The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1857-10-17
New York Oct 10

Besides ttc GIoc,rs Bank suspension there
were u few unimpor,ant failures Of mer-
: chants.
There is rumor that party OF business
men have gone To Albany To urge the Gov
ernnr To cal AN extra SESSION Of the legs
lature.
/ At the clearing house to-day it was re-
solved 10 maintain specie payment at all
: hazards.
/ The failure Of the Grocers' Bank created
no excitement. The other banks will con-
/ tue To receive its bills on deposit There
was renewal this morning Of tn" run on
( the Brooklyn Savings Bank, but all demands
were promptly met.
/ There was also a Stint run on the Marine
Bank.
/ New York, Oct. l3.
/ To-day has been very exciting one in
! financinl matters. Up to two O'Clock fifteen
city Banks had susp, nd,d. The following
/ is a revised list: Bank OF New York, Arti-
sans, ST Nicholas, Chatham. OCEAN. Market,
! But, hers Il Dtnvor>' Merchants Exchange,
/ Irving. CitiZvu>, Tradesmar. Bulls Head
: North River, aud Marine. Wall Street, at
two o'c'ock. was crowded with an anxious
mass of people. The steps of all the banks
/ were also blocked up by people forcing their
way into the banks.
/ At the American Exchange, David Lea
witt addressed the crowd, assuring them
tina, all the banks would pay all to the last
dollar.
The following are. in substance. the off
cial resolutions passed at the meeting OF the
Bank Presidents:
That the Banks Of \. y. suspend specie
payment, a. far a. paying IT over their cOun-
ter is concerned, but make regular exchang-
3 -
House.
That n committee be appointed to confer
with the Governor OF the State in reference
to calling an extra session Of the .egi lature
, 10 legal,Ze the suspension.
That such committee leave for Albany at
II clock Tomorrow.
The whole number suspended to-day, with
those that were included III the returns Of
yesterday, is sixteen.
New York, Oct. -.
There i a general run on the Wall street
hanks aud intense excitement in the streets
Policemen are stationed at many Of the
banks TO preserve order.
New York, Oct II.
The aspects Of affairs - decidedly more
cheering. Merchants, bankers, e., look
upon the bank suspensions a. a relief.
Wall street was comparatively quiet to-
day. There has b, en- moderate run an
the various savings banks, but all dema nd>
were promptly met All the Institutions ia
tiii- city. hut three n Brooklyn were obiIg-
Ell t. close their doors At asst ac, cunts
the officers of the Nrw York savings banks
were holding consultations on thcIr future
course. They propose, it Is said, to pay ten
per cent. On deposits
The Bruk OF America and Chemical Bank
+
i sad. i dong the same, and L j. believed
that other banks viii follow suit. \ partial
statement of the specie paid yesterday Icy
our city banks, not including tie savings
jauk>, foot up nearly tw" hi lions.
\ notice wa posted to-day at the various
banks which are enabled To do bu>fiu~-,
starIrg that business viii Toe continued H.
heretofore, excepting. the PAWN, OF specie.
tHcCk, VIII lie received On deposit Ia the
y ,yucnt OF notes, ard bans notes vii! be
,aii and received usual
Mary al the baI H. have still a large
amnunr OF specie Oh hand. Gold Is selling
by tie brokers at and per cent. premium
Trenton, y. j., Oct "A
The suspension OF the banks here proGuc-
ed TO excitement, and there favorable
iec!u. towards them. They accomm ,'latc
the pubic with specie for change. There
i some talk about c"uvening tie Le.i~a-
turc To- -rp'al or modify the stringent iaw
against bank suspensions.
Boston, Oct. II.
The suspension o. the bank, dii no;
ate much I,xcIrcmcdt. Il is probable the
suspension VIII extend throughout New
En.Ia q wi u few RECEPTIONS The Banks
of New Bedford, Fair Haven, Worcester, and
uther principal towns have suspended At
: anal I ii
cie through the day. The Boston Banks
viii pay their balance at the clearing house.
Petersburg, Va, Oct. II.
The Farmers, Bank OF Petersburg has
su>p, nded. but the Bark OF Virginia and the
Exchange Bank are still paying specie.
New Orleans, Oct H.
The ranch mint has pu cha ed from the
banks 81, uvu,OUo of silver bullion, paying
gold atoi'Ing some relief
The Union Bark has suspended.
There j. heavy run Oh all fire.; bar ks
Great excitement.
Richmond, Va, Oct. -.
The Farmers and Exchange banks here
suSp, nded yesterday. The Bank of Virgin
Ia still holds out
CT cinnati. Oct. Is.
Money matters are quite unsettled in con
elsewhere. Some banking houses refused
to take the notes of suspended tanks. while /
others take the notes OF all good banks; .x-
change nominal at ) per cent. IL is though,
that kentucky, Indiana and Ohio banks will /
notsus pend now.
ST. Louis, Oct. 10
There was heavy run OH the Bank Of the !
State of Missouri this morning. Opinions !
conflict as TO the bank s ability TO hoId out {; |
otherwise the city is quiet
Nashville Oct. Is.
The Bank Of Tennessee has Suspended
The legislature Is considering resolution To
legalIZe a general suspension; actions doubt |
ful. The Planters and Union Banks will /
hold out to the Iast unless authorized TO /
suspend.
Philadelphia, Oct. Is.
The disposition mani, sted Ivy the banks !
not 10 accept the provision of the late act OF
the legislature, has east additional gloom
over the business community.
Boston, Oct. Is.
An adjourned meeting was held day for |
the purpose of arranging plans for facli'iat-
in business at the cleaning house, and it |
was proposed to discount literally on I'M
doubted paper, SO as IL furnish relief to bu-
siness men VINO are beginning TO bend be-
meath The pressure.
We could give a column or two more Of .
the same sort, but these are sufficient to
show which way the wind blows. gene
raj sUspen ion at the east, it is believed, will
haye a tendency 10 relieve matters by ena-
bling the banks to extend their discounts.
Time will soon show-at least, it is the ee-
neral belief affairs have now nearly reached
the bottom.