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

he merchants Oi the city held meeting
ON Thursday, to adopt some measures ncces-
Sary upon the present condition Of affairs
but they did nothing. proposing To meet
again next Monday, to hear report from
committee, having the subject in charge
That they will counsel moderation VIC have
no doubt. aud we trust they will unanimous
~ sustain the Bankers. and discountcnance
all efforts 10 mfk he run upon them.
let the Bankers be upheld, and our city
will como out OF tho crash, without any bcly
being badly hurt.
Our Bankers arr reliable men. They
have abundant assets, and all they want is
u little time 10 make them available \
spiri, of forbearancc Is necessary, and tlia
spirit must bo manifested by all casscs
The following card was issued ycstcrlay
morning by MARSHALL & Co, aud explains
the cause of the suspension
10 Ora pfroIroWs ANp rus Pcptr,t
Il Is our painful duty to nnnouncc that losses,
{ Of which va have ad,cos by last nights mail
pels as 90 close our doors this morning
We viii immediately make q full statement OF
our affairs aud means taken 10 protect deepest
tors and other creditors, which We believe viii
fully satisfy them that ihoy will not lose a dol
lnt 10y our sudden misfortune
MAnsn,,i, \ Go
octobcr?, ls3;
/ las, evening W. r0ivel the following
statement from NNsrs MARSHALL. n Go. II
will BE- sen that their assets FAR cNocl their
liabilities
ia compliance with our circular oi iii. morn
/ ing, We submit the following general statement
OF our business, without waiting Ia make ancS,
hibi in detail which would be perhaps len. in
tclghe
0ur monthly basnco Of September 30 (iay
before yesterday shows
/ bills receivable, ,E..',,,,.-.,..t..t lbNb"d ~
Cash aud cash items. ,........,.. 2,iBp ~
tla3 21d o.
indebtedness 70 dcpositc,a ,.,.,.. s1,275 -
E,ees~..,'''. ,'.,,'.''...' tlov'o5s o.
Yesterday our cash and corresponding liabil
lite. were greatly reduced.
Our hill. payable are about tGO, GOA, being
chiefly for eastern loans, for which real estate
worth from two to three times tho amount IL
held.
!
amounts on either side may he stated
at...................... $4,000
Our insects, the above. .,,.., 1850
And HEAL Estate worth fully 2So0oo
- $4,000
Ica,in an excess over liabilities Of $4,000
! Ia ordinary times, our suspension would only
be temporary. In the present trying times, We
! deem II vain Ia think ~ resuming. and have
| assigned TO u. 4 Robertson, FAD. In order that
We may realize from assets without bIn'tanee,
| aud ~ speedily NJ possible discharge all In
debtcdnsss, notwithstanding " involves the
sacrifice Of prosperous and profitable bust
! neHs.
! We have felt Il u duty 10 prefer depostorr.
! aud Gully them claims 81 one hundred doara
! aud irss. 10 he first paid.
M.asmAiLA Go.
There was u I'crccp'ibc decrease in the
rsci'emen, IN thu city on Saturday, not
withdrawing another Of our bankers was
compelled Ia cloHe i,e j",,- will 10 s"on
by the following card
| Cam ,pom TausAs n SMITH. 1t l. my pain.
! fol duty 10 announce to my depoaitors. that
| through the pressure Of the money market and
news tecei, edfifom the East aud the run on
me yesterday, through false report that had
| closed my doors has compelled me Ia suspend
pa yment nbiil can collect or negotiate fot
! some funds. and IN making this announcement
| I will state that | have made no assignment
! and shalt not, knowing, ~ do. my entire re-
! rpobsibilty - pay every dollar, aud " III mako
| this brief statement 81 my Affairs.
Due deposiiors subject TO their checks, IN all Ia
date ...,.........,,.., .N5TG 20
/ hue dspostors on cettin
Gates mostly time ceIth
Gates not yet doe ........ 1850 10
/ Total due all drpozitots ,..,........ ,l'.0M ~
Ny bills psyabl" are nearly all ~
cured by mortgage upon real 80
( tate and mostly upon long time,
aud IN all amount TO ............ 900 90
ia. other bank. aud bankers kspt ~ 900 90
/ Grand total ..................... tlgG,OlG ~
/ Asset. due ms from dspos
its o,erdrswn. ...,.. ss0.s 90
Due from other banks and
/ bankers. .,,...,..... D. $40 ~
Bills receivable aud inter
e., '................... 10000 20
And ubiDc numbered real
es,a,. worth ........ 100, 600 90
Real estate partly covered
} by mortgage ,s,4.... ..t |oJVb w
--ftDl, JsA %
Asserts over liabilities ..,......... t375, SCI 60
Nov, after making the above statement
which ! believe to be correct 40 lar az can
Judge from hssty comparison 81 books and
[ vouchers, " the public .~e NJ to sustain me,
( shall resume ~ soon a. can possibly receive
funds 10 start with. which am negotiating for
Fast, and so far 10 deposits are concerned. they
shall be paid out 81 tho FIRST money collected.
Hut under the present state Of financial Affairs,
I find II utterly lmposuibIs 10 borrow funds.
upon any security, or at any rate Of interest
we, the undsrslgned, book keeper and cash
Ter for Truman ", Smith, do hereby certify that
We believe the above statement 10 be strictly
.s.A 49,. AL H. Ia IA AAi