Baton-Rouge gazette. [volume] (Baton-Rouge, La.) 1819-1856, 1847-06-05

BANE FAfEuRE Ar MEmpHrs.-The
farmers and Mechanics Bank Of Mem.
pits has unexpectedly suspended payments
to the great loss and Inconvenience of the
community, The following extracts from
Memphis Eagle Of the Goth ultimo, give
the latest information on the subject:
Our country readers we know are anx-
iously looking tosus for information regard.
ing the disaster of suspension which has
recently befallen this institution, and more
| especially for information respecting its
condition and prospects, leading to a re.
sumption Of payments; and we regret that
il il not in our power to give them the in
| formation they seek.
Nothing has t%ranspired since Monday
morning, when the suspension occurred, OF
either an official or very reliable character
developing any thing IN relation TO its &C.
tual condition of purposes; while public
confidence, we regret to state, is becoming
less sanguine in relation 10 its solvent n
dition. There are many umors rurrent
in the streets calculated to produce this
state ofthings, and in relation to whichthe
Bank should forthwith correctly inform the
community. We allude to the rumor Of a
large amount ofmoney having been drawn
from the Bank by Or. Jeptha Fowlkes, or
for his benefit. by bills OF excharge drawn
upon Cross, Council 81 Co, of New Or
leans, (~reputed to be an unsafe concern,
and really Of no certain identity amoun-
ting to at least 100000, and some reports
say a much larger sum.
This reports n1rJner stats that several
others of the Directory have obtained large
amounts, from ten 10 twenty and thirty
thousand dollars each, on bills which are
now due the Bank. His incumbent upon
the Bank to speak out the truth, and the
whole truth. In relation to these reports:
and If it has any regard for its own safety,
1t will do SO Immediately; for until 1t does
speak out, public confidence in rela-
ton to il will sink deeper and deeper a.
gainst II. II is further urged that of the
S1,400,000 assets against it say 100000
ofliabilities (which is the reported state.
ment) a Uery large amount Of its assets are
unavailable, ii not worthless.
These statements are going abroad in
the community, to the great discredit ofthe
condition ofthe Bank. Ifthey are false, as
we hope they are, they should be promptly
stopped-instice to the Bank itself, to its
friends, to its note holders, equally demand
it-and it can be done only by a statement
made, and a reliable one, in relation to the
truth or falsity of these street rumors.
We believe there are no regular rates yet
established at which the bank notes are
now held. Brokers offer to purchase them
at 85 per cent discount. Some of our dea.
lers, we believe, propose to receive them
for goods, while the great majority refuse
TO. The community seem disposed quiet
ly and passively as possible to await the
of President from New Orleans and
Of DR.. Fowlkes from Philadelphia, 1.-THE
ofwhom street talk says, but we pre-
sumo it Is idle, has gone to the east to re-
side, )and also for the expected bank exhibit,
to see what they may turn up, before they
sacrifice the paper. We can say no more at
present, and have said no more than what
we felt it to be our duty as well as privi-
to say, and what the community will
sustain and thank us for SAYING.