OCR Interpretation


Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, September 23, 1873, Image 1

Image and text provided by University of Tennessee

Persistent link: https://chroniclingamerica.loc.gov/lccn/sn85033699/1873-09-23/ed-1/seq-1/

What is OCR?


Thumbnail for

Seen! National Baik,
WASIlXIULk, TEHII.
DIRECTORS.
JTAS. MCLAUGHLIN, T. 8. MARK,
HUGH MeOREA, B. F. WOODS.
ABOHBR CHEATHAM, It. I-u "WEAKLKY,
. r. tHRUSTON, M. HENDERSON,
J, M. SMITH.
TraHsacui a srenci-al banking bfffltaaw.
Collection atade promptly re
in ittcd. fee at liberal rates Cor.
repenaenco Invited sad la.
rerantlaa cheerfully far
Btshe4 to oar patron.
s "W. B. DORTOH, Cashier
james Mclaughlin, prosident.
HU. MoORKA, Vice-President.
bily Bp tp lstcol
Gold was fixed at 112 for settlements
in New York yesterday, there bdog no
transactions on 'Change.
Cotton was In limited demand in New
Yorkycstntay At lSfc for middling.
"Messes. Hogb,McCulloDgn and Mr. Pitt
'Cooke of the firm of Jay Cooko & Co.,
landed in New York yesterday per steamer
from Europe and learned for tbo first time
tbe suspen&lon of their United States firm.
A PICrCKE OF MISSISSIPPI.
Correspondence of the Memphis AppctU.
Meridian, Sept. 10. Crops of corn aal
cctton in the prairies are utter ftilures.
The people are most unfortunate They
are in debt, impoverished, enslaved, and
taxed as are no other agricultural papula
lion on the globe. Meridian groans beneath
'burdens imposed by multiplied govern
menta heaped up on one another, but the
State and county alone, to say nothing of
the town ard Federal taxation, exact five
per cent. Add the cost of towns and tariffs,
-and the people pay six or seven per cent of
their whole wealth annually to ofllce-hold-fcrs.
Penury stares them La the face, and
toil is so profitless that multitudes are idle.
There are two or three hundred negro
men In this viUase who hive done nothing
or months. They live by depredations
upon pig-styes and hen-roosts, and
by burglaries. Where property la thus in
eecure and thus taken it is rapidly made
valueless, and a people become hopeless
idlers. Tbe jail of the village is ever over
crowded with criminals. In fact, negroes
commit all sorts of petty crimes that they
may be imprisoned and fed at public cost.
A chain-gang is now sauntering about the
streets, its members never earning their
bread. The people know not what disposition
to make of these countless criminals. Every
negro county cai furnish Irom one to two
hundred fit subjects for the penitentiary.
But the penitentiary is already overcrowded
jhere, as inTenness.e, and the new question
Allies, as these States and counties grow
poorer, and vice and crime mere unblush
ing, what disposition can be made of thieves
and vagrants? Why may not all these
States enter into a partnesbip and transfer
Jill sorts of culprits to builders of a great
canal, connecting the Mississippi with the
Atlantic?
MEMPHIS. .
Only & Deaths from Fever Sunday.
Twelve Deaths Yesterday.
Special to the Courier Journal.
Memphis, Sept. 21. Pinch and Happy
Hollow are the localities in which a majori
ty of the fatal cares occurred to-day. But
few are reported qutside of those localities.
The deaths from all diseases was twelve, of
which but eight were yellow fever, showing
a reduction ot 33 per cent since yesterday.
A few more new cases are reported in
different localities, and one or two mild
cases aro mentioned in that part of the city
where it first broke out in 1807, which has
not, np to the present time, had a case, and
now tje two reported are mild.
"Several Recoveries Reported.
The physicians seem toilunderstand the
treatment of tbe sccurco better now. and
several recoveries are reported. A number
of persons have boarding places in the
country and eo out every night to sleep,
The trains to-day did not take away over
two hundred, and to-morrow the exodus
will hardly amount to anything. All told,
there are perhaps one hundred and sixty
persons in the city sick to-night with lever,
a majority bflng at the County Hospital,
where it first broke out. A stranger, who
had it, was placed in a ward with patients
with other diseases, and hence its spread
there.
To the Associated Press.
Memphis, Se. 22. There was a mark'
ed falling off in the deaths from yellow
fever yesterday, the total number of In
lerments befog 13,of which 9 only died from
yellow fever. Leading physicians are S3n-
cuine as to peimanet abatement ot tne dis-
ease. Tbe Howard Association Is taking
active measures to establish a general Hos
pital for the poor.
There were 12 yellow fever interments
to-day ; 10 from other causes.
1SEW I0BK.
A Counterfeit Family.
New York, Sept. 22. A whole family
named Walker were arrested in Tremont,
New York, yesterday, on the charge of
counterfeiting currency and stamps. A
large quantity was found on tbe premises,
and the materials for tbe imnufacture of
more.
A Lottery Lawsuit.
A motion was made in the Supremo
Court to-day, to dismiss an attachment of
$110,000 in the hands of Belmont & Co
beiDg a balance of $500,000 less fifteen per
cent, commission, wnicu uicnara renision
won last Msy in a lottery. ine attacn
ment was eranted at tho Buit of C. D
Whitney, who says Peniston promised him
half of his gains if ho came to New York
and helped to get tho money.
THE KANSAS BOEDER.
A linn and Ills Boy Killed Two OiH-
cera Wonnded.
Independence, Mo., Sept. 22 A terri
ble tbooting affair occurred here yesterday
evening, n suiting in the killing of one man
and tbo wounding of three. It appears Jas
J. Chilts met Deputy Marshal Jas. Peacock
on the street and slapped mm in ine lace
A fight ensued, during which a pistol fell
from Chiles' pocket which was picked up by
his sou. fourteen years oia, wno Bnoi re'
c.ck in the back, inflicting a dangerous
wound. Peacock then shot Chiles through
the head, killing him. A son of Peacock
then shot voung Chiles, wounding him fa
tallv. and Citv Marshal Farrow, who then
came up to stop the fight, was slightly woun
oed in the breast, but by whom it is not
known.
CHOLERA
Ilmrlncr at Gsccoln, Arb., and Mnch
Cotton Z.UtcIy to bo Eoat.
Special dispatch to the Courier-Journal.
Memphis, Sept. 21. Passengers who
rlvad here -sesterdav bv 6teamer, state that
f r several days past the Asiatic cholora had
prevailed at Osceola, Ark., a small town 40
miles above here, and that there were some
six or seven deaths there imaay. une ne
groes are all leaving the town, and the cot
tnn.nicbers on the plantations in the vicini
ty aro getting away as fast as they can. This
will seriously inconvenience tbo gathering
of the crop there, and unless tbe panic sub
sides there will be much cotton los
Condeuscd Telegrams.
Tho members of the Polaris expedition
left Dundee, Scotland, for .Liverpool,
pniav. on their way to New Yorli.
J. E. Smith suicided in Chicago yester
day by cutting his throat.
Tho Standard Oil Works, Cleveland, 0.:
htirned last night.
Tho Crispins ol New Fork are again on a
trlrr.
Prlnca Bismark died last
John Nasle stabbed four men, three fatal
ly, in an affray yesterday at, uuiu uu
Navada.
& i vmctanHnnnlA disnatch savs a nro
hi
Smyrna has destroyed property to the value
of $300,000. J ,
rn OanmU Southern Railroad has can
eel ed all Us contract?, owiDg to the financial
NASHYILL
iSTABLISHED MARCH SO, 1835,
COOKE'S CRASH."'
Sunday Work Jn New York.
Importaat Conference
ATenue.
at tlio Fifth
Grant and Richardson Closeted with
Capitalists.
The latter Bon!t Know what They
Want.
Yaadcrbilt Offers to Back Uncle Sam
with Ten Millions.
Nothing Definite Determined on.
At the Fifth Aycbho HotoV
New Yobk, Sept. 21. The conference
at tbe Fifth Avenue Hotel to-day in rela
tion to the best means of averting financial
disasters In Wall street has abscibed public
interest in almost an unprecedented degree.
Tbo fact that President Grant and Secre
tary Richardson, and other ttgh officials ot
the Government had come here to consult
with leading bankers and merchants, was
generally known this morning, together
with the (act that those invited to the con
ference would meet tbe President and
financial officers of the Government In tbe
Fifth Avenue Hotel during the day. In
consequence, not only bankers, brokers and
merchants were in attendance, but the gen
eral public flocked thither and listened to
the4gronps of Wall street men here and
there, discussing tho situation. The gene
ral public, although knowing little of the
technicalities of stock speculation or or tne
causes which tended to produce the present
alarm, nevertheless seemed to feel that the
occasion was fraught with Importance to
all.
Tlie Conference.
President Grant, Secretary Richardson,
Senator Morton and Gen. Babcock were
ready before noon to hear the views and
suggestions of prominent merchants and
nnanciers, some of whom bad previously
held a conference and reduced their plans
to a tangible shape. At the conference the
most conspicuous were Commodore Van
derbilt, Henry Clews, Isaac H. Bailey,
Seligman Bros., Geo. H. Opdyke, Wm. Or
ton, President of the Western Union Tele
graph Company, P. P. Sharpe, James H.
Burk, Wm. 1. Scot, of tho JSrie, Penn
sylvania, Bank; Robert Lennox, Horace B.
Clalhn, George E. S. banford, of the Ad
ams Express Company; Mr. Vail, of tbe
Bank of Commerce, and John Hoey, Presi
dent of tbe Adams Express Company.
First Plan Proposed.
First, a general proposition was made by
a committee appointed that the present
financial difficulties should be relieved by
drawing on tho legal-lender reserve. The
committee had not agreed at this time as to
the amount of such reserve which would
be probably required to effect the object
sought to be attained, rresiaent urant
and Secretary Richardson sent for many
members of tho committee in turn, and
heard their views on the subject.
After upward of an hour spent in Ibis
way, and after listening to the reading of
the written views of several prominet mem
bers of the committee, President Grant and
Secretary Richardson instructed the com
mittee that nothing could be done until
some precise proposition had been submit
ted.
The majority oi the committee proposed
verbally that the Government should, if ne
cessary, place the wnoie leg' l reserve oi
$44,000,000 In tho national depositories In
this city.
Secretary Richardson opposed tms, and
siid he was utterly and inflexibly opposed
to issuing any considerable portion of me
legal reserve for the use of the city hanks
To use Mr. Richardson's own words, quoted
on the authority of one oi the committee
"This, gentlemen, is not my funeral."
uen. want and secretary Kicnardson re
quested the committee of financiers to agree
upon their views, and submit them in writ
ing, as briefly and plainly as possible, wnat
they (the financiers) thought should be
done on the part of the government, stipu
lating that the name of each one rccom
mending tho course to be agreed upon be
appended to the p3per.
The Master of tho Situation.
The committee bad retired to agree upon
a proposition to be submitted to tbe Presi
dent and tne secretary or tne Treasury,
when Commodore Vanderbilt entered the
parlor in which the President and his
nuance oflicer wero seated, ini rooms on
the corridors adjoining tho audience cham
bers were quickly thronged with the crowd,
waiting impatiently for the exit of the rail
road king, and nervously impatient to glean
the faintest idea ot what might be the result
of his visit to the President.
Tbo Commodore's Ofler.
Commodore Vanderbilt mado a propo
sition that the President authorize tbe
Secretary of tho Treasury to place $30,000,-
"000 of the legal reserve in the banks of this
city, and on that condition he (Commodore
Vanderbilt) would add $10,000,000.
President Grant .replied that he was
anxious to do all In lils power to relieve the
present financial embarrassment, and to
prevent the impending disaster. He must,
however, conform to the Constitution.
An Excited Appeal to tbo President.
Mr. Opdyke and others represented to
President Grant and Secretary Richardson
the necessity for Immediate actirn, but they
were informed that the Constitution could
not be violated.
At this point, a Mr. L. R. Cutting broke
forth in nervous and excited remarks on the
importance of the Government taking im
mediate action on this matter. He said al
ready people have begun to surround the
savings banks of the city, expressing their
determination to wait at the doors all night,
and make a rush on the opening of the banks
to-morrow morning.
Wild Humor Spreading Dismay.
A rumor was spread with lightning rapid
ity amonc the crowd, and was generally be
lieved, tnat liranf and lticnaroson nau come
to tho decision that they would place no
part of the legal reserve at the disposal of
7. -.t 1 . i l mL!. iJ
tne JMew xctk city naura. xma creaieu
intense consternation among the crowds
who thronged tbe corridors of the hotel.
There were some who said that no decision
on the subject had been rrrived at, and that
another conference was to be held during
the evening. It was wildly asserted by
scores that all the banks in tbe country
would suspend, and that a ran would take
place on the savings banks to-morrow and
would spread commotion throughout tbe
masses of this and other cities of the Union.
Capitalists not Able to Agree..
While the gentlemen named and others
were giving their advice to the President as
to tbe course that should be adopted, and
the crowds in tbo corridors and lobbies
were indulging in all sorts cf speculations
as to the probable result of the day's work,
tbe bankers, presidents oi nanus and capi
talists were endeavoring to agree upon a
proposit.01 to be submitted. But, although
thev had been conferring till 6 o'clock, they
could not arrive at any conclusion, and no
paper was presented to tne I'resident,
A Sight Bnmor.
It Is stated to-night that, notwithstanding
the action this afternoon of rresident urant,
nnd Sacretarv Richardson, they willautnor-
Iza to-morrow thu placing of a porilon of
the lecal reserve necessary to prevent a
crash.
Jut Cooke's London lloase M!s-
trusted.
The navy account of I he
Government,
which has been wl'h Jay Cooke, McCu'Ioch
& Co., of London, has been transferred to
the House of Henry Clews &Co., London,
who aro now sole forekn and nnan:iai
agents of tho United Slates Government.
A Chicago Sensation.
Private telegrams were received to-night
hre stating that the President and fcecreta
rv of the Treasury hid derided to offer to
nurchase $40,000,000 bonds at once. Pro
minent business meu express great satisfac
tion at this decision, and believe that tho
result will be most favorable.
Utah Xarrow Gnage Postponed.
Salt Lake, Sept. 21. The flnaocial
crisis In New York is said I o have postponed
the frontier narrow gaugo railroad schemes
for monlba.
A Huge Contract.
Special to tho Louisville Courier-Journal.
Washington. D.X. Sept. 21. Tae fol
io wing is stated to have been the contract
of Jay Cooke & Co. with the Northern Pa
cific Railroad: They' took of the road$85
000,000 of bonds, and agreed to pay to the
road as fast as tho bonds were sold, 85 per
cent, thereof. They agreed, further, to pay
interest annually to the road, the amount
of the interest on bonds rerunning intheir
hands unsold, and this interest was to, be
considered as an advance payment 0" the
bonds. On the first of September last, the
interest due to the road by Jay Cooke & Co.
was over $3,000,000, and there was in their
bands at least $40,000,000 or $50,000,000
unsold.
Banking with a JVoosencss.
The investigation of the affairs of the
First National Bank at Washington has not
procseded far enough to reveal its condition.
It Is, however, generally believed to .have
been a very bad failure. A Cabinet officer
emarked to day tnat ne did not see now
this failure could have occurred without a
gross violation of the banking law, and very
severe comment is made on the fact that
this bank was the agent of all other banks
for exchanging mutilated currency, and a
policy of caution and honest dealing was es
pecially incumbent upon them. Persons
who deposit with this bank regard their de
posits as hopelessly gone, and are very bitter
on its management.
The Developments of Monday.
The Gold Exchange Opens and Shuts
Instanter.
The Gold Board Cleared,
it r '
All the Banks Foiled through by tho
Fire Millions of Loan
Certificates
Used np.
The Stock Exchange Still Closed.
Promises to Open Wednesday.
Government
Taking Advantage
of
the
Situation
To Day in its Bonds Cheap.
Twenty Millions Placed in New York
for that Purpose.
Special to th Union and American.
New Yobk, Sept. 22,8.E5 p. m. There
is lets excitement apparent in financial cir
cles this evening. Human nature could no
longer endure the strain of the pist four
days. Besides all the exciting speculation,
based on tho deluge of Richardson's re.
serves has been dissipated, the worst is
known, and nothing remains but to put
their shoulders to tbe wheel and get out of
the mira as best they may. As government
aid has proved unavailing the Banks have
discreetly determined since so they must
to run the machine without Grant or gov
ernment. Government Par chasing G20s.
New York, Sept. 22. An official state
ment Is made tnis morning, mat tne asiss
tant Treasurer will continue to purchase
five-twenty bonds in accordance with his
notice of Saturday, paying for them in cur
rency at the average prices of the sales on
that dar. Secretary Richardson said last
night that ho had the power to do more
than buy bonds, and all the five-twenties
offered will be. bought without delay of red
tape. The Government, the Secretary
added, is not a trust company or a loan
institution, and it is doubtful whether
Congress would sanction any such con
structjon of power.
Judge Richardson Takes It Back.
This language: "This is none of my
funeral." which was attributed to becre
tarv Richardson, last evening, seems this
morning to have been made by a leather
merchant, who was present at the confer
ence and who wa3 asked to state briefly the
views of the Secretary of the Treasury in
answer to his questions. The merchant
rfinlled. tr.a Secretary as much as said this
is none of his funeral and he did not feel
inclined to assistant.
Iteverdy Johnson's, tetter to Grant
Reverdy Johnson met with several bank
ers yesterday, and at his dictation a letter
"to the President was prepared. It recited
in brief the salient point of the emergency,
the want of money and tho opinion of the
best financiers of thi country that a draft
upon the currency reservo would remedy
the difficulty. The legality of such a step
might be questioned, nut tne situation, no
thought, was such tnan an excercise oi tne
supreme law cf public safety was amply
warranted. The letter iecited the two
great instances of violation of the English
Constitution in Cises oi similar emergency,
namely, the suspension of the habeas corpus
and the Peel currency act. An instance of
a more modern date was also given, that of
tho issue of five million dollars during ine
Black Friday panic oa the order of Presi
dent Grant. "Tbe people warranted you
in this stretch of power by a re-election un
naralled in the history of the country," said
the letter in conclusion.
"Tho letter had great weight with the
President, but tto question of the issue of
tho reserve to the city banks was decided in
the negative. Notwithstanding, after the
.'etter was read by the President and Secre
tary Richardson, faenator Morton met Air.
Johnson and tne latter said to tne senator:
"I have reason to bel eve that the Sub
Treasury act, which alone regulates the
Dower to designate depositories, was re
pealed by tho act of July 3, 1860, it is a
short section and had escaped my notice
until to-day."
To this Senator Morton mado answer:
"The question with the President has been
not so mucn tne legality oi tne step, obj
retary Richardson has affirmed that all
along. How to get tbe money Into the
banks has been the real difficulty that finally
decided him in the negative."
Snnday Work at tbo Clearing lloase.
The managers and clerks of tho Clearing
House were busy yesterday nnismngnptne
work of Saturday. The work was unusu
ally heavy from th6 feet that the Fourth
National Bank had certified to six millions
Saturday, about-slx times as much as they
ordinarily do. and somo other institutions
in proportion. Tee Clearing House com
mittee dttermined yesterday upon carrying
out the proposition made Saturday, that
checks shall pass as greenbacks. Any of the
banks that aro short of currency have the
privilege cf depositing their Government se
curities as collateral, or seventy-five per
cent on their buls receivable, which will be
taken as money at the Clearing House.
10 A. 31. Yesterday Tbe Union Trust
Company Fall to Open.
The following notice is pasted on the
doors of the Union Trust Company: "This
ics.itutlon is in tho hands of a receiver. A
statement of its affairs is being prepared
and will soon be made public. Depositors
are cautioned against ssenncing their ac
counts." At this hour, 10 o'clock, it is not
opened, and no probability that it will be.
A better feeling prevails this morning,
but there is no telling what an hour may
bring forth.. The following notica has been
issued: "The New Yoik Stock Exchange
will remain closed to-day. A meeting of
the governing committee will be held to
morrow morning at 9:30 o'clock."
10:10.
The Gold Exchange has closed the samo
as the btock Exchange. 112 has been ps
tabli3bed as the basis of settlements. Tbe
room will remain open for the purpose of
settlement. The rate of interest is fixed at
7 per cent for carrying. A run has begun
on tbe Seaman s Savings Bank on Wall
street. .
The following notice is posted in the Sub
Treasury: "Purchases of United States
bonds, to-day, will Include all tbe different
series of 5-20's. Payments will be made in
currency at ih9 rato of 110-72, and accrued
interest in coin." Already fifty thousand
dollars worth has been purchased.
II A.M.
The Sub-Treasuier has bought one rail
lion in bonds. Large crowds aie waiting
to sell.
Shotting Down on the Poor 3Xan.
The Seaman's Sayings Bank ha decided
M TOTONND AM
NASHVILLE, TENN., T0E8DAY, SEPTEMBER
to pay on demand sums of one hundred
dollars or under, but notice of thirty days
must bo given, as the charter allows, before
larger sums than one hundred dollars will
be paid. It is iiaeiy an tne savings oania
will coma to tfce same decision, although
as yet no official statement has been ro
ceived from .he np town banks on tbe east
side, which is inhabited mainly by working
people; and the run cn savin. s hanks is
greater than in other parts of the city.
soon.
Gen. HUlbouse, Assistant Treasurer, re
fuses to buy government bonds from indi
viduals, as the clerical force of the sub treas
ury Is inadequate to engage In such transac
tions. He will only buy from banks. Up
to noon almost $2,000,000 worth kad been
purchased.
"Palling Through."
Mr. Camp, of the Clearance House.statcs
that .all banks have pulled through except
two, and thoso are now settling tnrougn
the loan comml tee. Wall and Broad
streees and lower part of Nassau street are
well filled with people, but all wear a quiet
er aspect than was" presented Saturday. Tho
Clearing House loan committee have issued
$2,500,000 of loan certificates this morning.
Mr. Pitt, of Cook &Hugh McCullougb, ar
rived In the steamer Egypt, and are expect
ed at the office of Jay Cooke & Co. by one
o'clock.
The clearing house statement shows that
all bsnks have made their clearings satis
factory, iucluding the two previously re
ported as Eettllng tnrougn tbo ijoan com
mittee. Tbo general feeling Is decidedly
better and there is considerable inquiry, in
a quiet way, for stocks, persons.being wil
ling to pay greenbacks lor tne dividend
paying shares.
X Mr. is.
The run on the savings banks has
ceased. There Is hardly an average amount
of withdrawals taking place, and it is stated
that there is no feeling. Only two hundred
thousand dollars' worth of bonds were
bought at tho Sub-Treasury since 12 o'clock,
.a considerable falling off in the number of
sellers. Tbe loiiowmgcasn oiasiorstocKs
were made on the street, Central 05, Wa
bash 50, Rock Island 88 to 90, Western
Union Telegraph 72.
All foreign marKets are strong witn a net-
ter feeling. An advertisement of the Com
mercial Adtertiser that certificates of the
Continental Bank wero thrown out in the
Clearing House Saturday was an error,
caused doubtless bycoofounding It with the
Bank of the Commonwealth.
A Modest Deficit.
A. D. Williams & Co., overdrew their
account in tbe Bank of North America to
the amount of $450,000. To-day tho firm
deposited securities for $2o0,uw, leaving
$200,000 still due. The bank authorities
are now engaged in endeavoring to compel
the payment of that sum.
GoodKews for Farmers.
There was a cedded improvement in
business at the cotton and produce exchan
ges to-day, and tne general impression
seemed to be that tbo breakers had been
passed and no further danger to be appre
hended. Tbe prospect is considered cueer-
lne. The business of the Savings banks to
day was somewhat heavier than that of
the three days of the past week, but that
is always the case on Monday.
Sight Dispatches Cnrloklty Mongers.
Wall street to-day presented a most extra
ordinary spectacle. It would be difficult in
tbe necessarily brief limits of nowspiper
reports to give a correct idea of the excite
ment wnich prevailed, but tne excitement
to-day was apparently of an entirely on-
ferent kind to tbe intense anxiety observ
able Friday and Saturday, which had its
origin in tho condition of univcnal panic.
The streets, that i3 Wall street, Nassau street
and Broad street, were cowded. It was
difficult for a pedestrian to thread his way
through tbe different groups which occu
pied the streets and inside walks. Tbe
most striking feature of the scene was that
the masses to-day were spectators, whereas
on the last day of the preceding week every
one was rnshing hither and thither fighting
and struggling to make his way to tome
bank or brokers onice. xnis morning
everything to the outward eye was calm
and quiet and or tno tnousanos oi persons
who blocked tne streets, tne tno-ireasury
steps and other places from which a view of
he nelghboruood could De secured, proDamy
one half were drawn to the spot by curiosi
ty alono. The conversation on tbe street
was not so excited as it was 48 hours ago
and there seemed to ha a general impres
sion that a better state of feeling existed
and that mutual confidence was likely to bo
reestablished.
Popular Opinion of Government.
The opinions expressed concerning the
action of tbe Secretary varied greatly, as
was naturally to be expected. borne
thought the panic should nave been allow
ed to work itself out: others thousht
that the Government ought to have come
more directly to the aid of the struggling
brokers; others again, that tbe wisest
course bad been adopted and tnat tne
worst was over.
Notwithstanding the calmness of the
majority however, there were, not lacking
certain hot bead! wbo unnecessarily circu
lated rumors calculated to 'do great mis
chief if they gained credence. Confidence
increased as tho day advanced, and about 2
o clock there was
A Sudden Shrinkage
of the lines at the Paying Tellers' windows
at the banks and banking houses. Tbe
heavy business done all day has been
despatched with all possible speed and as
soon as knjwn among merchants the pur
chase of bonds was uninterrupted, and the
rule adopted by tbe bavlngs Banks requir
ing 30 days' notice for the withdrawal of all
large sums was auopieu witnoui any uis-
tnrbance. At any bavings Banks tbe cer
tiflcatlon of checks was not pressed, and it
was evident depositors wero beginning to
believe the storm had passed.
Mercantile Generosity.
The Commercial says it is due to tho
large houses to say that during the excite
ment of the past three days and to-day, no
large amount has been drawn from the
banks except those actually necessary to
dally business. It has been a generous
principle of helping the banks through the
difficulty, and to tnis fact may be traced tbo
ability of many of them to pull through the
fearful siege wmcb nas been torced upon
them by tho complete demoralization which
came without a word or warning. Tbe
failures in the street have been failures of
necessity of the strong stringency In which
the means of tbe heaviest nouses wero un
availing either to themselves or their noigh
bors, and the anxiety among brokers is not
for now business so mucn as for a settle
ment of tho differences and an adjustment
of contracts. A few more small houses may
go under, when tbe final settlement is made
Still it Is believed tbe recent stress swept
away most of tbo weak brokerage nrJJS.
No embarrassment is expected of pii?ate
banking firms wno nave sustained tbem
selves through the late crisis.
Tho Confidence Han.
The suspension of tho Union Trust Com
pany is generally attributed to the default
ing secretary's neglect to can in tbe s3,vuu
000 loans ordered Thursday. According to
general report, ho completely lost Ids men
tal balance and showed no disposition to
submit tbe affalrs"bf tho company to Inspec
tion. His whereabouts are still unknown
It is a little remarkable that only one of
the Trustees bad any money on deposit in
tbe institution, and that with tho exception
ot two or three they owned but very little
stock. This may account for the bad man
agement of the concern.
Only 1'onr Bullions.
The National Trus; Company, which sus
pended payment Saturday, states that tbeir
HaDlllties oo not exceeu iour minions, ana
that the assets of the compjny exceed their
liabilities. Tbo day closes with confidence
greatly Improved and a general opinion that
the crisis Is over. There seems to b9 no
reason why all the banks should not go
along in a quiet and regular manner.
The Situation. Elsewhere.
Xho Feeling: in JLonrion.
Loud OS", Sept. 22,-6 v. m. Much anxi
ety is manifested on all sides to hear further
news from Xtew j:o:k. jay ucokc, jiic
Culloch & Co. continue to pav cash in the
usual manner over their counter, and tho
run on their house has ceased.
.Depressed.
Lomdos, Sept. 22, 5:20 r. ai. The dis-
patch announcing the closing of the New
York Gold Exchange has just been bullet-
iced,- This news is accepted gta an na
tion of the gravity of the financial 8ww"u"
and the market for American' securities is
again depreieed.
Phllailelphla.Qslct fcuowH.
Sont. 22. Philadeipnia
banks have taken no action with regard to
issuing certificates in place oflegal tenders
for settlement at tho Clearing Souse . There
is a much better feeling on the street to-day,
notwithstanding wild 'mmora tom wr
York of suspension oi au
Thera wero feelings of distrust manifested
when these ratnors reached here, -jut tneir
denial soon fmade matters quiet, and the
Stock Board'jbecame firm. tdo". ,
savings banla ks ceased, and the National
- D . ' . 1 ,lnni.TlH fur
.banks experience no uuuauoi umm-"-
capital.
Khu OH.Cblcsgo Savings uaiin--nmninn
Rant. 9.3 There is conslder-
ablo of a ruu'ensome of tho savings banks
here to-day .They are sobering tq, uie
resolution adopted neto yesieruy
back upon th3 thirty and sixty-day rule, and
are only paying sums of less than $100. The
largest assembly appears to be gathered at
tho Stato Panking Institution but so farthe
crowd has been very qulst and orderly. The
latest reports, public and private, from New
York, appsar to have had an effect to lessen
tne anxiety wnicu was maniiesi. iuu mum
ing among mar-y bankers and business
men. i
Westers Grain Haricot. Stalled.
MiLWAUKsk Sept- 22. The Chamber
of 'Jommerci at balf-past twelve to-day
passed a rtjsolution to adjourn until
Wednesday, and noueliveries of grain shall
be made whita th8 Chamber stands ad
journed. It was also resolved that no trades
in grain made between members during ad
journment shall be recognized by the Cham
ber.
Arkanas "JIoboj" A Tempest la a
Teapot.
Little Rock, Sept. 22. On account of
the financial panic North,the banks here to
day refused to take city money, (a home
currency which has been in circulation at
par six years) and as a consequence the
greatest excitement prevailed. This money
nas always been received tne same as green
backs, but tbe refusal of tbe banks to Cake
It this monrng created wild excitement. A
meeting of citizents was held this evening,
at which it was resolved to take the money
as usual. Tbe general impression is it will
be over by to-morrow, and the money be
taken as usual.
Buffalo.
Buffalo, Sept. 22. H. W. Burt & Co.,
private bankers, closed this evening.
Pittsburg.
PiTTSBUBO, Sept. 22. James T. Bradley
& Co., bankers, and the Security Trust
Company, of this city, suspended today.
Washington.
Is Eicliardson Using the Beservesi
And Furnishing: Food for Fresh Spec
nlatloa?
Wasbtngtoi, Sept. 22.- The P4esldent
and Gen. Babtock returned this morning
and registered at wulard's Hotel. In the
course of the mcrnlng the President called
al the Treasury Department and had a con
ference with be:retary Kicnardson. une
result of it mas be inferred from the fact
that subsequontly the Secretary stated that
the President wll do anything within the
law, but in no pirticular will ne go oayond
nis wear ies:ai ausuuruy. xau win uiamutm
the safety of tho Treasury Department and
protect the credit cf tbe United States from
the Influences of the present financial em
barrassment. In auswer to inquiries, notn-
in? was elicPed to strengthen the report
that action will bo taken In regard to placing
part of the lecal reserve at the disposal of the
New i ori city Dinns. Treasury nas a sui-
flcient amount of currency on hand to meet
all legitimate demand.
820,000,000.
The President had an. ther interview of
more than an hour with Secretary Richard
son at the Wbito House this morning, at
which Secretary Delano and Postmaster
"General Cresswell were present. It has
been decided to send twenty millions from
the National Treasury here to Assistant
Treasurer HUlhouso in New York to-n'ght
to enable that officer lo buy all the bonds
thatmavbe offered. The President feels
enronreged at the news to-day and will bo
ernided v circumstances as to whether he
D ... . " . ... - . -r!-i .1
will iea7e to-nient. oecreiary lucuarusuu
has been receiving telegrams from JNew
York ever few minutes during tne oay
costing him as to tne condition oi amirs
there.
Aa Evasive Answer.
In reply to interrogatories this morning,
he said cvervtbinz was more encouraging,
and the government would buy bonds just
as fast a3 they were presented. He has
plenty of money and would give It out to ail
who come with the'r bonds. When the
question was asked whether or not this
mnnflv to rav ior oonus wouiu coiuu iruui
the legal reservo, he answered: "Never
mind about that; I will attend to getting the
monev. Tho Government 13 all ngntand
intends to keep so."
Official Contradiction
The Secretary of tho Treasury contra
dicts the statement that the Navy account
ho been transferred from the banking house
of Jay Cooke, McCullongh & Co., In Lon
don, to Otews, liaDicnt b kjo., ana aeciares
that there i3 no intention of making such a
transfer.
Relaxation.
The President and his Cabinet, with Gen
Dberman ana tne juvisruur ui .luaiyiauu,
have signified their intention of attending a
. ... r- ir...T.nIi
fair to be held at Westminster, Md., on tne
1st and 21 cf October.
Sen Yorfc Stocfe Exchange opens
Wednesday,
Secretary Richardson received the follow
lcg.dispatch from New York to-day:
?Mnreantile business progresses as usual
Wall street Is clearing itself. The people
ioin in congratulation to the President and
Secretary itiCDardson ior meirsiauuHy. iuo
. . r .1-1 1 . l 11 ! . n-1.
Slock Kxcnango wu: ne opened .veaces-
Hav"
Tho ran on the Freedman's and Wash
Ington City Savirgs Bank has nearly sub
sided.
Tbo Kavcnno .Distiller.
Jonathan Merriam has been appointed
Collector of Internal Revenue for the 8th
Illinois district, vice Harper, suspended.
Grant Smells a Rat.
In an interview with Dr. Blake this after
noon the President said tnere nad oeen
much taltc of cornmtlou and stealing in the
District government and he had selected
Dr. Blake knowing him to be one of the
mnut consciencious citizens of Washington
in the hope that if anything were wrong it
wnnldba nromntlv ferreted out and re-
norted.
The President will leave here to morrow
mcrnlng for Long Branch.
Tho Panic Over.
In conversation to-day, Secretary Hich
ardaon stated his belief that th9 panic
wa3 now at an end, and that there need be
nn fnrtbpr nnnrehansion oi trouuie. no
had no fear of any wide spread disaster re
suiting, for this country is in a very prosper
ous condition, which was shown by the fact
that thronahont the canicthere was no call on
the National Treasury for assistance, except
from New York, a slight one from r-nuaoei-nhla.
snd Rtlll less from Washington. From
thn West and South there had been no re-
nnp.sk fnr aid. and ha had ro idea that there
would be. Ho further stated that the
Government would continue to purchase
bonds as long as persons would bring them,
but did not suppose they would be offered
many days.
Treasurer Spinner h is very sick with
malarial fever.
broSers.
Slim Vroxnect of a Fight TcDay
Sr. Lodis. Sent. 22.-Mlke McCool was
arrested late last night at his training quar
ters, outsjde tho city, and Tom Allen was
arrested, early this forenoon, several miles
south of the city. Both were brought here
and put under bonds of a tnnisanu uouara
each to keep tbo peace. Jack Looney and
others having charge of tho fight, Bay this
will not interfere with the mill to morrow,
is thn mntpst will coma off somewhere in
Illinois, outside cf tho jurisdiction oi tne
' Missouri authorities.
.
1
23, 1873.
NEW
No. 8 City Hotel Block
MORGAN, THOMAS & CO,, ;
NOT!
WMte Good,
CLOCKS, WATCHES, JEWELHY AND TOYS.
Oar Fall Stock is Complete, and will bo Sold at Wnvr Prices and
IKBT MOHGAN, JAS. W. THOMAS, W. C. DIBRELL,
J. Ii. THOMAS, F. II. QOODALL. .
NEW COTTON FIRM
The firms of S. 3. SPURLOCK & CO. and W. E. HOKE have this day entered into a copartnership as Cotton Faciora, under
PURXjOGK, HOKE & GO.
MESSRS. GEO. J. GOODRICH and W. E. HOKE, of the abOTe firm, will Mva thn nnttnn Tmalnem
specttully inform tbo friends of tho old Cms and thojpabllc teat we hare unsurpassed fnrlHrlaa for
we are prepared to gi to satisfaction. " ' -' -
We avail ouKelvcsofthls occasion to return thanlu to our pat
pared to give our attention to consignments of Wheat and Country Produce generally. On hand, a
we can furnish at lowest market rates. Liberal advances made.
S. B. SPURLOCK & CO. will continue the Wholesale Grocery
meir uiu siana, no. ss corner College ana
snpll lm lstp
FOKEXGK
Spanish Republicanism lapses Into
Martini Eavr.
Madbid. Sent, 21. The government
has Issued a proclamation suependlng the
constitutional guarantees, and regulating
tho press throughout the country. I his
action and the occupation of Malaga yester
day bv Gen. Pavia, have restored public
confidence.
Alicante in Danger.
Madrid. Sept. 22. The entire British
fleet in Spanish waters is collected in the
harbor of Alicante, which city is threatened
with bombardment by an insurgent iron
clad. The British Minister has demanded
of the Insurgent commander a postpone
ment of hostilities for fonr days, and la sup
ported in bis demand by all the foreign
consuls.
The Governor of Alicante has refused
the summons cf Cabreras, who commands
the Insurgent man-of-war Numancla, to
surrender and acknowledge the Indepen.
dence of Cartegenia. The citizens approve
the Governor's action and are organizing
for defence.
Tho Coining Crusade.
BEnL.nr. Sent. 22. It is rumored that
one of the objects of King Victor Eman
uel's visit to Prussia is. to nave an uncer
standlnj? with the Emperor for joint action
against posible French aggressions, and to
prevent tne election oi a irencn uura juuu-
tane lo inei'apacy.
Feace Policy.
Paris. SeDt. 22. It Is reported that
Count da Chambord has given his support
ers assurance of a peaceful policy, especially
with reeard to Italy in case ne s noma do
placed on the French throne.
Bloody Blot In St, Edmonds.
Lovdov. Sent. 22. A desperate conflict
tnnk nlaM iii Bnrv. St.Edmonds. yesterday
between a mob of Irishmen and a body of
policemen. The officers were compelled to
mo thpir clubs visorouslv and did not sue
ceed in dispersing the rioters until many of
tlipm had received severe lmuries. xnere
is jn-eat excitement in town, and a renewal
of tha disturbances Is apprehended. While
tbe rioting was in progress eeverai nouses
wero attacked by the mob and wrecKeo.
Spanish Steamer Detained at Dover
Tho SDirish steamer Muriuo, wnicu ran
down the emigrant ship Norlbfleet, having
arrived to-day at liover, nas oeen aetaineu
there by orders from tne Admiralty.
FLORIDA.
Terrific Storm at Tallabasse.
Two Villages Swept Away.
Crops Rained.
TT.T.ATTAssE.Fla..Seot. 21. A terrific
Rfnrm nrevailed througout this section of
rnnnirv rnaav mumiut:. ooium "uivj
. , J DA.n.nl afni-Cfl
were nnroofed. three or four houses blown
down and several others badly damaged.
A trrnat number of gin houses were destroy
ed. The crops ara considered ruined. Three
or four lives were lost and several persons
wnnnrfpil. A Iarea number of came, etc.,
were killed. The roads are blocked by fallen
irons, and the telecraoh wires and fences
ora ilnvn fnr miles. The lOSS in this COUU
try is immense. Janltmarks was completely
wnsbPd wav. onlv two houses being left
stand nf? and twenty iamines nomeieaa,
Newport is also reported swept away.
SHREYEP0RT.
The Epidemic Still Increasing
Over Twenty Deaths Yesterday.
Onr.nAus. Sent. 22. A Sbreveport
anopiai tn ihA Vicavune savs the fever there
has not abated. The same proportion of
deaths to population in New Orleans would
ha a thousand oer day. The weather this
morning was very unfavorable, chilly and
Thn nnmbar of new cases in tbe heart of
the city are few, becanso all persons
nmonMhin nf tho disease have fallen
TrJMims knit. It is snreadine in the sub
nrbs. There are two young children at the
kha Howard Assoca'.iou
without father, mother or other relative, all
bavinc died. Many sucn instances tu w
mentioned.
It i3 raining at 1230 p. m.
The eoidemic is on the
increase, 20 interments up to & p. m , ana .
nnmhor nfiipsihs sines, among them, Dr,
Wise. The number oi new cases repur.cu
to-day exceeds that of any previous day.
Mantr irim hava considered themselves
.fp nra hpimr attacked. Tho colored pod
Viopnminf alarmed. Fonr were
among the interments to-aay, eigut coiureu
UiablUlA uv.w-.-D ,
cases are reported to the Howard Associa
tion to-night.
INDIANS.
The O tinkers' Pets on a Rampage.
Pii.on ttavsas. Sent. 22. Two
n,orniro Indians named Cochran and Dorr,
went to the it sldence of Sam Hapgood, an
tha Atlantic and Paciuc Kail-
road atVenita, Indian Territory, this fore
no-mand began firing revolvers, ssyiug""
intended to Jiill some white man before
leaving town. No barm was done to Hap
good's family, but a few minutes after, and
o . .. .. t .'., .,iil of tVin hnnsp. a
wniie me maiana were
well known white citizen named Jas. Mor
rill approached, uoenran aau uuu
and met him, and alter a law worus,
s-ld'Heis a damned wbite man; lets
kill bim." Thereupon Cochran drew a
pistol and fired two shots, one of which
passed through Mo rill"s body. Morrill
fell, and white down fired at Cochran,
wounding him in tbe arm. Cochran then
fired at a small boy standing by, but with
out effect, and then he and Dorr fied to the
woods. Deputy United States Marshal
Johnon, with a posse, started In pnrsuit,
o nnmber of the citizens are now
thn wrxv's for the fugitives. If
the murderera are found they will be killed
at sight. Morrill died this afternoon.
ERICAN
SERIES NO. 1,577.
WHOLESAJjE
O
Underwear, Sliirts and Ribbons.
A 1ARGE ASi?ORT3E3T OF
tno name and style ot
SPURLOCK, HOKE & CO.,
Kosw 80 aad OS SoatU College Street.
PRINTERS AND
A. B. TAVETi.
WM. E. EASTMAN.
TAVEL. EASTMAN & HOWELL,
PUBLISHERS, STATIONERS, STEAM PRINTERS
AND
MANUFACTURERS OF BLANK BOOKS, -
Are constantly receiving; supplies of
pins Paper of every description, Invoice nad Letter Books. oldr -Steel
Pens, Fluids, eta, all or which they are
Selling; at the LOWEST PRICES.
3KTo, -as xnxrioia" stusst.
my25 lylrtp
WIIOLESAXE
DRY GOODS AND NOTIONS,
KASHYlXIiE, TEWS.,
Arc now In receipt ot a EAUGE STOCK
to ivhlch they Invito the attention
SarT.3,1873.
HUGH IOUMiAS & CO.,
JOBBERS OF
DRY GOODS AND NOTIONS,
53 PUBLIC
We have now In Store a now and well
Invite the attention of the Trade.
sepll eodlm
PRACTICAL
AND MACHINERY
04 SOUTH. CUEBItY STKEET,
So.
3IAHCFACTUEEU OF
STEAM MUm, SHAFTING AND PULLEYS
PARTICULAR AND PROMPT ATTENTION GIVEN' TO ALL KINDS OP JOBBIBU
Work, and -where tho bill exceeds tha atnaunt of $50, tha work will be done at Cincinnati prices.
Pull lines of Patterns always on hand, anil two Pattern Makers constantly employed. Mill Ms
chineryandPalley8 a specialty. mhls eodjylstp
WHOLESALE
100 Barrels Old Kobertsoa Connty Whisky;
SO Barrels Old Lincoln Connty WhlsUy;
SO Barrels Old Bonrbon WhtsKy;
SO Barrels Old Kyo Whisky;
25 Barrels Old Peach and Apple Brandy;
25 Barrels California Grape Brandy;
25 Barrels California Port Wine;
25 Barrels California Sherry Wine;
25 Barrets Angollco Wine;
25 Baskets Champagne;
SOO Boxes Clararts;
OO Cnddtes 'aobaceo. all binds;
SO Caddies Elide Ned Tobacco;
00 Caddies Loy Cabin Tobacco;
Andalargeawortnwntof PJSE3U CANNKD UOODJ,allof which will bo sold t'
wholesale .
. DIXLIN, WIKSTEAD & WAVE,
ap23 eod till feb!3,7I lstp SO North College Street, between TJnloc and Square
WALL PAPERS,
France, England, Germany and America All Represented
JOHI W. MJDuSa e&
PROPRIETORS OP THE
Manufacturers' Southern Depot
Wholesale and Setall Dealers In
WALL PAPERS, WINDOW SHADES,
Window Cornicea. Picture Frames, Mirrort, etc., azainretnrn thanks to the public for the liberal
patronage extended to them, and announce with pride at they are still on duty at their spacious
WMeRooraa,wheretheyd8fyeompetition,andoirer thetradeat manufacturers' lowest prices
the largest new stock of Wall Paper, Window Shadw etc, south of the Ohio. Our stock is repleto
with the latest and most beautiful designs recently imported diroct from the Old World: and ws
resrctfully invite tho trade to call and see our new goods, which we now positively offer for!es3
price than over berbre offered in the South. We have a corps of tho mot competent PaperHangeil
employed, who will do their work in the beat style for tho same price demanded bv inferior workmen.
Don't fail to call. JOUn W. HILI. & CO., 22 South College Street,
Jan5 ly eod Between Church and Broad, Nashville, Tcnn
AGRICULTURAL
A. H. PEBI3TK.
A. M. PBHINE & GO.,
KENTUCKY IRON, HEAVY HARDWARE,
WAGONS, WAG OH MATERIA!,,
AGRICULTURAL BIPLESIESTS MS FIELD SEEDS,
Nos. 18 and 20 South Market Street,
feb20eodly
NASHVIEEE, TENN.
CJBDEKKY, 'eOrE2& CO.,
Tennessee Agricultural Works,
AND STOVE AND HOLLOW-WARE FOUNDRY,
Soatheast Corner Clinrch and College Streets.
TITANUPACTURERS OP WAGONS. CARTS, WHEELBARROWS, DIXIE PLOWS, FOR
1VI nitnwi. moth-Droof Cedar Chests and Cedar Wrdrob8, etc. Rock work furnished toorddr.
Onr ''Tennessee Wagon" 1 rapidly taking the lead in this section and South of here. Wenie
nonobut the best material in our work, and are determined to make it equal to if not superior to
any wor in u,o u .u.,.,
Qnr "Dixie Plow" Is fully dfty per cent cheaper
service. We furnish all Mnas or now vasunK
jade here, and wholesale dealers at other points.
NO ONE INTC1TT f BDB
SHOULD JWHaOWT THB, .
DAILY UlVIQff AflD AMEMCAl
WHEN IT
OENTS WEEK.
N S!
ea Liberal
,
Terras.
sep9 3m lstp top col
tfcntr nniim nnrsssal attestIoa. Wore
hanilHlngiftirWftri i!SUcaaararexth6tbatL
-
Having ample room, we ara pre-,
large stock of -Bagging, Ties, Rope, etc., which,
and Commission Business at
Broad.
STATIONERS.
B. H. HOWELL.
Envelopes, Writing; and Fine wrap
DEAXEK3 IS
OF GOODS for their FAXE TRADE,
of Merchants visiting this city.'
sep4 eodlstp tUUnhi!,
.3
SQUARE
assorted FA EE STOCK, to which we
MACHINIST.
OP ALL KINDS,
- - - XASIIY1ELE, TESTN
GROCERS.
cheap
ETC., ETC.
MACHINERY, ETC.
L. H. HITCHCOCK.
,k , m, r.t
than
at iow
rates. -Extra inducements oaarea ra
raj3 d2taw6m wedSfx

xml | txt