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

met togHssf On wcasssdN evenin! Sexs sns rs.o'
By order q tAs Board Of nre.aoss ,.o,.v u-,s.x
NAnAsm AAnn, Secretary.
rhe fa ares OF Large paper house. ons IN tas sn0ea
ne, In The sugar trade several In tho general grocery
busns and several dy goods houses. were reported 70
day, involving very large amoun: Or liabilities Tns
Suspension OF Gary o. q reported There u no suoh
arm In tho city - Gary o. hesEr. Cary, Howard
Sanger. formerly W. H. Cary o., have not sus pended,
nor W. r. Cary o. and - tho report undoubtedly
points 10 either she other or these cencerns We e
happy 70 say that u entirely without foundation The
actual failures comprise Of the largest, and wha'hAve
heretofore been considered the strongest housss In the CITY
has, indeod been gloomy day, and no one seems 70
have the least idc& q what coming ncxt All fear the
bu, hope for the better Another weok like shat No
have just rasssd through, woad dsaranxe ell czsses
and produce ffightrui state Of things. Ths banks
do no. know which way 70 turn or what 20 DO rhcre
no cnanlny Of feeling among thcm. and they oil drer
upon 'ne eame pent-rath they arc 30 divided among
themselves that Il utterly impossible TO his upon any
general plan Of action. Some Of the banks wan. 70 oxpand
while others determined 10 hold and do literally
nothing The conservative banks therefore likely 10
carry their point, for u, far shcy oonoosnsd
the Safest and In doing the other banks compelled
70 keep Ia . contracted condition likewise.
There quite . run upon the Bowery Savings Bang
Today The failure Of the Bowesy Bank was ooubusn
the or this movement Tho similarity In names, no
doubt gave rise TO tho report thai tho Borary Savings
Bank Fad suspended
The last weekly statement OF the New o-issnr banks
shows In specie Of nearly $500 oco and In do
posits OF $4,000.
Oar advices from Charleston and Savaansh repot worry
tight tines In financial Affairs. Buaness - Of . sts i'd
still.
Within the past three days upwards OF 81 900 900
circulating notes returned to the Banking Department
Of .hs State sor redempaoa rather exchange
socka Some OF these stocks have como upon the market
for sale, and understand that OF saviDss
banks The market buy OF New York safe sNcks
on Saturday.
The Reading Railroad Company continues iu busnes %
usual notwithstanding the prosss OF In notes on Friday
las& the company may be compelled to n,xe m assign
ment.
The directors Of tho Michigan Central Railroad publish
proposals for loan Of 100000 This will supply she
Of the company 70 pay the bonds maturing previous
10 July next and extinguih The ossns debt within about
s4eo ooo which expelled 70 be met from e earnings Of
Tho nett Yen months
Tho amount OF speds ths vault OF the Assistant
Of the port Of Boston, septso 1857 % q
In the vault Sept 30, 1855. 1904 Dol "a
Dcoreeso.. ix5 d
The new Board Of Direcsop Of the Michigan Sou,hera
Jervis, President This u . pretty good beginning
The Fall River dr says:-The pressure consequent ap
the factory suspensions In city beginning 70 be
felt smoug The poorer CLASSES fsmiles suffer
Ing bread-the fathers willing and eager for work but
nothing We have heard tales Of disross that would
bring the ey0 OF tho most Indifferent These poo
pie must have bread gtaxve, and this d not
nifty 70 allow the latter.
More failures have taken plsos In Bostou Buor, Keith
Il Hill, hardware, Richardson, Kendall % ~ocllsn |
goods and Pcsor o. Jou,s paper dealer, are reported
The Hartford Coa says that the Bank Com nlssionen
OF Co1necu, faithfully attending 70 tho nus commit
tsd 70 hsm. They vsilaus to project the bill holders
and the depcs.or and unmindful OF other interests
Tho Nddleacx and Bay Stale Mills corporations have
sued card In which shey say "thst they have entire
confidence In the solvenoy OF both oorporons hsy both
have smps personal property 70 pay their Indebtedness,
besides their extensive mills and valuable machinery Al
that II luire cd 10 nme 10 make ngemeuw aud
turn the property Arrangements have been made 90
TIA. oil the operatives win receive their fs pay when
discharged"
Toe Utica OtscyrT or october 1, nyg;-
Al. meeting OF ihs Directors OF The uaca Steam Cotton
Mills, held sst tuesday ovsniDg, wAs moved - saapeDd
WORK inv edsssly In the Mills uau .he Isl OF November
tory bu mol more melancholy lhan Of sborsrs
IKE ihem sro hearing all over The country 90 hundred
Of me operatives Ct the ma are womea-ha remsinins
rns Albany Evsnsng Journal says
Pa1io sgsravscs real evils and creates nagnary
und Of People submitting to ~hA they sup.
pose losses In parting Win their broken
bsti bls They have heard that such bank Ia .hrovn
out" or "dcrcdsed, and they jump at the conol1tion
thsl Ia bills WORTHLESS, 81 any rsis much deprs-
GATED Yet the truth IL that there hardly "d orot ted
bank In tns STATE whose bnh NOT his Gay in
1lrsicslly -orsh . hundred cens on the dollar.
Tho bills arc good ~ ever hoy were, what.
may become Of the bank st'ct. On referring
V tts okhod stae nen OF The securities deposNsi
at The Bank Department, II viii be hat ne Che
mupg County ank for instance had la 900 OF
circulation secured BY equal amount or bonds and
mortgages and stAio s,ocks thai Tho Farmers Bank OF
saraoss had $1,000 moro OF securities on depes, than
had bills 10 orouon that tho Hsgvenot Rank had sies.
600 OF securities Against only e02 900 or bills that the
bill OF the Nigga River Bank wese 10 like manrer fuly
secured that the Oliver Lee Co Bank had gos 900 In
sccorues and only $50 900 In ooulaion; the Oaiado
Bank had go coo 10 securities and Gully cit goo Ia crcua
lion tbss the Canandaigua Bank and tbs Ontario Bank
In Ike secured dollar for dollar aud that
The Medina Bank had but ISL eco OF bills, and 10
their redemption SIS COO In stocks and bonds &c. too,
The Rochester sxpcai Savings Bank wnose fall
ure" deposorv have smcpied dead loss Of
ali their moeey, nov announced "a be able 70 pay every
Of them he fun amount Of principle and inercs,