The New York Herald Newspaper, September 29, 1869, Page 3

{ ) WALL STREET Matters Still in Doubt Among the Gold Brokers. The Bank of New York Declines to Make the ‘*Clearings.” EXCITING MEETING IN THE GOLD ROOM. The Gold Board Undertakes to Make the Clearances, ‘The mysteries that surround the Wall street panic have yet to be revealed. Although the deep gloom that prevailed throughout Monday was yesterday partly dispelied, a relapse followed, more darkening and dangerous in its effects. Doubt, suspicion and despair ruled rampant and demoraiization spread quickly with the most terrible resalcs, The ravages caused by the speculation must be fearful to contem- plate, for many an honest merchant has unwittingly been made a victim—compietely sacrificed by the heartlessness of the operators. It is no easy task to describe the state of feeling yesterday, Men were bewildered rather than excited, The scenes of the great drama were shifted with such astound. Ing rapidity, the lightning-like manner in which the various acts were performed scarcely giving one time to think of what they were, or even speculate astothe end. Wallstreet was shaken to fts centre by the explosion of every financial bombshell that ‘was cast into the great army of troubled spirits. The executive sessions of the Gold Room were re- plete with startling events. First, came the bright ray of hope, when it was ascertained that the Bank of New York would undertake the clearings—only to be nipped in the bud when it was announced that the herculoan task was an impossibility, Then followed dismay, and the confldence that was thus tempora- rily raised fell to the ground. A thousand means were suggested to clear the dificulty, but, with the exception of the afternoon proceedings of the Gold Room, which are somewhat of a reassuring char- acter, scarcely anything was accomplished. Rumors of failures were constantly afloat, their direct effect being that sad havoc was made in Values, completely annihilating a host of small Operators and damaging severely a large number of extensive firms. The sad feeling gradually grew much stronger upon the belief that some of the members of the clique had sacri- ficed the brokers engaged to them and had repudiated the orders given, and not a few thus mortified and disheartened were known to protest their determination to fix the responsibility of their purchases upon those very principles and leave it for the street to decide how far they will retain force ~ continue in business, Perhaps the most distress- ingly apparent evidence of the genéral distrust was the sickly and demoralizing panic that prevailed m the stock market, which wriggled most termbly. It ‘was a siruggie In the most impenetrable darkness, ‘The following will more fully explain the details of yesterday's proceedings:— THE MERTINGS AT THE GOLD ROOM. The morning meeting was looked forward to with ‘the greatest interest. A rush was made for the Gold Room shortly before ten o’clock, and before the meeting actually commenced the place was crowded. Mr. Townsend Cox presided, and upon ‘the board being called to order Mr. Keep, the chatr- man of the special committee of four appointed yes- terday to obtaln Belden & Co.'s statement from tie Gold Exchange Bank, reported that ne had vptained @ copy of such statement this morning, and recom- mended that it should be posted in some conspicu- ous place In the room for examination by members at their convenience, “J Here a tumult arose and cries of “read, read,” were vigorously maintaiued. A member here obtamed the floor and deprecated the time and attention that was given toa matter which should be regardea past and over, He thought it necessary that a fresh start should be taken and the transactions of the past removed entirely beyond the consideration of the Board. Forty millions of dotiars could not ix Beldon & Co.'s statement, and it was a waste of time to discuss the matter. The Clearing House had done incalcuiable fgervice to brokers and to the whole mercantile com munity in settling the confession that Thursday’s and Friday’s dealings had brought about regarding Mr. Brown, Although no statement of his was in the clearing houses his tickets were. Mr. KEEP here said, in further explanation of the paper he held, that he anc the committee had found other incomplete satements of Belden & Co, in the bank, and regarding that one, although being set aside, would probably ruin him, yet he could not gee how it would pass. It was not elgned. (Cries of “Lay it on the table.) Several members here called out against the read - ing, and amotion to lay the whole matter on the sable was prom a, wy “J indtion Wad fade aiid seconded to settie all out- standing differences ex Vlearing House on the basis of 136, but not put, The SECRETARY called up the report of the Special Committee of Nine appointed yesterday morning, and asked its further consideration, ‘Thesecond resolution, recommending the members Of the doard to settle as far as possible all of Friday's contracts ex Clearing House, was put and carried, after which the third resolution, calling for the appointment of a committee to confer with the Bank of New York to ascertain whether said bank would be willing to act as clearing house for Friday’s busi- ness or until further notice, was put and likewise adopted. ‘The Vice PRESIDENT of the board explained that in seconding the motion to settle all outstandlag differ- ences upon the basis of 135 he did not mean It a3 an abridgment of existing contracts, but simply asa ‘basis for preliminary settlements in order to get rid of the existing block in business, the differences then left to be matters for subsequent adjustment, Mr. BaLLou explained that he had tnformation that the Bank of New York would accept the work of clearing as mentioned in the resolution, on the con- dition that it should be held separate and distinct by the members of the board from all banking busi- ness, and that no accommodation would ve asked, a8 none would be granted, upon resulting balances to anybody unul the whole work was completed. They would require the payment of gold due in gold and currency in currency. The President and two Vice Presidents of the boara ‘and Messrs. Ballon and Campbell were then ap- pointed a committee to wait upon the President of the Bank of New York, and the board toox a recess to eleven o'clock. THE REORS3—CHRERING NEWS. The Board reassembled at eleven o'clock, when the committee appointed as above reported thatthe Bank of New York consented to accept the state- ‘ments of brokers and clear Friday's business at 135 as the standard quotation, the members to eettle all Aifferences left Over themselves. That statement should be in at half-past one. The chairman of the oommittec further explained that the loan market ‘Would remain open, aa usual. The report being ac- eepted, A member then made a motion to resume busi- ness. It was about being carried, when Mr. Kerrier objected, on the ground thatif they should do so without previous provision, and that if Belden & Co.'s and others’ gold be permitted to be #010 out under the rule,as it would have to be if called for, gold might fall off to par, there being about Sixty millions to be sold, and moved that the Board Bdjourn over without doing any bualness, except foaning, After discussion tho following resolution was read:—‘‘Resolved, That the executive session do now adjourn, and that the members of the board proceed to arrango their joans, but that no purchases or anies made to-day will be enforced by the Board.” Objection being made to the phraso- ology of this report the following was read asa substitute:— Resolved, That the exeoutive seasion now adjourn, ut that the board be lett open for the transaction of Joans ony to-day, Aho gilegs of Mir Kevpler's romarky wero agme- ’ NEW YORK HERALD, WEDNESDAY, SEPTEMBER 29, 1869—TRIPLE SHEET, ‘what startling, He also moved that all loans should be made flat, The motion was carried and the board THE IMMEDIATE RESULT. When the action of the Gold Board became known confidence set in and a healthy atmosphere spread around, The great depression which had up to that moment prevailed in all directions was con- siderably dispelled, while the general tone of affairs was changed for the better. In-fact, the feeling became cheerful and bright hopes began to be sub- stituted for the biank and uputterable dismay which up to the present time bad characterized the pro- ceedings. ‘The effect on the stock market was at once evident, Half an hour before stocks tumbled Ata headiong pace, but uyon the announcement of the action of the Gold Exchange the market eased Up and a heavy business was in earnest anticipation. A feeling of relief prevailed. THE BANK OF NEW YORK. Not long after the bank had undertaken the task of clearing @ rush was made towards it, and it was hoped that the task was commenced in earnest. Crowds gathered outside the door and the pros- pects were diseussed with animation, nearly all taking a hopeful view, more or less, of the situation. Although it was expected that a great deal would be done none doubted that for a time matters would remain much mixed, and especially in regard to all involved with Belden & Co. and such others as had sought or threatened to invoke the interposition of the courts in the settlements of disputed contracts; but outside of such, and as business was now partly resumed, the line of demarcation, it was thought, would be more and more tightly drawn, Indeed, there was a fair prospect of clearing away much of the suspicion and distrust that nad existed on all sides since Friday, as there was, apparently, a swiftly returning confidence. THE GOVERNMENT SALE OF GOLD. The government sale took place abont midday. There was a good attendance, including among this number many prominent merchants. The following are the particulars of the bids, which ranged from 130 to 132, ame, Amount, Rate, J. V. Onativia & Co........+. $50,000 131 Fowier & Jova..... 10,000 130 Charies 8, Fosdick, 130,001¢ James McNiner. 182.0054 Walker & Bulkley 130.51 Walker & bulkley 130,27 Waiker & Bulkley 130.02 Hardt & Co..... 130.07 Brown & Gorham. 132 Sam. McLean & Co.... 130.69 Sam. McLean & Co, 130,89 P, B, Allen... 130 Dutf, Timmermann & Co. 130 BP, Hayden,........0++ 130.0034 J. L. & D. 3. Riper 130.38 J. 1. & D. 8. Riper 130.88 Leland bros. & Co. 130.26 W. B. Mott & Co. 130,00)¢ Schatfer Bros . 129 Schatfer Bros .... 125.06 Hagen & Billings. 131.003 Hagen & Billings. 132 Smitn, Randolph & Co. 130 8. B. Cluttenden & C 130 ‘Trevor & Colgute.. 131,53 Trevor & Colgate.. 181.40 ‘Trevor & cae 131.30 Trevor & Colgate. 131.06 ‘vevor j: Solute, 130 ‘Trevor & Colgate, 131 ‘Trevor & Colyai Ho revor & Colgul 20, revor & Coigate, 120% Trevor & Colgate. 128 Charies Unger & 120% Hi, H, Swift & Co, 12036 C, A. Buttrick, 125 ‘Total $2,007,000 Assistant Treasurer Butterfield having telegraphed to Washington for instructions, the following were the awards subsequently made, all bids below 13¢ being rejected:— Trevor & Colgate... ‘Trevor & Colgat Trevor & Colgate . Trevor & Coigate. ‘itrevor & Colgate, ‘Trevor & Colgate. Onativa & C Fowler & Jova James MeNider. Charles B, Fosdick Walker & Buckley, Walker & Buckiey. Walker & Buckley. Hardt & Co. Brown & Gorham. Be Bi ANGI A.C o0s<-sey Dui, Timmermann & © Total.. THE GOLD EXCHANGE BANK. The Gold Exchange Bank eettled its debtor bal- ance of $2,442,000 at the Clearing House by collate- rals, includtug $1,000,000 at par call loans and bilis receivable, which some thought would cover tts lia- bihties to the banks, though @ rumor gained circu- lation yesterday that the Gold Exchange Bank had failed, It appears that the exchanges fe net delivered to this bank until it had given the com- mittee security for fie payment of its indebtedness, It was stated that on these securities the other banks lept the amount of legal ten- ders requisite to liquidate the indebtedness of the Gold Exchange Bank. In fact the creditors of the bank were called upon to make up their proportion of the amount necessary to liquidate the mdebtedness after deduct- ing the one militon gold, It was thought by some that the supposed weakness of the bank not only accounted for the delay in settling the Gold Room clearings, bub also gave rise to the rumors of tts failure, for which, however, there was no apparent substantial reason. it was comparatively deserted yesierday, and complaint was general concerning the manner in which its proceedings were con- ducted, though it cannet be deniod that the bulk of work to be transacted was something enormous. ‘The limbilities having been covered, it was thought that the bank would be a creditor at the Clearing House, and the announcement of that fact upon tne street tended to place the position in @ much better Jigut than wag antjetpatna by many. RuMonS or susPExsfons, Notwithstanding the confidence which had now been infused, stories of failures did not by any means cease, and throughout the entire day ramor was busy in the extreme. The general unsatisfac- tory feeling, Mable to be shaken at every moment, was much aggravated by the circulation of a report that a very extensive firm, largely interested in New York Central, had succumbed to the pressure of the time. The rumor, while it was somewhat detrimen- tal in its character, appears to have but little foun- dation in fact. Several other firms were likewise reported to have fatied, bus the entire impossibility of ascertaining any inkling towards the trutn of those statements, and the dangerous motives that donbtiess might have prompted them, must make them be regarded with considerable suspicion. THE FEELING AMONG THE BANKS. Though bank oficials generally struggled most energetically to stem the great tide of demoraliza- tion, and left not a stone unturned to regulate mat- ters, their efforts were to @ considerable extent paralyzed by the counteracting influences brougnt to bear against them; for the stern gravity of the crisis was not @ little aggravated by many who, with a heartiess Indifference, called in loans and otherwise protected themselves, being totally reckless of the sad consequences to others, The result in some Instances was disastrous, Brokers, even thoso in the very best standing, found it no easy task to borrow. The majority of borrowers paid the most irregular rates for carrying, and altogether the effect was depressing, among the consequences being the terriflc tremble in the stock market, Altogether the feeling among the banks was one of seriousness, Distrust prevalied, and it was not unwisely thought that until the correct position of affairs was ascertained that distrust could not pos- atbly be removed, Every market te affected by tt, There was no obtaining money at the Stock Exchange except at the most exorvitant rates, For instance, the gradations were from one-quarter of one per cent to two per cent per day, with per. haps a greater number of transactions at one-half of one per cent. Such loans were generally in the shape of carrying stocks, though it was Known that in afew cases one-half of one percent was paid direct, THB GOVERNMENT BOND MARKET, Compared with some of the highest saies of Mon- Agy the Driggs in the MoyerumMens hodd Wwarkes dg- clined from three-quarters to two per cent. Bat little disposition was shown by some of the leading dealers to support the market until the present complica- tion is completely unravelled. A decline was also exhibited in State bonds, while ral!road bonds were extremely dull. On the whole the market was extremely sensitive. The principal sales yesterday were for cash, BLIGHTED HOVES—THR BANK OF NEW YORK GIVES UP THE TASK OF CLEARING. Asalready mentioned, the great movement to settle last Friday’ transactions in goid attempted by the Bank of New York was halied with general delight, It was generally anticipated that by a gigantic effort the true position of those involved in the speculation would be unveiled. In doing so relief would have been imparted, even if itrsiould appear that the solvency of large firms of high standing should be impaired, Altogether it was thought that the full extent of the crash would be known and the terrible uncertainty that had hitherto surrounded the affair would be removed. Men became prepared for the worst and were only anxious to ascertain the limit of the catastrophe, The labor was immense, but the very fact of the bank having undertaken to clear it away calmed many a troubled mind. The bright hopes formed in the morning, however, were destined to be continued. Frightened, Perhaps, at the vastness of the work the New York Bank hesitated to proceed with the undertaking— the clearing of Friday’s business tn the Gold Room— and finally declined to accomplish the task, inas- Much as it would tend to embarrass the regular operations of the bank, The effect produced was gloomy ip the extreme. The panic which nad pre- viously characterized the stock market was renewed and the greatest confusion and disorder prevailed, THE EVENING SESSION IN THE GOLD ROOM—DETER- MINED ACTION, Tue members of the Gold Board reassembled at three o’ciock, in obedience to a special cail from the President, There wasa very large atteudance, and the proceedings were characterized by the greatest excitement. When order was partially restored the committee reported that the Bank of New York de- clined to clear Monday’s contract in the Gold Room owing to insuflicient clerical force for such an under- taking. A stormy debate ensued, several parties speaking at once, while the chairman bammered for order in vain, Mr, Edwards at length offered the following reso- Jution:— Resolved, That a committee of twenty members of this Exchange be appointed to receive all the Clear- jog House sheets and examine them carefully, with- out receiving any money or balances, and, finding all correct, strike a balance sheet of the whoie and present that to the Bank of New York. If accepted, then let everybody owing balances on their sheet hand such a balance in first. Then there will be no doubt but those having jnoney coming to them wiil get tt, , ‘The resolution was adopted after astormy debate, and the following gentlemen appointed the comuit- tee called for in the resolutton:— R. L, Edwards, D. Milliken, G, H. Bend, R. H, Foote, R. Keppler, R, P. Lounsberry, W. ©. lor, W. #H. Dad, B. E. Jackson, B. HL. Gould, ©. F. Devenport, J. MoMeeker, G. Phipps, H, A. Heiser, Jr., R. B, Whittemore, N. Dessau, A discussion then arose a3 to compelling the mem- bers of the Board to make their respective state. ments, while others loudly called for au adjourn: ment, Mr. JACKSON, after some difficulty, obtained the floor, and amid great confusion proceeded to say that he thought everybody had their statement now made out, Every one had their statements and re- turns just as they were sent to the bank, and if they met in the Gold Room that evening‘and struck a balance of the gold due them, and all matters being put~to rights, he ventured to pledge that the Bank of New York would receive their gold and ,currency, in the morning, when the balance would be made out, and pay. If they wanted to make a statement this course was open. Now he sincerely believed that there were some who did not want tosettie at all—(cries of “Right,” “Right”)— but he felt confident that if every one made out his statement and co-operated in the working the mat- ter would come to asatisfactory termination. (Ap- plause.) He was proceeding to move a resolution when several members stood up to speak, and in the alarming confusion nobody was heard distinctly, A Voice -I move We adjourn. (Cries of ‘No,’”’ “No,” “We have done nothing yet,” “What did we come here for #? and other similar sentences.) Mr. COLGATE—Mr. President, | say,-Mr. President— (cries of ‘‘Hear him,” “Order,” “Order")—the only way—I see only one way to settle the dimeuity. A Voice—What is it? (“Order,” “Order.’’) AnNoTHER Vorce—I move we adjourn, (Confusion and cries of “Discussion.’') Mr. COLGATE—I see only one way to set matters to rights, and that is for every one to attend to his own business. (Ah, “Ah.’') Vorce—You cannot do that; no one can do it. “Order,” “Order.’?) Anorasr VoICE—J move we now adjourn, dor,” “Order.’’) Mr. HopaRins—Don't let us go off in excitement. We are business mea, We are not through yet, ‘The CHAIRMAN—The motion before the meeting is to adjourn, (Loud cries of ‘Order” and genera! confusion.) Mr. Hopgxins—The motion ts withdrawn. (Shouts of “Aye, aye.”) ‘The CHAIRMAN (hammering)—Are you chairman oram I? (A slight pause.) Mr. HopGkINs—The motion to adjourn has been withdrawn. (Aye, aye.’’) A Vorcg—I withdraw the motion. A member now proposed that the meeting should go to the committee room and discuss the matter, Some agreed and others dissented. Confusion was the result, A Votce—There is some doubt whether the mem- bers will conform to the resolution just passed. ANoTHER VoIce—I offer a resolution that the Gold Exchange stand by the action of the committee. Mr. JacksoN—Mr. President, | wish to say a word ortwo. (“Order.’!) The CHAIRMAN—We have a motion before the house, namely, that the Gold Exchange stand by the action of the committee, (Cheers and cries of “Question,” “Queation.") Mr. JacKSON—J have only one remark to make, Mr, President, (Great confusion). The C\\kMAN—The motion before the house Is— (“Question,”” “Question.’)—are you ready for the question ? ALL (simultaneously )—Aye. Mr. Jackson—If the gentlemen will send in their statements they will see all transactions wiil be quickly cleared, The committee only want to do their work. (Cheers.) A Vorck—How can they settle their balances at the Gold Exchange Bank. (“Order,” “Order.’) The Chairman then put Mr. Tucker’s motion that the Gold Exchange stand by the action of the com- mittee, which was carried unanimously, A VoIck—Mr. President, 1 move that we do now adjourn, AxerHER VoIceE—I second the motion. confusion.) Mr. Epwarp3—1 move, Mr. President, that the committee go up atairs and proceed with business. A rousing debate ensued as to whether the com- mittee appointed to make tho clearances should keep open to ten or twelve o'clock the following day. A Vorce—We can state dy ten o'clock to-night how matters stand. A member stated that as many of their clerks had gone home some of the members would be unavie to make their statements. A Voice—I want to move a resolution that every Member who fails to put in his statement ts declared failed, (Cheers, The CoainMaN—The question is whether the com- mittee will keep open to ten o'clock or twelve, (Ories of "Twelve o’clook.’!) Tweive o'clock was the hour decided upon, A motion was then made to place Mr, Osborne on the committee instead of Mr, Heiser, which was adopted. A MEMBRR—I move that a committee of five be Appointed to walt upon the Gold Exchange Bank and find out why the remaining etacements of Thure- day's business are not settled, (Cheers,) The resolution was seconded, ana having been put to the meeting was carried poagimousiy. (Or. (Great Mr. Hoyr now appeared on the scene and said:—{ don’t wish to interfere in your action regarding the Gold Exchange Bank, but aa I have Just come from it a few minutes since Tthought { would state for tho satisfaction of the members the exact posture of that bank as I under- stand {t. (Cheers.) In the first place, when the Great magnitude of Thursday’s business became known they resolved not to undertake the clearing of it, In this the directors were overruled and the Performance of the great task was at once com- menced. They went then upon the supposition that the work could be accomplished in time. The Gold Exchange had only one of two courses to pursue; one Was to retain, according to the ugual custom, all the currency ana gold until every state. ment was made, or to depart from that custom, If this bank had observed the one a terri- ble panic would undoubtedly have been pru- duced—a much greater one than has existed on the street—for tne gold would have been locked up. But the bank determined to pay as far as possibie. They assumed that the statements respecting cer- tain parties were good, and upon the representa- ions of those statements paid out money, Now tt turns out that some of the statements are not good, and therefore the !oss must fall upon the bank, which haa now determined to watt until each state- ment is before them before they dan pay. The remarks of Mr, Hoyt were received with mingled feelings of approval and disapprobation one Party observing that the reason assigned for the Gold Exchange Bank not paying was because they had no gold, Mr. Hoyr—fam making this statement without really Knowing the tacts, but rather from the infor- mation which I myself gathered, and I give It to you for what it 1s worth, leaving it to your better Judgments. At all events, more hopeful view of things is certainly presented to my.mind, and on that account | trespassed upon you with a few remarks, (Chieers.) Mr. FISHER stated that he could obtain neither gold nor currency from the Gold Exchange Bank, although it had already been paid for. Mr. HopoKins renewed his motion that every member of the Gold Exchange be compelled to send his statement to the committee, otherwisg to be sus- pended from the Board. ‘The resolution was carried unanimously and the meeting adjourned, The Gold Room was then cleared and the commit- tee formed immediately, It was then formally announced that the members of the committee were in readiness to receive statements, and it was stated that they would work all night to straighten out the business, THE STOCK EXCHANGE presented quite a deserted appearance and the prospects were gloomy in the extreme, though there is as yet but little confirmation of fajiures among the stock houses, There has, of course, been a great delay of payments among several firms reputed strong, Owing, as already stated, to the great difficulty of borrowing money, A large number oi brokers had some trouble in making up their bank accounts, Among other evils {t may be mentioned that foreign exchange is somewhat unsettled by reagon of the present moncy stringency, A NEW GOLD MARKET. Although It is very probable the Gold Exchange will not be able to resume regular trangactions in gold to-morrow the market prices will be given for the precious metal during the dealings at the National Stock Exchange, as the following resolu- tion has been adopted :— Whereas the recent fiasco in the gold market has left the business community without proper facilities for the purchase and saie or goid, to the great deitri- ment of the business Interests of the country; therefore Resolved, that this board come to the rescue, and that, at ten o’clock to-morrow ana every succeeding morning, the members of this Board meet for the purpose of dealing in gold. THE EXCITEMENT IN THE CITY. , The remote prospect of an adjustment of the Wall Street diMiculty created some excitement as well as considerable apprehension. The streets adjoining the scene of action were crowded and groups chat- ted earnestiy the entire day. Many were rapt in serious contemplation, for there was no knowing Where the panic would terminate. One of the great- esi centres of attraction was the stock market, where @ crowd of frantic operators were in earnest debate. Broad street was, as usual, the lounging rendezvous, and haggard, palefaced, heartbroken jooking men wandered listlessly up and down, Daring a portion of the day the excitement which characterized the proceedings of Monday was, if any- thing, increased, WHAT AN EMINENT BANKER THINKS OF THE AFFAIR, A member of one of the highest banking firms in this city was called on yesterday, and tn reply to an inquiry respecting the result of the panic philo- sophically replied that it would right itself. At the time referred to the Bank of New York was regulat- ing the statements, and matters seemed then to be fairly under way. On the whole, he thought things might be worse, and he was of opinion that they would rapidly improve. His frm, be said, had sokd gold at from 81 to 82. He remarked that very few really respectable bankers—that is to say, not many who recognize the prin- ciple that honesty is the best policy—were concerned in the affair. Its saddest phase, he thought, was that honest, honorable and upright merchants were made to suffer trom no fault on their part. When interrogated as to his opinion of the panic itself he said he thought the plot, as a plot, was badly managed. The conspirators, he re- marked, spoilea their own game. He did not be- lieve they would have spread such rutu, though their heartiessness was proverbial. It was probably their intention not to run gold to such a figure, but rather dandle with it for awhtle and let it fall nicely. In conclusion, he wisely thinks that if hon- est men kept clear of such speculations the rogues falling out among themselves would be compelled to bring to a close their swindling operations. THE GOLD EXCHANGE COMMITTEE LAST NIGHT—THE STATEMENTS. With considerable energy the committee of twenty appointed to receive the statements of members of the Gold Exchange and make the necessary clearings, went at their work with apparent energy. At first some hesitancy was exhibit- ed in handing in the statements, but finally they began to arrive more rapidly. The committee first met in the Gold Room, but as night approached they were accommodated with a comfortabie room in one of the city banks in Wall street, which was in ail respects more comfortable than the Gold Room. The members of the committee immediately commenced operations, Statements were handed In, and an anxiety was evidenced to assist the committee. The proceed. ings were not characterized by any excitement, At ten o'clock over seventy statements had come in, while numbers promised to send theirs at an early hour in the morning. It is to be hoped that all statements of whatever nature will be forthcoming, and that none will negiect to use their utmost exertion to unravel the complica tions by which the whole affair is encompassed, According to the resolution passed by the Gold Board yesterday all members refusing to send in their statements will be suspended from the voard. A word to the wise Is sufficient, FURTHER PARSICULARS—THE CLEARINGS—RUMORS. ‘The committee appointed by the Gold Room con- tinued to examine into and adjust the accounts of last Frjday's multitudinous gold transac- tions, began their dificult task—dimeult | because @ large mumber of firms had still faiied to send in their statements, Up to midnight out of the 300 members of the Exchange only about 250 had sent in their statements, statement was sent in last evening, and Messrs, Smith, Gould and Martin called and stated | that. theirs would also be sent in, The work of adjustment was proceeded with on the basis of 136 for all contracts made on Friday, with the exception of those of Belden & Co., which were thrown out. The majority | of the brokers adjusted their accounts without demanding any abatement Everything progressed quietly last night, there being few besides tue mem: bers of the adjusting committee present. ANOTHER OF THE WALL STREBT GOLD CASES IN COURT. Castelar vs, William Heath & Co. and the New York Gold Exchange Bank.—Mr, D. M. Porter appiled for an injunction in the Supreme Court, Chambers, yesterday afternoon to restrain the pay- ment of $8,750 deposited in the New York | Gold Exchange Bank on account af Weath | only he can, &Co.,in the shape of a certificate which has not been paid. The bank, as well aa Heatn & Co., being now insolvent, the injunction prayed for the pro- tection of the enjoinee, Judge Clerke granted the injunction without hesitation. The following are the recommendations and instructions of the committee of the New York Gold Exchange:— Resolved, That all dealers be requested to send tn their statements as early as possible, and no state- ments shall be received after twelve o'clock M. Resolved, ‘rhat all persons expectang to present statements be advised to ascertain that overs person Whose hame appears thereon will present similar eae 80 that perfect balances may be possible Resolved, That all such statements be made up on the same basis with those made to the Bank of New York, and that, as far as possible, the same sheets and tickets be used, Resolved, That persons finding it necessary to alter yesterday's (Tuesday's) statements may avail themselves of the loau market without imterest to amend their statements, unless they are prepared to settle with cash when called upon. Reaoived, That all duferences due reucy be deposited in certificates or certified checks In the Bank of New York of other designated bank, and that not one difference due on statements snall be paid to any person until every difference due from every person on statements ‘shail have been deposited at such designated bank. gold or cur- Severe On the Gold Denlers. To THE EpiroR OF THE HERALD:— Tn your tssue of the 27th you ask, Where is the remedy to prevent such scandalous gambling scenes as those of Friday last?’ Here it is, ina few words:—Let the administration close that gainb!ing hell, the id Room, and withdraw the charter of the New York Gold Exchange Bank, tie leaaquar- ters of a set of unprineipled and unscrapuious scoan- drels and monopolists. No prosperity nor resump- Uon of specie payment can be thought of in this country unless the aforesaid scurf is removed. THE NAiIONAL EXHIBITION. e Address of the Hon. 8. 8. Fisher. United States Commissioner of Patenis. There was @ large attendance of visitors at the National Exhibition last evening at the Rink, attracted not only by the more than thousand and one attractions of the exhibition itself, but algo by the expectation of an address by the Hon. 8. & Fisher, The chair was taken by Mr. Orestes Cleve- land. Mr. FISHER said that ne wished to deal frankly with his audience, and to tell them at the outset that it was not bis intention that evening to give them a lecture on American industry, but to read them an address that he had written and carefully prepared comprised details as to the progress of patents In tnis country. When he left Washing- ton ne had no expectation that he should be calied upon to give any address at this exhibition. Among the earliest recollections of his boyhood were visits paid by him to exhibitions of mechanical works at Castle Garden and at Niblo’s, Of what was exhibited there he could only recollect that there were models of steam boats, of ships, and of engines, which generally wound up with a grand pyrotechnic display, and on one occasion the finale was a grand bombardment. One thing, however, there it was impossible tor his young eyes not to see, and that was that nearly every article bore the magic word “Patent.” That was in the days immediately after the passage of the great Patent act in 1836, out of which came the distinct American system of Ecees. let- ters patent. At that early time the Patent OMlce had become a "pyc 1n the land and sheltered under its wings @ litte world of new-fledged American Inventions, He supposed that if upon the outer wall of the exhibition building there had been inscribed that no article bearing the word “Patent” would be admitted, nearly all the articles now on exhibition would have been stopped at the threshold of the door. For the increase of the number of patented articles and the Increase of an_ inventive spirit the American Exhibition and kindred institutions = were mainly responsible—a respon- sibility that they need not be ashamed of, ‘These expositions had fostered rising talent and in- veutive genius, and by their aid many an inventor had become rich who Would not have been able to have had his invention brought under tne notice of the public. During tae last forty years there had been @ great increase in the number of labor- saving machines, and the work of the Patent Ofilce and of kindred institutions and exhibitions of the character of this national exhibition was for the werpoee of protecting and developing the unknown genius of our country. The Patent Oince was more especially charged with protection, while the exhibitions were charged with development, or as he supposed they would probably phrase it—th Patent Office motto was ‘Protection to American® Gentus,” that of industrial exhibitions “Protection to American Industry.” In 1836, in the Patent OMce, there was one commissioner and one examin- ing clerk, and that was then thought to be suilicient Now there to do the work of examination. were sixty-two examiners, and over-crowded with wor! Ployés was also employed, while the number of ap: plications was considerably over 20,000 per annum. ‘ihis year the number of patents granted would aye- rage over per week, or 14,000 in the year. He might, perhaps, be allowed to say a few words on the difference in the mode of grantiug patents, in several countries, In England ail applications were granted without an examination of tue inven- tion or the inventor’s claims. In Prussia some slight examination was made into the character of the invention, but in no case were the appiications for patents investigated by a corps of scieritific examiuers, with drawings, modeis and sci- entific appliances at hand to ascertain the utility and originality of the various projects, This was the case iu America and the result Was the re- jection by the exawtner of the Paient Office of | nearly one-third of the applications; yet the result Was that as many patents were issued in the United States as the whole of Europe. ‘This Was brought about mainly by the Americans being an inventive people; every clase in America was an inventive class. The wo- meu were great inventors aud I, did not confine Uemselves to articles that had relation to wearing apparel. Mr. Fisuer gave several amusing tlustra- tions of peculiar adaptations of the inventive pewers. One man had desired to patent a pill ior the extract ing of worms by a delicate line and a tiny liook con- cealed in a stomachic pill, A lady wanted to patent & hook which should also serve us a paper cutter, a8 a skirt support, as a paper file a child's pin, a bouquet holder and a shawl rotector, Mr. Fisher then referred at some length to thé principles on which the patent laws were founded, and closed a very interesting address by expressing his opinion that the American sys- tem, which gave seventeen years of protection to the inventor, was the most practicabie and equita- bie, The address at iis close was largely applauded. THE PENIANS. The several secret meetings which have kept the Fenians of this city busy during the past week found some vent last night in aun open gathering of the MoHale Circte, at the Metropolitan Rooms, Hester street. There wasa large attendance of working men, Several members of the Legion of St. Patrick, armed with rifles and inthe uniform of Meagher’s Irish Brigade, gave a slight military air to the pro- ceedings. Mr. JAMES MCMAHON called the meeting to order and introduced Mr. Joseph Fury vo the audience as “one of Ireland’s noblest sons,” Mr. Fury stated that he had merely dropped in by “accident,” but yet commenced ina high note by tracing Fenianism back to the days of Finn McCool, whom he placed the mogst tlustrious of kings on the throne of Ireland two thousand years ago. He gave an ingenious account of how Agricola, out of lear of Finn’s prowess, declined to measure the swords of his Roman legions with the original Fenians, He then read @ huge indictment against the British government, charging them with robbery, spoiiation, murder and every species of in- humanity, The Irish famine, in which two miilions perished, he laid to the door of that “damnable” government, and made an earnest appeal to those present to come forward und take up the cause of liberty for Ireland and vengeance upon her oppressor. ‘he force of Mr, Fury’s eloquence did uot seem to be felt by the audience, so the speaker launched out into a furious invective. He pronounced those who were deaf to his eloquence to have hearts deadened and = withered. fe even ventured on @ ries of imprecations ou those who, being thus enlightened, refused to follow the generous sentiments with which he had calculated he had fired them. Then he invoked the genius of Wolfe Tone. He apostrophized Tone’s departed Spirit, and coolly lnquired it he could icok down on ch sluggish patriotiam. This took effect. One young man came up and dooked himself, There was acheer, and Mr, Fury changed an indignant brow for what be meant to be asmile, He wanted one more, Agotiercame. Enthusiasm began to kindle, The speaker waxed witty, Iuere was luck in odd numbers, Who was to be the lucky volunteer? This was o hit, and there was a rush to the table of stx or seven staiworth fellows. Now, Mr. Fury, having gov an inch, demanded an ell. He wanted a baker's dozen. For this he prayed and grinned as and launched out into bless. ing and cursing after @ fashion which certainly might have shaken weak nerves. But “tho baker's dozen” had not come, so the pax of the evening tried the effect of statistics. He talked millions. ‘There were three millions ster- ling stolen from Ireland for cotton goods spun in Manchester; two millions for pottery taken on to Staffordshire; aix millions taken oy absentees. in all he ran up an account of eighteen mil- lions, and deciared before high Heaven that if this did not affect every man present the vivod winch flowed like water for ireland lad veeu shied in vain. ; Money he did not want. could be paid the next time, wound He wanted nen. ‘The fees The speech was up by @ peroration which deles all criti Mr. Fury gave place to Mn in asensible speech, re id, and pointed out thas mn Resolutions were passed in support of the objects of the meeting, and some private business having been trausacted, the meeting separated. AMUSEMENTS. ACADEMY oF MUSsIc—LUCIA DI LAMMERMOOR.— Donizetti's superb opera of “Lucia di Lammermoor’? was performed last night at the Academy of Musio by the French company of Mr. Dryane. ‘The per- formance was an tmprovement on the previous ones and really very good. Mille. Bleau, a8 Lucia, sang charmingly, and proved herself to be a fnished artist. There can be but one opinion of the fing quality of her voice and her correct management of it, There have been but few prima donnas in this country who could be compared with her, Shou she came here unheralded, But the American pr'>- ite will not be slow to apprectate her merits. The rounds of applause last mght showed that she was cepraaatet. Undoubtedly she is bound to take the firstrank im opera in this country. The tenor, ‘Tabardi, sings well, and Tasson, the bass, aumira- bly. ‘Tue first made as good an Edgar as could be found in America, and the latter was truly excellent as Raymond, he chorus is a fine one. ‘The opera, on the whole, was well performed, and as far as the Part of the soprano, Mile. Bleau, went, has been rarely 48 well done, ‘This company ought to be sus- tained. The managers deserve great credit for their enterprise in bringing out sucha large com- pany at considerable expense, and it 1s to be hoped they will bave a succeasful season. CARLOTTA PATTI IN BROOKLYN.—The Brooklyn Academy was crowded last evening to its utmost ca- pacity of sitting and standing room to hear Pattion her first appearance in the City of Churches. Her reception Was not @ whit less enthusiastic than in New York, taking into account, of course, the pro- verbial coldness of Brooklyn audiences. She was welcomed on her appearance with great warmth and Kindness, Her splendid reputation as an ar- tist had necessarily preceded her, and awakenea the curiosity of our suburban neighbors to see and hear one about whom the critics of both Europe and America had been talking fn bigh praise. Mile, Patti was not only greeted with @ hearty welcome, but she was repeatedly callea out and honored with vocal aud floral applause, im the abive ol bravos aud bouquets, that must have been highly gratifying to her. The programme of the concert ‘Was very choice, and combined the best selections from the bilis of the two first concerts—that is to Say, for Patti the “Luce di quest anima,” the '“Car- nival of Venice’ and Auber’s ‘Laughing Song,” tn all of which she was superb, and call forth the ad- miration of au audience certainly composed of the most refined and fashionable people Brooklyn. Theodore Ritter played Mendelssohn's ‘Concerto in G minor” a and was very Sree. ately —recalles to receive the plau of the audience. We have before expressed our opinion of the excellence of this young French artist, His touch is exceedingly delicate and his execution complete. Mr. Prume’s violin performs ried the audi¢nce away with enthusiasm. ‘ood @ master of bis instrumeut as Vi0~+ linist we have heard for a long ay Habelmaon was a deciaed favorite with the Brooklyn people. 18 would not be proper to exciyde the admirabie orchestra of the Patth company from a notice of ite excellence and the ability of its direction. It adds considerably to render the concerts most enjoyable. Patti sing: ight and to-morrow night at Steinway Hall, and will visit Brooklyn again next week, THE AVONDALE RELIEF FUND. Subscriptions Received at the Herald Office. The following subscriptions in atd of the gufferera by the Avondale calamity were received at the MERALD office yesterday :— ONE HUNDRED AND THIRTY-NINB DOLLARS AND SIXTY CENTS. To THE EviToR OF THE HERALD:— Enclosed please find $189.60, contributed by tha Senior Department of Grammar School No. 25, for the relief of the widows and orphans of tue Avondale mining disaster. <. 8. VAN DERPOEL, } W- B, HIGGINS, R. DUFF, A. PHILLIPS, FORTY-SEVEN DOLLARS. New YOYK, Sept. 28, 1869, To THE EDITOR OF THE HERALD:— Please forward the enclosed (forty-seven dollara) for the benelit ol the Avonaaie suterers, couteibuted by the employes of George Platt & Son, Archatecta, &c., No, 45 Kast Fourteenth street, TWENTY-TWO DOLLARS AND FORTY-SBVEN CBNT&. To THE Eprror oF THE HERALD:— Enclosed please find $22 47, for the Avondale sufe ferers, from the patrons of Farrish’s clop house, No. 64 John street, JAMES A. FARRISH. TWELVE DOLLARS AND FIPTY CENTS. To THE Epiror or THE HERALD:— Enclosed please (ind $12 50 for the sufferers of Avondale. This money was collected by myitwo little sons, aged elglit and nine years, mosily from their little friends and school companions of ther own bom Please acknowledge this through Rie valu- able paper. A. DUNCOURT, No, 203 East Forty-sixth street. Committee, A. J. Doncourt.. AG. Doncourt. J, Brickwedel K. Brickwedel Mrs. H, Brickwedel Moceocscoccceces! SERRRESSSRRSRTTS BSERSESTES RESETS Meeting of the Citizens’ and Common Council Committees. Pursuant to a special call the citizens’ committee and the joint committee of the Common Council having chgrge of tne Avondale subscriptions met yesterday atternoon at the Mayor's Office. Mayor Hail presided and Marshal Tooker acted as secree tary. The Mayor made a few characteristie and appropriate remarks eulogistic of the prompt ana liberai manner in whico te citizens of New York had responded to tue call made on them, and then requested Mr. Tooker to report brieily the result of his recent visit to Avondale and his impression in regard to the local committee. jarshal Tooker, in complying with the request of the Mayor, gave the accouut of bis visit maily as tt appeared in the HeRracp of Saturday last, and spoke most highly of the character and standing of the ee comprising the committee at Wilkes- barre. On motion of Alderman Harpy a resolution was adopted expressing the confidence entertainea by the committee ta the integrity aad ability of the loeal committee, Alderiaan DON ALONZO CUSHMAN, the treasurer, stated that he had already deposited in the Broad- way Bank, to the credit of the fund, tue sum of $19,526 21 Alderman Norton said he believed this amount would be greatly increased, as very many of the subscription Looks had not been handed in, He hoped that they would be in by the lst proximo, ani he moved that the subscription be closed by tha’ ume. ‘Tie motion was adopted, as also * motion made by Aiderman Hardy that a draft, drawn by the president and treasurer of the committee, be for- warded to the local committee, and that the mes- seuger receive from the officers of the latter orga> nization a receipt therefor, On motion the committee then adjourned. Subscriptions at the Mayor’s Office. The foliowiug additional subscriptions have been received at this office for the Avondale fund:— mount prev! aly, acknowledged.........$17,836 71 Loliections New YORK HERALD, through James Gordon Bennett......... > 1,680 50 Cash, throug Assistant Alderman D. 3. JACKBON, ITs... csseseeseovnssoe eee + 1000 Grand total..... peeves encese ss $10,620 20 Subscriptions at the Office of the Mayor of Brooklyn. ‘The sum of $225 50 was recetved at the oMce of the Mayor yesterday for the Avondale fund. The total amount received up to the present time i 85 Ol. THE MYSTIC PARK RACES, ! BOSTON, Sept. 28, 1869. ‘The tall meeting at Mystic Park has commenced and will last four days. There were two trots to- day, the first for a purse of $500—$300 to the first horse, $150 to the second and $50 vo the third horse, for horses that never beat2;60, Tne race was won by Dan Mace’s br. g. Drift, beating Nonesuch and Royal Jolin, Time—2:37, 2734 '4, 2:34, 234, 294. dhe secoud trot, for @ purse of $1,000, for horses that never beat » Mile heats—$i09 to frat, $200 to second and $100 to third horse—was won by beating Gartbaidi and Black Harry. 4, 2384) Tie CANSTATTER VOLKSFEST. The Canstatter Volksfest, or Wurtemberg Fes tivai, which was inaugurated on Monday last at Jones’ Wood, was continued yesterday, and was participated in by ap immense concourse of people—all of whom. enjoyed themselves seemingly to the tallest extent, The event of the day transpire: at three o'clock, when a grand proces. sion parade, (ve allegorical characters represented being typical of various sections and personages of Germany. ‘The testival will continue throughout the whole of Co-lay, and the committee of arrange ments Duuivers no less than forty-eight persona, /: