The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-15
MINNESOTA.
THE EFFECT OF THE PANIC IN THE WEST.
IErom the ST. Paul Minneautian. Oct. 20

House rent has taken sudden great pitch downward
Houses formerly renting at sl2 month, are aainabe
ut s. and So More houses arc vacant now than
before the history Of St Paul. there two hun
dred now nnoccuped and likely to be until spring. and no
decrease of fifty per least in house must
take place. II is evident from the fact that many families
leaving for the South and East are positively offering their
houses and furniture 10 others for the taking OF
them until their RETURN unable 70 get good tenants at any
price.
At house in the suburbs at least dozen young
have called during the week, seeking places, where
formerly it almost impossible for family to get
"help." In curailng their expenditures many families
now do without hired help.
The wages of servant girls and in this city have
hitherto been very high 3d. $40 and $l2 month
given But to such extent have the ridiculous foes OF
fashion, dress and display corrupted this class that
all spent in 1nery and gewgaws, and nothing laid up for
rainy day Many Of that class will be thrown out
Of homes and good places and add 10 the distress which
from tho st. Paul Times
Tho financial community were ast0nnded yesterday to
hear that Messrs Borup Cakes bankers OF this CITY, had
made assignment 10 II. G. Sanford.
This firm is the oldest banking establishment in the city
and has only compelled succumb tho general
pressure, owing great losses incurred advances
made by them in the East to meet drafts Since tho 10th
OF September BorHp x Cakes have paid out $lS5 600
Borup Cakes ranked in st. Paul about rs high as
George Smith 4 Company have in Chicago and for the
business they transacted their capital the largest in
Minnesota Their suspension indicates the all but uni
vcrsal bankruptcy in Minnesota.
An effort il making 10 convene the Legislature, but
Legislature can enable man to pay his debts.
ITEMS OF THE TIMES.
The monetary crisis says tho Chicago Democrat, has
down the number Of cattle that will be received and
packed at this point TO less than one half. Indeed,
packers have made bets that tho number packed
here will exceed IA 600 900 head while the most
sangune do place tho figures higher than 900 head
On account Of the present low prices oang number OF
the cattle owners and drovcrs arc driving back their
stock the cornclds TO let them ten till next spring,
while the yards here full Of cattle which cannot find
purchasers except at runoos rates number OF droves
who made contracts deliver cattle have hat them
ed vi q
by them.
The Charlottesville Vrgina) advocate tho people
against the FIVE dollar notes OF the splaser concern OF
Stathan, OF Lynchburg; and against notes which have
recently gotten up upon what appears TO have been
the old plate used by the cklin Co % shnpaser bank
of that place and signed by Mr.. Parrot rs cashier.
The Charleston Mercury proposes ~ send contributions
OF bread aud -four fcm the Southern States 10 the suffer
ing poor Of the North. says
We have already touching evidences Of the worst
Of all the effects of commercial pressnrethe pressure
upon the poor-whieh threatens to visit the Northern
cities with terrible weight during the coming winter
when conaidcred how vastly every month adds to
the weight OF misery and despair, ia season which de-
MES the privilege Of work and that this terri
BILE effect has already developed itself on tho very brink
Of winter hardly imagine the extent OF the dis
during the ensuing months Can nothing be doneY
II VIC arc not rich in gold silver have
abundance Of bread and assured that contr
buttons Of -four breadstus that may reach this city,
will be forwarded 10 their destination free OF charge. We
that railroads. and those OF the neighhorng
States, will act in similar generous spirit II this sug
gcson Il responded TO- We have no he-t,ton N giving
the ASSURANCE that cohtfiOu''ons VIII reach
this city will be promptly taken Charge OF and forwarded
10 their destination.
The Governor Of Minnesota has declined TO call extra
session Of the Legislature To act with reference ~ the
financial pressure
The large cotton mill of the Blackstone Company, and
the large wooden mills Of Seagrave Co, have wholly
suspended operations this week. About two thousand
peoule arc thus thrown out OF employment, Tho only
mill now running Blackstone and Waterford villages,
r. L. is the wooden mill OF Mcssrs Bradford Taft The
other mills had been running short time Till this week
The syracuse Courier says that business the annals
is rcvyng Salt is being shipped IN quito large quantities.
greatly the relief Of the manufacturers. The water ~
st very high in the Oswcgo river, making navigation
the 0swcgo canal very difficult
The New Bedford Mercury, or the 10th Instant, says;
The rolling and nail mills Fall River, resumed operations
on Monday and the Masslsot -four mill Tuesday. The
Poeasse Qucquechan and Troy cotton mills arc stu run
ming also the Fall River pnt works and Mcssrs
Fadys wooden mill We believe "a intended 20 start tho
American print works som and trust tho soTpe Of tho
other manufacturing establishments will not bc Of long
duration.
The paper mill belonging 10 the Grccnvillc Manuactur
ing COMPANY situated nve miles from Greenviilc, y O.,
sold the I'd inst, FOR the sum Of - 655. Tho
manufacture Of PAPER will be discontinued
The circulation Of the fourteen chartered banks In
Canada Estimated nj sl3 0e4 3ls, Of which Al least
million In usually be found the United States side OF
the line. The specie il not estimated at much above
81 OcC 600.
The Little Rock tarkansas) Democrat says that the
treasury of Arkansas oyerHowing with gold and silver
The yarou funds enumerated that have their hun
dreds OF thousands OF the hard. The treasury has
bank notes nothing but specie In Arkansas; except
small old bank debt, does not owe cent aud has IN her
vornmcrt for two years without any further TAXATION
There banks in Arkansas and the taxes are paid IN
gold silver and tho state pays cut nothing but that
kind VI currency.