The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-11


10 Mershan,s' .Iosangs Bank ACKNOWLEDGEMENTS. IS
A. the second board me market Was very aa A very
great effort was nsde 70 sustain H. but the downward
pressure VOC great and prices gave Virginia
s's ciesed per cent which . further decline Of
per cent since morning Della and Hadsoa opened as
60 and clcsed ii 7sk per colt New York Central Rail
read es fell Of per cent New York Central Railroad
l; In orosse and Milwaukee, ~ There being market
for stocks. holders refrain much . posabIe from
prsbg them for sale The presence OF any large lot or
AIRY iaros ether stock for sale would knsok tho
ket i've per cent al blow. We look FOR saeh
neDi ~ ,his, and sudden and ssrisus decline
wins. may be oonsidered prescn. low pr,oos.
rhe East River Bank cosed s doors 10 day. II was
rAhor weak concern, and has never enjoyed . very
high credit AT the date OF the Last report or q iu
dition - folio "a
Losns and discounts 1891 oss
scecie.. Zu,ssl
urcu s,oS1
Deposits, nominal 2@o,9lt
since tina, date the general amount has slightly
duced. la circulation secured principally by yev York
ss,c s,rss, aud the bills viii o'alnuo 10 be rso.ived
ususi by the o,ner bADta This bank Is located a ,se
corner Of Third avenue and a. Marks piscs, and had
capital OF sSllooo Tho banking capital OF n, city has
bees reduced alb juI million OF dollars during the present
week
TIE failure OF large house reported 20 day, bat
there arm Wall street, and another In Front street,
Of the name II NO, generally understood which
houss The Wall stree, nrm 10 engaged in shs pa
vs,e banking and lock brokerage business and Tho Front
stree. firm IN the South American trsio
The Assistant frouursr reports 70 day - foIl,vs:-
Total receipts sz35,116 os
Payments. 5oo,IIs %
Balance. 100 $50 Is
rtc receipts 70 day include $4,000 transferred from
Boston.
The railures 10 day have been quite numerous and
coed In amount Of liabilities those OF any previous day
within the history Of the county 30 far - they have
been officially announced they - foisowss-
nipois Central Railroad o., beads and cks $50 % COO
New York and Erie Railroad 70, do....... 5000 600
Michigan Central Railroad oom Sasy....... IL ooo, 900
individual concerns, esun sted.... 100000
ro.u.............................-sss,O 900 900
The failure Of the Illinois Central Rairosd Company aud
the New York and Erie Railroad Company 10 cfno ally
nounocd % follows The Illinois Central Railroad Com
pasy hsve made an ssssumeni 10 ncsrs Hsuiu surges
Traoy:-
Cscr1Ar TO rHs CuDuors STOCKHOLDERS AND rosD-
Hotpsss oy rHs IIiTvor CssraAL RAILROAD ComFlpY.
me directors OF The Illinois Central Railroad Coml any
under ralafsl necessity OF ~ nourciog TIA not,
whsAnaIpg sho most strenuous exsrioss 70 aver sucn
result, the company 10 forced 70 suspend par
The existing In The financial Affairs OF tne
country surprised Toe ccmrsny win . large floating dsbs
10 ro,,e for ne nav mens chen hs usua oreds bscams
unavailable assesment OF Ven dollars per
promptly made, and upon This aide Of the Aanti, largely
paid In sovancc enab ing the company 70 meet
fragments september. me insssmsns upon The slocx
nei abroad have been In rapid progress OF payment,
The negotiation Of the bills Of chAnge da agalns
NON, dlf Jun nrsi, hAs length bsoo mpo sbis
All osher and usuL modes o. raising money are vel
hnovn V be enilrsly Unavailable y would be Ia vain a
dicuhies which prevsnt ,he realizing Of the pro
ceeos Of the already called IN meet the
cruns obss,ioas q ns company would sasAnn 70 any
further asesoawoAt
Tbe directors bsvs therefore yielded 10 The stern pecss
- Ss 's o,.a. .s
.aoe Of able couass have ssss aiken 70 SECURE tncs
roe toupdss due On The con rrucon bosds oy, l. bsvs
been Paid "a large EXTENT and pvovi lion has bean made
S.s'ms.. II sssr.S ~ IN So'ass serious ~ lnsaS
vepience win probably rcsun nesefrcm.
Al possible erertons yin pe used 70 pay Oh evesy
liability without nnsscessArS de,ay, and relieve the
company from ih present smSarrass mont
A this has arisen from any dnculaes Intrinsic In
money MAKES the directors sss therefore no cause 70
sbse he cosdence hsy have hitherto fe and expressed
u VIC vs,e o. the road and me lands q the compsuy
THE Esr R.nsoAp
10 wa sTocEHoIDass DJaDH.llrss Nsw YoaK
- Fss R'1foAp CoaPASY.-
- $780, eeve G4tadei and foveshssovet 10 you n
y, 80 held GA the I'd II rssmbsr, and 90 the
"a b. t-.t occ1Ytd
10. Ss,ap~ly been forced 10 slow iis enSagsmenss
strenuous efforts Of ~ oce vhs anaaded by you, found
impossible 70 obtain temporary loans, slihoash they
showed that they could be reimbcrsed fsv days from
the recep<s of the company.
a nov becomes mpsrslvely necessary hat ron should
come promptly forward 10 relieve this comIany, ~ 70
prevent your valuable properly from passing Into other
hands, NJ the risk Of beng wHsssd s-ay In hnsaacn DO
tween the parties In interest
prompt and united effort on ycur part win yet sved
any Injurious consequences nom the present unfortunate
embarrassment vsry moderate amount receivsd IN
cash III enable ths oompAny 70 resume in payments II
once and the balance OF the subscriptions could be made