The Cadiz Democratic sentinel. [volume] (Cadiz, Ohio) 1854-1864, 1857-10-22
MnncvnndTrnhr,

Banking system, has given it as his opinion
; withna day or two that the State Bank an,
Branches viii be able to weather through with
out suspention.
= In the financial world, ofcourse all eyes ar
on New York; we therefore copy the iollowin,
extracts from the Times oflast Friday:
THE BANKs OF THE CITY OF New YoRK HAvI
SUSPENDED SPECIE PAYMENT.-This announce
r ment is not yet Official but practically it Is tn
5 true state Of the case at the close of bank hour
II this afternoon. We have never in long expe
: rience, witnessed any catastrophe so sudden, q
o one attended with such wide spread popular ex
= element. The public were not generally nrc
: pared for it By the weekly Bank averages tht
past week which appeared this morning-Th,
statement showed an average specie reserve. o
! Sll 16,OOO-not well distributed to be sure
| Yet showing no more inequality than had otter
before been exhibited. But the average Of III.
r W ek was known to he a declining one The
5 sum total, which might have been the true test
: OF the reserve in the middle of the week had
Shrunk to ten millions on Monday YESTERDAY
morning. The generally quiet but steady run
of that day, and the pressing ielemptions n par.
ticutar banks, are supposed to have reduced the
sum total actually on hand at the close of bus;n
ess to about $500 600. The Clearing House
Association it seems, failed to secure unauimity
OF action and mutual aid, such as were reflected
by the preamble and resolutions published this
morning They didnot si0nd up to the mutual
assistance. y least one, if not two of the i'm.
portant concerns on the West or North River
side of the town, were virtually denied assist
ance. They all probably concerted together last
night, and with the suspension early to day of
the Ocean Bank, with a capital of Sl00OUOO,
came the stoppage Of the Merchants EXCHANGE
capital - 100000 the North River Irving and
! New York Exchange Banks This was we'll
known in Wall street hy the houf ornocn. Then
set in the general run, and for three hours the
scene was absolutely indeScribable, attended as
1t was, bya popular commotiou that brought IN.
10 the Street, from Broadway to Hanover n
multitude that could only be numbered l,y tiyes
o thousands. Every Bank was crowded. the
strong and (boaSted) imtregnable and the weak.
! The American Exchange, one Of the redeeminr
mediums Of New York State county bank and
| New England circulation, was first set lron.-
Mr.. David Leavitt the first President (now an
eH officer and DIRECTORY of the Bank appeared
upon the steps of No 81 Wall street and ad.
dressed the crowd. He mani e;ted game, speak
Ing not only for his own, but for six or eight
t'i W an H'iec' o'iIhN'
n"t sun .iie cloMu pressed re; INTO each banking
i,0''i u, tnI ''1''"Iy ny paying teiIeFs We're
P1 NoP' 60! =" ne Soia went out by
I'E "a'' ol thousands lhe Old Bank
l"'h' 'fi"a c', @ 90 NeEeh'y years ago and
aIaoi Tt " ,Io'l0o' gave way about 2
r. a., us rug" 'ie crowd as me giving
""%! ~ sne Nel zone OF tRe afch' and The sue
Ss.,o ',',''on'''Vie',S VI me suspension OF the
'l"l NI' '-9''"o' manufacturers, Trades
+,'u ,,si, d u'I'n UPTOWN oahkS' ceased
=" oAo''e 81" 'No. A''eht,oh was turned to the
r. w w '''o ui' upon ~, 'e o'ier large CON
~ Z" eet ne C.oWa at the Bank
~ '"I oI''c VI I've" io'N' N"ilan street and
sr,}- p'Ts' "'' '',1 ilioS' quiet; yet
$1,000 a" Pi'u o"' ~ So'u AV the Bank Of
MI ,J "' o"ites ,'Ie pressure was more
W".;', W. A' inc mon ana
,,ni1 ,", 80 s',e "pPNca'.ons Tor
So't WI '''''l'e.oua e'e,i paying about $4,000
tls Wv 'i'!'9 'mg o'S were considerable
nitan wn,,. how'll, ,,,r lpUDio any, metro
Imeric,n nv,hon.,o Rt "i,"''i a; wen as the
ly MI thc Wal sfIeet L,nk xca',t ,'''y 0Si
WENT ;ntn cnnrro,n ,,, r1n>up' VIC otu A.
v's i'i' l'i'n VOt,I'oito 's ''t'efhoOh only la
'G,'' ~. Hot N'liou o''t- i'si''.
,rl,, r,f;,,nrtn1 80 ''u,iF '"oieNleo.~-
iI mug, nov esteemed strong
n, "P ,ia NJ 't.ol;, .'io '"nAS on Dfoad-
fm'.,n"r,, w ',Vp'.''"n' il'e Mefclntle
,,,a a, ;,,", ,,''oe 'Hu 'Io"tiet' ana
,,oy.n rhn p,na1 Without letnn5
.,l A., p'rl. ,,''I ~ So Wy o' 'he east
Art;zan, .fan,d ,,a,n,"t p'''o pc 'ii,o"Sh' Inc
,o,,,,th ,,,a,t ra',l t'nl "' 7ri I,ock' Inc
NJ, rn,,,,.tl'5 ,.D no fui'oh ana
tbo ,,r,, r,Io H.. tr;n,,.a ~ 'n1t up 'o"h' on
U.ch,n;cs, ,n, Ir,la.s, ,,' t'" t'''0nSi'' anu
ilcn.' nn1 En,chnrS oara W. oonJ'e: me CIt
nn,,n mi 90 I,J n,o ". va III 'i'e iore-
r,s,,'t ~ o,,ln.,, Yin ooul',y, Inc
,i,r AZ ;a,, -; l'a -" " ~ 'ci@,' ltcciafa
,,,,;,,.. ~ ,h ,f,t '''' - anu the REQ"
r. J',,|+ 1''''D' 80 eisI' 'heif doors
or ths Ctv ~, tre eo"',o VI Inc great oody
'. Wy ivy oanN' , lo currency rom the SPe
'" '', W., ~ 1''"nsou 70 one OF Current
y, sI. CUISINES" trans
,,rco l, a,>nca,,yo1 r .t Vi 'iaae' VIII at
t4,t,, VI',,', l'a',. 'f 49,; ~ '''' III
.h, ro',I+ nth " "ni'' We 10 not question
d. o"nN now gong on
80 20 Nv. 'lNF'y IN any event that
~ a;o ap'to - ,lte oon''aNe 70 oe prolonged
,, - Ne 'i'' Ic"9ca 10 De The rule ot
i+,n,,,oH i".N or m 'ne present The
'''I Ol'"''ii5 mouse might
i .'''a c'a'G'ophe week or
';',.j 'oti''5 :" co'tt'eS tnat sym
m "iiA nt''c'y Wl,h the popu
r. i; oo"Ii'l,',iS ililniS IN inc as
, ,.o,I1, n.,,;... p 'o'''o'o' d, animated IN
common cause ona v;,I ,o v'"s y ni'H''8
the statement Of avar.,,os ,,h;nf I ".o
morning, that the d,ngar m;rht hv 49,. WIS
ed This week. Rut it i me- n,,;to ooot "oon p's
sensible concort mutual a;d oil Jont,t 'i'"'
ance were ont, as mncb want;n,s IN ~" ~
ng house as harmosv and nrantc7l annI 1'vs sa~ao