The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1856-11-21

Our Lancaster Osszsspsndenee.
LAS0AsrER, Nov. Is, 1855.
Isyivol of Goo. Vice, Of Nrsinia-RI Confer
enes sciA Mr.. BuchanGs at WheasiGnd- The
Policy Of The NsW Administration- 71e Breat
Of the Lancaster Bank, &C., &c.
Mr.. Buchansns home friends we're thrown into q
great state Of excitement yesterday by the announce
ment Of tine arrival Of VIginia's freeating, Union
dissolviDg Governor, II. A. Wise. On his arrival,
be immediately left for Whestland where he remain
ed over night to discuss with the Sage Of Wheatand
the price of good, healthy Virginia buck nggers, dt
to work the virgin soil OF Kansas. What was the re-
suit Of their conference has as yet been kept most
profound secret 1.-THE fienas Of the Presdentelect
who hope he will aid to make Kansas Free are on the
anxious bench to know what demands Gov. Wise
had to make, and what assurances had to be given
TO satisfy his eboshin Excelcncy. One OF the main
objects Of Gov Wses visit u supposed, however, to
be, who shall 90 into the Cabinet from the Old Do
minion. still think it will be Gov. Floyd, unless
Gov. Wise should say no.
The following editorial from the home organ, the
lntegtncer, OF this morning. may be taken - being
"by authority" and, as such, OF Interest,"
Nh. BUCAANANs ADMINISTRATION There 10 Q great deal
OF necessary speculation smong the oppositon journals
just now, 70 the new LAbine. and The policy OF ae
Incoming oL,,nstrston. To all Of hese GENT amen We
longer, aud ytu will all about 1t. Ia the mean
time, have fepublished portion Of Mr. Buchanans
form .oe ices o. be cou, &c he intends 70 pursue One
thing IL cerain-Nr will be Tho President himself-he
w,el, h'r own Ga netand regardless Of frisl or
foe, vii put his oot on every scheme which does not
look 70 lhe honor gloy pospey and perp uty Of the
Union HIS administrators, doubt NOT, with be emf.
pent1y servative al its actions and policy, aad
perfect with his great pontlcai knowledge
Tpe slater manship and caution disposition the speed
sIops about the Cab net =, ali fudge Mr. B. nss never
a ilvin On M auht GA
keeps is own counses and when his selections are
once made, IL ai be found that hls CAoAet is not
unit but ,hst II u also . Union Cabinet
TIE country e fortunate IN having such able and
exItrh need statesman ut the h. I'm nj this poraut pc
Rcd Of our history snc We feet condden-ayc tbs whole
naoo IL ID COZ hc.nt-hst he just the for pre-
Gel crss
The home organ also copies an article aprovngly
from he Cincinnati Enquirer, from wAicn the iol
lowing Is extracted -
He will recogn.z ne and give wise direction 70 that
natural impulse Of ,se democracy winch IN the
tension Of tsrnoy the elements OF our power
and II safety and refpetaty Of our Union
What is meant by the above is more than an
able ~ say-60es It mean the extension OF our ter
ritoiy' in the shape OF Cuba, as "the true ele-
mens Of our power and the safety and perpetuity of
our UniOnT
On Saturday last rumoa circulated affecting the
credit Of the Lancaster Bank, and small run was
made Oh chat DAY and yesterday, (M0nday.) 1t was
generally supposed yesterday, after new Board of
Directors were elected, that the bank would 20 on,
but TINS morning the following was posted on the
door -
Bak Ard It's nues having aeen refused by the banks OF
phifsde phia, The officers deem impossible the
abues Of The bank as they are presented and there
tore compelled 70 close the bank.
The Lote holders advised NOT 10 sacrifice the same,
the sfrets OF the bk supposed 70 sufficient
meet he cuaiion And de posts statement however,
will be The public the ON elect can
make examination Of the coDoitia n Of the bank
LScAtnR NV Is 1858. II RAfHv0N, Cashier.
This notice left no doubt as to the condition the
bank sas in, and from some vague rumors floating
about the streets. and from what is Known there is
10 doubt about il being "bad break" The impress
sion Is that the whole of the capital $403 900, IL
sunk" IN bad debts. The liabilities Of the bank
are said TO be about 100000 in circulation, aud
$225 900 OF deposits The bank was re-chartered in
ls49, and the stockh ders joindy liable for all
the notes Issued by the bank There can therefore,
be no hes To the holders OF the notes OF the bauk,
which L. will he well tor them to remember. and not
sell at sacrifice. The folio wing is the section OF
the charter making the stockholders liable =
eco 10 The stockholders Of the said Lancaster Bank
shall be joiruy sele 70 tho creditors OF bank being
note hoceys IN their individual capacity, tho
al the Botes tsueo, In not exceeding tue
par value OF stocs POSSE s,ed NJ them
sptcuv.Iy, and TIE msnner OF enforcing such liability
snail be a. iolo ss IL case tho bank aba violate ms
provisions Of any applicable 10 IT. - forfeit it5
charter, OF becomes nsolvent falling circu Instances by
reason 81 The Encouragement OF It's affairs, and rs
p.led 10 make sssignmelt under the provisions
Of This act under the provisions Of the act Of
WeNtn hsrcD, one tn0unauo eigut hundred ana forty
two spuied IAN act to provide for the resumption Of
specie pay mems BY the banss," the asignses % ~
pointed shsl proceed TO make fair AID equitable ap.
praise OF the Asssts Of said bank OF descrp
ton, at their cash value, and also " make list OF all
The deb,s due BY the pssd bank and n h shall appear
sets are Insufficient 70 redeem the notes In cir.
cuaop, tue stockholders Of the said bank shall be La
bic 70 make good such deficiency In proportion the
pective amounts Of stock held by Zach at the time
,uch assignment lie made Provided toa, their JOINT la
bihy shall In no csse exceed the amount Of the par
value OF their stock
The following are also important provisions in the
~ The said aseEnee shall pay ous OF The ssscts
and property of the bank iu assis nment
sne dsbu and liabilities IN the following order
Ftrst pote holders.
Second 6epositors
rhud, oil other creditors except stockholders, who
Sc. rs toe uso vepcy Of the sail bank be wiliuIly
Suduep the directors 81 the said bank by whose
or omission, the nso vepcy WAS In Whole or 10 part ooca
liable 10 The creditors Of the said bank Tor his
81 'hsre Of their respective losses tho proportion 70 be
Ascersnct by dividing tho whole loss amongst tho whole
number Of directors Liable for its Reimbursement
Ac. ~ Every insolvency Of said bank shall DO deemed
on ~ IN e' . W sua t % Al apa upon ny''s
gsnsrsy with tue same and diligence tina. agents
receiving comps nsasion for their services are bound by
With these stringent provisions In the charter OF
the bank. tere IL little curiosity 70 know how the
"breakn was brought aoout, and there will be more
with readers abroad wheo they read the above ex.
almost sole manager and director Of the Affairs OF
the bank. The stockholders who are ruined-who
have lost nearly all they had In the world widows
ard orphans who have lost the little left them Ia
Lancaster Bank stock. as "safe Twill remember him
In their povsrty-all gone through the recklessness
OF one man.
l have no doubt but that the directors win make
q full expose and lay the whole OF this mans con-
bection with the bank before the public. They owe
il 70 themselves, the stockholders and the public.
The Condition OF Virginia.
from the kehmCns woig Nov rs
We observe, from the Charlottesville adrocats
that some q the farmers Of Aloemarle are com
planning heavily of tue increased value put upon
their lands by the This increased vAlus-
tion, Ms they say. viii necessarily involve "a iu-
crease in the amount OF taxes. This, In all proba-
bity, vii be the case; but we do not see how we
can help ourselves The per ccnfam II always 80
liked ~ 70 raise certain amount for the s.a a
Treasury. A log valuation. in tle esens financial
Hx Tim Afuln ItrxnS