Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-11-01

Constituting totcl .deposite of 81 ,645 900
"Of these stocks, !ndian is quite good IL not better
than the Others that stock sold within few days
80 cents the dullar II is therefore evident that The
security though good fails at the moment when il is
wanted in state Of ease aud confidence in the market
when the security will bring full price, is not wanted;
but is al time like this when the bills of the banks
thus secured selling oil discount Of per cent,
thereby tempting spectators to run the banks, that
lhr security IS most wanted Should The new banks
be forced To suspend, and the whole OF the above
AMOUNT of 81 Gas 0U0 be thrown upon the market, the
BIT huidets will realize 10 cents the dollar The
stocks of The new banks compared with the old in
suons are comparatively worthless from the TACT that
their dealings are securities which al present in.
convertible These considerations blasting the pub
lie favor of the old sysem--and with the arrival OF
hv us xl packet from England explosion will proba
by lake place among certain OF The new banks IN this
STATE which may PROSTATE the system entirely and
The old banks OF the city OF New York will form nu
claus around which will rally the solvent merchants and
halhy business while the specializing bankrupt obbers,
and insoren,s OF all kinds will perish under
he runsef that mighty system OF Unlimited credit they
have neiped 10 creatP
The Lancaster (Ohio) Eagle Of The Goth says "Thus
fer the Cincinnati Banks except the Commercially the
X-ra Hamilton. Dayton and Urhcna are The only Ohio
banks known u have suspended. The GAINESVILLE Ga.
zl,r OF "wednesday last says that the Granville Society
has also suspended. The Bank of this place Qhe Co.
umbus aud GAINESVILLE Banks have, !, IS understood,
decided 10 continue specie payments
The heelng Times says II has no doubt from pre-
appearances that Rnst of the banks N Ohio will
wind up heir affairs. They had much better do il than
attempt enba raised and restricted they 10 con-
lnu- business
he Columbus Statesman oil the 25th. gives eebo.
rate Table furnished by the Auditor Of the State, Of The
present condition of the thirty flee Banks Of Ohio, from
which tapppars that their capital stock amounsio SiO,
522 27-ihrir circulation 263 454-iheir deposte
money, cd i4S-whch, with 'he monies due to other
backs and other liabilities. amount in the whole to 23,-
go 426-And On The 1'her side ct the account, heIr
notes discounted amount, I25; sPs0e2 55o1;
notes OF other hanks 93OS65 due FROM her banks 9Gb,
lgV mh'r resources 7e2l csc; amounting in the whole
10 S23 nS5 426
The Indiana Banks it s sold by come, continue 10 pay
spcls.- Bur thu Chicoibe Gazette OF the 24lh says,
hai they hnre suspended.
The Northern Bank Of Kentucky, at Lexington, has
Suspended
1EsNFssEE BANKS 1.-THE news Of the suspension
eastward reached haSottte on The evening OF the lHh
inst The same evsning, consultation was had among
hr bank officers of that city but nothing definite was
concluded on Next morning. the Bank OF Tennessee
made aspecie draft Of 100000 on the Union, and The
Planters Banks-the consequence was an mmpoiase
suspension by The two last named. The Bank Of Ten.
nsssee sl held out paying specie on the 10Th inst as
we learn from the Nashville Wing Of that date, being
unwilling to teke the responsibility of suspendlng while
the Stale Legislature is present. 10 session, TO direct lis
movements -
The Nashville Banner of the 10Th informs Us, that
the Union and Planters Bank suspended on the 18Th,
and ha, The afternoon the Speaker of the II OF T.
ac before the House the following communication from
The Psesiden, of the Bank Of Tennessee:
"BAsx or TENNESSEE, Oct 18, 1889.
10 HE General assembly IF The State OF Tennessee:
"Gtntlemen-By last evenings mail we are IN re-
capt Of information that the Banks of Philadelphia,
Baltimore and Cincinnati, have suspended the payment
Of specie, and probably the New York and Kentucky
Banks also
This morning the Union and Planters Banks have
also suspe nded The balance due this institution from
he Banks is very Considerable and they have refused
ihe payment Of The same.
l have the honor to be,
Yours very respectfully,
NlCHOL, President
This communication was addressed to both Houses
and was referred 10 The committee on Banks. The DE.
bate in the Senate quite animated. MIR foakum
introduced resolution. providing taa not~ihslsnohe
the suspension Of specie payments by the other banks
the bank of Tennessee and branches will still continue
10 pay its debts as the public faith and common honesty
require The immediate adoption OF this resolution
was pressed with much zeal by Mr. Yoakum and GiIes-
pie and opposed at considerable length oy Messfs.
Laughn others advocated its reference 10 the
S"mmit,ee on Banks which was ultimately carried -
he object avowed by most of The speakers was 10 hX
.ne "sp"nsbllity OF suepending on Inc bank-a sh
events 10 give no advice make pledge on the SUD
lect until the condition Of The Bank and it's ability TO
continue specie payments officially made known 10
"e Legislature. The committee on Banks, II is thought,
WV rep"r, to-day 1--WE nave not heard the resut)
The Commercial Bank of Columbia Is G. has acted
20 Ter in exemplary manner. Notwithstanding the
DaSSs 10 Columbia urged By meeting OF the citi'
~, virtually 10 suspend specie payments III mas de
ING 10 suspend, but taken measures 10 afford ell ne
sry pecunary relief, especially towards the purchase
., cotton This (says the g. Caroiinian) is another
Sing evidence. only Of the soundness OF this ex
nm NJ institution. but OF the general good sense, com
pths're views, and sound banking principles, which
En- hs affairs now, heretofore. A little time VIII
u" of lis pulley the present instance
Tar It's sake, but that Of the business OF the
raIe aIso-especslly it, as daily more and more
F'''s'sf, the New York Banks do not suspcnd, which