The weekly Minnesotian. [volume] (Saint Paul, Minn. Territory) 1852-1858, 1857-10-24

NEW YORK. Oct.

preserved.
Bank Failures in New York.
New YORK, Oct. Is.
To-day has been avery exciting one on f.
nancial matters. Up to 2 o'clock, Is City
Banks havn suspended. The following is a
revised list:
Bank of New York, St. Nicholas, Chat
ham, Ocean, Market, Butchers and Drovers',
Merchants Exchange, Irving Citizens,
Tradesnan, Bullshead, North River and Ma
rine.
The latter, it is said, was stopped by an
Injunction procured by one of its customers,
stopped in the same way, as by this means
the penalty of winding up which is attached
to suspension in most cases of affairs, when
generally known, will undoubtedly serve to
allay the present undue excitement.
Wall street at two O'Clock was crowded
with an anxious crowd of people. The steps
of all the Banks were also blocked up by
people, forcing their way into the Banks.
At the American Exchange, David Leavitt
addressed the crowd, assuring them that all
the banks would pay all to the last dollar
He also announced that an arrangement had
been made with several of the strongest
banks to go through without suspension. 1t
is believed, however, in the street. that the
suspension will be general.
1t is understood that some of our heaviest
houses have W thdrawn thoir gold from the
banks and replaced it as special deposits.
There were rumors during the morning af-
iecting nearly all the ban>s in the city, but
the list gives all that had certainly suspend
ep up to P. NJ. The others, it is believed,
continued to meet their liabilities to the close
of business hours.
The sales of Railroad stocks at the first
board We're small at a general decline. In
State stocks business was large at decline,
except in Virginia's and Missouris. Bank
stock all sold at decline.
The rim on the Brooklyn Savings Bank was
renewed to-day with less vigor, the Bank pay
ing promptly.
Several failures in the dry goods line are
announced, but none of any great promi-
hence.
LATEsr.-Thc run on the Mechanics q
Merchants Bank of America, Manhattan and
American Exchange Banks was severe, and
continued up to the close of business.
The Broadway Bank held out till nearly 8
O'Clock, paying out S14O 900 in specie, when
it gave out. The Leather Manufacturers
Bank subsequently, closed its doors.
The 9TH Ward and Fulton Banks held out
under tremendous pressure.
The Peoples Bank closed at o'clock, az
ter paying out $40 900 in specie during the
day.
The Bank of State, of New York, paid out
its last dollar, and certified all checks pre-
scented and then yielded.
The American Exchange paid all demands
but several others shut their customers out
at 3 o'clock.
The Bank of North America was protested
this A. NJ.
The Commercial Exchange refused to pay
specie or bills, but certified checks.
The Oriental, Mechanics & Traders, Bow
cry Savings, Shoe & Leather, Continental,
American, Exchange and Metropolitan, paid
their demands up to 3 o'clock, the usual
hour for closing.
The whole number OF banks suspended to-
day with those included in the returns of yes
teIday, is l6.
A bank meeting was held this afternoon
at which it is understood propositions for
general suspension was dis eussed, as also
the propriety of urging the Governor to con-
vene an extra session of the Legislature.
At the Cd Board Of the Stock Exchange,
stocks all took rise, under the belief that
the banks will suspend specie payments to-
morrow.
There was no run of any account on the
Savings, except the Bowery and Blocker
streets. They are of the strongest in the
city, and have on hand large quantities of spe-
Gle. The former had 100000 in available
means. The following country banks are
discredited to-day:
Oswcgo River Bank, Goshen Mere hant's
Bank, Syracuse Briggs Bank, Clyde; Bank
of Commerce, Carmel Eagle Bank, Roches-
ter Bank of Newburg Anderson Bank of
Poughkeepsie, Ulster Co. Bank, Sussex
Bank, Farmers and Drover's Bank, Bank
State of N. Y, Hobhokcn City Bank, Farm.
er's Bank of Montague.
Tho following are in substance the official
resolutions passed at the meeting Of the
Bank Presidents this evening:
That the Banks of n. Y. suspend specie
payment as far as the paying it over their
counters is concerned, but make regular OK
changes of one anothers bills at the clearing
house. That committees be appointed to
confer with the Governor in reference to the
calling an extra session of the Legislature to
realize the suspension. That such commit.
tee leave for Albany at II tomorrow.