The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1855-02-14

once todsy, were ~ follows:-
necsavec sl2s soo 90
Paid for Assay Ones, In bars mostly ........ oo,'2a3 10
bsiance. .4,31a,339 VI
The steamship Prometheus, at New Orleans from
Nicaragua, brings seven days later nov from Call.
fornia. The steamship Northern Ligh. left Mica.
rsgua on the 9Th instant for this port, with $8OO, 900
In specie en- freight. The news from California La
not Of much importance. No change had taken
place In business matters or In mining sincs the de-.
paItuIe Of the previous steamer.
The announcement made In our columns q few
dBys since, Of tie resumption Of Messrs. Page &
Bacon, Of g.. Louis, on the 18th inst, In connemed by
the correspondence published In yesterday HERALD
between Mr.. Bacon and Mr.. Aspinwall. That cor.
respondence In charactsrstic Of the two gentlem IN
from within II emanAted, and will be read With salts.
faction by the friends Of all the parties interested.
The early resumption Of Page & Bacon pisces In Q
more ooious light the causes which led to their sus
per sicn, and every high minded, honorable business
man In this or any otter community, must coodemn
d stiil stronger terms, the narrow, contracted policy
Of lose who ~unfortu a,ely bad tho pc yer to arrest
the active operations Of one o. the most extensive
and weaitt lest banking houses IN the country. The
eerIy resumption of Messrr. Page Il Bacon must
confound those who we're the direct Gauss OF their
Temporary Suspension. A rene val OF active bust.
pess by a house 30 extensively engaged ia banking,
Ia 20 ordinary matter, and tho amount OF cap.tal re-
quired Ia the face Of fuch an interruption OF credit,
Is what worry few firms could command. That they are
able 70 raise The necessary means, IL the best evidence
In the world OF their strength and sotidi,y, AMI ths
unlimited confidence placed In them by N ,se con.
nected with them 10 commercial matters. The firm
Of Page d Bacon for many years has beon one Of
the most prominent banking houses Of the Wet,
aud in st. Louis, where banking is seriously 70.
s'ricted by the Legislature. they have furnished IA.
ciliti;s to the commercial classes which have greatly
accelerated the growth Of that thriving city.
After several years Of prosperity and ~success, dor
ing which the firm accumulated an immense capital,
the house became involved In the construction OF a
rail- cad connecting Bt. Louis with Cincinnati, OF
vast importance 10 both cities and the intervening
country. In taking hold Of this enterprise Page 4
Bacon had In view more the Advancement aud pros
peri'y Of the city Of st. Louis than thcir Individual
profit, and they would have carried the r plans
through successfully but foi the recent sudden ard
ltvere collapse in public credit and the utter IN
availability of the securities tskeu In rsturn for
money invested. The cspitai involved be ;ane,
therefore, inactive snd seriously restricted the legi-
innate operations Of tho house.
Apprebending difficulty resulting from such en-
tapgtmtDts, the senio. partner, Mr.. Page, depart.
cd for Ssn Francisco last fall. for the purpose Of
providing the necessary means 20 met all their en-.
ggtmenis at maturity; and his efr,r.s would have
been successful butifor the obstacles encountered in q
quarter m unex 20 ,ted a they were at the time u1.
svoidable. Airan gements had bscn mai 10 Cali.
forDis for the remittance Of gold to IN extent SUN
Gent 10 place the 6'm In TIE easiest circumstances.
These remittsnces have coma 10 hand, and although
too late TO save the house from suspension, thcy
come In time TO ensure q resumption, without delay
enough to entail loss upon any creditor. With the
old the house hsd q right 70 expect, ard which hid
In fact been promised by It's correspondents, q.
would never have faltertd In rs Obligations, bat, on
the contrary, have sustained itself amidst all the
surrounding Disasters. But about thirty days have
elspsed sine the community were astcuni
cd, rot 90 much BY the annouHctmsrt Of the
suspension Of Page q Bacon, a. BY an expoee
OF the t~reachery and abuse Of confidence on
the part OF those causing that suspension.
Ia IL at short time the resources a. the house hsye
been made available, In the face OF al the d rlc1lties
end smbsrrsasmenfs growing on. of . temporary
suspension, and on the 15th inst. . fall rssnmp loa
takes place. M. II. d. Bacon lett the city on sa
turdsy for 81. Louis, fortiaed WITH The means %
mte. every demand against tie hrn, upos pre.cn-
iation. We have no idea that he viii b. called upon
10 pay a large pss cent Of al claims, iof The Shatao-
ter ard credit CT the house have only been shakeo,
Lot destroyed, particularly where tbs patn. hJups
Ia COATED. Those who Pave toiled Tor years az he
rugged paths Of mr antiie srsdit-who have passsd
s~'seplss nights IN dsv.isg ~sys AMI means % fub
al Oil pceurisry promlsss-vho have m rly, afsr
~wi'bsssir the wreck o. maay who have o6murncsd
Iie with ishsr prospects. reached re bsigh. Of con
nefclai property, ard see In their de liaisg yrzEs
peace ard plsp'y, via q sufncsscy 0, the vDsld's
gCcts 20 hsfnsslves AID iho.s lear and deart,
ntn -thrs vso ave been ppon the ere Of 'eai'r
ing suoh q result 70 all ihrir lsbsrs. CA tel What u
4 10 fsi by tse t~rsashsy q . false fhsrt, and "
have the cop i7st raised 70 The lips ssshsa sway b.
tfos VINO should have s~ussxsssi, guided. ara s'ss
dfdis cousss. 1aosr who hy-s expsT.sn<sa sas !
j,ysnsz car s.npafbtse sish kssar. psgs 4 "a
ot s-s elcsy "a tasu ssesye ftys 10 ri, y ~