The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1857-10-03
MANUFACTURES AND LABoR.

| gines finished but not delivered. on account of
the railroad companies being unable TO fulfill their
| engagements. The cotton, machine and silk fac
| tories in Paterson will also suffer- and the pros
| poets for employment there are dreary. The New
ark Advertiser says:
| "A large number of employees have been dis
| charged by the Paterson manu- facturers, and the
! New brunswick factories are all expected to close
in a few days. At the Rogers locomotive works,
! Paterson, IS hands. and the Danforth works, 100
hands have been discharged"
The Germantown (Pa.) Telegraph says that the
operations of cotton and WOODEN mills, print works
! drying establishments, machine shops founderies:
| furnaces, &C. were never so restricted, perhaps.
| rs at the present time. At Manayunk Frankford
and other manufacturing localities. the works are
either entirely closed running bit half time
large number of hands are consequently thrown
out of employment, either wholly partially, and
unless they have provided for n rainy day. which
we hope many have, there is suffering awaiting
them.
The Wakefield Mills Germantown. are also closed.
The extensive wooden mills at Crescentville are
partially closed, and those along the Wissahckon
with scarcely an exception, have ceased operations
The number of wurkmen thrown out by all these
suspensions is very large.
In Troy, n. Y. the Rensselaer, iron works a
large establishment. have been compelled to give
notice that they will pay their workmen quarterly
hereafter. The notice from the proprietors say:
1T is proper to state that the plan of payment
now adopted. mainly grows ont of the very mis-
taken practice of demanding of the banks specie
for the bills paid out by us. The banks, in view
of this constant annoyance, very naturally prefer
to retain their bills in their vaults to issuing
| them for payment to our woTkmen.'
During the past eight or ten days there has been
announced the stoppage of three factories in Geor-
gia, which prefer to close rather than run at heavy
| loss. The mills at Columbia, s. C., have advanced
| the price of osnaburgs to l315 cents.
The pressure. it is stated has no paraizing effect
| upon the building operations of Boston. Great
granite, freestone and iron blocks are rising daily
and the masons trowel rings out its sharp, clear
| click usual.
At st. Louis, on Saturday evening last, about ono
| hundred mechanics were discharged from the diff
| ferent iron manufacturing and iron working estab
hshments, ana other mechanics in the same estab-
| llshments had their wages reduced to 81 a day for
| the best. Cause--no money on hand, except what
was absolutely necessary to carry on business
I The establishments have been manufacturing ma
chinery, &c, on speculation, but find themselves
| compelled to stop that branch of work aud depend
on ready orders and cash-paying customers
The following Geographic dispatches give con-
densed history Of affairs in the cities named:
PHILADELPHIA, Oct. 1.-Messrs. White Stevens &
Co, and Messrs. Laurence, Stone CO.. branch of
a Boston house, have suspended. The Reading
| Railroad paid its coupons that were due TODAY
| BoSroN, Get. /, Evening.-Ths Banks discounted
| some to day. but not enough to ease the market
| and we have some failures to announce. John A
Sewel Benz. Howard, Richardson Kendall q Co.,
and Peter c. Jones, have failed. Messrs Laurenca
stone CO., dealers in domestic good, have sus-
| pended.
| IL
nos, has failed. The banking house of Messrs
Mosse, Hollonbush Co, at Quincy, also suspend
Cd on Monday.
AUGUSTA, Oct 1.-The banks here are discount
ing freely to enable our merchants to make their
purchases of cotton.
LOUISVILLE, October 1.-IIutchings & Co., bankers
have failed to-day, and made an assignment 1t is
understood that their assets exceed liabilities
by one hundred and fifty thousand dollars The
banking house of John Smidt Il Co. also closed
doors to-day. There is a heavy run on the BANKING
house of A. d. Hunt Co., but it is believed they
will certainly hold out the firm is a strong one
CHICAGO, pt.30-Swift Brothers and Johnstop's
banks temporarily suspended this morning. There
Is but little excitement here.
NASHVILLE, Oct. 1.-The Bank of Tennessee Plant
ers', Union, Merchants, City and Bank Of the Union
have resolved unanimously to maintain specie ba-
SEES. They are amply able to pay the last dollar
Washington City Corporation stock is SELLING at
1889. 60
Tile Augusta, Ga. Chronicle speaking of the AS
pect of affairs at the North and the condition of
banks South, says:
At the South, however, the skies are much
brighter, and in the cotton growing States we an
prehehd no such result, except, perhaps, in Ten
nessee, where their banking system has ALWAYS
been conducted on erroneous principles In South
Carolina, We are rejOced to think and believe the
proposition VIII not be entertained, indeed in
Georgia anon. those institutions which are pro-
perly organized, and have transacted a legitimate
business The Wild Cats will probably yield and
we should not regret such result it will effect
uaily rid the country Of the nuisance. We trust,
however, that the people will compel every bank
that suspends specie payments to forfeit its char
ter. That is the only true course to secure sound
banking, and safe and secure institutions
THE SUSPENSION IN NASHVILLE, TENN.
On the morning of the 2Sth ult., "a notice posted
on the door of the Nashville Bank, announced the
suspension of specie payment, creating intense ex-
citement. The Union says
tla
the bank, and Union street, near its intersection
with College, were filled with anxious crowd of
persons attracted by motives of interest or curl
osity, and considerable excitement prevailed. The |
doors of other free banks in the vicinity as well
of the State and Union Banks. were watched with
anxiety, and various conectures INDUCED in as to
whether they would open at the usual hour. When |
nine o'clock came, and they all opened their doors
the public anxiety was considerably essened and |
little disposition manifested to withdraw deposts
or do anything calculated to produce panic The
crowd began gradually to dispense, and although
the places OF those who went were filled to some
extent by new corners, yet at the hour of this wri.
ting, two 2. NJ. the streets are nearly clear and
public confidence in the entire solyency of the citv
banks restored
Ameeting of merchants and business man was
held yesterday. We understand, to take the state
OF affairs into consideration and devise some means
toallay the panic and relax the money market at |
~hich resolution was adopted requesting the
State, Union, and Planters Bank to sspend S,ecjs
payment for the present. This we are very much |
gratihed to learn, these banks promptly and unan-
imously declined to do. This determination has
given additional confidence to the public in the good
iath and reliability of these old and long tried IT,
stitutions. |
The following is list of the banks whose bills
were thrown out at the counter of the State Bank
yesterday. The ground upon which their notes
were refused WAS that they had no agencies here |
10 take them up. Some of them are believed 10 be |
entirely solvent. Here is the list: Exchange Bank |
Murfrecsboro; Bank OF Claiborne Tazswell: Bank
OF Lawrenceburg, Lawrenceburg; Bank of Jeffer
son, cambridge; Bank of Memphis, Memphis;
Bank, Memphis. N'
The Union in apostseript, adds:
The state Bank yesterday afternoon refused the
NOTES oi tne BANK Of America at Clarksvilie the |
Bank Of Claiborne at Tazewell and the Rank Of
for a fortnight or more
FATAL AccIDENT-A serious accident occurred at |
hr: Pnryears Store, in Mecklenburg county. Va. |
last week, by which man named Richard Ailgood. |
gunsmith, lost his life. lie was about to get into
wagon, having his gun in his hand at the time