New-York daily tribune., 1857-09-28


We Asve asy accounts are following tbe s,aHPk ,ei z.
Pbiadehhis and there sas Be 10 doubt tAst BY thus
time every baEk n the State q Pennsyfvan's has sa7
pended specie payments.
stocks have been brought 70 a complete stand oy
the norey panic, and prices with ore or TWO creep,
tieus are completely nominal. The Only transactions
were N Reading Railroad, az 91Dl and Cl'y Sizes
stsl The rae in New-YOrk Is Is, but this mad very
little effect here, there are no transactions between
be two cities in consequence of the unsettled rates OF
Exchange. The Money market, il anything, presents
q blseker aspect than ever. Confidence appears 70
be lest and the upon the Banks for the preceus
metals has been accelerated in consequence OF the an
nourcenent that all of the Baltimore Bsnks nave ave
suspended. The Banks generally are paying out god
and silver for IS notes. but not for notes OF hgneI
denomination. They also receiving certlhed
checks on deposit but nothing else. The Brokers re
fuse 10 discount paper, and are demanding . heavy
shave for exchanging specie for current city funds
The Reading Gazette OF September % says:
The crisis of the money panic has come ct last Inc
news Of general suspension OF the fniiaaeiPmia
Banks will be found under our telegrapnic nead lhe
Bank Of Pennsylvania was the hrst 70 close ts doors
ard the Others followed suite few hours afterwaro.
The suspension of the Pennsylvania Bank pecams
known here about II O'Clock yesterday morning, ana
almost Immediately run upon the Farmers BA Ank was
commenced, which continued unsn eoou. ~ -. ohscLs
p. NJ. when it suspended payment upon ITS cneeks
and BILLS Up TO this time some $2O, 600 were drawn
out The cashier, DIR. Muhenberg, upon learning the
condition of things in Philadelphia, started tor 'n1
after his arrival telegraphed to the officers of the Bank
here that general suspension OF the Philsdeipnia
Banks was about to take place, and directed them 70
suspend also. Immediately upon the receipt OF this
information, the Farmers Bank " shut down une
gates" and refused to pay out any more coin ms
course no doubt necessary. under the circum-
stances, a deft nsive measure. But no one doaoe
the ability of the Bank to have sustained .
run Of several days to much heavier extent than tnat
of Yesterday And no one doubts its entire sovency,
as i. evidenced in the fact that our business men,
with probably not exception, are offering 10 receVo
its bills to any amount at par for goods Ihat IAN
and will ultimately meet all its liabilities, Is what
every one who knows the institution confidently be-
leves.
The Baltimore Republican of Saturday evening
says:
The Presidents of the Banks in this city held
meeting this morning at the Union Bank, and passed
resolution suspenoipg specie payment genersny;.
This however, does not lin any case we believe, amount
to a complete suspension, but for the accommodation
of trade banks are paying out specie In 'ma sums
both on checks and notes.
all we can learn we find ground for any unfsvoraoe
report against any of city banks. The course
they have adopted is the only one they could pursue
TO save the entire community from bankruptcy and
distress. If they had continued paying specie when
the banks Of other cities were suspendng they would
be drawn on for specie to supply all the country In
the mean time their present condition betays no un-
soundness but on the contrary their assets show an
As for the Savings Banks in the city they are equally
sound and secure, and the depOsitor who draws bis
capital now only allows himself to be deprived Of the
accumulation of interest We are well satisfied that
there is 10 cause for apprehension on their parf
The private bankers are doing all they can to meet
the demands OF business
The 81. Louis Iatelheencer Of Sept. % says:
Isaac H. Sturgeon ESQ.,, Assistant Treasurer at this
place, paid out yesterday si6I ,Oo0 IN com. II Is on
Indian annuity account But it will fall into the hands
of Indian merchants as paid over to the lndans
on our Western frontier ard thence find its way directly
back TO our St. Louis merchants. Experienced parties
say it will find its way back to our city in thirty days
from this time
An additional amount of $4,000 will be paid out
by the Sub Treasury this week for similar purposes to
tax the same course.
may speedily be looked for. Causes, various and
powerful are at work to bring 1t about.
We understand that capitalists from certain places
Of Illinois are coming into our city TO buy up the cur
rency Of the Stock Banks Of that State now accumu
lated in the hards of merchants and brokers. 1t
is wise movement, and will pay handsomely. Ii is
much safer business than shaving individual notes
and viii pay better profits. We know several Of our
citzers who had 20 sell currency last week at g
cent discount, to get specie funds.
All the Illinois and Wisconsin Stock Bank notes
are good for their face beyond peradventure. They
all deubly secured fret by State bonds TO the full
amount of notes issued, and by notes of Illinois ct
zens to whom discounts have been made. No better
investment fer Illinois capital than 10 buy up their
own currency.
The Boston Trareier says:
debtors who can exhibit ample assets find but lit
tie difficulty in obtaining temporary relief either from
banks or individual creditors otherwise there would
be more failures"
The Rocklsna Bark, Roxbury. has declared divi-
denl of 4 per cent, payable Oct, S.
The failure of A. c. & G. Curtis, paper makers,
Newton Lower Falls, is reported.
Serious defalcatiops hsve been discovered in the
Agency of the Gore Bank, at London, C. w. The
Teller Mr.. Lucas has absconded, and suspicious of
grave character have been thrown upon another Off
Ger connected with the institution. The Savings Bank
and the Building Society correct; but the County Of
MiddeseI Of which Mr. Street was Treasurer and the
Gore Bank are heavy losers. Speculstons in Code
rich and Toronto are said to have been the of
this very unfortunate event.
Markets. .CARErULLY REPORTED FOR The TnIsusg.