The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-10
TIE FINANCIAL PRESSURE.
State Of Things Throughout tn,
Country.
Meetings Of Merchants in Philadelphia
and st. Louis.
EFFECT OF THE REVULsi0N IN THE METROPOLIS
Condition of the Laboriug Classes
and tho Price Of Flour.

SUSPENSIONS AND FAILURES.
III Nun ON THE PARK AND B0WERY BANKS,
&c. &c. 6cs
ME PENNSYLVANIA LEGISLATURES.
yAeeAa1 or THA sRATE BHL-A RBLIRF BILL M
P0RxHD IN rHB HOUBJ.
HARnmula, Pa, Oct 8, 1857.
snyArE-BvEuNa SESSION.
mo Senate passed 70 second reading The nrss bnl
reported by the Select Committee, with thefeoond and
nird sections OF Mr. Browns bill The bth section. The
haeS limits bank dividends to SIX per cent until the acou
nuou Of The reserved fund not less than 20 per oen
d ne capital stock; after that the dividends not to exceed
nms per oent and all 60 the State, and the
sved fund 70 be invested in loans security for the
nempbou Of notes.
HARRISBURG, O,L Q, 1857.
ne Senate met vt O'Clock.
NJ WNGm presented . resolution providing for the
sng OF 5000 copies Of the annual report Of the Auditor
Generals Statement Of the condition OF the banks the
IRA discount day Of November next for the use Of Sena
tsp u the nsxt session. Adopted
ne Speaker presented communication nom the Phlla
dssph Board Of Trade for tho enactment Of law giving
ysnsf 70 the banks and tho people.
Asms Browne, Ingram and Wright presented petitions
bum the merchants, manufacturers and mechanics OF
PhDadelpha praying for relief.
I'M No. l. CONCERNING the banks, was taken up on third
reading.
M sr1AuB moved 10 90 into Oom mit.ee OF the whole
~ The purpose of striking out the entire bill and nser
hs ono Of three sections submitted by him ~ = subsl..
mo nYst section provides FOR suspension OF specie pay
nenD I'll lat Of February 1885, aud requires the payment
ef spoCe for their five dollar notes me second section
poydes for stay Of execution for year. The third
rPeas the forty seventh section OF the act Of April 16,
mo motion prevailed ard was discussed at length by
AssHs s6sub, Kenger raggart; Wosh wilkins, Fnney,
me Substitute WAS amended by substituting the ART
seoon Of the bill passed second reading last night H
sEnding the time for resumption TO the second Monday
section Of the bin passed last night, requiring the do
P q the state TO be paid in specie, was also adopted
sone ether urmpcr.snt amendments were adopted,
and the bill vas passed cnaiy BY vote OF 10 yeas to IL
Adjourned TIL 70 morrow, ss 10 O'Clock, An
HOUSE OF R4PREsSN1AfIvBs.
No house met N o'clock
- consider tho various suggestions contained In tho Govov
D@S massage, reported bil and discharged ffom
rAe scl reported, II entitled Bill for tho Relief or
lnnks and their Debtors II the penalties incur.
~ :, nsn. uni anai tss is T q a.scn. NC isss % per mia
~: .I BE ~ 4, % " :s sss M M .2 S.1 ,s s1s
80 deposn; requires that ths banks u NE common
vsah shaII not declare dividends Of more than per
"a me banks Of rsourE .rd Philadelpnis .hall pub
basks Of New York All banks shall receive The notos
e o&her banks sovcn. on tho 2iss Of September laS
ne President Of any bank makes osn thsi any bank
= unworthy Of credit, three commissioners anAl
- appointed by the Governor 70 examine into the
rsf.sins Inc means for pr opsr examination By The com
niass % appointed, thereby forfcis in charter Bat
Z SIs ~ ~ Ss n s
verdict Of The Com missioucrs.
me ac' rsaer provides snAi al revenue collectors shall
peaoe must pay cash for notes resolved by the ase for
iesh aad On all Judgments heretofore hereafter
sStneA execution shall stay six months longer than
sswsd BY law In oases wnere tho party nss freehold
oher security neoessary where be hs not bail may
- catered. stay OF execution, however. shall not DO
usssd for wages or labor The directors OF the dinesen
6ann must sooep the bill within thirty days aer ~ pas
and css' .seI so.sps.nss 2 me ne so,srror and
tsre he ls Of January 1885, for the privileges granted
Ne above are ths principal outlines Of The acl-
ss presented psuilOns aiding relief rhs ps.uoos we're
nca nc Board Of Trade Association, cizcun OF Pnads
pAiA and Tho citizens OF Northampton county.
mo HraAKnn presented the proceedings OF the msons
hsh .. Harrisburg last evening me resolutions were
NJ rBoRrr presented he revolutions adopted by the
nesting OF merchants and manufacturers Of Philadelphia
d the meeting In Independence square yesterday aflcr
pooa, which were read IN
mo bin reported By he spessl Committee OF rhIriseS
wM csdered 70 be printed
Adjourned I'LL Q O'Clock r NJ
FINANCIAL AFFAIRS IN BOSTON.
yuD BOSTON LIGHT UFASrRY ON the FINANCIAL
Bouos, ocs. 0, 1851
ne h,e reported heavy failures In New York had .
rHiAes distressing effect state 10 day There
sc~s movemen, In ssockI, na very low figure. Money
freely discounted by the banks, but no. In sun
cisst amount 70 reduce the current street rates.
me following failures reported:-Iyman A. George
hos, straw and ribbon dealers; MILLION Gale, dealer In
oil and kasher; Nssh, French 4 Co., shos.
Al . full meeting OF he Bston Light infantry las.
night, NE following resolution vas ADOPTED
Resolved rhai In view OF the present financial crisis,
and consequent dersnEement Of sud depression In bun
generally experienced by an clauses professions and
sdes throughout the country, aud In Difference 10 what
We deem " be the almost universal sentiment Of our
postpone proposed excursion 70 New York Ill
more favorable opportunity.
THE RHODE ISLAND COUNTRY BANKS.
Providence Oct. o, 1857.
me following vas the condition Of The country banks
Of his asie Oct 81
hpnAi nock ......toOlo9l W
Hlh In cucuAnSn'ss.s.sssss l,UNUA 20
DePoeiw toLIat w
pes0 doe oher Danka.................... lbi065 70
Hm b,obllot po
Hpece. lO6,b6b tS
Ilb Of ether banhs... lBit1s 60
- A~.k n-ao IA n