Daily American organ. [volume] (Washington, D.C.) 1854-1856, 1855-10-25
correspondence.


INV OhhY ON,s zoB 1000.
Much uneasiness Is ftlt At Erescnt among our
capitalists in relation 10 the financial condtion Of
England and France, suspension Of specie pay
ments having been talked Of by the bAuk directors
Of those countries. This report was brought by
the last steamer and IN increased tghtness in our
money market has been manifested daily since the
arrival, until now, when II may be remarked that
there is real panic in Wall street. Large sales Of
stocks have been made, and in every instance at a
considerable decline. Nearly 10000 shares Of
Erie Railroad were sold yesterday, going as low as
SO IA, TALL Of "a since last Friday. Virginia
6s have also touched 96 7-6, very low figure, con-
sidering the standing Of these securities. The
bank statement of the morning Is far more fayora-
BILE than was expected. Tho following are the
figures increase in loans and discounts, $43, 900 ;
increase in Specie 81 1922 S45 increase in circu-
lation, $48,000; increase in deposites ~ 236, 744
The total OF specie at present in our bank vaults 10
u triae over $l2,o00,000, against $l7,000,0O0,
six months ago. If unfavorable news ~ received
by the steamer now due, there win DO serious
time in money matters, and . general curtailment
in the discount line Of our banks viii necessarily
take place. The panic at the stock board con-
tinues to-day, and there is further depreciation
in all descriptions of stock, Of y 2 per cent.
\ Another fraudulent insurance company has just
exploded in this city, The Tontine Insurance Com
pany started some time since with bona tide cap
ital Of 100000 as stated on affidavit by its OIL
GERS Tie Comptroller Of the State having had
an inkling that there was something wrong In refer
ence 10 this company, instituted an investigation
and behold there is nothing but shadow, the sub
stance having all departed. The way the thing
was maraged was after this fashion: The officers
20 to some capitalist and offer large bonus for
the loan of 5000 900 for two or three days. to de-
posite in the bank. when an affidavit Is made that
the capital Of the company Is all paid In and they
are ready to commence business. igsq lSaiss ai HI
An advertisement to this effect ID Immediately
made public, and customers found to insure their
property In abundance. The next move is topay
Off this capital to- the lender, md then they are
doing business without any responsibility what
ever. The consequence must be, Of courses that
If the company sustains any loss, they have no
funds TO pay it with, and the insured Ia the suffer-
err Much credit is due to the Comptroller for the
active part he has taken in thus breaking up these
rotten concerns, this being the second within few
months, and there is ono more yet to be inyesti-
gated, and which is thought to be equally as I'M
sound .t 3 ss si RI
The grand jury closed their work last week, and,
in their investigations have made some most as
founding disclosures The presentment offered TO
the court was not received by the Recorder, but
was handed over to the District Attorney, and
through him, it Is -ascertained that the following
persons were indicted i: b. w. Purdy, Commits
sioner Of Repairs and Supplies; Mr.. Ebling, Com
missioner OF Streets and Lamps; +. NJ. Curry,
Councilman Of Fifty second District and ex-Coun-
Gilman Henry Beakley. The charges against all of
these officials Is, making too free with the funds Of
the city, and thereby lining their own pockets, to
the detriment Of the taxpayers. Great complaints
have been made by our citizens on account OF the
hqh rate of taxes but ID had never been suspected
that men occupying such responsible positions as
those mentioned above would stoop' TO do dis
honorable act. The sequel no doubt will prove
that we have not been as careful in making nomi-
nations az we ought to have been. Let US hope
that a lesson has been learned, although late in
the day. - ser8 sft b z
The Herrick trial has commenced, but very little
progress has been made, the first day being almost
entirely consumed in securing a5ury. sf9te
A cowhiding affair took place In Wall street
YESTERDAY, much to the amusement OF the bulls
and bears of that street. who needed something
of the kind to keep up their dropping spirits
The quarrel arose from some. misunderstanding.
The parties, .Casson and Dillon, were bound over
TO appear when called upon stev esa
= Very large receipts Of produce are daily arri-
wing BY the Hudson river steamers. Yesterday
81 900 bbls Of floor, 100000 bushels Of wheat,
10000 bushels Of corn, ], 900 ,bbls. OF pork, by
steamers. and 8 900 bbls Of -four by Erie railroad,
were landed at our docks. So that there Is not
much danger Of starving at present = ls
have been much pleased In reading the
% Old Home stead, = new novel Just published by
Bunce & Brothers, and written by the popular an.
thoresss, Mrs. Ann s. Stephens think this novel
will be more popular than g Fashion and Famine"
by the same writer, which reached the large sale
of 40, 900 copies In very short time after los pub
bcatlon The scenes of the odd Homestead are
laid in this city and vicinity. Her pictures Of coun
try life are admirably narrated, and the book Is Of
thrilling interest throughout, and the reader viii
be 10th TO lay II aside until be reaches tho last
pageo think this is her second effort at novel
writing, but she has long been known 10 the public
as an uncommonly good writer, and has contri-
buted TO all Of our popular magazines, and has
done much TO add to their popularity.
The Free Lovers held meeting last evening
at their rooms, 556 Broadway, without being mo-
lested Mr. Brisbane Is determined to make an
effort to clear his skirts Of any improper conduct
In the free love business, and viii soon bring the
police 10 trial for Interfering with the meeting and
making the arrests Of iu leaders.
siiyaals 0rIcRoS.