New-York daily tribune., 1857-09-26
I'D earnestly discussed ths sI-s-ldbsy pO'''0n' vi
affairs 3ufiDg tie foreDcon. A. -;,,

attracted great crow Of persons snd ths ST.,
tbroDged during the mcrniDg. Inc o9sil7 - ns,-
S.ooEd GDG Lodge streets were closed, e1cs "
SOM who bad buipess at the institution, ana tn7 ''
Isvirg notice was pinned upon me rsihns: nsv,v,,.
Relred That the Bank suspend specie payment; until i1'
Du1irg the day, up 70 the time We go 10 press, ss
though half the male population OF the town were ~
the VICINITY OF the banks the streets thrOnged aud
policemen were scattered aoog to keep the crown
moving in the gargwsys in order.
At several OF the Banks there were many who re-
pared 20 the receiving teller desk with new deposits,
and we have no doubt tina. some Of the specie drawn
on the spur Of the moment found Us wy oack again
through the hsnds Of the receiving tellers AT al oi
the Banks which there was anything OF q run tae
checks provided for the OF customers yanisned
with rapditv a. which the pompous runners stared.
From The CiaeinRd.i Con@sresal a. tis "a -,
The Banks and Bank houses are Well suppled win
coin and currency, but unwilling 10 loan on any
but perfectly undoubted securities such IS they regard
safe ard certain doubloops.
Eastern Exchange is bought at when the cheeks
are deemed entirely good, and sold at prem. Inc
msiket is very firm with a limited supply. American
gold sells readily at prem.
The checks and certificates of the Trust Company
We s.ill quote at soc.
The last Chicago papers say that owing to sheavy
made upon the banking house oi nssS.s hGirUa
Bros at Dubuque. Iowa. last week, and 10 the fsl9re
of their Eastern correspondents, and TO the suspension
of Carter & Co OF Gslena, the Institution was ooseu
TO closs its doors and TO make an assignment Oh
Friday. y
Their assets amount to $I75, COO while their habih-
ties do ret exceed 100000. OF these assets the
.over-drafts ard overdue notes amount 70 $D wv,
bills payable within the next three months aoou'
go coo, beside cash on band
From The Cincinnati Gdsette q SEPT %
But for the Encouragement OF the Trust Company
Agercy in New-York snd the consequent explosion OF
the concern, is not likely that single failure OF I'M
potapce would have taken place in Cincinnati or any
other Western city. II is remarkable fact that al
most every banker ard merchant that have given way
20 the pressure in the West can trace their troubles,
directly or indirectly, to the Trust Company. Inc
Citizens Bank. for example, had sos 900 in the Trust
Company. The Central Bank suspended IN conse-
quence of the suspension of Bebee Co, and the at-
ter were broken down by the Trust Company. LYie
of Detroit failed because he had large balance Ia
the Trust Compsny. james Carter Of Gaena failed
because he had $4,000 in the Trust Company.
The State Bank of Ohio has been compelled TO
withhold accommodations from its customers, oe-
cause it had million and half Locked up
by the Trust Company. These are few oil the
principals thst have been crushed or crippled by the
Trust Company, collaterally, thousands have been
ruiz ed incommoded by that failure ana 70 H. as a.
ready remarked, almost every failure or Suspension
that has taken place in the West is traceable. WhM
an aggregation of loss, trouble, veIstion and suffering
il thus attributable to the bankruptcy OF one concern
II IL known to have broug about by the care
essness recklessness or dishonesty OF one man. win
the knowledge Of or through the negligence OF Others,
whose duty it was to direct the operations OF the
Cashier. But the Trust Company, with its capital OF
two millions has oeted eff before the fortune destroy
ing wind that has wrecked the hopes OF many speci.
ators, without leaving even good name behind IL
il satisfactory 10 know however that the stockholders
are the only parties that likely to lose directly
Others have been inconvenience, and have suffered
in this way these difficulties now being rapidly
adjusted On the whole the Western creditors OF the
Trust Company have Jared WELL the great majority OF
them having been amply secured"
From The LoaisrWe Journal Sept ..
The Money market was very quiet yesterday Inc
Eve an
continues at a premium-the inside figure the Bank
rate the outside the brokers' rate for checks Ten
nessee money is improving.
From The Mlrdukee Ameviean, Sept q
Trade has not been affected by any commercial
disaster, yet good deal of embarrassment - felt.
Two Banks have suspended, the Rock River, 10 con-
of HUDSON Wis.,, in consequence OF its capital being
borrowed on worthless securities, viz: La Crosse
Corruption Bonds. This Bank has assigned, aud the
bill holders in both Banks are safe.
FyJm The ST. Louis Republican, Sept q
There visible relief in all departments of our
cys business yesterday, notwithstanding the heavi
Banks have commenced and before the week ends we
shall have heavy additions. Money-and good
money-in considerable sans is coming in from the
country.
There change Ia the money market yeser
day. II easier and il could not be closer.
Any rate offered for short loans but there were
few transactions.
From The Boston Trareler, Sept a.
Money affairs are withOut special variation, though
We hear Of some negotiations of the best commercial
paper, outside of the banks, at T. cent month.
The banks are fast being REINFORCED in their specie
reserves, and are dscountng with more freedom.
New-YOrk funds are getting more plenty, which will
bring the specie from W all street. The market lacks
the usual remttances from the West-whch, how
ever teens with abundance giving assurances for the
future most cheering and satisfactory.
From The Baltimore hmeyicdn, 24h.
The demand for money il very active, and the ds-
count rates for prn ndorsed paper still >, II 121
y cent y month. We understsnd that money has
been offering freely within the last day or two
than for time previously, and large amount OF
paper hes been negotiated at the quotations. IL Is
worthy Of remark, and we note it as proof Of the
general solyency Of the business OF our city, that al
though pressure Of almost unexsmpled severity ha.
existed for four or five weeks, only one or two
failures have taken place.
From The ". o Pieayuae 18Th.
Money is in quick demand, and the banks are scarce
ly able to respond to the legitimate requirements OF
trade good deal Of paper is thrown out which ap-
pears the street at Pa Ulo T. cent, and 1t Is dhcut
to obtain money the best signature under II. Some
parties are carrying strong colaerals at rounder rates
than this.
The Exchange market is unsettled, and rates have
decided tendency to drop. The best Sterling, II
pressed would be hard to sell at l0S, though casual
bills may command fraction more. In Francs there
was nothing of note done. We quote from Dbl q
5,21t. very heavy sale was made yesterday, some
thing like 300 600 francs, but did not learn the rate
Sixty days bills on NewYOrk sell with difficulty at
2la3 y cent discount. Sight takes so wide range
that there is hardly any quotation for IT, 81 IS were
made from !. y cent premium in bank all the way
down TO !, and some we believe might have 4een
bought at par.
To the Editor of The My. Tribune
FsExcHrowS. N. J., Sept. 2t, 1887.
SIR in your daily issue Of lhe 23d inst, notice
ey which you include the Union Bank FIenchown We
wish you to correct that 'ta:emen. as wholly incorrect