The Trinity times., 1855-03-10
Editorial c COrrespOndcnce.
SAN FRANCISCO, Feb &c, 1855.


The past week never did, and probably
never will have its parallel in excitement and
anxiety. The fearful monetary panic which
has been weighing so hea lily on the commu.
nifty, has impaired. in few hours, the conf
dence SO faithfully manifested in business
connections throughout the country for the
last five years
The suspension Of Messrs. Page, Bacon 6s
Co., on the 22nd, and of Nlessrs. Adams &,
Co., and Well, Fargo 6, Co., on the ODD,
with other smaller banks, was a blow to Cal
ifornia which it was not expected to bear
easily. The "run" upon other banking in
sttutions, Immediately after the above facts
became known, was most exciting Montgo
merry street, all day on the 23d, was one
seething mass of human beings and it was
not till night that the crowds dispersed,--
and up TO the present time, the only subject
Of conversation in all Places is the dreadful
blow to California, the causes of which can
be traced to numerous sources ;---it IS, how
ever, our portion of the result of the hard
times now SO prevalent throughout the coun-
Try.
The fsilure Of Messrs. Page, Bacon &
Co. was the prime cause of the calamity in
this State, and no doubt the cause Of their
failure was their too anxious endeavor to
sustain their parent house in ST. Louis, which
has been embarrassed for some time.
The suspension of Adams & Co. is the
most severe BLOW of all, as it affects the most
distant portions Of the Sate,- is as humil
iatng to those connected with the house, as
it is severe to the suffering depositor.
But none are so well calculated to stand mp
under the effects of difficulties such as these,
as the California people and already mat
tiers are beginning to assume a more cheerful
shape. The different banking houses are
arranging matters with their creditors, so as
to 90 on with their business as usual, and
they ask of their friends and depositols
throughout the country but tune, and they
will li4uidate every dollar Of Their liabilities
The disposition manifested here, is TO grant
every reasonable request; for the well known
ability and energy Of the Houses that have
been overwhelmed BY these misfortunes, will
IL l.. 1l, t1.,. bo,, 4,
calamities, which have been as great in pc
conary point Of view.
We believe all the drafts Drawn On he
Atlantic States by the Houses above named,
pfe5ions to their suspension, are all provided
for in the most ample manner The state
ment and proposition Of Adams & Co., made
this morning. meets with general approval
and its terms are cheerfuly ac4aesced il by
those who know them best.
Messrs. Page, Bacon & CO. are making
of two, Eve, siz and eight months, and will
probably resume their business shortly
Wells, Fargo & Co. have not yet made any
detailed statement, but it is expcc.ed they
will come out ali rigS5.
There was no business Of any Importance
done by the Legislature during the past
week. The Hospital and State Prison Com
mittees are away visiting those institutions,
and not much business will be accomplished
until they return, which will probably be in
few days EAR.
From CANON REEK.-We learn that the
miners on Canon Creek are doing extreme ly
well. The Canon Creek Water Company
Qcfmerly known as the Big Dam Company
have completed their race for distance of
one and a half miles and can now furnish
over four hundred suice heads Of water
The Canon City Company and the st. Louis
Water Company are repairing their dams
which were carried away by the late frcshct
and will soon be prepared to furnish large
> supply of water.
CRAM, ROGERS q Co will please accept
our thanks for full supplies Of papers from
all part of California and the Atlantic States
during the past week.
A NV ExrREss-has been started by the
late employees of Adams & Co, called the
Pacific Express. Their experience in the bus
mess will doubtless ensure to them a full