Grand River times. [volume] (Grand Haven, Mich.) 1851-18??, 1853-11-16
Bank Failures.

Bank Failures.
Rumors are afloat respecting the failure of
numerous banking concerns in different parts
of the country, especially in the State of New
York. But few particulars have reached U.s.
and the reports in many instances need confr-
nation. The following list embraces all we
find mentioned in our exchanges as having fail
ed or being considered doubtful:
Chautauque Co. Bank, N. Y, Lewis Co. Bank,
Bank Of Owego Patchin's Bank, Buffalo, Pratt's
Bank, City Bank, Whites Bank Farmers Joint
Stock Bank, Toronto; Massillon Bank, Ohio
Farmers and Mechanics Bank, Kent Co., Nd;
Indiana Stock Secured Bank, at Peru; Ledes
Bank of Pennsylvania Milford Bank, Delaware;
The Erie and Kalamazoo Railroad Bank, Mich.
The New York Tribune and the Times both
deny that the Bank of Owego has suspended.
A dispatch from the cashier of the Erie and Kali
amazoo Bank, to Detroit, contradcts the report
ed failure of that institution, and claims that it
is now stronger than ever before.
In addition to the above, the failure of sever
al heavy eastern operators has been recently an
nounced. How long the present state of things
will continue at the east, and what the effect
will! be on western interests remains to be seen.
That there will be repetition of the scenes of
1885, in this part of the country, does not seem
probable. A difficulty in obtaining money may
retard some Of the numerous railroad move
ments that have been set on foot yet in the
nf u,bo fbo
rapid progress of the west will not be material
ly crippled by any business revulsions now like
ly to take place. Money is not yet scarce with
the western people. The products of their soil
command the highest price. Every branch of
industry with which they are occupied is in a
thrifty state, and their energies are the most
part directed to substantial and praiseworthy
pursuits. California and Australia are month
| ly adding millions to the currency of Europe
and America, and some of this wealth must,
under the existing condition of things in the
old countries, find its way to our part of the
world. A continued scarcity of money in the
eastern States will be felt here, but under all
the circumstances we see no ground for appre-
hending at the present time, any serious results.
~ For some unexplained cause we have
not received the usual amount Of mail matter
for few days past, and consequently are not
able to lay before our readers much Of the latest
news this week. Up to the time of going to
press no particulars Of the New York election
had reached US, although it took place one week
Nho A tbo ofa ,,,l,n
arrival from Europe had been announced, and
her mails contained nothing different from pre-
vious advices respecting affairs in the east. The
Turks were wrought to high pitch of enthu-
siasm. Military preparations took precedence
Of all other matters Private contributions of
all kinds continued to flow into the public. treas
ury. Large bodies of troops were in motion,
and the occurrence of actual hostilities seemed
| to be inevitable. Our next issue will, doubtless
contain exciting intelligence from that quarter.
| ny" The propeller Pocahontas arrived from
Buffalo Saturday evening, on her last trip for
the season. She brought cargo Of goods
large quantities of which, as usual, go to mer-
chants in the interior. Messrs. GILBERT e. Co.
and FERRY g. SoNs of this village, also receiv-
ed considerable additions to what they already
had on hand.
~. The schooner Ellen Stewart was driv-
en- ashore last Friday, near this place, north OF
the mouth of the river. After having been
lightened she was got off without great Difficult.
ty, on Saturday night -
4
W- We are Indebted to Mr.. WILSON, OF
Muskegon, for several valuable selections for
utilization in the Times