Evening star. [volume] (Washington, D.C.) 1854-1972, 1857-10-02
The Financial Crisis.


PHILADELPHIA. Oct I-Messrs White Ste
vens Co and Messrs Laurence, Stone a. Co
branch of a Boston house, have suspended The
Reading Railroad paid its counons thai s-s,a A n.
terday.
NEW YORK, Oct. THE feeling at the Clear
ing House and all the principal banks is decided
lScheering Coin is flowing in fiom all quarters
Inc suD-tFeakury to-day paid out over half
million, and IL II expected that about eight hum
dred thousand more will be paid out Tomorrow
The merchants are receiving liberal accotnmad,
tons, and there is manifest improvement in all
commercial circles. The conversation In cnp
Inercial and bank circles is hopeful and omit.
strengthened By the favorable news from Boston
Preparations are making for saturday's payments
which Will be very heavy. That will be the
most trying day Of the season, as the amount OF
bills receivable maturing on that day is very
large The Commercial OF this afternoon SAYS
the impression is that we have reached tha
worst point, ard If we only get over the payments
OF Saturday, we shall be comparatively in smooth
water.
The Farmers and Mechanics Bank. of VIII
liamsburg, which has suspended, has a circula-
tiOn Of one hundred Thousand dollars on demos
il of State stock
Ii is said that the leading bill drawers stand
ready 10 take produce bills from the banks and
give their own regular bills on London ia eK.
change.
stocks do not share in the improved feeling
general heaylness has taken possession of the
ket ana ali descriptions are lower. Illinois Cen
trail bonds decline ten. the stock five. and Roc
Island railroad fell six dollars per share There
was an unusual amount Of State stocks bid of at a
decline OF to per cent. At auction, twenty-
five Thousand dollars OF Louisiana Gs sold al 81
15H There isvery little doing In funds on sus-
pended cities, and rates are nominal Seven per
cent is mentioned as the rate on Philadelphia
BosToS, Oct. An informal meeting of meT-
chants, preliminary to the call OF a general meet
ing Of the mercantile interest TO consider the T.
nancial crisis and present course Of the hanks ~
affecting merchants, was held here to-day.
The banks discounted some to-day, but moi
enough 10 ease the market, and we have some
failures to announce: John A Sewsl. BENJAMIN
Howard Richardson, Kendall Co, and Peter
e Jones have failed
Lawrence Stone 4 Co, a very heavy dry goods
house, have suspended. IL is connected with a
number "f mills, all of whom suffer. They also
Were agents for the Bay State Mill al Lauteuce
ana heavy shareholders in them. The Bay State
corporation at Laurence will necessarily SUSPEND
throwing out of employ ment one third of the op-
eratves at Lawrence Their New York house al o
falls with them.
PITTsBuRs, Oct. THE AIlecany CITY (Pa
Bank continues specie payments all its notes
ana deposites.
LOUISVILLE, Oct. Hutchinson x Co. bank
ersy have failed TO-DAY, and made an assignment
ID Is understood that their exceed their liza
utilities by one hundred and fifty thousa nd dollars
The banking house of John Smidt 4 Co also
closed doors to-day. There is heavy run on tha
banking house of A. ID. Hunt a Co, but il II be-
Heyed they will certainly hold out, as the firm is
strong one.
CHICAGO, Sept. 3O.-Swit Brothers and John
son hanks temporarily suspended this NOR nin.
There Is but little excitement here.
DETROIT, Oct. The Peninsular Bank Of this
city has been enjoined by Attorney General How
ard, on account Of its refusal to surrender 10 the
State Treasurer its circulating billstOth amount
OF the deficiencies b-twccn the present value Of
its stock securities and that OF its circulating
notes, as required lev the charter. IL Is said thlt
the bank has abundant means 70 pay its debts
ST. LOUIS, Oct. 1.-The Bank OF Belleville
III, has failed. The banking house Of Messrs
Moore, Hollinbush Co, at Quincy, also sus-
pended OH Menday.
NASHVILLE, Oct 1.-The Bank of Tennessee.
Planters, Union, Merchants, City and Bank OF
the Union have resolved unanimously to main
tain specie bases. They are amply able 10 pay
pay the last dollar.
AUGUSTA, Oct. 1.-The banks here are dis
counting freely to enable our merchants To make
their purchases Of cotton.