The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-15

pend TO day Tney have also passed resolution 70 tsxs
the notes Of al the country banks At par.
MEETING AT SYRACUSE IN REGARD TO THE PRESENT
CRISIS.
SYRACUSE, N. Y, OCT IA, 1881.
largo and spirited meeting OF business md oshs
citizens Of this city held here this evening Resos.
ous were passed approving The suspension Of specie pay
meuts by The banks pedng themselves 70 receive end
70 give currency he bill OF sound stae banks for ths
sake OF tho business interests Of The country, and joining
In the request 70 the Governor 70 convene tho Isgssss
for the purpose OF taking such action for relief - The s
gencies Of the case may require.
SUSPENSION OF rHs BANKS IN BUFFALO.
BUFFALO, Ook II. 1887
The bank presidents held meeting this morning to d.
eide upon the beat for them 70 pursue In view
the general Suspension OF tbs banks Of the State. Ths
meeting was inhsrmonous.
Nothing was done Of the adjourned meeting In The aR
noon. All the banks The city, with the exception Of he
hAnufacurers and Trsden have suspended specie pay.
meuts
pended to-day
THE sCHBNK0TADY BANKS.
SCHEHBorADY, Oct. IL, 1857.
The banks In this city continued 10 pay specs q sn
calls made upon them 10 do 20.
TIE BANK OF COMMERCE OF PUTNAM COUNTY.
cA.Mn, OoL II, 1851
The notes OF the Bank Of Commerce OF Putnam oounsy
reported ~ thrown out, viii DO redeemed usual.
SUSPENSION OF MASSACHUSETTS BANKS.
PROCEEDINGS OF MEETING OF Tns BOSTON MRR-
CHAETs-FAILUREs, ETJ.
Bosros, Oct- 14-lsST.
Tho representatives of the Associated BANKS Of Bosom
met at the Clearing House. a quarter part nine O'Clock,
this morning. Franklin Haven, Of the Aerchants' Bank,
VIM Thomas OF the webster Bank chosen secrstay.
Remarks were made by Waldo Flint Of the Eagle Bank;
by Thomas Lamb, OF .he New Englsnd Bank; by o. W,
Cartwright, CT the City Bank, and by Alpheus Hardy
the Granite Bank.
Under the present excited state Of public feeling and The
embarrassment produced by the suspensions Of the New
York city banksthe Boston banks being unable 70 draw
their balances from them In coin, and being subject
drafts from the New York banks for con-t was deemed
advisable TO suspend specie paymsn for the present
The bank Presidents at their meeting in the arernooa,
AGO lied the following preamble and resolutions
In sderng the taken by the banks this morn.
cuson that not matter Of xpedency grow
ing ont Of the fact that the banks of New Ysk Phadol
pha, Baltimore and other important cities had set them
the example, but measure Of irresistible necesdty-
nscsssiy impoed them net merely or principally o.
lher numerous debtors TITS obvious tina. The banks
could not continue specie payments without calling
Of nsn pay in snd sh.'S Ss %
perry, their . inability to pay .u In specie
In their fall all the Aboring csUes OF the community
be Involved They would be thrown out OF nploy.
ment and their families thrown OF daily bread. d
10 avert these consequences that these have be
aCol ted. The committee recommend, therefore, ~
sdoI ton Of the following resolutions
between The banks in the Clearing House shall be oou
unued, under such notifications the Clearing House
| Committee shall deem advisable
al hat tharaa hall A IA
| menis st ~ early period ~ possible.
The resolutions were unanimously adopted.
nere will be another meeting OF the banks 10 morrow
morning, O'Clock, to discuss OF he minor details
| OF the present financial polly.
The announcement Of the decision or the Boston bann
to suspend specie payments well received on 'Chaase
the measure In view Of The orcumsanoes being deemed
| sdvisable.
Tho Dews spread with great rapidly throushou ~
city bu. did not cause much excitement - was s.c
psted Lover prices ruled at the stock board and ne
mGkes quite unsettled Il u probable tina, ths Sos
pension win extend throughout New England, with few
| exec ,tions.
The Massachusetts, Bank the only refusing 70 joln
In the suspension, declares IL intention continue spes
| payments permar entity.
The banks OF New Bedford, FAirhsven, Worcester aaA
other principal towns, have suspended.
Al Nantucket and Lowell the banks continued 70 paV
| specie through the day.
The crisis appears 70 have been met everyvhsrs "
day with entire philosophy, and with no exhibition u
element
The Boston banks win pay their balances n The Clearing
House In specie ~ usual % that the suspension merely
amounts 70 the Suspension Of paying out gold over hsR
| counters.
The Pacific Mills Corporation a Lawrence, OF which j.
Wiley Edmands or this city, Treasurer, reported
pended. hessrs Little, Alden o., large dry goods I'm.
| porters, are also reported suspended
pubshed card OF Mesrs. j. Q. Howe Co., propoane
their creditors their paper for sr monkhs
- natures, has met with . liberal response. fhsb
NOES and acceplances 10 large amount have already
been sent In for renewal From the extended con neoou
Of this nrm with manufacturing interests IL suspcaaios
would throw out Of employment nearly thousand pr.
| sons.
v. Skinner %. publish . card In tho evening papsr
calling upon their creditors 70 have their pa ,cr renewed
for six months from liz maturity receiving interest FOR Ne
extension In advance The assets Of the nrm exceed hsr
liabilities by moro than 81, 600 0oo
The banks Of lawrence and also those In Mchuea,
pended to-day.
The Pacific Corporation unable 10 pay THAR hands
SUSPENSION OF THE MAINE BANKS.
PosuAsp, Ne OCT Ia, lssS.
All our oly banks Suspended spcue payments 10 day.
BANGOR, Ne oa IA, 1851.
Aa meeting OF Bank Drectors held hare this anss.
noon, was voted 70 suspend specie payment during Ne
present crisis. Resolutions also passed exprs.sne
confidence In the sufok Bank y SON. and rsfua.s v
| take bills no4 redeemed In Session.
THE NEW HAMPSHIRE BANKS
Boeros. 0a H. 1881.
Al Concord, n H. the banks have nos suspended
Al Manchester. N. r., the banks have uspsndsd.
BANK SUSPENSIONS IN HARTFORD, CONN.
| HAxrosD, ocs IA, 1881.
Al meeting OF bank officers this morning. wss vs.sa
has The Hartford Phmnr, CITY, STATE and Fax.er' Banks
| suspend specie paymepas