The New York Herald Newspaper, September 26, 1857, Page 1

TH WHOLE NO. 1695. THE FINANCIAL CRISIS. eee’ FRE TROUBLES OF THE PHILADELPHIA BANKS, Effect of the American Pressure in Europe. THE NEWS BY THE CANADA, key &o., ke THE PANIC IN PHILADELPHIA. SUSPENSION OF SPECIB PAYMENTS BY THE BANK OF PENNSYLVANIA—-BUN GN THE PHILADELPAIA BANKS. Parapairais, Sept. 35, 1867. ‘Tee Bank of Pesnsylvenia has suspended specie pay- tents, by # resolution of the Board of Directors. The Pre- ident says the suspension is caused by the action of other banks against {} and ite lores by the recent failures of dry goods men. Hie algo cays it will bo only temporary, and ‘that (be capital is untouched. ‘The Girard Bank: is giving specie for its noles, but obecks ‘will not be honored till 1 o’clock. ‘There ts a heavy run upon the city banks, and all the Sounters of the banks aro besieged with depositors and notehoiders. ‘Thero ‘s much alarm and almost # suspension of busi- oes in the city. Haur-rast 1 o’CLooK P. M. ‘Tee Girard Bank only is paying spacie for fives and tens, larger notes and checks belog refused. The Commercial and other banks are taking the same course, promising to Fesame to morrow. Ps ‘The Pennsylvania Bank has the State funds, and the Gi- rard Bank those of the city. ‘The excitement! Is inten:o. MEBTING OF BANK DIRECTORS—THMPORARY SUSPEN: SION RECOMMENDED. Tax O'010ck P. M. A general conference of the Presidents of all the Banks ‘was held this afiernoon, and sfier carefully canvassing all the circumstances of tho presture and their resouroos, re- @olved on a temporary suspension of specie payments on ehecks, and also on bilis excesding ten dollars, to go into effect to-morrow. ‘There was a heavy run on al! the banks to-day, but the @trard and some others shielded themselves in the above manner. All reports of total failures of any of our banks are to be disoredited. Brokers and o(bers are highly excited, and ciroulate monstrous reports, There is no “‘Morchants’ ‘Bank’? bere, the report in a New York paper to the con- trary notwithstanding. TOTAL SUSPENSION RBCOMMEK DED. Exeven O'Ciocr, P, M. Bi is now understood that the bank presiden’s have enanimoutly resolved to recommend to the several Boar is of Directors s total suspension of specie payments, to take eff xt to morrow. Avoording to the law of 1850, this action will entail the forfeitare of the charters of the banks incorporated or ex tended since that me. OUR PHILADELPHIA OORRASPONDENOE. PuLADmLynta, Sept. 25, 1887. Tremendous Run on the Banks--Great Excitement. * tem most inevitably explode, and blow banks, brokers ‘an¢ merchants lato a grand general wreck. For sone Gays there has been s good deal of strong talk indulged @oncern'ng the condition of three or four of our city banks, acd in respect to one of them (the Bank of Penn- syivania), it was confidently asserted that {t hed more than It could carry, and that, if left to itself, i must inevitably secoumb to the and Sas See rer elt the nepotism practised by @ prominent oillcer of the in- oes, whe dad ‘accommo dated”® cermin favorites i Yesterday it was —_. take cere of ttweif, and ‘unequal to tre emergency. The determination of the other banks leaked out last night: and t's morning, upon the opening of the doors, the officers of the Bank of Ponnryivania discovered there would probably bo ® briek timo, and {i was doter- mined t9 close ths concen. The outeldo gates on Second aud ee streets were also closed, and policemon were posted at each entrance E BANK oF Pennsyir ayia. Resolved That the bank suspend specie payments uatll (ar wher getion of the Board. Tho appearance of this pithy announcement of course @ttyacted moc? attention, and an immense and excited Growd econ ga:hered. The sidewalks were blockod FP and the cows sproad far and wide that the Bank of Ponn fyivania bac fatied; and this report, as might be expect ed, was tho signal for ® geueral and heavy rot on all tne Danks, witho:t regard to Uneir atandivg or reputation. Laver") the waeet the Dank of ft the bank, whether of ctrouistion, de- POKit Ur O\Der Wine tal po love CAB possioly oscur. By order Sad on vebalf of the board of THOR, ALLIBONR, President. ‘The Girard Bank wes tho scene of & most tromendous Pop, aud (be | reseuce of tbe polios was reyuired there 10 press voorder, The Girard redeemed their notes as fast a hey were offered, but during the forsnosn check Sold ers wore put off catil one o'clock. When ono o’ciosk holders, mot be Dut the teller expressed bis willingress to mark Ee good.” Tho course pursued by the Girard 4 the Commercial caused great dissatisfaction, and Qdded ‘9 tbe general rneasinces. Is every bank im the city there was a heary run, all of them “ee the storm with tho ree ’, clored more gloomily and feverishly than any ‘hiladelpnia for iw ty Aa | write this let- rent banks are holding be the result of their delibera- foretell. Presidents of the diffe it was rosolved that the solvent Danks ehould sasta’n each other thro xh the crisis. PrrLapanrma, Sept. 26-45 PM, Never hare | bebeld euch « ran upon the banks of this my witnessed to-day. Every bank and every say. ‘Ings insil(ation was beret with hundreds of applicants for ‘@pecie, and at room the excilement |ncreased tenfold on macertaining that the Pesnrylvania Bank had wutrenied It ie goneraily believed that all the banks will suepond Specie payments to morrow. ‘The transactions {n stooke wore quite limited, and lower. Business of overy description fe at» etend the wisest and beet of our siizeos can soarce'y re thé result of this terrible oriais im monetary i ff THR RANK OF PRNYSYLVANIA. From the Philadelphia Bulletia, Sept. 96 | re} to have to sanounee temporary suspen ik of Pennsylvania, in Yhis city. This has by the efforts of the bank to sustain fering the recent trying tim: papenea D Need of money has ai length compolle svapend for a time. aa 3 a if i t HH 53 i F 25. H iH i aid aleo bave another. ‘e cannot but would have been wiser if (hey had done #0. be wo aro unprepared to say. been to increase the public ureasinews, and this was manifested this by on hibitions of unawnal excitement, and it ie yory question able whother @ portion of the system can be allowed to fall and the remainder maintain ite position. There is one thing worthy of note in to the pro pent exotiement: | tv totally anconmes ed with poiliics ecu 1837-9, ‘he troabies wore ag Tm thes ry distress of acerbily that prevailed ere «by the political wh re ‘Hes were arrayed ageinet one amothor, and the suspens'« 4 ¢7 the Bank of Peni lvania. It assures ‘Bowe hing tims agalnat that they ounnot poesioly Kay ng Ay DAE® mi Aa From Penney’ vanian, ‘The unpleasant feeling in relation to some Pesaran won toes tna decline of 3 since Wed. we lown + jae - endey. ‘There is ledge gained in tie present orisis, bring still lower the wi bank stocks. (From the Ledger, Sept. 25 } There bas been more quiet ia be mons marke} for the two or three days, not wever, of any Ebatement, of the strest ratos of paper or of ihe d for capital on mercantile bills. The quiet allaied to is the result of an entire wipiog out of credit. scarcely such a thing money or {is equivaicnt will now command consideration. There is mucad written and attered about the illiberality of the banks, but those who complain most would be, per- haps, equally loud in their condemnation if any trouble should come through a want of prudence on the part of ‘those institutions. We know thai the Phi adelpbia banks are dolog their duty, and that their course has the appro. ‘val of the best informed of our business men. From the Philadelphia Prers, Sept. 25 } We have made inquiry smongst the various classes of trade, to ascertain waich of them are untouched by the whirlwind that has swept over us, and the effects of whi sh ave still visible, as one another of our mercantile friends suspended. ‘Three firras in the grain trade have suspended, out of more than two hundred members of the Corn Exchange. he corn trade, backed as it is by a brskdomand for the W crop, is staunch. If asy man desires investments, lot im seek grain bilis. Philadelphia is noted allover the country for the exoel- lence of her bricks. Around the city rey extensive brick making establishments attest the deman: of our manufactnres. There have been no failures in this Toe coly aiicaty wil be to lay hold on say ofthe paper Toe on! ity will be to on paper. Our lomber trade is very exiem iver Or merchante draw immense supplies by sea frim the Carolinas, and from Maine. Through the canals we are furnisl wil cabizet lumber from ihe lakes. Our raliroads brivg iri- bute froma the heart of our own State. In conducting these operstions large wdvances are requisite; but such has been the — oe, foresight and abilly with which deon conducted, that for years past, no Tamberman’s paper bas been dishonored except by an ac- old perhaps. jay or two past one note was of s orm in to whioh being at thie time very much ¢xiend: The firm alluded to was instan'ly granted an extensiou. ub this exception our lambermen are un- cs thed. Another great Pailadelpbia interest is our book making. ‘The pubiishers stand tho close money market exceeding\y |; acd wo wonder. The copy right system protects this trade from thet ruinous competition that has carried d #0 many all over the country. This guild is so strong that it alone furnishes the capital for the new Common wealth Bank to start |nto operation next month. Here it was that liu put forth his “Poor Richard’s Almanac,” counsels closely followed have gained such 's good name for our booksellers trade appears to bave suspended. Our coal men aro very numerous, and we would natn- rally look for many fall We oan only learn of one houro that has If this storm bad not swept fo fiercoly over New England factories and our Pennsylvania iron farnaces, w Id predii trade for the coal men, As it ‘good demand, for the carryiug companies have not done full duty this year, ‘The interests suffering now are not any of those just enamerated, but ‘be cotton aot woollen manufactures and railroad dependencies. For the sake of the vast num- ber of hands turned off at our wills, furnaces and i will givdly hail the retarn of it bea very long while ere we reo such anotbor crisis. The stunning effect of the first failures bas passed away. THE EFFECT IN WASHINGTON. Waaninoton, Sept. 25, 1867, ‘The suspension of the Bank of Pennsylvania and the re fasal of the Girard and other banks to make specie pay ments on bills over $10 and cheoks, excited surprise in commeretal circles. MASSACaUSETTS. [From the Boston Traveller, Sep. 19 } te mee Naa AND, FIMANOTAL Li ree mon-y pressure wi pervades whole country is not unexpected . who havo watched the aspect ef the markets several months r The extensire baton gy a. Western lands, levelopement in to large railway com) sisters at Bf Sales octane domestic manufactures, and the high price of the raw ma- to-ial,, together with the excessive avgar lations, all tended to those who waiched the signs of the though it was oct possible \o foresee fuily the extent of iw severity ucr the individual intereste upon which it wouli fall mot beayily. The melanchly (\raster to the Californi steam packet will do much to aggravate the evil, for here is no mere do- preciation ef vaires, or property only changing hands, bat S great loss, such as bas! never, ed before, two of million dollars in gold, and \y much more in the bands Of the passengers, & large nomber of whom are said to have been returning emigrazia, who lad done re- markabiy well anc bad ample funds with them This monetary trouble, cannot, however, continue loog. ‘The wesiber is favorable for ripenipg the largest crops, (the rocrce of national wealth,) that ever were upou the grovnd. The tarveat of wheat bas been large, that of corn will be groater than ever before, and\rugar and cotton’ cultivators are promised « yoar of enormous aod anpara- Hed gain under present pronpects. Business will be very soon adjusted to a now alandard for the value of mapy dosoriptions of property, and go on anew and prosperously, until again broken down by re. newed over action, reverse will not be withoat its benfit, if \t oaly teaches the business mon of the country Bot to eproad their business too fast mpl too fer. The pro fig on @ moderate business, kept continually under the eye and within of the merchant or manufac. varer, * il) almost be larger than those of a more extevsive buriness, too widely difrused, and requiring an ‘amount of capital which every lime becomes scarce, sabjeots (he whole industrial irterost to the tender merotes of the money lenders, and cripples the banks by the wiih- drawal of .betr deponita and the return of their eircelation. Men engaged In busipors should not keep their capital inverted too closely ; they shculd always keep excogl om hand to work a'ong safely on thelr on rosources, and to ‘meet their liabilities im these Umes of periolical preseure, oh aro always ecem to threaten a visitation boloretand. ! It is always thought bat little better than madness for an arm; te take the field without a body of reservo, which can be called into action to urn the eeale in the moment Of doubtful comtest, or to protect the retrea: of the main army ; and the butiness maa is jaite ae important |!) ys have areserve of working Capitsl, whieh he can use for hi relief lu advorse timer. Wo shal t have the superstructore of business resting upon ® arm foendation until mon learn thie tr: not to enter info any business requiring’a large amo capital, without adequate means; and more than th portion of i meet Op all thie surplus as fast either jn extending thetr or in invesimen« in basardous #prou lations. The largest port‘on of the mills of New Fogiand are vow running short time, and there i put little doubt that ia lose thao sixty dayn, eltber the raw matorial will fall, 0° mana factures of all kinds advance in proportion to the increased cost of production. VIRGINIA. GREAT KORTHBRN AND WHETERN PANIC. (From the Richmond Examiner, Sept 18 | ‘The most remarkable oon tit!on of things evor kaowa in our financial history it oxists at the North and West atthe & prey to conmuming sarm ‘wos.orn prairies before those vast seas of vogets- now, wit ruled (nances, have nothing to show for thelr immonse Indebtedness to their share and bondholders, but liner 0” Cn bridges, broken lirty depots. Their treasuries fanded and floating debts 1d pat perstructure 0 which has been erec'ed on waiting upon them in overwhelming quantitios for trans- portation The low of the great Western and Northwestern railroads have brought the boating business on the New York canals and the inkon 10 90 low a stale of do- ‘casion as to have reduced the “canals to « solitude and lakes to dreary waate of waters.” But the complication of aifaire only bogine with thit stagnation of lakes and cansie and this dilapid break down of ratircads. Immense quanti grain are acoumo! ati the Worters warehouses, oager ly Peeking transit to theweaboard, and yor failing to goler. ward, the romarkable and anomaior. (>t that dea! ere are disturbed by @ y bave been in the Houre afer hours In bat been strock by the Supposed to be, a0 whiok Of waking their fon, New York of divaster--agne. ally Wore, am a eat in there cites; mo that from the far West tt is impossi- ble to decide whom ano what to trust in ay Present moment. In rege to their lands, they have .sucoseded, in the fever of speculation, in precisely pry the der of things. Where unoccu) jand na fusion as vast as the waters competition frye J aca byw small sams of ge ‘which is soarce) to command Immense quantities A drug) 4 7 But the new type of the muliioaulis fever which at the Wes; has entirely reversed this state of affairs. City lots in Chicago are held at higher rates than lote in hy ground; ‘Ghioago 16 $10,000 to $15,000 per annom, throwing those of the marble pslaces of Broad- ‘way in'the shade, The prices of elevated also to the same rickety heights; in #0 much that farms in IUinols, a thousand miles from market, over broken unrippled lakes and canals, are held Virginia lands along the navigable peake, within sight of the white sails Coming to our Eastern cities on the Northern seaboard, and sta ely masts of our ocean craft. we nee a more aggravated state of even than in the bankrupt and volcanis West. In New York, for instanco, one bright midday, some fortnight ago, «sudden thun: der gust of panic struck the vi of trade, while under fall headway, with all salle set; from that this if would seom os if tho vessel crash, spreading dismay and Giatrust around their ruins, destroying the confidence of banke in banks, of banks in individuals, and of individuals in banks, and shaking the whole fabric of commersial credits and trusts. In a few weeks the deposits with the banks in New York have fallen off ten millions of dollars individuals withdrawing that sum from banks they were afraid to trust. In game period the banks, in their turn distrustiog customers, have reduced the ‘amount of their loans by twelve miHions of dollars; and so Napehded warlonny distrast goes on, ite victims boing the agents mutually used for mutaally victimizing each other, Oa August8 the loans of the New York banks were $122,100,000, and their deposits $67,400,000. On Soptem- thiri} “i saint’ the deposite $57, 1400,000—-ah iy days (1); t ahow- ing @ falling off of ten millions, or sixteen ‘per cent from the Anguat Sgures, aes bocrowere from he banks are ine! y the pressure precisely in ree i a Positore with the banks withdraw their funds from the lorgust of panic, and in wha! causes it originated, are not subjects of our present inquiry. Weare only ite prominent features and characteristics. And not the remarkable of these is the fact that our foreign trade for the flacal year ending on the Girat of Inst July, as well as for the tecal year next pre- ending |', apy the most favorable balance shoots we ave bad for a long course of years. Our re ex ports for tne fiscal year just expired wore... $362,049,144 And our aggregate imports... « 360,800,141 Giving a balance on the credit side for 1866-7 of. BRE % ++ $2,059,003 Our foreign trade for the year nex; preced ng the last, prenented those fgurea:— Aggregate exports for 1865-6. ‘Do, imports do Giving @ balance 1n the credit side of...... $12 385,976 Here is prima facie a very favorable ¢xhibit of our foreign business. An analysis of the figures, however, expores & much more unsyund condition of things than Presents itself at first In 1855-'6 our exportations Of foreign and domeati exports being $28! ,240.4 ratio of specie to other ex Pod being rather more thau one-seventh. 1356-7, ‘ever, the fiscal year just expired, our apecte exoorts were $67,539,716; and of all er exports, $29,400,427; the specie 4 fourth o/ the other ex 5 ‘allfona’ ‘of dollars in one quire the sending a>road of no leas specie, or ss large an amount in twelve bave in the country. An anomalous inflation of land prices fm the West, where land, according to the laws of supply avd demand, ought to ve!l for a song; an unmatural in‘iation ef all prices, ncswithetandiag an enormous and growing dis of values (o specie in the country; and aniversal habits of end ig causes of the disorders which aro apreadiog LJ ps ruin and dismay over the whole face of the North and West. We bail not be able to onsape the pressuro in Virginia and tho Bouth: for our banking s¥siom |s a part of ope grea system having ite centre in Now York, and no por. lion of the system oan escape ite share of the shook that makes the cen\re quake. Oar tedacco trade, for instance, which this banking sys- tem has centered in New York, is already feeling wih a yeogeance the pressure which is raging in New York. Tobacco of the quailty which ten days ago sold in Rot. mond for $:5, $17 and $20, sold for $10, $12 and $14, a0d the market fall ia sudden and disastrous tombie? Now York bouses will Rot come under further soceptances, some faiting to thelr aoreptences now maturing; thus rudely tntorru; the ooarse of trade, and coanking the wheels tors on credit here, whore br of life are acceptances. The same state of things exists also ia whest and ‘lour market that exists in tae tobacco market oi Richmond. The end is not yet. This sudden “slide” of must bring dows to the ground the large class of overa- tors who have been working on credit and who have been flying kites between mond and New York at so galiens & rate Goring all the late beyday of speculation aud mouey plethora. THE PRESSURE IN EUROPE. EFFECTS OF THE AMBRIOAN FINANOIAL ORISIO IN ENGLAND [From the London Times ey Article) Sept. 10 | The inet {nteil! from New York onrious copa.de ing the conditions on which American secorities held here can merely be conjeot red. Five years back it was thought to be nearly riaty millions erie cor a humtred millions nuit the of the Russian Y paid large and rogular. dlvicends, but the oom) 3 raise fresh money as it war wanied ¢n second, third and fourth in London, having then reosived « check, there has since been « constant down ward ‘ il perhaps twothirds of the weaker sort have into comparative insolvency. Fer a time, when dist!! could no longer be made from capital, the device was hit upen of pa; what are called sor p dividends, and as there cost Cacelly showes ey liberal scale, The accounts showed to the shareboidere that there was profit of about 10 balance had invariably some and sociden ia! handed over to wo hence. The position, Thus far the reanit had, other than might have been tiory of the State loans over again A ber of Congress or Assembly coming over to England had only to make a demand large enough, and he could get all he wanted. Ho would go to & loading lronmamer, gives heavy order for rails, pay about 30 or 40 per cent above their val And trast to thie gentioman for the disposal, through brokers ana others tempted by « noble per. centage, of euch amount of stocks and bonds as might be deemed aspropriate for the moment. The next and each succceding yoar the might of course be repeated, sino the ity of the part airea:y constructed rendered exiensiona of all. kinds \odispensable. But it was to bave been au that ex perience dearly purcbared would at length have geno rated some prudence Apparently, however, our people ble last railway concern that hae broken Southern, and it te eald that oniy 9 d ainoe the President paid a wisi fo sand induced them considera ly ¢ * Sl, inmiances of the kind are the wholeeale apathy exdidited the Brgltch shareholit extend there commitons fan nx thing compared Incredible an it may #eorn, ovr eighty millions oF more of America weurtiies are left to take their chances will holders ene wing on learning anything about them, excrp! fr the mans,ing parties. The Pall #ay CO mpauion iasue ro ouly once « year, wually Of 126 most vague deseri; tion, wed purpose the principal undertakings to ruin. Unlike those of other country, the majority of the leading speculators New York are devoted to the task of depreciating the Whether this the validity each kind of security to be called in question, and thus to create universal distrost. They aro awo said to succeed in ‘8 vast number of instances in got ‘hetr own creatures into the control of companies, ostonaibly supporiiug or op- poring (bem as may dest suit thotr jactics In each particular case. new revelation of frend is hailed aga triam 2h, ‘aud such directors aud sharehoidors as may sho: sition to take advantage of technioalition to defeat all equitable claims, imeterd of being hooted from the Ex- change, find a circle of admirers. Of course this state of things would end, or be great!” tigated, if the stock aud Dondholders were toexoroire .giinnoe, In mowt instances the proceedings are £0 notur. os acd the eae ment s0 complete and long contirued that = iy vestors, if thoy tad avy rational agont on pot, Compile of amerioan shoctholer, ad sparen ay, 80 muitice of Ar elders, and, a a possibility @” forming one. Yet something should be done, if os rg to remedy the evil. Some persons will say the best remedy would be found by an avoldance of American investmente aliogetber; but this, although it seems Hkely enough (9 bo Drought about unless the rea pectable portion of the American mercantilo communi can conizive to influence pudilc opinion, is not a reaul that any one anzious for the alvancement of the best in- terests of both countries would wish to see take place. No field for the employment of capital fe superior to that of the United Sia'es, and the sy upathies of businevs begat & universal disposition here (o seek it and trusi to it. Un der such circumstances it is deplorable that owing toa want of concerted aciion among tho honest portions of the two communities a depraved minority should command all Soo Seana 98 catiegeae, and render conidence im- ible. ™ [From the London Herald (City Article), Sept. 11.) The recent collapse of the Obio Life Insurance and Urust Company, ard the disorganiced: ition of the finances of the Michigan Southern Ral'road, have exalted considern- ble aitention in the Loudon mcney market. Although there events arc only @ repeiition of what has before oc curred in consec!ion with American secu: ities, the Eagliah pubiic, it is feared, will be severo sufferers througo ‘ho depreciation which has just taken place. The violent panic ‘which accompatied this fresh revelation of fraud and disaster has, it appears, been stimulated by an organized band of specul.tors whore movements aro regulated in ‘000: dance with the views they may entertain of the poal- ton of certain properties. Directing their best exergics to decry and render urpopular tho lasted securities, thoy ob {ain & complete mastery over quotations, avd if the oompany be in @ week or unhealthy condition, the resnit is absolute annibilation, or » heavy fall io general market ya'ue. Such is the statement coutained in some of the latest American Es ‘as accounting for the progressive decline, and it jas elicited the suggestion tiat, consttering tue large mount of Euglish property at stake in those nndertakiags, it would be well if a committes in Lon a don were formod polnied in New York to coperste with ial bankers aud capitaliste of that State jures for prove . {bis recommendation deserves Consideration, and little dolay should be allowed to ocour ip maturing arrengemeats which would give it effeot, the interosts identified with a capital of £80,000,000 or £100,000,000 doscrving to be vigtiantiy guard bay it will, at the sme time, bo requisite to caulion the pub We against gt Sg munch conddesce in future in Ame rican lies, the attraction of six aad seven per cent Compared to the risk iwevrred by u timate depreciation. Therepudiation of State stocks years since, the later discovery of the Schuyler frauds and the immedi ate recurrence fimilor di » Should prove am- ple warning to thote disposed to make investments on the other side of the Ationtic. Enormuous as the resources of the country may be a check ought to be given to the efllox of money which is thos dishonestly dosit with, and made the medium of developieg acknowlodged riobes without a proporilonal retarn of the subscriver. fresh su| can ite of English copite: should be jal enterprize From the London News (city article), Sept. 10 sContral Railroad aver were canine, Jale severe fall hsving led to some inquiry. may be quoted 2 to pa Most other American securities remain dull, [From the London News (oit* article), Sept. 11.) The American advices montioa that all the directors of the Michigan Southern Railroad Company have teadcred thetr tion, and a bog of stockholders is appointed to be held at Adrian, Michigan, on the 25th of September to clect thirteen directors. A oomuniites of stockholders, men of good sianding, bas also been appoint od to examine into the ilabilities and resourcss of tae com- pay. Iilinols Central Railroad tharos towards recovery to day, closirg a2) ponition of the market for Ainorican secrr! ios is thus noticed by Messrs. |) Bell, Son & Go , of Loudon, During tho past week the actual transactions boih in American State and railroad securities bave been fow and unimportant, and prices still continue for the most park romizal — Do 6 per ceni, bonds, ines. Alabawa 6 per cert bonds, pe « Miseicnippi 6 per ot PI. Sk onde, 1841 Do, 8 per cent Union Bank bonds, Poore) 6 per cent sterling Penas} Virgin! per ceni bonds, 1880... Virgicin 6 per cont sterling bonds, 188 Boston 456 per cent & erling New Oriears 6 ofnt stock, Ill'nots Centre! 7 per cent, 187 Iitixots Central 7 per ce Iilnols Ceniral 7 per cei Do. prowium ° Michi 1 1869 cy New York Central 7 per coat convertible, from Jave 15, 1867. bi sesso. 8 New York Central 6 per ct., not conv N.Y. and Brie 7 por cent, 34 mort, De. ¢0. 7 per cent, o 2 6 ‘De. ¢0. 7 per cent, sioking fund, 1575. 73 @ 75 Pennsylvania Ceniral 6 per cent, lst morigase, Convertible till 1860, 1880........... coe 8 OT LATRET FINANCIAL FRAUDS IN ENGLAND. (From tho London Advertiser, Sops 11) In the course of a day or two the town, and the country as well, will be startiod by the \uielligepco—as ye! Known only to's few—that a well known ats bas quittod Kagiané, or is ot least presumet to have done so, leaviag ind him debts tothe amount of about £159,000, ($750,- C0,) including forgeries on a giganticecals. We hear that one of the joint stock banks will bea serious su‘ferer by (bese . But perbans the most extraordinary part of all is, tbat the deliaqren, bar commiticd « forgery on bis own married dsughier to the extent of £7,000. Like the whole clase of criminais on ® groat scale to which the party belongs, be Kept a mago/Goent couniry house, and red in somptuons style n ] of (From the London Heralt, Sept Information has transpired of the tligh pamed Dean, 10, It is aileged, has coms to ® cons! le extent. An amount £160,000 to £160,000 has been tioned , believed to be exaggerated. The debt due to the Loo and Westcinster Bank \¢ cot more than £3 000, though |: bas been discovered that the securities are !rregular. [From the London Nowe | Detective officers arc in persult of him, ae he ie charged with (raed aed forgery. We bolleve, however, that tbe total amount of bis Tiabilitien, aa (er ag can be ae: cortaiped, does pot exceed above £26,000, that tie cireto of euilerers scarcely exceeds haifa dozen persons, ohieiiy bis own relations and |mmediate olients; and that the som in which the bank refrrred to ie intorested, \¢ ander £2,000, and may be partially covered by other eeon- ities, LONDON MONTY MARERT, Fubar Evamina, Sept. 11 —The fande continue to exhi- bit great doliness, and (hore has not been « single ‘la0- tuation throughout the day. Ooneole were quoted at OK to %( for money, and 9:5; to & for the 14tn of October India sok left Ol wt 210 to 319; India bonda, is. to 17s. digcoant Money wesin fair tuprly on the Stook Exchange at from 6 1055s por cent, In the discount market aud at the Bank there wat a vory [oll demand. The foreign stock market was alo inanimate, Guatemala wero negotiated at 66; Mexican, for the account, 21 The return from the Bank of Ragland for the weet end. ing the 6th of “eptember presenta tho follow ing results when compared with the previous weeks Pablie doposite £7,087,3'4 Increase... £058,020 Decrease... 346,147 Tnorease... 908,241 Govern ment securitios Uther seouritics Notes unemployed The amount f notes 6,064 670 clroulation ia £19,245,840, & Cocreaae of £77.35; and the stock of bullion in both de being parimonts ts £11,491,515, showing @ decrease of £9,214 when compared with ibe pronoding return The amount of the “rest’’ in the present retarn Is £$,893.961, and a dividend of six per ost deducted from this sum would leave £3,090,071, which being above the limit of throe millions usually fixed for tho reserve, it ie possible that this will be the rate at which the next divi- dend wi!l be coclered. the retarn of the Bank of France thi month presente no very ® ‘king fomtures. Tho sionx of bullion ie now £0,020 °C0, shoving a9 Inorease of £120,000, which is lee bad beon antolpated, expecially as the recent purchaser bare vcen large, The position of the estab Hiabment has been stresgtbensd by a diminution of £604,000 \n the note leeuee. Thore has also soon a de oreo of £7) 40,000 im the discounts, and of £628,009 in the |ALTERTEWAITE’S Mag borg Lonpos, Se; Since our advioes of ihe stb, the money market haa beox quiets Dut dull, owing to the absence of advices from In Console close at 90\{ a 00%, for money, and 905; & 90% for acoount. The disastrous lew York nas caused holders of Americas seourit Central, illimol~ Central, Reading, Pennsy , Baltimore and Littlo Miam! Ha/lroads have purchased thore on thelr merits, and as thelr accovuts aro fali and clesr the povition of all of them is well unders'ood. The absence of proper accounts in the Michigan Southern has destroyed conddence in the ment, but not in ‘the positon of the lino for business itiom Bas beea called to the veators of money in railroad stoc! DEPRESSION ON THE PARIS BOURSE. [From the Paris Spectateur, Sept. 10 | 4 a8, Ae Fe, CS Two circumstances may oxplain the present industrial and commercial inertness. Firat, it msy be affirmed that the prodvotion of the country having been unusually stimulated during the last two yore, and perticuarly ia 1855, under the influence of the Universal Exhibition, a very naturel reaction has deolared itself, and that the movement is now objestionably slow, because |; was too rapid previovsly. In the next piace, it may be declared that itis notalways at tho outset that are felt the evils which aro destines in the end to produce most effect. ‘Thus, wo borrowed 1,600 millions ia 1865 and 1856 for the ‘war; we expenced during ‘he saine period vearly 1,000 millions in works of public utility; addition, wo sent Jargo sums to foreign countries corn; and yet the dificulties whieh were to be wrestied with during that period were scarcely erceptible, lowable to believe that if the burden was so light ip 1355 and 1856, the reason was that it was lo be heavier during the years which were to follow. Societies, like governments, have the faculty of anticipating on ihe fu ture in matters of credit, ‘@ have somewhat abused that faculty, and we now pay the penalty of our having done so. e year 1867 liquidates antert or ep; mente, end perhaps expia'es some acta of rashness. Sich wo conceive to be the caute of the present crisia in industrial and commercial matters. The same {s not, however, the caso ia what relates to the depreciation of the public funds, and particularly of industrial securities. Hore now ‘G+uses are added to the old ones. Without doubt, the de- preciation in the funds is also the consequence of the rerity of capital, which bas been absorbed az striod but it arises also from the notable dimi- of receipts, which is connected with the sisc¥ness existing in commercial maiters. These are not. perhaps, the only ocausez which have exercised their iufluence in producing Present depreciation. We conceive the priacipal causes to be found ia the dif. forent attitude of the governmen; and of public opinion with respect to industrial companies, and, above all, thoss of railways. The government (rat remodelled the tariils and conditions of the railway companies, then imposed on cial tax, and lastly, insisted on the execution of branch lines more or less exoensive. As those measarcs coimcided with financial difficulties amd with the shifts which the campanics are forced (o for the purpose of obtain ing the funds necessary for the cominuation of their works, ‘siarm was caused, ard men began to ask each o:her if in ¢ustrial securities were not serioasiy menaced in thelr future proepccts. No astonisihmert should if, under the influence of these ore occupations, the res of the vest lines bave at present falien so considerably. All is conjointly responsible in pablis credit, and the weight wih which railway aharee aro Icaded leo bears down tho 1 THE CREDIT MOBILIER OF PARI?. [From the Loudon Tiwes, (City article,) sept. 11.) The private letters from Paris siate that the rocent diffi- culties in Gonnection with the management of the Creilit Mobilier have been smoothed over. Ernest out tention. This result was to have been expected, since the uspices uncer which tho eetablishment was formed re such as to forbid iho iden of its being lowed to break up from any internal dissen- sious tbat would admit of fu rd Tt was on public grounds only thet the ixatitution was to be viewed with disfavor; and now that the eyes af all must Rave been opened to the unsound character of vs original pretensions, and. its power ndly been ited, there could be no o'her fi has conseqrue feetipg than one of re- gret at Sunceing any indtyidual disasiers tbat might avend ite condition. The nope must be thai li will gradua! ‘abarcholdcrs te be content with comparaiirciy tu te piriog: reguiate and monop2l'ze the ‘priee of the empire, it will recognise that po oxtraordiosry galve can be continuously made witiout extraordinary gambiirg, and that t bad better accept the opportunity of quietly conduciing its affairs on the safe oid principles current be fore banks of Credit Mobilier were ever beard of. Spanish Troops at Quarantine. The bark Awaila, Capt. tera, arrivod at this port from Havana, while on her way to Cadiz, Spain, baying pat ia im distress, laden with sugar, segars, ram and moiasyos. ‘The A. bad on board 106 Spaoieh soldiers, who weroa part of 1,700 sent out by the Spanish government to Ha- vane to aid in quelling any filbusiering demoastration that might appear in ibat quacter. Of those seyontecn beudred, one thousand were carried of by the yellow fever at Havana. Oo Thursday, while she lay ai tho Qaaraniine anchorage, oue maa on board was suposed to bave yellow fever. The doctor visited him and found it to be ouly general debility. The vewsel will dischargo her cargo at Qaaraniine cu Monday aad proceed ¥9 tho oti7 to recair The soldiers will go ashore as the Marine EH o«pi- tal, alr and cleanse tae!r carments, and be given iu charge of ihe Spanish ®ensul, who, it ts und , has crovided sccommedations fcr them la Brooklyn, Tho soldiors are on their way home, No other caso of sickness as appear. ed among the oes on board the vonse!, except the care cited, The Amalia was very much wbattered by the Morm; ber sails wero revi and rigging partially goo, and ‘all bands congratulated themselves on their narrow osoapo from shipwreck. Important Russian Movements, The Russian government bave ocided that the iapguage hail be no longer tavght ta tne public rohool at Irkoutsk, bot aall be replaced by the Kngi'eh language, which, !adeed, considering the traile with Amertoa, is more requictle in that part of Rusia, It 8 & curwus fect, (nat ibe Gazelle de Si. J’eersburg, \a promulgating that deoreo, calle the knglish languspo “ic langue Amertcaine "’ ‘The Berlin corresponcont of tae London Times, writing the 9th lost, rave The Emperor bas lately confirmed a proporal put for- ward by the P ard of F lucation, ai of the Gymoarium im Irkoutek, that in fatare the teaching 0! (he German lang there may be superseded by that of English. This lent has bees d voli upoa i the preet tas proof of @ more conciiistory feeling to ards England now growing up tm high p to Rat , but the imoorrect as tho up are the same, parentheses afer the word “ Kaglish,’ proof mot of any increased love to the English, bul that the inhabilants of Siberia, particularly those om the bani of the Amoor, recognise that’ their future wu depend ‘much rather on their dealings with intled States 10 the taut, by means of the 2 than the government \s in ertions to develops all empire, apd by crgauizing ® flotilla on the river and a ‘eet on the Pacis the Tar, Tobol, Irtisch, and Obi, there are already ber of steamers angaged in the convey- ance 0 ad passengers. Ou the Amoor, as yet ihe 0 traffic hae still to be developed, but moch is expected frcr) the treaty that bat lately been concluded wih Tepes. BMiscelianeous Iteme, Tne London of the ‘ih of Sop Prioress is favorably ¢ American papers may trary, the success of the “stare and stripes’ genoral gratification. By the wey, whi the Temes mean by stating that | rriorees bed taken piace at York, ‘they should have re ceived \t with distrust!” Tt thea goos on to state that the “management of Goodwood Races ls beyond suapic cn.” London Sun of the 7th of September says:—Tole omg formation ft has reacved Nottingham of he die co ‘ta Now York of Frederick Baxter, the absoonding baokropt. Only email sum of money, focnd upon his persoo. A further eum ‘wards obtained from bim, making £760. f the London Standard, writing —Te Ured!; Mobilier shares ont £560, was £400 was alwor talon rentgoat) lirectors haa been denied, bat | have reason to believe bat this feo will be officially announced, and that a thorongh investigation of (Taire will be made. The | Globe of the 7th inet, remarka— Weare not yo tbat M Auguste fhurneysven’s sociation with Frenoh and English capitalists wat limited to “railway” business; on the contrary inclined to doabt whe thertho ‘cautions which we have fram time to time put forth bave been suftictently secepted by some persons in our own city; and we look with anxiety for any ex tions which may be givea by the spontors of the Socidta de Crédit Mobtiter in ‘The London (lobe of Tth of Sestomber saye:—That the mea joriiy of all partios in the Vaited States look upon Utah at & plague spot which showld be wiped away wo have no: the leases doubt; that afr [ochanan is antious to make the lew of federation ree sected and observed in arm Young's dominions we bave no renson to disbelieve, The President, however, has whown a diapovition to suppress the Mormon svomication fo fer aa it can be rosched with the sabre and bayonct Bot we quest on whetaer thie Will bo done bece 186 polygamy, Im lie Anrkent oolo”m, ls & “domestic inatitation’’ in the Mormon jerr't», bat be cameo the Mormon chiefe baye deved ths or of the federation, mareacred and \i!aved ie oMoer> 6 | setups amen which is not repud PRICE TWO CEN’ TS. Trial of Jas. P, Donnelly for the Murder of Albert 8, Moses—The Summing Up of the Evidence. COUST OF OYMR AND THRMINER. Faamio.n, Sept. 94, 1867, WIRTH DAY—APTERNOON AERION, The Court resumed its sitting at 2 o’clock. The court densely crowded with ladies, many of whom distance of thirty miles to bear the addresses of the counse| epgegrd in the case. Daring the summing up of the District Attorney Donnelly retained his asual nanimity, and hetrayed no symptoms of fear as to the resu t of the trial. Mr Joei Parker, District Attorney of Monmouth county, oocupied the attention of the court and jury for neariy threo hourr. He that the desire of Donuclly to conceal his fanite was the m=tive for the commission of the murder; that the murder was committed solely with pinks tocirar bimself ef the charge of embezzlement vat wr ui! dying dociaratio: 0 Into consideration, there could not be @ more conclusive case of guitt estab- Pew’ by any prosecution. Mr. Parker referred to je bare avempt, the mother of the decease’, but it had ulterly failed. de- ceased’s character was also unepotted, nocwithstanding the tneinvations of the gentleman who cpened the case for the defence. Their characters would compare very favorably with that of the prisoner, and the latter’s only misfortune was that bis cbaracter was not as good as those whom bo songbt to assail. An to the saniiy of Moses be was sure there could be no doubt. All the witoerres agreed thai he was perfectly rational, even up to the lest moment. He warned tho jury not to evince any sympathy for olther side They were obliged to do their duty aecording to law, without sympathy for prisoner or deceased, or the relatives of either. Io conclusion, Mr. Parker pad New York physicians, and Coroner Connery esp‘cially, a left-handed compliment. ‘The theory of Dr. Connory relativs delirtam tremeng belng predoced by Icsa of blood, was all created {n ihe fer- tile )magtvation of the witness. Dr. Van Buren, who was & physician of eminence, raid thai loss of blood would preducs rothing more than mere faintness and toial sus- persion of the a ae De Connery would have teem beliove quite the vite, Was Albert S. Moses murdered by Jas. ®. Donuelly ? was the sole quostion for the jary to determine, in the present txsue between tho People ofthe Htate of New Jersey and the prisoner at tho ar. ‘At the conclusion of Mr. Parker's address the Court adjoarned until 9 o'clock the noxt day. YEYTH DAY The Court reeumed ite session at 1 o'clock to-day, The cousirecns, 00 on the previous day, was filled to suffoca- n. ‘A fow minutes aftor the opening of the Ocurt Mr. Bred- ley , counss! for the defence, aroao and made a moving ap- peal in favor of bis citen! Quarantine Steamtug Selzed for Smuggling. The Quarantine steamtug, Robert 0. Smith, for some months past engaged tugg'ng vessels at Quarantive, was seized wt noon om Friday, (yesterday,) by the Custom House oflicers stationed ai Quarantine, for having, as is al- leged, brovgot away a lot of segars from the Mary Alice , now lying at tho lower anchor: Itie said that as many Havana se; as could be stowed In the water casks were taken the vessel. fhe mireloners of Health last spring pased @ reeriation to employ atug forthe use of the Hoalth Officer, which would also Bave the privilege of doing tugging 0a her own socount at Q . tine. il about three ws ago thie tug was in cbarge of Peter W. Roll, George W. Daley and auother person. At the prerent time Koll was engaged im some other capact:y on boari, and when te vessel was je was understood to be ander the command of Wake! iz, ® pilot. These two men were taken up to the Custom House on the arrival of the at Whitehall at 3. o'clock, and police officers Washington Ryer and Queeney, stationed on board of her tn charge. The ert if for ‘© mon, seemed to know nothing of the affair. gis sald to bave cooarred on Thoreday. th nas been a privileged craft at Qaaran- tine during the mer, but her former Quarantine offi- cere and bands disclaim apy suca nefarious practices ag ‘The « Pin” White Oefalcation Case, EXAMINATION BEFORE JUSTIOR JAMES M. PLAN- BAU, BTO., ECO. The cross-oxamination of Mr. James H. Stevens, the broker at whose instance ‘Plin’’ White was lately ar- rested on charge of defrauding bim and others out of $47,000, was resumed yesierday afternoon in the private office of Justice Flandroan, at the Jeflerson Market Police Court. Hon. Levi 8, Chatfield appeared im behalf of the piain- and ex Jodge Whiting and Hon. Parieh{Olark for ‘iin’ Wh te, the Intier conducting the evidence. Mr. Sevens, upou being called to the stand, sid My brother's ‘name is Heary L. Stevoas; he resides ia New York city; ho is younger than myself; be for Europe two wooxe 61> ey es ia Now ¥. Bing formerly engaged ‘siifornia some yours ago, ; Minor bis retorn have been in basi- started near the Bull’s Head and rome two years No 60 Chamber Phim’? White about one year ago, but Kaew him previous to thet time as one of our customers; he used to sell us uneurrent money tro or three times each work, which was, indeed, tho only bosicers I did with him; f once heard of s Mr. White baving some connection with, = sion, bat it wae only recently that £ Wate; Toannot say who it was that I bave inquired of my customers ia rela- to the sianding of #r, White, bow much be worth, and whet kind of « man he war as oltber Avguat or September, 1866, thas | mate there inquiries: they were made before ‘Mr, White appliod for ‘be first loan; our firm had loaned Mr, White money be- fore November, 1859, mentioned rt rss of these small loans was about tho first of Avgust, 1666: one John D, came to oar office nd spoke something tu rolation ‘‘P’lin’’ Waite; he wid me the cashier of ibe Importers’ and Traders’ Bank had sent him; | cannot tell cxnctiy what time & was in Novem- Der that ihe fiat 0 spoken cf in ‘he comp! aint was made: {conact tel! the amount of the fret loan; wo have the cheeks in our pomession that wore then gives to ‘Plin’? 1 the request of Mr. Clark tho examizaiton was edjoura- 04 Wil next fecsday, at 3 P.M. Masovle Peace Convention, A large naw bor of delogates from the various Masonic lodges of this city working under the (irand Lodge of ine Sate of Now York, of which the Most Worshipfal Jona 8. Lewis is Grand Master, who are in favor of healing the \fferences existicg between the various city and country lodges, working under that Jurisfiction since 1948 amd 1849, assembled at Odd Fellows’ iiall last evening, in com- pliance with the following call, issued to each lodge of the Jariadiotion in the city ~— Frw Youx, Sept. 7. 1867. To rae W. M. Waxness Axo Bretingn oF rus Lover — An adjourned mee'ing of the Masonic Peace Convent i will be bed oo Friday evening, he 25th instant, at § o'clock, at the Grand Loge room, Ode Fellows’ Hail, to boar the report of the Commitee on édvees, and atioad to gush other business as may te ‘come n: sternity one barmon Bena throngout the eta'e,. his lodge ia earnestly soliche’ to bend representatives Ail aster Masous ia god wanding are Fespeotiully im rain i" Bont. Bi Cuas F, The meeting was organired with Worshipfal Brother Wm. Gurney in the chair and Bros. Robt Beaty and Obas F, Nowton as secretaries. The Grst business called up was the repors of ibe commities, at & pro- vious meeting, to draft an address we members of hout the Stale in relation to the the jurtedtstion throu m with J contention ‘Any political or soifian ends to serve, or amoition to gra- tify, but averred that ou the contrary it simply bea im ew ish to do justice to the cause of at large. The address concladed by inviting the fact that » large mrjor iy of the lodges and mate On peace Tue adress an avis of tnion (heretofore published) a og the matter in charge, and & Gopy thereof teommined to each member of the cra throughous the Sia’e, working ender the jariedietion ‘ANer the transaction of some farther animportant bast rene, the Convention adjourned, subject to the call of the President The Sbab of Persi*, haw placed bie Mahrmedan, Chrie. tian and Jewish subjocta on & footing of perfect eqnality. Perrous her religion will in fuiure be permiit serve Whe State,