Washington sentinel. [volume] (City of Washington [D.C.]) 1853-1856, 1855-03-27

ARRIVAL OF THE STEAMER GEORGE
LAW.
Three Days Later from California.
The Financial Panic subsidized Resumption
Of Wells, Fargo q Co.-The House Of Page,
Bacon d Co. open to special Deposiiors-
piication Of Adams d Co. for tie benefit Of
the hsoloem Laacs-The House Threatened
by a Mob Contends Of a Savings Ba,,k-
Shipments of Gold-E 1citement at Shasta
Rain at Iast-Ihe Mines, dc.
The steamer George Law arrived at New
York on Saturday with dates from San Fran
cisco to the LIST instant, only three days later
She brought 234 passengers, among them Col
onel Fremont, and $3l7,800 in gold The fol-
lowing are the principle consignees:
Messrs. Drexel Il Co., 100000: Metropoli-
tan Bank, $4,000; Rich & Brothers, $25, 900;
Wells, Fargo d Co., $4,000; Adams h Co.,
$4,000, with other smaller amounts, reaching
in all $3l7,8OO.
The steamship "Golden Gate,'' Allan Nc
Lane, commander, left San Francisco at 1890
p. m, on the lst, and made the run to Panama
in IL days and hours, running time,) the
quickest time ever make by any steamer on the
| Pacific.
The outward passengers by the aGeorge
Law" were landed at Aspinwall on the morn
ing Of the 10Th, and left Panama on the Golden
Age" the same day.
| From the San Francisco Herald March 1st
The Bank Excitement.
| The excitement of the past few days seems
to have, in some degree, subsidized, and as the
public became informed of the true position of
banking affairs, o disposition is manifest to
await the result rather than risk serious loss
| by pressing immediate liquidation.
Wells, Fargo 4 Co.
We take great pleasure in announcing that
| Wells, Fargo Il Co. resumed business yester
| day, and everything connected with their estab
lshment went on rs usual. The suit of Wash.
| burn and others against Pordee, commenced in
the Fourth District Court, in which the iniunc-
ton was granted, has been discontinued, and
an order was entered vacating the appointment
of Receiver. A statement of the affairs of
the house shows the assets to be $743499, and
the liabilities $354,394. Nearly all their Offices
in the interior were able to stand the run upon
them without being compelled to shut their
| doors.
Page, Bacon a Co.
The banking house Of Messrs. Page, Bacon
d Co., was open yesterday to special deposit
tors, and parties having property placed in the
custody of this house for safe-keeping were
afforded an opportunity to withdraw the same
The bank will be open again to-day.
Messrs. Page, Bacon 4 Co. promise, in their
new arrangement for resuming their business,
to issue certificates of deposit, bearing interest
at one per cent per month, which certificates
are guaranteed by some of our first men to the
amount of over million of dollars The
bond guaranteeing the certificates has been
duly executed and acknowledged, and as soon
as the amount required by the firm is made up,
which will, doubtless, be done shortly, the GER
| ti6cates will be issued and the house placed
upon good basis
| Adams a. Co.
| This firm have confessed themselves insol.
vent and applied for the benefit of the insolvent
act. A stay of all proceedings on the part of
the creditors of the firm, and of I. C. Woods
is ordered by Judge Lake, and notice is given
that the creditors appear on the 3lst of March,
to show cause why the prayer of the insolvent
to be discharged from his debts should not be
granted.
Apple alton of Adams 4 Co. for the benent
their affairs.
| A petition in insolvency was filed in the
| Fourth District Court by Mr.. Isaiah G. Woods,
of the firm Of Adams Il Co., praying to make
cession Of his estate and that of his copart
nership, to his creditors, and to be released
from his debts. The petitioner recites that !" in
consequence of the general panic which took
possession of the people throughout the State,
the said firm have recently been called upon to
pay an unusual large proportion of the moneys
and debts which they owe, and not having on
hand sufficient money to meet said demands,
within the true meaning of the act" &C., &C.
In submitting the schedule of his assets, the
petitioner says,
4 ;~&o L.
IL Co. on the 18th day of May 1854 / was
then perfectly solvent, and possessed property
and means over and above all my debts and
engagements of the value of tpo hundred and
fifty thousand dollars. have individually
sustained no losses of any considerable amount.
nor has the firm of Adams & Co. since entx 1f111
into said co-partnership, except in the b.
probation of the market valve of the prd
erty owned by me and them. The cause of
the failure of said firm is only the fact of being
called upon to redeem all its liabilities in cash
at once, which, from the nature of the business,
and the well recognized implied understanding
between depositors and banks, is not ex-
pected."
| The following is statement of the affairs of
the House, and of Mr.. Woods, individually,
made up from the schedules on file:
Balance of bank accounts against the
house, say....... ................. S275,000
| Balance OF certificates. 705,167
| Bills Of exchange Adams 81 Co. N,
York. .....;...................... 100000
| Liabilities ofthe country Offices estab-
lished at. .~..................... 100000
Total. ........................ ST. $50, l67
| Individual debts of /. C. Wood, on which
| judgments have been confessed. 49,. $3.50
| Grand total ofliabies. sl,636,7l7
| The following is the account of the assets of
the House:
Debts due by deposiors, who have over
| drawn their accounts, say. ........ 100000
| Negotiable notes and bills. ........... 275,796
| Notes in suit and over due, say....... $4,000