The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1857-10-06
MONEY MATTERS.

land. Md The brokers In Baltimore a-e buying
Virginia Told banks) and North Carolina notes at
las per cent, but they charge 1oal5 per cent. on
the independent banks Of this State. This disconnt
will be materially iessened after other Independent
banks have followed the example of the ''Rack-
bridge" and deposited money in Richmond for the
redemption of their notes which it is said they
will do. In Baltimore the banks charging 9aio
per cent. for New York Exchange, in consequences
Of the active demand, to meet payments faihng
due, but sales being made by other parties a.
premium of SAT- per cent
The English stock and bondholders Of the lllo-
nois Central approve of the call for an instamemt,
and the whole amount (Sat0-0Oo) Will cheertuliy
be paid up. The chief difficulty will be with the
rate of exchange on this side. This may also pre-
vent orders for the purchase OF stock heiuB f'ii
fected. The Illinois Central Company has n cre"lt
of s55n00o in England besides the amount l" at
cTue from the iustaiment.
Barring Brothers & Go. notice American stocks az
without change with fewer sellers than might
have been expected under the uniavorabs" accounts
from New York Messrs. Bell. Son Co. says;
The market for American securities. during the
past week has. in spite IF the panic III inc Ne"
York stock market been animated ana 'nS.,"" s VI
stocks having been pressed Tor SAFE uhu'', VIZ ~
hupncc of alarm there has been general dehi''hh'
withuut corresponding supply. The "hiy w,
To notice in respect tn railroad SeeuFi,i'~ -
large business which has been done and - SIM 90,
ing in the shares of the Illinois Centrai ha'''"u
Company.
The :. \. Tribune says:
The failures of Friday include the hiShiy l'''-
nortant nj wealthy house at p Chotean IT. '"''
of tins city This is IL fur house with oohhee'i i
at st Louis and is one OF the oids't ho
country. The Co. was Alr- = n" N' : ~,
j,ad iast SIMMER The immediate cause oil TINS
susrcusiou Is understood to be operations u @
and the inpossibility of negotiating exchahge ne
house has made assignment TO MI y a 'ii
duch and the confidential clerk OF Tue n.iee , i
The thirty.sx banks Of Boston aunnnhCs" semi
animal dividends to he paid October 9TH the tota
amount of which is 81 .20o,0oo TheaiVldeb"' i"lte
fro,, ~ i Nor cent and must &laddeh III" near Is
of the stockholders in these times OF pressure
There are also dividends oi over lort9 Va 'l' s"'i'
banks of Massachusetts, to be PAD. w, - Co.,.
From Philadelphia, the failure oi Nhlte stevens
4 Co is announced. The house Is one OF uia ana
highly respectable standing in the New orleans
treJa THE senior partner is Henry White, who,
i'm the mast party movements Of Inc country stood
as spromiuent in Pennsylvania as the friend OF
Mr. Clay as Robert Patterson, VINO laleo some DAYS
ago stood in the Jackson ranks
The Bank of British North America ana other
Canadian Banks have ordered specie from England
in amount rather than sell their exchange at pre-
sent rates. aud it will begin to arrive IN two or
three weeks This is a move IN the rESht direction,
and we hope the example will be followed IN other
quarters.
Among the latest failures in Boston last Friday,
were John A Lowell. connected with the Manufac-
turing business Richardson. Kendall Co. deal
ers in wooden goods; Benz Howard, commission
merchant. and Peter c. Jones, paper de aler
The dividend declared blythe New York and New
Haven Railroad Company on the ID of February
last of three per cent the capital stock, Will be
paid at their office on demand This is on account
of the late decision removing the injunctons.
The shipments of -four to tidewater at Albany
fall short million of bbls. as compared with last
year to the same date.
A letter from Boston, dated Friday evening. ncti-
ces sales Of some British province bank blllS On
London at l01 per cent.
The note on which the Reading Railroad Was
was only for ten thousand dollars. The
company continues paymen: of the coupons, ana
there will be no interruption in the business of the
road. The Philadelphia Bulletin of Saturday eve
ming says
The announcement that the paper of the Gea1f-
ing Railroad Company had gone to protest ca7he&
quite panic at the stock board this morning 5rfs
it offered at the opening at II but subsequent
ly hundred shares sold at 1212, and after tFSs
close of the board it went up to II 4.
dispatch from Pittsburg Pa, dated Saturday
says:
meeting of our business men was held at the
Merchants Exchange this afternoon to consider
the money crisis, and in reference to the action OF
the Legislature. Resolutions were passed, i'll sub
stance that the suspension of our banks was caused
solely by financial disasters in other parts OF the
country, aud was dictated by sense Of duty to
our business interests. Cur banks being solvent.
and managed with undoubted prudence and fore
thought they recommend the remission of penal
ties and that the period be fixed by the Legislature
for a resumption possible 1t was also
recommended that bank dividends be limited to
eight per cent. per annum; that the contingent
fund be not over twenty per cent. of the capital
stock, and that the surplus insure the State.
dispatch from Cincinnati Saturday says:
W, H 1,nra .
feared several failures would occur. good deal
of third aud fourth class paper went to protest.
but none Of the second or first class. Our houses
are all surprised and delighted with the result.
There is severe pressure in the Mobile money
market, and trade in a great measure has been
brought 70 stand. There are no fixed quotations
either for cotton or stcrling and both must there
fore be quoted nominal.
Chouteau, Harrison & Vale, an iron house in st.
Louis, suspended Saturday. Over eight hundred
persons thereby thrown out of employment
This firm owned the iron mountain.
The Wyndham County Bank, Connecticut, was
thrown out by the brokers i'll Boston saturday
afternoon.
FATAL FIRE IN PlTFsBJRa, PA serious fire, at
tended with probable loss of life, occurred at Pitts
burg, Pa, Friday morning last The fire originated
in cabinet warehouse occupied 10y James Irwin,
gu Fourth street While the firemen were actively
at work upon the building, the roof and of the
side walls fell Several persons were in the lower
story of the building at the time among them
benjamin kincaid, member of the Nigiant Fire
Company J, VI. Irwin, of the firm of Irwin Co.,
AMI a boy named William Maxwell, sixteen years
old. The journal says:
As soon AS the smoke and dust cleared away.
Kincad was discovered in the furniture room. pinn-
ed TO the for on his back-the josts of the cell
ing, which caved from the centre resting on his
legs near the Thighs and the fire all around him.
The streams from the engines were directed on the
flames and as soon as possible the fremen rushed
in removed the rubbish, saved away the josts,
and succeeded in releasing him.
Kncaid acted with great deliberation while in
his imminent periI He used his hands to guard his
face from the flames: once he thinks he inhaled
steam and fire. But during that long hour. in
which he slowly roasting, not a cry escaped
his lips. He says that he was holding hose, un-
attended, at the time the wall fell He sprang for
ward as the ceiling came down, but too late 10
cape His body was not burned, and no bones it
is thought We're broken.
Mr. Irwin escaped with some slight burns. Max
we'll, the boy. was between Mr. Irwin and the
front lie escaped being crushed but serious
ly burned on the arms, legs and back. William
Mckee. a blacksmith regidingo Wylie street, was
very badly hurt about the head and neck. lie
engaged IN carrying out chairs, and caught in
the falling mass.
the alley next the wall. He was buried under the
hot bricks and burning timbers. With great diff
Guilty he succeeded i'll crawling out, unasssted -
HIS face, head, hands and limbs were badly burned
and bruised, and his right leg broken below the
knee and above the ankle.
Both Kincad and Maxwell died of their inju.
ries, on Saturday.
SPORTING INTEILIGENCE.-The trot which came of
between Flora Temple aud Lancet as Springfield,
Mass, on Saturday witnessed by ten thousand
persons. Flora was in harness and Lancet under
saddle. Flora in three straight heats. The
last mile was made in IN 32s.
GAMBLING IN GRAIN, "selling short" &C., is ex-
tensiyey carried on in Chicago Ono day last
week the buyers pressed so hard on tho sellers 10
deliver, that the.price of wheat forced up or
s cents per hushel. The latter had sold more than
they had, and Mt warehouse fifteen vessels