Chicago Daily Tribune Newspaper, October 16, 1873, Page 1

The Chicagn Dailp Teibune, VOLUME 27. THE TURF, EVERYBODY ‘WILL GO TO SER GOLDSMITH MAID, Gloster, and Bashaw, Jr., Trot, this Aftermoon, ab 3 o'clock, IN THE $5,000“RACE, DEXTER PARK. Cars by Michigan Southern and Pittsburgh & Fort Wayne Roads di- O1L FAINTINGS, CHROMOS, &o. OIL PAINTINGS. UNRESERVED AUCTION SALE Qil Paintings, BY Leading American and Foreign Axrtists, At 295 STATE-RT, Cor. of Yan Buren, under St. James Hotel, This is the largest collection of Pictures ever offored in Chicago, and the sale will be positively unre- served. . Also, a great variety of choice En~ gravings and Chromos, Sale will commence Saturday eve- ning at 7 o’clock, and will be con- tinued Monday and Tuesday after- noon at 2 o’clock, and in the eve- nings at 7. KLISON, POMEROY & CO. FINANCIAL, HATCHEED BANKERS, No, 12 Wall-st,, New York, ‘We make Government Bonds and Gold a specialty, buying and selling at the market. Orders executed in Stocks and Bonds, on Commission, for Cash: Interest Allowed on Deposits. ROBERT WINTHROP & CO, BANKERS AND BROKHRS, No. 18 Wall.st., Now York, oxocute orlors for STOCKS, BONDS, AND GOLD, ailow 4 prr cent (ntorost an DI- ZOSITS, and transact a gonoral Danking and Brokorsgo usiness, Anstionesrs. REAL ESTATE. Dwelling-House Property. I have several commodious Dwelling- ‘Houses, Framo and Brick, for salo in vari- ous localities, which can bo bought very low during the presont * pressure for money.” Also soveral piecos of flne property (unime proved), speclally desirable for building pur- poses. W.J. ONAHAN, 112 and 114 Donrborn-st. CHINA AND GLASSWARE, ONTAG & STAUDINGER, Offer during the Jxposition, their B e FRENCH CHINA, Glassware & Fancy Goods, AT REDUCED PRICES, 0. 160 STATE-ST, opposits Palmer House, | I FOR SALE. IVORY TABLETS, BOOK MARKS, AND PAPER KNIVES, AT WHOLESALE AND RETALL, AT COLVER, PAGE, HOYNE & CO.S, 118 & 120 Monroe-st. CONSUMERS will find it profitable to got onr befors ordering_elsowhoro, " HINDLI & JENKINS, Whclogslo and Rotall Btailonors, Printers, ‘and Tlank ol ricos nufaoturers, 165 Olark-et, GENERAL NOTICES. LUNCHES DY THE LADIES OF THE Tnion Park Congregational Chureh, Wil bo continuod during tho woek, At 172 Madison-st., near LaSalle Fmtire X111, SOo. PHANTOM POWDER. “PHANTONL” '/ Elgin's Phantom Powder.” Ladioa will find this tho olcost, whitest, softest, pretilest of faco powders, None should fail to tiy'it. * Youaro suro to bo deligiited with the BUNPARBING BEAUTY it plves to tho cumplexion. Hold by dnanhu at2and 60 cents porbox. Tho trade gupplied by Mossra, VAN SOHAAOK, STIVENSON & RE1D, Chienko. MILLINERY, Millin ing | ery Opening! MRS, WILD, having romoved to her Now Btoro, will havo lior rogular aponiing ou Fridsy aud Haturdsy, and Sollcits A 1napactiun of Sasctzont of tho riokret Novoties of the honsams 00 198 NORTIH CLARK-ST. — e NGS, Masonic. Waubansls, Lodge, No. 160, avering, sy 1% oblick har 17 Celantay A T 4! Ball for wark on the ¥, o, Visitiy broth. rea g arlied, by audes of the ¥y AL e Boes - WALL STREET. The Day Opens with Symp- toms of Grogginess, Vanderbilt Makes a Des- " perate Push. Stovks'_!ldmnco from 3 to 6 Por Cent, and Then Fall Off 2 Per Cont. Judge Blatchford Dissolves the Bird Grinnell Injunction, The Released Collaterals Do Not Come on the Market, Failuro of the Banking-ilouse of Gil- man, Son & Co. The Market Shows a Decided Improve- ment, but Closes Feverish. NEW YOREK, Specetal Dispatch to The Chicago Tribune, A DIIGHTER PACE ON TIINGS. New Yonx, Oct. 16.—The financial outlook is far bottor to-day than on either Mondsy or Tues- day, slthough carly in the dny thero was a heavy fall in values coused by more failures, during which prices fell from 1 to 8 por cont under a pressuroe of socks for cash to realizo money. Thoro was subsequentlya sudden chango for tho botter, prices advancing from 1 to 93¢ per cont. This was, in & largo moasuro, sttributable to manipulation by some of the *bears,” who cov- orod their short contracts on yesterday ab tho low pricos,'snd went long for a time. The prompt paymont of the New York Central divi- dond was aleo & causo of this riso in values, WALL STHEET COMPOSED AND COMFLAGENT. Binco this relapso, Wall streot has not presented an unusual appearanco ontwardly, Tloso denso throngs of excited and disheartened brokors and oporatora that made Wall and Broad streots and other highways in the viciuity of the Btock Exchango almost impassablo during panio weok, have not boon seen. To all extorior appear- ances business has beon gliding along smoothly in its wonted channel, with nothing to mterrupt ita course ; but ot one time there wera disturb- ances under the surface that threatened to croate as disastrous a panio as that of two weoks ago. TIIS DANGER, there is now pretiy good reason for belioving, is practically passed, and Wall stroet operators are, for the time being, free from poril—at least, as for from it as thoue who speoulato in thal orratio and unceriain market ever are. TUE NEASONS FOR THE FLURLY, ‘which an experienced broker characterized yos- terday a6 only tho flashing up of tho smoulder- ing embors of the late dirastrous panio to the surface, aro not casy to state. T'ho low prics of securities was the natural offect of tho position of stock held in blocks on which moneyhad ‘been borrowed in order to carry them. The per- sons loaning mouey woro terrified at the legal procecdings instituted in the Grinnell baulk- Tupley case,—thoy wero afrald that procecd- ings might be brought ngainst them, and, portly from their need of money, they began with " determination and onflrgi to place thewr lat:mku beyoud any injunction before it was too ato, It has been the caso in sll {mnlcs and money stringencles that to roalize large amounts of mouoy was next to impossible, Tho rapid throwing of stocks on the markeb the past_fow dnya has not given time to buyers and real investors to come into the market as purchasere, Tho extensive publication of the recurrence of tho_panio attracted large numbers of visitors to tha Exchangoe, with the object of - ‘! SEEING THE OIIOUS in full blaat. With the beginning of regular irausactions camo a rush to sell stocks, particu- larly those knownas Vanderbilt specialities. Prices, unablo to withstand tho pressurs, fell, and wild excitemont ensued, New York Central dropped from 85 to 82 ; Harlem, from 103 to 100; Erio, from 453¢ to 343§ ; Lake Shore, from 603 to 573 ; Wabash, from 86 to 828 ; North- westorn, from 84 to 82 ; Rock Island, from 82 to 81 ; Ohio, from 22 to 21}6; Union Facific, from 168{ to 15¢ ; Western Union, from b5lto 456; ond Pacific Mail, from 26 to 26, THE FALL IIURTS ONLY TWO FIRME, It was naturally expected that numerous fail- ures would follow on tho heels of suoh & crash a8 this, but, to the general eatonishment, only two wore announced—W. 8. Perry, u small denl- er in Broad stroet; aund Gilmam, Son & Co., bankers, No. 47 Exchango place. EVIDENOES OF RETURNING CONFIUENOE were noticeable at 1 o'clock. Oue reason as- signed for this was that, the decline having been caused by liquidations. on the part of stock brokers oud others, pricos had reached their natural basis or intrinslo valuo, and they must now renot. Theso viows wers aided Dy tho pay- mout of 33,600,000 of New York Central divi- dond. It was nlso nagerted that COMMODORE VANDERBILT bad from neccessity bocomo an active ‘‘hull” oporator in tho markets ond, ns ho would draw dividends on sbout 530.000,000 ‘worth of Now York Central which belongsto him, this money would bo used to clevate the market. It was further stated that ho had disposed of £10,000,~ 0 worth of New York Central & Hudson socurition at 75 to German bankors, and that ho would use this sum as & basia_for builling the market, partioularly Central, Lake Bhore, iflstn orn Union, and othier of his own soouritios ; and that ho would pay the $1,780,000 loan to the Union Trust Company. DISSOLUTION OF THE INJUNOTION. Although these statemonts and rumors hnd their offect, they were of littlo importanco as compared with the subject of the dissolution by Judge Biatchford of tho Grinmell injunction, which was repoatedly aflirmed and denied on the stroot. Whon the truth of this was eventually established, thoro wore fears that the 100,000 shares of stock lhold for tho account of Grionoll would be thrown upon the market in a blook for renlization, and thus create anothor panio but, to the great surprise of all, this did not take placo, Boon it became known that tho Vandorbilt people had mado arrangements with thoso baukoers pud brokors who leld tha stock to carry it over at least for the present, Allthis caused A BEACTION, and, through the skillful managomont of tho bulls," prices which had appeared to bo in di- rect routa for zera recovered, and rose with & rapidily almost as groat as that with which thoy had fallen, The grentest improvenont was in Lnke Bhore, Westorn Union, Harlom, Panama, Delnware, Lackawsnns, Western, Now York Contral, Rook Taland, Wabash, and’ Pacifio Mail, T.oke Bhore, which 'foll off from 613¢ to G734, advenced to 67, and reacled to 658{ ; Wostorn Unlon, which lil deolined from 61 {o 46, rose to 643¢, and {inally eold at 5314 ; Harlem from 100 ronched 106 ; Panamu roso from 80 to 86, and Dolawaro, Lackavanaa & Westorn froms0 to 863¢; Now York Central sold at 8?{@8“%: Rock Infnand at 87@B5@BTIH{@EC) ; Webnsh at 898@305¢ ; and Puclila Mail at BLI{@3034. ANOTHER RUMOR ADOUT LAKE HHORE. In nddition to other storics aLout Vandorbilt stocks, there was a rumor that the Lake Bhoro Tilway wonld pase its noxt dividond,—i, o., fall to pay {t It 14 also reported that, in ordor to taka np the Union Trust Uompany's loan, pay 1is floating indebtedness, oto,, tho Compauy would offcct o new mortgago, Nouo of theso rumors, however, could be traced tos good toundation, 2 . TUE FAILURE OF GILMAN & EON, The suspopded frm of ‘heodore Gllman ine CHICAGO, THURSDAY, OCTOBER 16, 1873, forms Tng TrIDUNE roportor that the suspension of the houso of QGilman, Bon & Co. was duo toa continued drain on their monoey supply by do- nosilors, the non-payment of leavy sums duo the firm, nud the rapld depresiation “in soouri~ ties, ete., In thoir hande, Mo bolloved the firm outfuly solvent, and eafd they would pay all drafts againat remiitances. W, 8, PERRY was only a small dealer. Ilo was onrrying moro stocks than lio could care for, aud Was thero- foro obliged to suspond. [To the Astoctated Press.] A MORE PROMISING LOOK. New Yong, Oct, 16,—In_rogard to the banks, it mny bo stated that tho situation is improviug. They aro confining thomselyes to a logitima bueiness, are not linmpered by stock opcrations, and ecurrency iy coming Into” tho city from the country in consideruble quantities, A metnbor of the” Governing Committoe of the Btoclk Ex- chango eald this afternoon that he thought all dangor of furthor financial disturbance was now over, and that the banks haa nover been in g0 ood o condition sinco tho panicas at prosent. Lio few small eusponsions yestorday and_to-cday hould not excifo any approhonsion. Ho bee loved that all the houzea hnd succnmbed which wero liliely to, and tlint confidence among busi- nosy men would rapldly iverease. HCBUMED, Mesora. Brown, Wadsworth & Co. have ro- sumed business, ' They have notiflad the Stock Exchaugo to thet effect, Thin is tho first private bankin® firm which suspended during tho re- cent panio to resume. THE GENERAL SITUATION. The Post snys the situation to-day is as fol- lows: At tho Clearing-Houso roturns of tho Dbauks this morning show au important gmn in legal-tender notes. Thero s no chango in loan cortifieates, and thoro is likely to be no contrac- tion of lhem ot present. Trom up-town mer- chants the advicos to duy are good. THE LARGE DY GOODS FINME, ¢ which, in the genoral unensy feoliug, have not ercaped unfavorable rumor, aro, wo are assurod, strong. 'Their collections are fair, and if they woro not um{ havo the suppoit of tho banks, whose duty it i8 to carry through morcantils firms which aro sound, and whose only embar- rassments arise from tho temporary disuse into which the ordinary methods of basiness aro thrown by the panic, AT THE PRODUCE EXCIANOR business is good, that dono yesterday in bread- stufls baving beon rathor above the averago. On good sutliority wo aro told that, at the regu- lar scesion yestorday, snles of brondetufls amounted to ‘abont £825,000, of which $500,000 were of whonat, $125,000 of flour, and $100,000 of corn, &3 INVOLUNTARY DANRLUPTOY. . George Bird_Griunoll & Co. to-dsy filed a pe- tition to be adjudicated baukrupts. This pro- ceoding supersedes, sud virtually terminates, the procecding instituted in involuntary bank- ruptoy by Honry Myers. s R VIEWS OF THE FLURRY. Special Dispatch to The Chicago Tribune, New Yomk, Oct.16.—John Thompson, Vice- Preeident of the First National Bank, made the following statement yestorday, in answer to tho quostion as to tho cause, length, and probablo offect of the relapse: I believe thatins fow days all eolid stocks will be taken up and an es- sentinl advauce on to-day's prices will bo real- ized, I have confidonco that this panic will Dblow over moro speedily than any other panic of its magoitude, My roason for this belief is based E!lnaipally upon the fact that none of the monoy or curmniy of the conutry has depreciated in value, The $7.500,000 in greenbncks, National Bank notes, and fractional curroncy are all Intact, beside gold that has come, #nd is ocoming, from Europe. In nll former cases the diuastor of tho country was added to tho usual money stringency, and banks were o great doal moro likely to fail whon run upon for the redemplion of their notes than they are now from the demands of dopositors. Itis in this peculiar position of our proeont currency that, o my opinion, lica the foundation for quick and snccessful roenecitation, It I8 hardly possible that we shall not hinve a suporabundnnce of monoy with- in exty days, for one-balf the firmns of the coun- try have, for tho time being, cut down thoir busincss, A very large portion of payments due are doferred, and the curroncy of the na- tion, when it comes out from its hidden places, will bo moro than the business of the country will require. 8till, it would be unressonable to expect prices to uesumeo their former status, The bonks, with Fey fow ‘oxcoptious, are in o sound condition, Their doposits aro remaining staiionsry, and curroncy is flowing into the cen- tral cities fastor ‘thou it is ordered out. The bauks m this it Lave, .In four weeks, liquidated thoir ) doposits from $207,000,:00 to $116,000,000. To do this thoy have parted with ubout £80,000,000 resorve ocwrrency, and contracted on loaus and disconnts something over 380,000,000, This Jiquidation is, I believo, abuut ended, although I Blhould oxpect no oxpsnsion at present, and I beliove that the banks will({trow stronger. ‘The most dircot and legnl relief to thoe monoy markot, and in aid of the movement of the produco of tho ma- tion, would bo afforded by Govenment issuing gold mote currency, based upon gold, which might be deposited in tho Sub-Trensury in small denominntions suitable for circulation in the West. It is ovidont tomy mind that, during the fall and winter, £75,000,000 of such currency would be taken into tho mterior and used in moving the crops. - Seventy-five mill- ions would bo realized from this gold curreroy, in my opinion, ns follows: The imports of gold {rom Europoduring thefalland winter,Testimate, will amount to 60,000,000, The gold notes of Iargo donominntions now outstauding would bo taken in aud oxchanged for !mnfi notos to tho amount of $20,000,000, and $5,000,~ 000 of Joose gold now Leld \ould also flow” into tho Bub-Troasury. Against all theso receipts, small notes could bo Issucd and used as cur- rouoy to move the crops. You may wonder ‘where all the moneyis, I will tell you, The . country banks, city and country eavings banks and trust companies aro locking ug_: great deal of mouey to their own dolriment. In ropeated instances, when dur correspondonts have come to us for ossistance, wa have askiod them how much currency thoy had locked up at home, and we have beon astonikhed to find that many of them havo three times tho amount of curroncy which thoy thought necnuuu? to koep boford the panic. Invariably we told_thom to sond a portion of that ourrency forward, and when thoy really wanted cwrrency, to tolograph to ue and we would sond it to them without fail. If all tho banks in the country would adopt thiese measures, [ beliove §20,000,000 would be tho fruit of the movement. Muchhes beon said about tho savings banks locking up currency. I can't Lolp thinking that the savinga banks, in locking up an uudue amount of curronoy, commit finan- cial suicide ; for, by so doing, they deprive em- ployora of the means of mucdng lflulr pay-rolls, and if labor is not pald those dependent on Inbor must, and will, have their depowits out of the savings baoks, AN ANONYMOUS OFINION, Tho senior partner of ono of tho largesat bank- ing firms in tho oity, who desired his name should not be montioned, oxpressed to-day tho followng views on tho financial relapso: Tho flurry was caused by tho unsettling of all confi- doncoe among operators. Nobody would lond money at 7 per cent “whon thoy might bo sorved with an injunction at any minute restraining them from collecting it. 'Tho action of Griunell & Co. started tha wholo tronble. Man can buy stock to keep at o nominal price just now, and they ara doing to with their monoy instond of lend- ingit, Youdonot find so much wild spocula- tlon in stooks as ono would auppose, Moneyed men are not speculativa; thoy aro buying to keop, The furry is, in fact, & lealthy move- mont; for, while'it may hurt a faw individuals, it bonefits tho gront mass of commorvinl poople by bringing stocks back to hard-pan value, and puttivg thom in tho hands of peoplo who intend to hold them, Professionn! car- riers of stocks should bo compolled o sell out ot the prosont low rates,—all the botter for the great mass of tho poovlo, T'urthor thnn that, thore 18 no reason why Wall stroot should affact tho_solid conunorelal iutorests of tho country, It docs go only through the eort of sympu |IE that nll business mou feol for eaoh other, Dry-goods men, ratuilors, importers, or wmnnnfacturors ought not to be aifectod by every fluery *in - exchangs, When we como to hard- pan values, wo will have su ond of these flurries, and tho Btook Exchange should hasten the time of its arrival, for its own pgoad, No mwmn ean prediet the prospects of to-morrow. The body must purge iteelf until is clennsed, ‘I'ho “fhury will koop up, I think, until every inflated concorn on the Ixchauge List is suspended or brokon, and solid values of stocks agnin reached, Rosumption of spocie - payment will not be likoly to result, ‘Lhereis 4 cent for small lots, and in loss conmneotion betivoen that possibility and the pauic now than at tho fist, JAY GOULD oxprossed thin ovening tho following views as to the cause and offcot of the panic. Tho cause of the troublo in stooks durivg the last fow days, and tho cousoquent revival to some oxtout of tho rocont punic, ia duo to tho salo_of stocks of Goorge Bird Grinnoll & Co. Pricos aoon aftor improved, but not for o period of ton yonrs have stooks bocufsold 8o low e to- day, 1t was golden o‘ppommuy for invostment, and thoso who soized it could not fail to make fortuno. I dou't know nxunll{ who the heavy buyers have been, but think it probable Comi- modoio Vanderbilt may have tnkon n fow shares, 1 hiave mndo a littlo vouturo durivg the day, I bought quite s number of shares of Wostorn Union from 40 to 6/, which Yanderbilt mon said woro oheap at 90, It is tho cliancs of o lifa- timo to buy now, and thora will . be hundreds in sixty anys who will bo calling thomselvos fools that thoy hiave not purchased. Now I goo 1o cause for o poasic. Wo are in o stronger condition to-day than on nny other, Tho crops are immenso, and the railronds aro dolug o very largo busiuess, It is in England, not Americn, that thero is cnuze for alaim, Thevo ia just as much money to-day as over, In Novenibor 812,600,000 inteiost will ba duo ; 87,000,000 alrendy duo are now nalni; paid. Nov, 16 thoro will be $100,000,000 call loans, and thero aro $10,000,000 tu@lb,ol}o,flbflcomin from Europo liero, Tho consequenco is, that in No- vembor at tho Intest, there will bo an abundance of monoy uniess thore should como. a crash in Iurope to eall it homo. Tho unensiness which has for o many dnys boen felt in Wall atrect is unquestionably sproad- ing throughout tho country, and affecting to o gnmtor or less oxtent business of overy kind, The end is not {ut ccoms,though in Wall street, T imagine, the diffoulty is now virtually over, Wall streat, which was the first to yield, will likowise bo the_first to recover, but oven then confidence would not be restored immedintoly. —_— MONEY AND PRODUCE. Special Dispateh to The Chicaao Tribune, New Yong, Oot. 15,—Money was _very irrogu- lar, and closer than on yeeterdny. In some cares ‘brokers accommodated each otlier at 1 per cent, but the bulk of the business was at 4@ per s0mo casos J¢ percent was paid for round Iots, Somotransactions wore rumored at 734 per cont and intereat for sixty days. Qold was moderately active, prico declin- ing from 10934 to 108%{, closing at 108%{. DNEADSTOETS. Owing to vory light arrivals of wheat,the grain markotis botfor, with good inquiry to il Eng- lish ordors. Millers are buying to some oxtont. Tho markot closes irregular, but fairly adtive, with & demand largely for primo qualities to complets cargoes, Wintor Wheat is firm and lesa plonty. Tho flour market is tame and unsottled. The stato of tho monoy market and the depression in exchange upscta values, and thoro is great ir- 1ogularity in prices. Demand for shipping ex- tras is limited; trado and family grades are in moderate demand, At the cluse, the markot was oasier for moat grades under GS‘.OD. FUEIGITS, There was fair movement in borth freights, at casentially unchanged rates. Vessels for charter are loss Bought for. —_———— BOSTON. Spectal Dispatch to The Chicago Tribune, Bosrox, Oct. 15,—There were rumors and ro- ports on the atreet to-day of the failuroof oue of the largest money lenders and real estate owners in the city, not through lack of property to equsl and far surpass all his linbilitics, but through his inability to get curroncy without submitting to an oxorbitant shave for it. TUE SPECULATION IN GREENDACKS continucs, "The banks still hand the certifieatos over their countors to many of their callers in- stead of tho ourroncy, and tho tightness in monoy does not lessen. Theroe is no disguising the fact that all classen of busineus are fooling the efect of tho money aquooze, and somo vory seriously. All aro not so sauguine as to look for a chango aftor tho banks have mot tho de- mands of the manufacturing establishments for money n fow days lhouce, yoferred toin last night's dispatches, tlxoufih many shrowd, clear- houded, nud forcsighted men predict, with tho utnost' confidence, that within sixty days money will be & drug in tho markot, At _presont things atill lhave & bluo tinge, and money 18 no drug. Men ab evory turn soem to be engaged in A GRAND CHASE AFiLL MONEY. Tho workiug peoplo, when paid off, tuck their money away. AMany who receive currsncy in payment of notea aud Intorest on mortgages storo it away. They are suspicious of the bauks, aud trust no sort of security for the momout. Country moerchants withbold all tho currong they possibly can, demnuding timo on purchases, giving notes or paying in certiticates. In the savinge bauks, too, thero is o large amount of mouey packed awsy. Dur- ing the height "of = the auio many depositors in_the National suks withe arow their doposits, as wns thon stated, and placed thom with' the savings banks, A lurge portion of theso arostill in the savings banks, wheve thoy are practically locked up. Just now AN INPROVED ORDER OF THINGS is coming about hore, though no oue soems able to say why. Bo soon as the condition of the curroioy chiauges, busiess caonot fall to bo ood, It does not scem to bo the fuct that any market hore is ovorstacked. Thora is as healthiul a do- mand for boots and shops a8 ever. The market for cotton goods is ouly fairly stock- ed, sad in other markels there are no indications of over-produstion, The groat firo in this city wiped out a quantity of goods which is not yot roplaced. Al brauchee of business aro prepared to take advantage of o favorable wind as 8oon ag it eprings up, and if thoro is & chango before long a good winter is ahead. P ——— PHILADELPHIA. Special Disputch to T'he Ulicagy Tribune, PrisaveLrta, Pa, Oct. 16,—The monetary stringoncy seill continuos, and bué littlo signs of omrly” relaxation are apparent. ‘Lhore is as muoh difticulty in obtaining currency for specu- lative and other purposes as hovetoforo, Dis- counts nnfiu botwoou 134 to 2 per cent a month, and ready borrowers aro Tound a¢ theso rates. Govornment bonds fluctuate much, prices rating lowor than yosterday. The baunks have again failed to issuo tho weolkly statomont. MUGH EXQITEMENT was caused on "Cliangoe this morning by the re- coipt of & Now York dispatch aunouncing several failures there, RESULMPTION OF SPECIE PAYMENT, Merohanty hora anxiously look for tho re- sumption of specie paymeuus, hoping that mat- ters will improve thereby. aoLp opened at 108%¢, advanced to 10934, and closed a6 1084, ITEMS FIOM THE MANUFAOTURERS, Mossry, Wood, Dinlogue & Wood, of Kaighus Pount, pald, yencerday aitoruoon, thew hunas in gold, without deduction for premtum, Hamilton Disston & Hons, saw manufactur- ers, will resumo work on Iriday, paylng full wages, Mestrs. MicLellon & Bexton's Tron Works, woro soronaded to-night Ly thoir workmen, in consoquence of the uunouncement that theie woulil bo no reduction of wages. * In-fartisburg quito & number of ostablish- mouts contiuuo running on short timo, The order systom has beon adopted at many places, but with much complaiut by employes. At ono or two lorge establishmonts proposals havo beols made to omployes to take wages in coin, Of courso thoy aro willing, but thus far no changoe has takon place, Iu Chestor the mills of Goneral Robert Pat- torson Lmvo suspendod through the presont ::.lxil‘ngenoy. Boveral othiora will shoxtly follow S — DANIEL DREW. Trom the New York Sun, Oct, 14, A potition was illed u the Unitod States Din- trict Court ou Baturduy to bave Dunlel Drew ad- Judicated an nvoluyiary baukrupt, An injune- tion wua issuod by Judgo Bintehiord and sorved on tho iwillionnire upesnlutor yescerday, ro- strafuming him from assiguing or aisposing of his property while the ewm is pending, Tne pe- fationor'is Mr, Willism 1, Beott, ot Budo, 'a., o brotior-ln-law of Johu I, W'yuoy, tho railvuy mug- unte of Tilinols, ‘Lhe proccedings grow out of tho wusponsion of the well-kuuwn Wall sireol banking firm of Kenyon Qox & Co,, which Liap- ponod & fow wooks ago, Mr, Draw, it is sald, wis ono of the genoral J"mmm in tho house, al- though 1t way clalmed nt the timo that Lo was only a spuqln! partnor in it to tho amount of #100,000," The susponslon was cuused by the fle’s having tudorsod $2,200,000 of tho bonds of tho Cannda Houthern Railway, and failing to meot 8185,000 of tho bonds on the day of matur- ity. At the timo the domand to redeom was mndo tho firm had §600,000 of othor obligntions which would all have fallen due in thirty days. Mr, Kenyon Cox nnd two athor partnora in the firm aro_incorporated in tho bnnkmgtcy suit, which is based on an afidavit of a Mr, Beott that Mr. Drow was about to put his me‘urty out of s hands to conceal it from_Lis creditors, so as to anablo hum to swonr that ko could not pay his debts, Tho injunction Is_made returnablo on Saturday noxt, whon Mr, Drew and tho othors aro to bo roquired to show why they should not Lo declared bavkrupt, Ar, Beott's action had & foverikh eifcct on ‘Wall strect yestordny, and almout threatened to reproduce tho exciting sconca of the panio, Many persons wondered whethor it could Lo truo that Uncle Dantel had been sccrotly dis-, posing of proporly so as to cacapo rosponsibility for the linbilitios of Kenyon Cox & Co. Bome clalmed that the uhnrfuu ngalnst him origiuated n his relaeal to aid the flvm when it was on tho verge o suspension. . Mr. Scott, tho potitionor, uaid last night that his suit was for about $860,000. IHo doposiled thot amount with the firm, who wero his bavk- ara, His complaint alloges that Mr. Drew has mortfngud his private residence at Boveutoenth streol aud Union Squara to his grandohildren for 9250,000 since the failure of his flrm, aud that io claims to Lo indebled to them in that amount. NMr. Scott bolioved that the mortgage wag made to enablo My, Drow to defraud lis creditors, Ho said that Mr. Drow was genoratly roputed to be worth from 0,000,000 to $10,000,= 000, . Ie is tho posscssor of Inrge tracts of land in Westchestor County, and also_holds over £1,000,000 worth of stock in the North Rivor steambont companios, besides owning the Diew Theological Seminary. The mansion in which ho lives is n fortuno in itself, Amoug Mr. Beott's chargos againat Mr. Drow is one that he Boorotly dlu‘\oued of somo of tho nsscts of the firm without their knowledgo. It {s allegod that they carriod a larga line of sccuritica for bim, and wore compolled onaccount of their de- cline to put up heavy margios on them. Aftor tho suspension Mr,” Drew, ro Nr. Scott says, wont around and took up the loans on tho securl- ties unbeknown to his Xnmum. Repeated at- tempts wera mado to find Mr. Drew at bis house in order to learn what trath there was in the chargos, but he was reported to be out, A ru- mor prevailed that ho had gone to consult couns sel about the suit, AT WASHINGTON, Bpecial Dispatch to The Chicago Tribune, DRAFTE OF TUE LEGAL TENDED RESERVE. ‘WasninaTon, D. C., Oct. 16.—A fraction over $500,000 more of the logal tender resorves was prid out by the Treasury vestorday, making over 4,000,000 thus far taken from that reserve, Outstanding legul tondere, $360,002,888. ol ST. LOUIS. Br, Louts, Oct. 15.—The Directors of tho 8t, Louis National Bank to-day instruct tho Prosi- dont to take monsures to call a meoting of the mombors of the Cloaring-Houee to discuss tho feasibility of immediato rosumption of currency payment. Quite a number of bavks are very anxious to rosume, and are smd Lo be willing to assist any bank that oan show itself entirely solv- ent through nny run which may result from re- sumption ; also carry the Olearing-House cor- titicatos aftor Nov. I, should there bo any ne- cossity, Itis now understood that ton banks to-morrow will make the proper application for & moeting of tho Clearing-Iouse Association to consider the matter. ‘Thoy will press rosump- tion strongly. If thoy fail, it is by no meaus cortain thoy will not withdraw from the Associ- ation and establishive a Clearing-Houso of their own, and rosume at onco. s OINCINNATI, OrvoryNars, 0., Oct. 15, —Banking matters work'soothly and satisfactorily. A fow bauks to-day roport a littlo henvior checking than on preccting days sinco Monday, when thoy ro- sumed, but in the main no'extraordivary de- maunds have beon mnde since their full resump- tion, The good results to the bauks thus far have fully veritied the predictions of those most favorablo to resumption. S S LOUISVILLE. Loursyitrg, Oct, 16.—The pnymaster's car on tho Lonisville & Nashville Railroad started out to-day to pay along the live. Tho dolay of gov- ersl weeks in tho monthly payments bas caused » grent deal of embarrassment to employes. Tho lenvy amouut of interest duo and paid by Lhe Compuny has caused an unprocedented dolay. s ot CLEVELAND. __ Spectal Disnutols to the Chicago Tribune. " "CLEVELAND, OCt, 15.—The finaucial” sitnation fe fayorable. '‘Fhe bauks are not sitected by the recent brenk down of stocks in New York. —_—e ABROAD, Lonpoy, Oot. 16,—Unfavorablo ramors from Ameriea aro afloat in tho Stock Lxchange. It is reported that the failuro of several brokers, causod by tho decline in Erie, wlil bo-avuounce in tho Stock Exchange to-morrow. Ono hunredand iifty-five thousand pounds sterling, in bullion, was shipped trom Liverpool for Now York to-day. Loxpox, Oct. 16—b6 p, m.—Tho unfavorablo condition of trade in the Unlted States, and its. supposed influence on the business of Lrio, flat- tens tho market for Erie shares, The amount withdrawn from the Bank of England on balanco to-day for shipment to Egypt and Donmark was £98,000. The rate of discount in the open mar- ket for threo months’ bills was 63§ per cent, or 16 below bank rate. FraNgronT, Oct. 15.—Five-twenties of '62, 963, i’Ams, Oct. 15.—Rontes, 57f 40c. INTERNAL IMPROVEMENTS. Micoting of Patrons of Rusbandry of States of tho Mississippl Valley to Bo Jiold at Keokuk Fo-day., Special Dispatch to The Chicago L'ribune. KEeokuk, Ia., Oct. 15.—In cowplinnce with a call issucd some time since by the Executive Committeo of tho Iown Btate Grange of the Patrons of Husbandry, tho Executive Commit- toos roprosenting tho States of tho Missisaippl Valloy will meot in this city to-morrow. The subjeots of choap tmns%qdauon, tho improve- ment of the Miesissippi River, and other mntters of interest will bo considered. Tho following is a list of tho dologates who arrived to-day : Konsas—I', H. Dumbaunld, of Jacksonville Chairman of Exccutive Committeo of the Btato Grange, - Towa—Spencer Dnr. Marshalliown ; I P. Buchanan, Mount Pleasant; and FI. T, Elliott, agout of tho Towa Siato Granga at Chicago, Tllinois—Alonzo Golden, Rock Falls, Master Btato Grange. Minnesota—Thomas T. Smith; 8t, Paul ; Jacob 8. Donnian, Winoun ; and F, Brand, Taribault, lzlinanuxi—\vulium M. Duun, sod William B, Prico| \Vm'consin—JohuWanwr, Jr,, Prairie du Sno. Additional dologntes from thoso and other Btates aroexpoected to-night. RAILROAD NEWS. The Unfon Pacific Terminus Suft, DesMorses, In, Oct. 16.—The mandamus sult against the Union Paclfic Railrond Com- any, to compel it to_oporato il road as a con- rinumm live from Ogdon to Ceuncil Bluffs, will como boforo Judgo Dillon ot this term of tho United Statos Gireuit Cowrt, Nnle of Iailrond fonds Abrond. Dusuque, In, Oct, 16,—~J, N, IIlIL, the Treas- wior of tho Chicago & Atiantio Reliroad Com- pony, n rosident of this eity, received to-dny & cablo telegiam from Loundon, aunounoing tho #olo of tho bonds of the above rond. nmounting to §7,000,000, 'T'hta finuncial aid insures tho enrly complotion of the road. " OBITUARY. Capt, Hlart, of Buifalo. Speciul Dispatoh to Lha Cldcia Tribune, Burravro, Ue, 16,—Capt, Asa 1lart, o ploncor of Wantorn New York, died thus evening of bill- fous colie, aged D yonrs, ———— SUICIDE, Specinl I)iflgutch to The Clicago Tribine, Dixon, U, Oct, 16.—Ileubon Fastwood, an old oitizen of this placo, shot himsclf this fore- noon tkrough tho lead, ouly lving & fow momensss "THE ELECTIONS. A Republican Panic in the West. Probable Election of Vale, Anti- Monopoly Candidate for Gov- ernor of Iowa, Probable Defeat of Gov. Noyes in Ohio. The Legislatures of Both States Anti- Republican. IOWA. CONSOLIDATED RETUIING DY COUNTI®S, PRESIDENT, aovERNON, . Grecley. Grant, 211 767 1M 0,039 16,520 Grant's majority 10 1872, 0u00ee0ne In 43 countles, 1873, Carpenior abi THE LEGISLATURE. Tu the Senate twenty-clght members hold over for two yonrs, noarly all Republicans, and seven- toou of them accounted (by the Burlington Hawk-Eye) as ** owned by monopoly interests,” Of the twenty-two Benators elected this vear, one is for an unexpired torm of two yoasrs, an twenty-one hold for four years, The returns indicate clectiona to the Sonate as follows: Opposition, Republican, Lee County. Des Moinea County, Vun Buren., onroe, eto Reokul,, Madison, Adare, cte I e El 13 The Houso in the Iowa Legislature numbers 100 members, and is elected under a new appor- tionment, The lust Housa stood: 78 Repub- licans, 22 Democrats. Returns indicateelections 2 follows: Republican, DesMolnea County, luclk X Benton (divided). oty o o , et Franxiin, oto, Howard..., 43 62 153 o a9 El el = orer o Listow iy Spectal Dispateh to I'he Cliiengo Tribune, McGneaonr, Ia., Out.16.—In Olayton County tho eutiro Libaral tivket is elected with, por- haps, the excoption of one Reprosentative. ‘Tho Bhorl Iy oleoted by 500 majority, Wenneshiok —TFausk, Liberal candidate for Sonator,s proba- bly oleoted ; and tho llepublican Representa- tives, ‘'hompson and Logan, aro clected, How- ard--J, ', Batheny, Representative, Ropublican, IFloyd—1, O, Oiapin,” Reprosontative, People’s tioket, Bremon—Lewis Oaso, Ropublican, Rop- soutative, Butler—Nissoll, Itaprosentativo, Peopla's tioket. Tubuque County—D, N, Coaley, Houater, Poople's Licket. Fonrelgmn Bouators inl Dintriot—Andy clt, probnbly elected on Poo- ple‘sfiuukut. Tranldin County—Lahey, Ropubli- can, Roproseutativo. Blaokbawk—iller, Grau- wer candidato tor Bonator, special Lisyatch to I'he Chicaga T'ribune, Ki1Load, 1n., Oct. 16.~Thin town gives the Etnltsn Ropublican tickot & mojonty of from ¢ to18, Specinl Dispateh to The Chicaco Trfoune, Des Moises, In., Oct, 16.—1he Anti-Monop- olists of this county bave eleotod thoir Beuntor, ono Noprosantative, the County reasuror, and tho prospact is claimed to bo good for & majority in tho Stato Logislature. ‘Tho Republioan majority {n this county on the Btato tickot will bo about 800, The !\t(ht was flerce botween tho cliquey In this county, and the soratching was NUMBER 56. Fonerll and promisenous, TFrom latest returns, be Ropublican majority in the Btato will be oabout 20,000, Swectal Dispateh to The Chicaao Trivune, Manenao, Oct. 15 —~The entiro Anti~ In., Monopoly tholet 1 elaoted in this county. Spectal Dispatch to ‘The Chicapo Tribune, Newrow, In, Oct. 16.—This city glves ths Ropulicas Stalo tickot about 60 majority, s Ko- publican losa, Special Dispatch to The Chfeago Tribune, Wivzon, In., Uct, 16,—This town gives tho Re- R{lblicnn Binte ticket 26 monfority, Thoe Anti- onopolist connty ticket provaila, Spectal Dispateh to The Chicago Tribun, Tama Crry, Ia, Oct, lfi.—lu”’l‘nmn ¢l‘}mm tho Anti-Monopoly ticiet is ahoad, State an coum‘.{. The whole Republicun ticket s de- foated, a gain of 1,200, Spectal Dispateh to Tha Chicano Tribune, Des Morves, In., Oct. 16—12:20 p, m.—Tho Slate Register (Ropublioan) lins, up to this hour, full returns from thirty-six counties of this Blate, and moro or less doflnite’ reports from forty-four other counties, On the thirty-slx fully roported countfos, thors is n reduc- tion in the Republican majority of 11.057, ns compared with Carpenter's vote In 1871, The samo ratio of reduction throughout tho State, which now appears probable, will roduco tho total Republican majority to 16,000, & loss sinco 1871 of about 26,000, DMany counties are closo, and tho result will not bo lncwn positively till tho oflicial canvass is had. Lha, Anti-Monopoly ticket has swopt tho flold in such’ strong Republican counties a3 Mndison, Warren, Dallas, Union, Adams, nnd Btory. Honry. County, tho homu of ex-Senator Harlan, it teduced from 1,200 Ropublican majority to 15,000 msjority: Mahaska from 1,100 t0100; Jasper from 1,800 to 600; Clinton from 1,150 io' 5. o Tho Ant{-donopoly pacty will undoubtodly bave & mnjoiity in the next finusu, ond the Ro- r‘nbhennu will have & majority in the Senate.’ Tha Allt(-llunupb}lv Benatur is probably eclected in the Madison and Dallan District ; and Mitchell, tho Anti-Monopoly candidato for Senator 1n this, the nn?hn.l connty, is elected by 400 msjor- ity. In this county tho Anti-Monopolists also oleot Treasurer, Shieriff, and Suporintendent, In Henry County, West, Republican candidato for Sonator, bay only 13 mnjonity, In Wapolo, Dixon is clocted over Caldwell, Republiean. In Btory, all_tho Anti-Monopoly 'county ticket it olecied, Burnett s clocted over S{ockur, Re- publican, in Bonton County. Special Diepatch to The Chicago Tribune, Towa 017y, In., Oct. 16,—The result of yoster- dny's election in this county is best expressed by one of tho Republican candidatos, who, upon boing asked if ofticial returns wore in, replied that enough wero iu to show couclusivaly that thoy wore *scooped.” Tho Monopolists' ticket met with o vory cool roception, their candidute for Bheriff receiving but 7 votes in this city. Tho only Ropublican elected was Dr. Hemy Murray, Coronoer. The Democracy are jubilant, and the more sanguiuc cven entortan hopes that Carpenter will bo defeatod for Governor. Newror, In., Oct. 16.—Oflicial returns from soventeen out of nineteon townships in this SJM or) county indicate a total vote of 2,050 or Carponter and 1,700 for Valo; Republican majority, 850, boing'a Republican loss of 1,600 over the vota of Iast year. Iowa Orry, In., Oct. 16.—The eontire Repub- lican county ticket is badly beaton. Paul and Hovdman aro cloctod to the Legisiatuie, and Palmer, for Auditor ; McOadden, for Shenfl; aud Bwisher, for Troasurer, have large majori- ties, na have the three County Supervisors. L'ha Anti-Monopoly Btate ticket has 300 majority in the county. McGnreaor, Is., Oct. 15.~Dofinite - roturns from Clayton'County cannot be had until mom- ing. Tho goneral rosult is known to be largely Liberal, The entire Liberal Clayton County ticket is olocted with the oxception of one Rep- presontative. Shoriff Benton, Laberal, i eloct~ ed by 'over 600 majority. In Winneshick County, Foust, Liboral, for Sonator. i alectod. Republican llopresentatives ‘Thompson and Hagar, elected. Howard, Floyd, Butlor, and Dubuque Connties and the Forty- eighth Senntorial District sll carried by the Liberals, Bremor and Frauklin Couuties clect Tiepublican Represontatives, Black Hawlk elecls Miller, tho Grangors’ candidato, for Seuator. Tho oflicial returns from Winnoshick County show a l'(anblicnn loss of 200 to 800, tho Re- publican ticket belng defeated by 60 to: 100 mujority, Tall ofiioial roturns will* bo recoivod by noon to-moirow. ArtoN, Ia., Oct, 15,—Reports from Mount Ayr, Ringgold County, state that Johnson, Auti- Monopoly Roproserfative, is 260 abead of all. The Republicun_county officors are olectod ox- cept the Treasurer, Crpan Rarivs, In., Oct. 15.—Later roturns to the Chaivman of the Republican Stato Central Committeo do not indicate any change in the firsk estimate mado of the Republican™ majnrily in tho State: Adama County gives 95 Ropubli= can'majority ; Black Hawk, 1,000; Carroll, 150 ; Cedar, 500 ; Chorokee, 700 ; Clinton, 500'; De- catur, 150: DesMoiues, 500; Fuyatte, 500 ; Graoto, 250 ; Henry, 1.000; Howard, 150 ; Jns por, 500; Marshall, 1,500 ; Monrao, 900 ; Dus- catine, 100; Dage, 500; Polk, 600; Tama, 150; Wapoello, 200 ; Woodbury, 4005 Lenn, 800, The following countica givo Anfi-Moncpoly majorities : Kookuk, 160; Loe, 125, Mahaskn re&ortod 1,200, Tho roturns from these and other counties show n Republican majority in the Btate of from 20,000 to 25,000. . Counorr, BLurrs, Iowa, Oct. 15,—The Repub- lican majority on tho Stato fickot in Pottawat- tomi County will foot about 500, & net gaiu 200 over last yoar, The conteat hero, ns elzowlore in tho Btate, was strictlv o local one. The Re- publicans eloct the Reprosontative, Auditor, and- probably Tronsurer and Surveyor and all the township oflicers. One township is yet to be henrd from. ArtoN, Jows, Oct. 15.—Later returns indicata the election in this county of Milligan, Republi- g}ln. lgupurlutnnduut; Ricnie, Republican, for eriff, * DesMornes, [n, Oot. 15, —Twelve spocials to the State Register, giving full returns from thir- ty-three counties, show a reduction in the Ro- publican mnjority, a8 conilmmd with Carpenter's vote in 1871, of 10,002, Many counties are re- ported close, requiring the official count to de- cido. Tho snmo ratio of decroaso in tho re- ‘malning counties as in the thirty fully roported, will reducs the Ropublican majority in the State to 16,000, or a reduction of the majority or 1871 of ovor 26,000. This, hos been tho result of Grango tickets and secrot political work., Tho indications aro that tho Antl-dMonopolists aud Domocrats will have n n‘m]m‘lt]v.l ol the next House, white the Ropublicans will have a large majority in the Senato. Special Dispateh to The Chicago Tribune, DaveNvont, Oct, 15 —Full roturns from all g‘m'ts of tho county denete tho clection of tho iboral couuty tioket by a majority ranging {from 600 to 2,000. Harney, Libernl, for Sherifl, has over 2,000 majority, and Judgo Murphy, for Senator, 1,600, Tho Liberls olect overytiin but County Auditor. The majority on the Anti- Monopoly State ticket is 1,000, The resultisa reat surprise, both to the Liberals and Repub- cans, A dispatch received hero (his.oyauiui atatos that Clinton Councy, hitherto_giving & Republi- oan majority of 800, has gono Liboral. Tho Ro- publican majority 'in the Stato hus boon groatly reduced, and tho Anti-nlonopoly voto polled is an unexpectedly largo onoe, Special Dispatch to The Chicago T'ribune, BeosE, Ia., Oct. 16,—All tho townships in tho connly biit ona have boen hoard from. Tho Ropubllcan majority is reduced from 600, last fall, to_abont 100, * Tho Auti-Mouopoly cov-ty llul;&t' is elected by majorities ranging from 80 to 400. Special Dispatch to The Chicauno Tribune, Duruqu, Oov. 15,—The People’s ticitet in this county was genorally successful at yosterday's olection by from 600 to 1,000 majoclty, Cooloy is clected Sonator, Willinms Couuty ‘U'roasurer, Coatos Bupervigor, and MoLaughlin Comnty Auditor. The corrupt ring which las gov- emed thin county for ~years s broken up. No attention Was paid to the Stato ticket, but the Anti-Monopoly ticket goes out of this county with u mflumy. Tho wholo contost centered on tho county ticket aud the membors of the Legislaturo, OF tho throo Represenias tives tho Democrats oleot two for cortuin, aml may bo all of thom, Taoro i grout rojicing ut the dofeat of the Domocratie ring, Krokux, In., Ocl, 15.—Hoturus from all tho precinots fn Loo County —uro mob yeb received, but tho hudicalions =~ aro that tho Auti-Manopoly ~ o ticket will have o small _ majority, Thao conulz ticker is divided, Rothort, lluYublicml. is cloct- od Senatoy, with two 1f not_all thiee of the Ite- publicau Lloproson{ativos, DBlackburn for Au- huor, and Convtright for Transurer, on the Autls Monopoly ticket, avo cortainly oleatod, SR CALIFORNIA, 8an Fraxoisco, Oct. 16,—Tho Judioial oloation hero throughout the State was quiet, A smull [Continued on the Eighth Tages)