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Show ! THE FINANCIAL CRASH. I - , The Kllecl ou Trade. ' Xow York, 2-j. One of the mos i s-'rious rosnlLs of the money panic ir 1 Xew York is tbecfleet on the expor ; trad p. It is st-itod thnt the shipping i trade, for the present M letist.is pnra lyzttl, n ml that a large number o j ocean steamers, now in port, will Ie 1 oti(rel to leave for British parts with- out conpigiimcntti of grain. It was , expected they would Uike this eotirat J owing to New York shippers, whr had made engagements for the transfer trans-fer of large quantities of grain from the west, oeing unable to negotiate bills of exchange on their European consigners, through any of tho regular regu-lar channels, the results being that large quantities of grain cannot be moved. In other cases grain and commodities, transferred to New York, now lie awaiting shipment, the local shippers being unable to negotiate nego-tiate bills of exchange on European houses for payment of frieght. It is also said that some ocean steamer companies had actually oflcred to sell their bills of exchange on the street to get freight, but could not get prices to warrant them in selling. All the steamship companies com-panies complain that the export trade lias been seriously injured, and say if if the panic continues, and something is not done to relieve shippers, the efi'ect on all steamship companies will be very serious. They consider that, if arrangements could be made so that shippers could negotiate their bills of exchange pending the relief in the money market, all would be well. A meeting of the members of Commerce Com-merce will be held this afternoon, for consultation relative to financial affairs, and to take such action as may be deemed advisable to re-estab lish public confidence in trade. Chicoco Still I'licnsj-. Chicago, 25. The uneasiness in financial circles still continues, and although there-are no positive signs of entire suspension on the part of any ofour'banks, the depression and distrust dis-trust has developed to such an extent that payment is refused on all checks, except those calling for small sums. Drafts on other cities are taken in for collection only, and are not cashed even on tho most unexceptional securities. secu-rities. The scarcity of currency is beginning to be sevorely felt, especially especial-ly among the laboring classes and it is feared this will engender a feeling of animosity, against the savings banks in which their deposits have been made, which may result in a genera! run. As one result ofthefinan-cial ofthefinan-cial embarrassment it is stated tiiat the acting mayor of our city has ordered or-dered a suspension of all work on public improvements, a course, which if the tightness in the money market continues, will cause much suilering among the employes of the city, and others of the working part of our population. |