The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1857-10-15

~. i"Uis, Oct. "a mXtlng was
held at the Merchant, ; Exchange yesterday
to consider the currency question at which
Henry, Bank Commissioner II the state
men, of the condition Of the Banks Of that
State which was generally regarded as salts.
factory, a committee Was appointed TO
report on the subject. convened IN iiie after
noon, but adjourned without coming to any
definite conclusion.
A vote on taking currency al par, stood
tie previous 10 adjournment 4 resolution
VIZ, passed petitlontng the Legislature "a
issue no more bonds al present, and . create
a sinking fand for the paym'u, of the inter.
est on those already issued
Another meeting il to be- he'll at the ~
change to-day.
The suspension Of Lucas y Go. created
no excitement, Thei, asset arr Ten times
greater than their liabiitc'
There is "A run on the Bank OF Missouri,
and the Boa;mans and German Saving
ias--...'cc-' T-'1 4
suspension, The regular Banks are con id
cred s'ron".
BoSroN. Oct, Among the large be-
quests Of the late john l.. l'haycr ~ one
Of $4,000 to Harvard College, the income
to bt applied to tie best ten undergraduates
who may need pecuniary assis,anca
The financial panic has about suhsidel,
and bushes. Ia State street is BEGINNING to
assume its usual quiet. No failures to-day,
The suspension Of John H. Howell is
au'hori,a,iycly con,radiced.
W WASHINGTON, oct. C. Nessrs. T. A.
Dodge, merchants and importer here. are
said 10 have made an assignment. Hereto.
fore they were considered The heaviest busl-
Ness firm in the district.
NEW luEh. Oct, G.--Ihcrc ~ not much
change IN the aspect oi money allaiH The
Bank statemon, had Depressing influence
upon stocks n the list board A. the ID
board the quotations were s,!l lower but at
the close "A hrlDer feeling Was manifest, the
day closn. upoHa vgry tight money market.
The difficulties OF negotiating ,N,hau""
have induced merchants to order .rajn Fr't
forward, guaranteeing the expense here,
Sterling bills closed al Jyal02. 10 cover
actual transactions some niiIics rc.l tl',e
higher but only IN small sums.
The receipts nj the sub 'frca.nfy wcrr
S22~ so and payments - 22s TO- ba'one"
SG.5o0,0iC The receipts including ~ ,
600, 900 tran, lctrcd from boston, and The
payments inIndc %ll2"oo California
drafts, S2ooo0o in small pieces sent To the
mint, Tor which large gold viii tc returned
Tomorrow, and s6oO,"0n 10 Blocker ~.
savings Institution. inpatmrrtior redeemed
L. :. stocks.
The American Eychtnec Bank. after
lonoring the drafts Of Mcssrs safes a
Church up 10 the clos" Of hl-ircs- ycstcr-
day. refused to pay thou ms \. NJ and
they .Ncro protested 10 day
IlAnnisHt IA oct &
Gov. pol"ck's mrssagc Z. the LEGISLATURE
recommends thai the Banks whirh May b"
relieved from the penalties on such a.san
son by cNlstlug law, be- rcl ed to na,c q
satisfactory arrangement with Tie STATE
Irasnrcr, bv winch h. will be cnsli,,i io
convert the current fund in the Treasury
and the balances 10 his credit in any solvent
Bank iuto Specie as h.cr.sari for the pa,
ment o! the funded debt alM solvent Banks
whirh paid specie for all Their liabilities in.
un'lIa''lv prir to the lat" general sUlsn-
son, be required under limitation and re-
s'riction 10 receive the noi"s Of each other,
continuing solvent at par in payment q all
db.bte. The Banks resuuine sIscie pay
q. ..t- 81 .4 -e,,ay@l ff3,a ~. coaf.tu3. ..:y
the rccf OF debtors That a provision be
made Tor the extension of iltr timo ! whs,a
execution III judgement may isel". The j.
sic oi relief notes # y small Denomination
should not now be authorized nor tine Banks
JHring Their SUSPENSION h. PERMITTED 10 d.
clare dividends exceeding t. pr cent pr
annum.
IIe thinks that the inoDirI ius'l,1',o p. 81
te state arr IN sound and soisen, c',t,dt
tion, that II the JG.sisnrts snigg..tfd nc
adopted, all viii he right
In the lIous. I~ioi' tic rea!iug Il w."
mes.3igr. u r''-pIntion wa- D'kred requiring
the Banks 10 rtsit the account cnhcerning
their condition er The Legislature ad.
j"rru~d
Afier reading the theeag' "a" Home post
poned The resolution regnflnga statement
from the Bank. before The legislature AID 8,
motion Tor tn appointment Of COMMITTEE II
l3 10 report ga 'he Io'rrnof s~-ay" Wa
defeated hy votr 81 / 10 81.
Adjourned III omrrov
SENATE Nsrions bills relative 20 the
Banks were rad aYI referred 'a,. %. tho.
prohibit. the is,no o. Do''s nb'ier 40 dol.
lar another l"gsliu> snjsiIsion and f,'~
,blr resumption. AMI another extend. rlisi
To the I'ppie by susI'oiog the collection
~ debts by Banks.
Nj Jor'E,ns bin sa.I.Dd. tin 0Iesa,,ou
Of tn a.. II so fort1iiu. Tie charters Il
Banks and imposing Isral,'s for spIen.
son. su,ha,D~ tb Bank. l., max loans
Ani Ii-coGn' and i.s'e os their own AMI
o,fsT no,'~ for a ppr,oi oi blank days. ~
str,c,- ,hv1br%is 70 six per cent, nsiu'rs III"
publication Of quarterly statements IN news
paper requires the sasI,pisi bank. 10
take the raie~ ~ o,kcy l.ank. in 'be ray.
usnts 81 5eh1 and~r csrtzin regulations: re
Il. Al.