwed by the discovery thot tho Union and National Trust Companis DID XOT OPXN THEIR DOORE, ThoStock Excliangs hind opencd amid excitement in consequenco of tho further depression of stocks in salen betore call ; and, before half an hour had passed confuson refgncd supremo, {ncronsing na tho time passed and rumors of tho susponsions of banks bo- camo eatnblishied facts, At no timo during tho sossion on Saturdsy was tidding a mensuro of tho valuo of ntocke, for frequently tho valuo of stocks were sold ot thireo sovoral prices by brokers within a fow fool of one another. Tho wholo Board appeared {o b MELFLERSLY CONFUSED, and ot ono timo it seemed as if the beata wero 08 much dlstressed a8 tho bulls, at tho constant decliue of values, Tho resort which waa had soon in tho after- noon to tho closing of tho Exchango was, theroforo, halled by both sides as a relief which preventod tho markot from becoming hopolessly confused, and it concealed tho fact that the street was reaily broken, A proposition to suspend oporations was mado Friday, but tho broker who offered tho rosolution was HMOOTED AT AND BEVILED. On Saturdsy, his wisdom of tho previous dsy was ac Xuowledgod and acted on, Tho Board confiemed 1- with choers, which drowned tho rude clangor of the gong which announced the closing of the Exchango until it should bo rcopened at tho dlacretion of tho Prosidont, Drokors are forbidden to desl outside of the Exchange, boforo its hours of oponing or closlng, Honco tho closing of the Exchang puts & stop to all speculation, and gives timo for sottloments, At loast speculation must now bo confined to brokers who are not membera of the Doard. Fow of theso doalt on tho ptreet 1n tho atternoon; and, 85 till further to con- firm tho wisdom of closing Exchange, BALXS ON THX S8TREET prove much botter than tho closing rates of the Doard. Other memsures of rollef had been taken to help the pressed banks, The Gold Exchange Bank roturncd many statements banded into1t as the Clearing Houso forgold ex- chango; and this provented further oxclting spocula~ tion, aa It depressed previous scttlomonts, The bank Presidents met and resolved to fssuo $10,000,000 temporary loans in_certificates, making a common funds for sl the banks o draw upon; aud resolvod to GTAND DY ONE ANOTHER, The offect of this was highly rossauring, and, beforo oalock, the strect had recovered much of it com- postire. When Trinity chimes marked the division of thio afternoon, they had & choerful sound, to tho musio of which thocrowd marched homoward a Httlo lesa do- pressed, it still soro at the imponding run or tn doubt 28 o tho future. THE CONDITION OP GUSPENDED TIBA Fow statements ns to the condition of auspended firms can be had. Ins majority of cascs, the sus- ‘ponsion wss not mattor of jmmediato and absoluto neocanlty, but was, by all mesns, the wiscat and safest thing to do, The panic showod 1no slgns of abating, snd they deomod it dsngerous oxperiment o sttompt stsnding againat thestorm, By susponding at onco they savod thiousanda to thomaoivos, snd by taking tho samo stop twenty-four hours earller thoy might have dono atill botter; but thoy could not toll how long the storm swould continue, and held out, tn hopo that they might swoather, and that each succeeding hour might bring rolfef. Inamajority of casesof tho suspensions, it ‘was hoped It would only be temporary, sud a number hoped to resumo business within a wack, WIAT THE DANKBUPTS BAY. O. Taight & Co. state that their indobtodness will not oxceed $250,000, The uncasy feeling with them ‘begau two or threo weeks since, but, seven daya 5go, ruin bad been undreamed of. Brown, Wadswortli & Cascy could have held out o whilo longer, but in the present chaotio condition of alfairs everywhero thoy dared not xeceive or deliver, ar do any business whatever, until they knew wherd tho bottom was, They were particularly intorcsted fn Now York Central, Ifarlem, Lako Siore, Rock Tsland, and Pacific Mall, As soon =& confidenco should Lo restored, and accounts cleared, they hoped to resume, TTho closing of the Btock Exchango tho firm rogarded ss commendable, 88 it would afford time for re- liot, and by this morning confidence would be in & ‘measuro restored, Lawrenco Josepha sald he was even on stocks, and owes mothing. o should withdraw his announce- ‘mant of suspensian, f possible, to-morrow, For months the street lad been looking for trouble in the firm of Jay Cooke & Co., but O OKE SUSPECTED FISK & IATONL, Miller & Walsh sttribute thelr susponeton to the fafl- uro of banking accommodations, and their inability to obtain money from thelr customers, They suspended 288 cautlonary mossuro, Thoy hadnot made an examination of their books, and knew not where thoy stood, They had been dealing In stocks of overy kind, but had considered themaclvea safo until twenty-four Tours before their fall. TUE LAXY, AORE NOAD IN THE TOILS, The failure of the Unlon Trust Company {s much ‘more serious than was supposed. In addition to tho defalcation of Carlton, which, as I tclegraphed lnst Dight, amounts to over $600,000, and whicl s probably whiolly loat to the bank, it haa beon dlscovered that call loans to tho amount of more than $750,000 had been granted to the Lake Bhore Raflroad, and this the Company persistontly rofused to pay bsck when asked 10 do 50 on Friday, A DIVIDEND DEOLAKED OX ROTITING, ‘This money was losned to the Lake 8hore Company topay itslsst dividend of 4 per cent, which was a wholly fictitious dividend, They had only $250,000, and had to borrow the remainder to pay out the $2,000,~ 000, which that dividend called for, Augustus Schell plended with tears in his eyes to Vanderbilt, on Fri- day, to repay this loan, which had bocn made o one of his ¢ompanies, but VANDREDILT WAS DEAY tobis appeals, and loft tho Trust Company o go by the board, It also poaitively understood. that smong the loanss was oo of $900,000 to G. T. Willlams, who wes & apocial partnor of the late Horaca ¥, Olatke, Presidont of the Lake Shore, It in now dixcovered that thia 1oan waa for the beneft af the Clarke snd Vanderbilt party, and not for Willlams at all, Payment of thin loan la also refuscd, and helpsto involve the Trust Company n rutn, which fs perbaps irrotirevabls, A prominent Director of tho Union Trust Company stated, Inte in the evening, that thero can be XO BEAUNTTION OF BUBINESS by the Company to-morrow, under the circumstances but thera seoms to bo & strong Impression that the Lake Shora Rtallroad Company 18 coming to the Teliet of the Union Trust Company, snd that the latter will Teatime buslncss no later than mext Baturdsy, A call Joan of $300,000, which was thought to bo doubtful, ‘was pald to-day, and othors will probably come in to- morrow, Mr. Frothinghum, Presideut of tus Union Trust Company, sailed from Liverpool on Baturday, To i supposed to bo wholly fgnorant of the fatlure of tho institution, No fuformation of CARLTON'S WHEREZANOUTS is obfainable, Mo fa cortmwnly young, ard wholly unftted for tho position which he han held, It is oMctally announced, t & late hour to-night, that the Union Trust Company WILL XOT RESUME TO-MORNOW, Auguatus Behell, Vice-President, said, in an_interview this evening, that it 18 imposnible to say when (¢ will reaume, everything depending on cailing in loans. “ihen we suspended,” ho sald, “it was with iho expectation of calling in sufMclont loans to b atle to roume on Monday, but the closlug of the Stock Exchange changed our plans, The Trust Company willnot resime until it 18 able to go on without faltering,” o was askod if thiore was any doubt of tho Trust Compauy’s belng able to resumo, o abswered, ominously ; * We can- not tell, but hope nol,” e also said that Carlton's do- falcation would reach $500,000, A Director of the bank states that ho waa largely {ntorostod fu Western Unlon stocks, and their sudden deoline placed him in despor- ate oironmatances, s envelopos pioked up in his office lso show that he was spooulating in Union Pacifio, [To the Associated Presa) THE CONFEUBKOR AT TUE FIFTH AVERUE NOTAL, Nxw Yonx, Sopt, 21,—The fact that Preaidunt Grant, Becrotary Richardson, and other high officlsls of Govornment had come hera to consult with leading Laukers and merchsuts was generally kuown fhis ‘morntog, togother with tho fact that those invited to tho conferenco would meet tho Prealdont and Ainancial officors of tho Government fu tho Fifth Avenuo Hotel during thodny, In consequenco, not only bankers, ‘Drokors, and merchnnis wers in attendanco, but the goneral publio flockod thither and listoned Lo groups of Wall street men DISGUERING TIE AITUATION, The general publlc, nlthough knowing Mttle of the: technicalities of stock and gold speculation, or of tho causes which tendod to produco the presont alarm, novortholess sccned to feel thot tho oceasion was franght with importancoto sll. Preste dont Grant, Secretaro Richardson, Senstor Morton, and Gen, Babeoek wero resdy befors noon tohear the views and suggentions of PROMINENT MERCUANTA AND FINANOIFRS, some of whom had previously helda conferenco ana reduced thelr plans to taugtblo slnpo at tho confere ence, and conspicuous among those presont wero Come modoro Vanderbilt, Honry Clows, Isnso II, Bafley, Holegman brothers, Georgo M. Opdyke, Willinm Orton, President of tho Western Union Telegraphi Company; Prosper P', 8hnrpo, Jomes 1T, Burke, Willlam L. Beott, of tho Eclo, Pa, DBank; Robert Lenox Konnedy ; Horaco B, Claflin; Gen, E, 8, Banford, President of the Adams Express Company; Mr, Vail, of the Bank of Commcrco; Scuntor West, and John Hooy, Tresident of tho Adoms Express Company. First, A OENERAL PROTOSITION was mado by o commitice appaluted for the purposcs that tho present finsucial diMeultics should be relleved by drawing on tho legal-tondor rescrve, ‘Thio Com- mittee hind not agreed, at this time, as to tho amount of such reservo which would Lo probably required to offect tho objoct eought to Do attalned. President Grant and Sccrolary Richardson sont for ‘many members of the Committce In turn, and heard* thelr views on tho subject, After upwards of an hour had beon spent in this way, aud after listoning to tha reading of tho written views of soveral prominent members of tho Committeo, Prosilent Grant and Becrotary Richardson ustructed the Committeo that nothing could bo done until somo preelso proposition had been submitted, Tho majority of the Committea proposed verbally that tho Government sbould, if Decossary, TLACE THE WHOLE LEOAL, NERERVE of $44,000,000 in tho National Depositories in thin eity Secrotary Richardson opposed this, and safd ho was utterly and infloxibly opposed $o issning any consider= able portlon of tha legal rescrvo for tho ucoof tho clty banks, To uso Mr, Richardeon's own words, quoted on the anthority of one of the Commiltes, TIIS, GENTLEMEN, 18 NOT MY FUNERAL." Gen, Grant and Becretary Tchardson requeated tho ‘Committeo of Financiers to agreo on and submit to them In writing, aud briefly, and aa plainly as possiblo, ‘what they, tho financicrs, thought should bo done on the part of tho Government, etipulating that the name of ench one recommending tho conrse to bo agreod upon, bo appeniod to tho paper, Tho Committeo had retired toagres upon a proposition to bo submitted ta the Preafdent and the Sccretary of tho Treasury, and COMMODONE VANDERDILT ENTERED THE PARLOT, in which the President and his finsuce officer wera meatod, The rooms and corridors adjolning the nue dlence chamber were quickly thronged with tho crowd, awaiting impatlently for tho oxit of tho Rallroad Kiug, and norvously impationt to glean oven the faintest idea of what might be tho result of his visit to the Pres- idont, Commodore Vanderbilt mado a proposition that the Presidont suthorize (Lo Sccrotary of the Treasury to place $30,000,000 of legal resarve in the Dbanks of this city; and on that condition he (Commios dora Vanderbilt, would add $10,000,000. THE PRESIDENT ON THE CONSTITUTION. Presidont Grant replied that Lo was anxfous to do allin his power to roliova the present financial embar~ assment, sud to provent the impending dismster. Ue ‘must, howover, conform to the Constitution, Mr, Op- dyko and others representod to Prosident Grant and Becretary Richardson tho nocessity for jmmediata sction, but they wero informed (hat tho Conatitution could not be violated at this point, A © ¥m, LB CUTTIN BROKR FORTI in pervous excitemont, on the importancs of the Government taking immediste action o the matter, Ho said alroady peoplo had begun to surronnd tho saving bauke of the city, expressing thelr dotermin- ation to walt up all night snd mako & rush on tho opening of the banks to-morrow morning. A rumor now spread with lightning rapldty among the crowd, and wsa genorally Lolisved, that Grant aud Richardson bad como to the docision that they could place nopart of the legal resorve at tho servico of the Now York Clty banks, It created INTENGE CONTENATION AXONG THE CROWD ‘who thronged the corridors of the hotel. There wora some who saw that no decision on the subjoct had been arrived at, and that auother couferenco was to b hold during the evoning. 1t was wildly asserted by scores that all thoe banka in tha country would suspend, and that a run would take place on the savings bauks toe morrow, and would spread commotion throughout the masses of this and other cities of the Union, ‘While the gentlemen named and others were GIVING THEIR ADVICE TO THE PRESIDENT a8 to the course that should be adopted, and crowds in the corridora and lobbios wore indulging in all sorts of speculations as to tho probable result of tho day's work, Presldents of bauks and capitalists wore en deavoring to agreo upon a proposition to be submit- ted, but although they bad becn conferring up tili 6 o'clock they could not arrive at auy conclusion and no paper wad presented to the President, The President and Secretary wero not of diverso sontiment, {t appears, for it was agreed botween them to instruct the Assistant Treasurer to DUY ALL TIE GOVERNMENT DONDS OFFERED for solo to any amount. Tho savings baoks hold many millions of Government bonds, and it 18 probablothey will doposit tho proceeds in Natlonal Banks, which will give them relief, Tho Presidential party, soon after the declslon arrived at by the Gove ernment had boen mado known, went to the Union League rooms, and thero dined, after which Secretary Ricliardson roturned to Washington, and the President went t t30 house of & friend. TIE LONDON MOUSE NOT BROXEN. Jay Cooke & Co, say there is no truth whatever in the story published hore to-day that the house of Jay Cook, McCullach & C0,, of London, has failed. They say thelr London bueiness continuea uninterrupted, THE DANK OFFIOERS OF SAVINGS BAXKS havo taken prompt ection to provent an immediate rin on their soveral institutions, A number of them met to-day and adopted unanimously & resolution that that portion of the ules for the government of savings do- posita shall ba ouforced, CONDITION OF TIIR BANKS, Nxw Yonx, Bcpt, 31,—The bank statoment did noy sppesr until ovening, anud ehows a losn of $1,597,100 apacle, snd $2,409,300 lega) tendera; a contre tion of $6,114,500 loans, and $9,287,400 lcss of doposits than Baturday, Tho circulation is increased $30,800, Tha figures are as follows: National, 19,610, 01 200 310,083,800 08,817,100 27,382,000 , 24,55 2315 THE LSS OF BESERVE 18 $4,006,800 In gold and greenbacks, and the reduction of labilitics s §9,240,600, on which 25 per cont Is §2,- 811,650, The bunks therefore loso only $1,005,750 of actual reserves, aud aro $3,211,075 bolow tho 25 per cont line of the National-Bank methud of calculation, ALL SORTS OF BUMORS wora clrculated to-day, apparently with the purposa to exclto distrust aniong Industrious workiug poople, and causo a run on tho saviugs bauks, Ono was that a meoting of Germans bad taken placo in tho Bowory, and that & resolution was adopted to witle draw depoeits at onco, Auother story was that dopos- tors wero already assembled at the doors of ono of tha savings banks, eachs anxiousto be oia aud at the opens ing Liour to-morrow, TIE BUAPENSION OF TITE U'NION TRUST COMPANY 18 duo to tho slovenly mauageiucnt by tho Sccrotary, Knowing tho stato of affuira in Wall streat, ho dolayod calling in his loans, aud on Fridsy called inonly $360,000, ‘Thet doy tho lustitution wae taken in band by some of s Trusteos, wha had to ralse monoy in tho afternoon upon Goveramery Londa while paying out $1,600,000 ta alarmed deposit+ ors, Duriug tho process of golting 5-208 huto shupo fot uso, for they wore u o voglitored form and nooded to be signed sud properly attacheds the Secretary loft tho ofiice, and has not sinco returned, Tho ezamination of securitios ro. yoaled the fact fhat about §330,000 worth of bonds had dlssppearod with Carlton, who ia now A PUGITIVE DEFAULTED, Thin loss takes away moro tian balf the Company's surplus, but hzd nothing to do with caushg fts suspemsion, which s duo directly ta Carlton's negligenco 11 making provislon for plain nie (Continued on the Kighth Tage.) State, Total, 8,421,7 Perc'tage of