The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1857-10-13
THE FINANCIAL PRESSURE.

L
ThepuhIlc mind IL still concentrated upon one
point, namely, the financial pressure. We suhjoin
the following additional accounts:
| rHs STATE or NEW Yoax SUSPENDED PAYMENT.
notice from the state Auditor TO the Canal
| Commissioner shows that the great state OF view
York has suspended payment. There having peeu
falure TO negotiate the loan OF $1,000 ~. ra aa a.
tised the department Is without means TO pay tne
| timesirafts drawn on the Commissioners. Inc ve
tober timesirafts are to have preference as 20
| payment and the Auditor IL unable 70 say wnen
there will be means in the treasury 70 meet .ne
dr.f re ,por she September estimates, or for any
| work. or for drafts and damages hereafter 10 be
! made This will throw thousands OF laboring men
ont of employment at the opening oil winter.
rHE RANK RELIEF.
| Tho ,,eetino of bank officers and merchants al
| New York Friday evening, 10 consider measures
Of relief amounted 10 nothing. An experienced
bank president proposed that the banks expand
their loans Ave per cent on their capital, but the
proposition was voted down. 1t Is said that ths
strongest banks decline TO join In any concerted
| measures relying upon their own strength. Thu
seems selfish at such time a. this, and must NEE
| public aisafprobation.
The New York Post of Saturday evening says:
| There il no unanimty of purpose ser feelin.
among bank officers. Taken as body, they are
and always have been, in a state of anarchy re
CARDS any measures beyond the simplest working
of the clearinghouse organization.
Ii Is currently said that several of the stronges
institutions, who feel themselves well fortified
against any probable emergency, refuse TO join II
any plan Of action that is proposed and have sig
nifed that this is their final decision. If so, the,
have assumed a responsibility that must react will
dreadful force upon themselves; for such resolu
tion makes combined and harmonious action i'm
possible.
AHARD DAY.
Later particulars of the difficulties in New Yorl
are embraced in the following from the Evening
Express, issued at four o'clock on Saturday after
noon:
This has been the hardest of all the hard days
First class houses have requested and had exten ter
sions in large degree. The failure of ii. A. Col
will work mischief in Havana. Gold is on its wa.
here to meet their obligations, but their proteset
paper goes back. Of course, such failures do ava,
with Gil the power of the Habaneros to hold the
| sugar much longer.
"rhere are no additional:troubles reported In thu
city banks, but before Monday morning consuita
tions of Importance will be held among the lead
| ing bankers. Steps taking for that purpose
| though no official notice Is yet given out
''The Erie Railroad has made no assignment as
stated in some quarters. 1t Is not necessary Iot
them, though under protest, to make an assign
| ment as they are q domestic corporation to be
sued AS other corporations and creditors, If neces
sary can be fought of in law. The Illinois rali
road, being a foreign corporation, was differently
situated.
| hanks. which furnished them with currency
During the next week the road will probably re-
sumo though their payments will be large during
the week all of which it is likely they Will meet.
They have no acceptances floating IN the street,
| hut the debts are simply discounts at bank.
| "The bank statement next week is not expected
to be good decline in specie viii be shown, al
40 a reduction in loans and reduction in undrawn
| deposits.
| There was and is a strong disposition to accept
the proposition Of the Albany and other banks to
| accent and use their notes deposite and other
wise but the interior banks not only wanted their
| ba Lent nv hanks sixty uays. Int
| guarantee that during that time they should not
| come back to them for redemption, when paid out
| for produce. The city banks would have assented
TO the sixty days, but guarantee was an impossi-
| bility.
..The Bowery Bank goes into liquidation, and n.
@. Bradford has been appointed Receiver. The banks
in all cases to-day have not protected the bills OF
| the Bowery Bank, as they had promised
Exchange on London has tendency downwards
| and downwards. There some who predict the
| fall soon TO be as lew as o. The importation OF
gold will soon be about the best business that can
| be done; but the London bankers, in the present
state of things in England, will not part with gold
without fight for it.
"The Illinois Central Road assignees express in
| conversation, their firm conviction that the April
| coupons on the Illinois bonds will be punctualy
| paid. The assignment, they add, is only from the
utter inability to reach their money now in London
and in Chicago"
| A telegraphic dispatch from New York, dated
Saturday, says:
Genin, the well known halter, and Fenton Lee
| have suspended. The announcement of tho failur,
| of William Ill. Cary Co., was incorrect. There il
| no firm of that name now Messrs. Howard, Car,
| Iauger, whe succeeded the old firm Of W. Ill c. 4
| Co have not suspended Railroad stocks went down
still further, Illinois Central Bonds falling off /;
since yesterday, and the shares 8. The Park Banl
went through the run yesterday nobly, and came
out to-day stronger in specie than before. Their
was large business in state stocks at the Second
Board.
MONEY MATTERS Al BOSTON.
B0sToN, Oct. 10.-The evening papers of to da,
represent money matters as less favorable THAI
yesterday, but there is no apparent excitement
The stock market has again commenced to decline
under orders from holders to sell at the best
offered Bank stocks also share in the depression
and there are far more sellers than buyers. TIL,
principal decline to-day, however, in the
shares of the Merchants Bank, which fell off tire,
per cent, closing at 30 bid.
The report of the failure of the Boston Beltin,
Company, Tappan McHenry, agents, was incor
rect, and probably originated from the fact tina
they stopped their works for the periodical clean
ing Of the machines. 1t is said their assets excee,
their liabilities 100000.
RHODE ISLAND.
The state of things in Rhode Island is describe,
in very few words: every department of indus
try grOans under the pressure, without the hop,
of relief, except at the hands of those who hay
the control OF tue finances of the country
/ NATTrRS IN THE NEST.
/ In the West, there Is no material change to no
tice from last reports. The panic strides on ant
crushes with little warning A dispatch from
Louisville, Kentucky, represents that things ar
growing worse i'll that region. The heaviest pay
ments will be in November.
Mr.. William L. Culver, private banker, Louis
ville has made an assignment.
| LOUISVILLE, Oct. 10.-Thc failure of A. D. Mans
field clothing warehouse is announced to-day
Mr.. Smith, the proprietor Of Owens Hotel also
found it necessary TO make an assignment this
forenoon.
| The Indianapolis State Journal of the I'd saws -
I'VE learn that quite a number of officers OF
Branches of the Bank of the state were in this city
yesterday, and that comparison of views found
them united that the Bank OF the State of Indiana
could aud would go through the financial crisis, un
der all circums light side up. The Tippecanoe
Bank OF Losansport has been protested. The bill,
are amply secured by deposit of stocks. All the
Free Bank issues OF Indiana are perfectly SOUND
and good
THINGS IN PENNSYLVANIA.
The failure of the old and important domestic
goods commission house of David :. Brown Co.
is announced from Philadelphia.
| PHILADELPHIA, oct. IL, Z. M.-The House of Rep
resentatiyes yesterday afternoon passed on seconC
reading the Senate relief bill with several amend
ments, one of which struck out the provision re
curing the banks to pay specie at present for thei
, 80 notes. The effort to change the time for the
resumption Of specie payments proved futile.
BALTIMORE
The following is from the Americans money ar
ticle, dated Saturday evening:
The Stock market is still destitute of ANYTHING
like activity. There was, however, a moderate bu
sn IS done to-day, the operations amounting in tn,
aggregate to about $4,000. All the fancies wer,
quite heavy, aud in the leading speculative Balti
more and Ohio RailroadD there was large decline
This stock which advanced yesterday 81, fell of
+ to-day $413 per share.
Financial affairs still wear gloomy aspect and
the news received to-day of the suspension of thu
Illinois Central aud Erie Railroad has added TO tn.
general feeling of dependency. Money has beer
tighter here to-day than on any day for q Week
The banks are still granting accommodations to a
limited extent, but on the street it is almost limos
sible to negotiate paper. The leading BUYERS 81
paper generally decline doing anything TO-DAY