Chicago Daily Tribune Newspaper, September 27, 1873, Page 5

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IHE CHICAGO DAILY TRIBUNE: NATURDAY, SEPTEMBER 87, 1873 THE BANKS. [Continued from the First Page.] f tho loeal bankn to attempt {0 continmoonrranoy pays monts_In the faco of oxistfug_complications, id Judgod that the wiacat and only nufo conrso ta pursuie was for all tho lanke to order genoral suaponsion, and Lold tholr verorved funda until tho storm was ovor, and trado had begith to assimo its wonted clinns nel, ' Ho sirangly eupported the viows oxpressed hero £0foro n finnnelal cireles by Ar, Goolbmtigh, ad held that hind tho counwel of that gontlomnn been koonor addopted tho bnks wonld have disployed disciotion fn Hnely proparation for the fnovitable. The Couk Connty Natlonnl, A roporter yeaterduy bt his rounds poid.a visit to tha Cook County Nattonal Bauk, which was smoug tha first to uspend, Tho door was orunmented by s amall sheet of paper, fntimating to thoso who had business with the fnatitution that “ owing to the stringonoy of financtal affairs tho ank will recolvonio deposita and Poy no chocks,” It was o mild inthnation that business was at o staude-stll, and, 8o far ns the nifalrs of tho bauk wera concerned, all was tranquil and serene, Mr, B, F., Allon, President, and aother gentloman, known s one of the nblest nud elearcat-lieaded fnanciors of tho Northwest, stood challing quietly, Tho reporter wan plensantly recived, and vontured tho statement (mado porhiaps for tho thousundt! tinio thnt day to Mr, Allon) that ho understood the bank had suspended oporations, Mr, Allon looked up and fully colncided with tho viow faken by tho roporter, # Tor what Teason,” tho roporter delieately uggested, 4 Owing to tho preacnt stringoney,” commenced Mr, Allen, quoting from tho notice in the door—*yowtll fud 1t atl wummed up i that notiee,” smilingly added tho President. s Mvo you not openod to-duy7 v 44 No, wo hinven't cveu opened our mail tatter," Whint led to gl u resnit? " “The Yulon Natlonal Bank closed thin morning, and we, of course, followed Auit, Whnt wos tho use of our remainiug opon 7 7 4 What are you golug to do 2 % “Wo shall “stand athll for s day or twoand wateh events, gulding ourdclyes by tho nction of others, WVl the officr banks goncrally closo 7 7 # Can't ay na fo that, Choy will, T ruppose, if they can't do augthing olee. It 1a o question of tima, Thiore's nothing o exy moro than this,” The Munufucturers’ Nutlonnl, Fory satisfactory in tho way of informntion, this, but perhaps Mr. Holmoy, Preeidont of tho Manufac- turers' National Bank, would be better sble to {ilumine tho darlacss, Mr, olmes #at in bia offico, n spaclous, . well fur- nished npartmeut, 1t was uot very easy to seo tho ‘Ppleasant geutleman, 08 he was shoking bhauds with sbout tilsty gontlemen, This did not look 1iko a sus- pension, Wan Mr, olmea giving n rocoption, like Mortin Chuzzlewitt? Itreally nppearcdso, Every ow and then n depositor rushed fu. *Blnko hauds, Ira) sald he; “Yowvo fought it out bravely. They'vo all got to como lo it Givo us your fist, and keep A SHAr upper Lp” Then M, Holmes was giving o recoption, it becamo ovidont, For s muan with all sorts of unploasant prospects bo- foro i, Lo looked very hanpy ; nodded to tho ro- porter; sndd Lo did not mind boing interviowed, though ko hadu't much to say ; and finally drawing flio_reporler into a corner, compoked himself for tho unpleasant interrogation. 80 you Luve goiio tho way of all banks 77 ventured tho reporier, * Yea, sir 3 was tho bricf assuranco of tho reporter's previous information, 411 uot un Indelicato question, why 7" *Not at all {ndelicato. Wo camo to the end of our currency, aud coucluded to quit, That's ll, *When did this determination striko you 7" “ At prociacly 4 o%clock this morning, T've been np all night, ond feel o Little strauge sud unnatural in consoeqience,” . “What do you attributo tho collapse to 2" “Want of unity smong tho buukers, If they had tiung togethor thoy would havo survived the storin,” 5Ly didu’t tho banka co-operaty 2" “Tho proposition ought to buvo como from the strongor bunke, Tho weaker brethren wero awafting o proposition from them, _Tho propoaition nover cpic, You seo tho result, Ooncort of action would Lave #a them all,” “What will you do7» “ Whnt can be done? Wo havo assets enongh fo pay doliar for dollur, If auch a thingbecomes noecs= sary, We aro propated for auy ovent. Like tho rest of thiom we will wateh coming cveuts, and act aecords ingly, 1f tho wholo countrs gocs to'smnsh, wo_elill do as wall ns any bank, ond 8 great deal botter than tho most of them.” Bank of Commecrce, Tho announceuent that tho Bank of Commereo hod surponded opertions fuduced a roporter to fuquiro nt that bank, What did that bank think of tho situation ? ‘Tho bauk dd not know exactly what to thiuk. 1t had suspended becauro under the presont oxeltement. suspousion wus the wisest courso to pursuo, Whint (id tho Bank of Commerco think of Mr. Cool- ‘baugh's suspension 7 ‘Tho Bank of Commerco regarded the Unlon Natlonal ‘Bank os posscasing greator fuancial foroslght than suy similor ustitution, - Bupposing all the banka had all opened on tho day or two following the greut Chicago fire, thore would have been u punle, ‘Che policy adopl- ed by the banks ot fhnt time saved them, Such a policy wus needed now, Did the Bauk of Commereo think concert of action would have been beneflelal ? The Bauk of Commereo did, fad stops boen taken five days ugo to co-operalo, or oven as latu ws Tuursdoy might, there would Luvo beon uo panic, Thero wos uo unity'umong Obleago bankers, The Corn Exchungo Bank. Owing o tho suspension of the fiva banks abova noted, there was o very foverish afate of cxcitement about tho Chamber of Commerco whon banking hour cawe, nud un unfounded rumor of the coutemplated suspension of (ho Gorn Exchango Nutional Bank eaused ® very considerablo run on that institution, To thelr 1usting houor bo it sald the oficers of this inatitution wero fully prepared for suy emergency, They cordi- ally welcomed every one huving any demands against {ho bank, and dlschnrged with promplucsa ovory ob- ligation, o run on {his bank was partly attrib- utablo to dts conveulent proximity to the Unon No- tional, auspended, nnd partly fo the rumor of fts being shourt, The examplo became contagl- ous, ond after tho first alarm, whem it became generally known that this bsnk was paying ull dermands, largo oz smuull, #n tho coveted currency, the rush continued, DBut whilo many came fto with- draw, there camo many to mako deposits, and theso innocontly warring parties, with oxe cited spectators of thio busy murt, crowded the bauk olfica aud oxchauygo room, It soon beeatad necessary fo0 call in tho aid of tho polico to disperse thoso pres- ent who had no actual business in tho baul, und when theso hind takon up positions on tho eidewalk tho ap- parunt rush and unduo exeltement i tho bank was over, From 10 until half-past 11 o'elock thero was a Ui of about a dozen applicants continually fling up lo tho counter, tho numbor of demandsnts end depositors continually contending for tho supromucy, Mr, J, 8, Rumsey, Preaident, and Mr, Bumith, Cosbier, wera smilingly sffablo and supremely confident durivg the Ume of tho “run,” and de- clared & hearty wolcomo to all who ad just domsnda on tho bank, Beforo noon the run was over, and the publio had becorne satisfled that tho Lank waa sound, sud prepared to et every obligntion, and from thla time until tho closo of tho bank, fter 6 o'clock {n tho ovening, (o deposits cxeocded tho amounts with- drawn, Dauring tho morning run, & THINUNE roporter con- yeraed withi Air, Rumsoy, who had n chicery coun- tonunca and a defermined” word of cheer aud resolus ton for overy vidtor, und whoso forciblo saliics, ex pressed with Chileago grit snd humor, wero not in- frequontly supportud by cofuciding expresslon from 1, ¥, llutehinson, ono of the prominent muvaging Di~ Tectors of the Bank, e, Runsoy regarded all this clamor and contuston, and panio aa nltogethor unncoessuty and sonsolcus Ohieigo, Lio snid, hud a golden liarvest 1n hor elovae tors, worshousus, and depots, licr graln, provisions, sud other produco in storo wero s miuo of wealth, Blie hold thoso things which must command mony finmo- diatoly, She held tho koy that must upoodily unlock tho Bistorn vaults ; sho could commnnd the® flow of treamura fnto hier lup t0 bo doult out sgaiu for Lot un- fnterrupted growth in mutorlal greatucss, Mr, Rumeey wos quits oloquont and earnost in descautlvg upon Obleago's commanding posi- Hon, uni thonght now was tho time to prove to the world her resl strength snd glory, 1o sincorely doprucafod the action of those Lanks whicl bnd suspended, unneeessarlly us Lo declared, snd stoutly mnintuiniod that {hero wero banks fu_Clileugo unsged by men who had mudo their wealth in tho city and grown In prosperity with ity growth In wealth, who would sucrifico {helr last dollar to pre- sorve ‘untaraished tho honor und ropulation of the clty, and tho stuudiug of Lior financial institutions, OF fnch materinl, ho said, wero tho manngors and stuekholdors of the Corn Exclinugo, Reverting again fouore pructicat information, N, Tsoy sid thale cusls on bund in tho moruing’ whon the bauk oponed wud In excess of any sum they had bad for tho post two weoks. Defore bankiig honrs thoy bad recotved {0,000 in ourrency from the But, and informution thut moro was on (ho way to them, At noon, when tho run on tho bunk hnd subsidod, they found thut the amonnt of withdrawals bad excoeded * o smount of doposity by only £10,060, ad thoy wora 25,000 wirongey in_eurrency thun when the bank closud on the previous day, ‘At 8 o'clack in tho aftore noon adyieen wero received that moro tun $160,000 in cuirrency were on tho way from the Eost to the Corn Exchunge and ita Directors, nll of which would bo mudo wubjoct to tho neods of tho bauk, Ovor $100,000 of thut monoy 4 uxpected to arrivo by expross thiy morning. ‘Tho Corn Exchango kopt open untll dark At ovening, meetlug overy denund, and ita oflicers locture that ““ln tha bright loxion Fesoryed for Chicue g0 there's no sueh word ow full, Tho Flrst Natlonal, At tho First Nutlonab ik tho businons was quistly conducted, us during tho past weck, Mr, L, J, Gago, tho courtoous Cashler, was scrono, and disputehing buslncss with an uncutiled temper, To tho ublquitous 3UNE Fopartor, Mr, Guge sufd Lio saw 1o moro real occuson for alarm or paulo than bad Leon safely bridged over durlug tho wek, und, indeed, the bridge 80 bravely buflt lind crossed thom over to the land of promiso, 'Tho temporary suspension of tho bauka in i city ho counddored H-udvisud, and tho offoct had doybtles bovn duinaiing, bub not dissstrous, ‘Tho action taken by tho * suspenders ” would not fork otlior banks off *solld footing, aud Ghicago busi« ness would bo malntained by tho solldlty of hon inntitations, Tho Firat National waa propared to moot all obligations, but, of courac, would uso o discriminn. tan conductvo to atrongth fn tho disposition of it favors, Thioro had been o run. attomplod on tho ank, nud they susw o rond Jeading out of the woods moro cloarly now than on suy day durlug tho paat woclk, 1o sald that o very considorablo quantity of cur- rency lind beon resolved in the ety during tho days aud hundrods of thowands of dollors woro now on routo bilher for the roliof of ho buuks and the pur- clinno of supplles, 1o had, during tho day, been per- sonally cognizant of tho rocelptn of considerablo sums for tho purchuse of mupplics, and kuow of ninny other ordera for purchancs, accompaniod with tho informoe tiou that tho eurrency for paymont ind been shippod Ly oxpross, Io had no doubt that in twonty-four Liours tho eirrency rocolpts n this city would closoly approxi:unto $300,060, Tho Third Nntionnl, Tho Third Natlonnl Bk, located in tho Portland Dlock, ot the cornor of Doarborn and Washington streots, rocclyed attentions from ita doposliors during tha sftornoon tlnt cnmo uncomfortally noar smount= iug tos " run” Mr, J, Irving Penrco, tho Prosidont, was _bosleged with nnxious inquirers, all of whom wanted fo know oxactly how evorything etood, and whethor tho institution would be ablo to * weather tho storm.” Tho thormomoter did not indicato vory iutenso leat, but tho great boads of porsplration thot rolled from tho brow of tho Dauk Presidont denoted that either sometbing was wrong with tho meroury, or bis montal condition wus approaching faver heat. Notwithstaud ing thle, howover, ho Atood up bravely, conversed freoly, und expresscd bimpolf not only hopofully, but coutidently, Dotweon 3 and 3 o'elock the check-lolders nud §dlors Incroased fn numbor, moking whnt would bo considered & highly-succosaful wardemeoling iu times of political oxoltoment, Mr, Parsons, tho Coslier, manifested strong nervous symytoms, ond finolly olundoned his desk mud oo o posttion 1 tho door, whora Lo cauld uko obsorva. tious ; intarview thoso who sought admittanco, nnd allay "sny pomsiblo oxcitoment that might nrisa. Bliorily aftor 8 o'olock the crowd u front of tho banic Bumbured about 8 bundred porsons, praciyaly fioss who lind 1o business with tho bauk, and had collected for tho purposo of gratifying n curioity that woa idlo, but not altogother reprelionaible, under {lio peculint clrcumstances. Tho Third was looked upon us o solld inatitution, and many felt curtous to witnosa tho offoct ,4run " kould javo upon its olcors and, periaps, il resources, Mr. Tursons becamo somowhat abnoyed at - tho impudonco of tho tarin nilioring, snd, dn_ Ia blsudest manner, requoat flogo who ind” 0 busiucss with (ho bank_to * miov on Tho roquest was mado in such o gontlemanly, inofTensivo Wy, that thero woro nono who hud the Iinrdilood to romnin, and the walk waa cloarcd in less timo than it requirch to rolato tho fact, A THIDUNE roparter took ndvantagoof tho lull that follawed to mount tho stono_atops and nsls M, Parsons what b thought of tho eltuntion. Tho gentloman may or muy not favo told ol o' thougit, but ko, convernat quite freoly, and ecomed tiliing to impart wiy inforniation that ho might bnve. Ho did not conulder that & run waa in progrens, nlthough acknowladging that it looked that wuy, * Wo aro puys ing small chocks,” ho sald, # but largo oncs aro nob hotored excapt o thoso whom wo know o ba In neod of money for legitimnto business purposcs, Tho country buuks oro sonding in thel drafta by expressy and many of theso are presouted by thelr agents In tho clty, w0 pretend that they nro in great distress for ‘money with wbich o buy grain, and nonscuse of that kind, Thoso meu put on pitiful faces, sud enivl ng though thoir hearta woro breaking, for the purposo of decolving us, ond inducing usto pay thom monoy that would instanily bo forwarded o other bunks, = Wo can’t sland that, and won't, If wo cash the moderato ordors of our cily depositors, wa conslder that wo aro doing our wholo duty.” ‘As, M. Parsona kopt consulting hia watch ot short tntervals, Tz TRIDUNE roporter ventured o inquire if he Intéuded to keop Lo bank open, as usual, untll 4 o'clock, Tho Casbler roplied: “I don't know, but T think wo shall, Wo havo sottled our Cloaring-Houss Dalances, aud, if wo aro going down, we may na wll diogsme.” This couragoous remntk eliclted a lough from the bank ~oficial, -but thero was niot much merriment in tho amilo aftor all, snd ho turned to consult with & gontloman who had's chck for $2,000 that * Billy" Bmith, ot the tellor's window, Diad Téfused very prompily and very docidedly to caali, Thio crowd dwindlod to small proportions Loforo tho hour for closing arrived, and all who presonted smull chiocka up to thnt timé wont way autiafied that tho Third Natfonal was all right, as it undoubtodly {s. Tho Caslfor atates that o fow doposlis woro mado diiring tho day, but that noarly oll who visited the bank cama for tho' purposo of earrylug away currenoy, and not ‘placing it in thelr strong Vaults for safoty. The Marine Bk was ostensibly doing businas, though Tittlo or no mouoy was paid out. Tho doors wera open, but tho vaulta weronot, In a fow casca of distress small anins woro pald, but drafts weronot honored to the ful amount. Persons inquired nsto the stabilty of the n- stitution, and its Prosidont, Mr, Jonathou Young Scamumon, assurod them in tho blandest toncs that 1l Suviugs Department was 8 firm s tho Rock of Gib- raltar, and that it waa the asfest aavinga bank in the world, Ho read for the edification of deposttors as they went in, a 1at of stockholders, and to give them oxtra comfort, stated tlat be bold & largo mmnount of tock himsclf, Thoy went awny scemingly satlefed, In tho commorcisl dopartmont thero was nothing done, Mr. Scammon vented his opinion on tho genral situation with perfoct froedom, ' o sald everybody was broke, and flicro conld bo no rolief 11 Congross assembléd aud ropoaled tho prossnt Bank- ing_luw snd the Bankruptact. Tuero shonid be froe bunking, Thero could bo 1o remedy without deatroy- fug everybody, oxcopt o temporary regort {o irredeoti- ablo paper credit, That wat dono in Englnd two or thrco timea within tho lust thirty years, and it was resorted to in Now York i 1857, in 184, sud mow, Ho belloved thio ddvico of Mr. piuk to fssuo 43,000,000 worth of Clearing-Louso certiflcntos was tho best 'advico_given, und it would hinve had tho effect o allay tho™panic, would huvo given tho country relfef, and have bridged over tho timo until Congresamet, 'Unler present cir- Curmatancos thoro would bo o desi-lock witll Congress nssombled, Tho Orst timo ho met Mr. McOulloch, nfter Lo wis appoluted Bocretary of ko Treasury, ho urged upou Lim tho neccasity of a freo banking. law, Thiat was tho only way fo spiecic payment, Mr, Seane mon thought, Now oversbody, including tho Goy- crnment, was hanging on o whitover curreticy” thoy could got Liold of, and henco tho carelty of tho ar- ticlo, The Merchnntw’ Lonn & Trust Company pald all domands sud will continue to do so. During thedsy tho Hon, Joun Wentworth walked into tho Trosident’s oflice, aud inquired If thla bauk was pay- ingits checks, Mr, Bol Bmith smilingly snswered thiat it was, and intonded keeping on paying, Theu Mr, Wentworth drew from Lfs broechos pocket packot whieh hothrow down beforotho Prestdont, saying, + Thore's $176,000 worth of Goverument bonds which this bonk can Bave,” Mr, 6, II Hadduck and other stockhofders followed ault, dopositing Letweon $300,000 and $400,000 worth of bonds. usinss pro- ceoded o8 usual, and all demsads woro promply honored, Tho Unfon National gave nolico that all colloctions in thelr Lipuds maturing fn the noxt fow duys, and all_romittances recelved, would bo turnod over o the Loan & Trust Compuny, and Fleld & Lojter gave notico to holdors of thelr chocks to ro- turn them or presont them to th Truat Company, Other Nntlonnls. Tho Gorman National did business all sy, and ita Prosident, Mr, Heury Groonobauim, announced Lfs lo- teution of continulng businss us ususl,, He had no nolion of closing doors, No one could close bis doors; they would have to march scross his dead body firat, They had paid oll tho chocks of thelr country do- positors, snd would contiuuo to do o, Thers was & large numbor of callors at the counter during tho day, aud coustdorablo cash was dlsbursed, TIE DANK OF MONTHRAL wan calm, Thoro was o rumor round fown that £5,000,000 In apeclo lind boon roceivod from Montreal, Lut it wan not truo. Tho local mauager, Me, Richard. son, sald thoy wers meoting all domands, and, of courae, would continuo fo do o, o liad nothing po- clal to romark about tho genural situution, THE FOUNTH NATIONAL 1o not suspended, though tho Kvening Past, with its usuul fnaccurncy of statement, included 1t in its st of susponsions,’ Business was’ dono throughiont. the day, aud ot 8 0% 2uck tho bank wus ull right, TUR OITY NATIONAL ot open all day, uid (uoro was no foundation for he report ciroulatod in tho afternoon to tho offect that it had closed, THE MIDENNIAN DANI tranaacted businass in its suvings snd general dopart- Tuonta, Thoro was no run, sud tho olliclsls worg sor rono and choorful, At tho' FIDELITY ‘mattors woro quict, not to eny dull, Thero was no ox- cltomont or apparaist uncasiess, o German Bankers, Georgo Sehnolder, Esq., Prosident of the Tilinols Nutlonal Bank, being interviewed by a TRinune ro- porter, stated thut bia bank f8 paying all domands in full, - Tho demand was vory light, not moro monoy bo- ing drawn than on sny other ordinery day, In his opinfon, it was the duty of tho busincss community to Tally rouud tho bauks still open and sustain thom, so thut tho business of the city would continuo to be care riod on, Bhould all tho bauke fn the city bo compollod to suspend paymeut, all manufacturing catablishments wonld bave to closo, and busincas would almost coma toa stand still, ‘This would throw thousands of poo- plo out of omployment, and entall wpon thom untold miscry and hardalips, they not even buing ablo to draw out thelr kard-earned savings, Such a culam- ity should snd could bo provonted by our business cammunity if thoy kept their heads cool and remained calin, Thora was no reawon for siich oxcitemont, and with ‘proper munagement we would wouthor tho storm 0 o fow duyi AT, TARABUS SILVERMAN, Ono of our leading German bankers, fn an interviow With & ¥oporier, slitod thut_ his bank T paylng in full all domunds, and that he would continue to do 80, Lo Naving; enough cnrroncy fn hiw vaulls fo moot wi calls,’ Mr, Sllverman didl not Hko to oxpress his opinfon in roguid to the effect of tho punio on othor bunks, Ho wan in tho Danking bushioss during tho punica of '54, '81, aud %01 and weathored thoso storms succensfully, paying 100 conts ou thodollar, ~ At tioso pantcs peoplo Wareutrld of currenoy, aml drow it fram ouo bank to put it into nuotior, Kaw thibs ure eutiroly different ; veopla havo too much confidenco in curzouey, and taks it from tho banke, withdrawing It from clrculation, and lock- ing it up fn privato voulls, This elrcumatinco makos {uls pauio sovoror and moro dangorous than any e ‘vious pane wo hiove had, Thoro waa no causo for thin panic, aa Uioro was novor boforoso much curroncy i clrouintlon, uor was tho country over moro proaperous than at prosont, " Tho notlon of Lankora and tho son- antional roport of tho Témies, were, I Lia opinion, ro- sponaiblo for tho oxcifed’ feollng in Sunnclal circloa yeatordny. Am, OMATILES KOZMINAR, of thio banking firm of Foluouthal & Kuzminak, stnted thut thole bank was going on as iaual, Thoy lind not iusigg thus fax o wnglo ciesk, and (ioy daut ntend to, Mr, Kozmtnaki 1s of tho optnion”thut evon the mispended banke will reautno gguin 1 & fow days, and that no ono will losa n cont, although it may putn great many to considerablo ficonvenionco, Nowo of ot hankia have epcculuted, and tholr sconrities nro na good ag_ovor, but thoro'{a no markot for them at Jredont, and thoy not belng willing to sacriflco them at tho oxponso of tholr credltors, thero wa to alternne tivo loft for them bt to euaponl until such timo s thoy could realizo on thiolr accurltics, 3N, GODFRKY ANYDAGKER, 8 prominent Gerinan banker, was also interviowod. 15 aatd that lio Liad pafd nlf dotmanda fu full, and will contiuuo lodoso. Tho panic, in Mr, Bnydacker'a opinfon, 1a thio roault of tho nciiuntion of Amoricana for spoculation and notoriely, Tha poople of (o Exat, particulntly, havo suok an_unnatural wish for woalll that thoy will resort to almoat any mennn to onbianco thio vaftio of tholr posscastons, ovon If (loy already count thoir wealth by millions,’ Tho buhblo hiad to'burst, and Joy Cooko & Co, sud Tienry Glows & Co. fell tho vielima of ' {ils ununtural epeaulation, Tho prescut ambarrasamont hna spread Lrom tlio Bint Lo o Weat but o wap porfaly coutl- dent that thio cura of tho diseaso would go in_tho cone trary dircction, and spread from tho Weat to tho Eaat, ‘Tho Weat, wilh its products, which wero nceded fn tho East and [n Burope, would holptho Auancial world out of thia dilemtna, ‘Tho_curroncy which goes to tha farmers to pay for tho prodico, would go from them to tho country morcliant, from (ho country morchunt to tho elty mercliunt, and from tho clty merchant to our ‘bunkers, who would agatt sond 1t bick (o tho Eant, 1f & fow roltun concerns sliould Lo awopt avay Uy’ thls Sunuclal storm, tho country would be 80 much tho bottor off withobt them, Tho Board of Trado Dircctorn hold n meeting 1o tho morning to conidor what sliouid bo done, At moon tho Presidont eallod tho meoting to order, aud Mr, Becrolary Randolph 8poko as followa ¢ Tho Dircetors havo mot togottier this morning for tho purposo of consldoring the prosent emergoticy, which o to-day osauincd & now pliosc, and (0 con- sidor what 18 {o bo dono niow, After coustdering tho Tuatior ovor for aomo tine, thoy conciude thattho thing to be donio 14 to afop the ojition trading, which hus boon tsed for the purposo of broaking down valucs to o ut far bolow whint every individunl business man in lts Stato knows it to bo worth, Now to goat it and roform this, thoy do not bollove it i good policy o clowo tho doors of f(ho Doard of Trode, and ot ft go forlh that Chicago 18 “husfod,” [Loud applouec,) There aro positivo nd- ‘vices that ourroucy, bank Lilis, aud Treasury uotes aro on tho way hore, aiid 1t will not bo more than day or tafo bafars thay aro boro, und they willbo for o pur Posoof buylng and paying for thls property, so tiat Wo can hinve & contro whero values can Lo csfablisliod, and not for business to bo dono on tho streot-cornors, ‘whero valuea would bo doprocinted, It fimt roquires 8 two-thirda voto to suspend tho rulos, and then n two- tllrda vola to pase tho resolution which I will now read : “* Thntall rulos of this Bourd authoriziog tho Toard of Directors to considor andact on complaints for vio- Intion of contract bo guspended, 60 far us Buch complaints _aro based on contracts for tho dulivory of property n future mado bo- tween tho passago of this rosolution nnd the further order of the associntion 3 nnd further, that the Toard shall notentortain complainta for the'violation of contracta claimed to have been closed during tho timo above indicated by renson of a non-dopositof a margin; provided, tlat this resolution phull in no case bohold 'toupply fo any trados made in sottlement of oxisting contracts,” A member moved that the rules Lo suspended, The question was put and unanimously prevalled, Then thoro was s tremendous chieer and every ouo folt bete tor. Mr. Gharles E, Oulver, Prealdent of the Board of ‘Trade, sald bo Lad groat confidenco now in tho abillty of Qlicugo, by the resolution and courago of hor business mon, to weatlior the storm nud bring up in port of safaty. The proposition to adjourn tho Board of Trade, which had beon so overwhelmingly dofeated, ho rogarded 18 unworthy: the charactor of Chicago's 8ons, and ono most untimely and {ll-advised, Tho greatest dangor was now past, and thoso who held their hends above water and buffeted the waves of this woeok would rest in currents calm by Monday, Ho porsonally Xknow of the ° receipts of thoussnds of dollars of currency during the day, sont forward for the purchass of mneeder suppliea in Chicago granaries and storchouscs, and of orders additioual for heavy purchases, with the mes- Ango that curroncy hud been expressed for payment, Before Sunday, bo Lad no doubt . there would be re- celvod from the Eust for the sid of banksaud from oll parts of tho country for the purchase of grain and provisions mioro thun $1,000,000 in currency, In }xla opinion, Chicago held the i(ny of her sccurity in lier own hands, aud need only to proclaim hor strength with resolution and cournge, sud maintain forbear- Bo amiong Lor own peowi, to emarge succomfully from the cloud of doubt,aud add to ber extended famo by tho oxhibition of hor riches fu roservo und the solidity of her pretensions, A Million o Day. ‘Tho roceipts of currency by oxpress sinco Thuraday night, the 25h, foot np a1 aggrogato of nearly 31,000, 000, In round numters, tho receipts by tho soveral companies sy bo fairly approximated as foilows ¢ Ameriean, $100,000; Unitod States, $350,000; Adaws, £200,000, Excluding Thursday night's rocelpts, and counting only packages received yesterday (Friday), fhe sum was nearly §300,000. In addition to this amount fustances ure known to Tue TRIBUNE roport- era whero sturdy, carcful, self-judging distillers, and brewers, and provision-dealors, have como persoually to this market for grain oud provisious, with sums verying from §10000 to $40,000 cach mctuslly on their persons, to \tako advantago of falllu prices, and purchiano ‘from Ghicaga's plethorio storas, The aggregate of known instances of this kind 1 in the umiediate nejghbor- hood of $125,000, “The smount expected by the banks aud by commis- ston dealers to-doy, of which they Luva ndslces that tio currency has beot shipped, is not short of three-fonrtbs of a wililon of dollare. No monoy was Tecolved yose terday at tho Government wnl-treanmry, Lfteet on Frelghts. Tho effect of tho gouoral suspension upon the ral- roada was fmmedinte, It hud bitherto been customary among them to tako cortified elicoky fu payment for freights, and tho systom prevadled until yesterday morning, The Chicago, Burlington & Quincy Rall- roud, on learning of tho suspension of tho Union National and other banks early yestorday morning, {me ‘mediatoly refused to nceopt chocks of auy description, demanding currsncy. Tho Tllinola Contrul Railrond followed nost, and in only omo or fyo Instances sccapted anything but currency, Atnoon tho Michi. gan Central followod suit, and tho other roads genor— afly fell futo lino, This was » calamity which bad not Deenlooked for, and added not a Hitlo to tho existing complications, It was sunounced at tho Burlinglon & Quinoy offico that stock was sllll coming in shipped through to Boston and New York, ; Mr, Bargent, of tho Michigan Ceutral Ratiroad, statod thint ho liad callod upon all othier Unes huving business in this city to arrango s systom of oxchango of duc-bills, and establish’ o sort of clearing-hougo aniong tho roads, Tho Byh~ fom had” been _occaslonally uwsed fn iho general run of businoss, and would bo of great advan. tgo during tho presont’ emorgency. ~ Mr, Sargent sald money wai coming In from tho East from purchuscrs, 2 woll as bolng brought in by individunlss but the amounts were 80 insignificant in proportion Lo tho neods 84 not to occaston much relicf, Very littlo If any froight has boon shipped from {ho clty within tho past two duys, fhongl It fs coming in continually in small quanti{ios from the country, Tho City Finnuces, A ToinuNe reporter yostorday callod npon tha ity Troasurer, Mr, David A, Gogo, and interviewed him on the subject of tho coudition of tho city Anances ut the presont momont, Mr. Gage was seatod on & ros. trum In an ante-room, watching Intently the motiona of a diminutive durkey, who was nitacking Lis boots with brush and blacking, and bringing out a polish worthy of tho Graud Paciflo podifulgent dopartmont, Tha roportor commenced Lis mlssiou sa follows : Teportor—I am sent, Mr, Gogo, to fnd out, what offcat tho prosent stato of affalrs haa upon tho elty finances which aro placod under your chargo, 2r. Gago—Tho city suffers inconvoniouco (he samo a8 any buslnoss man who trausacts bueincsa through tho medium of o bauk, Toporter—In what bank ara tho city funds de- posited? Mr, Gago—Tho city funds, nmounting to botwoen $700,000 and $800,000, aro scattored smong thirteon dif- foront baukors in this city, Tho doposits aro in all inetancea amply socurod by good bonds, and ‘must bo cons!dered ns safo, Teportor—With rogard to city Improvemonts that are bolng carried on—1 supposo thoy will, of necesslty, bo suspendod 7 MM, Gago—Thera ara no ity mprovements golng on which ure of vital nocossity, Tho fifty or sixty thou~ sand dollars 8 mouth paid out_for streot clouning will Hiava to bo stopped, but. thnt will entuil uo_ grout hards ship upon tho citizons, Thoro I8 o cloncoof cholora comlug, soma_ dunger can o anticipated from thst source, ' Jepartor—0ity tmurovementa will o stopped, (hen? Alr, Gage—Gortainly, If tho clty cunnot gob monvy from tho banks to pay tho contraclors, tho work cune nat go on, There wil” bo no troublo, though, with ro- i to sy fmprovemonta, Yieporter~What aru th buuka which hold city do- Posite Me, ngo—Thero aro o ommorclal, Third Na- tloual, Unfon Nutfonal, Fourth Natlona)) tate Sav- ings, Cook County, Mechunies' National, Union Blook Yutds, Hiberulun, Second Notionul, Munufucturrs’ and Budgor, Roporler—What do you do in tho way of making paymontsy Ir. Gage—We pay them oll fu ohiocks, Anybody Wl huu & elalin ou (he city can got n cicek, Hoporter—~Do you think the local panio wis hustonod by any publication by tho pross? Ar. Gugo—T thiuk the Z%mes urticlo had a vory bad olfuct, "L tirlghtoned poople sud burrled o tho crisla, . Ntoportor—What do you think of the futurs, a8 o~ gardu the clty Aunneos 7 Mr. Gago— can't ol §f lightntug In golng to coma out of u cleur sky, bub I can say this, thiat tho cily i T conld placo thom, spoaking as :";fi?-:’f;u?: e 1 eart et o g 28 i oporior subscquontly eallod upon Mr, Burloy, City Gomptrollor, but that gentloman, who indoraed overything Mr, Gago had sali, Lad nothing how to say on tho subjoct. Yost-OMMco Money Ordors, Mr, O, 8, Bquirca, Assistant Postmaster, wna {nler~ Viowod fn regard fo o rumor which provailed on tho slreot thnt tho Post-Lilico had a doposit of $12,000 in tho Gook County National Donk, and that tho cursoncy wan noaded to pny out on monoy orders, buk that thoy could not draw it on account of tho susponsion of that tnatitution, Mr, Bquires stated thnt they had somo mouey in tho Cook County Natfonal Banks, and that Gon, MoArthur, tho Poatmaster, would go and seo abiout it na noon ne lio got through with n conaultation 1o wan Just having with Sonntor Logan, Mr, Squires nlso ataled that thoy hod all tho attrconoy thoy nooiod to poy out on mouey-ordors, aud that thero was no probublity of any troublo o that scoro, That on tho Toturn of Gon, McArthur Lo would o ablo to givo miore Informatfon, A ropurter calling agaln in tlio eveuing, found Gon, MoArtlnr, the Poatmnstors Mr, Bquircs, tho Asslatant, and Mr, N, R, iawloy, tho Byecial Agent, cloasted {n the Porimaster’s room, Thoy romuined n counultation for over an hour, and thah sont word floy hiad no moro information to finpart, How o Run Is Ntarted. Tho way & ruu 18 got up §a sometling Nk this® John, golug along a atreot, ovortakes n bank, and, huy- Ing 1o monoy thoro or anywliero olso, ftnmodintoly bio- gius to wonder 1€ that institution will boablo to pay it dopoitors, of which Lols not ono, Whilo thus cogitating Lo gazea into tho windows, and thon Bill comoa nlong,~Bill bolug on impecunious dovil lko Joln,—and Bill begins to staro as If thore waa n menng- orlo dnside, tho conutor being tho cago, and the clerka tho wild beants, Tom henves i slght, aud secing Jolin and Bifl with tholr oyes fixed on tho bauk, and bolng on {mitaltve animal, ho relnforces thom with ki op- ties, It now nbout timo Olinrlio camo along, snd along comea Oliarlio, Now, Clinrilo's great grandfathior wasn mon of wealtli, Lut bis dogenorato desccudanta squane dored i, and Charllo s’ worth n continontal. Ghinrlle, Lowovor, fools in duty bound to meditato on the vanity of riches ; how thoy tako tho wings of tho morning or of tho nftarnoon, 081t happeus, and fly away, loaviug him without money in that bank, Joln, and Bill, and Tom, and Charlioaro now gathered at tho cornor staring ot that bank with tho concontrated power of o Lundred thousand microsoopes, Thoy wink and ehako thelr heads, ond wonder what tho world s coming to, mm if it made tho lenst difforonco to them, finan- cially, if it camo to on ecnd ot 430 tho samo afternoon, Nevertholess, thoy exerclso tho inaliena- blg right of American eltizens without regard to race, color, or proyious condition of servitude, 1o stand on & sidownlk nnd look at o bank, Thoy stand and look, and, while thoy are standing andyteoking, Peter looms up on tho horlzon, Poter 1 thireo blocks hwoy, but ho ncea crowd In front of hia bank, sud wouders what ou earth can the matter be. Quickening his, pace ho arrives in tho vicinity of Charlie, aud Tom, and Bill, and John, just as Tom i obsorving to BII that tho in® stitution fs shaky, and Oharllc and Tom agroo, tho lattor clinching hia obrorvations by saying that mone) 18 8afo mowhero unloss sewed {n the lining of a mau's vest or in the folds of s wife's petticoat. Simplo Peter begine to feel likenn cartliquako, 1iis hoart bumps up agiusthis opiglotils, ho trembles in bix shoc-leather, tho cireulation of his systom ia mowontarily suspendod, aiid ko is as lmp 48 wot rag, As goon s ho regains control of his mind and his legs, o dircets tho former to propel tho latter up tho stops, and the first thing Poter knows ho s writlng a check, presenting it, ond gotting hia money, Luving his monoy, ko man witha baby, o doesn’t know what to do with it, If ho takes tho lucro homo tho louse may burn, tho houss may not bo insured, ud oven 1¢ 1t wero It might niot do him any good.' o wnlka In tho direction of anotlicr bank, and thero inds nnothor set of Jolug, Bills, Toms, ud_Charlica predicting cternnl amush, Ho' moota’ bia frieud Ned, and fells Nod whint o hins douo, and Nad 1s off ko streak of reased lighting to 'follow bis foolish example, for right {5 infoctious, Nod meols anotber, aud #o it go0s until thero ia a firat~clasa run on the bonk, Potor, uud Ned, ond other weak-mindod follows tako thol monoy home, if thoy do mot get robbod on tho “woy, and feol 08 if they lud mn clophont ' fn tho houss. They ~and tholr wives stand guard over b all night, taking turna of two Loura each, snd in tho moruing ttoy complain of boing weary sud, eleapy, and slimost wiah thoy Liad 0 Uitlo money on_their minds o tho Jucks and Billa snd Toms and Charlies who cony gatod near tho bank and started s ponio in which thoy ‘Wore 1ot interestod, Tho Bank OMmcers. Thero a ono thing in councction with the crists which desorves moro thau a pursiug notics, and which ought to call forth commiscration aud sympathy for tho officers of our banks, snd that s the mental atratu which thoy havo undergono einco tho begine uiug of tho troublo. As o rule, bankers oro amongst {hd most austors and apathetle of man. Their buslness, whether tho funds thoy control aro tholr own proverty or morely trust placed fu thelr hands, domands a contant oxerclso of n number of mental quolifioations, Thoy must bo mpariial, snust declino a friond's commeretal paper, o discount au ouemy’s noto without regard to porsonal fecllug, witliout hieeding any consideration outsido of tho ques- tion of tho presont’ profit and ultimato safety of the transaction, ‘The naturo of thoir business at all times calls for {ho oxerelso of tho utmost prudonce, tho most delleato tact, an unsworving firmnoss, and withal an over presont auavity of manncr, It ia only, compara- tively speaking, withiu a few yoara that what used to ho called tho “ocoult scionco of banking” has liad o fit. orature of ita own, Sinco the publication of sovaral oxhaustive works on tho subjoet, however, the manner in which tho gentlemen who control tho money-biga conduct thelr busincss, n becomo Letter known, Bunk mnagemont hns, o8 will bo seen by o roferonco to uny of thess worke, becn reduced, n all its branchics, to o system and tho great wuccessful bauker 18 tho may who, Jossessiug uutiiral fuanclal abilily, has had the advuntago of s trafuing from youtls up in a well-mun. aged bauldng iustituilon, o mst o ncquinted Wwith tho rules which govorn_thie fiuctuations of tho moncy murket and must conduct bin oporations ac cordingly ; o is guided by roforenco to books kopt by employos {n all transactlons with customera 3 ho must wateh tho various markets with o closo’ oyo, und ina day do an wmount of brafu-work wiich would lrdly bo belluved by iy ong who fudgod bis abor by {ho scemingly easy way In which it 15 accomplished, “Tho conductitig of » bauk on o solid foundation, Witk o good rn of business and o capablo staff of oflicers calis from tho mannger {he constant exerciso of ull thoso fuculties, oven in tho mont prosperous timos ; for without their oxerclso disaster may como with crauli at any moment, But thero nro timea when tho most_oxtraordinury ‘fingucial sklll, the oxtremest caution caunot avert trouble, 'Tinancial crisca havo ocourred before sud will ogeln reour of Hmes when thoy havo boon - tho least uxpected, and from cuvses which, belng unforo- acen, lisvo not been guarded ngaihiat, Much ua in known of tha aclonco of banking, thoro fa still much sebieh will remain oconlt unti the force of unfortunate clroumstances converta 1t infoa dearly bought oxe periuuce, Thus ot the presont momont tho conatry 1 sutforlug from tho orror of judgment of a great banker who, u nionth since, wus_considered ouo of tho best autliorities on buukiug matters in tho world, Tho bnakers f Qblcao Luvo alays boon iotod oa Fosaose ing u u bigh degreo tho ruquisito qualification of sblo fuunclors, aud the universal succeus of thoir {nstitu. tong, and tho trado which thoy foster, aro evidéucea of tho succoss of thelr manugement! Tha troublo which i at proseut upou thom s ‘uot of ticir doing, aud uothing which they can do can dimiutsh it, “Tho rules they ganerally work by aro of no avail now, They aro s Lolpless In tho inidst of tho oxeitcmont ns & shophiord whoao flock hua been suartlod by tho sude den apposrunco of an enemy, aud yot everyono who b suything to do with o bullk, especlally tho small depsoltors, looks to its mausger for tho performunco of & miracl’ by which tho troublo may bo suddonly ayerted, snd tho wnanagor, reudured lelploss by clr- 0 cumstanees which lad mo power to foroseo or provent, casts about {n vain for 8 romedy, " His posltion 14 very painful ona, - Condelous that the utmost calmucss 4 tho only thing that cun_quict the throbbiug, foverish, publio pulsg, Lio s forced to seo his customors excited' Ly the publication of mendacious, monomaniacal accounts of ovents which never ocenrrod, which seud dopositor upon depositor draining his coffors, untll there 18 but ouo rolfef at hand, a rolfef that almost breaks evenn banker's stony Lieart to uvall himsolf of, that of tem- porsry suwpousion, o ordinary 'public, whoso nowledgo of bankors and Lonking s 'Lmited, can form o idoa of tho mental strain whicl Lus taxed tho nerves of our bunkors sinco tho begiuning of the trouble, Tho suddenncss of tho stroke, Its srrival In tho millst of n weason of nlmowt unexsmpled prosperity, tho fuct that, despite all their owi oxortions, past and prosout, the fato of thelr own bank, depended npon that of others far distant, plunged our bankers last week futo o montal turmofl whicl liza not sinco abated, It wero bard to appro- ciuta tho oxtrome anxioty with which thoy hae, for o week, watched the tolographio aunouncewouts from tho 'Eust, and studlod tho vurloua plinses of tho oxcitement. Tho rupid altornations of liope_nud foar, tho quicting fu othors of {ho mlarm which thoy themsolves fult, the sudden shultlug down on fmportunats customers, the gatlant strugglo againet impendiug susponslou Lavo told Lieavily ou o bank- ers, many of whom aro ehowing nlahl{y tho offect of the'montal ovorstrain, And yob 1t i ot ended, As far us can Lo econ, the und 18 as far oif us ever, and {heee unfortunste men ought, whother they woather tho storm or not, ta bayo tho Iwm¥ aympatliy of uil thelr follow cilizus Iu & misfortuna for whicl, though thoy wuffer from it wo severoly, thoy are not ju tho Teast accountablo, —_— ELSEWHERL, NEW YORK, Apecial Disputch lo The Chicayo Tridune, A BUMMALY OF THE BITUATION, New Yous, Sopt, 26,—Uncortatuty, ot oxcltemont, ogain cliuructerlzod tho day fn Wall btraot, Tho fools fug fu flnunelol elrolos wad 1nuch tho samons on Thuruduy, oxoupt I the Gold Koo, whoro o Qurry was occasloned by an_ advanco in gold from 11} to 14435, Tt fa allogod that this advance was caused fn part by tho manipulations of eliqua of oporators, largely comprised of Usnadiun capitalists, sud. fn pard by the doprociation fn cortitiod cliocks, OREENBAOKS COMMANDING A PREMTUM, over cortiflod cheoks of from i to & por cont, Advan- tago wan also takon, by thoso liaylug money to lund, (o exict from K@) por ceut por day for carrylug, (101D LoAN, Tho larys shipments of yold from London horo, by thoso futeronted fu the sbipmont of grafu, was largely divoussod tu fnancial aud commeralal cledlos, It Wi bolfoved that 1t would hnvo the affect of materially ro- lloving the market, more especinlly na it was bolioved that this waa L’ ho beyiuning for largo flow of gold hero in oxchango for broadstufra, potroloum, snd othier products, ~"Thore nro now in Atora at Inke and Aonbionrd porte, in transitu, 140,000 bushiota of grain snd of thin amonnt 120,000 Luslicls are Atored in this city and Brooklyn nwaiting shipmont, Tho difioully of mogotiating forolgn oxclinngo lins tito offcct of PHEVENTING THE FORWANDING of any conskderablo portion of this storo of grain to forclgn markots, whero n_good demand cxiste for it at romunoratfvo prices, Drokors aro loaded with . oxporters’ bills,—intrinklcally good, Y- cass thoy repreeont on aeticlo’ thiat can o cxchanged for coin nA Aoon an §t renchios Erope,—hut, for want of funds thoy can da lmlhlufl. To break thin dead-lock, the importe. tion of gold from abrond, or the relousa of ctirrency, aro tho only remedios, During tho intorval that musl clapso beforo gold rénches hero, it fa Lolloved that alipmonts of gealn will Lo fn gaodt part suspondod, RN, HLLHOUAY: AKNOUNORD, at 8p, m, to-duy, thal ho had_recelved no further in- structions from” Wasbington with regard to_tho pnr- chingo of bonds, Tt 18 not. bolloved that furthor rolief can bo Jooked for in thi diroctlon, ‘TIIE. OOMMITTER OF THE RTOOK PXOIANGR appotutod to doviss menicos for tho clerances of brokors durlng tho fow deys immaalatoly precoding tho cloeing of tho Btock Exchiange, reported to-ilay thiat it wad ndvisablo for morchinnia (o ottt tholr cone tracta nnd margius botweon themrolven au rapldly o possiblc, swithout recanrao to tio Cloaring-Itouso ; thnt filo” Block Exchingo bo,openod Tor o rermi. tion of business on Mondny moxti and thut tho solling out of mombors undor tho rule be not onforced unill noon of tho following dny. This was rojectad by tho Govorning Committos, and anothier plan was fually sgroed upon, which thg sub-commitco DEOLINED T0 MAXR PUDLIO, Tho Govorning Commiltco bave declded that tho Exchungo elisll not bo opened until twenty-four Lours' notico ahinll havo boon givon membors, Tho Loan Committeo of the Olearing-TTonan have imsued on additional $1,350,000 of loan cortilicatos, making an aggregato of $18,000,000 thua far Issucd, (70 the Assnclated Preas.] AN INPROVED VEELING, New Yonr, Sept. 20.—The gencral feeling in finan- cinl circles Las decidedly fmproved, Tho day’s record closes with somo confidonco fn iho bellef tuat the Dottom of the panfa hos heeitroached fn this city, nal thero {a o fafr prospact, that, whion tho Stock Exchangy opons, there will be lttle loft to arrango In the way of sottloionta botwoen brokers, so that thero will o 1o now fallurea to annouuco, Tho cards from bankiug Liougea also fuspire confidence, aud will bring some monoy into the atrect as an nasistance to gonoral busl- noss, which will oxpedito tho rearrangoment of fluancinl matters and sid in the prompt payment of old indobtedness when tho suspended louscs resume, INVESTIGATION OF THIE IANKA, Prosidont Vormilye, of tho Morclnnts Dank, ap- pointed & commitico of nine, to-day, to investigato the condition of tho banks, and suggest such practical re- forma na may bo dectmed nocessary, Tho nomos of tho ‘Committeo ato na follows : Georgo 8. Coe, President of the Amorfcan_Lxchango Dank; W, L. Jenkins, Tresidont of the Bank ofjAmerica; 4.M. Morrison, Prese ident of tho Manhattau Bank ; ‘Mowcs Taylor, Presl. dont of thio City Tlank ; Jolin G, Joncs, Preaidont of tho Ghemical Bank ; I, D, Tappen, Prosident of the Gallatin Natfonal Bank ; J, L, Everett, Cashier of the Broadway National Ban Robert Buck, Cashier of the Pacifio Bauk, and J, E, Williams, l’ruidonl of tho Metropolitan Baiik, LOAN ORRTIFIOATES, Tho Loan Committeo of the Clearing-Honso Las fs- sucd about $1,600,000 inloan certificates to-dny, mak- ing tho entiro amount fssued sbout $18,000,000, PAYING OF, Morcantilo papor fulling dto af tho baks i Leing poid with remarkable promptness, In one {natitution, ‘whero $1,600,000 wna due in Soptomber, over $1,400,000 had beon paid up to Thunduly. aftornoon without eveu asking an oxtenslon, In othor careful banks amto puper discountod tho roault fs tho samo, Tho buuk o ready to pay tirrency {o meot pay-rolls, salarios, fumily and business oxpensce, TUE GOLD MATIKET. Thero was an_extraordinary excltcment in tho gold market to-day, which ot ono timo threatened disnsirons Teaults, It appears that,since the anuouncemont that fold s been “shippad 'hither from Englund, doalera ero inve boen eolling gold *fo arrive,” in the samo way that cotfon, cors, and othor produce 1a sold “to arrivo” ' This procceding cre- ated an oxtonsivo short finterest In the market, and at 1 o'clock cash gold becamo o scarc that 3 per cent was pald for the use of gold, and at one timo l‘ror cont was Lid, Then camo nows that there would be troublo in clearing gold at tho Guld Exchango Bank, On fnquiry, it was found that two dealors woro bohindhand with their slatements, and did not care about paying s high loan rato for tho uso of coin with which to clear. 'The tempor of tho mar- ket at this time was such that, if o clearanco hod not been made, & new panio would have resulted. The of- ficoraiof thio Gold Bxchungo Bunk did thelr beal to ko cure 8 clearing, and Sually succecded ; then the ahorls began to cover, and, in tho confusion, the murket was vory much oxclied, ' Tho prico moved up to 1143, ngalnst 1112 at the oponing. PRODUCE PAILURE, Tho firat fallaro ot thoe Produce Exchango is re- rted, A very respoctablo, though not ouy of the urgost houses, whoso crodit’ has bitherto been first- class, Lias, it 1 said, been forced to suceumb in con- sequence of troublo in the export trade, Tho uame fs not given, NEWS FROM OitfoAGO. The nnnouncement of {hio suspouslon of four Chi- 130 binka crewted o temporary dopresolou, but press dispalclies’ rosssuring {u tono’soal Kestofed coutl cuce, THE PRODUCE THADE. Tho londing members of the Produce Fxchango woro Interviewed to-duy, with tho following Feault ¢ No vers bad offect bus yob oxtended fo tho flonr trade, and dealera huvo ‘overy contidenco that their business 48 to sutter 1o sorlous njury, Thoy aro run- ning slowly and carefully, aud are taling wiso procat- tion aguinst disaster, Fortunatly stocks nre smodorate for tho seaton, and rocoivery uro hot presi ing sules, Shippiug gradva bave declined 505 and fuinlly grades 25 on tho barrol, Tho heavest cous slynces buvo advised with tho loldora of drafts by Westorn purtics us o precantionary measure only, THE PIOVISION DEALERS, exprossed very aimllar viows, Tho shipplng move- menl wus checkod, and, uuleas tho block was slortly relioyed, there wobld b aacriicos, Tho only rollof i ino freor oxehungo, Tiero wos b emall business i Lurd on tho part of spoculators, In tho GENEUAL PACKING AND BUIPPING TRADE things avo tighteniug, but exchanges can yet bo sold at Bomo prico, Tho ftcling of tho gralu’ men fu ke wiso Teussuring. Thoro aro cronkers, of courss, and there are a fow who Lavo Dioro ronsons than othe c14 to uppreliend difiioulty, becunso thoy huve mors un thelr huuds then thoy can carry longs but common sentiment {s that, notwithstandinie thut; gralu has got to stand tho brubt of tho troublo i thy commorcial world, It s yot tho most solid and substuntlal {uter- est fu tho wholo country, Conglderably graiun was purcasod to-duy for stestiors ealllug (o-mortow. corroy. Thero waa considerablo excltomont at tho Gotton Exchuvgo to-dus, and o grout mony usles wers nindo for October, Prices varied litlo from thoso on Thurs- day, Tho arrivals of colton to-duy wers: Yrom Gulveston, 1,650 bales ; Chorleston, 236 ; Wilminglon, 715 Norfdlk, 313 ; und Richmond, 129, Total, 3,25, it GOSSIP IN NEW YORK. From Qur Qun Correspondent, Nrw Yonx, Sopt. 23, 1873, 1t {8 tho general opinton, that, if tho Stock Exeliungo had not closed on Bsturdsy morning, almost overy member of tho Board would have failed ; aud that, hiad it not beca for the actlon of the banks sud the Govornmont, with the infervontion of Sunday as o Blunk day, half tho banks of tho city would have bean forcal to suspend, The stato of feeling up to Lt Suturduy noon waa A8 FIENZIED AS IT WAS ORAOTIO, Lilerally, nothing had n prico ; oven gold wna bardly availablo ; for, If any mau hud offered Lo pay Lia dobts with §t, bis credit would huvo Leen destroyed, Tt can Do safoly assorted thut soven-cighths of all the brokors, ut tbo hour of shulting tho Exchango, woro actually brokon, If they hud not becn, such i stop could not huve boon takei, sluce tho proposition would iavo beon voted down, 'For thio past fow days, & fow brokors who aro stroug havo oen anzious (o open thio Board, 1n tho opo of Lammoring stocks, and buylng tious miuohs bolow thal rual valuo. o o ducls betng largely {n the mofority, are not fuclinod {0 put any weapons in tho hauds of tholr adverearies that may bo usod ugulnst thomsulves, Tho opinion now i, inusmuch a8’ human naturo 48 Lablo 1o rence tion, a11d ua thro aro ordors liero for the purchaso of miltfons of dollura? worth of shares, stocks will rupidiy ‘advancos and that, beforo long, the bulla will have ons tiro conlrol of thb murket, Opinions, However, af such timos aa theso, Lave littlo weight, and predivtions aro antitled to slendor cousideration, TIIE OLOKY. OF THE EXOIIANGE, ‘Tho views in regard to tho closiug of the xchangoe are varied sud coutradictory, Bomo hold that It hus cstublished a very unsafo procedent, and that hero- afier, whenover a sufliclent numbor of Lrokors (o con- trol {ho Doard get into a tight place, thoy muy save themselves from ruin by following thé ozample, Ottiurs thiuk tuat,dn o posiod of punie, such . courso 48 not ouly ndyisablo, but imporative ; ‘sud that, in the future, tho suwio thlsig will bo dous under thé samo clrounistances, BMOTHERING A PIRE, Thero are thoso who coutent that the means taken to stuy the panle have beon vxactly akin lo smothering & firo, and thut it must break out again, and porhops aL 6 Hoasol Whion we ato much logs propared for it thun 8t predont, They suy that it would Lo far butter to ‘let ¢ run it motural course; tht 4 etrong lowos wout down wih: o woak ones, tho formor could bo rolabilitatod, &nd no pormanont harm dooe, "Evorybody s awiro'that tho J vus caused by widuo inllution, partioutarly by lio rampant upttit of spscuntion, Stow ttn spirit 14 tobo extinguivhiod fn tho groat commiorolal entro, ‘whore uhuuduut money §s to bo had, aud whore thers 18 o constunt und foveriwh dusiro 'to grow rich, it would puzzlo tho most ingenfons wind fo dotarmifue, Wit 1 called business s passion fn al) our loading cltios, aud to mako monvy Is belioved to be the duty of every American oitizen, © Thoro u every temptution liero, an thoro fa in Ohicago, to enter {nto speculation, Tho Gold-Ttoom aud the Hdck-Exchango uro porpotial Jrovaeation aikd auticumont o thut oid, snd Lo whu 4 oxpasod to thelr Suflusnce f4 unsually strovg i ho can renlst thelr fasciuution, Tho stock-brokors sud speculators aro soverely con sured for thelr endloss Bull and Lear operationd ; bik it Is lmponulilo L0 woa iow ur why thoy uct diersatly from othier men with counnerelalurroundiugs, Thoy do tholr best to tucreswo tholr incomo ; #o duun sveryn body otse, ~‘Tho bunks kel thou, nd vvou_ tho fust tutions which ure foud of condemulng stock-jobbing azo often found to bo weosatly oayugod it & volorus thoroughiy ‘hcquadited wiil tho strot 131 mo, thl morning, lio hnd renson to bellove thero woro not slx bunks { town fnocont of complicity with poculatora or speculations of some gort, LAOK OF OONFIDENOE, ‘Tho roason that mouvtary alsrim {8 o ganlly oxclted here must bo sought in the general luck of condidence, Whon there fa the sllghtest approsch te o panio, overy banker or broker s ofraid of uvery ofhior Lauker or braker, becauso o 1 uware of the porpetual vooklossnoss of Lis clase, Tho wholo fratore ity Live on 8 mine, and rather enjoy tho sensution of 80 uncortain living, Thoy havo n vaguo hopo that fhioy will withdraw from tho strect somo tima with Inrgo fortuno, and lenva tholr brothors to Sght out tho Dattlo withont tholr ald. Evory timo thiero 1a a flurry {n monotary circles, you Iicar Uit it fa Lo result of tho dorungad surrency} of tlio gonoral oxpanaion ; of bullding ratiways on crodit; of Hlio mad Aplrit of advontitr; thnt tho pricea of mors chandiuo, of rol oatato, and of living muatcome down § st spochition mint stol, ant mou ndopt Ingitimata mouns of caruing mouoy, T havo boou tald thiu so ofton, and o uniformly, with very Uttlo varlation of pliraso or nccont, {hat I havo grown to ro- ord ft s part of the cant of tho ny. Tho curroncy contluuea deranged; the ox- pansion genera), the rallways to be built on credit, sud lpcnnl.nlfim to Lo rifo, Btill, prices do not decline, nor do men adopl legitimato means of livellliood, ' Nor will thoy, fumy Judgmont, I m liko tho man In tho comedy:' I liavo passcd thirough so many crikca ; Linvo scon o runny doatructions of tho conntry ; havo wit~ nessed 5o endloss violations of tho Constilution, nud &0 funumerablo ruins of {ho hopes of miaukiud, thnt such triflos o longor troublo mo, EFFEQTS OF THT: PANIO, Tho theatres and amusement-lulls have much smaller audioncos than they had at tho hegluning of last week, Porsons who havo dividond-paying sccurilios aro somowhot uncasy, lost tho dividonde sllowld ceago o be giid: whilo tho Inboring classcs nre boginuing to fer that thoy muay bo thrown out of emplogmont, and that tho com- ing wintor will bear hard upon them, This i ouo £aus0 of tho run that lis bogun upon tho saviugs nke, Tho bullotins of tho nowapaper-offices aro_closoly wateled nnd nnxlously read, Tho holel-corridors ato crowded, and overybody nski ¢ “ avo you heard of auy moro failurcs?" Peoplo jost porpetunlly, inquiriu of each other, ns thoy micets * Havo you susponde yot?" ! Do you atlll” pay s hundred conts on tho dol- lur 7 ¢ Hag'your bank- foiled 7' * Dou't ask mo for 1m0n0y ; all of anino s fockad up n the Union Trust ;» * Do you dleposit with Jay Covke & Co, 7" Amoricnns would est at anything ; tho more sorl- ous tho thing {s, tho moro provocative of Jest. St [Continued on the Tighth Page.] SPECIAL NOTICES, R A e e AR RTINS The Only Unfailing Specifiec for Disenses, f the kidnoys, bladdor, and tn e R R R e cino curer, Br, Holmbold ia tho only physiclan why hns sucocaded in ubtainiig tho full Virtaos uf Luch, His 15 tho ariginal aud ooy truly valuablo proparation, 1¢ Is confided in by physioians and patlonts aitko. 1 ls i wrtant that aufforors should obiain tho genuine, Thoro- org ank for Hobmbold’s Iistruot Buohu, with tho Dua- tor's signaturo ou tho bottlo, Schenek’s Mandrake Pills, Thoso piils ara composed oxclusively af vogotablo In- gredients, and although thoy ontiroly auporscdo the nso uf mercary, do not loavo any of its infuriousetfects, Thoy act diroctly upou tho livor, and aren valusbio romody in all casos of dernngoment rosulting from a disordored stato of that organ. Livor Onmplnlnl- Billious Disordors, Indigoation, Blck ioadach, Tsphuill Fovors, &g.,. 0. I sugoumb to tho froo uso of Hehonok's Mandruko Bills ‘ae aalo by all druggists and dealors TTERESTING PRIGES] CARSON, PIRIE & (O, MADISON AND PEORIA-STS,, OFFER TO-DAY: Tronch Wove Corsets, warranted best qualities and shapoa importoed, sbout cotual half price as follows: Rogular $4.50 Corset for $3.50., Rogular 3.50 Corset for 2.00. Rogular 2.50 Coraot for 1.50. Grent Bargain in Real Paris Kid Glovos, in colors only, at $1 per pair, formerly $1.75 pair, “Thomson’s Boest” 2-Button Roal Eid Gloves, in colors only, ordinary cost, $1.50 por pair, usual price $2.25; this is the bost Glove imported. Good 2-Button Kid Gloves, $1 por pair. Now Shados just received in “Thomson’s Boamloss,” ** Alexandre's,” * Courvoiseurs,” ond other bost makes Paris Kid Gloves. Largest Kid Glove Department in the cityr and best assortment of shados, Now Morino Underwenr in Lundios!, Gents" Missos’, and Boys', sizes nt chonp pricos, Large stock of Goents’ and Boys’ Colored Moerino Undorwear at Special Bargains. The largest and cheapost nssortment of Childrow’s Fronch and English Fanoy Ho- slery. Bpocial Bargnins in Ladies’ Hostery, LADIES TIES. Special attontion called to our very large and elogont new stock of Ties, embracing somo of the most ologant goods imported, BARGAINS IN RIBBONS, ELEGANT NEW SHAWLS, e LADIES' GOODS, J. B. SHAY, 84 & 88 STATE-ST., Are now opening and offering a large and varicd assortment of all the NEWEST NOVELTIES in La- dics’ Ties, Cravats, and Neckwear, Feathers, Ornaments, &e.; Rib- bons in double ecolors, with the new shades in Gros Grain and Satin, ho DRESS GOODS DEPARTMENT Is unusually well assorted, and em- braces overy material, shade and stylo the Ameriean or Forecign markets afiord, at ’RICES TIHAT MUST' INSURE SATISFACTION. LAKE NAVIGATION. GOCDRICH'S STEAMERS For Raclno, Milwaukoe, Shoboygan, oto., dally, Hundnss axcoptod, §a, 1. - Saturdsy lixiureiin Bose for Al Waiton, 10,y dou't J0avo WAL & P For Grand_ Invon, Grand Ruplds, Muskegon, Sprin ultpor, Manlstoo, otor dafly, Sundays orr gsvvh, dally, Sundays exoontod, 108, m. Sate urdays, hont dou'¢ loavo Hatih 1§ 1w For Goun Bay Porte, Mouday, Woduoaday, and Triday, . t.” Doudsy's and’ Woduosday's Lont gons 1o GRAND TRONK RAILWAY OF CANADE. STEAMER FOR SALE, Tho Grand Trunk Railway Compavy, will bo prapared to rocolvo offvrs for th puroliase of tho Stuamur ** ntora. tloual, " o plying Lotweon Fort Iirio and Huffato, ~Sho ia a woodon naddlv stommor, and carrlos L cars on hur deck, Wil lio wl«l{.lnrdul\vuu upon the coplation of ho *Intornatiounl Heldgo, " during tho month of Ootas jor next. ~ Otfors for thiw atonmer (o bo dollvorod 1n Bost Erlo) will ba rosgivad by tho unducsiprod. U, J. BIRYDGKS, Mausging Diroctor, Montraal, Aug. 13, 1873, MEETINGS. Attention, Sir Knights Of 8, Nurnard Qonumandery, No. 85, K, ‘I You aro or- devod to appoar at tho Al‘ylllm. hnnllui morning st 9 g;ullmhkl, lolnklmn&l lhn,(umu’n of vur late Prelute, W, R, .+ Iy ordoc o PP 4. A. ORAWFORD, Commnnder, Attention, Sir Knights ! Ohfeago Commandory, No, 19, K _T. Mombors are Horoly Watitlod 10 bo ab the Atshtin, Susdey mmesis o 9 v'clovk sharp, to join with St. Bocnard, No, 15, in core. moulus at tusioral of tho Inte Bir W, it. Malviito. By or- der of the 2. O, QLO. F. BINULALLR, Ricordor, Momhors of Covenant Lodge, No, 126, AT l-l:n “hl')l:“lmhw Il‘lab:)l lll ci‘fl‘l“hllfll Hall M: B g, Bopt, 28, af ‘elock sharp, to att th thole Iata brgthor, Wa i, Molvilo, 1ty urdus - gt 6 B, 'J. PITKIN, Heo, K l\llusnuic. 2 egular Qommunioation of W, B, Warron Tadgo, v b AL SRR R O Wi T Wareon i 24" Lanallo-ul., it (Naturduy) ovoniog, nt 7241 weluo A1 voulifont ooty sro ruquosted to toud, "1ty ofdlor of th W, M. J." 1. DUNLOY, Booratary, Masonie, ‘The roenlar astombly of Urlental Conntst 0] 810 Rasonio Tumpl, Gachis o Ko s Helsiod fl;""l:lm. u‘\(lfil‘)m 1 aL 2% w'eluok, for busluces aud work, o¢ of o Ghnuuisdar, TR 1, 27108, G, oo % DRY GOODS. Great Money @nic ! ‘We shall, for the next ten days, ' offer our entire stoclk of f DRY GOODS PANIC PRICES! And, to succeed in our object of raising currency within the above stated time, we will give an extra 5 PER CENT DISCOUNT On all purchases from this date. POSITIVE! N0 HUMBUG! MAWDEL BROTHERS, Stats aud Harison-sts, _ Trwenty-seeonlst. avl Michizan-a, CLOTH3, CASSIMERES, &c. TS Cloths, Cassimeres, And Woolens Generally. HAMLIY, EALE & COMPANY Will offer the Trade, the coming two weeks, a Magnificent Variety of Woolens, Flannels, Cassimeres, Jeans, Cottonades,and Tweeds, comprising one hundred cases, and at prices commanding the attention of close buye; MADISON AND FRANKLIN-STS, ORNAMENTAL METAL WORK. Gould Bros. & Dibibies, 149 & 151 State-st., Chicago, ORNAMENTAL AND ARTISTIC METAL WORK, WHOLESALE AND RETAIL. Fountains, Vases, Statuary, Drinking Fountains, Aquariums, Deer, Dogs, Lions, Emblematic Signs, Copper Weather Vanes, Stable Fittings, Crestings, Iron Furniture, Brackets, and Store Stools, EXCELSIOR LAWN MOWERS. Agents for the T'rench Patont: BOULEVARD CHAIRS AND SETTEES, Agents for Tounglove Architectural Iron Company. ATT'S Patent Iluminnted Tilo. SILVERWARE. N1 & ( Union-Square, New York, Are now roceiving from their Factory tho Now Dosigns for this Season, Wedding Silver, PRESENTS FOR LADIES, GENTLEMEN AND OHILDREN, DINNER, DESSERT, AND TEA SERVIOLS, FANOY ARTICLES FOR USE AND ORNAMENT, For the convonience of persons out of Naw York, oaretul scloctions from their stock ‘will be sent on approval. A description nnd range of prico should b sont with thoe applioation, . Refvorczce will bo necessary for persons unknown to the houso, TRUSSES. Rupture. ‘Tho ovil offeats of mlisfitting trussos are soon overy day, ‘Tho long oxporience of Marsh & Bowly ), 103 Hust Washe Ingtonwt,, onablos themi to guarautco oasn, comfort, and cures with ovory fnutrument thoy fit, making alsoa apecialty in Low logs, olub foet, spiual ourvature, wosk anklos, &0, Thoy olalm to oxcol all othors in thia branch, Tmporters and mautfacturors of elastio stocke l‘un, suspensory Liandages, shoulder-braces, orutohos, . ¥RACTIONAL CURRENCY, $5 Packages FRACTIONAL CURRENCY FOR BALL AT TRIBUNE OFFICE.

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