Literary cadet and Rhode-Island statesman. [volume] (Providence, R.I.) 1827-1829, 1828-05-31
[BY TIE STEAM BOAT.l


The Steam boat Washington, Captain Com
STOCK, arrived yesterday in II hours from
New-York. with l2O passengers, among whom
we noticed our Senator, Mr.. KNIGHT, and
number of members Of Congress from the
Northern States.
From the Commercial n pertiser.
I" Franklin Bank. The Directors of this
Bank last night resolved TO suspend payment
for the present. The Chancellor this morning
stated from the bench, that he had allowed an
injunction against the institution, on the appli-
cation Of the President and one Of the Direc-
tors. We understand that there is but small
amount of bills IN circulation
p s. Since the foregoing was written. we
have seen and examined the petition of the
President of the Bank for this Injunction. In
this paper it is set forth that the embarrass-
ments Of the banks commenced in 1926
that large debts are due from the bank, and to
tho bank-but not enough of the latter to meet
| its engagcmen,s--that The president is stock
| holder and large creditor of the bank--that
| that the bank could not yesterday meet the
| RATS from the other banks and that believ-
| ing there would be run upon the bank to day
for specie, which they could not pay,-and tha,
| as they could not longer continue banking OPP
| erations, he has resigned his Office as Presi-
| dent and Director Of the Institution, and he
therefore prays for an injunction under the act
ofls25. The petition concludes as follows:
| "Your petitioner further shows, that a meet
| ing of the Directors was last night held, at
which, after full examination of the funds
and resources of the said bank, it was deter
mined and ascertained that the bank would be
unable to meet the claims that would be pre-
sented during the day, and that they would be
obliged 10 suspend payment. And the petit
ioner further shows that ho has great reason
! to believe that the bank is insolvent"
In consequence of this petition, the Chancel-
lor has ordered that on Saturday next the
| Bank shall show cause why an Injunction
should not issue, and receiver be appoint
ed; and in tho mean time temporary mi juno
tion is granted on the prayer ofthe petition.
II quarter past one.-We have just re-
ceved the following note from the Cashier:
FRANKLIN BANK, 2ah May, 1929.
To the Editors 9ftse conaneroid ddretiser.
Gencmcn--lIis honour the Chancellor having granted an
Injunction r,sainng The President Directors and Company
ofihe Franklin ank aud il ccers from paying out transfer
rinr or otherwise dposnr Of the funds property or money Of
said bank and for other purposes, under the necessity
of suspendng the operation, Of the Bauk Immediately.
The injunction served upon me at very unexpected
moment sometime after the opening OF the bank.
The public respectfully requested To suspend heir opn
until further proceedings had which it j, presume,
|
am, ,e,y truly, your ob.dient servant.
! JOHN H. HILL, Cashier
FIRES. Our city was again fred in four dif
ferent places yesterday, after this paper went
to press. At a quarter past four o'clock ir
E the afternoon, flames were discovered issuing
from tho upper story Of Mr.. Leonard Kip,
brick stable, in Churcb-street, one door from
Fulton street Owing to the prompt assistance
ofthe iremen, not much damage was sustained
Mr.. KS carriage had left the building abou
n quarter Of an hour previous; and as no fire
had been ever allowed 10 be used about tn,
building the mischiefc can be imputed to nothing
but design. Immediately after the above, st
Paul's vestry- room. on the opposite corner o.
Fulton and Church-streeis, was discovered Il
have been fred. The Gazette says there wal
: 10 have been a mooting Of the vostry at fv,
O'Clock A person went TO Mr.. McFarlan fol
the key Of the vestry-room, on opening which
bundle Of papers were discovered 10 be OF
fire, which had communicated 10 the baizt
covering the floor. On examination IL wal
; found that a panc OF glass had boen broker
and the back door opened, through which th,
inccndiary had, no doubt, entered, and afte
placing his train, retired The timely assist
ance afforded, prevented any further injury
Another attempt was mado in Frank klin-sircet
during tho course Of the afternoon. A carpcn
tors shop between Church and Chspel-stroet