The New York Herald Newspaper, October 10, 1857, Page 2

2 NEW YORK HERALD, SATURDAY, OCTOBER 10, 1857. ANOTHER CURRENCY MEETING IN ST. | Gatdle of this morning was worked off:—We have been shows Messrs. Cook & Sa, en eteaing, Uaiing morving. From tea o'clock Beekman strest, from Nessna wrest to Park row, presented a scene of the greatest ex: tement. There was a perfect rush of depositors forcing ‘eeir way to the desk of the paying teller, who was i E 5 i i} i i E Promptly dea ing out piles of gold to the timid and anxious ‘The adjourned meeting of the ead others | Boston basks leaves New York alone, ead she cannot Clatmants, while the street outside was eo densely throng: beld yesterday morning at the Exchange Hall was very oad 6 three days without relaing New York oly. We ed with curious spectators that the ald of w polies force OT assis called to order at 12 o'clock by Preai- eis tak aa ean ation ao was found necessary to keep the track clear. dent Ames, Gea. Chairman of the {0 | cle basis in New York, and = carrency batis , Upwards of $20,000 was paid out to the demands of de" whom was referred the resolutions of the previous day, be found im the fact that K, W Clark, Dodge & positors up 10 one c’olock, at whioh time the panic sab: Se ee UM ro New Fork, uadar 1 peata Dias, bad vo suspend ~ ree Sete ” on wi + a 4 sided. In the early part of the day {t was said that ihe eee, en ele ee tr: | under a curroney basi, aro not compelled to | sidered the state of the men>y market end determined not vy Sy Ay a yp LF bank could not etand {t more (baa a few hours; and at one a Oniesdy, King, * | guepend, and so advise thelr correspondents here by tole- te pay ton or twenty 6inre fa Feiner Donnel, have set | Inquire as above of Mr, BULKLBY. me i was reported that the directors had decided to sus- Charies L. Tucker was requested to act as secretary. graph. making bonnets Tor themeel CASH W:LL BUY A BEAUTIFUL twe . Heary, Bank Commissioner present It ts ondd that theroare now laid up in the viol! of pend, which ceased much uneasiness. Such, however, tortion — dbname sega MICHIGAN. : Bunls"about one p in the vicinity of | $ 0 Hiory house and four, lls, near M ro avowna, ‘was not the fact, as every demand continued to be met, P Paved Meek Gowregetion vetwe ; | STOPPAGE OF THEY ARMEKs’ AND MECHANTOS’ BANK. | hauled of Some of the depositors accepted bills of the Park Baak, Spots Semrecinere tet Sas eee a ee Ed etek we a Prscesexeba ‘The yeas and nays being called the vole stood as follows:— Farmers and Mechanica’ Bank open Ite doors | Change, at toy bane indeed they aro—perfeotly safe. | atta io know the real condition of thingy in Our city. | YeasOpieaby, Wail, Garnier Hoganand wouney =o yenerday moruing, An injandtirn bad born Pi a yelp mn $ LOR SALE, TWO, SPLENDID BNC In the street there was a variety of opinions as tothe | 4 tow prepared, Pe UL pa ie ee eget Ut, ob the 5s onee of Who Ateraay General, ox We | far 6, 10 or 96 orate. Detren Reon urd Fulrdwrpauon eine Cefn ee rare eecurity of the bank, bat the prevailing one was that the | know will be heartily responsed to by every merchant, resshuilon Which wea Weaglircde. pig nciowing mame ounds ) eas sae a ne one ‘The Albany Argus eave:—There is & very large number a have of Yon was alla humbug. One gen 'leman assured theanxious | @Atufecturer and therefore report ihe faot of thelr dleagreement upon the main | of the Peningular Bank, iit bed become evident | Of people In thir city a4 the present time Most of the | Ingn gen talk he the tantet in erated pret anu Fo lg yom ped only ret eae concern: Wen, eed le ohare ony Chairman that dhe Deak Gould uot wittstond the ‘uncensing Asuras meamatonering soles Sanacen, Rave rogoed els warsine | and pais, Fine, for honse, oF woul Toto genie fe oly land tied inate, Haow inere wav si8f000 fe the Sulla tie Hnowios go of geatlomea who ohood with Binion | rots, erjalion of Mr. January, referred to In the abore Fy er mae der yp rindiy tet cladeed $0 coam-Taundreds of eewing gis have er, hater. ‘Apply to Mr MoMANUB, whe baliding or 150 cama wi wi was was LJ A 4 le we fact Teecmis ecto ie, Are | Seve Ge Sardis rhe wri Orato | Mcocia co oneness cringe: | nent ws haem Se ad | a ee eo gineering. My opie abe at bts res cosmos wows | 5G ret ec anit vas enon nema, | okey nae Mata leony awsome | Meh OG nee hay ann nese afl | cue im ntnng od Talo shore at "imaly wm | $20,000, PoPeGal, ota uty CauaaR . 8 tne it, and to some measure yeosts source 2 “og cll ‘as were pormitiod by tho potios to en py im ecireat from s tar receives Yester- whereby tre credit ‘of those already med may be sus- pae,_ Be zeal bad basa redaeed. a some sevoaty 4 fo pn AL £9 mpage ad Sreemian | oe ‘Oryatal Palaoe. “Apply to Mr. OODWORTH teonhee, ter, while waitlog for (heir turn at the TeliOr's ie Tene | 2g eatablishments in Ameria, by some gentomen cf this | “Gen: Rawway accompanied his report with afew re- | and its private deposltu—other, we menu, than thove of ndonien ant: ho. comes nistet ae, ba, toe ening 200.000 amr BEAy, i PROPERTY. gna city. The assisiange asked for by the iottor was readily | marke, staiing the: it was the desire of several merchants ihe cliy--bed heen peas owinenian Wenend Callers ot poe . that there are 40,000 SI hone eee AF are « 1thoue seven fst Slams grented. The extract {1 as follows:— with hom be had conversed that currency be received at thea ssiee, OC sents, BBS, Pong ey me ) pienge (ti) Denes vee pg RS Slory martie boures oa Fost ee et a res to the peedieiy alarmec . |. The money ta wanted for the payment of wags; and theo» } par in trade. affairs East, - | bead ward thence several fine houses the excitement He begged of those who wanied thair money | Tergcen rely upon weisiiece. Wahave in our Wihpl vmea | forw any Petar in and get ik’ but implored those who were snore | ibis time two iousand men. 1¢ we can keep a part of them | valuation being placed upon Hlinols money. He said the 4 emp oyed, we think it will help them and the prblic Bo far ae e fog Zo on, ‘The panic bere had subsided, to be only throvgh tale curiosity to leave the place, and not add | ax Oar om a, innewegte are onoerned e 2, malgat Sistates the oun oan an LJ . ee gremer beym | ria rd its subsidence the managers of the bank were confident © scan couiomnes' of Waa cmence the sidewalk wasibech | ley stopent, flemsain. toverer, dommes en toner, | Be bed taken tush toamey tein Siecls Dhimesll and they bad passed the crisis; but though the panic had sab- thing in onr power, and make avy reasonable sacrifice 'o give } not digi of tt. He then offered the follo reso- | sided, confidence bad not becn restored. comparatively clear, but the pile of tamer on tha othor | {ing iB our ‘epose je then wing sraaloon fea peeing dl aaa. Gn Gaia oa a ie Eide ee abe street was filed with poople, aa well ax the om. | '‘Letiers from other parts had been received, Mr. Stuart rigs Sixty eight of the business mon of Detroit have signed | OLAIMING M18 PROPSRTY—A CURIOUS MARRIAGE tre of the eirees, unt! tbe ron was over Tho sigat ofa | saig: giving an equally eloomy vioture, Fe it resolved. That we, the merchants, manufacturers and J - 7 few bags of goid which were conveyed into theside dior, | yr wy wis of Frankford ‘extensive manufac. | Duntpess men of Ft. Louis, agree hereby, that on all psrments | And issued the following notloe:— ABE BESUL‘ING FROM THE LOSS OF THE OBN- nd the obeerfal assurances of several gentlemen on té | turer, was then introduced. He of debs or mercbancise, made in epecie funds, we will allow 70 TUR GTIZENG OF MICHIGAN. TRAL AMERICA. it . ea iw remarks, sires, bed the eifsct of ai/aying a good deal of the excite | growing how. unless relief of some kiad be oviained, im: | mcetora talldoher oo es atmo Wil ake conten | The Yesterday morning the two women, Susan and Marge- L i. L ret Petorius, came into this court again as claimanis of the Ment, and at ome o’cl.ox to be or mense nombers of operatives (in addition to those now | eit ‘uriber reeoived, That rot withstanding we idle) will be thrown out of employment, and general oa. | ourselves pay or reoel kind of currency as SUSPENSION OF THE BOWERY BANK. Early yesterday morning there was a run of boih de- positors and billholders con the Bowery Bank, which oon- ‘ tpued until the afternoon, when the bank was compellet sop. Application was made to several other banks to extend aid, but they refused. By the last report it appeared that&heir specie was but $22,393, which was, of course, exhausted in a few hours, and a suspension be- Came inevitable. CENTRAL BANK OF BROOKLYN. SUBPENSION OF PAYMENTS AND THE aPFOINTMENT OF & RACKIVER. ‘There was much exc!iement tn the neighborhood of the Gentral Bank yee'orday morning. It was understood the day previous that the bank had ruspended payments; and long before the time for opening the doers large crowds Of depositors and oibers gathered about On Thureday aferncon last David 8. Quimby, a deposi’ tor and stockholder of the bask, presented a check for $160, payment of which was refused. He therev on, througt his aitorney, obtained an order of injunction from Judge Birdseye, of the Sapr:me Court, and aiso an order calling upon the officers of the bank to show cause why the Dank should not go into | ,vldation anda receiver be ap potntet. The order was made returnable at 10 0’ yesterday morning, at ehich time Mr. Edward Oop! President of ibe bank, appeared and testified as follow: :— dam a of the in $200,600; the amount Of bills to circ: iation is about $90 000; the amount of depo- sits about $300,000; the bank bag about $1,000 tp specie on band; no other cash funds; there are some bills of other bapks under thet bead, but not to any extent; there are no Gepostta of other banks to our credit; we area debtor bapk to the amount of about $25.000; we have about $400,000 discounted paper on band; the Central owes the Marine Bank $25,000, and they have our (oullateral) paper ‘ameunting to $18,000; the siate of our collections during lavt month was very indi‘Terent; there is over $60,000 pro tested paper op hand, ineiuded in the amount of bills dis- ; $120,0.0 is depostied in the savings department; ,000 or $40,000 has been drawn out in tbe lest ten days; the smount in ravings department ieciuded in the amount of deporte previously stated; have no other re Bources to pay ibe dey orite, except in discounted paper: the average maturity of ibe woula be sixty days from this time He stated ‘that the bank was unable tb go on under preeent circemstances. No objection being made to the appiication for the ap- nument of a receive-, the Court appointed Mr. John |. Rew ‘as such receiver. An order was also made that as fast as collections amounting to $5,000 rhould be made the same should be deposiied inthe United Staves Tras. Company, in New York city. Mr. Spader has been paying tellor ef the bank sinoo tis organization, and is 4 stock uold- to tho amount of $4,000 ‘The following is alist of the assets and liabilities of the Dank, as prepared by the Seostver== Rate and ( nited States sto ks $120,255 65 Loans apd dise v0: ams protested paper: (281 2 Specie.... . 1,000 00 Casb ip biis 2,600 00 $026,116 75 $200.00 00 90.900 00 ‘Total ® cece ceeee scene SMTSTL 42 The Coart silowes ine Receiver cul! next Monday to fie bis bonds SUSPENSIONS AND THE WAY THEY ARE PUBLISHED. €7 Raave Sreexr, Oot 8, 1857 Janne Gongs Bmnrrt, P= Tp the list Of suspeurions and failures p:diighed in thin day's Jnfependent toe mames of Bowen, MoNamee & tom Tost, provid sion’ Will you be kind enough to inform» regaier eub there are bundrecs of ethers eq) Pay with the same socow modation’ EDWARD JACKSON. NEW JERSEY. THE TRENTON DANKS ‘The following is toe ttatemout of the baaks of Trenton for the iaat quar er ~ THANTON PANKING COMPANY Assets vithou: counting Douliful Dette pectic. $68,951; dalences and notes of other banks. $6 O88... ase eeesere $100,283 685,000 Owber apsota ore Real estate. . 16,236 Tom... . seeveedeees $187,198 Notes ip otreviation . $143 809 Deposit re end aivisend 173,688 Dee ober barks 108 “ince inst statement in July — Bpeoie here, Ceereane snevscvsesene 80,108 Novee discounted, ieoreas oeeeeee Notes \e circulating, den case Depostiors ‘NSYLVANIA MEBTING OF MERCHANTS IX PaiL ADELPHIA. ‘ the Phileceipbie Penney ivanian, Oct. 9 | er qu Be And highly reepsciable of merchants, mancfactarers and beorinests men held in Inaependence rcsre mt 6 o'clock yesterday afwr- noon, in pursuance of s cal! insced yeaverday morning, 10 take aotion a8 to come menue by which the present mone. tary stringency migbt be ameliorates morting wes Called to order, and Charles Maoales- tor (boven president the chair, made a fow re. pearrd before the meeting in ywob aa the olfest among us 10 that bas come upon us so the houses that hare le for Mfty youre bave been swept eauves of this mate of aifaire, which might be a work of difficulty, The: as ope thing ertain —thet three If to two millions per week, expanded seven miliions {n thirty days, An expansion of seventeen tbe lant of the United the New York baa covering their error, cartaiied within thirty days to the extent of over twelve milttons—a curtalimeant eeficient to Dreak toe strongest commun! y, and ft wae only marvel lous taat so many stood nid Mr. Me ouleater, what resolutions are > be brought forward; bat I deem my Girly tH way | advance, that I convider the present banking +) #tem detec re, and | trust that when tt irwoted. that that reconsiraction ‘inc'ple of the veneral bankin; ty to be given for the ieeues & the ey rtem whieh requirerench rin epesie for every Some provision of this na ” Dank (0 have lo the taree Colas Of iw lamity come upon the ig oy In the city of Phila- doiphia apd ite vicinity, withiu the last four wesks, from ten © twelve thousand cperatives hed been discharged from employment in the cotton and woollen manufactories alone; and in two weeks more, unless relief should grenied, |! would be !uspossib.e for those establishments to goon. If in thats ngle branch of businers 20,000 men bad been throws out of employment there must be in other branches upwards of sixty thousand, and when sixty \hovssnd men are deprived of thelr means of support, at jeaat ove hundred and eighty thousand persons (their wives, their children, and others connected with them), must be thrown into a state of utter destitution; for such is the rate of wages that few have been able to ‘save for Q ray cay.” In this state of things (remarked the apeaker in concluding) we must look to the |.ogisiatare for such relief as it is in their yer to grant. Mr. FREDSRICK FRaLay was next introduced, and was received with spplanse He said:—My fellow’ oliuzens— I bave come among you today to aid in tre scoomplishment of measures which may produce relief to our svffering community. Mort truly may we be calied a suffering cotamunity; for although I bare witnemed four suspensions of specie payments by th bangs, ‘here has never, in my experience, been « suspea- sion attended by such general distress and want of conf. dence ard fear of the future as we now see exbibited. It ery penny; not by making ‘rups’’ upon Considered solvent and reliable. No one, it is to be pre sumed, wishes to deprive them of 5 Bat tt onfortonately that every man ts afrald of the rising son He fears that to morrow he may be thrown out of em pioyment—may be unabie to purchase bread f r bie family—and be therefore thinks \i should hoard today I do bait of seeing four months ago) the members of the la- boring community carrying ineir weekly sa to the Savings institutions, aud depositing them there, with full confidence that upon @ ‘rainy day,” when oall for it, thety mowey will be bonestiy restored. Yot those savings Danke—those inatitutions that Rave loaned money to our mechanics and builders, to be expended ie erec:ing rosi- dences for the men of small means—those Insitutions, from wbish money may be obtained upon morigage by the poor man, #0 that the life blood of the comma nity may be circulated freely, and made bene‘cial, bose ssyings banks bave go} changed |n thetr condition rom what they were Thetr securities still remsin good ; ibelr property bas not vanished ; the popviation that was then tn er oe wealth to the city by its labor, +i remains, ‘Why arould we, then, in » moment of excitement, wage & warfare upon all these elements of oar strength, to break them all down, anc, in the common rain, to break down ourselver? There is not, [ fel at sored, one working man {n ibis assemblage that would not give ore month's wager to have things restored to tho condition in which they were in Jaly or August last. Yet if we could Infuse into the marses ihe conviction that all the elements of their prosperity are still wilbin their Qrasp—that there has occurrea merely achange in ihe gus aod teens to which they have been accustomod—if ‘we could induce them to place themeelves for one month in the ame state of confidence and repore which we wit bested three months ago—our fears, our doabts, our didi culties would soon be dissipated; business woald reira to \w oreinary chanel, and every one would be again happy and contented, Now, can we not bring this aboul? I think we cap, I think the voice sent forth from this meet tpg today will aaiafy the mombors of our Logisiatare that, in times like these, we do vot wish to take the ‘pound of tiesh,”’ but that each man i¢ willing to bear his pertios of thr burthen, and contribute b's shere to the everal relief I\ is upon tae laboring population through. ut the State that the mischiefs and misfortunes of the pre seni crisis fali with most telling effect. Als dally Iabor fati- ing, bis mengre savings are socn expended, and then comes misery, anc with misery onmes Cisoare,and the speedy oon sequence ia, ibe transfer of a famtly from ite once cheerful bomefto the poor bonse Bat if wecocld again have re- Unnoe nyon ourselves, and pot bata single brasch o° the industrial energy of this commonwealth (the coal trade) opee mere into successful eperation, we shosld (+ six weeks bavo the tables of exchange, as rrgarts New York avd Howton, turned (p our favor: and notwithstanding the {aot that we bave beer comrelied to eucsamb un pressure of the timer, aud yield to suspension «f specie payments, every dollar of the currency of Pennsylvania would be redeemed in New York and Boston in solid coin —!f, perchanc> after the trouble throngh which they are Dow pasting, we abould be able to find it there. (Ap: pinaze ) Wishin the inst four weeks, our soni trade has, under the influense of this general distress, diutnished tometbing lke forty thousand tons per woek, making « difference in the rooeip's of this commen woalh in money, (apd ® large part of it bas bi herto come from tbe cities of New York and Boston) of something like one burdred and fifty thousand dollare That trade is now parylized, and ite Condition ia but a type ef toe paralysis which per rades each of ibe trades ich those who now bear me are aged the finenctal ooedition of ot rer cities, you aw how rimail @ porion of specie serves to keep up what in called & permanent specie paying system. Bat there has never existed in thowe cities boat kind of - cle paying system which wo have iu Phiadelonia. I venture to say that in the daily exchanges of lifo— im the purchase made ai the grooer's, the baker's, the bulcher’s—there are now more gold and silver coirs ia clrcviation ami people of Philadel than there are in the city of New ¥ (That's 90" and appiaa It you weret> the bar of tbe best botel in that city, « half oagie in pay- ment of a debt of two dollars, my word for It, you would reoetve in exchange three one dollar notes. Bul, my fel jow ciiizens, what is |! that ve want in the present ooo Janctere of affairs Not that there shal! be tp the comma y any disturbance tn the relations of deb ior and creditor. noe that the Legisiature cf Penneyivania shall eay that by the uve of one doliar I shall yay you a debt of two dollare, tha! they shall pormit those inetromente of ex: ich we have ured for years, with which we have brea eatvvfied, and which, upon all ordinary cooastons, and for ‘all orainary , are Convertible imto coin, to resume their place {n thie community—to be passed from hand, as they have heretofore bean, to settle the man lo man, and thar he ates of prosperity wil more opened: the difficulties under which we are now ving otnere {n @ common calamity, and aii will ade again Cheerful and Dappy Mr. concluded much arplanse Mr Srvaur then offered the following preambie and re solntions:— Whereas, wa, the representatives of the manofaetnri maroamiiie: etd indastrial Ir orewts of the sity ot Phi ade! phin, 1¥ of the Commonwealth. vow in seenion, that In the honest opinion of ‘hie meeting, ot rellet in required the representatives of the people for the benefit of the EO" Ie themaety on do most reapesttully invoke the Legisie which wileoable thy menulecturar vo keep bi: wi rhmen, wed the other branebes of business to re lelp in their emrioy the men and women whose bread is en tirely dependent oonm thelr daily tab °F Tha! ie relief ah raid be simple aed comorehen five” pot (# tered by provisions imposnible to he exerted in a nnd panic. but ack ae will restore eoafide x60 in Teney of ovr onople, and bring into ac ive and al eire lation the products of fields, mines and work 1d, That we implore the ' apie’ sy 1epMine Sich ram Twevtie (ation Ad to ‘howe sia) who hare to erchange moerehants, \rmiere and feviors, \t rome rerier be not prosiolly afforded by th prenent L,talduare Reroived, That t' ¢ proceedings ot ibis menting be published, ‘snd & copy seat to each member of the Lagialarnra. The revolutions wore adopted amid iond applanee Mr. STUART roe fo requesi that all tro#e coontitating the meeting would take the tronbie, afver the adjourament. to eiix thelr names to & memorial which woul! be found in the ball, asd which was to bo despa ched to Harrisburg, At an expresion of ihe sent! ments of the assembiags. The moetiag then e¢ oarned. | Ing manner ingmen and clerks in Dr. Bommxerery supported bis Teastution by ome perti- Dent rowarks, suggesting, a er a good ay & gol 71i of our present dificaliee would ‘befor the merchants to agree upon @ general extension of credit among themselves for a period of sixty days He the this would oo away with the present system of borro: from day to ', and atthe end of that period the far eraand cocntry merchants would have pai would be prepared to meet their obligations. He thought that {f the Philadelphia banks could agree to —— ‘3. Loulg merchants might agree to extend their cre Some confosion resulting at the close of the Doctor’s ceived, and the committee discharged. The question then came up on Dr. Boernstein’s resola- tions. Besolved, That we wili sccept ard pay ont Iinols currency at yar. ‘The question was then taken on the first resolution, which was defeated by » unanimous vote. The amendment, or rather the substitute of Gen. Ran- ney, was then put, and carried by loud and universal ac- clemation. ~ The second rerolution of Dr Boe netein, thorgh designed only for tho protection of the Inboring Ciaeses, met with vome propor bumor from some of the indecorous Jag. H. LUCAS & CO. We have received s communication from this house to the effect that in our remarks yesterday upon the suspen- sions, we were in error in staiing the controlling cause to be the embarrassment of the branch hovse in New York. We are informed by the communication that the New York branch is sound, and will meet pro aptly all demande and fulfil all eogegements; that {t has bad no dealings in Western d has incurred no losses by any fail- vres here or here. The cause of the sui is S camageaene son! Spates easton o and the very general non- pay! 7 their obligations due. MOPBTARY AFFAIRS IN 8T. LOUIS. oie ev fom the Bt. Louis Democrat, Oot. 3 | , ia evening closes an unprecedented day aad week in the history of & Louis. Never has she been so iried be- day, coupled with the stringency in money matters and the present troubles of the currency quesion, con- spired to render it a season of sore embarrassment, the like of which we bope may never return. Those who morning, by the an o pressure. Quite gloom was created, tb! Bouncement of the failure of the large sod important Bouse of Chouteau, Harrison & Valle The general con- Werpation was mush beightened in the afternoon by the closirg of the doors of E W. Clark & Brothers, bankers, of this city. In the latter caro, none of iis customers were more astonished and prosirated in focling than the bead of the bouse, Mr. Chase. The despatch in. forming him of the suspension of the firm in N | York came to his hands while he was im the fallost confidence in bis own resources, and entirely free from | ee ae Ce ee sae | of the city im ef the United States. tho former case the suspension was not fo unex, Dy the bouse itself nor by many of cur citizen: firm here, Choutesu, Harri- son & Valle, ever siace the burning of their ro! mill, been iaboring uader the heaviest responsi bilitics and rassments. Their expeases in tho Pilot Kao» Iron | Works, and their outlays apon the [ron Mountain Railrosd, with the means dx manded for the reconstruction ertheless, the probability is, that they would have sustained themselves bus for the failure of ?. Chouteas, Jr. & Co., in the Eaet. Thus {} will be seem that theee failares may not be attri. Duted to eaknoss of our 8) Louis houses, The causes cannot fairly bo iaid at our door; and in view of thir state of (bipgs ovr business men should nt permit themaclyes to give mach Importanoe to the surponaio! ‘The hose of Clark & Oo., in Bast, failed, as ls ro- ported, by reason of the great decline in some stocks in which they bad largely invested. The branch here ported card Orrice oF W, Crane & Bros, Bariens, Br. Lovis, Mo., Coober 3, 1887, ‘The present unexamp'ed monetary pressure has compelled oaf severai bouses to « Yemporary suspension of cash pay- mesns are very large and of » kind usnally equivalent to and convertible into money, apd we coufiden'ly look for @ “peedy satisfaction of all demands against us, and a resum)- Mon of onr basiness Collections maturirg, be to other parties, will bi banded to the Merchants’ Bank for secount of the’ owners iene \bey order otherwise. Depoattors will please hand i their booms to be writen tp, ama those overdrawn are re. jne#Wd [0 pRK® PAYMent AA ‘soon AK pomiole. We will be bird 10 ‘ake some more definite netion when advised of ition «(our Rastern houses. and in the meantime ‘vk tbe forbearance of our friends assuring them our creditors aball be equally provided for. KW. CLARK & BROS, ‘This bourne ts largely interested in several of the [ilinols n will Grayville Bapk \s ono of The house bere publish a card in another column, by hich ib will bescen thai the suspension in Now York ¥I!l not affect the hours of E, W. Glark & Oo., in Philadel: a | The failure of P. Choutean, Jr., & Oo. in Now York is at- | tributed cbie!ly to thetr connection with the Illinois Central Ralirosd, which, thoogd one of the safest ultimate invest- | ments in'the *bole country, bas recently, by reason of the great deoreetation ‘tocks, been compelled to call for an instalment of 10 per cent upon its whole capital, The demand upon such a beavy stockholder as the house of &. Choutesa, Jr. & Oo.. was very groa\ and embar- rearing. We learn also tbat their iron works in Pennsy!l- yania bave contributed to the disester. The suspension bere Involves & soppsge of the works at the Iron Moun- tain, at the Iactede rolting mill, and at the conl banks, by which $00 or 000 opersives are thrown out of employ- ment. The bank statement for the week closing today is as follows — Coin on band, ses WAT8R 14 644,667 68 Meoraoic’ Puck — 87,047 94 102,463 88 88/800 00 78,300 00 188,500 00 113,890 00 168,226 60 161,804 63 /xebapge on hand il 68 56 116,623 61 Ct culation... 807,050 00 262.165 00 Tho total ahowl«g of the above state mente is as foll vwa:— Decrease of exchange maturi: ° $134,362 71 Deorense of cireniation...., + 128,886 00 Increage of coin on band... : 13,479 61 Tt will be ween thas the increase of coin was reo rvered by tre Meebanice’ Babk, tho State Bank having fallen off more than $10,000. LOUISIANA. AFOTHER BEATY Bi KOOWN IN COTTON ARD STER- LIN@ IN NEW ORLEANS, New Oxiaane, Oot. 8, 1967, ‘The excossive stringency of the money market hae cnneed a further heavy decline in cotton, and the redac ion from the bighest point attained is now three and a quarter cente per pound. The sales during the past three dayeare put down at 6,000 baler, inciuding.lote of mid. Cling at 180. por Ib. the range, however, for this grade {a 180, & 18'c6. The reosipte continne to pour in rapidly, Ane the indications are teat lower Aguros will yet have be submitted to All branches of business are more lees affected by the pressore, but the merchants are using thelr utmost endeavors to brave the storm. Sterling Dilis have will further declined, and sales are reported of bankers’ bills at 07—or three per cent dis- orumt y \8 more in demand, and rates arc dally harden. in Frevente aro dull, but nominally <4. to Liverpool, IOWA. PALM ALARM IN THE wast. [From the Davenport, lows, Garette Extra, Oot. 6 | We deam We finaccial news below important enough to ive our rondors in bais form, aa it was received after MASSACHUSETS. THE BOSTON BANKS. ‘The Hon. NatBan Appleton has published the following ly to the letter of Jobn A. Stevens, » President of 123 Bank of Commerce, New York, which cppeared in the dixcignedsaa Boston, Oct, 5, 1867. My Drax Sr:—I have yours of the 9d, and am glad to me, and Lad be vebed ex. ‘te discounts. Lop apna course ‘not been adopted by the Danks, as the last of- pein te gh So ele digo Dewy old re- duction instead of expansion in Joans. And Inat reports do not show alleviation in the stringency of ihe money markeh bag ou will use your in{iaence for an lato and very coubtarabie ‘expansion, so impor- tant as I consider tt for tha interests of New York and the whole country. Le eee a Perniciow system of Iepg crediw, Nccnmmebensceemeatemsieie of long credits, but | recollect very well, as I was then in ‘Active business, that it was im consequence of eight months being the estab! credit given by the New York im. Porters, that we were ob! to submit to the same ur manufactures. I am not aware that the credi now iven in New York are shorter than those given in Bos. 44 good deal of improvement hes been going oa here yants for & thin the last fow yours b deco’ within the Yours by offering large [ hardy recollect the benk bas pot been abie to discount some new paper. What I cail a really pornicious system is that of Joars on call, which seems to proval! extons! pe is adopted bank witb your large capital would Gnd it diffisait, \n ordt- nary times, to find business paper enough at to meet their wants, and might frequently dnd !\ necersary to take acromm watlom paper with long paper, perhaps, as the published tables, T see that lessened thelr linblilttes from 101,000,000, august 15, to $1,000,000, September #4, cer tainly & most violent preceeding. The Boston banks re- jes from 23,000,000, August 17, to 19,000,- ‘oportion. Our me obliged to foifow the course of New York, but aro in perfecily easy position. It is their customers, the merchants, who feel ihe pressure. Very troly, your doced their |iabi. _ 000, September 28, someting leew in banks obedient rervant, NACHAN APPLE(ON. By the way, I #0 the stock of your bank quoted tremendovn di ‘any thing but the severity of the money decided retaxa'ion, J. A. Srevans, Eq CANADA. THE FINANCIAL CRISIS IN (HN UNITED STATES, (From tbe Toronto Colonist, Oct. 7 | ‘Some of our contemporaries bave beon disposed to view, with affected unconcern, financial difficulties of the The same journal—and |t anquestionally speaks the tenth in this particular instance—farther adds—At the close yosterd den decline, no one anticipated euch a serious and sud 4 no cne knows but that ® similar move ment may be realized to morrow. The sellers are those ‘who, from actual nece sity, are compelitd to realize atany. price. The sacrifices are made, Bot so much by those lation as by those who who are afraid of further depres! ‘want money and are disposed to sell anything they pos sees to meet the ir current payments. This shows what ma (terial our oommuntty is of, and its such material that bas made this city the metropoiis of the Union. It is fearful to think of the consequences of such #e!f sacrifices, and ft ls terrible to contemplate the roguit of such a deter mination on the of business men. After all, it is Detter to ¢o this to succumb to the first reverso— then to sit quietly and patientiy down and see the wreck going «mn about us, y making the fret way ont, if there are any such, such snori(loes are cheer. fully made, but those whe are. dooply involved, ea to bo only geting deeper and deeper iculties. do wrong to ttbmost thelr remaining #ubstance without the proba- Dility of ultimate sucoees.’” ‘This is simply ringing the death Enel! of ail stocks |o New York; an wheat is considered. that fal twenty ‘million pounds, or eighty million dollars, aro ea! from the means of living of the sharoholders in d\{forent jolt stock com panics, the suffer and losses of many Unougands may be c:poetved, and they, being the bankers: ‘and bank capitalists to @ large extent in the Usion, must inevitably greatly Ce they do not bring aw the obief banking houses low York and elsewhere. far, we understand, tho chief inconvenicnoe to our banks in Canada bas arisen from from their pursuing a narrow aed seifivh policy towards each other. ‘They have rushed into each other’s vaults for epecte for tutional poliey 9 eaoh asting for iaeif, ad pot oariog. for national sting for 0 the stabi fe the oreat ot is neighbor. This is festiy a ruinous covree, and we believe the Board of Trade have eo viewed |, and nave taken moasuros to establish & more rational courte o! proceeding. In Oanada we want money jurt now to buy grain. jay fy got ont Sumber. We want money, likewise, to do dipary basiness of improvement: for our it ie al poriant that ard ought not to be impedea; and hed ovr chartered bants should stand by esc) other and afford the pubilo all the aecommodation they possibly can. And we sincerely trot that, whilst stooke are becoming worth leas in New York and clsewhere, Canada qill maintain her credit and preserve her stocks and her enterprises from becoming ® mere myth in the money market the BANK OF ENGLAND. ‘The return from the Baok of Kogiand for the week end- Ing the 19:h of September gives the following rewulta when compared with the ‘lous week — Publis depoatts rte 046 000 —Incrome. . £386,621 Rest... . 6+ see ‘ On the other side of the account:— Government sccurition . £10,593 ,608—The same ae before. Other seourities.... 18,9€7 081—loeronse. . $207 999 Notes unemployed. . 6,108 720—Decresse.. 86,646 ‘The amount of notes in circulation ie £15,001,215, being estate of Charles Petorius, their alleged husband, who was lost on board the Central America, The counsel for widow No. 2 called Elizabeth Fuller, who said—I live in J ery ly kno » how longnhey lived by Charles; 1 saw Charles when he nia last summer; be did not tell me he was married again, ‘but said he was going to eee Margaret and his child; the Cross examined—I was in 7, road station, canal and river, $2,9.0; good stone da, bows ir ‘he wood ont wil o aod saw Charles Charles frequent! The onse was ten adjourned for one week. Exransivs Swipis mm Purxam Covyry—Svco- Putnam Thomas H. Reed, let him meated ti return, whither be was back Brew: dollars ‘or each ofience proved agalnat them.—Batavia A. Nsw Yorx Post Orrics Accounts —The entire accounts (iast quarter's) of the Now Yors city Post Ollice bance of the examiners in toe geaeral Pos OF- tn this olty on Saturday, 3d inst. Such a thing never before ocsurred, and is really raahington ® remarkavie business sobie vement.— We Od. 5, ly in New Coloned Icuanon B. Cranm, Ist Ariiliery, dled at Port Richmond, Staten Island, New York, the Sth lastant, of Paralysis. ADVERTISEMENTS RENEWED EVERY REWARDS, —‘O8T, LAST BVBRING, IN OWE OF 3 old aceoun: jongit ‘8 boos seller useful to none bul the owner. ‘ward and thankr of ihe owner wili be given b the book stand, corner of Frankfort REWARD,.-LOST, OM MONDAY EVENING. the Hudson River Railroad utton, very large, with’ fano, will receive the above reward by anmeat No. 8 Oortlant sireet, J. G. BUDMUL, ing ‘Morin William sire ot. depot, Chambers street, s a lepreciation, What ie the canse? Is thore pressure? I trust not, but nothing cen show mcre strongly the necessity of a REWARD —108t, OM FHURSD in Broadway. The fine: the thanks of the 0: ing the same at Mo 126 Kast Seventeenth street. REWARD.—STRAYED, A LARGE BLACK NEW. foundland ‘and address dog. name collar. The finder will be Uberally rewarded by him to #7 avenue O. RBWARD.—1O8T, f DOUBLE Case $0,012. with a ne weboy ea- . 's procession on # y night, October 7, 1887, in the neighborhood of Grand, Broome or Kim streets, near Broad way. Whoever will leave the samo with John Simin, 117 Mulberry street, will ____ 1OP AND FOUND, BF OWNER WANTED—PFO! toh vies Bs gold vest ee opporive 46 A GOLD FRENCH . and t wee IVER AND WHITE MOTTLED Por A rulable reward will ter; bad cn a ieaiher colar paid by returning him to No. 66 Grand IN BROADWAY, BATWESN CANAL Mo 8.687. whieh the LOT ain BROADWAY, NEAR HOUSTON STREET. On Thursday afiernoon, & pair of eyegiames with a black cord attached. The (Inder will be suitably rewarded by re turning them to 27 Rows street. O8T—A BANK BOOK, M92 Baxier atreat, O8T—ON THURSDAY APTER NOOR. OTH ImeT.. INA cr three rings, one ® weal ring with the letter a meeesipt. for boara ty leaving ihe same al No, 199 Bast Tenth streot, will rewarded. O8T—ON WEDNESDAY BVENIFG, WHILE street through | Hevenih to from th ‘nee to Twenty third stress go'd yy, rewarded aad the thanks of the owner by leaving It at 150 Wont OBT—ON THE 77H OR 8TH INGT., TW: L ° drama, by Sam: Beal Tho yeder wil face send them fo J. F. Wallace, ‘Broad iment has been stopped. 2 O8T—OOTOBER 7, 1 imson ler will be suitabis to EB. COOK, 289 Greenwion D UP-SUPPOSED TO BE STOLE owner can have the same Property and paying charges. TOLEN OR STRA ‘About 7 o'clock, f . Opposite ‘A moose Seer, oF American clk. “Any pergon restoring We same to ite Owner will be handsomely . BST WEEN SOUTH y doline billon Nessa Bank returnit lary YED- ON MONDAY BVEMING 1. A8T, | nances; Dent three large tory: jn been ured about three or four months, Als: % the ¥ fan be selected from s large wioek Taqire at $48 Biseouor + 9'002,624—Decroaee.. 177 663 4,056—Inoresse.. 11,494 r ALM ALR—JONM® ONRIVALLED INDIA. P Rinck ‘ale. with to breed fail colle of thie celebrated vod at the offoe of tne Brow frand fo season ork, for & short Union Course, Long island. “zs. FOR 84 LE—%0 IW DIFFERENT DIREOT! one #98 ‘im Sullivan county, H. ¥ , eee a t place for mills; ne — si hag aes land, oo ower countr: sra:s village Property. 2 s ANDER SILT, 81 Fulton street, agent and ‘nuctlonoer. R SALB—A FIBST RATE FARM, IN MEROER conniy, Obl, near canal and reloads, er will be em — Tn Oph. Ga YOR, 16 Nessun throat ‘OR SALB-TER CONVENIBAT THRES STORE Bouse and lot Bo. 47 Bast Thirty-Orst tween Fourth ani Madison avenues; has ant tbroughont the house; in gond order; will be sold low: easy. Can be sean any Ume through ike day. Inquireon premises. PS SALB—AT $160 A PIBOB. $2) PAYABL! three months. few more lots. ‘within 45 minutes’ ride from the Ott beaatiful Hall by which run every fifieen wipul ‘due perter owner, 929 Broad of street, room 45; rts a A fi i ih; I i § i i i ile OR SALB-IF APPLIED FOR 800M, A Gi fruitand farm, 7 acres, 36 miles up the Hudson. 2}e0. for aale, « splenaid store. pr yperty, No, 411 Minth a Bouse three sory; Croton, gaa, Avply to the owner, 286 Bintb avenue, near Twenty seventh street. i H (OR SALE—OR EXOBANGE FOR CITY PROPERTY Or mei chanciee adapted to she Southe’n or Western mar kete—Apvout 1 300 acres of choice coal and timber lands ta aly: Oreet to Lockha' or of the ‘Buabiry and iris road, now {9 coures of eam- Thia land for the above pirposes cannot be wer otfers inducements. Por far. of JOHN L, VARDSWATRE, 168 ‘OR SALE—A FINE THREE STO) USE, BROW™ RY HO! b stone front, in perfect order, with all the modern \- nituated very ples: ly in Twenty-ninte meer Pabhameet cerjcereees” Bk sa roe a SALE OR EXCHANGE TIRAT CLASS BUGIWEOS roperty. pow ren" ag anvum, lorated in one the"'most’ flonrishing Western eitiesproperty in. Now of moat ng Yok mer J Oly will be taken. reat $20 a reliable. "Chas. R. MILAM, 1é Pine stron OB SAB OR TO LET—ONB FOUR STORY Bi Sione house, with high basement. situate on place posite Kiuyvesant square This house ibe moders improvements; Keys will be found at 133 Seventeenth street Alao one three sory brick Rouse, At No. 9 Poplar street Brooklyn, which on examination be found a very comfortable one. Terms moderate, For fur- Pearl sireet, fromb r particulars apely at 21 office, siairs, where the keys can be bad: ~ OB FALE OR TO LET TSK TPRBE STORY HOUSE ‘and lot 528 Houston street: bas ail the modern uel cu mortgage, 87 apply Oo bIRAM MERRITT, 49 Third avenue, before 9 and after Soclock. Posseasaion immediate\y. seven coucties. Terms easy. appiy at Toird avenue and Seventy.seennd strert. . Cal Also, lota on the north i ts of Seventy-seoond a! Third and Foar:h avenues, for aale or exctange for cl y property. A han taome house and stable oa aireet for to let. apply aa above JOR SALB, OR TO LET OHBAP SEVERAL WRAT Cottage houses near Suabwisk Cross Boa’s Kas: Brook: within baif an hours rice of Mew York city, and stages ihe door every fom minaies Some of thee! houses are ‘with fine gardens, tree, grape yen, ke Apply io J. Gulick, at No. T ‘Now York rity, from'l’ tod 0 clock A MC epi oon atFrouy condeatiai, TSOONSIN LAND IN BXCHAFSS FOR of merchandise. Yhe iad is Soon an perfect &. JOY HOO! ANTEO 70 PURCHASB—A SMALL ow) ih cortege, on wD. varying from $800'and upwards, the city, and mort favorable G48 & SOUTH WACK, 84 Maasan eves. YOO. —THIS SUM WILL PURCHASE ONS HAL? + interest in an established cash bosiaess that ie sure of yielding each pi ‘at leas! $3.000 per anmam: it ie and p cenant, ena! ‘and Attended with ever. Apply to Wi O0., 34 Broadway, office 18, AT BARGAIN.—ESTIRE STOOK Of an old esta sli shed indies’ phe is mm the city This stook will be SPLENDID STARD FUR A LAGER BBR SALOON im the beet city ug hfare; iesge of house, (ware Plotaatly fusaisbed. wite var, s voll lard tapes ano, Witte. Hy Broadway, office 6. N AMDROTIPR ARD DAGUBAREAN G: ir A Nocesie iow, up onip one fi eee ine gece le: on! cation for business. A fire lot areca frames and specimen pictures, and a whole 9 Noieuenter camera included. inquire of samLY' & ARBANATI, 426 ay. Broaaw He ait i i to engn: Coa!, Lirraid «(fee (OR SALE-THE WELL KROWN PUBLIC the barrcom, fixtures and sri BGS art Rhea te beat we, 4moPm. r NIN@ BALOON, LOCATED IN ONB FoR SAE Auainres ihoroushtarse in the oly, and dning & good business, Will be sold cheap for would em. Change for western Innda, Address 0. W. sbreadwar RE R BALB-AN OYSTER AND DRIPKING RALOON — ‘Poaltty will and shall sell this week. or forfen fo CRY lr mone’ wishing. t0 bie e fortune, tore am vunt of mover inquire at 160 Broadway, of KAUP aGARDI HALE—ONE OF THS BERT PUBLIO HO) ee te ee a Rew nizeat. in the enloon. in i OR BALE LOW-—A GOOD CHANCE TO MAKE money. only $110 required the coiTeg Ard ealtng salon in the oy oY ina om the pre R SAL OR BXCHANGE, FOR WANT OF BGey gots. one. of ation porabie hat ale far: LLTON JUPIVER, (RY LONG IsLA iter ous 1, Saeko a near