Chicago Daily Tribune Newspaper, September 25, 1873, Page 1

VOLUME 27. CHICAGO EXPOSITION. REAL ESTATE., INTER-STATE ({5 NORTH SIDR CITT LTS Tndustrial Exposition ~ OF CHICAGO. Grand Formal Opening Thursday Evening, Sept. 25, 1873, The Executive Committee have tho pleasuro to announce the com- pletion of all preparatory arrange- ments for the First Annusl Exhibi- tion of the Inter-State Industrial Exposition of Chicago. ‘The building, which is the largest and best structure of its class on this continent, has been finished with the groatest care 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 heretofore held in the new world., The formal opening will take place in accordance with the following PROGRAMME:z POTTER PALMER, Esq., Prosident, in tho Chair. MUSIC--National Airs, Ohicago Exposition Grand March, com- posed for the oocasion by Prof, Flodoard ‘Hoffman, Address and delivory of the Building to the Board of Directors by the Chairman of the Exeoutive Committes, N, 8. Bouton, Hsq. Response and accoptance on behalf of the Boord of Directors by Hon, 'W. F. CQool- baugh, Vice-Prosident. MUBIC--Festival Overture, by Prof, Hoff- wan, Addressos of Welcome by Hon. L i Bond, Mayor of Chicago, and His Excellen- oy, John L. Beveridge, Governor of Illinois. MUSIO--Potpourri from Martha--Flotow. Address by Hon. John A. Logan, Unitod Btates Senator. MUBIC--National Potpourri--Heinioke, Address by Hon. Richard J. Ogloaby, United States Senator. MUSIC--Galop Welcomo--Fauat, VAAS & HOFFMAN'S BAND, Composed of Forty Pieces, and conducted by Prof. Flodoard Hoffman, will furnish the MMusic for tho Opening, and Daily during the Exposition. TICKETS OF ADNISSIONFOR THE OPENING: Entrance on Michigan-av., fronting on Ad- ams-st. Exits, Michigan.av., near Monrog and Jackson-sts, Doors open st 7. INTER-STATE INDUSTRIAL EXPOSITION OF) Cn10AG0, Bopt. 3. Stockholdars falling to recolve tickets to the **opening by mail, will be supplied on application at the Seoretary's offico. JOHN P. REYNOLDS, Becretary. COD LIVER OIL, WILLSONS CARBOLATED €0D LIVER OIL Is a Speclfio and Radical Cura for CONSUMPTION AND SCROFULOUS DISEASES, L It comes In large wedge-shapod bot ng the Tuvantor's siunnturo, &nd 1s sold by tho best DruFEist: Propared by J, H, Willson, 83 Johu-st, N, ¥, D, Foraale by all Drugglile: , agutes & EDSALL, Chicago. . R & bSO £ 0., Bt. Lon TRUSSES, Rupture. The ovil effoats of misfitting trusses are acen every day. ‘Tho long experience of Marsh & Bowles, 103 Rast Wash- dngtonat., onsbles them to guarantes easo, comfort, wad cures with ovory {ustrumont they fit, making also s spocialty {n bow logs, club feot, spiasl carvatars, weak waklos, &o. Thoy olalm to excol all others in this Tmporters and manufacturors of elustio stock” auspensory bandsgos, shouldor-braces, crutohos, tont fomals to walt npon ladies. Fronting on Olybourn, Hawthorn, and Racine-avs,, Sophis, Lewis, and Herndon-sts,, ABOUT EIGHT BLOOKS WEST OF LINCOLN PARK, AT AUCTION, BY WM. A, BUTTERS & 00, ON MONDAY, OOT, 6, 167, AT 1} O'OLOOK P. M., ON THIE GROUND. Thoso lots are dosirably located in the fine nuraery grove, only two miles from the busi- noss centro, and olose to the OChicago and Olybourn-av. horsc-cars, The ground is high and ary, soil rich, good sidowalks, water, eto. TLots 25 foot front by 126 and 135 foot deep to wido alloys, THE TITLE is perfoct. An nbatract will be furnished to each purchasor, TERMS : Only $20 cash on day of salo, $150 in 30 days, balanao very easy. A Rgroat portion of it can remain on long timo, at only G per cent intorost, Hero ia a splondid opportunity to seouro a safo investment at your own price, os tho eale ia positively without reserve, $&"For the ncoommoadation.of the working classos, tho proprietor will bo at No. 615 Olybourn-nv. on Sundsy, o show the property. ‘WM. A, BUTTERS & 0O, Roal Eutato Auctionoers, 144 and 148 Dearbo; NORTH EVANSTOL. Beautiful Grove Lots 50 feet by 190 feet, for $800 and #800, on Monthly or Annuel Payments, These Lotsarelocated convenient to Depot, School, Stores, and Church, and are a safe and well paying investment, SAMUEL POLKEY, 144 LaSalle-st. FOR SALE—GREAT BARGAIN, 264 foot on South Park Boulevard, running through t Vornoneav., 451 foot south of ‘rhlr'{ianw:m“; ¥ quire o 08 WL, § -t, | & CO. Northwost cornor of Doarborn and Mudisai-ata, Given Away ! 100 LOTS, 252125 foot, in a boautiful suburban villn Qommutation faro, 13%c, Wo chargo only for \betracts, and tprovomant of siroate, T o ow this proporty, . A PrPOI gy fadationt, GENERAL NOTICES. TIGKETS OF ADMISSION TO TELE EXPOSITION, Tha followicg will be tho rogulations {n regard to ad- minion to the Exposition. Tlcketa will bo fasued as fol- Tows: S EXHIBITORS' TICKETS, Admitting an exhibitor only, st any timo durlog exhibl. tion hours, and positively not transforable, 810, BEASON COMMUTATION TIOKETS, Good for thirty sdmissions, $10. BINGLE TIOCKETS, Admitting the holder to the Building, with priviloge of romalning through the day and evening, oxcopt as hore- inafter spacifiod, adults, £0 conts; childron, 25 conts. BINGLE TICEETS FOR BATURDAYS Admltting the holder to the Building, with priviloge of Tomalning through tho day and evoning, except as upact fiod bolow, adults, 25 cents; ohildren, 16 conts. EMPLOYES' TICKETS, Roglatered and not transforabls, and good for forty ad- missions, may bo purchased by Exhibitors only, for the exolusivo ase of porsons in thelr employ in the Bullding, on wrlf pplication to the Chalrman of Ezeoutive Committes, 84. Evory Exhibltor's and Employo's Tickat will bo regis- tered by number and tho namo of purchasor, and if pro- sontod by any other porson will be forfelted. When Bpecial Entertainments for ovonings aro to be given, the Bullding may be closad at & o'clock p, and the prico of admlssion for tho ensulng evening incroased, Tiokots will bo on sale at tho Tickot Offices, on Mioh. A entrance. Eshibitors' and Soason Commutation Tickets will also be sold at the Troasurer’y Officoin tho Bulldlng. Tho ontranoe to the Bullding for Visitorsand Exhibitors 43 st Adamu-at. nly. Exitaat oithor ond of tha Building, Oarriage oxit at South end onty. ICE. ICE. ICE. Packers and Browers wanting large quan. tition og‘xnu ratr th? x-a"mlunc}fr of tl;e .Mfiin y can make contracts at low flgures by cal at TR B U0k 161 LaSalio-s JUST RECEIVED BY Van Sohuack, Btovenson & Reid, Anothor largs nvolcs of Porry's justly colebratad Mot And Frooklo Lotion, and Comodons and Fiopie Rarmau ‘Thess goods are roliabls, PAPER HANGINGS. &c. PAPER HANGINGS WHOLESAII AT FACTORY PRIOES, J. J. 'GRATH, 174 & 176 State-st. DISSOLUTION NOTIGE. BT Lot odo ol bt 2 TR DISSOLUTION. Notloo s Lieroby givon that tho co fore exlating under the flrm nam: oliwarz, rutall hiardwaro doalors, {lwaukee. In tho Oity of Chicago, 18 this day din y mu consont, ~ Tho said Charlos Rixen only tharlzed to colloot {he nutstanding soovunte, and will pay all abili~ Cttae e 2, 16m, JULES S0HWARZ, i sl vl OILAS. RIXON: DISSOLUTION. The copartaership horotafore known as D, 8. Whitte hall & Ca., conalsting of D, B, Whitten! denburgh, and John‘lnfl. i3 this day d! vod, and all accuuats with and againat sald firm muat bo sottled by D, B, WILITTENHALL, 66 Stato-st. Chie L t7s, agv, B DISSOLUTION. Tho partnership exiating bot 1h dersignod and D B A st T Arn f Jurdan & Co., Oyuter Doalors, Daltlmore, Md., ftor b reprisontod in Oblcago b HOKIE & V AN[‘!NIHERO. LAKE NAVIGATION, GOODRICIPS STEAMERS or Raolno, Milwaukeg, Shebosgan, ota., o aaat ¥ a, o neborgan ate., dulry Sundeys ‘waukew, vto., don’t loave untll § o, or_ Qrand, Havon, Grand Tapids, M 3 Forp oo deuiyont, Hsnhuderie, Maskogon, Sorine coptad, 7 p . 8t, Joseph, dally, Bund . m, O isya, bokt Aot lonve aiit 15 opeds 108, . Bate or Groon Day Ports, Monday, Wednssday, and Felday, o o i Monday's aud Wedaoudas's boss foss 1o iohn will hor LW.FABER'S & EAGLE Lead Pencils, AT WHOLESALE AND RETAIL. CULVER, PAGE, HOYNE & (O, 118 and 120 Monroe-st., Chicago. CONBUMERS will flnd it profitable ta got_our prices boforo orduring. elsowhorw, TINDLE & JBNHING, and Tlotall Stationers, Printors, ‘and Blank Book Mauufscturers, 168 Ulark-st. EDUCATIONAL, = ESTABLISHED 1858, INCORFPORATED 185, THR DYHRENFUYRTH COLLEGES, 5y EDUCATIONAL COLLEGE WEBTS o D01 dua 208 Mitwiiukeg-nve o L. SIDE EDUCATIONAL COLLEGE, N ek Tl Mot Cfarle . Gollegas 1a th o b and prmstioal othing oot on ovs ana b et S ol ncludie o closely graded Primary Depart- Grammar Departmont aad 1iixls Sohool, Tho Fao. xporioncod’ Profossors and As. s rogarde furaishing, s 10 accurdance 2 T iE, Located at 149 Kant st ls the Prosidont, as. slifod Tho thousandi of grad o reforred to con- i octondy and e “Shatgse sfo Yoty modorate, Kveniiy Besion conumenoos Oofober 1+ Nor Ftiolats of olihar of the turoe Uolleace ADDLY At the 058G, Ticolny's Opera Houss. HAMILTOR, 99 State-st., OOR. WASHINGTON, Invite attention to a very rich stock of Watches, Diamonds, Jewelry, Solid Silver, SILVER PLATED WARE, o, KT, Of the Choicest Designs and Best Quality, which they will at all times be pleased to show. FINANCIAL, J. D. EASTER, Prest. T, G, WELCH, Vice Prost. H. V. SMITH, Casblor. Tho Garden City Savings Bank, CAPITAL, $100,000. No. 78 Sonfh Halstedst, near Madisost, TO "TEITE WEST SIDE BUSTNESS MEN. THE GARDEN CITY SAVINGS BANK Is propared to transact o General Banking Business, Interost allowed on Deposits in Savings Dopartment, Oolleotions made on all available points, and proceods credited on day of payment at CURRENT RATE OF EXOEANGH. Gold, Bilver, and Oanada Currency bought and sold, Office Hoursa from 10 a. m. to 3 p. m. Mon- days and Saturdsys until 8 p, m. Adam Smith & Son, Bankers, First National Bank Buildlng, Sonlhgest corner of Stale and Washingtrsts, Chicago, Deonlers in Gold and Silver Bullion, Bar, Lenf, Bheet, and Granulated Form for me« chnnical purpos; o8, Deposits rocoived in either currency or coin, subjoct to chack without notice, b llx por cent interost allowed on all daily slances. Checks upon us pass through the Clearing- Houso, as if drawn upon any oity bank, Interast oredited, and accounts-current réndored monthly. Ooin and Ourroncy Drafts on New York. TO SAVINGS BANK DEPOSITORS. CLARKE, LAYTON & CO., until furthor notice, will sell first-class Chicego Reanl Estate at the lowest markot prices, or Houses and Y.ots and Unimproved ILots at Washing- ton Heights, and take the cash pay- ments in books and chocks on any of the Chicago Savings Banks whose doors aro not closed. There is no better or safor investment than Chi- oago Real Estate, CLARKE, LAYTON & CO., No. 120 LaSalle-st. FRANKLIN BAN Checks on this Bank taken at par, on any sales of Real Estato made by us. NICHOLS & FITCH, 146 Dearborn-st, THE DINE SAVINGS BANE, For the next 60 days, will allow to any por- son desiring it, tho privilego of openinga temporary savings account, so that small sums may bo put in for anfo keeping, and without intorest, or withdrawn at any time without notice. The usual business trans. acted. No commercis! acoounts allowed. W. KELSEY REED, Oashior. DIC ‘\)llim against Janad; nd Roiestteen KRAST wbsothorn, i 'ION AGENCY, 145 Madison- tios St now ready for dellvory 1 MERCANTILE COLLEO1! at., Chicaga, Money to Loan On first-closs Obloago proporty, at 9 and 10mor eent. - Will buy tiret llon purchaso monoy mortgaes, . D, HARVEY, 174 LaSalls ROBERT WINTHROP & 00, BANKERS AND BROKHERS, No. 18 Wallat., Now York, ozecute orers for STOOKS, HONDS, AND' GOLD, allow 4 por cent iutorost on DE- PORITH, and transol ‘wonoral Bankiug aad. Brokerago uslnons. WANTED, Situation Wanted. Tho advortisor, who has hiad sevoral yoars' oxporlance 1n all dopartmonts of the banking businoes, and s afirst- olasa bookkosper and accountant, desiros a situation in sowmo bauk or moroantilo houso n this clty, The highest 'l aforencos furnished, _Add, LY, TEITD. An old-established Life Insurance Com- A7 AT ?‘uny Wwill pay o modorate sulary to one or ITOR, Tribune gfllun.o 4 = OFFICE FURNITURE., DESKS AT CosT, To Olose Business, 112 Fifth-av, THE PANIC SUBNIDING. An Tmproved Feeling Everywhoro--- No Bank Failures in Now York, Suspension of the Firm of Howes & Maoy. No Probability that Clews & Co, Will Resume, The Union Trust Company Will Pay in Full. New York Banks Resolve to Sustain Each Other. The New York Stock Ex- change Propose to Re=~ sume Business, Grain and Provision Markets Stagnant, Dry Goods and General Trade Not Affeoted, Enconraging Reports from Boston, Phila- delphia, Baltimore, Richmond, Hart. ford, St. Louis, Ete, Northern Pacific Railroad Af- fairs, ' Local Feeling Much Improved. A Bad Outlook for Unfinished Railroads. Expected Discharge of Employes, NEW YORK. Special Dispateh to The Chicago Tridune. THE MODNING HoOURS, New Yonw, Sopt, 24—8:10 p. m,~The depression which scitled down on tho city last evening continued this morning at tho opening of businces, It was gon- erally recognized that the deprossion was unwarranted, and that the exciloment consequont on the failuro of 80 promincnt a house 58 that of Heury Olews & Co. Diad caused tho actual disustors to bo e3aggerated and augmonted, and tho panio unnecessarily superficial; and panic-strioken thinkors had gone 5 bed domorale 1zed, whilo wubstantial snd conservative financiers had retired serious and a littlo approhenaive, but still strong n tho bollef that the panic waa practically end- ed,and {hat the banke could sustaln themsolves, Doth parties rose in the ssmo humor, and, with the samo impulse guiding both, thoy crowded into Wall atreot at an early hour this morning,—the first, exclted and nolsy ; the second, serious and dispoaced to be gruft. THE OROWD ON THE sTREET was ot g0 largo as on previous days, but it was moro fmpressive. In front of the Stock Exchange, in Broad street, there was gatharod, carllest of all, a largo group of brokers, who discussed tho probabllities of & re- oponing of the Exchange, _For a time they blockadod tho ntreet, and thefr nolsy discuasion on the advisabil- ity of opening the Excliangeso diaturbed the peace, that tho polico, apprehensivo of o tumult, caused large trucks to bo repoatedly driven through tha trest, in ordor to dimperso the crowd, This plan, how- ever, proved futfle, As soon ns the wagons bad passed, the gaps which they had made in the crowd rapldly closed up, and the nolse, confusion, snd discusslon continued unabated, Finally, whea it was announced that THE BTOCK RXXOMANGE WOULD XOT OPEN during the day, this group of regular brokers gave way to an oqually large gathering of oporators, whoy by thelr loud vaciferation and gesticulations, mnds the atreot moro hideous than their predecessors hd done, On tho sidewalks were thoussnds of men who carod nothing for the Btock Board or for stack speculations, but who were anzious sbout thelr bank balances ond who dreaded fo loam—what thoy expoct: ed overy moment to hear—that thelr private banks had succumbed {o that prossuro which has ruinod only private Lankers or rotten bsnks, The fallowing Ja llst of correapondents of tho susponded firm of TIOWES & MAOY 1n the varions Western Statea Illinojs—Allon & Pinero, Grafton; Dailey Thomas Cawmp Yolnt; Burgesser & Crano, Glayton; Crane, MManson & Co,, leurlyi Ferrls DBrothers, Princeton A. A, Glen, Mount Stertlng; Heaton, Duliola & Ohies: nut, Virden ; Henderson Loan and Iteal Estato Come sy, Carlinville; Jenkins, Dunn & Co,, Minonk; G. , Lawronco, Pana: Mayfield & Co., Tdncoln; May- £6ld & Co., Metropolis; Prico & Eilenbonn, Mohdotas Willlam Bhopard & Co,, Jersoyville; Whoelor & Allen. rold, Cambridgo, Indiana—Jesso Amnold & Co., North Manchester ; Oulbertson, Brown & Co,, Now Albany; ¥, I, Foust & Go., Columbia City ; Indfsnapolis Insutance Gompany, Tndlanapolis; B, Moyer & Co., Kendalvillo, Towa—J, W. Dobbiiia, Stato Qentro; Issao Ganmos, ¥Fort Dodge ; Matthow & Bon, Rockford ; Btacy & Wal worth, Auamous; Tracr Brothers, Vinton; Wilon Van Saun & Co., Gedar Falla, Michigan—Dowen & McGowan, Coldwter: Gillett, Orrin, Parma A, Ives & Bon, Defroit ; Leo & Goddoll, Barauno; Georgo L Maltz & Co,, Alpéna; J, Rogers, Decatur’ . P, heldon & Oo,, "Eaal Baginaws o Sheldon & Co,, Kalamazoo; A, L, Btowart, Owasso; Wetmore & Qo,,'Concord ; Wheeler & Co., Gorunnn. issouri—, Varaaw ; Cliiton Couw . D, Briggs, W y i 3. B, Blerling & Bon, non, Oh{o—Darber & Merrill, Wauscon; Gharles Bocasel, New Bremen ; O, B, Boscman & Co., McConnellavillo} City Bank, Otmton | Gommercial Ganking Company, Alllunce ; O, E, Ealon, Dreaden; Freeman & Huut, Warren ;' Greener & 00, Salom ; 'E, B, Halo & 00,, Qlovelsnd ¢ T, J. MoLain & Hon, Warren'; Ramsoy & Toeple, Delta § Tiesd & Toveratock, Dowling Green 3 0.1, Rice & 'Oo,, Ottawa ; Blark County Dank, Cane ton ;' Btibbs, Wanha & Co,, Woostor, "The first slartling event of tho morning wus the an- mouncement hat Howes & Mnoy, probably 8s trong & firm of privato bankers aa there tain tho clty, had declined to open thelr doors, In- stantly it was interproled asa fallure, It waa hours befaro {t bocame understood that thoes bankers had taken thisstep solely as o precautionary mensuro, bo- Hoving that, In tho excited atato of the market and gen oral inability to reslize on a partioular claas of securi- tles, they must eventmally run short of greenbacks, There liad boen on Tueaday an indication of a pauicky run on this honso, consequent on the fact that it is in tho samo bullding with Olows & o, who hiad just falled, Of courno, the supension to-day had A VERY DEPRESSING RFFEQT, but It was nothing like that which onsuod yesterday on the closiug of Clows & Oo. It started » runon Yermilyo & Oo,, renewod that on George Opdyke & Co,, and thero waa & show of depositors clamorous for their money at tho windows of Dolmont & Co,, but nous of thoso hiousey showed the slighteat indications of weakucss, Howes & Macy's failurs, ff, indeed, it moy be called 80, & mot looked upom as serlous, The clief foar s that tho temporary suspeusion will affect the Company’s corronpondents In other oltles, and 30 help to keep up the exoltement ‘which all aro anxious to allsy, Upon tho heels of this suspension came tho nowa that Olews & Co, had swamped their LONDON HOUSE OF OLEWS, HABIONT & 00, ‘The over-drafts on the Londan houss are sslimated a4 $1,200,000, or about the amount which Clews & Co, ald out provioun to their suspension, Tho {nforme- tion to-dny leads to the aupposition that Clows & Co.'s falluro fa comploto,—cortainly a8 complote as that of Jay Gooke & Co, Howes & Macy may resumo shortly, ‘when malters aro qulsted down, but fow hopo for such good luck for Clows & Co, Bouthern socurities and raflway bonda havo finally boon tholr ruin, Theaetwo ovents are really tho only dissatrous oncs of the day and yot tho actiona by tha BTOOK-DROKENH AND DANK-PRESIDENTS aro misconatrued by the genoral public, and holp to fn- oroaso, for thotime boing, the gencral doprossion, In tho firat place, a numbor of ownera of varioua siocks ‘which could not bo hypothocated wers forced to placo thom in the handa of auctionoora at tho Real Estata Ex- chunge, and thoy wers old {o tho highost bidder, o procodure unknown herotoforo in New York finances, 1t was looked upon ot first sa an indication of tho ‘worthleasness of securitics, But it waa moon found thiat stocka sold at oxeellent prices, and brought thair current valuo on tha streot, It wan also scon that tho Luyers wroro fortunate man, with plonty of groenbacks to inveat, who wero LOADING UP WITII BTOOKS attho presont low rates, with tho design of taking thom out of the market entiroly. As, of course, thoy loft thelr grecnbagks In tho morket, thls unuaual pro- coss of solling stocks was practically o rollef, Yot it sorved to excitaand dopress tho loss obsorving and logical, Bales on tho sireot, which began immedie ately on the announcement that tho BStock-Ex- ciange would not open, wero at fair rates, compared with thoso that rnled at tho closo on Satur- day laat, so that, altogethor, thero 1a reason to be ou- | couraged rathor than deprossed by theso sales, TOE NEXT EVENT to influonce the atreot was the sunouncement that res- olutions had boon passed by the Oloaring-Houss Com- mitteo ropresonting thie various banks, The firat resolu- Hon, {asuing an additional $10,000,000 for loan certifie cates, had beon undisputed, and caused good feclings and was encouraging. Ths propoaition to obtain $10-, 000,000 of Governmont bonds, to be sold. to tho Treas- ury by the banks, wasalso sccepted a8 sn indication that the banks wero laboring wiscly and well; but tho Inst propoeilion, resolving thet banks should not cash heavy checks for currency, but should certify such chocks as good only whon pnesed through the Clearing-House, was at once {rans- Iatod to boa practical susponsion of the banks of the Olearing-Tlouss Assoclation, Thoro was a good deal of fecling on tho snnouncement of tho sdoption of this resolution. But the discussions which followed havo proved that the resclution waa a wiso provision. In the first place, it provents panfo-strickon dopoaitors from drawing out thelr monsy and hoarding it, thus taking greenbacks out of the strect and from business, In the noxt placo # facilitates business by makipg moro -liberal tho cortification of checka through the bsnks, thus bal, sucing accounts without tho employment of much monoy. It ia understood that tho banks will Liverally provida for all legitimato busincss and msnufacturing firms who need money to pay emplosos snd to con- tinue thoir oxports and {mports, The action is now looked upon as {dentical with and os bonoficial as the suspenslon of business on the Stock Exchango, as it helpa to allay excitoment everywhero in the city, THE BAVINGS BAWRS have been perfectly quist, In fact thers has been no time during the panfo when tho officors of these fnstie tutlons were doubtful of thelr ability to mect all de- mands made upon them, and the confidence of de- positors has been most remarksbly displayed. The cntire PAYMENTE FOR DONDS for the day are nearly $3,000,000. Tho total purchascs amount to very nearly $12,000,000. Loan cortificates dlnposed of, thus fur, foot up a total of $19,500,000. Gen, Hillhouss, Bub-Troasurer, on finding that the purchaso of bonds had aggrogated $11,800,000, refused to make a further purchass of $200,000, stating that he was authorized to purchase only $13,000,000, TIE DEY GOODS TRADE. The ponia has not apparently meriously affected mercantile houses ond the principal trades. The principal dry goods men report no lack of confi- denco among buyers, no marked declino in prices, and little excessivo appiélienston for the future, Ship- ments havo follen off a little, and purchasers are can- tious about making large {nvestments, but this, dealers look on, as & °good fault, Claflin & Co, calculate tho curtailment in purchases of dry goods at about 20 per cent of what they had dono befora tho panc began, Peske, Opdyko & Qo, say tho heavy Western buyers of dry goods have como and gone, Trade fs still active for tho time of year. Country buyers look on tho panic o8 o Wall street flurry, ‘Trade is in o healthy condition, a8 merchants taok warning o year ago and have put business on a sounder basls aud kopt collac- tions close, THE NIOWES 4 MAOY FAILURE, TMowes & Macy attribute their suspension to the tightuess of the money market, which mado such a step advisable, They add: “Wa have uulimited securities, but cannot turn them fnto cash at present, Our suspension s only temporary, As soon 8 mat- teraon the street take their courso, wo shall resumo business, Yo can pay dollar for doliar, and more, if nocessary, None of our dopositors will lose a cent, Infact, we havo been compellod to do thia to socure thelr interoata," Falss reports of (he firmvs fallure, cir- culated on the streot on Tuesday afternoon, had pro- cipitated tho run upon thom this morning, for which they weve not prepared. This run was the im- ‘medinto cause of tho suspension. In anewor tos quos- tion a8 to the smount thoy had pald out during the panic, *x, Macy said that he could not tell just then, nor could ho furnish any statement regarding tho standing of the firm until tho books should have undergono a thorough examination, which was then in progross, Tho fact was elocited that tho firm had beon paying out botween $50,000 and $100,000 o doy ainco Jay Cooko & Co,'s fatlure, They continued to pay out funds a2a fast os called for, untll their cash balanco became exhausted, ond then thoy stop- ped, Mr, Howes eaid that thoy had not borraweda dollar and did not intendto Lorraw ono, * Wo bave Plenty of the vory bost sccurities, but wodo not pro- pose to sacrifice at prices now current, The fact of the matter i2,that the general suspension of large banking inatitutions hos becomo a mocessity, snd the sooner it takes placo the bettor, Bmall houses can afford to hold ont, perhiaps, but larger ones must suspend or go un- dor. People who bring thelr monsy to us and oxpect to get 3 per cont interest must mot think that we put it intoa corner to look at. No, wo fnvost it, and ‘we cannot convert our investments on the jump with- out groat damage ta oursolves, At any rato, we don’t propose to be the authors of our own ruln, #o our de- positors will have to walt," Mr, Howou said the de- positors of thie firm were about equally divided be- tween thio city and country, He could nat say poste tively that suspension would not affect ono or two out~ of-town housos, Whilo conversing with Mr, Howea soveral porzons entered to make deposits, None of Howes & Macy's checks hod becn rojocted at the Oloaring-1louse, nor had any scourition been offered the bank by thom, All thclr dealings had been on cazh baals, (o the Astociated Press,) A DETTER FEELING, Nxw Yonr, Sept. 24,—The fecling In monotary clr- cles this morning was slightly botter than last evening, aftor the suspension of Honry Olows & Co, was an- nounced, The cloaing of this eminent houss to some oxtont destroyed tho feeling of confidonce observable yostorday morning, and whon the announcoment of the suspension of HOWES & MACY waamade the uneasy feellng waa intemsified, Mr, Macy sald the firm had suspended bocause of heavy drafts made upon it within the last fow days, but de- clined to atato the amount which hsd beon withdrawn, The securitioa held by the houso wero ample, he be- loved, to proteot all depasitors, but ho declined to say snything elsein regard to their character. e also doclined to make any statemont in rogard fo sesots and Mabllities, When questioned sa to tho probability of resumption, ho sald that he waa unable tospeak of that at presont, Mr, Howos woa almost coqually roticont, Ie mald that the house had 'UNDERGONE A IEAVY RUN, and {ts demand loana could mob bo collected fast ouough to furnish it with sufiicfent cash to meet auch a drain, Al their soourltics were gaod and negotiable whon thera wasa market, but be would say nothing further in regard to thelr charactor, He thought that no dopoxitors would loss, The firm had had no troublo with any bauk, aud bad not borrowed s cent, e doclined to say how large an amount of deposits bad recontly beon withdrawn, No bauking fustitu- ton, fu his opinfon, could posibly continue businen: at present, if thore was & run upon it, A mesting of the CLEARING-TIOUSK ABROOTATION wanhold at tho Morchanta' National Bank to-day, Mr, Vermilye, President of (he Morchants' Bonk, pro- ided, The Olairman of the Loan Commlitee ro- ported that $10,000,000 of loan certlfcates, authorized tobo {ssuod to the associated banks, had been all taken out, whereupan it was resolvod that an addi- tional aum of $10,000,000 bs authorized, The follow. ing resolution was adopted : 4 That all checks, when certified by any bank, shell bo firat atamped or'written * Payablo throiigh tho lear- ing-House,’" “I'he following resolutions were alao adopted ¢ “That in ordor {9 supply the public dowand for ool tonder notes, and renew impairod confidence, the Glearing.House Committea be authotized (o purchaso any part of $10,000,000 of United States Londs, andl ~ to proours the redomption of {he same by ~tho Becrotary of tho Treasury, Tho loss, or cost of "the transaction, o be divided among the Now York sasocintad bankn pro rata of tlie amount of thelr doposits rospoctively, as shown by the rolurns of last week ; and that tho Committeo ha anthorized to asscss tho sharo of cach bank by drafts {he usual manner,” IT WAG PURTHER MEOLVED, * That each momber of tho Association constder him- self o apecial committeo to ancortain where such bonds could bo Liad : o fnvile participation in thls offort of ovory fnatitutlon aud_individual in tho community, and roport the result to tho Chairman of the Associa: ton to-day." B The followlng reeolution was also unanimously adoptod 3 “That tho Prealdent of the United States and the Becretary of the Trennuri' Do solicited by the Chairman of thin Association, by tolegraph, to propay. ontstonds g Unitod. States bonds dio on’ tho 1ut of January, Tho following resolution was nlso umanimously adopted s “Wizneas, Tho Lanks componing fho Olesring- House Assoclation, in order to allay publio excitement and restoro conlidence, ara tunited togothor by com- Dining &nd averaging thoir nggregato rcaorve, aud, to {hiat end, have generally relinquislied for tlie commion good whiatover superiorily in position any of thom posacssed over their nssociates; and “ Wienzas, It would bo ‘manifestly unfalr that any momber declining to puflclimto in the arrangement should derive a fictitions credit and reputation in the businoss of tho community at he sacrifico of ofhora} “ Regolved, That any momber 8o conducting himacl #hall Lo rcported to tho Manager of tho Clearing- Tlouse, who shall forthwith oxpol iim from this body, and checks upon {t shall be drawn by presentation im- mediately tols{;gl‘,lll Agent appointed by him for that purpoac, {n behalf of the Assoclation,” A COMMITTER OF THE STOUK EXCHANGE to.day sentto tho Chalrman of the Clearing-House Committeo their viowa 08 to tho propor coursato be pursued by thobauks to save thomsclves from furthor complications, nnd enabla the Stock Exchiange o ro- sume operations with safety to the banks, thomsclyes, and thoso whose {ntorestu they ropresent, Tho Corn. mitleo say : *The true plan intho ‘:teuent emergency in our opinfon i that those bauks who wore content to malke cloarances with each othor_should, to the oxtont of thoir ansaciatod capital guarsntoo paymhontof checks cortifiod by banks aliowed to enter into the Clearing- Houso, It moy seom invidious or unkind to deprive any of tho existing assoclation of banksof its conneo- tion with the Cleating-Houso, but wo submit to yaur consideration _the fact that in tho present sfato of affairs it fa noccsary Lave the moral courage to sacrifico weak members of your prosent association rather than bave all the ‘banks of New York suffer the disgraco of a suspension of paymont, Thioro 1o no noed that this step bo tuken violontly so 8 to cause undue lossea to those banks whiom tho mujority may distrust, Such banka mny be notified to roduco tholr abilities snd curtai] thelt en- gofomonta witlin a day oc two, oud after that time, € the other banks will ndopt our suggestion, we can, with safety, rcopen o Btock Exchange, first passing a Iaw thot all transactions of our members shall be satiss fiod and completed by o certified check on any one of tho banks ontoring iito {ho mutual gustantee, This swould at onco procludoall domanda for legal-fenders arising out of operations of the Stock Exchange, and tho manifestalion of confidence on tho partof the banks in thomscives, and corrceponding evi- denco of socurity in the solvency of the bLanks shown by the Stock Exchange would in our fudgement s Induence tho publle mind Hiat fo- stead of susponding payments, our banks would bo ablo to pass through the presont criafs with unimpair- od credit, To cuable banks who nssent to_our propo- #al to feel that thoy are not entering into an unlimited guarantee of thoss whose condition thore s not now time to investigate with nccuracy, we would suggest that bank clearings be made an hour earlier than at preseat, aud thst on the dlscovery at, tho Clencing Touno of any wenkness ou tho part of a bauk, the President of tho Stack Exchange shonld bo at oncs no- tifled that such bank would thereafler be excluded from the guarantee of the association, On our sido wo would recommend that bours for delivering stocka should mnot begin until after the cleurances of tho previous day bad been made; ns an offest. t0 which wo wotld probably Lave to oxlend the time beyond a quarter past 2 p, m,, our present Mmit for receiviug stocks, until 3 p, m., and E\Ofillhl’ have 10 roqueat th banks tozomath open nntil Lalf past 3 o'clock, 60 s to completa the day’s transactions, Tho wholo arrangement, of course, to bo temporary until tho present cridin hna pasaed and mattrs resumio thoir usual course, We would further recommend the adoption by tho assoclated banks of a resolution that they wllt not, for ten days alter the reopening of the Exchange, call in any loans to brokers which are sufll- clently secured, but that on tlw contrary thoy will 1o the extent of {helr ability muko new loans upon op- proved collaterals ot falr margine, By the adoption of thoso measuros we belleve the present panlc can bo stayed, and that confidenco will roturn, Signed Dby Abram B, Baylis, Edward King, R, L. Cuiting, Jr., Heury @, Cliapman, John R. Garland, The banks aro paying manufacturors’ pay-rolls in groenbacke, “Tho Cashier of the Eourth National Bank expresees tho opiufon that tho issue of $10,000,000 additional loan cortificates by the Clearing-Touse, aud {ho promise to repest this uction if neceasary, haa placod the banks OX A BURE FOUNDATION, and that no further trouble need be apprehended, AL thio various savings bauks throughout tho clty matters wero oxtremely quietto-day, Persons appoar o bo regaining their senscs agatn, and have confidenco in the stability of tho banks, Largo numbers of de- posits were made to-dny by persons who were most anxlons to draw their money on Monday, Near tho closo of the day, speculators, who find profit in fusnclal excitement, gave cisculation to numerous WILD nDORS which proved to bo wholly unfounded. Bome of these were to the effect that notod banking-houses had sus- pended, while really the businesa of thess firms was going on s quletly as usual, Faflures of dry-goods firms were nlao reported, but no basis for the reports could be discovered, Tho representatives of a num- ber of the lnrgest housea asserted that business was botter at proscnt than at {his time a year ago, THE BTATE OF TRADR. The leading grocers, petroloum and hardware deal- era throughout ths city deny that tho present financial oxcitement has had tho slightest effect on thelr busi- ness, and say that rumora to the contrary are gotten up by speculators, who wish the panic to continue, The Express soys : “Tho doys closes with AN IMPROVED FEELING allaround, Tho nction of the Clearing-House, the absonca of additional fmportant suepensions, togethor with thenon-confirmation of provious alsrming reports from tho West, aro among the causes loading to this result, Tho following, relattvo to PRODUOK MATKETS, 18 from tho Ezpress: * Business in tho differont lines of produco was entlrcly blockod, and, under pressuro to reallze, valuea wero docidedly lower. Tho only ‘buslness was In & small way o tho local trade, who ara nocessarily compolled to by to supply urgont wants, Shippers wero entircly excludod, a8 the selling of exchangs was out of the question. Dfany of the prominent flour ond grain men who have supported shippers by supplying them with produce, hoping that by to-day there would bo some markob for oxchange, withdrow and doclined to con- tract &ny furthor bills, Whoat aud flour aro slll do- clinlng, and provisions e scarcely salable atany price, Cotton was dull and hioavy, and a general focl- ing of anxloty provailod, The Produce Exchango has petitioned the Government to rolieve tho block in the market for foralgn exchange by buying a certain amount of bills now offored, The aituation at the closo of the day was marked by a battor fasling, and further progress has boon mado in clesring up old con- tracts, Judgo Fancher {his aftornoon, on application of couuel, modifiad the injunction agalnat TILE UNION TRUAT COMPANY 50 88 to pormit it to lssuo, registor, and conntersign cortificates of stock, etc., for partles with whom torms wer agrood npon for such sorvicos prior to Bept, 20, Judge Fanchor aleo granted an order permitting the Recelvor of the Union Trust Gompany, E. D, Wealey, to tranator to tho Albany Oity Bank $30,000 in the hands of tho Trust Gompauy a8 special deposit, tho tmonoyn of tho Albauy Olty Bank, and not subject to ordinary rules as to doposits, The Union Trust Com- pany’s statomont will ba ready tonlght, Tho Di- rootors say that the Gompany wili be ablo to pay dallar for dollar, and that the amount of the late Socretary's dotatcation will not excoed 200,000, ONDEH OF INVOLUNTANY DANKRUPTOY REFUHED, Judgo Blatehford hus refused to grant au order of Involuntary bankruptoy agatust the Unlon Trust Come auy. BTOOK OLEATING-TIOUS: The quostion of n ainck cloaring-bouso for tha clear- anco of stocks only 1a belng discussed by membors of the Board, David Groeabeok fs said to b at the hoad of tho movement, Whon business fs resumed at ths Exchange, it 1a proposed to incorporuto thin clearing Liouse {nto the machinery of tho Toard, PUROITARR OF FIVE-TWENTIKS BUSPENDED, Iillhouso statos that he hus oxhausted his d will make no furthor purchases to-morrow of five-twenty hands, yatil he rocelves fusther instruc- The Chicwgn Daily TEibune, CHICAGO, THURSDAY, SEPTEMBER 25, 1873--TWELVE PAGES. NUMBER 35, tons from Washington, having already pald out the $12,000,000, ‘Tho Trustoes of he Union Trust Company have not yot finfahed thelr statomont, From an examination of, tho fnatitution, 5t now appenrs that tho defalcations of Oatlton will bo ovor $400,000. Tho Company, how- over, oxpect o bo ablo to resumo shiortly, and profoss their ability to pay dollar for dollar, WasrtiNaToy, Sopt, 21,—Tho Sscretary of the Treas ury, thia morning, suggeated to the Presldent thnt tho purchaso of bonds now belng made coaso when $12,000,000 bavo been purchnaed, Mo mays tha Treaaury cannot furnish all tho currency that frenzied pooplo may want, and that tho Tressury muat ho kopt strong so that it may boln n condition to asslst come morce after tho financlal crlsts passcs, —— WASHINGTON. Spectal Dispateh to The Chicago Tridune. 'WABTINGTON, D, O, Sept. 24.—~No Information ofter thon in the press dispatches had Leen rocelved up to this evening by the Socrotary of tho Treasury rogarding the Toport that tho Committoo of Bank Prese tdents in Now York bad requestod Prosident Grant and. Bocrelary Richardson to antlcipate the payment of the January Juterest on Govornment bonds, The Secretary would not bo lkely to comply with tha request it tho motter woro loft entirely to is own judgment, but tho Presidont s apt to 8Ivo ordern somowhnt contrary to the views of bis Financial Minlster, A prominent Federal ofiiclal ro- marked this afternoon that the Wall streot poople, ine cluding somo of thoso Bank Presidonts, woro LIKE A LOT OF GHILDUEN, and don't scem to know what thoy do want. Tho Gov- ernment futorost 1s paysblo in gold, and it doos 1ot ap- pear o bs gold, but currency, that fs wanted to easo the monoy market, ‘Tle London firm of Clews, Hablcht & Co,, which suspended to-day, 18 indobted Lo tho extent of ABOUT TWO RUNDRED THOUSAND DOLLARS 40 the Governmont. of the United States. Had thelr susponsion oceurred about ono waok Intor, the amonut would have bean about $100,000 greater, s tho surplus of feos colleoted by thio Unitod States Conauls in ox- cess of thelr ofces for tho quarter ending Sept. 50 would havo beon deposlted with tho Lanking-housa roferred to. Dispatches will bo {mmedistely sout to European Cousuls directing them tomake their usual quartorly deposita with some othar concern, A DISCONOENTED OONSUL. Joneph P. Root, our Minister to Chilf, who Is now in this country, obtained on fho 12th fnst. a warrant for botwaen $£,000 aud $5,000 duo him 18 ealary, and ho thereupon doposited with Jay Caoko & Co., tho draft upon thoBtato Dopartment for the same, receiving. in roturn » draft upon tho Now York houso of Cooke & Co, Root was detainiod hore, nud, sluco the faluro of Jay Cookoe & Co,, o hsa beon trying to fne duce tho Foderal authorities to give him tha monoy ta which o {a entitled, The Iatior now have tho question under advisoment, and ho probability fs that Mr Toot will have to take his chauces with tho rest of thio deposltors with Cooko & Co. Comptroller Knox has not, and will not, give out for publication the namos of any depositors in the SUSPENDED FIINT NATIONAL DANK, ofthis clty, o says he has 1o right ta do so, and great injury might be done to depositors by giving publicity to thelr namea or the amount of their de posits, thereby indicating the amount of thoir loas, TIE BAVINGE DANKS here iave resolved to tako advantage of the provision of law requiring uotico of sixty daya to bo given by deposltors of their intention to withdraw deposits, TUE DALTIMORE DANKS Bavo followed the examplo of thosa in New York of pooling thelr assets and fasuing loan cortlficates repro- sonting 95 per cent of biils payable, or other securitics deposited by any bank, with o committeo appoluted for the purposo, which certificates shall be used in soltlements ot tho Clearing-Houso and received by creditor banks, Tho orrongement s not ta extend boyond tho Ist of November mnext, the certificates meantimo hoarlng 6 per cent intereat,’ This action, thougl not belfeved to bo demanded by any specinl existing neccssity, 18 dcemed wise 488 pro- cautionary measure, and 88 strengtbeniug and cone solldating thelr ability to accommodato the wauts of business men, Juy Cooke & Co.'s interest In the houas of JAY COORE, M'CULLOGH & GO, amounts to one-quarter, 170 the Associated Press.] Wasurvatoy, Sept. 24.—Tho Freedman's Savings Dank to-day doterminod that it will require sixty daysr notico from dopositors of thelr intention to withdraw ‘money, s BOSTON, Special Dispateh to The Chicago Tribune. Bostow, Sopt. 24.—The city has stood the shook caused by the new and altogetlier alarming reports of to-dny from New York without apparont injury, The confidence in the banks continues, and financial busf- neay 1 carriod on without show of excitemont, More than usual caution fa obacrved, and overy effort fs mado to get on without troublo until tho pressure ix over. Thetone of tho representative men on the strect Los beon admirablo; ond the timid ouse, frenzied by tho roports of possiblo general ausponsion of the Now York banks, havo been rostrained by good counsel from making any show of & run on tho banks or banking iustitutions, Bome few deposits havo been withdrawn, but there has boen no appearanco of waning confidenco in the banks, Some embarrassment hns been occasioned ta the agents of some of our produco houses who hare been making purchasea in tho country, by the rofusal of some country banks to honor drafts on this elty, Uecause they olther fearad to let go of their curreucy in the present condition of affairs, or disliked to take drafts beforo making most careful inquiries. Confidenco hus beom, in n largs degreo, austained by tho report of Boston bankera during the day, that thelr private dispatches from New York ware of an encouraging character, snd by tho publication of the statement of & city bank President, jhat our banks aro fully propared for any emergency; and that shortness of enrrency csn no bo oreated by New York banks drawing upon Boston correspondents, ‘Tho Boston agents of Henry Olews & Co,, F. A, Haw- ley & Co,, do not lose o dollar by the Suspension. They had s balance of almost §3,000 dute the Now York house yestorday afternoon, but on account of the sna pensfon they did not remit it, aud still hold it. Noto eingle failure fa yet reported in consequence of tha panio, Tho banks and all others are doing aa little ns possible, and tho progress of business 1s of necessity interfored with; but thero are yet no signs of unususl Qistress in suy department, i M ST. LOUIS, Spectal Dispateh to The Chicago Tribune, B1. Louss, Sopt. 24.—Tho baukers and merchants of 8t Louts are walting pationtly for the culmination of tho panie, Thoy have cessed to predict the end, ol though they profess to think that everything will soon bo all right. The banks grant continuances of ma. tured paper, but no Jongor discount except i extrome cases, Eastorn oxchauga is furnished to n limited ex tent, though one bank Prosideut told your corro- spoudont thia aftornoon that as much had gone over Din counter to-day, iu sight drafts on the Exst, a3 ou average days Lefore the panio commenced; this in- stance ia cortainly oxcoptional, The goneral doslgn is to keop EVERY OENT OF MONEY FOBSIDLE {n the city, snd not lot it go eithor Esst or West, Bankers iave ordered home all tho balauces to thelr crodit in tho hands of Eastern correspondents, The Beamat’s Savings Tnstitution will receivo $100,000 in this way tg-morrow ; other banks will rocelve in pro- portion, making an aggregate, probably, in few days, of nearly $1,000,000, No money to epoak of is golng out of the city fo country correspondents, Commfs- slon merchants are paylng nothing, pre ferriog that drafta on ibem from tho in. teror should go to protest, There ars ouly two small fustitutions in thocity that do an exclu- elvely BAVINGS DUSINESH, Al the savings banks coutinue tostrengthon themelv and small dopositors ns yet slhow no signs of alarm, Tho Freedman's Savings Bank is tho only oue that kg taken advantage of tho Shirty-dayw’ provisions in ity rules, and tomporarily closed its doors, They ox- ensed themsclven by aaying that thoy wanted tohear from the coniral house, at Washington, Thiu branch of tho bankiug bustness 16 not douo wnder general, but undor spectsl law, Mokt of this glas of bauks oro without oither » gonersl or speckl provislon tostay or provout a run, sud, I tholr depositors bo- camo frightencd, would pxy over {holr counters s long as thelr funds lasted, Ouly oue St, Loulu bauks w0 far as known, had s alanco at an Euslern houre thiat hns fatled, aid that ia tho Woat 8t. Touls Baviugl Tiank, which had monoy with Tauslg, Fisher & Co,, v: New York, The smoitnt {s not presumed o bo large. THE BANKENS SAY (it the movement of the crops wau slready beginning (Continued on the Twelfth Page.)