National Metropolitan Bank (Washington, DC)

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Episode Information

Episode UID
106900885
Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
10690 national
Charter Number
1069
Start Date
September 29, 1873
Location
Washington, District of Columbia (38.895, -77.036)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
87d2932423f18507

Response Measures

None

Description

Suspension tied to the 1873 panic and deficient reserve; examiner later reported capital unimpaired and limited resumption followed.

Events (4)
1. April 27, 1865 Chartered
Source
historical_nic
2. September 29, 1873 Suspension
Cause
Macro News
Cause Details
System-wide financial panic combined with the bank's deficiency of required reserve, forcing suspension of currency payments
Newspaper Excerpt
the National Metropolitan Bank, which suspended currency payments last Monday
Source
newspapers
3. October 2, 1873 Reopening
Newspaper Excerpt
The National Metropolitan Bank, which suspended currency payments last Monday, has resumed to the extent of paying small checks.
Source
newspapers
4. October 11, 1873 Other
Newspaper Excerpt
Col. Moore ... completed a thorough examination of the National Metropolitan Bank ... the bank was ... continually deficient, and consequently obliged to suspend currency payments ... Had the reserve required been held ... the bank would have continued currency payments as usual
Source
newspapers

Newspaper Articles (17)
1. September 29, 1873 Evening Star Washington, DC
Article from Evening Star, September 29, 1873

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Article Text

The President wrote and forwarded the following letter yesterday: EXECUTIVE MANSION, WASHINGTON, D. C., September 28, 1873. Messrs. H. B. Claflin and Charles L. Anthony: GENTLEMEN: In response to the views you have communicated to me touching the present stringency in the money market of the country, and the necessary steps to restore confidence and legitimate trade and commerce, I have the honor to communicate the following: The government is desirous of doing all in its power to relieve the present unsettled condition of business affairs, which is holding back the immense resources of the country now awaiting transportation to the seaboard and a market. Confidence on the part of the people is the first thing needed to relieve this condition and to avert the threatened destruction of business, with its accompanying disasters to all classes of the people. To reestablish this feeling the government is willing to take all legal measures at its command; but it is evident that no government efforts will avail without the active cooperation of the banks and moneyed corporations of the country. With the fourteen millions already paid out in the purchase of the government indebtedness and the withdrawal of their large deposits from the Treasury the banks are now strong enough to adopt a liberal policy on their part, and by a generous system of discounts to sustain the business interests of the country. Should such a course be pursued the forty-four millions of reserve will be considered as money in the Treasury to meet the demands of the public necessity as the circumstances of the country may require. Close attention will be given to the course pursued by those who have the means at their command of rendering all the aid necessary to restore trade to its proper channels and condition, with a view of strengthening the hands of those who carry out the measures above indicated. Orders have already been issued for the prepayment of the interest accruing in November. U. S. GRANT. The Condition of the Treasury. The following was the financial exhibit of the Treasury department at the close of business on Saturday:—Currency, (less amount paid for bonds purchased in New York and not reported,) $14,751,988 53; special deposit of legal tenders for redemption of certificates of deposit, $11,330,000; coin, $84,026,280.15; including coin certificates, $34,225,300; outstanding legal tenders, $355,000,000. The above exhibits a decrease from Friday's statement in the special deposit of legal tenders for redemption of certificates of deposit of $2,395,000, which amount was drawn from the sub-treasury in New York by holders of these certificates. The above amount added to the $13,600,000 legal tenders paid out by the sub-treasurer in the purchase of bonds makes a total of $35,995,000 legal tenders put in circulation in New York during the past five or six days, which, if allowed to flow in proper channels, it is claimed, would have in a great measure relieved the present financial embarrassment. ANTICIPATING THE INTEREST. The Secretary of the Treasury will not for the present issue a programme for the sale of gold and the purchase of bonds. United States coupons maturing November 1 will be paid on and after to-day upon a rebate of interest at the rate of six per cent. per annum. The amount of interest thus anticipated is $14,000,000 in coin. A NEW YORK VIEW OF THE MATTER. A dispatch from New York says this action of the Secretary will bring $10,000,000 into the market; but as most of these bonds are held in Europe, the relief from them will not be felt for some time. The amount which will result from the payment of interest on registered bonds will be about $4,000,000. The registered bonds are nearly all held in this country. Action of the Washington Bankers. AN ASSOCIATION ORGANIZED. At an adjourned meeting of the bank directors and bankers of the city of Washington, held yesterday at the National Metropolitan bank, the following resolutions were adopted, and the rules appended prescribed: Resolved, That in view of the present uncalled for and unnecessary demands upon the banks and bankers of this District for currency for other than business purposes and for shipment to other cities, a very large amount having already been drawn, and in view of the fact that, without exception, all the large cities of the United States have adopted similar precautionary measures, the representatives of the banks and business men of the District of Columbia, having full confidence in the sound condition of their financial institutions, have united for individual support, and pledge themselves to the following line of policy, believing it to be for the best interest of the community and of the interest which they represent. Resolved, That the banks and bankers of the District form themselves into an association, which shall elect a controlling committee of six, into whose hands any bank or bankers of the association shall have the right to deposit securities, (collateral,) the value whereof is to be affixed by said committee, as follows, viz.: Bonds at par; promissory notes at 50 per cent. of their value; other securities at a value to be determined by the committee; and against the said affixed value each bank or banker placing such collateral in the hands of said committee may issue certificates and certify checks which, upon being presented and stamped accepted by said committee, shall be received by all banks and bankers of the association for their full value in payment of all maturing notes or other claims. Resolved, That this arrangement shall go into effect on the 29th of September, and continue until November 1, 1873. REGULATIONS ADOPTED. The controling committee have adopted the following rules and regulations for the associated banks of the city of Washington, D. C.: The banks and bankers of the association may certify checks for their customers in lieu of paying currency for all deposits held by them to this date, but will open special accounts of currency, payable in currency. The certified checks will be received by the different banks and bankers of the association on deposit and in payment of notes due them. Which certified checks shall be redeemed by the parties certifying in loan certificates issued by the controling committee upon deposits of collateral security, as agreed upon at their daily meetings. Each bank will regulate its own exchanges with other cities. The controling committee will meet at the office of the Safe Deposit company daily at one o'clock p. m. for settlement with banks of the association. The treasurer, William Stickney, will have custody of all securities deposited by the associated banks. J. W. Thompson, for National Metropolitan Bank; J. C. McKelden, for Second National Bank; William Stickney, for National Savings Bank; L. J. Davis, for L. Johnson & Co.; Geo. W. Stickney, for Freedman's Savings Bank; Jno. Hitz, for German-American Savings Bank, Controling Committee. HOW THIS ACTION IS RECEIVED TO-DAY. The issuing of certified checks by the banks of the city, who formed a clearing house association yesterday, is generally received by those transacting business as a wise precautionary measure. Mr. Stickney was at his office during the day receiving collateral securities from the banks who have entered the association. There is a pretty lively demand for currency upon the banks and banking-houses outside of the association to-day, as the demand is necessarily concentrated upon them. A Better Feeling in Washington To-Day. A much better feeling prevails in Washington than on Saturday last, and the general opinion among bankers and business men is that the excitement is virtually over, and that in a few days business will be transacted as usual. The action of the "associated banks of the city of Washington," relative to the suspension of currency payments and the substitution of certified checks, has had no perceptible effect on the business of the banks. Several of the banks in

2. September 30, 1873 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, September 30, 1873

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WASHINGTON. Special Dispatch to The Chicago Tribune, A SPECIOUS SCHEME FOR EELIEF. WASHINGTON, Sopt. 20. There is reason to believe that no substantial immediate relief to the business community has resulted from the action of the New York banks in their plan of cortifying checks, and in the purchase of bonds by the Government. The direct beneficiarios of these acts are the gamblers in Wall, Broad, and New streets, and the banks that hold the currency and cortified checks, Such is the tenor of letters received here this morning from Now York, the writers being business men on Wall street, and thoroughly conversant with the affairs of that vicinity. They say the banks, though claiming only a desiro to prevent a run upon them by the certifying process, are really enabled to make use of large amounts of currency in ILLEGAL LOANS. These banks only discount for chosen friends, among whom are their secret agents or the agents of Directors. These agonts can get any amount of discounts, and with the currency thus derived they go into Broad and Wall stroots, and there loan the money at about one-half of 1 per cent per day, and sometimes at grentor rates. Their profits are divided with the bank Directors, as no legitimato business men can afford to pay such rates, and only the stock and gold speculators do pay such usurious interest. It follows that scarcely any of the large amounts of currency held by the banks, nor the proceeds of sales of bonds, goes directly to the relief of the logit-imato business interests of the country. The banks are relieved from runs, and are permitted to suspend practically. The gold and stock-gamblers, and the Shylocks of Broad street, aro supplied with additional capital to ply their ruinous trade; and this is about all that has yet come of the purchase of Government bonds and certifying bank checks. SENATOR MORTON WANTS AN EXTRA BESSION. Sonator Morton is about the only person of prominence who has as yet made known a desiro to have the President call an extra session of Congress, for the adoption of measures intended to relieve the country from the impending financial crisis. The Senator thinks the crisis has not been reached, and fears the worst is yet to come. He believes that the present calm is merely superficial; that the President will not and cannot do anything further to keep up a superficial healthy condition of affairs; that, if anything further is to bo done, Congress must be called together in extra sossion immediately, and that an oxtra session would surely result in hastening a return to specie payments. IN OPPOSITION TO THESE VIEWS, are the opinions of certain prominent officials hore, one of whom romarked this morning that, as a peoplo, wo have gotten toomuch in the habit of expecting Congress to settle all sorts of ques-tione, and to do things that belong to the people in their individual capacities; that, oven if Con-gress is the proper quarter to which to look for aid, it would take abont a month to get the two Houses together, nearly another would be consumed in organizing the House and its committees, and in going over the entire grounds of opposing principles and con-flicting theories. In the end nothing better than the creation of a now evil, such as the in-flation of the currency as a temporary relief from present suffering, would likely be afforded. WHAT IS WANTED NOW is not legislativo enforcements, but individual confidence; not moro paper money, but a re-turn to a gold basis; not a putting off upon Congress our existing troubles and dificulties, but a patient bearing of them among ourselves, and a wiso looking into their causes, that the remedy inny be applied, and equally unwise courses avoided horeafter. RUMORED FAILURE OF THE METROPOLITAN BANK. It is reported to-night that the National Me-tropolitan Bank, of this city, has been forced into baukruptcy. This is one of the banks which refused to adopt the plan of the New York banks. [To the Associated Press.] ΓΑΝΙΟ ΤΙΜES IN THE POST-OFFICES. WASHINGTON, Sept. 20. The refusal of the National Bauks in Philadelphia to pay drafts upon thom in currency having threatened to de-prive the postal money-order office in that city of resources, on which it largely deponds for ro-mittances from country offices, the Postmaster was to-day authorized to draw for a limited amount on the Department's roserve deposited in the Sub-Treasury at New York City. Similar embarrassments were foreshadowed by numerous telegrams from Western Postmasters on Satur-day, but they generally report to-day that the hanka hayo rosumod currency payments.

3. October 3, 1873 New-York Tribune New York, NY
Article from New-York Tribune, October 3, 1873

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THE SITUATION ELSEWHERE. THE LONDON TIMES ON THE PANIC. LONDON, Oct. 3-5 a. m.-The Times, this morning, in an editorial retrospect of the late American financial panic says the recklessness and dishonesty lately characterizing the management of some of the greatest undertakings in America have induced a chronic nervousness momentarily liable to become acute. Even Americans, says The Times, are not all smart men or daring speculators. The Times thinks the danger has disappeared for the present, but political and financial causes are liable to reproduce it at any time. A country with an immense field for enterprise and comparatively limited capital is always Pable to panies. The improvements made in Western communications are most useful and profitable, but may cause further trouble. The entire blame for the disaster rests upon the unsound monetary system of the country. FINANCIAL TROUBLE APPREHENDED IN COLUMBUS. COLUMBUS, Oct. 2.-The financial situation here begins to look a little troubled. There was a disposition, yesterday, on the part of depositors to withdraw deposits, and, last night, the bankers of the city held a meeting. All but two banks were represented. It was agreed to issue Clearing-house certificates contingent on an agreement to this arrangement by the Presidents of banks not represented. At a meeting this morning, and at a subsequent meeting. word was received that Hayden's Bank and the Citizens' Savings Bank declined to go into any arrangement with the other banks. The exeitement is increasing, and the disposition to withdraw deposits is still manitest. WASHINGTON BANK PROSPECTS IMPROVING. WASHINGTON, Oct. 2.-The National Metropolitan Bank, which suspended currency payments last Monday, has resumed to the extent of paying small checks. The Second National Bank and Lewis Johnson & Co., also in the certified check combination, are doing likewise to a limited extent. Gentlemen prominently connected with these institutions say they expect in a few days to cash checks without restriction. FINANCIAL NOTES. The First National Bank of Memphis resumed business yesterday. By Wednesday's steamers from Liverpool to New-York shipments of specie for this city amounting to £244,000 were taken. Everybody at Little Rock, Ark., still refuses to take city money. Greenback currency is very scaree, and the stringency in money matters is greater than ever. A large number of merchants of St. Louis have signed a circular to the effect that they will receive certified checks on St. Louis banks in payment of any indebtedness, or for any goods or supplies of any kind that may be wanted. It is believed that this will restore confidence in all departments of trade and give an impetus to business. The Muskingum Valley Bank, at Lawrenceville, Ohio, after a heavy run of several days durationclosed its doors Wednerday. The banking house of Chas, C. Russell & Co. suspended yesterday. The First National sustained a heavy run, but announced its ability to meet all demands. There was also a heavy run on the Union Bank, but the latter institution invited all having claims to present them.

4. October 6, 1873 Evening Star Washington, DC
Article from Evening Star, October 6, 1873

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The Financial Situation in Washington. Financial affairs continue to improve in this city. The operations of the clearing house on Friday footed up $10,056.43, and on Saturday $9,068.66. THE ASSOCIATED BANKS. The associated banks, acting under the advice of their committee, are now paying out currency more freely, and using the clearinghouse certificates only for settlement among themselves. Some of them are now paying currency in full for all but the demands of other banks in the organization; the primary object of which being to arrest a currency panic, seemto have been accomplished, and we hope soon that the only effect of the recent events will be the establishment of a regular clearing house in Washington, as in other cities. JAY COOKE & co.'s PROPOSITION. A paper, embodying the proposition of Jay Cooke & Co., to assign their property to Hon. E. A. Rollins, in trust for their creditors, was circulated in this city on Saturday for the signature of such creditors in Washington as were willing to consent to the proposed plan. The following were among the signers: R. M. Cor wine, A. S. Pratt & Son, W. A. Cook, Dr. T.S. Verdi, George Cowie, Gen. H. V. Boynton, D. Patten, jr., C. D. Boynton, Col. C. T. Larned, Gen. Benj. Alvord, R. D. Clarke, S. R Clarke, E. W. Rice, Moses Kelley, Hallet Kilbourn, W. H. Wells, Wm. W. Dungan, Hon. C. W. Kendall, Juan Boyle & Co., H. Lincoln, J. H. Squier, J. P. Milburn & Co., Daniel Loughran, and Hon. Thos. J. Durant. JAY COOKE AND co. To the Editors of The Star An article with the following encouraging heading appears in the morning papers of this city: "Jay Cooke & Co. Satisfactory arrangement with their creditors." As not only the creditors of this well-known firm, but the general public are interested in any proposition looking to the adjustment of its affairs, we have taken the liberty of asking you to publish this communication. It is evident that there are two distinct ways of settling up the affairs of the firm--the one judicial, the other extra-judicial. The firm itself prefers the latter, and asks certain of the prominent creditors to adopt it. Some of the creditore, however, have manifested a preference for the former, by instituting proceedings in bankruptcy; notably the cases pending in the Supreme Court of the Dis trict of Columbia. Let NS examine the reasons in favor of the seperate ways. The firm has selected the president of the National Life Insurance Company of the United States," in which company it has undoubtedly a controlling interest, as its trustee. The firmlikewise proposes to surrender all their partnership and private property. But the judicial proceeding will also allow the appointment of a trustee, and the law itself conveys all the partnership and private property to the trustee. To this extent the two modes are substantially identical. We are advised that the petitioning creditor in the suit pending in this District would consent willingly to the appointment of a trustee, (for which the bankrupt act itself provides,) and to any precautionary arrangement that would limit the compensation of the trustee to a reasonable amount. That he prefers the judicial mode for the following amongst other reasons: The trustee will act under an oath and be required to give a bond commeasurate with the vastness of the trust estate; the latter an importati consideration in these modern times. The truste will at all times be subject to the surveillance of the creditors and the direction of an intelligent court; can, from time to time, when necessary, have his acts ratified by the court to give them validity and bind all the creditors. This should be considered, because it is not possible to make any private arrangement that will embrace and be obligatory upon all the creditors. A judicial proceeding will enable the creditors to inform themselves thoroughly of the nature, extent, and value of all the assets of the firm, and particularly of that which most interests the creditors of the Washingten house, the assets that belonged to it at the moment of suspension, and whether it was composed of the same members with the alleged branch houses in New York city and Philadelphia. Why, we ask, would it not meet the exigency of the case, and best subserve the interests of the creditors, and be abundantly just and fair to the honest and honorable, but most unfortunate, firm of Jay Cooke & Co. to agree upon and adopt the following plan of adjustment in one of the pending proceedings in bankraptcy, remembering that the government is largely interested in the North Pacific railroad, which promises to be the most valuable of the assets of the firm: Jay Cooke & Co. to nominate one trustee, the government another, and the cred itors of each of the houses of the firm one each. making five in all. This would include and be obligatory upon all the creditors of the firm. and prevent any unreasonable and dissatisfied creditor from instituting proceedings hereafter to annul the acts of any private trustee. This will allow magnanimous creditors, if the calamity prove to be greater than now believed, to give to those worthy gentlemen a discharge which may become necessary and proper. A CREDITOR.

5. October 6, 1873 The New York Herald New York, NY
Article from The New York Herald, October 6, 1873

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WASHINGTON. WASHINGTON, Oct. 5, 1873. The President to Receive the Evangelical ALilance. Grant will not. as he Presidrnt intended, the Ten- be present at the reunion of the Army of He will remain here to receive, in comwith his Cabinet, the pany nessee. Evangelical instant Alliance, who will visit Washington on the 14th and remain two days. The Metropolitan and Other District Banks. The examiner appointed to report upon the condition of the affairs of the National Metropolitan Bank to finish his labors expected Comptroller to-night. of The report will first be made to the the and if favorable the be from further duty, a relieved Currency, otherwise examiner receiver will will be in charge. It has been generally rethat the result would ported put to-day be to-morrow. unfavorable and that the bank would not open Others, who have an abiding faith in the power of in the government, assert that $115,000 United States bonds were exchanged yesterday for legal tenders by the Secretary of the Treasury, under the order to purchase twelve million in bonds. Only $11,810,950 were purchased, and the Treasury Department, it is said, reserved the balance for the benefit of the District banks. There has been much comment upon the action of the Comptroller in this instance, and it is claimed under the act authorizing the of a that he cannot hold the that Comptroller appointment office. being indirectly interested in the National Metropolitan Bank, contrary to the last paragraph of section first of the act of June 3, 1864. The British Claims Commission. Before the United States and British Claims Commission adjourned, at Newport, R. I., they placed on their records a minute highly complimentary to Thomas C. Cox, the Secretary of the Commission, whose term of office will continue till the 1st of January next. Our government has not yet been officially informed of the result of the Commission. Mr. Robert Hale, the United States Agent. will make his report in eight or ten days, on his return to Washington. Count Corti's Departure for Italy. Count Corti, the Italian Minister, leaves for Italy this week. His successor has not been announced. Judge Dent's Condition. Judge Louis Dent, brother-in-law of the President, is not expected to recover. The President and family were at his bedside last night. The physicians report his condition as worse to-night, and little nope of his recovering from the severe nervous strain imposed by a complication of complaints. Ex-President Johnson. Ex-President Andrew Johnson is expected to arrive here next week to defend himself from certain strictures in the Surratt case and to look after his deposit in the suspended First National Bank. A number of letters, in anticipation of his coming, have accumulated at the Metropolitan Hotel. Coining Machinery for San Francisco. The coining machinery has already been shipped from Philadelphia for the new San Francisco Mint, of and the contract awarded for the construction engines, boilers and shafting. It is supposed by be the director of the Mints that operations will commenced about the 30th of June next. In the meantime the coining will go on as heretofore with the present facilities. Exchange on the English Sovereign. The Treasury Department is sending out circuculars calling the attention of importers, exchange dealers and the public generally to "An act to es- or tablish the custom house value of the sovereign pound sterung of Great Britain and to fix the par of exchange. passed in March last and to be pro- are claimed on the 1st day of January next. Tables appended for the reduction of sterling money fixing of Great Britain to the United States coin, and the value of the pound sterling at $4 86 65-100, Life Saving Stations. Captain J. H. Merryman, Inspector of Life-saving New has returned here from a visit to the for Stations, where he has made contracts of new life-saving England the construction coast, stations at Me.; Cross the following points:-West Quoddy Head, Browning Island and Whitehead Biddeford Pool. Me.; Davis N. H. Sandy Beach, Island, Rye Island Beach, Me.: Me.; Duxbury; Seaw's Mass. Monu- Point, Ann; the Goinette, Nine Neck, Cape Plymouth; Suriside, Nautucket. this ment of the Point, above stations are to be completed month. Post Office Changes and Appointments. Pennayteanta.-Postmasters. Appointed-Morgan William Adamstown, Lancaster county; Joseph H. Clark, Addams Tavern, Berks county James L. Fisher, Maple Hill, Lycoming county Edward L. Myers, Montgomery county; C. Negley, Pittsburg, Appointed-Edward New Washington county, Me. Lanigan, England-Postmasters Swedeland, Steuben, Alleghany county. Me. Dutton, Sutton, Hancock county, Me. H. Thomaston, Knox Henry M. George A. Dunbar, Willis, Rutland county, county, Vt. Julius C. Grifth, Danbury, Pembroke, Plymouth Andrew Leander Matthews. A. Morecounty, Mass. Mrs. Conn.; ton, Lanes, Litchfield county, house, county, Norfolk Park Mass. E. Pooley, East Ridge, Fairfield Cornella North Stough- county, John Conn.; L. Raymond, Amos A. Smith's Wilcox, West Brook, Middlesex county, Conn. York-Postmasters Appointed-William B. J. New Cold Brook, Herkimer county; George county; Thomas, Badgeily, Schoharie, Schoharie Eliner, Sugar Loaf, orange Appointed-Garret Con- county. L. New Jacksonville, Burlington county. over. Marviana-Postmasters Appointed- -George Emma Hambleton, Talbot county Mrs. E. Lenham. Eaton, Detaware-office Prince George's Established-Petersburg county. Kent county; Peter C. Frasher, Postmaster. JAY COOKE & CO.

6. October 7, 1873 Gold Hill Daily News Gold Hill, NV
Article from Gold Hill Daily News, October 7, 1873

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TELEGRAPHIC! EASTERN DISPATCHES. [SPECIAL TO THE GOLD HILL DAILY NEWS.] DOMESTIC INTELLICENCE Malpractice. NEW YORK, Oct. 7.-Dr. James M. Collins, of 143 East 26th street. in this city, has been arrested for supposed complicity with the Jersey City clairvoyant, in causing the death of Ida W. Vall. The young woman was the daughter of a Newark compositor who died several years ago. Libel Suit. George Wilkes has applied for an order of arrest against John F. Chamberlain, in an action begun by him to recover damages for Injury done to his character. Sheridan Shook and Thos. Ryan have agreed that they will pay all costs which may be awarded If defendant obtains a judgement. Commercial. In commercial circles the feature of business is a gratifying activity In grain and grain freights. The export movement in wheat is on a liberal scale. Prices are quoted up and recelpts large. Engagements of freights for British ports embrace free shipments of wheat. Petroleum and tobacco charters are reported. Cotton dealings for both carly and forward delivery are moderate. Government Fiscal Agents. NEW YORK, October 7.-A Washington special says that Morton. Rose & Co., of London, have been appointed Fiscal Agents of the State Department in Europe. Fire. A fire occurred this afternoon in 517 West Nineteenth street, occupied by Dillmatt & Funk, as plano-case makers, and others; loss, $25,000. Banks Reorganizing. WASHINGTON. October 7.-A reorganization of the National Metropolitan Bank is promised after the examiners shall have made a report. The report ot the receiver of the Washington City Savings Bank shows a surplus over its obligations. Estimating securities at par, depositors will receive at least nine-tenths of their money. Snow in the East. PAILADELPHIA, Oct. 7.-A dispatch from Pottaville, says the first snow of the season fell this morning, and quite a severe snow also fell at Fonda, New York. Defaulter. LOWELL, Oct. 7.-Juo. W. Pierce, Jr., Cashier of the Merchant's National Bank, has been guilty of irregularities, according to other officers of the bank to the extent of $50,000. Pierce is also Treasurer of the Central Savings Bank, but that institution is said to be all right. The Evangelical Alliance. NEW YORK, October 7.-The Theological Section of the Evangelical Alliance, at its session this morning, discussed Christian Life, and listened to the reading of a paper on personal religion from Dr. Fuller, of Baltimore, who took occasion to denounce, in terms of great severity, the Roman Catholic Church. The Philosophical Section of the Alliance met at St. Paul's Church. Charles Reid, M. P.. presided. Rev. John H. Riggs, of Westminster, England, read a paper on the relation of modern literature to Christianity, taking what is called a purely European view of the question.

7. October 7, 1873 National Republican Washington, DC
Article from National Republican, October 7, 1873

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# THE PARTIAL RESUMPTION OF CURRENCY PAYMENT by those of our local banks which are members of the "Associated Banks" justifies the wisdom of the certified check system adopted by them. The scarcity of the circulating medium was the result of the panic, the effects of which are now fortunately passing away, and was the occasion of the temporary resort to that system; but as currency begins to flow back into its natural channels, the banks as well as the community enjoy a prospect of a speedy return to usual business customs.

8. October 7, 1873 New-York Tribune New York, NY
Article from New-York Tribune, October 7, 1873

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TRIPLE ;SHEET A proposal will be made in the French Assembly for the restoration of a Monarchy on the basis of the Charter of 1814 the Right have agreed upon a new The CarCabinet, if the Ministers should resign. = lists are fast losing ground in the North of Spain the The siege of Cartagena is proceeding actively. trial of Marshal Bazaine by Court-Martial began yesterday ; a statement of his public services was read, and the report of the Committee of Inquiry submitted. Connecticut gave yesterday an estimated majority of An 3,600 in favor of fixing the capital at Hartford. ====== unsuccessful attempt was made to levy political assessments on employés in the Baltimore Custom-house and Post-Office. ===== Yellow fever still rages fearfully at Memphis with no prospect of abatement. Knoxville and Cineinnati have contributed liberally for the relief of the plague-stricken city, and the President has directed that 10,000 army rations be sent thither. Deputy-Marshal W. A. Burton was brutally murdered The at Paris, Ky., by two ruffians named Current. National Metropolitan Bank of Washington is expected to resume business. Addresses were made by the Rev. Dr. McCosh, Dr. Cairns of Berwick, Eng. ; Prof. W. F. Warren, and others at the Evangelical Alliance. The French delegates were welcomed in the evening at Association Hall, and a Welsh reunion was held at a Presbyterian church. The Receiver of the National Bank of the Commonwealth reperted that the bank was permanently crippled. Chas. Bradlaugh lectured on "The Irish Question." The alleged procurer of a fatal abortion in Jersey City was examined, and the supposed seducer of her victim was arrested. Cases of supposed murder were discovered at Paterson and Bull's Ferry. A father was suspeeted of drowning an infant at Newark. Mrs. Oakley and others testified at the Kelsey inquest. - The balloon constructed for an ocean voyage landed in ConThe Colonel of the 3d New-Jersey reginecticut. ment was arrested for debt at the close of a review. = The Stokes trial was postponed on account of the illness of the accused. ==== Grave personal charges were made at a meeting of Brooklyn Aldermen. ===== A new Grand Jury for the Court of General Sessions was Damaging testimony was adduced in impaneled. an alleged atrocious case of baby-farming. Thermometer, 670, 69°, 50°. Gold, 110b. 1101.

9. October 8, 1873 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, October 8, 1873

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BY TELEGRAPH. Exclusively for the Register. Hy the Pacific and Adjunt Line. Other, 110 Main street. WASHINGTON W ASHINGTON, October 7. Army Orders. On the recommendation of the Surgeon-General the following officere have been released from duty in the Department of the East and ordered to report to the commanding general of the Department of California for as signment to duty Surgeons James C McKee and Warren Westor. Surgeon Charles H. Alder has been relieved from duty in the Department of the Lakes and ordered to the Department of Columbia Assestant Surgeon Cal. vin DeWitt from duty in the Departmen California and ordered to Harrisburg, Pa Leaves of absence have been granted to the following named army officers Colonel R R Detrobband of the 13th Infantry. for one year, with permission go beyond the sea; Second Leutenant William L. English, of the 7th IN fantry. for six months. A general order just issued from the War Department save Under the provisions of section 2. of the act entitled 'An Act to provide for the establiabment of military prison, and for its government," approved March 3d. 1873, a Board is hereby appointed adopt a plan for the building of mili(ary prison, to frame regulations for the government of the prisonere, in &C cordance with the provisions of said act and for such purposes as are herein prescribed The Board will consist of Col. Nelso A. Miles, of the fifth infantry Lieu tenant Col. William H French, of the F second artillery Major Thomas Barr, Judge Advocate. of New York Secretary of the National Prison Ass sociation, and Z. R. Brockway, Detroit Major Barr is appointed corder of the Board The Board will be governed by the instructions heretefore given the preliminary Board Toe old Board appointed in May last has been dissolved The Presid. ut. The President accompanied by Get eral Sherman and Cols. McCov and Poe, of General Sherman's staff, leave here on Monday evening next to attend the union the Army of the Tennesee at Toledo, Otio. The Natio al Metrepoltan Basil The reorganization of the National Metropolitan Bank is promised siles the examiner shall have made bisrep The report of the receiver o the Wash ington City Savings Bank show -unplus over its obligations, estimating its securities at par Depositors receive at least nine-tenths of their money, Louisiana It is a significant fact that Louis athe only Gnlf State paving ber con pon interest due October la Remain- of General Rawlins The President and Cabinet will tomorrow visit the Congressional Cente tery for the purpose of being at the transfer of the remains of the late Gen eral John A Rawline from the vault wherein they have rested since the day of his funeral to a grave the same cemetery prepared their reception This action is prepar atory to the erection of & monument the memory of General R twling, ordered by act of Congress A brother General Rawlina will be present at the ceremony, together with some personal friends, besides the President and mem bere of the cabinet The Omaba Lottery Swindle The Ass stant A torney General for the Post Office Department has rendered an opinion sustaining the action the Postmaster at Omaha, Nebra-ka, regarding the detention of mail matter and retural to pay money orders to A. Sutterlin, the manager of & enterprise located in that city. facts in the case are that the above asmed party, went to Omaha parative stranger and started Git Concert Enterprise. oetentibly establish 8 'ree library. us ng names of several prominest citizens directors of his concert parties advertised 84 directors published cards densing any connection whatever. with Satterlin or his enterprise. In view of these facts the postmaster at Omaha refused to deliver lettere or pay any money orders to the paid Satterlin The action of the Assistant Attorney General is based upon the act of June 8th, 1872 which makes it 8 iolation of law for any part to deposit in poste fliceary letter or circular of 80 caled enterprise lottery, &c., intended to deceive the public and obtain money under false pretences. The Modee Prisoner The Secretary of war has given dera to have all the remsinder of the Modoc Indians brought to Fort Rue. sell, in Wyoming. The order include men, women and children, and excepts Do one. They will be detailed there for the present, subject to the President's further orders. The design is to scatter the members among various reservations, 80 as to destroy their tribal organization and any tribal association of Modocs hereafter and forever. Foreign Agents Appaluted. Messre. Morton, Rose & Co., of Lon don, have been designated by the President to act as temporary ageuts of the United States in Europe, until Clews, Habyob: & Co. can arrange to resume business

10. October 8, 1873 Eureka Daily Sentinel Eureka, NV
Article from Eureka Daily Sentinel, October 8, 1873

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DISTRICT OF COLUMBIA. WASHINGTON. Oct. 7. A re-organization of the National Metropolitan Bank is promised after the examiner shall have made his report. The report of the Receiver of the Washington City Savings Bank. shows a surplus over obligations. Estimating securities at par, depositors will receive at least ninetenths of their monev. Some time ago the Postoffice Department invited the postal authorities of England and Germany to open negotiations with this country for the exchange of postal cards on the basis of two cents. England declined the proposition, but negotiotions are now in progress with the German Postal Union, including Austria. and there is every probability that they will be brought to a successful issue by the first of December. The Treasury Department is now paying persons who were employed in taking the United States census in the Southern States in 1860. just previous to the breaking out of the rebellion, and who were deprived of their money on that account. Already $6,769 have been paid such employes, in sums ranging from $50 to $200.

11. October 8, 1873 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, October 8, 1873

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WASHINGTON. Special Dispatch to The Chicago Tribune. THE REVENUE AND THE RESERVE. WASHINGTON, D. C., Oct. 7.-Even if the recoipts from internal revenue should immodiatoly increase to an amount equal to the estimates and reasonable expectations of the Revenue Commissioner for this season of the year, it would only have the effect of rendering unnecessary any further draft upon the legal-tender reserves by the Secretary of the Treasury. The most sanguino expectations of the authorities here do not lead them to suppose that the Secretary of the Treasury will be ablo to replace, out of money received through the usual channels, the amount drawn from the $44,000,000 legal-tender reserve. It is, therefore, strougly believed that Congress will be called upon to deviso ways and moans to replace the greenbacks taken from the reserve, or to authorize the Secretary of the Treasury to extend the legal-tender circulation to the amount of the reserves issued, or probably to the extent of the entire $44,000,000, for various good reasons. The latter plan is the one most likely to be recommonded to and adopted by Congress. To the Associated Press. NEW YORK, Oct. 7.-A Washington special says: "Morton, Rose & Co., of London, have been appointed fiscal agents of the State Dopartment in Europo." WASHINGTON, Oct. 7.-The reorganization of the National Metropolitan Bank is promised after the Examiner shall have made his report. The report of the Receiver of the Washington City Savings Bank shows a surplus over its obligations, estimating its securities at par, and depositors will receive at least nine-tenths of their monoy.

12. October 10, 1873 Nashville Union and American Nashville, TN
Article from Nashville Union and American, October 10, 1873

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WASHINGTON. Government Begins to Feel th Pinch Not Enough Greenbacks to Run the Machine. Some Nine Million to be Issued This Month. The Hand to Mouth Policy NEW YORK, Oct. 9-A Washington special says owing to the small receipts from revenue the Treasury officials say will be necessary to issue eight or nine lions of the forty -four millions reserve to meet the current expenses of the government the present month. Semi Official. WASHINGTON, Oct. 9.- The Treasury reserves are now being daily drawn on to pay only the actual expenses of the govern ment. There is no apprehension at the department that the draft upon $44,000,000 will be very heavy in the ordinary course of business. The outstanding legal tenders now shown to be over $356,000,000. will be reduced again to those figures at the ear liest moment, it may be before issue of next public debt The Secretary phatically asserts that the out standing legal tenders a are not exceed the minimum figures day more than the absolute demands of the government requires. The outstandir legal tenders are now $358,966,488 The Polaris Prisoners. The steamship Tallapoosa arrived last evening and was anchored in the stream No comm was permitted from shore with the Polarie survi vors. Secretary Robinson is making inquiries into the loss of the Polaris by an examination of the prisoners. The examination of Buddington's party will be chiefly in the interest of science. The party now here have several of the records of the lost ship. The Secretary of the Navy to-day said he did not credit the reports which have recently been renewed, that Capt. Hall's death was the result of foul means and it appears that all who were present at the former investiga ation are con vinced that the landing officer's death was from natural causes aione Grant's Little Tin Box. Special to the Louisville Courier-Journal WASHINGTON D. C. Oct. 8. The President's friends now assert that he had no funds on hand. either in the First National Bank or Jay Cooke & Co.'s, at the time of their suspension, but had slightly overdrawn his account This tardy denial may or may not be accepted. The National Metropolitan Bank. It is stated to-night that the examiner of the National Metropolitan. or leading ring bank in this city, has made report to Mr. Krox, in which he points out certain gross violations of law, one in the failure to have on hand the reserve of flegal tenders required by law; another in allowing Boss Shepherd to have advances largely in excess of the limit prescribed by law Efforts are mak ing to induce the examiner to modify his report. Foreign Fiscal Agents. It is remarked that the house of Rose. Morton & Co., which has just been elected for the foreign bankers of the United States, is like that of Henry Clewes & Co., conspicuous for its connection with the cart-baggers who have been plundering the Southern States: and some say that this is the secret of their favor with the President The South Carolina negro Legislature is about to be called together in extra session to levy the taxes to secure four millions of plunder to this house of Rose, Morton & Co. More Corraption. The New York Sun of to day publishes a letter making very serious charges against the Attorney General, purporting to be from a Republican source. One of the charges is that Mr Williams is owner of the fourth part of a granite quarry situated near Rich mond, Va., which has been supplying the Federal Government with granite. Bamsdell I's Oats, Ramsdell, the carpet-bag candidate of the Virginia Radicals for Lieutenant Governor, who has been claimed to be great capitalist, no mere carpet -bagger, turns out to be assessed with tax seven dollars and thirty -one cents on $568 of personal property, and to hold 200 acres of real estate, which has not been paid for. Special to the Cincinnati Gazette. Teachers Without Pay. When the question of paying the teachers in the public schools for the last month came up, it was discovered that $10,000, being the whole sum available for that upr pose, was in the First National Bank at the time of its failure. Four months' pay is now due the teachers. Schools Closed for Want of Coal. To-day eight schools were |dismissed by one of the trustees, because the weather was cold, and DO coal can be procured for the use of schools. Contractors refuse to make further delivery until some debts already due them are paid. The Government nt Running Itself Attorney General Williams said this evening that government affairs were now running so smoothly that no member of the Cabinet had any business to submit to the consideration of the President to day Cincinnati Special the to The Work for Congress. WASHINGTON, Oct. 7.-Even if the receipts from internal revenue should immediatel increase to an amount equal to the estimates and reasonable expectations of the Revenue Commissioner, for this season of the year, it would only have the effect of rendering unnecessary any further draft upon the legal tender reserve by the Secretary of the Treasury The most sanguine of the authorities here do not lead them to suppose that the Secretary of the Treasury will be able to replace, out of money received through the usual channels, the amount drawn from the forty four million legal tender reserve 1t is therefor strongly believed that Congress will be called upon to devise ways and means to replace the greenbacks taken from the reserve, or to authorize the S cretary of the Treasury to extend the legal tender circulation to the amount of the reserves issued. or probably to the extent of the entire forty four millions. For various good reasons the latter plan is the one most likely to be recommended to and adopted by Congress. Tests of Steam Boilers. would seem that the Commission to It y make tests of the strength of steam boilers. and to investigate and report upon the causes of boiler explosions, to be left entirely upon its own resources for ideas and suggestions of scientific character relating to the business and experiments intrusted The Commission has sent circulars to to all prominen practical engineers and scientists this country, requesting such views, ideas and as these gentlemen might see fit to submit but as yet no replies have been received by the Secretary of the Commission in this city. A meeting of the Commission will be held in New York on Monday or Tuesday next, when final will be made for teste and experiments, which begin at Sandy Hook about the 15th inst. CAL.

13. October 12, 1873 The New York Herald New York, NY
Article from The New York Herald, October 12, 1873

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WASHINGTON. WASHINGTON, Oct. 11, 1873. The Affairs of the National Metropolitan Bank. Colonel F. W. C. Moore, National Bank Examiner, to-day completed a thorough examination of the National Metropolitan Bank of Washington, and made his report to the Comptroller of the Currency. The Comptroller states that from this report it appears that the capital stock is unimpaired and that the bank has a considerable surplus, the assets at their cash value being more than sufficient to pay the creditors and return the original capital to the shareholders. From an examination of the bills receivable it is found that on the first day of October, the day of the commencement of the examination, there were no loans to any person, company, corporation or firm in excess of ten per cent of the capital as required by law. The bank was, at the date of the last regular report, on the 13th day of June, deficient an amount of reserve required. Explanations were made to the Comptroller in reference to such deficiency and he was given to understand that the amount of deficiency would be restored; but the records show that the bank from that time subsequently was continually deficient, and consequently was obliged to suspend currency payments at the time of the suspension of the banks in New York and other cities. Had the reserve required been held at the commencement of the panic the Comptroller is of opinion that the bank would have continued currency payments as usual. Conditional Release of Satanta and Big Tree. The Interior Department is to-day in receipt or the following despatch, referring to Satanta and Big Tree:FORT SILL, Indian Territory, Oct. 8-Via Caddo. Hon. C. DELANO, Secretary of the Interior:At a council this morning Governor Davis liberated the prisoners on my guarantee that the government will compel the Indians to comply with his conditions OI release. I am taking measures to compel the Comanches to deliver up guilty EDWARD P. SMITH, parties. Commissioner of Indian Affairs. The President Going West. The President and party will leave here on Tues. day evening next for the West. Free Delivery for Hoboken. The Postmaster General to-day issued an order establishing a free delivery system for Hoboken, N. J., and Lafayette, Ind., with four carriers each, commencing November 1, prox. A District Attorney Appointed. The President this morning appointed Oscar A Fryers United States Attorney for the Southers Diatrict of Florida. vice Mobley. resigned.

14. October 13, 1873 The Sun New York, NY
Article from The Sun, October 13, 1873

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THE WASHINCTON RING BANK. Scient in the Amount of Reserve with the Know ledge of the Compreller. WASHINGTON, Oct. 11.-Two of the Ring papers print this morning what purports to be an epitome of the Examiner's report of the condition of the National Metropolitan Bank. This much was forced out by the exposures of THE SUN, and the repeated demand made upon Comptroller Knox for the publication of the report; but as much as the Examiner and Comptroller have desired to whitewash this rotten concern. they have not dared wholly to conceal the truth. as the following extract shows: The bank was. at the date of the last regular report of the 18th day of June, deficient in the amount of reserve required. Explanations were made to the Comptroller in reference to such deficiency. and he waselven to understand that the amount of the deficiency would be restored. but the records show that the bank from that time was continually deficient. and consequently obliged to suspe a currency payments at the same time of the suspensions in New York and other cities. Had the reserve required been held at the commence. ment of the panic. the Comptroller 18 of opinion that the bank would have continued currency payments as usual. The fact that the Comptroller did not give the bank notice on the 13th of June to make good their reserve shows that he failed in his duty. He evidently treated this bank with unusual leniency, all of which is accounted for by his wife being a large shareholder in the same bank. Of course when the Comptroller, in deflance of law. holds an indirect interest of this kind in a bank. it is to be expected that he will not only be lenient when necessary, but that he will also whitewash.

15. October 13, 1873 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, October 13, 1873

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And Overhauling and Statement of the Condition of the Metropolitan Bank of Washington City. WASHINGTON, Oct. 11.-Col. Moore, National Bank Examiner, has completed a thorough examination of the National Metropolitan Bank of Washington, and made his report to the Comptroller ot Currency. The Comptroller says thatfrom this report it appears that the capital stock is impaired, and that the bank has a.considerable surplus, the assets at their cash value being more than sufficient to pay their creditors and return the original cap. ital to the share holders. From an examination of the bills receivable it is found that on the 1st of October, the day of the commencement of the examination, there were no loans to any persons, company, corporation, or firm in excess of ten per cent of the capital, as required by law. The bank was at the date of the last regular report, 13th of June, deficient on amount of reserve required. Explanations were made to the Comptroller in reference to such deficiency, and she was given to understand that the amount of deficiency would be restored, but the records show that the bank from that time subsequentlly was continually deficient, and consewas at same susquently payments obliged the to suspend time of currency the pension of the banks in New York and 8 other cities. Had the reserve required been held at the commencement of the panic the Comptroller is of the opinion that the bank would have continued currency payments as usual.

16. October 13, 1873 Evening Star Washington, DC
Article from Evening Star, October 13, 1873

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# REPORT OF THE EXAMINER OF THE NATIONAL METROPOLITAN BANK Colonel T. W. C. Moore, national bank examiner, has completed a thorough examination of the National Metropolitan Bank of Washington, and made his report to the controller of the currency. The controller states that from this report it appears that the capital stock is unimpaired, and that the bank has a considerable surplus, the assets at their cash value being more than sufficient to pay the creditors and return the original capital to the shareholders. From an examination of the bills received it is found that on the 1st day of October, the day of the commencement of the examination, there were no loans to any person, company, corporation, or fund in excess of ten per cent. of capital as required by law. The bank was, at the date of the last regular report, on the 13th day of June, deficient in the amount of reserve required. Explanations were made to the controller in reference to such deficiency, and he was given to understand that the amount of deficiency would be restored; but the records show that the bank from that time was continually deficient, and consequently obliged to suspend currency payments at the same time of the suspensions in New York and other cities. Had the reserve required been held at the commencement of the panic, the controller is of opinion that the bank would have continued currency payments as usual. # SUIT FOR DAMAGES FOR ALLEGED DEPAMATION To-day Mathew Sexton, through his attorney, Mr. John E. Norris, entered suit in the Circuit Court against Michael Conner for defamation of character, in calling him "a thief, a d-d thief, robber, rogue, and swindler; that he stole his cow;" and claims damages to the amount of $3,000. # WALL'S OPERA HOUSE The talented comedian, Mr. John E. Owens, will commence a brief engagement this evening, supported by his own company, and will give as his opening performance to-night "The Victims" and "Solon Shingle." A great bill and one in which he can do himself justice. # THE ZITELLA TROUPE THE ZITELLA TROUPE, and numerous other new performers have been added to the large company at the Theater Comique, which will greatly add to the attractions of the entertainments this week. Never ending novelty is the strong suit of the management. # REAL ESTATE SALE M. M. Rohrer has sold, on his own account, to Messrs. Britton & Gray, part of lot 15, in square number 456, (F. between 6th and 7th streets,) for the sum of $12,000.

17. October 15, 1873 The Sun New York, NY
Article from The Sun, October 15, 1873

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# WASHINGTON SHOCKED SHODDY STOPPING PAYMENT. The Attempt to Carry the Cookes-Dower Rights nul False Pretences-Downfall of Ring Institutions-The Freedmen Plucked -Senator Stewart of Nevada Stops. Correspondence of The Sun. WASHINGTON, Oct. 13. In spite of all the falsehoods of interested and subsidized news- papers, such as exist here, the last scheme of Jay Cooke & Co. to evade proceedings in bank- ruptcy begins to be understood and appreciated as a new deception. The flourish about their wives renouncing dower, as an evidence of inten- tion to surrender more than the law gives to the creditors, is an imposture, quite in keeping with the wilful swindling practised in the sales and transfers of Northern Pacific bonds, which wiil be thoroughly exposed. In the first place there has been no exhibit of real estate for the wives to renounce their right of dower in. At the best it is not believed to extend beyond the mere banking houses, upon which liens already exist. In the second place Jay Cooke, who is the head of the concern, is a widower, and consequently no renunciation is possible in his case. Whether his private residence near Philadel- phia, which cost only three-quarters of a mil- lion, has been covered with a secret trust exe- cuted years ago, like his brother's property here, remains to be seen. As Jay was the trustee of Henry's concealed deed, only brought to light ten days ago, after seven years of secrecy, suspi- cion is fairly excited. Henry D. Cooke has not a dollar of property standing in his own name. It was all conveyed to his brother for the benefit of his wife long ago. Hence she has no dower to relinquish, un- less the Courts should set aside the deed of trust as a concealment to defraud creditors, and then her alleged rights as she joined in the deed to Jay Cooke-would not be worth much. Besides, Mrs. Cooke is in Europe with her chil- dren, enjoying the ease and good fortune which seem to be the lot of many broken bankers. Her husband will, perhaps, receive a diplomatic ap- pointment as things go. If the whole truth should be told, it would probably turn out that the other members of the form represent no more realty than the two brothers just mentioned. Therefore the pretence of their wives surrendering anything valuable is not only a sham but an outrage that deserves stern treatment. To appoint E. A. Rollins a special trustee for the Cookes would be substantially the appoint- ment of one of themselves. He has been con- nected with all their operations in Congress. The so-called "National Life Insurance Com- pany of the United States," of which Rollins officiates as the chief manager, was a creation of the Cookes, and gotten up as one of the many auxillaries to float their speculative banking. It had a branch in this city, very appropriately "In the rear of Jay Cooke & Co.," as the Directory states. The last list published here, though not the latest in fact, tells the whole story. Look at it: President. Clarence II. Clark: Chairman Fi- rance and Executive Committee, Jay Cooke; Vice-Presidents, Henry D. Cooke and E. A. Rol- lins; Directors, Clarence H. Clark, banker: J. W. Ellis. banker: J. Hinckley Clark, banker; George F. Tyler; W. G. Moorhead, banker; E. A. Rollins; Henry D. Cooke, banker; W. E. Chan- dier, ex-Assistant Secretary of the Treasury: John D. Defrees, Edward Dodge, and E. C. Fahnestock, banker. These names show that this company belonged to Cooke, was run by Cooke, and that Rollins, who now figures as its President, and who is proffered as trusted, is nothing but a mere hired agent and instrument of Cooke. As the com- pany will soon pass into new hands, of course it would be very convenient for the Cookes to avoid bankruptcy and make Rollins the medium of saving their rottenness from exposure. Since it has become evident that the National ■Metropolitan Bank of this city must either go go into bankruptcy or be immediately recon- structed, plans have been formed to continue the Ring ascendancy which has brought it to the very verge of ruin. There are nine directors, but the real power has been exercised through J. W. Thompson. A. R. Shepherd, Nicholas Acker, and J. B. Blake, President. Moses Kelly, the cashier, has acted for them as the business manager and for himself-mainly for the latter. J. W. Thompson was formerly a successful plumber, who acquired property and became pretentious in proportion to his property. Igno- rant, low-bred, and arrogant, he was the proper person for Shepherd to serve as an apprentice. Such was the school in which the present Gov- ernor of this District graduated. Thompson is connected with a net work of city railroads and other projects that do not pay, and which the Territorial Government could materially damage by opposition, or aid by favor. As the Chief of the Ring, Shepherd has had it in his power to control this influence for good or evil, and thus has secured the sup- port of Thompson in his discounts at the bank. The former master and the former apprentice played into each other's hands. During the recent excitement and before the bank shut its doors, Thompson assumed to bully the depositors who only asked for their own. After taking care to protect himself, he seemed to think it a crime that money should be drawn out of bis broken bank, which had squandered its resources in the speculations of Shepherd and Kelley. This Thompson is now a candidate for Prest- dent of a new organization, and he has been seeking proxies in Maryland and elsewhere, while his brother has been drumming the city for the same purpose. They have gathered in a good many, but if the experiment be tried the institution goes into bankruptcy. He is a mem- ber of the Legislative Council, and connected with the Ring. Being thus tainted, confidenco can never be restored with him. There must be a clean sweep or else a final close of the bank. There is a fire insurance company called the "National Metropolitan," which may be regard- ed as a branch of the bank, that is doomed from Its association and almost identity. The Prest- dent is Moses Kelley; Secretary, Samuel Cross and Directors Moses Kelley, J. B. Blake, W. Wall, W. G. Metzerott, G. F. Gulick, A. R. Shep- herd, Charles Just, and J. T. Lenman. Policy holders may well open their eyes when they see the situation of the Metropolitan Bank. to which stands godfather for this company, and know that the Secretary has been hawking about certificates of the District Government for sale. The Freedman's Bank, also, is in a very bad way. It may be described as a Rinz bank, as I has been ruled by the malign influences which direct or are subservient to the local Govern- ment. Last winter a run was made upon it, and half a million of securities were sold in New York to prevent its closing up. When this thing was repeated a few weeks ago from a well-founded alarm, the gates were shut down under the sixty days' notice to de- positors, in the hope of tiding over the trouble But when pay day comes it will be found tha there was good reason for apprehension, and