The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1851-10-03
Our Paterson Correspondence.

Our Paterson Correspondence.
PATERSON, N. Sept. 20, 1851.
Excitement about The failure Of the Pc2r,e's Bunk
The officers burned in t6gy-Clerical consultations
Riot, &C., &c.
our readers will be aware Of the late excite
meIt which has prevailed in this city, owing to
the suspension Of the Peoples Bank, which came
like Thunderstorm to the senses Of the majority of
those who held bills ON that bank, but not to those
who have watched its procee dings and Issues for the
last twelve months. On Wednesday last, q notice
was placarded on the door of the bank, that their
agent In New York had refused to redeem their
bills, and therefore the bank had to suspend bust
ness. The public were quite prepared for the
worst, and meeting of the citizens was called for
Friday. About eight thousand people attended;
(nea<ly three fourths Of the city,. Congress Hall
was the place fixed upon by the committee, and
after arranging matters there, adjourned in a
body towards the bank, where the people were by
this time gathering in thousands, all along Main
street. John Chadwick, Esq was appointed chair
man, who spoke to the congregatsd Thousands Fl ON
the bank s,eps, and informed them the reason of
their being called on to attend that meeting
S. A. futile, Esq, was the first to address the
meeting After entering into, and detailing, some
bank, be recommended the people to select. or have
resolutions drawn up to the effect to have proper
persons chosen to investigate the whole affair, and
report thereon On Mr.. T. retiring, the chairman
came forward and put the question to who the
parties should be, when it was moved and carried
that Robert Csrrick, Esq, President of the Pater-
son Savings Bank, Charles DAnforth, and rhos. d.
Hoxey, Esqs, should be appointed. Messrs. Tag.
CART, Tutt!e and Hopper we're chosen to wait on the
chancellor at Newark, to receive certain powers
thsrefrom.
-.
chairman, the people, having by this time had am
pie Opportunity 10 arrange matters, il seems,
determined to make a full display Of the il feel
rgs on the occasion, by having prepared the
iuII length efgies Of Judge Burnett, the President
OF the bank, ii. q. Stimson, cashier, and James
Jackson, one Of the directors. On signal being
given, the people moved en- masse down Main street,
towards Judge Bumett's residence, and drawing
themselves into something like military line they
proceeded to unfold The figure. and having adjusted
Il on something like pole, with the full length IN
seription OF Burnett affixed thereon in large letters
the word was given 10 " fire." and immediate ~ the
flames weie seen ascending unto the heavens, until
al that was of the Judge had crumbed into ashes,
and several stones had penetrated through his win
dows, while the Judge himself had q very narrow
escape In the meantime the main thorouRhfares
IN and about had become 30 crowded, and the peo-
pie pressed together, that several had to DO taken
away in an exhausted condition. Before lea ving
the Jn5ges, however, they thought, as fnish to
the visit, they could not dc better than give him
three hearty eroaps, which had a very unearthiy
hollow sound with il. They then proceeded to tho
residences Of Stimson and Jackson, whose efigies
met similar fate. During all these proceedings
sheriff Lane made IL his business to be present. and
cautioned the people not to violate the law. Up to
late hour nothing Of serious nature took place
IL rupoted. On pretty good authority, that Cor i
nelius J. Westervelt, coal merchant, had closed /
business, owing to the failure Of the bank he being
concerned with the bills to heavy amount; some /
say rom seven to nire thousand d, lars.
On Sunday last, most Of the clergymen of Pater-
son undertook TO improve upon the rascaly failure
OF the Peoples Bank, by preaching in reference to
H. IL is thought, however, that "a swindle 30 COM
plete cannot be improved even By the clerical phi
losopbers OF Paterson.
The Rev. W. H Hornblower, Of the first Presby.
terian church, preached a sermon for the especial
con In bis church. He chose for his text these
words-"The cup was found in Benjim sack"
Genesis, 9Th chapter, latter clause Of 18th vere
he ke,. gentleman eloquently portrayed the man.
ner IN which the young Benjamin had the crime Of
another fastened upon him By evidence which would
have been sufficient to have convicted him In any
court OF before any jury, and yet be was innocent
compelled to suffer by the rascality Of others The
spplicstion appeared to be good one, proYid-
ed the deacon is clear Of guilt in this case;
The Rev. l.. Virgins, OF the first Reformed
Dutch Church. told bis con gregation that at served
he m right" IL would teach them to lay up their
treasures In heaven, and lot trust ii in the hands Of
hisye: Ills text wasI"ln prosperity rejoice; 10
diversity CO nsider." All conteRded, however. that
whoever might have bcea the instrument, that
he Lord was the principal in this burst up, and
bat good will yet come out Of IL.
To-day was great one in this city. The Pro-
sstant Association Empire Lodge No. l, aud the
Warrington Lodge No. 2. were visit from New
cik, and were escorted by the Paterson Washing
on Lodge No. !, and after al being arranged.
made their say TO the Psssaic Hotel, where dinner
"a laid fYrS00 After psrtakng Of the good things,
&c procession formed, and paradcd through the
iiy until hafpast three During their parading,
I'D while on their way 10 the falls passing tho Jef-
trsoa works missile was thrown, which pene-
rated through one Of the banners. BY one Thomas
,oisp, from he opposito party. he vas immedi-
tely arrested, and placed in the city jail. During
be 1cufle in the arrest Of Nolan, rcvolvers and
niyes were dawn, and n person named Patrick
iulen vas stab bed In the side lie was conveyed
bic home, where medical aid was Immediately
allied n Pea e being onco more restored, they all
Iaie1td IN body to the railroad station, where
hsy took The cars to New lork.