The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1857-10-08
LATE NEWS.


graphic adviws from New York. Of Tues
day last at IN. The panic IN the East
still continues. Virginia and Tennessee
hanks have commenced 10 suspend, and sv.
cr,l banking houses in ST Louis and Chica'
go have closed their doors
N.w YoRk, TUESDAY,, September 20
The Metropolitan and the Republic. Mcr-
chants Bank Of New York, Mechanics
American Exchange Union ind Phoenix
banks have issued circulars. assuring the
public of their ability AMI determination 10
maintain specie on Il basis for their circula-
ton and expressing the opinion that the
tendency Of specie and produce in this point
will soon relieve the banks OF the present
pressure.
The money market Is very stringent. hut
the banks remain firm in their position
Some heavy failures are reported.
ltumorUl tailur~ Of Clark. Dodge h Co,
and Phelps, palgc Co, arr entirely
untrue
Exchange on Philadelphia 10 pr cent.
Rates for MONEY On STREET, IN some cases six
per cent. per month. An assignment Ut the
Ohio rrus, Company was unexpectedly
made.
Advic's from Albany mention run upon
the savings Banks 10y small dcpositors.
There " no pressure elsewhere. AMI bill
holders lhcre are .ulict and con!iI.n,. -. .,..
The weekly hank statement shows the
! following result Decrease in loans, $685..
geo decrease in specie, 1920 600 decrease
| in deposits. Sgj3 900 decrease IN circua
| ton S!36 900.
ruiL,pKLrnIA, Sept -, The procana
| ton If Governor Pollock 10 convene anox
ira Session Of the Legislature viii hc pub,
| lisbcI to morrow morning.
The Board OF Trade has determined 10
call meeting Of public expression Of tho
various business interests Of the city, with
reference to the proposed legislation on the
suspension bclic,ng that the business in,c
/ r,Sis Of the community and State will be-
subscr,cd thereby.
! The prpstlcnts Of the banks have agreed
| TO r,s,orc the Bank Of Pennsylvania 10
| position at the clearing house. nnd io recnivc
it, notes aud discount libnraly for their Gus
toners Had this been done sooner there
would have been no suspension.
i'mILApEIriilA. Sept. *. There Ia still
NJ couo,rt Of action among The ln,nks. They
commenced paying five dollar bills, but nj
| o'clock ihc North American Bank. whicl,
previously redeemed all uoi,s, suspended
! specie payment, and the Sane course viii
now become universal,
The Philadelphia Bank suspended specie
payments, hui redeemed checks with notes
ol other banks following this course.
The Governs, lals not l,cid'j between
banks and there IA n pressure lor aud i,ganst
calling n SPECIAL session oi the Legislature
CiScixSAri, Sept 2s.---'ilm excitement
c"urqncn' upon ,m'',suc'i uninvorahlc nj
vices from the East parayzs business. and
| IN" intention Of business men II entirely
| turned from the ordinary routine u the all
| absorbing quest on al the latest news from
/ the Fast l.ankinp hou@a continue TO quote
! New York exchange ai par. hut only small
ain1nnfa can he purchased a, thls rate. 49,
SOFA" $4,000 and upwards cannot b" houvh,
AZ lcsa than iiT" per crut premium. No
paper oan b" negotiated ~ ih1t II !, nst-
oas to give quotations
The Inper 81 mn Iron md Shoe n
leather iions" went 10 protest J. Is
lIollne-' manufacturing house made Nh ~
4iynin"ut None II them, however, insol.
vent
~ Lpis sept - poey, Mil,cnbcry,r
y Co.. bankers, rO',d their doors this
morning. A card signed by large nun
l,cr Of wealthy citizens Is Published, guaran
f,rirp he solycncy II In'as n Go. and
I,cnick " lt"ii4oO and nssnring d"positors
u the al''tY ri their dcposi'g
The public mind ~ very uDsttlel, and
there b. general run on The brokers. The
bnnks stand firm. and are discvuntIng liber.
nlig
J. f-apicrson " 60, and l,ati,y n Barlss.
da.r, bankers at ~. Lon's, have suspended
tmcAao, Sept. 2o-E. i. Tiukhnm a
CO.. bankers II thu city, suspended this
morning No run On other banks.
Pnpvfprscg H. l.. sept 2s The banls
uf l'royid'.ncc have resolved 20 suspend
.pccir payment. The liabilities Of the banks
me not over - pcr cent. 81 their capital
PuJsp aGn. S,p, 2H,--All The banks u
this city, with tls oyo,p,ion ~ tho Pitts
onfgb Bank. have srsptdsl but win 70
p,ns WIN similar action Il adopted by East
an bsuks
BALJsMoaE. sryi. 2-.-We have no u,a-
''rmI cbonsc lh ipDIs'y matters to day. 1h"
hanks ar; ~ secure circumstances, api are
r,- h-iuiug ,,'s IA ma'l'r 81 accommodation,
SI,esic ,k1nafrl. 81 premium VI 10 10 Isr
,at 60 exchange Tor Bil,imore iuBl4
OataA sept u Ed',oc Gineo Ua'-
: N Pyop, Tir Exchange Bank ~ tl'~ rty
+ iale'l today; aisp the fatncllo Baik al
- le River Ibsy ar sid 70 h bad bail
yrfs. Your, ''AIO.
Nhuguiy, Sept % Tcnnr'~s Backs
! Ilr Bank ol Nalrvillc. Tenn haa aso
.usprsiei
SorgoLs sept 2@. Som feeling " man
, ( SID ,,rr,. hboa, ils biltimT. Iwi Phils.-
'kiplin suspension. bat The banks ~ far have
rpuatod irm.
1agsIos, sept 30 ~ ~. BaIlrn n