The weekly Minnesotian. [volume] (Saint Paul, Minn. Territory) 1852-1858, 1857-10-03

New York Bank News.

|
New York Bank News.
New YORK, Sept. &c.
Our money market is in very excited state
owing to the gloomy intelligence from the,
South The advice of the suspensions at
Washington, Baltimore and Philadelphia, Gre
ated much surprise, as it was generally be-
lievcd that the first disastrous news would
come from the East.
| The market, however, remained firm, and
there is no sign of weakness from any one Of
our banks.
The advices from Boston, received at noon,
were as unexpected as they were cheering.
Our banks have passed the crisis, and the
market closed with quieter feeling.
There were rumOrs of several failures, but
nothing definite.
Our exchange brokers were at stand as
to their business, and generally declined to
fix rate. There was one offer to sell Phla-
delphia funds at per cent. discount.
At the first board of the stock market
there was quite panic, and stock fell rapid
ly. At the second there was still further,
decline, and skies fell off to 81, at which price,
however, all offering was quickly taken.
PHILADELPHIA, &c, 2 p. NJ.
Reading banks have suspended.
The failure of w. B. Lovejoy Il Co., cloth
ing house on Commercial street, this city, is
announced.
PIrTsBURG, Sept. &c.
There is no concert of action among the
banks of Pittsburg in regard to future poll
CIV. All of them continue to pay coin for small
demands.
The Merchants and Manufacturers Exchange
Bank and Citizens Bank are paying small de-
mands made by laborers, operatives and
others, but refuse the demands of banks and
brokers.
The Bank of Pittsburg has resolved to pay
in full.
BALTIMORE, Sept. &c.
The Farmers and Mechanic Bank is cash
ing all its notes and paying checks.
Other banks are fully suspended, but
still they are promising customers with
change.
The excitement hasoubsided
The issue Of shin-plasters is talked Of,
and may be resorted to.
WASHINGTON, Sept 26.
Bank of Metropolis closed firm.
The commercial community is generally
satisfied with the course Of the banks. All
are confident of their stability and resump-
ton at an early day.
A considerable amount of deposits have
been made in the Patriotic Bank of Wash
ington since their suspension.
TRENTON, N. j., Sept. &c.
to-day, and paid out about $4,000 each, in
and it is thought they will weather the
storm.
Jas. S. Sterling, one Of our heaviest mer-
chants, has assigned. His assets are am
pie.
CINCINNATI, Sept. &c.
Rates of Exchange nominal, Sight checks
! cannot be bought on N. Y. at less than per
cent.
Gold held out of market. No failures.
The merchants all stand firm.
Boston, Sept. &c.
The money market presents little variation
from the rates ruling during the week. The
net gain of coin in the Banks for the week is
little short Of 100000.
The Banks are considered stronger than
two weeks ago, and are believed generally
in a healthy condition.
Bills of Hopkinton Bank, Westerly. r. l..
were refused at Suffolk.
PHILADELPHIA, Sept &c, P. NJ.
A meeting of the Presidents of Banks was
held this P. M. 1t is reported that for want
of concert of action, they adjourned without
arriving at any determination. 1t was thought
they would determine on full suspension,
as practiced by some of the Banks to-day,
but which was not general, on account of the
North America, Mechanics and some of the
other Banks receiving supply of specie.
There was also meeting of the Cashiers
Of the various Banks, but their action is not
yet known.
1t is understood application will be made
to the Governor for the call of an extra ses-
sion Of Legislature with a view of affordiny
relief to Legislature with a view of afiording
fixture of charter, imposed by tie law of
| 1850. Several of the Banks, however. are
not acting under this law, including the Pana-
ma, Farmers, Mechanics Philadelphia and
| Western.
WHEELING, Sept. &c.
At a meeting of the citizens of this CITY,
held this evening, it was unanimously rcsolv-
ed that the Banks of this city be reques ted
to Immediately suspend specie payment until
| the business interests of the community
would Justify resumption. This action was
taken in consequence Of the heavy run that
has recently been made upon the Banks by
| foreign brokers and their liabilities, and no
loss will be sustained by note holders or de-
positors in consequence of the suspension.
PHILADELPHIA, Sept. &c.
The Girard Bank is now paying specie for
| fivcs and certifying checks.
Additional excitement was produced by
the news from Baltimore of the suspension
there
The Tradesmans Bank pays everything,
checks and all.
The Bank of British America is paying on
its notes. 1t received specie from New York
last night, and represents that they have
more in their vaults than amount to bills,
and they are certifying checks.
The Commercial, Manufacturers and
Mechanics, and Philadelphia, are paying for
fyes.
The Farmers and Mechanics are paying
specie for tens.
The North Liberty and Western pay specie
for iives in cases of necessity.
The Bank of Pennsylvania township of the
city and consolidation pay nothing on banks,
except Girard certified checks.
The Girard has entirely suspended bust
ness.
Some of the banks will receive no deposit
ton.
The Board of Brokers passed resolution
this morning to the effect that all settlement
in the purchase of stock may be made by GER
titled cehcks on any ofthe city banks current
on the day Of settlement.
A private dispatch says that the banks in
Reading and Pittsburg have suspended.
The South Ward Bank pays specie for all
its bills.
The Bank of Remington for fivcs only.
BALTIMORE, Sept. 26.
All is quite about the Banks now.
A large number of brokers arrived here
this morning.
The Banks are now paying the checks of
depostors and redeeming notes.
A meeting of Presidents will be held at
10 o'clock, when it is thought that they will
suspend payment in all sums over ten dol
lars.
There iS nOry No pycitomant