Minnesota weekly times. [volume] (St. Paul, Minn.) 1854-1859, 1855-02-06
MoxDAY. Jan. Tsp. n.

.FW E.G1g MONDAY, Jan. Tsp. u.
As We stated this morning, the drafts of Messrs.
Page. Bacon 4 Co., by the Northern Light, were
paid at the Bank of America, the assignment Of
the gold having been made to Mr.. David Hoadley.
The arrangement for the transfer was amcably
made with Messrs. Duncan, Sherman Co.,
who thereby avoided the risk Of having attach
ments laid upon the treasure by the creditors Of
Page & Bacon. ..-,t .. ..,s..., n f.l sefs
The following statement of the condition of the
San Francisco house on the 23d of Dec. was re-
ceived by the Northern Light:
DEBIT BALANCES.
Insurance. djaa $37,925
Freights. 1925
CREDIT BALANCES.
Exchange and Interest. 81 ,19OO85
Deposits. l,7l6,58S
Balance of cash on hand Dec. %, $3.50, 405.
This would show very strong position. n
Gen. Larimer, of Pittsburg, has made an assign
ment of all his property, real and personal, to
Thomas Davidson, of East Liberty, and Thomas
Melen of Pittsburgh, in trust of all his creditors
without preference to any. The liabilities arc
estimated at about 100000. The heaviest items
are those of the Pittsburg and Connel'svile Rail-
road Company, which claim 100000 or more,
and the Ohio and Pennsylvania Railroad, about
$4,000.
The Convention of Indians Banks, held at In
dianapols on the 9Th inst, established agency,
to which the Banks represented agreed to send
all notes of Indiana Banks, not specie paying,
received by them for redemption, by returning
them to the Auditor for bonds, thus gradually
driving out the deprecated currency.
TUESDAY, Jan. 16--P. M.
One of the evening papers having stated that
s'the failure of Messrs. Stanton & Wilcox has led
to the disclosure that the late President of the
Atlantic Bank advanced them $67 900, allowing
them to overdraw their account that much, with
out security" Mr.. Otis, the President alluded to-
1scho n oo,I a. OF ho 10
an advance, and stating that the transaction re-
ferred to was regular case of over-draft by GER
tifying checks which were not made good, and
that Stanton & Wilcox were called upon the same
day to make the check good.
Our tclegraphic dispatch from New Orleans an
nounces the failure of Messrs. Shultz, MADDEN Il
Latting, said to be one of the heaviest produce
houses in that city. From St. Louis, we learn
that the run on Benoist & Lucas and Simonds had
stopped, and quiet reigned.
The controversy in relation to Mcssrs. Page &
Bacon, and Duncan, Sherman Co., is the prom
inent topic of conversation in the street, and the
opinions in regard to it are quite various. We
think, however, the majority inclined to believe
that the course adopted by Messrs. d. s. & Co.,
will be sustained by all prudent bankers. There
is also considerable discussion in regard to the
right of MIR. Bacon to take possession of the let
ters written BY his house in San Francisco to
Messrs. Duncan, Sherman & Co., and which
rived by the Northern Light. correspondence
has taken place between Messrs. D. S. & Co., and
the President of the Transit Co., in regard to the
delivery of these letters. We understan that the
failure of Messrs. Page & Bacon will be known
in San Francisco on the arrival of the steamer
which connects with the George Law, which left
here on the 5th inst, although the failure did not
take place until the 18th. This end will be at
tanned by intercepting the Panama boat at Aca-
pulco, the news having been sent to Vera Cruz,
via New Orleans, and expressed across Mexico to
3hat port.-N. Y. Tribune.