The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1848-01-22

News FROM THE WEST INDTEs-THE FAILURE
OF THE WEST INDIA BANK.-By the arrival of
the packet Ana d. Richardson, at this port, we
have received full files of West Indian papers, to
the 2sth ult.
The rumor that the West India Bank had fail
ed Is confirmed; and in order to lay before our
readers all the information possible on the SUBJ
ject, we insert the following, which we have
clipped from our files.-
From the Barbados Mercury, Dec.
The WEST INDIA BANK has stopped payment OF spe-
posites Of money are a. worthy Of acceptance, and
valuable to all holding bank receipts the fret day
the institution established 1t has during period
Of seven years realized the most ssngune expectations
Of the community aud the cessation Of cash payments
to the usual extent arises solely through the brief space
want Of specie to the several branch
the neighboring colonies where there surplus of all
description OF coins that will forthwith be forwarded
to Barbados Orders have been dispatched for this su
perabuudsnt supply and the business Of the bank will
be resumed within short period with the same pro-
misses Of advantage holding the same Conscience OF this
enlightened public to whose sound judgment appeal
in reasonable terms, and in sentiments which bear
sigr OF DISSEMINATION We do not however rolicit the
holders Of bank those whose money IL invested
in the bank to be led to conclusions through obser
vstons; but We do anxious urge them in justice and
oandor to apply to creditors merchants and dealers in
every hind Of trade throughout the leland and
tain the value Of West India Bank notes From such
persons, VINO Know the true condition OF the bank
affairs, they will learn that this paper Ia valuable and
can be rendered available at all times and to the great
est extent Ia purchases and payments These the
parties who capable Of testing the solvenoy Of the
bank. At the moment write dare not conceal the
truth that the deepest rightly manifested at
the scarcity Of silver coin for the general Of the
people. But 1t cannot be denied, that this want will be
relieved gradually In the due Of time. and
thro ughtthe natural channels Of business.
On the eighth of December, at a numerous
meeting Of shareholders, held pursuant to public
notice, the following resolutions were passed -
First-Thst this meeting views with the intense
feelings OF astonshment and regret the suspension Of
business by the West India Bank.
Second-Thst 1t Ia the undoubted right and bounden
duty OF all parties interesed to adopt such of
precauton may best calculated for securing the
shareholders and depostors from further
than may reasonably be expected under the present
complexion Of affairs.
Third-That ss q preliminary measure, IT Is deemed
expedient to appoint Provisional Committee to asso-
ciate with number Of the Directors, to examine The
state Of the banks ssirs aud report thereon for the
information of the share holders and the public
Fourth-Tbat the committee be empowered TO cali 10
tn assistance the officials aud servants OF the bank az
may be required, and to employ counse or othtr aid
that may be- deemed necesssry
The following is the report OF the provisional
committee;
The committee appointed under q resolution of the
meeting Of shareholders, held Wednesday, the Sch
for inspecting affairs OF the Barbados Branch
Of the West India Bank, have deemed 1t sxpsdisnt to