New-York daily tribune., 1857-09-05
The Buffalo Comm <rcial Adrertiser ssys:


az hsp4y 20 s.ats that 10 embana-sments upon thef
own account have been experienced by our dealers
hey eie a. sound any similar cass ol msn IN the
county; in fsc- more so. Not fsiure has occurred
among H. n Their business is upon substantial
basis Tteir customers are mostly consumers.
God bas commenced 10 flow back from this city
TO NeTy-Ycrk, and il is comparatively now drug
here. Yesterday several bags were returned sino!t
CpeT yg People having got over their fright OF Sat-
ord az alcl Monday the tide is now setting back. AT
the Menufac:urers' and Traders Bank yesterday for
nary two hours, there was such crowd there walt
sg turn to deposit that il was almost impossible to
g-t through.
The Bank panic has caused quite an active de-
mard for good mortgages given for purchase money;
end Notwithstanding the cry OF bard times, mort
cages have changed bands within few days al some
,Lng below the usual rates. Some have found their
way icto The hands OF parties who have heretofore
declined investments Of this kind because OF the
length of time which mortgages generally have 10 run.
Oliver Lee Co. Bank closed its doors this morn
irg. The bl-hoders will lose nothing, as the crcua-
ion Of the Bank is secured by United States and New
York State Stocks which now werth premium.
AT the last report il had $9i 600 in circulation, Sc
cured BY stocks 10 the amount Of ss1 OOO and Bonds
ard Mortgages $32 2693. The Bark recently lost
S76CC0 by the failure of car company.
Albany Journal Sep 4.
An Injunction has been obtained to prevent the
Commissioners of the new .Etns Bank Of Hartford
selling :he stock which they apportiOned to them
selves the applicants alleging that they did not intend
10 hold IT, but to speculate the premium that it was
expected to command. The applicants give notice
also that they about to sppy to the Superior Court
at its September term for mandamus TO compel said
Commissioners to redistbute their stock to actual in
vestors.
The amount of the defacatiOn Of the late Jacob
Richardson, while Collector Of Oswego, has already
been ascertained to be 100000, and the Govern
meut expect that it will reach at least 5000 600. The
bail is only $4,000.
We annex circular Issued by the Michigan South
Railroad Company 10 its stockholders, presenting
some views upon the present condition of the road
and calling their attention to the meeting al Adrian
the 2jth inst. for the election of a Board. A
financial scheme to relieve the Company from its
present embarsssments will be presented without
delay Every stockholder should attend this meeting
either in person or by proxy and accompanying the
circular is form of proxy to BE- used by those who
cannot attend in person.
OFFICE OF THE MICHIGAN SOUTHERN AND NoRrHERN)
INDIANA R. R. Co.. Ne lS WiLLSM.srp ,o.,
To The Sekhoer. oftae Michigan Southern and Northern In
dana Railroad Company:
We address you under peculiar clrc c9mstances: Inc
have betn PIT in prl For the first time since its organ
ard our duty ourselves and you demands that should
refer TO the causes which have produced this result
has been ssed for many asn. this Company II has
ben out pursued with eadness and relentless
prices millions its secu. have been sold at the Stock Er-
change by parties some Of whom were probably never o3n.
bold game public journals and private scandal have been made
tackled in every conceivable mode Its position mas oeen ms
epesented its difficulties have been macned; the truth
it, ba. R 1suesS 1s sS Se on % of it, books and
accounts coored and distorted have been spread before the
world the discussions its Directors have been made
Known and the theme public comment; and its
downfall has been predicted with PARTICULARLY Of time and cir
ofd md Sh
charge that connected with have been acting in con-
itis not for Us to say whether hi. well grounded.
Stockholders and b0ndholdeIs whose property ma, been saeT
the Of the railroad system Of the counry-a interested
CsG%P ms who rPtd @ sss ssp Of q @ plaso.
and Agent. whom they electnsy well Inquire whether the
Sesree sbatabe to parie, with sided
to destroy is credit 10 deprecse its securities to alarm :s
stockholders and TO bring It into public disgrace.
We will not assume 10 decide whether the charge. which
az lament the mnsnee iujury which been produced
Prices bave have run down to iLaion
tho their securities upon the maTketcapss have with
drawn their osnconfdence has been shssenand the result
has been that panic has ensued which within few weeks.
ha, to present rates more than one
There nothing in the financial position OF The Company
which could justify such results 1t had unflnded debt but
porance the West While the credit the Corporation
presrved it was not difficult 70 ciry along many Com
In % hop b or ns Stas T ap b rs3 5t
every Director and Officer te difficulties Of the position
could have been met and easily surmounted.
obliged 70 say that there not that degree Of
corosy and that spirit cooperation existing among the
Directors and Officers Of the Company which essential to
the Of great enterprise Ike thai which W. have in
charge. =,
bpy Of carry ing on succefy necessary financial uesota
ots without such cco2eaton the President Of the Company
% Of the ;aation In DOM 50 he called ap5n them to
unite the VIII ch the interests Of 'he Company de-
ipr Director. who could together In harmony. Conscious
that nothing :hau this would answer the eXgcnce
~ st.r. .ti.la tim tha
holders Adrian in the State Of Michigan the 2h day Of
Sept init oI the PlrPo,e OF eeetss NJ the present.
We have adopted sDd we sGa present without delay to the
.deraOn Of the tockhodes plan for relieving Tue Com
nany frc m It's present financial embarrasments In this pan
other Of similar puport IL is indispensable that the
ration ar property sacrifice Whether this plan
meet fail 10 meet approval shall have discharged our
surrender the into the charge OF those
WHO shall have been designated for that purpose by the stock
We have avsled ourselves Of the only within our
reach Of restoring to the the eshto & o @ own
should be united in order 70 be strong aud that they should
H. popy TO be arsged and honest faith in It's value
they hardly fail to With credit
ton 70 these results We upon them the import!
selecting those who have sn interest n the
sy to .Ds9 iaa' With dy ad hc can tareo
y :. proper guardians Of the p9ps &
In friendly well competent hands and then Il will b. sure
to to s @ 5saDlsf gs 10 S an b ci oSn within bret PERIOD
thou u.tihea;on excuse BY the influences to weh
W have alluded
earnestly request 8. the % sPpe. i person
by the MEETING 20 be- held az Adrian IN Mcasau,
on the 2h day September inst TO their wishes N
relation tbe future ard policy OF the Company
For the cannot attend person we inose here
b proper proxy The stOCkAo5er is 9uested 70 I'LL the
sank name the person h'm b, desires % sst fF
hu the possible 10 me 9nce ot
this Company, IL NewfIk addressed 70 George H. FORD
Tr...urer - By order Of the Board
EDWIN C. LITCHFlELDl
WILLIAM WELLES,
JOHN STRIKER Committee.
EZEKIEL MORRISON,
HENRY KEEP,
THonPsoSs REPORTER OFFICE,
New-York Sept. /, 1857.