The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-03-25

ALL av thsirs
Ss ,set that II was holiday but lttls business was
done that day; yet it that over $780, 600 was
evening the steamer arrived with the news that Page
Bacon Co. drafts had all been paid and it was then
snnnosed that the excitement and trouble were over
But the next morning Adams & Co. Announced that
they too must suspend and shortly after Wells Fargo
90. Il lowed suit
pank aid the same and then came general run on ali
that remained open The greatest run was upon Drexe
sather Church, b. Davidson, and Lucas Turner & Co
Tallant Wilde and Sanders 4 Brenham suffered little
from the panic and paid of their depositors Palmer
Cook Co. affected by the run in least but
Maid every claim az presented This house which has
been most ercev asssed during the psst wear for par
tsan purposes and every means both fair and unfair
taken 10 impair its credit when the hour of trial came
vas found stronger than any house in the city and
able TO lend a helping hand to its neighbors.
On SATURDAY the run continued, thouuh most Of the
snail asnnsitors baa wtharawn thar ssnos;ts on ,he
day before In Sacramento, Adams & Co.. Wells Fargo
Co. and Reid Co. closed their Offices the two latter
In Jamestown John Richardson who was doing a
banking business at that place closed his doors and
parted Tor parts unknown HIS depostors lose about
Richardson's departure safe was broken open by the
people, but only $40 was found therein.
Throughout the mining sections wherever it could be
reached BY telegraph the suspension Of Adams Co.
announced early Friday morning. and simultaneously
. commenced upon all the other banking houses
Adams Co. stopped payment at all their Offices and
Wells Fargo Co. at Sacramento, Marysvile, Nevada,
and perhaps few other places.
George SUSPENDED,
also Hamlet Davis at Nevada.
The creditors Of Page, Bacon l. Co held meeting
Sunday last and considered plan BY which that house
assets and above abties OF SS88 1858; but it is
proper to state that upwards of 81 600 is in New
York St. Louis whereas the liabilities Of the
mostly due in California It proposed that de
postors the amount Of $4,000 should receive evil
dences of bearing interest at the rate Of
per cent q month, and payable in two, four, six and
eight months and thought that II the depositors
accepted this proposition the house would be enabled to
10 on Merchants and others affixed their to a
bond in the of about million Of dollars, guaran
teeing the payment OF these deposits and it Is be-
in the course of five six DAYS.
Messrs Wells, Fargo Co. resumed payment on
Tuesday, and SO tar all demands have been promptly
Adams Co. have aed petition for insolvency and
their schedule Of liabilities show balance
bilities 81 $50 III Mr woods has given ali his pri-
vate property estimated $780, O0O and this goes to
make up the total of the assets
We understand that the express business Of Adams &
Co. will be carrid without any interruption.
Tho failure Of Robinson Co. is bad one, but it is
sumo, in q few days
rFrom the San francisco Herald. Feb. 2s1
me people Of CaTr ,n ana 9. me A.an.lc aaates
ths nast ,vssL THO arst cons;aarnt;on Sh;ch must
strike every rejecting MIND Is the madness and incra
tde az ths Fastarn states in onnosinr sverv
sr the hanast NJ Caiforno and thrnwno ali ~
ohsacss IN the rsv of our Advancement snch conrsa
Il the bs;nht Of short sicbtas foilv nnrnn the ear
Iss4 s Snred 70 tha atout;c ces Dod Inst ths
yaIms ~ At least s;xty millions Of doars Dnrnr the
same time there was an exbausnr drain or specie from
Nev york In Enrone and Wa assert that thnsa abroad
Tho mos, reviIa raiforn;a will not denv tbat onr ao
saved the entire business community from bankrupfev
- ,nst bsv T Dronaa more d;astrn than tht' ~ isag
ha s,r;n.I ~ tha Cafornis staomar vos IooIad CO..
With feversh anxiety and wall street breated again as
yan,ts NJ ths hankers Had h hear announced nr;n
the irving times in New York that California had cn
inoss ;rar tha Statas s,d aS sard No rnnrs nid tn
Their rsI;sf would have
and crashing manic have been the conseonenca Vet
Az arn a pa nd tha u @ t;nss4 =; Tnas e'
syen mo ;ndsbtad 10 10 for tha aru i;Sa Mood that
gyes yitslty to their commercial systsmsnars no ON
nortnr;tv ~ rav;e and ;nnra M tha;r ionrnaIs AZ
ponncs IA Al little better than r.; ,btsn
the timid NV telling Them onr state Ia another Pensa
nerium where ali manner Of horror. await them They
rates Of to our shoresothey put our markets
and cripple our merchants by inundating us with
vnders n thew do not realize hu ndred per cent profit
on their shipments They cunningy duplicate the or
Sers sent nv our merchant and stupdly manest them
~ upsnsci8ed merchandise. The Western and south
western members of Congress- are in the main, our
friends They support the measures which are indis.
10 the further progress and prosperty of our
STATE Rnt the of the States bordering
The NEUTRALITY-SUSPICIOUS. manufacturing and arricui.
tnral-ust those which are most dependent upon and
most indsbted tn ma are those that are most nncom
rrom,sing In their hostility To ma Thew onnose the
overland telegraph, the Pacific Railroad the overland
staue road the line of seamers To Shanghai the re
fnpdino az the civil debt and generally every measure
calculated to deveope the of our State and to
producs the very god upon which their stability de-
rends These stunid pocians-most short sighted ero
fstv now have an opportunity OF learning to their
cost. how entirely thew are dependent upon u.s. The
steamer which let here on Monday took
thousand dollars instead of the usual quota of six or
seven hundred thousand and the mail steamer of Mon
dav viii probably not take more than one hundred thou
nand instead Of a million When these adyices reach
New York IL there be not ratnS among the dry bones
in Wall street we are very much mistaken When our
reyers further learn that the golden stream which has
sustained them 40 onr is likely to be cut off for months
TO come the storm which they have been stag
serinr for the last four months will burst upon them
nth redoubled fnrv and then thew viii realize In
degree what thew owe TO s and with what nera itude
rhev b.ye trsated us n the news have the effect Of
openipo their ewes to their real interests-if IL
convince them. AZ it should do that they are. by
4 direct chain of conpeauences, benefited by every
measure that tends 70 increase the populstion-to
dsyelon the resonrses and Advance the nroaneritv
~ r.i,forni. wa .bau rot h.va suffered n vain