Chicago Daily Tribune Newspaper, September 29, 1873, Page 1

- The Chicage Dailp TN VOLUMY 7. PIRIE & (O, West Madison and Peoria-sts., Have now opened a splendid assortment of NEW DRESS GOODS From 26 cents a yard and up- wards, in all the choicest and most fashionable fabrics and shades. New Shawls in rich and sea- sonable colorings and designs, Black Dress Goods and Al- pacas of our own importation, of superior make and finish. New Styles in Woolen Cloths and Cassimeres for Men’s and Boys' wear. Blankets, Flannels, Housekeeping Goods. BLACK SILKS AT INTER- ESTING PRICE REAL ESTATE, TO SAVINGS BANK DEPOSITORS. CLARKE, LAYTON & CO., until furthor notice, will seoll first-class Chicago Real Estato at the lowost market prices, or Houses and Lots and Unimproved Lots at Washing- ton Heights, and take the cash pay- ments in books and checks on any of the Chicago Savings Banks. Thoro i8 no better or safer investment than Chicago Real Estate. Certified Checks on the Cook County National Bank and Union National Bank, talken as cash onall sales by us. CLARKE, LAYTON & CO., No. 120 LaSallo-st. To Depositors in National and Savings Banks. SNYDER & LEE, Roal Retato Agonts, have for salo i the sovoral divisions of the city, aud soburbs, soveral hundrod ohuico residenco lota, which thoy will eell choap, aud on cuay vorma, and tako in parttaler Tull paymout: Seoks o any of tho Ghlcago National Banks, or Dooks of any ot the Bayiags Banks of tho city: Wo Heo oifor fomo magnficont {nvestments in acro HIOpOFtY, Buro foadsanco in valuo, on the sam torms. ' Now i thd timo nco your monoy whuro it will poy you & largor po 330 thian an invesimont i stocka of bondn. SNVDIT & Lhie, 1 Nixon Building, 8. . comer ot Mooroo snd alla-ata. and FOR SALE, Fing Bndish & French Paper AND ENVELOPES, AT WHOLESALE AND RETAIL. COLVER, PAGE, HOYNE & C0, 118 & 120 Monroe-st., Chicago. FOR SALE PROPELLER METEOR For Account of Owners and Undervwriters, t Clark'a Dry-Dock, Datroft, togothor ‘with bor englncs, boilors, ancliors, chains, lo. This vossol was Lurtiod last Juno, hna sirica lizen rafsod, and fs now afloat. Sfo hne two 6uginos of M5:x33 inch gglindor, built s tho Cuyaiogs Steam Lnglao (Vorks, of &wunafl“n or bollors aro 5018 foot, and apparantis in oad candition. o madorsiitied will rogotvo proposale from partios do- elring to purchinso the proporty at private €' until oCT. 1, 1878, And 1 5ot sold boforo that date tho same will bo sold at auotion {o thio higliort biddor, Salo’ will tako place st 11 olalock a, m. on board of tho vossol at Trowbridge & Wil- oox's Dock, foot of Woadwar Dotroit. Terms will bo mado known Asshonow ller g of walo. SN e DAVIS 44 and 46 Main-st,, Duttato, STOVES. Th rican Baso Burnor, the * King of Staye P s i W LR S, corncr of Congrose, PROPOSALS, Proposals {or Tumnel, OFPICE OF THE WATER COMMISBIONERS, 30 WEST BWAN.KT,, BUFraLo, Sopt. 21, 1673, SEALED PROPOSALS will bo roceived at thin oficy untt] Wednosday, Oct. 16, at 98, m., for axtonding and omploting thy uow tundl for iho Butlalo Oity Waorks undor the Niagara River, "Plans, spooifications, and quantitio for the sbove work can woon at this ico, and the tunnel as ploted (a distanco of §73 foot) can now Ry timo by tho contraciors. very bid must epoaily & grosa sum for the complation gt a0 ontire work, and' bo socompantod by & kond or bonds in thosumn of ten thausaad doflars, binding the par- o partioa waking o proposad io onior nio o contract itk fho ity i tho work Is anardod to o Tho Gommissionors roservo the tight to acaept or rojoct any or all bids, . WEL PL B MARSIT, JAMES RYAR, Wator Gomm! ator GUNS, Guns. Guns. Guns. JOSEPH BUTLER & 00, 179 East Madison-gt., tvod s Iarge atosk of broachl D T e oW 8 ot s :‘-“n':.“’.’".i.,fi,’:sf Uallly; also V. W. Groonor's and Olinties Da- 1y . Bportsmon are 1avitod tooxatmine E; ur stook. Ground and Plungo Teaps, Tatham's Now Yerk thot, i and Ploos Trave: Tethm's Now York ot ~ LAXE NAVIGATION. GOODRICH’S STEAMERS For Racine, Milwaukoo, Bhoboygan, ste., dally, Sundays oxcanted, Ua. ta, Natuedsy Exdursion Boat for Biile waukeo, sto,, don't leavo until 8 p. m, Vor Grand_Havon, Grand Rapids, Muske Lako,. Kruitporl, Madistas, blon daliss coptod, 7 p. . Tor St. Joseph, dally, Bundays e: tod, e T, ariiaga, DUt don's Loave watl 1T g 0 ™ Waednoad: Wednosday finn. Bpring undays ex~ Hat- , and Friday, boat goes to For Groen Bay Ports, Monday, at7p, m, Mouday's and Escanabn, PAPER AND ENVELOPES. WEDDING Tvitation Paper & Euvelopes AT WHOLESALE AND RETAIL, CULVER, PAGE, HOYNE & C0, 118 and 120 Monroe-st., Chicago, [ GENERAL NOTICES, NOTICIHE TO ALL DEALERS LIVE STOCK! THE ST. LOUIS National Stock- Yard, Tocatod at Kast St. Louls, ato now proparod o racotvo all Kinds of Live 8took anl earo for it proporly, Tho trans: forring by tho Missourl Pacific, Atiantio & Pacifla, and tho 8t Louls, Kanaos Gity & Noriliorn Rallway, ar¢ por- fected, 11 billod through diroot ta thaso yards, all tho Xastorn linos aro now proparcd to rosolvo stock for suips mont East or North, No formal oponing of tho yards will tako placo until tho'3d day of Ootubor noxt, * "Tho hatol {8 now roady to reocivo guosts, with firat-alass. xggommndations., Wo ask a liberal haro of patronago. A, M. ALLERTON, Pros't. R. M. MOORE, Assistant Troasuror and Sooratary, CHANGE OF FARE. On nnd aftor Oct. 1 tho rates of faro on tho Wabash.av. Btagos will ba: Commutation Tickels, 90 for 81.00; for salo on all st: Singlo fars, 10 con! REMOVALS. WE SHALL REMOVE Our RETAIL business to our NEW STORE, STATE AND WASHINGTON-STS, On MONDAY, Oct, 8. FIELD, LEITER & CO. REMOVAL! ‘We now oocupy the Elezant_and Spacious Btono ¥'ront 8torp known as Nos. 52 and 54 LAKE-8T,, fourdoors enst of State-st.,front- ing south, where we will bo plensed to wel- coma all our numerous frionds and custom- ora, during and aftor the Grand Exposition, E. BURNHAM & SON. Ohicage, Sopt, 25, 1873. HOTEL. IRVING HOURE, 148 & 160 Wabash-av,, Chicago, FirstClass Accommodations for 150 Guests, Terms, $2.00 per Day. Tagnted in tho contro of businoss, noar Hilinols Contral, 0., 1. & Q., and M, C. Rallcaads, R, L, CARIAR'D, Propriotar. N. N. WEST, Clork, formiorly of tho Old Gity Hotol andRichuiand Houe, THE GARDNER. This elegant hotel, fronting Lake Michigan and over- Looking Lako Patk, commands an unobatructed viow of thio Iake, and is unsurpassod in looation, S Partioa viaiting Chicago, olthor for businoss or plonsure, will'Aid at tho Gardnof. Accormointions ABd. MHORLIOE unsurpaseed by auy hotel on tha Amorlcan Cantinent. Tho Inter-State Induatrial Exposition Buildings aro op- ‘posito tho hotel, FRED H. GOULD, Proprictor. WINTER RESOIR'T. ROYAL VICTORIA HOTEL. Nassau, N. P.,, Bahamas, opens for tho wintor scason Nov. 1. Far {ull aformation, addross J. LIDGERWOOD, Agont, 578 Broadway, N. Y. T. J. PORTER, Propriotor, cHICAGO, ‘Will continue to do business thp samo s usual. Deposits Received and Ohecks Paid in full, Good Acgounts solicited and Liberal Ad- ‘vances madg. 8. W. RAWBSON, Pres't, H.F. PULSIFER, Vico Pros't, ‘W. B. HOSWELL, Cashior. To Depositors. KELLOGE, VOSWINKEL & 00, BANKERS, Have just commenced busing t 04 Lo~ BioetttSURmIRTd, business ot 02 Ta: faacs o/ e aties, T Y 1 e g -proof Vault and Safe, L RECRIVE DB SOBTES N GO RENOY AND PAY OHEOKS IN THH BAME; holding the curroncy in copstant rendinesa for payment, A. W. BELLOGG, 3. P. VOBWINEEL DONSELEN, ROBERT WINTHROP & (0, - W]J;[A-N'Kflm AND BROKHRS, No. 18 Wallet., Now York, szsoate HONDR, "AND GOLD, atlow § pi cont iateron ro B FOSITS, and trausaot s genoral Bankiug and. Trokaraso noss. WANTED, ANTED-~AGENTS.FROM 875 10 240 por month, evorswhuro, ta sell ono) of the most usoful artlotes cver Invented neoded n ovory family. Hond for Olrou Inr. Addeess 5 " SECOMB & co., 107 tato-at., Cuttcaao, Til, W ANTIED. . o undoralanad laviug the falon caitidanco tn tho nded National Banks of Chicago to resumo_ busi. will lnmlh;n ehm:dl(l :"‘l;l (lll’ll::“un (‘lm nlluma bauks aounty oF for goods ot tho ToNORL Bhalk pricem: Y or for goada &t thg logpt ool ARkl L, 1o Millinery and Fanoy Goods, 45 & 47 Jacksou.st, $300,000." NISSOURT STATE LOTTERY. Grand Single Numbor Soliemo, jrams the la at day of orerymonth, ‘ifi”"“’,@{"’%"“'i 000, Wholo tiokts, alves, 85, ond ll‘:‘l?ll‘:?mul"m MURRAY, SHLLER % CO!) ok e, B, uis, Mo, NEW_PUBLICATIONS, JAY COOKE'S TOWN. Is DULUTH a BUBBLE, or s FRAUD? Wil Li livo? Was it INTENDED to live ¥, This valuino has boon long proyaciog and NOW the FACTH about Duluth and tho orthorn Paolilo Rallroad should be known, Jugravings showing tho HO-OALLID wator.afeloin of Duluthy aid mupa acoompanying the work, matlad froa on recolpt of B3 ovuts, Addross JORKPI 8, BROWN, . P, Q. Box X, 8t, Paul, Minn, CHICAGO, MONDAY, SEPTEMBER 20, 1873. THE SITUATION. The People of the Nation Enjoy o Much-Needed Day of Rest, They Allow the Panic to Take Caro of Hself for a Short - Seasons Meanwhile the Financial Situ- ation Tmproves Con- siderably. Chicago Increases Her Currency 34,000,000 in Forty-Eight Hours. The Union National Will Re- sume Business This Morning. Also the Cook County National..-The Third Natiohal to Pollow at an Enly Day. An TImportant Letter from President Grant on the Situation. Iic Thinks ihe Banks Strong Enough to Sustain Business by Lib~ oral Discounts. And Promises to Help Them by Using the Reserve Greenbacks as Public Need Re- quires. e Hias also Ordered the Prepayment of Novein= ber Hmterest. Shipments of Grain Abroad Re= newed in New York. The Produce and Gold Exchanges Opon --The Stock Exchange Opens To-Morrow. Commonts of the Pross---The Groat Stock Operators.” OHICAGO, TUE WEATUER YESTERDAY was more dopressing than holf a dozon bank sus- peonsions. The day was ushored in by rafn, and it rained ot fitful intervals until night. There was nothing choorful about the sky, nothing to induce pooplo to wallk nbroadin tho strocts and parks, or attond worship, or stana in groups to chat over tho naws, If thoro was any, There was abeolutoly nono, everything being quiot. Of courso the banks worae closed, and tho Presidents went to thelr respoctive sanotuaries to divert their miuds from worldly thiugaiby contomplat- ing tho UIGHER AND HOLIER SUBJECTS to which tho winisters eallod their attention, Doubtloss they will come out to business this morning stronger and more confidont than ever, rofreshed and rocuporated in body and soul after tho repose and worship of the Sabbnth, In soveral of the churches the panio was the topic of ministerial discourses, and, whileministers aro not first-class political economiats or financiors, thoy cun draw n lesson from current ovents, and inculeato the folly of putting too much menoy in earthly banks, instoad of laying up troasures in THE CELESTIAL DANE, which nover susponds. The moral lesson taught will undoubtedly bo good seed planted in rich 8oil, that will produco an huundred fold. The hotels weore desorted, thero was nothing doing round town to attract notice, and yot thero was much being dono that will gratify overy one this morning, because it will show that tho panic is subsiding, and that the approhonsion of real flnoncinl disnstor wos unfounded. Tho best nows is that CURNENGY TO A LARGE AMOUNT was recoived by expross, and that tho stringenoy of tho money market will bo immediately ro- lioved. The following statemeut shows the amount of curroncy rocoivod by the threo Ex- pross Companios sinco Saturday AMERIOAN Exrness—Boturda 8,1500,000 1,200,000 U. B, Express— 200,000 215,000 ADAMS Exenpss— 200,000 100,000 Duo this MOFDINK.seseeres 500,000 Totuluevsvriessearnsseres. 83,018,000 This mouey will begin to oiroulato to-dny, ouging the pressuro, and boginning thoe woel undor the most favorable suspices. Further supplics will arrivo daily, aud s the wook grows older tho supply of curroncy will grow larger, until, gradually and almost impercoptibly, busi- nesy will resumo its wontodactivity, Anothor choerful announcomont is that THE UNION NATIONAL WILL RESUME businoss this morning. ‘I'his dotermination was- reached yesterday, and i8 moro fully explained in the following cards : UnioN NatioNAL DaNK, Quioaco, Sopt, 29, 1873,— ‘Tho Unlou Natlonul Tauk, belloving thiat it would bo impossible for tho banks and business nien of Chicage to contiuvio for any length of timuto carry on thelr finuncial and cominercinl affulrs on ony otlior Lusis thun that adopted i all the commercial centres of the country, having fofled inall its earnest cfforts (o se- cure auy concert of actlon aniongst our bunkors, dls coutinued ita active buiness for iwo doys, in tho Lopo that the huslness men of our clty would uot fafl to 10 {Lio ubsolute imposnibility of permanently main- tuiniug any different posiiion from that accopted by moro than 2,000 National Banks of the United Btates, o ofileers of tho bauk yot bulleve It smpossible, and hope that this unity of uotlon way e secured ; but, recoguizing the confldenco veposed fu_them for 8o Inuny years, utkd kuowlug o olvency of diolr bunk, aud belloving Itto Lo s solomu duty it this omergency to ghare tho common lot of their cre, and fo uct with thom in by all legitimuto meuns in thelr power, the comuprcial fritercats of the conntry, hav determined fo open thelr doors at onco for tho resumption of business, Tho unlc will Lo opon for bustuess ut 10 o'clock this morn- lug, W, ¥, CooLnavai, Prealdent, 0., Wiegrrw, Vico Presidot, a 1ves, Cashifer, custom~ llliluhlllmK ‘We, the underaigned, rostdent Directors of the Union Natioual Bank of Ghicau, bierchy declure fo tho yube 1o that wo will, and dd heroby, hold oureslves peraon: ally rosponsiblo, aa Indlviduals, for the yaymont of all 110 doposits noty held by sald bank, or which may horeaftor be made with It, 5 Jonw V. Fanivrry, WiLLIAN T, CooLiiAvar, CaLviN T, ‘Wiernrn, Aunmir A, Muxorn, Tizuan G, Powens, Asa P, KELLEY, OrinToN Buiads, Jastss W, OpeLL, AsA Dow, DANiEL TioxraoN, Tho resumption of business by the Unlon Na- tional indicates that the experlonced finauclors who managoe its affairs aré satisfied that elroum-~ stancos justify that courso, and will have, au it should have, the offoct of infusing a botter tono into overy man, business houeso, and bank. As sunouncod in Tne TRIBUNE of yestordny, Mr, Allen, Prosidont of the o COOR COUNTY NATIONAL, Intonds to bogin business sgain this morning, oand thore is scarcoly renson to doubh that, with- in o brief poriod, neatly all tho banks will follow tho examplo of tha Cook County and Union Na~ tionals, It Is understood that THE THIND NATIONAL will rosume at an carly day. T'no ofticora of tho . NATIONAL IANK OF COMMEROCE woro buey yesterdny in tho oxamination of the accounts aud securities of tho institution propar- atory to antiepated rosumption of business this morning. A epocial meeting of the Diractors s Lo bo held bofore bauking hour this morning, to dotormine ns to future action, and there is but littlo doubt, tho bank boing solvent aud having considorable ensh on haud, that they will deter- mine to resume busincsa nt once, and opon their doors for a full rosumption at 10 o'clock. IN CONCLUSION, what with the arrival of nearly £5,000,000 of cur- rency and resumption of businesa by the prom- inent bauka above montioned, thore is oxcollont ground for faith in the dnys that aro coming. Tho sky fa clearing, the clouds nrs fast fading from viow, and soon from horizon to horizon all will bo brightnoss, snd tho sun of prospority will agaln shine on our favoroed conntry. OABD FROM QUNARD STEAMSHIP LINE. 1t 18 said that unless arrangoments ara mnda for tho trnosportation of grain from tho Weat direct to Boston, tho Ounand gtoaters sill havo to leave that port with- out cargoes, It would scem o bo moro ratioual for theso atoamors, if thoy canuot gob roturn cargoes ot Boston, 1o suloct somo_othor port as thelr Auerican terminua, 1t oston capital would expodita tho com- pletion of tho Bt, Lawrouce canals oud tho conmoction with Lako Chomplain, they conld have Weatern pro- dnco dolivered in tho fisart of New England nd with- in casy ucoesa of Lioston, direct from Chicago,—T1s Chi- cago Tribuna, To the Editor of The Chicago Tribune : Bin: Your romarks about Boston, in inclosed article, will apply with oqual forco to auy other port on tho scaboard. - If vessels cannot find cargoes at one port thoy will sook others where they can be supplied. But, to reliove your anxiety about our Boston shippors, it mny intorest you to know that wo bave in clovator thero, and on route from the Weost, sufiiciont grain, ongaged at through rates, to supply them until Decomber next, being, in thia rospect, probably in o bettor position than any of our Now York compotitors, as wo have the property in hand, fustend of moraly the contracts With shippors to fall back upon. This, and the faot that for two yonrs past tho shipments from this point of morehaudiso to Liverpool, through bills of Inding via Boston, chiofly by our steam= ors, hayo beon ns large or largor than from all othor United Btatos ports combined, will show that the prosont arraugoments for tho_transpor tation of Western produca dircet to Boston are not ontirely unsntisfactory. Your obedient sor- vant. T, H, DoVERNET, Genoral Western Agent Qunard Matl Stearuship Line, —————— PRESIDENT GRANT'S VIEWS, Wasixarton, Bopt, 28.—1he following lottor was writien toduy: W ExE0UTIVE MANAION, Sopt, 26, “ 3easra, . I, Clastin and Chas, Anthony, ‘ GENTLEMEN ; In rosponso to tho views you havo communicatod to the Prosidont, touching the uso of currency to restoro confidenco and logitimate trade and commorce, I havo tho honor to communicate the following: Tno Govorns mont i8 desirous of doing sllin its power to ro- liovo tho presont unsettled condition of busi- 'noss offaits, which {s holding back the immonse resources of the country now awaiting trana~ porkation to tho seaboard and o market. ~ Confls denco on tho part of tho poople iy the first thing noodad to raliove this condition, and toavert tho throatenod destruction of business, with its accompauying disasters to all classes of poop'o. To establish “this feolng, the Goverumont is willing to take all logal measuros at its com- mand, but it is ovidont that no urgent cfforts will avail without tho active co-oporation of the banks and monoyed corporations of tho country. With the $14,000,000 slready paid out in the purchase of Govornmont indobted- nosy, and tho withdrawal of their large doposits from tho Trensury. The banks aro now strong nnough to ndopt » liboral policy on their part, and by a general system of disconuts to sustain the busincss interests of the country. Should such s coureo bo pursued, the forty-four millions of rosorvo will bo considored ns money in tha trensury to meot the demands of public necessity, a8 tho circumstances of the country may require, Cloge attontion \vill}‘bo givon to tho course pur- suod by those who Hava the means at their com- mand, of rendering all aid necossary to restors trado to its proper channels and condition. With o viow of strengthoning the hands of those who carry out tho measures above indicated, orders Liavo alrondy boen i¢suad for the prepsymont of tho interost accruing in November. #U. B, GnaNt.” i NEW YORXK, Special Disvateh to T'he Chicago Tribune, NEw Yonx, Bopt 26.—The bright prospoots with which the woolk cloged for Wall streot con- tinuo to-day, and thero is visible nothiug of tho intonso excitoment which charnetarized lust Sun- dny, The streot yesterdsy, and tho hotels to- day, havo been dull; in fact, businoss on tho streot ia 8o for susponded that tho excitement thoro, on Saturday, was less than on ordinary days ot this time of the year. 'T'he progpects for tho week aro that DUSINESS WILYL RESUME WITHOUT DELAY or much excitement, unless in the Btock Ex- choange, Tho dificultyin eeclling foreign ex- chungo socoms to lave beeu overcomo in o lnrgo menaure, and heavy shipments of sllsorts of grain wore made yosterday. ‘I'he demand for {roight room was unusually heavy b generally advanced ratos. The suspended firms are rapid- ly reorgunizing, and promise & resumption of DLusfuess beforo the end of the woek. Ilowos & Maoy have practically resumed already, Clows & Co. suy thoy will bo ready to begin anew boforo tho statemont of their affairs is ready for pub- licotion, Fiske & Hatoh, moro conscrvative, de- clin to begin agaln until all their pust indobted- ness I8 oleaved off, Jny Cooke & Co. promise n 1t Is noturally o strong concorn, ench shorohold. er being held liablo for the amount of his stock; but tho Bank of the Commonwanlth s probably & hopoless wreok, The nPnuing of tho Btock Exchango on Tllesdn{, a8 rosolved on, creatos groat unoakinoss, both in stock and commoroial circlos, particularly in tho lattor, whose membors nnticipato renewal of ox- citement, which may-again extond to the com- morcial exchanges and produco great distross to morcantilo houses, The Produce and Gold Ex- cliauges HESUMED WITHOUT DISARTIOUS RESULTA, and this fact oucourngos the hope that no bad effects will follow the reopening of stook gambling, T'ho wnnouncement that Lnsinoss will bo resumed at the Htock Exchangoe implies that the confliciing and confuded nc- counts of tho brokers huve boon straightencd out and uettled, Othorwiso, tho u’)anhlg would bo only a signal for a renewal of tho panio, and of a florco fight botwoon bulls aud boars, Novw, it Iu liold, thero i little causio for controversy on the Bourse, and EBVERYTHING PROMISES PEACE and quietnoss, at loatt until the future shall di- vido the membere into distinct parties again, It in oluimod by dealers that business, for some timo, at loast, will bo conducted with more mod- cration than formerly. Dr. Thomeg Carlion. on belug asked if ho know anything of the whoreabouts of his son Charles, tha Unjon Trust Company dofaulter, statod, fo-dny, that ho did not, and added : *'1 waa al tho ‘bank on tho Fridsy that he left, and convorsod with him, T BEEMED MUON EXOITED at tho timo, but I attributed it to tho run upon | the bank, and s fooling that thoy might sus- pend. Ia thon sald to mo, *‘This run will kill me.” While I was with lum, he suddenly roso from his dosk and wont ont, ns 1 supposed, to got somo rofreshmonts, and I have noithor seon Tior hoard nuf&hlng of ‘him sinco, I havo writ- ton, tolegraphied, and made overy Inquiry within my power {o learn his whereabouts, but withont success, I know nothing of his obligations, un- til afterward. o was vory foolibh to hiavo taken tho course ho did, for I think I could have aided him fn his troublo. Inever knaw of his boing guilty of o dishonest sction, Such was the charncter ho gained during s numbor of fimm ho apont in " tho employ of the United tatos Trust Company, Iknow W0 LED NI INTO theso speculations in Wall strcot, and who aroe diroctly to blamo, Provionsly, Charles was in very good cireamstances for n man of his age. o was porliaps worlh from §200,000 to $800, 000. 1 tried to porsuado him to keop out of Wall atrect, but to no purposo, sud it has proved biv ruin, 1 bavo no further ‘knowledge ou the subjeet.” (70 the Argociated Press.) A DANK PRLSIDENT'S RECOMMENDATION, NEew Yonx, Sopt, 28,—T'he Presidont ot the TFirat Nalionnl Bauk hore, urgos the immedinto rosumption of speclo paymonts, on the gronnd that stich aotion will add'$80,000,000 positive ro- fiof to the mouoy market. TIE HOTETS DESERTED. Tho corridors of the Fifth Avonue Hotel wore almoat desorted to-night, forming a striking con- trast to tho seono of Inst Sabbath evening, whon tho hotel was crowded with an anxlous and ox~ cited throng of bankers, brokers, and merchants, Tho letter of the President and the favorablo news from Chicago will, no doubt, exort a bone- ficial influence bero to-morrow. pEaatoiiet ‘WASHINGTON. Special Dispatch to Tho Clicago Tribune, THE EXTRA SESSION, ‘Wasmxaroy, D. C., Sopt. 28,—Tho talk of an oxtra session of Congross, 80 far s thin city is concerned, i tho morost gossip of irresponsible hotel and nowspapor offico loungers. The idea has nover oncoe been eithor seriously ontertainod or discussed in oflicial circles, Thero has not beon a prominont member of eithor House of Congrota hero this summer, oxcopt Gon.Garflold, who comos to look after his private mattors, and he hay but littlo faith in the ofiicacy of & move of this obnracter, So far as tho Administration is concerned, it is inclined to think an extra wos- sion would be especially INDIICAL TO THE REPUDLICAN PARTY, and, liko Martin Van Buren's extra session aftor the panic of 1837, might result in electing an opposition President as one of ity conse- quonces, As prodicted in thoso dispatches, THE USUAL MONTHLY PROCRAMME of the Troasury Departmont has boen abandon- od for tho ensuing month, 80 for a8 tho order to soll gold and purchasp Londs is concorned, al- though it is not improbablothat if financial mat- torn shall Y‘mmm 5 decided changowithin 10 days or two weeks, tho Dopartment may thon make up aprogramme in lieu of the customary one. Iow- ovor, tho Sccrotary has ordered the prepaymont with one-half por cont robate of the interest on GOVERNMENT JONDS DUE Nov. 1, Tho Secrotary is said to be determined not to do anything further in tho way of bond pur- chasas, and not to allow suy of tho 244,000,- 000 lognl tender resorves to bo used for any purpose whatever oxcopt to meot drafts upon the Trensury which the receipts will not covor ; aleo, that, no mattor what pressuro may Do brought to bear, Lo will not purchaso bofore January noxt tho bouds maturing st that timo, Judgo Richardson is ropresented a8 having said that hio belioves thero is AUTHOMITY IN THE DANKING LAWS to warraut intoxforouco by the Government in the matters of any National Bank which may suspend paymont to its dopositors, That, he snyw, i something the Goverument has nothing to do with, and unless s bankrofuses alegal order for 8 note of its own issuo, no interforence will accur, Ho thiuke the First Natiounl Bank, of this city, committed a greal blundor in havin, Roceiver appointed, and meroly added to_ tho flnancinl panic by doibg as it did, 1o had diffieulty in fieling ono of its notes to protest, and it could just as well hnve gone on and liquidated its dobte and saved ite charter. WHEN A TEQEITER 19 APPOINTED o National Banl is like tho eatato of a dend man, and can no more be rogarded in the payment of its dobts, TIIE PROPOSITION FOR SETTLEMENT with oreditors, which was promised by Jay Cooke & Co., is oxpectod to bo made publio to-morrow. 1t is understood that the Compauy will offer to pay 60 por cont cash, and tho remainder in fu- torost-boaring notes for one, two, and throo yoars, 5 The amonnt of exchangoe purchasod thus far by the Navy Dopartmont to moet its disburse- mouts in London is ounly $1,000,000, CONTEACTORH on tho works of improvemont in tho cily bave held moetiugs for the purposo of agreciug upon & determination to stop work on tho streots, avonucs, etc., during tho stringency of the monoy market, and espocially bocause of tho difiienlty exporiouced in ob- taining currency with~ which ‘to poy tho army of lsboters omployed up to this timea, A fow contractors have opposod such ac- tion, but ndecision has beon mutunlly arrived at, by which the work alrendy begun will bo flu- ishod, and tho Inborers graduslly furloughed or dismissed. FIVE OF THE BANKS ) of this District docline to joiu tho othors in the adoption of the plan of suspending ‘pnymmxtu on «lrnuu for large amounts and tho issuing of cortificatos in their stend. {10 the A ssoclated Press.) ACTION OF THE WASHINGTON BANKS. WasutxatoN, Sept. 28.—~A number of bank Diractors, oflicors, and bankors met on Saturday, formed an association, ond reeolved that the banks and baukers of tho Assccintion may cer- tify chocks for their customers in Ifou of paying curroncy for all doposits held by themn to this dnte, but will open special accounts of currency, payable in curroney. THE CERTIFIED CHECKS will be roceived by difforent banks and bankers of the Asgociation, on doposit, and in paymont of notes due thom, which certified cnecks shall be redeomed by partios cnrtl!ylug in losn certifi- cates, issued by the Controlling Committeo upon deposita of collectornl wocurity. Each baak will rogulato its own eoxchange with other cities, 'This arrangemont lgoos into effoct Bopt. 29, and continues till Nov. I, THE DANKS WHICH DID NOT SIGN this agrooment ore tho Bank of Washington, Riggn & Co.I the National Bauk of the Repub- Mo, Farmors’ and Mochanics' Nutional Bunlk, of Goorgotown, —— NEW HAVEN., New Iavey, Sopt. 28,—An oxamination into tho offairs of tho Ansonin Bank shows that the capital atock iy unfmpuired, Soveral largo man- ufacturing establishmonts are unsblo to get sufliciont ourrency to pay thoir men, and have susponded oporations for a short time. e CLEVELAND. Oueveranp, 0., Sopt. 28.—Tho assooiated Dbonks and banfors composhl{: tho Clearing-Houso in this city, at o moeting held lnst avoning, nfter a vory caroful considoration of tho subjoct unanimously resolved, in view of the aclion tukon by the banks in most of the principal citios Enat and Went,that it will boprudent to do- clino to pay currency upon largo chocks o long as the prosent monetary conditlon shall con- tinue, and that thoy willpay such checks only through tho Clearing-Hotiso, corlifying tho same whonover cortification shall bo dosirod. pias s toey BALTIMORE. Speetal Dispateh to The Cliaeago Tribune, Bavrivone, Md., Bopt, 28.~The Froodman's Baviug Bank on Baturdsy took advantago of the rulo roquiring thirty days' notico. 'Tho Adnms Tixprosn Company his ordored ita oflicors hore to make no doposits in the banks aftor businoss hours Suturdny, T'hore is a vory hopeful fooliug for this week ; if confldouce can be kept up thore will be no trouble. DS INDIANAPOLIS. Innranarorts, Sapt, 28.—Financlrl matters ro- mnliu uiot, Nofurther runs on tho bauks aro ro- portod. i LOUISVILLE, LouIsyiLLE, ]?" Hopt, 28.—At a mesting of tho Bauk Pyosidonts aud Osshiore. hold aj tho Gnlt Houns, {n this olty, this ovoning, articles of nssocintion woro ndopted for s Cloaring-House, Twolve bauks are ropresonted in the association, Rosrolutions wero adopted aimilar in purposo and offact to thoso mow in forco fn New York and othor cltios, It is probable that other banks not representod will sign articles in the morning, ——s HARRISBURG, PA. IIArnisnung, Pa,, Sopt. 28.—Reprosontatives of all tho banks aud savinga inalitutiona of this oity mot to-night, and unanimously agreed to suspoud the paymont of curronoy. ———— SAN FRANOISCO, Special Dispateh to The Chicago Tribune. 8Ax Fnaxoraco, Sept, 28, —Prominont bankors and morchunts nra {n privato consultation to- dny (Sunday) on tho financial condition. Tho proulpco!s of lionoting all domands during tho coming weok aro rogarded as good, S el THE SITUATION IN MISSOURI. i1, Louts, Hopt. 28,—Expross lincs ontering hero aro bringing to this city a much larger amount of ourroncy than thoy are taking away. Tho bLavking-house of Curry & Kirby, Joffor- gon City, and two banks at Chiilicotho sitspended yestordny. Thoy aro regarded as solvont, and no losses will ho sustainod. Banks [n other parts of tho Stato still kold out na far as known, et ey THE COUNTRY BANKS. MANSFIELD, O, Syeeial Dispatch to The Chicago Tribune, Maxsr1ELD, Sopt. 28,—Ycesterday was a day of considorablo eveitoment on account of the fail- ure of the Firat Natlonal Baak, and of the ad- mitted inabilily of tho othors to stand arun, A mooting of officors and Diroctors of the remain- - iug bauks was hold, end a resolution adopted to suspond curroncy paymonts exceeding $50 on all Ualances. At 0 o'clock 8, m., & public meoting was leld in Millor's Hall, in which tho financial condition waa discussed, and a resolution finally pnssed unanimously to sustain tho bauks in thoir course, and to still gontinue deposits. It ia thought this etop was oll that savedthobanks, All yorts of rumora ara afleat about the condition of tho ausponded bauk, Liut &3 no statoment hns ?'nt beon made nothing is known definitely about ta linbilitien aud assots. A slatoment is looked for to-morrow. Tho oxcitement is gradually dying away. JEFFERSONVILLE, INu. JEFFERBONVILLE, Ind., Sopt. 28.—The financial excitement has produced its effect n this city. Tho unoxpected and capriclony stato of tha money markot in Louisville hag incrensad the already intenso fooling among depositors horo, and quito » run was made during Saturday on the First National Boank, which paid all checks and closed it doors at the usunl hour, At the Citizons’ Natiopal Bank, considerablo oxcite- mont existed, Many crowded around its doors, discussing the financial situation, butno run was made. ‘I'ic OLio Falla Car and Locomotive Company, employing 700 men, has susponded work in all its departments oxcopt tho foundry, thus throw~ iug out of employmont about 400 mon, This firm failed to secure enough onrrenocy to pay off 1ts employos, aithough thoy offered the bost pa- er. It was consequently obliged to suspend. 'ho Southwestern Car Company have also ro- duced their forco. DLOOMINGTON, ILL, Special Dispateh to The Chicago Tribune, BrooMyaTon, I, Sept. 28.—Saturday in this city was marked by no unususal event in financial matters. Tho banks still continue to pay only a part of checks calling for large amounts. On soveral of the ronds loading into this clty, numbers of oxtrn men are_boing discharged, to reduco oxpenses during thoso times of strin- gency. BPIINGFIELD, ILT,. BPRINGFIELD, [ll,, Sept, 28,—The banks here have taken no nction, doing business os uenal. ‘There isno oxcitemont whatever, and oveory- body is essy. Tho deposits were larger in amount yesterdny ovening at tho closing than at the opening in tho morning. It {s thought no bauk here will ontertain ¢he suggestion of sus- pouding. [Ta the Associated Press,) SrmiNariELy, 1L, Sopt. 28.—Our banks have tnken no action, but are doing businoss as nsnal, ‘Lhore is no excitoment whatever, and everybody is ensy. Doposits wore larger in amount yoster- dey evoning at tha closing than at the opening i the morning. It is thought no bank hore will ontertain the suggestion of susponding. PEOUIA, ILL. Peorra, 1L, Sept. 28.—Inancisl matters is tho all-absorbing topic of conversntion in busi- noes cixcles as well as social, All tho banks of tho city, privato as well as National, oxcopt Davig & Hogue snd the Gorman _Savings Douk, have _partially snspended—that is thoy only pay small chocks. Tho two Iatter pay all domands of their depos- itory o full, proforrivg to pay tho curroncy to cortifyiug to tha checks of thoir depositors. This morning’s Nafional Democral contained the following card from Davis & Hoguo, bank- ora: o Our Customera : We hiave continuad to transact our husiy usual, Our drafts ato honored in Chicago aud New York, and our depositors® cliccks are paid at the countors, ' Aske ing our custowers to trausact thelr busiuess a3 horeto- fore, we romaiu, vory respectfully, Davis & Hoour, Businees on 'Chango yestorday was light, yet thore was o much bettor facling manifosted than the day }anioqs, and moro business Wwas trans- acted.” The ability of Davis & Hoguo and tho Gorman Savings Bank to pay all domands has done much to quict the norves of thoso who woro most tried, and will go far townrd holping our manufactories to go on with a full force of workmen, a8 before. DENVER, COL. Special Dispatch to The Chicago Tribune, Dexver, Col,, Sopt. 28.—Tho banks all closed in good condition yesterdsy., Allof them are woll supplied with currency. s SENATOR SHERMAN, OF OHIO, ON THE FINANOIAL SITUATION. Special Dispatch to The Chicago Tridune, CixoiNnATI, Sopt. 28.—Senator John Shorman mado the following romarks on the financial sit- uation, at the Ropublican masa moeeting in this city, lnst night : The Ropublican party is on trisl. It has passed over nicely all its trials, but thore is one trial it has had to go through in the last two or threo weolts, and that was the tost of our finan- cinl ystom whon touched with panfo, I want to show you now that the Republican party, which hias been so successful in all tho measuros 1t has adopted, has boen ablo to do you a sor- vice which yon can nover estimate by any moda of ostimating smong mon. It has furnished ou 7! A cunmENCY whicl hns cnabled you during the pauvic of the last woek or two to convert your mouoy into nnylhhqi olgo that can be offered you, either houses, lands, or stocks, Ilero you aro, Have you got n groenback in your pocket? Have yon got a Natioual bank note in your pocket? Ars ou afraid that eithor of them will broak? "[Cries of **No,"] My countrymen, I have got vory littlo currenoy on hand, ‘but I will redeom ovory dollar of bank-notes that you con show that” bave been dishonored, [Applauee.] You have now a currenoy so good that the peoplo DO NOT WANT TO GIVE IT AWAY, do not want to dcgnslt it, but koop it in the safont Y‘lmm thoy hnve got, with porfoct cor- tainty that it s good for the tast oent it prom- isos to pry. FORMER PANICH. Why, thon, are old men sround me who ro- momber back to thoso times in 1837, 1847, and 1857, Perhiaps some can go back to 1816, My friond hero oveor tho way suys ho can romomber in 1816, whon n panio camo, In those old Dem- ocratio timos, what wag the rosult? Every dol- lar of mouoey in tho pooket of the people was worso thon usoloss rags, Tho money was the first thing to go, and it was not worth anything, {A voice—!Tow about Jay Cooke?”] "I will come to Jay Cacke in o momont, ‘I'nc monoy in thoso timos was tho firat thln]; to withor, Then, u‘Lmn Domacratlo policy, the loss foll npon the pooplo, foll upon the money in thelr pockets; now, with this Ropublican currency, no man can possibly loso o dollar, [Applans: Jay Cooko mafi tail; Olows may fall ; uvnrfi Na- tional Bank In the whole laud may (nl‘; and yet the groonbuok, and the bank-nofe are soonred by bonds in the Troasury of tha United Btaton, ‘I'hoy are socured by the peoplo’s monoy, and tho poople's property, sud sil the wealth of tho conutry muat bo exhaustod Loforo & man can loso a dollar on his greonbacks, or a dollar on his bank-notes, That is Ropublioan monoy. JAY COOKE & g0, . Now, my fellow-citizous, what Wi the causo bune, NUMBER 39. of that panio? No more patriotic and no better mon over lived than Jay Cooke & Co,, take thom' oithor mumll*nr scclnll_r, or in any other way you chooso. They woro high-minded, patriotio® men. ‘They did servico to their country in tha timo of war [applauso], bul thoy wora foo san- guino. They thought the Northern Paclflo Rail« rond was o kind of a railroad to hoaven, I gucss Fuughlurj, aud thoy wanted to build it through. = Woll, my friends, it waa o bad investmont, and the whofo penic through® which we linvo gone in the Just weelk or two hag grown out of tho enterpriso of bankers and busi- noad mon nvesting largo sums of capital in un« profitablo railrond !)l'flncrt)'. That- {8 tha whole gecrot of It ; and yat, during all this time, thio bankors have ot friled beoatso thoy werd insolvont ; thoy failed becauso they conld noy roalizo currency upon their property, aud now when thoir statemonts aro bolng exhibited it ig shown that all thesa banks have asuets to pay every dollnr of their indebtoduvss. [Applauso.] Well, now, WHEN A PANIO COMFS,— and they will como nt ull timea—they come i woasons of prospority, thoy come In sens sons of advorsity, thoy come us tho thiok comes at night, still and quiet; tho most' sngacious man _cannot tell when anio comes, If ho could, it would 0 0 groat fortuno to | Whon 8 paaic comes, it comes all at onco, and ¢! lNimo le sro alnrmed. Tiverybody snapuets everybody else, and in thexs times there is no way whalover except to paueg awhilo; reflect, consider, bo pationt, careful, husbaud your reaources, and thon go on again, and that 18 oxactly what is belug done now. 1 ENTIRELY AND IEARTILY APPROVE of tho courro that has Lbdn adopted by the N tional Banks in tho Qlty of CUinciunati and ju other citios, in which thoy have mudo a kind of quasi ulmyouulon. refusing to pny out the (;:rer.t maes of thelr money to their dupositors. That in all woll cnough, " Public opinion will sustain’ the banks In doing this thing; but thoy must romombor that thoy hnve corresponds ing: duties to perform to .the poorlo. N bak moy, for its own protection and to advance the besf. intorests of tho publfc nf largo, for o time declino to moet their full oblic ations; butif they do, they must be careful. o doall their justdulyfo tho public, thow must eco THAT NO PAY-IOLL IS HTOPPED for want of monoy to pay, [Cheers from tho' workingmen]. They muat sce that no man who has money dute him for labor shall go hungry to bod. They must supply money, and the vory mo= niont tho panic subsides thoy must resume poy- ment, dollar for dollar, and pay every check that is honostly presonted, if it is proporly duo. (Applause.| Itbnnk God I can see, nlthouglh not a prophet, that TUE SKY I8 OLEARING ;, that tho panio Is over, I trust. No doubt it ia' injuring some here and there, intlicting some dnmagoes, but, my countrymsn, wo must be pre-! Em‘m} to moot these periodical panics. Tho uty of this panic, after all, 18 that it line not: hurt tho pooplo, tho_laboring masses. Tho old, Ennlca did. Now, the men who snffor are thoe! igh bankers, tho wealthy men. The peoplo’a money i {n their currency, the measure of their daily toil, and as long ns that is good thoy can, laugh and grow fat. [Choors.] I say, then, that tho Republican party, in the maungoment of your financinl nffairs, 18 gradually reducing the public debt in_gradually reducing taxes; in furnishing yon with National bauks instend of the “old State baunks; in giving you greenbaoks, Tor those remsons, as welk nd for nbolighing slavery and saving your coun-' {ry nnd putting all men on an equal “footing, it has dosorved your gratitude, ILellow-citizons, thero aro BOME DEFECTH IN OUR BANKING SYSTEM that I will mention. The fivst is that n greens baok, although mighty good, is not quite as good as gold. Now, I will never 'be content myself until the Republican party makes overy dollar of greonbacks in the {mokutn:ot laboring men nag rood ag the bost gold coin that was ever coined. know tho people aud bankers sometimes say the Government is going to contract the curren- ey, but that is ali a humbug, It is like Judge Thurmon’s specches. Wo ¢an go back to spocio payments. but we caunot go back until our money is equivalent to gold and silver coin, aud then wo have tho 'bost currency in the world, T will not debate this dificult question, but 1 tell you, my countrynion, whether you ara Domocerats or Kepublicans, that the paople of this country ought nover to cease to agitato this question until TUEIR MONEY I8 AS GOOD AS GOLD, ond then thoy are ona sure rock, an oternal foundation in all ages and in all countries, It bLas got to be an axiom in financial matters that gold” alono is tho standard of value, and the planetary laws that govern the universo are not moro fixod and absoluto in their sway than that law which domandy that overything shall be measured by tho gold standard, and the very mo- ment you mnko your paper monoy as good as gold coin, then you have got a curroucy that you mey, live by, dic by, aud leave to your childron and widows without fear or favor.” Now, thero is an- other mattor to which the Republican perty can lay crodit, and that is in the MODE OF LEVYING TAXES DURING THE WAR. Wo had to lovy heavy taxoes, We had soldiers to Imy. and, if uecessary, wo would have taken the st ehirt off the backs of the stay-at-homes in or- der to pay the ** Boys in Blue.” But since the war tho taxes liave heen ropealod nutil finatly nothing 18 taxed savo whigky, tobacco, beer, and imported goods. Wo still levy ngreat part of onr taxes on imported goods, Now, sometimes, tho tayiff ia rogarded a8 o kind of half-horse-half-alligaior that swallows children, But WHAT I8 THE TARIFF ? Tha tacift is simply o Lax on_imported goods. ‘We lavy over two huudred millions in gold. Now, my fricnde, ono of tho offcets of this is to giva s n large ravenuoe to onable us to repeal all the other taxcs, Another offect is that, by lovying this tax upon imported goods, we protect our own fudustry. We protect our own Iabor; we build up our mlmul‘nomring csteblishments, [A voico—*‘ No pauper labor!"] No, sir; ' wae want freo American Inbor, whito aud blnelk, and all on the samo footing. Now, these people sometimes toll fnu that o protectivo tariff tuxes the poor for the bouofit of the rich. No, it is to givo the poor mau, the luhur-lovluq, indopondent, frce man_ o chauco to rise. If you ropoal’ that tariff, vou bring into competition with him ' tho pauper Iabor of Lurope. While wo lovy taxes at all, wo will tako caro to put a reasonable and moderate tax on thoso articles which compote with American industry. That is what wo intond to do. If we are wrong in that, turn us out. Lot me give on 3 AN INATANCE. A fow yents ngo thero was scarcoly any iron mado in this country. In 1860 wo put a tarilf on iron, What lins bocn the result? We havomore than doubled the manufacturo of pig iron, We have quadruplad the maunfacture of railroad iron, Wo havo six timos incrensed the mauuface turo of cast iron Fourtcon years we have been iving our poople amplo labor, aud now we have, fiy domestic compotition, roduced thoe prico of those articles so that wo can compato with Grent Dritain, and ouly recontly shipments of Amorican iron have beon sout over to Liverpool TO COMNPETE WITIL TIE DIITISI IRON. Itell you tho old iron sceptro {u like all the rost of snimate and inanimato things, moving wostward, and now crowng the banner of our country, ‘Che timo i8 not far distant when we will bo'ablo to compete with England in all tho different productions of human lubor in her own markots. et THE GREAT STOOK-OPERATORS. 'VANDERBILT, QOULD, BREW, AND TRACY, ‘ From the New Yark Sun, Sept. 20, Brond street, though wholly involved in _suspousion, i in a much botter condition to-dny than s Wall strcot. The stock-brokers, though reaponeibio in a groat monsure for thn[mnle. Love succoeded in forcivg upon the bankors ity managument and control, as woll as much of the odium ut- taghod to jis continunuco, while thoy havo qui atly rotired from businoss for a sonson, and ave | endoavoring to adjust their own littlo balances among themselves, 'Tho gront oporators in Broad stroet, whose almost revkless transnctiont procipitated tho crash, aro Commodoro Vandor- ilt, .‘uy Gould, Daniel Drow, and Jobn 1, I'ra- oy, ‘Tho oporations of the last throo wore re- forred to und explained yosterday, Thoe old Commadore went into tho markot later aud moro logitimataly, flo bogan operating about tho middle of last wook, whon stocks bogan to dooling, and then avowedly only o koop his own stocks np, 1o ‘took hold of Woutorn Union Tulugrn])h utooh Inst wpring, and has sinco takon o prido in keoping it at a good figure, as ho daes all the list genorally known uy Vanderbilt stocks, Lhis stock ho had worked up to 90, whore it stood when tho Lours began thoir raid on the market goenerally. The whola mackot thon rapidly deolined, and with tho rest Weostorn Union fell'off 10 por cont, ‘Thon it was [ Coutinued on tho Lightly Daue.),