Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1839-10-25

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fsIcilanend, Va, Friday, Oct. e5.
SUspE ySIONS-aad ST3TU QU0 # BANKS
STOCKS sc.
Tho Boston Advertiser of the 10Th states, that all
apprehension is now in great measure Iemovpd and
a general conviction pfIals That lhs&Rnks OF Boston,
and ID .hase IN immediate &SSitsc,iqh hem, having
been conducted during The late sus'
pension and especially since k resumption oil specie
payments upon principle OF cauhon aho OF moderate
extensions in sound condition ana as sale as al
any ordinary period. We understand thai The slight
contraction which was ct first deemed pfudeat, ny Inc
conductors Of most of The banks has been relaxed and
that within The last two days discounts have been made
to considerable extent that the pressure upon The
money MAJ ket is in considerable degree relieved. IL
is be inferred however, that money 49, or IS soon
likely TO be plenty, such condition OF things here
in the present state OF the balance OF trade between this
country anu Europe, would be entirely inconsistent win
The safety of specie paying banks
The Boston Atlas OF Monday last states that "sno'her
week Of very pressure in the money ket has
closed and the mercantile community have sustained
themselves under il with The most wonderful prompt
ness All their engagements have been met at great
sacrifices and bu, few aiure have occurred The rates
Of prime business paper IN Boston nave oeeh l"o per
per month 4a6 months and large amount mas Deen
offered The timely aid rendered by the Banks al The
close of The week, relieved IN some measure me press
ing wants of the merchants and though this day was
of great severity yet The week closed with better
feeling Than began The sales by auction OF Stocks at
Boston particularly Bank Stock show great falling OFT
prices though the Banks were never 10 better con
dun than al this moment, and there appears to De
general disposition manifested by most OF them, TO DO
what is prudent n the present crisis
The Banks of New York still stand fast, though the
commercial community is sorely distressed. The ~ \
L. Post Of Tuesday states that "socks gave way, and
a strong disposition prevailed TO sell U. 5. Bank was
IN demand to ill contracts; but freely offered al two
pes cent, under the cash price payable in 80 days De
las are and fiudeon fell l3 per cent, North American
Trust IA Mechanics Barking Association 5 Boston
and Providence Railroad 9, Harlem l.2 Farmers
frus, sold as ow So Exchange on PhIadeipha, has
improved per aud il is UNDERSTOOD that The Banks
there drawing inland the resort TO suspension Tor
relief The Merchants, will be found 10 be more fatal
than the rigid and only honest course pursued here.
The ~ York Times Of Tuesday snys, the pressure for
money still continues TO be very gea,-notw hstandng
there but few failures
The New York Dispatch OF the same morning states,
that Exchange England fell of TO 34 per cent
md some pretty heavy operations made yesterday
II may be quoted at 9 10 10 = Domestic exchanges
remain abou, the Philadelphia notes sold at II
pei cen, discount Two pretty heavy lots OF Hour were
sold al So 90 for expectation. The amount OF specie
taken BY The Liverpool is sariously stated from
$500 GEO $500 600 More less appears 10 be con-
coded that only about 100000 went from this city
$50 coo shipped by The Girard Bank oIPhlladePha
Tie bills of of the country tanks have ceased 10 be
redeemed in Wall street oil the banks and The reason
assigned thing deogaoFy 10 The soIVency OF
the country institutions butts slated 10 be the nconven
of making such large advances by The cry TANKS
The bills OF The following banks being no longer re-
dersable BY the State Bank they will be redeemab'e IN
Wall street a, per cent Commercial Bank Of Oswego,
Bank of Oswego, Chemung Canal Bank, Essex County
Bank, Bank Of Lyons, Bank OF llhica Madison County
u,,I, 4 cknita Harhnr Rnn Bank
hiehalI. Yates County Bank The notes OF The iui'
lowing banks ale redeemed The North American Trust
| Company a, par: Commercial Bank, Troy; Orange
/ Bank ~ J lives and over Farmers Bank, Hudson;
Farmers and Drovers' Bank, al Somers.-The ioowng
are redeemed al per cent Merchants and Farmers
| Bank. a, ithca Delaware Bank, al DeIh; Bank OF Sy
racuse. al Syracuse; Genesee County Bank, Nc. &c
The L S Bank stock opened on Monday at The first
board al 73 and left off at TO- half per cent advance
on last sales AT the second board there was TO Change
fran. The AH"setRe 9oaraa says, ."Usy
very close but the Banks are doing every thing they
can 10 relieve The community, connected ih pu
dence and The probability OF speedy resumption, IN The
The Of The banks in the great cities should
4 renter il necessary
All the Banks u! Cincinnati, except The Commercial
Bank suspended specie payments the 18th instant
for irty days Of they 20 beyond thirty days, the law
directs that their effects be sequesered by The three
Commissioners Of Banks, and the institutions thus
wound up. We agree with the Baltimore Chronicle
.lhat the suspen son must lead 10 the winding up
of many Of the Banks" The Cincinnati Gazette
! (Whig) throws out The following suggestion about
some ol The Ohio Banks" Most OF the charters
expire in lc43 There is no reasonable ground OF
hope that they can be renewed OF safety tor
them 10 accept Indeed, the prospect dnk one, that
they can tie renewed al ALL The safest policy Tor them
is strike once, for FINAL close Of their business
This may be made easier and safer Tor all than laing
into the power of their enemies under the law OF last
session Let time be given 10 the Debtors upon Toll Sc
cuy, with interest; and let these contracts be trans.
ferred The Banks creditors and stockholders in qul
dalton Of their claims ! make the suggestion as one
deserving consideration
The Bank OF Evansville and The Putnam Back, at
ZanesvIlle Ohio continued TO redeem their notes IN
coin The Dayton Bank suspended they
heard OF The course taken by the Cincinnati institutions
The Banks in Columbus Ohio, still held out at the last
accounts Iii said that one Of them the franklin Bank,
has addressed circular to the stockholders on the SUBJ
ject Of winding up It's concerns
The Northumberland Bank Of Pennsy lvnnia suspended
The l7h in consequence Of The suspensions in Pha
delphia and Batimore-but to chow their confidence in
It's stability, OF lis Directors came forward, ns they did
in 1887, and pledged their individual responsibility thai
all its issues shall ultimately te made good"
The Wheeling Gazette Of Friday says "lhut the banks
in Wheeling had not al that date, determined upon their
course in regard to suspension non-suspenson The
Wheeling banks are fully able 10 redeem every note in
circulation but The interest of the community demands
suspension their part THE same paper says, that
IA large amcunt Of specie arrived at hat place The pre-.
cedng day, on its way 10 The East
-qnsucrs Of the PHILADELPHIA Banks.
The Letter OF Messrs Barton and Brooke, the Depu
lies of The Attorney General, TO the Banks Of PhIla
del pha, warning them against fraudulent issue Of
small notes has received due notice from those In
sttutions Replies have been Published from The Cu
shiers Of The Farmers and Mechanics Bank, HE West
ern Bank OF Philadelphia, the Bank Of Penn Township,
the Schuylk Bank, Bank Of North America, Moya.
mensing Bank, Southwark Bank, Mechanics Bank,
Bank Of The Northern liberties the Grard, the Com
merciaI, and Southwark Banks; the Bank Of Pennsyl.
rania, md the President of the United States Bank
Some Of them say at that they have no, issued any
notes under So and all of them pledge themselves TO
observe the law and 10 make such issues hereafter
The following is the reply from the Mammoth Bank
which exceeds in lis length any Of the others:
"TaE U. S BASK, Oct. l9,h 1889.
ITO George " Barton and G. " allace Brooke, Esqs