The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-03-26
Our San Francisco Correspondence.

poets.
The last fortnight has been period Of paralleed
sitement and feverish anxiety throughout the whole
State and business of all kinds has received shock
which will be felt for time to The house Of
Page, Bacon Il Co. had been firmly established in the
public confidence and its liberal and honorable mode of
conducting business had gained strong hold upon
the esteem Of the people, that when it announced
their doors were closed the whole community ap.
paled II some great and overwhelming calamity had
suddenly overtsken The question was in every ones
mouth "What In to be done nowS" "Who Ia worthy OF
credit, IL Page, Bacon Co. are mott" Business was
completely parayzed and every where might be seen
anxious and excited crowds discussing earnestly the
gloomy aspect of affairs But as time was
allowed tor a little cool reflection, great re.ac-
ton took place, and tho public became' satisfied
that the house was not only perfectly solvent,
but that its suspension entirely the re-
suh of untoward circumstances over which they
had control, and which the greatest prudence
could not have foreseen. When its actual condition
was known its friends rallied around It, and urged that
steps at once be taken for speedy resumption. The
suspension occurred Thursday the i2d and on Friday
Saturday there intense desire that an ex.
hbit should be made Of its affairs, with view to an i'm
mediate resumption If the condition of the house was
favorable it supposed to be. The steamer via
Nicaragua to leave the following, Monday, at
-
should take with her the gratifying intelligence that
this old and favorte house still retained the public
hdepee, and would resume putiness In few days.
meeting Of the creditors accordingly called for
O'Clock r. N. Sunday, the urgency Of the occasion
being considered q sufficient Justification for Invading
TIA sanctity OF the Sabbath At the appointed hour
dense throng assembled; but the crowd great
that, for the dispatch of business, It deemed sd
viable 70 admit only creditors into the building When
the meeting organized solemn stiffness prevailed
an apparently, being deeply impressed with the mpor
fsncs of the occasion. About this time, ID d. Page Esq
the senior partner OF the house. entered the room and
as he advanced through the crowd warmly greeted
with applause evidence OF the popular sympathy
Ysur readers win have doubtless the published
proceedings Of this meeting and therefore need not re-
capitulate them. Bat the published report was very
rseagre eptome OF ~hat said aud Gone, and will
convey to public but faint impression of the en.hu
siasm which prevailed and Of the earnest desire which
was evnced that the house should at once resume bu
ssness Indeed the whole pro ,eeding high
pment to the members Of the house, and evnced just
appreciation OF the honorable conduct which has marsei
the Arm Of Page Bacon Co. in all its extensive deal
ings with the public during the last five years.
The setting composed exclusively OF their Gre
dtors; and, as general thing, creditors are not
the most lesent aud forbearns class OF people, Bat
on this occasion they seemed TO vie With each other
In aets OF hberality and when in the course OF the
proesedinss Mr. D. d. Page, with his manly Ease,
he was greeted With a storm Of applause The old
gentleman Ia no orator in technical sense but when
IN his plain, straightforward simple manner
he detailed the circumstances which brought this tenn
porary calamity upon his house aud pledged hs word
that aside from all the assets OF the house his private
fortune was amply sufficient to meet all its liabilities
and should be scrupuousiy applied for that purpose II
necessary his words carried conviction TO every mind
n was at proposed by a gentleman present, that
the friends Of the house should guarantees the certificates
proposed 70 be issued 10 the depostors and said tho
movement was approved he would guarantee them 70
the amount Of $4,000. The proposition received
with reclamation and from all parts Of the per.
sons spoke out Offering TO unite In the guaranty
mining $50 900 az the sum for which they would bind