The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1855-03-21

Jews nv THE NOR raEas iIsnT


Shortest Passage eeer made - Tas Fa5,ares IN Cal,
uerasa, DC, &C.
The steamship Northern LIGHT made tba ,nr
from San Juan to Sandy Hook In seven days sno
elk hours making the time occupied In the ttiI
from San Francisco twenty days and one hour
said to be the shortest passage ever made.
The Alta California of February 26, makes the
following statement with regard to the reeea, fall
ures:
The great feature OF the since the sailing Il
the last steamer, IL the failure Of the sevaral bsk
ina houses. When the news frs. came of the fail.
ure Of Page Bacon, of 81 Louis run eonmar
ced al once on Page Bacon & Co. which Was Non,
NJ all that day, and over 100000 was whhdrawn
from the Bank. The next day the run ceased. and
matters apparently were movias ON ma usuai III
the morning OF the S2d, when their bank was no,
opened al the usual hour, and shortly after hand
bills were sent all over town announcing that they
must suspend. |, seems that quite a deep run had
been going all day, I'LL their speeds was reduced
to less than Slo0o00 and they feared to keep open
any longer. Owing to the fact that 1t holiday
but little business was done that day YET 1t seems
that over Saf0.ta0 was drawn out during the day
friu Adams & Co.'S. That evening the steamer
arrived with the news that Page, Bacon & Co.'S
drafts had all been paid, and il was then supposed
that the excitement aud trouble was over
But the next morning Adams & Co announced
that they too mus. suspend, and shortly after w ellis
Fargo \ Co followed suit Two small affairs cal
led Savings Banks did the same and then came a
general run on all that remained open, The great.
est run WAS npon Drexe Ssther g. Church, r. Da-
vison ard Lucas. Turner & Co. TalIant & Wilde
and Sanders s Brenhsn, suffered little from the
panic, and paid OF their depositors Palmer. Cook
4 Co were not affected by the run In the les M hut
paid every claim ss presented. This house which
has been most hercey ssailed during the past wear
for pariz an purposes, and every means both fair
and unfair taken to impair It's credit when the hour
Of trial came il was found stronger than any house
able n mi hon ;t,
nsighbors
On Saturday the continued, though most of
the SIN al depositors had withdrawn their deposits
the dsy before. Various rumors hsd been In cir
QUESTION relstve TO the affairs the dere M housas
eus we can assure people Of usthins more than has
EsnsPired Page. Bacon Co. will resume il is
'sd on the 2sth, their creditors having siven them
a. e1te1H a on large smount of their indebted
ness Wells, Fargo Co give strong promise of an
esIiy resumption. and Adams Il Co in our psper of
this moEnins; make statement in regard to their
agsin, fsuhcent ienieucy is shown them by their
creditors.
The Placer Times of the same date devotes quits
al long article to the same subject, from which we
extract the following:
But the practical question now is, what Is bes.
TO be donei What course would be uaogt conJuc-
tive TO the interest Of the creditors One Of the In.
situations, that Of Page Bacon & CO., signifies its
desire 10 go on, II Il be allowed limited time on
portion OF ts liabilities. We learn that its propo.
sails IN the rnaln have been acceded to- and that II
will probably resume during the present week.
Perhaps this course was best and that In the end
depositors will be benefited byit. Another Wells.
Fargo 3 CO., announced their ability to resume
to-day, their suspension having been caused by
Ifsre dehotsncy OF coin. OF what the resi- desire
or intend we are not apprised further than that re-
cevers have been appointed, and that they assure
the public OF their solveney, and final ability to con-
Gel all obligations. We hope they NAV NOT be de-
ceiTed In this calculation, but in any event we pre-,
sumo that creditors will receive their pro rata and
with II a lesson not very favorable to confidence
Ia banking Institutions generally
After mentioning the names of those houses which
passed through the crisis unscathed the Times con.
clades:
In conclusion we would say, that not withdrawing
these entertainments, and the individual losses
which must result from them to her own citizens
ihe credit ornis abroad should not be iustly inn
paired By them; They have resulted more from her
desi.e TO aid others than to benefit herself Since
tbs discovery OF her internal wealth. she hss lavish.
ed her wealth on the world, without reapipg any
sde2gAts benefit, and sot many such lessons a. that
which sac has received, will be required to teach
her better line OF policy, and that before being
liberal to others she should be just to herself
MiscELLAsEoUs SUMMARY.
We copy the following from the Alta California
On the 18TH the Senatorial Convention adjourned
s'as de, by vote of IS to "a Those voting in The
minority were principal, the friends of Dr. Gwin
and the majority comprised Wings and various fac
1 TORS Of the Democracy.
The noWs from the Kern River is of an excit;ns
ehsrrcter The cunts from the ewly discovered
aisgnes represent the miners as doing remarkably
steamers for San Pedro-the nearest point Of disaru
bsIEston for the mines-go down crowded with
passengers ~
On The morning Of the 18th, the ST ChsrIes Hotel
ana Humans Ho;el in this city. destroyed by
were burned on the 18th; and in Stockton tuent.
I'VE houses were destroyed by FIRE on the 2lst
The indian troubles in the vicinity appear to be in
ereaang. Some ten white men and about ssvanty
Indiana have been killed.
The anniversary of the birth day of Washington
was celebrated in San Francisco by general turSort
OF the IRE department, and by appropriste cers,no
MES in the Metropolitan Theatre
The native Caliornians have held seyersi nsatir.
emigrste TO Sonora oPS W
The Mariposs Gold Mining Comnsrv aIonaou
concern, was Solo by the sheritfa few dsysago
IN tne case OF hodman Backus, indicted for the
murder OF Frederick Oldham, the jury rendered
verdict OF guilty of mans.ug hter
The Sonora Democrat SAYS
Johh ID R!chatdson, of Jamestown who ha, been
oo,hs BANKING business for time, departed for
psttS unknown on Thursday. He has been engaged
II o9ying gold dust for Page, Bacon l. Co but re-
ceWns deposit. 70 his own name. The depositors
are losers about S30,ooO. and Page Bacon Co about
S3,ou0. MIR: r. was old resident of the Slate and
mas always borne good reputation.
Abiding to the expresses Of Adams L Co, San
frsnciseo paper remarks that
me different expresses of Adaus L. Co for the
Northern and Southern mines will Iesva to.dsvN
gam rs usual. Their express to the Fat nv The
I."T. t 9aS which sails ON Monday, 26th will also
teeVe then as heretofore. There win be no change
VI cessation In the expires, businsss of this ceupany
Aheie nave been more destructive fires in Caitox.
nia dispatch from Stockton, dated FEBRUARY n
says; 80
destructive IRE broke out in our civ about II
oeioeh tnis morning on FL Dorado street Near the
eo.nT OF LsVee street, in a clothing store s1S
pseea win astonishing rapidity DESTROYING nrona,
rom the corner of Leyee street TO the bsck hn,i
otTEs on tbs square OF the block on the era,
oiAdwsids and lain street On Leyee strsst !, AZ
Efoyed half the block to Centre street " ao-
we also learn that dispatch from Grass yaI,sv
ua'ed FEB 70. that FIRE broke out in Nevada IN ,bt
evening In the Virgil Hotel. Twentyfy bousas
n Onfned' including the Virginia Hotel, Hotel de-
i1s' and Halls large livery Stable The loss i. es.
cd. "'e' "eie Dufh-
inc Court House, at San Leando, the county
scar OF Alameda county, was destroyed by fire on
the 24'h' with nost of the records
Fkoa THE SANDWICH IsLASps
me British residents at Honolulu are getting nm
patriotic fund" for the relief of the widow, and
orphans of the English who FELL In the presen, e.,
ropean war.
The French frigate Eurydice, and the Ry,,i.h