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formation of any bank panics. A commit- for rewas appointed to perfect a plan to: lief tee in case of necessity, and will report morrow The latest morning. rumor on the street is that the toGovernment will come to the rescue bonds. by buying five million demorrow Government aid must come in a more cided shape to be of any effect. Mr. Gorland, of Jay Cooke & Co., said a evening that the London house have all its this have a large surplus of payment of demands, unless there is a great shrinking of the value of their securities. side purchasers continue in consider- for Ou' numbers in the declining market investment, able which aided in strengthening the market this evening. The Power of the National Banks. NEW YORK, Sept. 19, 3:30 P. M.-Jacob Assistant Little & Co. have suspended. Hillhouse says it is in the power disTreasurer the National banks to avert further of and they will undoubtedly do say so. aster, Two days of extraordinary, and some and uncalled for excitement have passed, house thus far J&y Cooke & Co. is the only bowed to with foreign connections that bas the blast. Review of the Saughter-Commerce Demoralized. The Express, to-night, sums up the situ- the follows: The day closes, on with fewer killed and be all things No company has suspended. has refused payment. All the great as ation whole, might trust as expected, wounded considered. firm No railroad bank than a corporations are apparently as Rumor, however, is not yet satisfied, and rock. we warn everybody to bewere of rumor. but values have shrunk enor mously, Stock when the bottom is fairly touched, a re- in bound, as usual, is inevitable. Business, stand nearly all branches of produce, is at a still, and in fact almost bordering on genedemoralization. Everybody is looking of ral for their money, and the holders feverout goods are not disposed to realize. merchants A feeling prevails, and many Governish fear a greater depression unless the of comes to the rescue. One cause ment the financial crash is imputed to the agitation in the Western States, threatening These hostile to the railroads. to legislation have caused European bankers railroad reports decline, advances on American stocks. The Times, speaking of the failure of Jay & Co., says: With the great Northern York Pacific Cooke undertaking Jay Cooke's New partners, and oneat least of his Philadelphia star to were reluctant from the house, sympathize. Mr. Hatch, on being interrgo- at said he would make no statement to ted, which he might be called on present He hoped for the best and thought the were allowed to of the house without retract. if the firm interference, manage be paid business creditor would undoubtedly failure every The announcement of the in Fisk full. & Hatch, which was followed rapidly firms, of of the suspension of other street by reports the wildest excitement on the neighcaused the scone in Wall street and its equaled. and borhood has probably never been A Run of a Million. As the business hours of the day began less. draw to a close the excitement grew afternoon to Manhattan Banz was this Trust The with depositors of the Union by filled waiting to have checks given certiCompany by the Union Trust Company them The cachier said the company yester- bank tied. $700,000 on deposit in the that day had had been paid out. He believed to the which company had to-day paid $1,000,000 to be depositors. He believe the institution abuncantly Fourth strong. National Bank kept firms open The 3:30 and most of the brokerage until that suspended to day expect to resume business in a short time. Tom Scott's Son-in-Law. house of E. Randoiph whose New susThe was noticed was Tom Scott's son-inpension house. Mr. Randolph is a York the great railroad king. The reason the law of last named feature as stated by is the for the of the firm of Randolph & Co., monies head absolute impossibility of obtaining due them from other parties. dispatch says C.P. Bayard, one Philadel- of the oldest A and most reliable firms of phia has suspended. To-morrow! nineteen failures have been an To-day The street at the close presented When the ported. excited appearance. of intensely going sounded the members Another the closing Board gave three rousing cheers. exciting day is predicted for to-morrow.
