The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1857-10-05

far
southern ueehbors. they express conndence IN
their ability to maintain specie payments. 80,
The Nicaragua Transit Company, as the AmerI-
can Atlantic aud Pacific Canal Company Is popu.
Iarly called has made an assessment Oh % on "na'
are known a. the Canal rights. =,
We understand that the British Bank of Norfh
America has ordered gold from England and VIII
remit it's bills for collection instead OF selling them
at the present low rates. The amount oil goid 10
cover its operation will reach f5oo,ooo per month,
of which Gl0o.O0o has been ordered
The New York Journal of Commerce oil friu's
afternoon, says:
We regret to announce the suspension on ~ /,
Choutou Jr & Co. fur dealers, with large iiabili-
ties The house Of +. Choutou Jr., SAM IRA .o'.
dealers In iron. although composer Oh se'c,", Va
the same partners. IL different concern WIN "ia
tiuct interests and IL not affected by the above sun
pension The suspensipn of the house OF brnHl-
mel Roysters. tobacco dealers ~ also ahit"unceu'
This respectable firm were winding mp the'r antrs
preparatory to going out of busines but nave peeh
caught IN the storm. Messrs sWiit; hausoi" " w.
bankers also reported.
The same paper of Saturday afternoon, has the
following:
The pressure to-day is not greater than expected
nor the financial disasters altogether unexpected.
Some who have stood heretofore mistaken have
gone down but the most of the suspensions have
occurred among those who were not widely known.
Messrs T.. ". Clarke, Dodge Co. bankers and col
Letting agents, after making every possible ehurt
to sustain themselves have Mt last stopped pay
REQUIRED by their Boston house. J. W Clarke a. 20
but thew had also large connections With the west,
both with railroads and business firms, and have
become much Involved that they could not easily
,.iScntauglc themselves They have been very
much respected. with wide circle of friends and
will have much sympathy in their misfnrtunes.
We also notice with regret the suspension of
Messrs Gage. Datcr & Sloan, dry goods jobbers in
Chambers street, enjoying a fair credit, and of
Messrs l. Ban cr & Co., in the hosiery trade.
The failure of Messrs. Powell, RamsdeIl & Co =, of
Newburg has been followed by the suspension of
the Powell Bank of that city.
Foreign Exchange continues inactive, with
considerable quantity floating upon the market
aud but few buyers. Bills on London. drawn
against produce have been sacrificed at 90a95 per
cent but bankers rates are quoted at locales.
The Tribune of Saturday gives list of the notes
thrown out of the banks there:
The following Banks are thrown out to-day: The
Farmers Bank and Hudson River Rank. at IIud-
son; Old Saratoga Bank, n. Y; Thompson Bank.
Conn.,; Phillipsbnrg Bank, n. j.; Bass River Bank
Mass; and Stark Bank Vt. Many of the uncurrent
money dealers have been unwilling to purchase
Eastern currency to-day, and buy State only to
moderate extent at to per cent. discount. The
American Exchange ard Metropolitan Banks how
ever, continue to receive usual at lilo for Eas-
term and 4 per cent. for State. from their dealers
and correspondent Banks, and We are assured they
will continue to receive as long as the New York
Banks sustain specie payments
The Farmers and Citizens Bank of Williams
burg L. l.. which suspended in consequence Of
run on Thursday, had 100000 deposit, and
about $217 900 discounted paper in its possession.
S225oO0 of the latter is considered perfectly good.
Depositors have been assured that they will not
lose in the slightest degree, although they may
have to wait a short time for their money. The
circulation of the Bank 100000. and as this is
secured by State stocks, the bl-holders cannot
suffer. 1t is believed that the Bank will very
redeem all its circulation. dollar for dollar.
MARYLAND.
The Baltimore Patriot of Saturday, learns the
following:
Our banks are discounting only to a limited ex-
tent, and disposed to restrict their lines much
possible-hence mercantile accommodations are
less than generally supposed.
As much, however, is being done as can be with
prudence and due regard to the future. Quite
large amount of good business paper is offering
the street, but capitalists being back wardnot dis.
posed at present to invest largely-negotiation
are consequently, restricted. Good to first class
notes may be quoted nominally at to per cent.
a month-very little under the highest named
figure and difficult to sell at that Second class
meets with but little consideration.
Money on call ranges from 3 to ? per cent.
Exchange on the North has materially advanced.
and is now selling at to 10 per cent premium
We quote Virginia bank notes (old) at 8 q per
cent. discount, and other descriptions at a per
cent. discount. North Carolina difficult of sale
at to and per cent. discount. Ohio and West
u bdhh uOtCo diV NV oclLilIS W
extent.
Specie in demand Cold has advanced, and sells
to-day at to 10 per cent. premium. to amounts
&c. Silver is also in pressing request, and some
banks have been selling it in small sums to meet
exigencies, at 1 to per cent. premium. This ad
vance in price is caused by an absolute necessity
for small change in the way of convenience to pay
laborers and others.
The banks. we learn, are obtaining much OF it as
they possibly can to accommodate their customers
Great difficulty aud much distress exists amongst
the poorer classes Many of them are forced to
sacrifice, comparatively speaking. much of their
earnings, in order to procure small change, use
the money given for services rendered.
IN PENNSYLVANIA.
The Philadelphia Ledger of Saturday. says:
Monetary affairs here more quiet. but money
is as hard to command and if there is less
excitement, it is only because there is lessened eff
fort to resist the seemingly overwhelming difficult
ties that threaten to whclm in ruin many of our
active, though unwiSely extended, business men,
our banks are acting with more uniformity. and ii
Is hoped Il good understanding may be established
among them by the time the legislature goes into
session Coin is already fast hiding Itself from
view. The difference between coin and paper is
still a per cent. with a moderate business at
these rates.
Among the Pennsylvania Banks that have not
suspended specie payments the Bank of Pitts
burg, the iIonesdae Bank, the Wyoming Bank and
the new Bank of Catasqua.
FORWARDING CROPS TO MARKET.
The Chicago Tribune of thu latest date states
that several of the leading banks Of that city have
entered into an arrangement TO advance currency
for the purchase Of grain, taking the bills of lad
ing in the name of The bank making the advance
aud selling the grain on account u the home pur-
chaser The Tribune says:
The nhj 'ct OF this arrangement is, of course. to
move the crop eastward Tor the purpose OF max
ing exchange on New York cheaper and thus
enabling debtors here to meet their liabilities at
the FAST without rninOuS sacrifice The banks
here have lost some S!oO,OOU or more by c0nsign-
ing grain to irresponsible and dishonest at
the Fast. who instead of accounting for the pro-
ceeds from its sale. have paid their own debts with
the money. thus compelling Chicago, in the pre-
sent financial difficulties, TO shoulder both her own
indebtedness and portion of that of the East
It is for the avoidance of this sort of swindng that
Mr. Richmond and Mr. Hcvey, gentlemen of great
wealth and sterling integrity, have been selected
as the general consignees of all the banks in the
arrangement.
1t is of vital Importance to the West that the new
crop should be Immediately sent forward, only
about six weeks-two months at mOst-of lake
navigation being left, and trust that the
movement above noticed of the banks will be
extensive enough TO produce marked and per-
mancnt change for the better in our financial at
fairs.
SALE OF Coal LASDS.-Mr. Vim. D. Pate sold last
week, to Messrs. Hunter & Selden, of Eastern vir-
pinia three tracts of camel coal land stusted on