The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1854-10-24
Indiana Bank. and Bank Excitement.


up at Cincinnati. We have already noticed
the closing OF the doors of Manchester's Bank
at Cincinnati, and the anticipated run on
other Banks there, which might endanger
them. On Thursday, there was great run,
and early in the day the Banking House OF
p. Outcalt g. Co., closed its doors. The
Columbian of Friday says:
The busy crowd about Third street to-day,
have manifested what strong interest is
felt in money matters just now. In add
ton to the suspensions of Manchester, San
ford, and the Covington Trust Company,
who stopped payment yesterday, Messrs. p.
OutcaIt & Co., found themselves unable to
meet the crisis to-day, and they also closed
their doors. The Bank of Messrs. Hatch g.
Langdon, at the corner Of Main and Court,
Messrs. Ellis g. Sturgess, and Messrs. Smead,
CoIlard s. Hughes, experienced tight run.
Hatch a. Langdon possess general conf
dence. Ellis & Sturgess, on two former &C.
casions,h have experienced siIilar occurrences,
and have always proved themselves compe-
tent to stand any degree of pressure. Smead
g. Co., are known as men OF business, as a
firm of long standing and experience, not
immersed in personal frivolous expenses, but
emulous above everything of character for
business integrity.
The excitement towards these banks
seems confined to that class of depositors
whose situation, out of the commercial world,
leaves them but little data on which to Judge
for themselves. The readiness with which
their demands were met, seemed to make
them inclined to re-depOst what they had
Just drawn. Outcalt g. Co., are gentlemen
who enjoy the respect of the community;
their business has been much in the real
estate way. A house doing such business
has usually good basis, but the nature Of
the property that they hold prevents the
possibility of realizing large sums at a short
notice. There are few men who could meet
at a moments warning, every creditor they
have, and pay them; yet this is what is ex-
.pected of our moned men; our readers can
judge how justly. Few persons in business,
however wealthy they may be, have, at every
moment cash enough in their Golfers to meet
all their demands; yet this is what is expect
ed of our bankers.
Much anxiety exists with respect to the
Kanawha Bank, whose issues are not bank
able in this city; but It's last exhibit present
ed a f ir appearance, and our bankers say that
its notes are good.
Dispatches of the goth say that the run
has ceased, and no other failures reported.
Our State Stock Banks appear to be kick
ing up an excitement all over the West
We have already given details of the excite
ment at Cincinnati and Louisville. The
Louisville Journal of Saturday last says:
THE CURRExcY.-The notes of the Indi-
ana State Stock Banks are generally re-
fused, though some of the wholesale dry
goods houses take them in preference to
sixty to ninety days notes in exchange for
goods. Some of the brokers are buying
some of them at from 5 to 10 per cent. dis
count, while others refuse to touch them al
any price. They are not considered value.
less, but the impossbility Of rendering them
available for some time to come, and the
large amount they already have on hand ha:
forced most of the bankers to pursue thi:
course. The stock bank at Madison and q
few others are exceptions. They have fund:
deposited here for redemption of their notes
and so long as they continue to do so they
will be taken at the same rates of dscoun,
as the notes Of the State Bank OF Indiana =
per cent. discount. The State Auditor a
Indianapolis is redeeming the notes of the
Bank of Albany.
And at St. Louis the brokers are up il
arms The st. Louis News Of the 10Th SAYS
The brokers, to-day, were throwing ou
several OF the Indiana State Stock Shinplas
ter concerns. Those announce by telegra pt
as having failed, were of course not received
on any terms. We understand a meeting
of the brokers was held this forenoon to de.
termine what would be received and wha,
not. We nad not received the result up to
the hour of going to press.
Even away up in Chicago our Banks are
receiving polite attention. The Chicago
Tribune of late date says:
Nearly all of our city banks, and portion
OF the brokers yesterday refused to receive the
notes of the Indian Stock Security Banks %
currency-Capt. Swift, Mr.. Rogers-0r the
State Bank. and one or two Others not COM
ing into the arrangement.
What the result Of all this is to be, we can
not anticipate with any great degree of Ger.
tainty We presume the majority OF these
banks will gradually go into liquidation.-
We notice decline in Indiana State Stock
already, as a natural result of fall market
and an overlooking one being anticipated
probably, as the State Stock forming the ba
sis of the circulation of our Stock Banks il
gradually offered for sale.
Our Evansville Banks have been callet
upon lately to redeem immense amounts o.
their money, but they have always beer
prepared. An agent from Cincinnati wa.
among them last week. He informed u.
that there were no Banks in the State
PromPter than ours in redeeming their notes
we consider their money, Canal, Crescent
and N. Y. & Va. State Stock Banks, al
among the reliable funds.