Weekly North Carolina standard. [volume] (Raleigh, N.C.) 1850-1858, 1857-10-21
NoRTH-c H-cARoIINA WED NEsDAY, OCTOBER 81, 1857

Of twenty five years standing, who weathered- the
storm Of 1887. The Bank Statement gave much 4
satisfaction as showing steady specie strength, not
wthstaDding the large drain Of the past week.
This drain, averaging half million Of dollars day,
absorbed only the assistance derived from the Cali
fornia packet, OF, Sept. g. and the Sub-Treasury-r
The drain was renewed yesterday, but was not SO
general, particularly in aid of the near country
banks, as last week The California packet Of Sept
90 and the Sub.Treasury, will probable again sup
ply nearly three millions of dollars in the course Of
the present week. The packet is about due. The 4
liquidation OF Bank loans last week reached four
million dollars, making with the previous week an
actual curtailnent hard on to six millions since the
promised erpaRsion of three millions. The result,
though alleged to have been necessary by the rapid
drawing down of the bank deposits, adds greatly to
the encouragement of the merchants, among whom
further large failures talked Of as likely to fol-
low the list presented this morning. .. ..
The amount of United States stock redeemed at
the Treasury Department yesterday was $3.50 O.56l,
OF which large amonnt was for New-York. The
whole amount thus far redeemed is about So 600 000
and there remains available under the law only about
$500 600 more" -r .. ...-.. . .
The distress in New York, Philadelphia, and else
where North, owing to the throwing out of employ
ment of the laboring classes is represented as al
ready great If the present state of things should
continue, who can estimate the suffering which must
befal these people during the long hard winter
months? Not less than twelve thousand persons in
New York City alone have been thrown out of en-
ployment. Those engaged in the manufacture and
sale of luxuries are suffering most. Four thousand
cigar makers, for example, have been suddenly de.
prved of work. We observe also that many of the
iron works have either suspended operations dis.
charged portion of their hands.
The Wilmington Journal of Wednesday saws:
Two more of the Banks of Charleston, S. C. sus-
pended on the 18th inst.-the 90 South Western Rail
Road Bank" and the Bank of South Carolina"
A considerable the remaining unsuspended
Banks was the consequence. The Bank of Charleston
kept its door open until P. NJ, three hours later
in the day than usual. in order TO accommodate The
bi-holGers. The total amount paid out by all the
unsuspendcd banks, is stated at $45,O 900. The fol.
lowing banks had not suspended at latest dates:
The Bank of Charleston, the State Bank. Planters
and Mechanics Bank, Union Bank, Farmers and
Exchange Bank, and the Peoples Bank all located
in Charleston.
We learn that telegraphic despatch was re-
ceivcd here this morning, from New York. stating
that twenty-five of the Banks Of that City suspended
Yesterday By the Constitution of New York. tbey
90 into liquidation forthwith.
We presume that some definite understanding will
be had between the Banks in this place to-day We
know there is strong feeling amongst portion of
the Bank officers and merchants in favor of suspen
| posed to it We are however, Of The opinion that
general suspension will be the inevitable result 1t
may not take place to day tomorrow. If the re.
ports from New York be confirmed there appears to
be no other alternative however much opposed to it
| the people at large may be.
| While on this subject, we had as we'll state that
seven thousand dollars of the Bank of Wilmington"
notes, sent down here by the Bank of yettevie,
| protested yesterday.
We have implicit confidence in all our banks and
d.,
! by sending us the amount of their Indebtedness.
We will give receipts with no little pleasure for bills
any of them. We will not hesitate to take even
| South Carolina wildcat bills"
The Charleston Mercury Of the 10Th says
"SUsPENTIoN THE BANK THE STATE.-Notice
was given on Saturday, by the Directors Of this
institution, that during the existing pressure, its
notes would not be redeemed in coin. However
much we may regret the necessity of this proceed
ing, it has not taken us by surprise. Causes en-
trely foreign to the operations of our Banks have
worked with a suddenness that scarcely left any
opportunity for successfully meeting them but the
immediate reasons for the suspension fully and
satisfactorily stated in the article below, which evil
IDENTIFY comes from one familiar with the subject.
The solvency of the Bank is, of course, unqueson.
able unless it be maintained that the State itself is
insolvent. But the Bank itself has been too often
and too jealousy scrunized by Legislative Com
mittees to allow a doubt that its assets amply
sufficient to meet all its liabilities"
| we Hhu lne ioHoWiHS auVertiSethent IN tue AheT-
cury OF the same date:
| CHARLESTON BANKs.-All Charleston Bank bills
will be taken at premium of fre per cent, at my
Dry Goods establishment, for all purchases of five
dollars and upwards; and the Goods will be sold as
cheap as they be had at any other House in
the city. WILLIAM ROCHESTER,,
| 304 King street.
We give below the latest accounts received from
various portions of the country ..
.. Honey Matters in Ne,c Orleans. ... F.
New ORLEANS, Oct. 12.-The failure of Messrs
Coming Co., of New York, will not affect the
Southern Bank There rumors this evening o.
some failures but they are not authenticated. Bus
ness is unsettled. .. ....
| ... More Bank Suspenssons.
New YORK, Oct 13.-Eight Banks have suspend
ed here to day, viz: the Marne the Pacific the New
York Exchange, the Merchants Exchange. the NORTH
River, the Citizen, the Irving and the Ocean.
| More Snspensions, dc. .'
New York, Oct. 13-E. Fish & Company, Brown
& Casey, merchants; also the Chatham and Bull
Head Banks have suspended.
The Marine Bank stopped by an injunction of it