, 1855-03-17

days paper 70 give place to the news European Con-
gressonal and general which has been afforded u
for the benefit Of our reaer-not through the agency
Of the mail but will elsewhere be seen by private
favor and means Of the express. And would here
beg leave to acknowledge our sincere thanks 70 ia.
friends, for the privilege Of a second band side
glance at the late papers, kindly intended for by
which we are enabled to make acompation VI the
readers abroad in the territory.
From Oregon, there is no news Of importance, other
than general complaint Of business being dull money
scarce &c. The friends of the respective prominent
democratic candidates for the nomination Of delegate
to congress, are waxing somewhat warm. and afford
evidence that the contest in the convention will rpen
into heat and bitterness. General Lane, the present
delegate it is Aaid took his departure from New York
for San Francisco the steamer OF the 20th Of Feb
ruary. II this be SO, il ssupposed he will reach home
on the next trip Of the Columbia from that city to Or
egon We hope that such nomination will be made
a. will prove satisfactory to the party generally
whom they can not only unite rpcu, but elect.
The California papers Of March st bring ntelli,
gence Of an unprecedented panic in the exchange and
money circles In San Francisco and Sacramento, in
consequence Of the suspension Of the house
Of Page, Bacon l. Co, followed by Adams & Co,
Wells, Fargo 4 Co.. and other banking houses. When
the news first came Of the failure Of Page Bacon Of
81. Louis, run commenced at on Page, Bacon
Co., which was kept up all that day, and over four
hundred thousand was withdrawn from the bank
The next day the ceased and matters apparently
were moving on as usual till the morning OF the 2?d,
when their bank was not opened at the usual hour,
and shortly after handbls sent all over town.
nounong that they must suspend 1t seems that quite
deep had been going all day, till their specie
was reduced to less than hundred thousand dol
lars and they feared to keep open any longer Owing
to the fact that ii holiday, but lille business
was done that day; yet it seems that two hun
dred thousand dollars was drawn out during the day
from Adams L Co. That evening the steamer arrived
with the news that Page Bacon Co.'s drafts had all
been paid and IT then supposed that the excite
ment and tEOnble was over.
But the next morning Adams & Co. announced that
they too must suspend and shortly after Wells Fargo
4 Co. followed suit.
Robinsons Savings Bank and DR.. wrght's Miners
Bank, did the same, and then came general run on
al that remained open. The greatest run was upon
Drexel, Sather Church. B. Davidson, and Lucas,
Turner Co. Tallant 4 Wilde and Sanders Bren-
ham suffered little from the panic, and paid of their
depOsitors. Palmer, Cook Co. were not affected by
the in the least but paid every claim presented
The creditors Of Page, Bacon Co. held meeting
on Sunday last and considered plan by which that
house may be enabled to resume payment. The bank
exhibits assets and above liabilities Of sS6s s6s;
but Is proper to state that upwards of 81 100000
In New York and ST. Louis, whereas the Liabilities Of
the concern are mostly due in California. 1t was pro
posed that depositO to the amount Of four hundred
thousand dollars should receive evidences Of indebted
ness, bearing interest at the rate Of per cent per
month, and payable in two four, six and eight months
and 1t was thought that II deposters accepted this pro
position, the house would he enabled TO go on. Mer-
ehants and others Affixed their names to bond in the
sum Of about one million Of dollars guaranteeing the
payment Of these deposits and it is believed that
the house will be enabled TO resume business in the
course Of Eve or SIX days.
MessEs. Wells, Fargo Co. resumed payment on
Tuesday, and so far all demands have been promptly
paid.
Adams Co. have fled petition for insolvency
and their schedule Of assets and liabilities show bal
ance the right side Of about 100000; assets 81,
ela 1sS liabilities, 81 6367l7 Mr. Woods has given
al his private property, estimated at $3.50 OOO and
this goes to make up the total Of the assets
We understand that the express business Of Adams
d Co. viii be carried on without any interruption.
Ths joint convention Of the California Legislature for
the election Of United States Senator had been dis
solved, and there will probably be Senator elected
By the present legislature.
The arst announcement Of the failure or suspension
ofPage, Bacon Co, was made known BY their house
n s. Louis, on the 18th Of January. and has been
The in San Francisco and elsewhere in California,
general run has been commenced on other banking
houses in most Of the cities Of the Atlantic states. In