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Show LATEST DESPATCHES.; (i;y W. L'. Ti-lcgoii i.e 1H FiNANcrAL CRASH. ( liic;;go I'.,.nks 1'ousiderctl Snuinl. Colbauglfs Suspension' Censured : uteri cau Secnri ( if s Flnt in ' I.ttniioii. ' YU-aji StrtM-t Los Excilei!. . TifE" ' fLNERAL: 'OUT - LOOK. ' ,..ffll (o :hf lli uu.ii.) Chicago, It is just allnouuo.d, ) that tho Union National, Second Xa-; Xa-; tional, and Manufacturer's National Banks have suspendid. A notice on the door of the former says the .hank has abundant securities, but is compelled com-pelled to suspend payments, on account ac-count of lack of currency, until it is able to realize. Nothing has been lost from failures, and depositors will be made safe. Tho Cook County, City National, and NationsBank of Commerce have followtd the example of the Union Nation, and closed their doors. There was a run tor an hour on tho Corn Exchange Bank, but as everything was paid the run soon stopped. Some who drew have rcdeposilcd. Tho bank is considered very strong. Other National Banks arc paying regularly. regu-larly. There is considerable excitement ex-citement among business men and the grain trade shows the effect of jiit. Colbaugb, President of the union -National, is severely consureu by other bankcis and the whole of j the community tor taking an extreme course wholly unnecessary. It is suggested sug-gested that there must be Something Rotten i In this bank, though it has been re- I ga rded as very strong. j New York, 2u Tho governing j committee of the Stock Exchange j have decided to keep closed. Gold opened at 111 and closed at 14. Washington, "G, Fant fc Co. post- j cd a notice on the closed doors of j their banking house, to-day, saying: V We are compelled to suspend pay- I ment for the present." I New York, 2G. Tho governing committee has decided to give twenty- . four hours' notice of the reopening of the Stock Exchange: ! Howe it Maey have issued a circular circu-lar to their depositors saying : " We propose to continue our business as usual by receiving special deposits in trust to new account, pledging ourselves our-selves to use these deposits only in payment of our respective checks against the new account, and as fast as we can collect and realize from our loans and seeurieties to pay you pro vJa installments on our present indebtedness until the whole shall be liquidated, the same draw-' draw-' ing the usual rate"" of inter-I inter-I est nnlil paid. :If this plan meets I your approbation and your will, go hand in hand with us in this cxtra-; cxtra-; ordinary emergency.". , . SeHiitor .ISorton, Being asked his opinion as to the present financial panic, said that his conviction was that the worst was ' over. - ''I do not expect the affair to subside all at once," he added, "but my feeling is ontircly hopeful." Referring Re-ferring to the suggestion that government govern-ment ought to come to the rescue, he said: '"The government will do all it ran, biti li must nni go bt-vund the-law." the-law." View York Drained. ' "New York, '2u. The city is being drained of money at a pretty lively rate. Since Saturday last the out going go-ing moneys through the Adams express ex-press have been about $1,500,000 daily, while that coming in, exclusive of what went to the treasury. amounted amount-ed to about S'iOO.OOO. Tho United Suites Co. have been sending out from $700,000 to $800,000 a day, for several days past while receipts through that medium are very small. The National Express Co. is carrying away an amount about three times as large ns usual, nt this season, and the American Express Co., is doiny likewise. Toledo, ' 2G. The failure of the banking house of Kronse k Smith is announced this morning, an assignment assign-ment having been made after bank hours yesterday. London, 20. It is believed that the heavy shipments of gold to America, already reported, are not made in consequOnce of the low nominal rate of exchango, but to settle the liabilities liabili-ties of bankers here, incurred before the financial troubles in New York began. Charleston, 20. The People's Bank! of South Carolina and the Loan and Trust Com pan have suspended currency cur-rency payments. The National hanks and other State banks pay ;ts usual. - " Amerii'iiifr Scrnrilie.-. London, 20 (:"0 p. m. American securities arc excited, with largo business busi-ness doing at wide fluctuations. There is much uneasiness in the market. mar-ket. : t'.-S. T-20 bonds, ti.Vs. sold at 01 i; uT'ssold At 93; 10-10's, 1XH, and new fives nl ill 4:45 p. m. The market for all American securities is flat, and prices have declined heavily. New Yo-ik, 20. Several parlies are short of gold and refuse to pay half per cent, for borrowing, consequontlv there is a hitch in tho clearance of gold at the gold exchange bank. Scattering the Kroner.. " Now York. r-l; The srene in Wall "street was nmcli "frss cxiTrcd to-day. The crowd ot" brokers who hitherto blocked up Broad street in front of the Stock Exchange was much less than in the morning, owing tu the encr-gttio encr-gttio action. of the cap: du of i the second precinct, who directed ! his men to disperse all groups which threatened to interfere with sidewalk I traihe- Tho brokers were, by tins i means, driven into the road, but they j fared no better here. The police or-i or-i dered trucks to be driven through the ! crowd and so ccmpelled the broker; i to scatter in all directions. Prive-n trorn Broad tired some of the most j inveterate speculators and curh-s!"ne brokers adjourned to the OVkl Exchange Ex-change court and held There for about fifteen minutes, when .the sergeant of the police, with half-ik-thfcii . men, -drove them belter j skelter frum LhcJr refuge. The general feeling amung the brokers appears to be more hiem! than on the previous day, although, there are. of course, many who Persist Per-sist in regarding the situation in its blackest aspect. The tone of general Conversation is, however, more ehecr-til ehecr-til than it has k-.tharto been, and j there is an ev.uc-nt tendency to nope for the best, although it i no: tlri.iu.1 I there is still cause :or anxiiiy. Since ! ciVect a clearance, a la:-e numb- r ; priw.te siUlcm-nts l.ave l-m made . hv brchivs who prefer stttlirej ! f.v :i ! ;msi Ivi S to liaving their bu-:r.. broiht Ivf'.'re t::e cmmi'ie,-. The 1 'joVi rr.ir.t: commit;' e w.'.l !ie t at j TUvy Vvk Imliilciitv. jsto'k :nai"'--M h'k'-li I f ';!is I'il :ave (:--, d lh. ir d-..:. Ti.- v av tL. V hav, I..,:, re.d. by ih- d,:ih-queiai.s d,:ih-queiai.s of e---t--li!i:. L i;.-peiid l r..-;ness until t;..y e.m t ilei t v. i it i- tine, l'h-y i":p..'.t i'. pay ewj-y ob- iiatiou in full, and only ask a. short j UXciv York. 20. A member of the! gf-vernin--: comiinttee of the Stock Exchange Ex-change a id. lids morning, that many I bank oihei-rs nave expreaacd a will-ingnt will-ingnt s.- to exti-nd the lime of calling in li .ans, r mi members of the Kxchmgr, lor ten davs after lhe Excliasue ripens, hut that a general uh.-appreiien.ion scemeil to ext among liiem in reference to the position of llic Stock Exchange com-niilt' com-niilt' e for guaranteeing certifitd ehei'ks. They' simply desire that the banks ret'uo to give- any lb ing but eerliii-il cheeks. They shall receive eeithi.d checks as cash, remainingat liberty to make any restrictions tliey please as to the m it hod of certifying. ' including a rule that no bank shall i certify checks unless tho money is on deposit. The first failure nt the i Produce Exchange is reported. A Very Ittvspcctnblo, . though not one of the largest houses, whose credit has hitherto been first j class, lias been forced to succumb, in ! consequence of the trouble in the ex- ' port trade. i Si- Louis, 25. The action of the i hanks of this city, last night, seems to be generally approved by the mercantile mer-cantile community, and an improved and eomparative'ly buoyant feeling was manifested this morning, but when the news came that several Chicago banks had closed doors deep anxiety and apprehension immediately immedia-tely sprang up. Many of the regular banks have so far done their I sual Business, Paying all checks presented, while others" have conformed to the rule adopted last night and have paid only small -amounts. Most savings institutions insti-tutions hero arc run upon by the smaller class of depositors whose demands de-mands have been met in most cases; but some banks have paid only twenty-live to thirty per cent, of their deposits, there being no excitement, i however, and when the situation has been explained to the depositors, a majority of them have been satisfied and many of them loft their deposits untouched. tly Do?orei and A. A 1 Linc.fl ( Regular Press Report.) Chicago, 20.- The city banks arc all keeping open doors and doing business as usual. It is not learned that any of the savings banks have suspended. The officers of tho National Na-tional bank of commerce say they have Only C losed lor the Day, j And that it will depend on the condi-! condi-! tion of affairs whether they will open j to-morrow or not. Tho rumor of a : run on the National Corn Exchange turns out untrue. The deposits in that bank, to-day, have exceeded all I withdrawals $40,000 and the bank is prepared to pav every demand, i New Y'ork, 20. The fact that the 'associated banks here have perfected ! an equalization of their legal tenders j and other reserves, gives a cheerful , tone to the situation to-day, and : liquidations are progressing hourly. I Every day tho Stock Exchange re-i re-i mains closed is so much time gained. I An extraordinary movement in gold ; began about 12 o'clock. The price ' had been strong all the morning. It opened at llf "and worked up nearly ' J one per cent., when it was found the j 'sales which had been made wero j cramping operators. Greenbacks sold I for 3A premium. The clearings at ! i tho Cold Exchange Bank at two p. I j m. amounted to $25,000,000. Two dealers had been found delinquent, I ' and it was feared their clearances ; ' would not be eflected, but fortunately , 1 aid was given them by Doexell, Mor- I . gan it Co., and thus a gold panic was 1 possibly checked. After the trouble : was over shorts in gold commenced to 1 1 cover. Gold loaning was Hat, grcen-! grcen-! backs were at four per cent, prcm- 1 ! ium bki. ' " yt J rv tlumurH. Many strange rumors were current on Wall street for the last two days i concerning the causes of the govern-' govern-' ment's "action in suspending ! the purchaser of bonds. One rumor stated that government had already paid out $24, 000,000 in bond purchase; j also that $20,000,000 in greenbacks i were sent out from Washington and placed in the hands of Assistant I Treasurer Hilihouse. He being ques-! ques-! tioned this p.m., regarding tho truth 1 of these reports, said no such amount i ot government money had been paid, but only twelve million of 5.20 bonds i hero purchased. In addition to that we. have redeemed during the past week, about $127,000 of legal tender certificates, issued to tho banks under the act of June 8, 1S72, upon deposit with the United States of our legal tenders to facilitate their clearances at the clearing house. This $12,000,-000 $12,000,-000 government money only has been paid. The other twelve millions being the banks' own money, Hilihouse also flatly contradicts the rumor that his currency balance has become exhausted. ex-hausted. Also the rumor that gov-i gov-i eminent could give bankers no fur-1 fur-1 thcr relief without infringing on the ! reserve. Money was lent at all sorts ! of rates. Stock Exchange people ! paid h per cent, and greenbacks were j;it a premium of 3 per cent, over certified cer-tified checks in foreign exchange.- |