Worcester daily spy. [volume] (Worcester [Mass.]) 1850-1888, 1857-10-15


Financial Matters.
NEW YORK, Oct Il-6 P. M.-The action of
the meeting on Charge does not give satisfac-
tion. MIR. Richard Schell was present with a
resolution eensuring the banks for demanding
specie from each other, when they withheld 1t
from their customers-but was induced to with
hold it.
very strong movement is progressing among
the Republican leaders against extra session
of the Legislature, or any recognition of the sus
pension, shonld the Legislature be called togeth-
er, while large majority ofthe Democrats and a
few Americans and Republicans uniting in
support of a measure of relief to the banks. The
political aspect OF the question is very warmly
discussed.
The Chemical bank continues to pay specie;
the Manchester bank, it is said, is dning the
same, and it is believed that other banks will
follow. A partial statement Of the peeie paid
out, yesterday, by our city banks, not including
the Savings Banks, fOots up nearly $4,000, 600.
A notice was posted, to-day at the various banks
which are enabled to continue business, stating
that business will be continuedas heretofore ex-
cepting the paying of specie. Checks will be
received on deposit, and in the payment of
notes, and bank notes will be paid and received
as usual. Many of the banks have still large
amount of specie on hand. Gold is selling by
the banks at and per cent premium.
At the morning session of the Stock Board, IL
was resolved that payments might be made in
certified checks, and there was general rise in
prices of to per cent. At the second Board,
prices were frmer. Missouri skies 66, Ohio skies
50. Virginia skies 81 New Jersey Central Rail-
road 60, Michigan Southern IL, Galena and Chi
cago 81, Michigan Central Al, Erie 10 IA, Cleve-
land and Toledo %, Chicago and Rock Island
6S A. Milwaukee and Missouri II.
At meeting oa merchants, this afternoon,
james Brown presiding, it was
ReSotOe9, That the meeting had entite conf
dence in the ability of the banks to meet all their
dollar fnrd dollar hat l. fba J,,
ty of the banks and merchants to afford every
facility for the movement of produce to the sea-
E. board that the exigency of the times demands
an immediate extra session of the Legislature,
and that committee be chosen to wait upon the
Governor and solicit his immediate action to that
end.
A Committe of eight was accordingly appoint
ed, which proceeded to Albany, this evening.
A meeting of the officers of the several Savings
Banks of New York and Brooklyn was held this
afternoon, and resolved to pay their deposits only
in the notes of The city banks.
Several of the banks which closed their doors
yesterday, resumed business today.
The Supreme Court judges held meeting,
and decided to issue no process against the
banks, excepting upon notice given il the usual
forms.
Wall Street was comparatively quiet to-day,
There has been moderate run on the varions
Savings banks, but all demands were promptly
met by the Institutions in this city, but those in
Brooklyn were obliged to close their doors. At
last accounts, the officers Of the N. Y. Savings
banks, were holding consultation upon their
future course. They proposed, it is said, to pay
10 per cent. OH deposits
Troy, Oct. l4-Under advices from New York
this morning, all our city banks, eleven in
number, suspended specie payment. They are
open, however, and doing business as usual.
DETROIT, Oct l4-In consequence of the sus-
pensions in the East, the Michigan Insurance
Companys Bank, in this city, discontinued spe-
cie-payments this morning, otherwise its bust
ness will go as usual. The action of the
bank is almost unanimously approved. A
meeting of the citizens. to consider none tary af-
fairs will be held this afternoon in the City Hail.
BosToN, Oct. l4.-The announcement of the
decision of the Boston banks to suspend specie
payments was well received on Change today
the measure in view of the circumstances, be-
ing deemed most advisable. The news spread
with great rapidty throughout the city, but did
not cause much excitement, as was anticipated
The banks of New Bedford, Farhaven, Wor-
cester, and other principal towns, have suspend
ed. AT Nantucket and Lowell the banks contin-
ued to pay specie through the day.
The Boston banks will pay their balances at
the clearing house, in specie, as usual, so that
the suspension merely amounts to the suspension
ofpaying gold at their counters.
PORTLAND, Oct l4.-The bank directors met
early in the day, and voted to suspend. The cri-
sis appears to have been met everywhere, this
vay, with entire philosophy and no exhibition of
excitement.
BANGOR, Oct. l4.-At meeting of the direc-
tors of the several banks in this city, held this
afternoon, it was unanimously agreed to suspend
specie payments during the present crisis The
following resolution was adopted, together with
one expressing confidence in the Suffolk system,
and refusing to take bills of banks not redeemed
in Boston -
ReSolUed That tits expedient for the banks of
Bangor to be governed by and act with the New
England banks during the crisis, and continue to
redeem in Boston, as usual
There has been no run upon any of the banks
and the greatest confidence is felt by the COM
munity. so much so that the banks had incseased
the amount of specie in their vaults during the
past week The measure has created no excite
ment, and it was adopted simply as a measure of
protection, in view of the suspen sion in New
York and Boston.
CONCORD, N. H., Oct. 1.-THE hanks of Con.
cord have not yet suspended. The banks in
Manchester, n. H., and in Lawrence and Me-
thuen. Mass suspended today, and the Pacific
corporation of Lawrence was unable to pay off its
hands in consequence.