The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-01-19

ehn the right title aad interest of tine Gardner
Gold Quarts P.Serizing and matchmaking Ma.
N shne Co., In the patent Of GARDENERS improved
arrangement oil quartz palverizns and amagt- :.
mauon..
\ Simeon Diapers regular semi-w,eky auction sale
bf stocks viii tahe place the MerchAns Exc ange
lc-nerrow, FridsyJ at l2i O'Clock. Among the
securities 70 be offered o ab.r OF shares rep
teseltipg the Nshoney and sham,kin Coal pro
pery.
1t the second Board the ma,kst opened and
closed with an upward tsndeacy.. Indiana SIS
hdvapcsd l per cent; Virginia 6's, 1; Harlem LIST
Binds, /; Canton Co., /; Nicaragua Transit, b;
Harlem, /.
The Peter Cooper Fire Insurance Company have
aeelaiei dividend Of seven per cent; tie Rat
gers Fire Insurance, four per cent; the Corn Ex-
GO Bank three and half per cent
II 10 our impression that Mr.. David Hoadley Is the
SUssnee or agent Of Mesns Page, BASIN Co., AID
Of the assignee. He receives their remit.ancss or
shipments Of geld made to New York from Ban Fran
ssoo and pays all dIa drawn against IL. We not
kvaie that Page, Bacon & Co. have made al assign
nent for the benefit Of their creditors. II tney
sve, 10 the duty Of the assignee to retain posses
Of their assets and pay their creditors pro rata
md mot pay any demand Ia fall until II 10 shown THAT
hl can be paid.
ii Inc lhnrbcenub ~ sho A1bAss0ue AEonouLcEb
bhice today we're as follows
II kecetvsd SlW,46I %
Ssynsns ..................... zss ~
6sisncs. u.s. Ss Ii
= OF the amount received to-day 100000 was Q
jsansier drsft.
II Yhe announcement Of the suspension Of Page &
Bacon In St. Louis, created quite . panic, and
run upon most of the public and private banking
houses in that city. Only one new failure vas ro-
ported in the pagers Of that day-Messrs. Loker Re-
sick d Co. About dozen Of the ssatniest and most
pSsminens citizens Of 81. Louis Published card on
he 18th inst, In which they pledged themselves to
sustaIn tne leading banking houses, and made them
seves responsible for deposits with the houses nam
I'D. We give st some length, In another part Of
Mis- day aper, extracts from s. Loais papers,
htive 10 the excitement In that city. We have no
i neub. few days will safice 70 allsy the pane,
ard partially restore publ, confidence. From ell
parts Of the country telegraph; dispatches report
eumsIous heavy failures. The uspension Of houses
b. such magnitude, engaged In active basiness ope
iaiioDs, must materially weaken the Little conf
ience left. and pro.ract the revulsion TO iadsd
Kite period. The restos alton Of . sound and
'hss}thy state OF things can only be brought
hbous by such an ordeal rs We are now
passiag through. II will be necessary TO separate
he wheat from the chat, 10 separate the we.k and
diseased from the strong and hesthy, before We ca1
lexpsct better times. We cannot pat,1 up matters
sBd work along NJ der insolvency and fottenness, as
IN tines Of confidence when credit covers baukru T.
cy and hdss It from the pubic eye. The time Of tsi
has come and al who cannot stare the search
lfng INV stigssion must succumb. Confidence nss
ssksn 70 such low point that Il cannot sustain
Ghose who have not the sustain them
Tntse fsi ures purify the atmosphere Of the financial
and commercial world, and tina storm has not pass
ed over yet. We tear many m ,re failures mus. yes
occur before settled and permanent ease win be 70
Allied. New York has noe Jet hsd its share. rae
Immense losses on all toe pubic loans for States,
sitss, counties, towns, railroads, &C., negotiated
IN this city, have fallen with crushing effect upon
private banking houses, and IL In the general I'm
preston that the end n not yet-that there are
aumber Of patched up concerns left, which must
leoener or later collapse.
The Supreme Court has appointed the United
States Trust Company receiver for the Knicker-
becker Bank, and John L. Mason, Esq, referee.
The Jsgislature Of Arkansas has passed an oct
proAibitiDg the Issue or circulation Of bank bills
Moor the denomination Of five dollars About half
dozen other States have similar act 10 operation
and.n works sen. The Governor OF Michigan 70