The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-12
WISCONSIN.
oUR hILwAUsIs CORRESPONDENCE.

Ouk hlLWAUhIn CORRESPONDENCE.
AnvAuKIS, seps 30, 1897
Re Effect @ ne Panic In Wisconsin, Tas Prodac1 cyns
NHmrs-Orcp, Stortd in No Barrs-1Ae F.rmos Hold
ing for Better Irco-LA Crs~ Rosd-7ae kl,cou15s
and kinGnpi an.pdny, DC DC
Since my arrival here I have bean looking around 10
whether The STATE Of Wisconsin, and more especially
This city, possessed tho bono and spew 10 carry them
safely through hs crisis on such fyl.g ooo of
the editors Are boating abeui In every ius isaci
that this Base has the means within her power Of riding
herself snd laughing In the face the financial hurricane
thst sweeping heY sistes States such an alarm
ing extent, better than any cher Western sAte yet
regret 10 stac that Ae very elements that ~in give
the power 70 weather the ssovm wiz prove be the rock
which sho win fall The farmers wero never 70 able
70 meet oil their adss>edpew ,aey now are; their sayns
sroanirs under their loads Of wheat and tho wsm
NJ - piAsed ths sssn ssyond NE rsanh Of oss Jet.
with A ne golden stores the course thas shey pur
sung win inevitably bring upon them ptnoniug umsI
within sI weeis of sss Close of the Isie psvie.ur.
and but comparatively smsh amount Of cheat has
broosh. 10 nslhet BY hs farmers,he result Gin be ha.
navigation win co with nearly all the a6undsntna-ves
In the HANDS Of the farme Daring the last lhree days
member OF ns'ances have como under my obscrv4uoa
tested ihe only reason given that they aid no,
want sell their wheat The present prices thus whilst
s Is
o. NJ he mscr 70 sheH grain, and have added 70 Vie
embayYaas meni OF tbs merchant
In e early payt OF the the Western psople wore
trembling pnder the Appearance OF reaction In monetary
Anabs bat the appearance OF abundant harvest drove
away ,bs,r seaJs and caused hcA 70 rush forward In
their businen with . more reliant hand The farmer
traded largely upon The Strength OF bis largo cropssbc
,pecu'sior dipped deeper In his Wild scho1csthe NOR
chant added 70 bis socs d goods, psepasnt % he su
posed, for heavy fall uade-nov panos silk dressos
H. purchascd for dear At homelargc brick
gy e-raDrosd stocks and bonds purchased-fAnsy
and carriages wcrs added 10 tho already nous
n dsy OF rerSonrs hss Il sp,th oome--tse babsIe
has bust tho abundant hxveKt has bsen secured but
has not relieved hs m OF thev emburaasmontv and In
stead Of making eve ybody rich hss made thousands
poor the farmer refuses 10 sell bis wheat at The presont
prices leaving the merchant to vai for his money ihere
BY mailing npr ssble for nerchsD, 70 meet bic bills
maturing Il lhe Esat or 70 pay ihe .ohanio for hi. absr
on the palace that he has Aded In ereoang Thus each
10 depsndent upon The other and all have been los king
heal oil lheir wounds
Far from being my dsshe o beoome @, osksr, or add
10 the slcm hst n pcrvsdug the commercial circles
shn unless are taken soon 70 move the large
OF wheat 10 The seabJafd bf the Close Of nav
VI. ha Sr oee ne I'm TiSe,s hs ~
hing ard soyepty the erccotcn. Already namDer of
he heaviest frms here are on nees oaIs refuse 70 20
conmodate hem and tbey rLabs to oo.isc their bills
receivable sna unless relief comes soon su'psnsion muat
Inevitably follow.
ottiea bas only just he'd hero Saturday,
Tie 26lh, the nrsi tkat FELL Of panic horc. There
hes cen ever since toe i.uro Of the o1o Lac and Trust
Com pany anasuai ughness II the money arkes rms
have been known 70 pay and por cent monln for
none. 70 avoid protest. and others haze obtained exies
sion or time Tai unusual ugntncss gradually grew tight
er. unit on Saturday isst reached . unyerh panic-
cenAcerce entirely lost Tho hbsrnS men rushed 70
Of se p.s Of his oy are very o,un,sy cut Of
far he redempio Of their bills, for nearly ali Of
feir hues are locked up 10 their ysus; their crculsi,u
has been mostly hat OF the country banks vhose bhh
have born deposited with mem.
There is sonceYt OF action amongst The bAnhs or
this city, which resred oonndorce and aiavm has
have n ated
up rse crisis WI affect his ciy The least OF
sny city In the Northwest rhere has not
oceu 80 much wild spcualeu ~ THE peas
- there has been Csago and iho towns ths hma
spp river, vili, hovevsr, bs more severe serc Than
most of the merchants win % able 10 nsnd.
mere has been great deal Of ish through The streets
10 what the Ia Cropc Comrany will do vnh the semi
anna. Interest on hs s',ss s 3, ssrrr1soS bonds 'res
Lake Superior. have been info med from reiabls
source thai they Win no. pay be Interest failing due p
ie " noes u hasd-and ,hey viii yet prove worshIess
that company has kssed their road 70 Mr.. ohambefnn,
FOR arc 70 be applied pusn,ps ror -srs ths
grading This done partly 70 prevent the bondhosers
from s..esrs me ae, ss,ssss iov the iars,s - well ~
II 10 now the tuyn for tho stuck ~ Vie hl~sGkle ssi
Hrsssppl railroad to aeoirs inc parties frosn ,ns
Stale hki have been bSlsterins Il Ep ne ncw ~hndfswng
their support party o. some sI loaned here upvar4s
OF sl5c.0oo, sen, W New Yofk sud purchased sto 70
pslci 70 sei and tia, ZOO n hesvy ,o,s rss ssrt~
ia large amount stock upon mo market at this
nIas Dus produce . heavy decline
Politics ere compar ahve ely quiet The financial pspc
absorbs sil yhere IL no excitement amongst the poll
ucisni There but little nterett ken 10 the election,
and not Eov TIC fsmifg and rsvlng OF ~ ,6e
petty payiusu sdtors would barely know TIA, there
uss IN eectcp approaching Therc Nssa sosbt but
nsi the reTubl.na cshdidsie-Judgc RasSsli-vili be
eecled By handsome majority.
NEW YORK.
pprvrpuAL LIABILITY or BsrR srlcxr on pERs.
fhe following olanses Of the act of Apr lsAe Ia rela
uon The Individual liabilities Of stockholders In banhs
are yor by OF attention In this ccsion:
SEQ l. whenever defsuh hAn bc made In The pay.
rsrt d sny debt or liability contracted arer The nvst day
ct J.nusry one thousand eight hrndrca AMI y, by any