The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1857-10-22

dock laborers generally, so that the crowd
was somewhat rough compared with the
customers of the banks of deposit and dis.
count. There were good many loaier,
aud pickpockets in the street. who discussed
the crisis after the Bunsby fashion.
We also take the following from the
HerdM Of the | 18th :
The Supreme Court Judge of the First
and Second Judicial Districts held meet
ng Yesterday. and decided to grant no in.
junction against he suspended banks, eX-
cept in eases where il was apparent that
iraud existed. The Judges DETERMINED that
bank is clearly solven, when it is able TO
pay all its debts. aud that when the officers
OF solvent banks are acting in good faith no
receiver shall be appointed. The fact of u
suspension OF specie payments is no, proof
OF fraud. In consequence of this action,
later in the day, Judge Roosevelt denied II
motion for an order citing the Bank of New
York to show causc Why receiver Of that
institution should not be appointed.
A meeting of the merchants OF the city
was called yesterday afternoon n, the EN-
change, 10 consider the state OF public in
tercst ~ connected with the suspension of
specie payments 10y the banks and to adopt
such measures as might be- deemed cNR-
dent. The meeting was largely attended,
and was presided over by Mr. James Brown
of the house OF Brown, Brothers n Co
Resolutions were adopted in favor Of the
call Of an extra session Of the legislature
and expressing confidence in the banks of
this city and State, aud "a committee was
appointed 10 wait upon Governor X ing To-
day, 10 solicit him 10 issue call for an cX-
ira session. Much dissatisfaction prevailed
1T The character d iir' proceedings. Via
meeting was. in fact, one IN the interest oi
the banks, no, Of the merchants 1t was
commenced ten minutes before and closed
five minutes after the time for which it was
called. The resolutions were read and
adopted without discussion and 10 inter
change OF opinion took place. After the
adjournment merchants and others gave
free expression 10 their disappointment and
propositions were made To cNtcmporlze an
opposition meeting. That course however,
was no, pursued. If, on reading our report
OF the proceedings this morning, the mcr-
chants believe that their interests were over
looked at this meeting, they ought 10 call
another this afternoon.
The committee appointed to proceed TO
Albany to urge upon the Governor the ne
ccssity Of calling an extraordinary session
Of the Legislature 10 meet the present emcr
gency in financial affairs proceeded t" Al
bany Yesterday. and, together with n dcpn.
,ation Of bankers Of that city, called upon
the Governor, aud made known their views
II is stated that the Governor Will Weld la
their solicitation. and proclamation con
yoking the Legislature may hc looked for +"
day.
In reference to the Chemical Bank the
only one Of the tity -onc banks il New York
that refused 10 suspend the Hccdhl says:
ca, OF the thousands of banks existing
throughou, the Mon there is At this mo.
ment only one specie paying bank The
Chemical Bank. OF New York 1t has not
only bee, promptly meeting all the dem',nd-
Of this kind made upon II since the com
mcncemcpt Of III" panic, but Is prepared 10
redeem, and viii continue, if necessary, to
redeem - ti.o va''.' w"! every dollar OF lta
obligations II has gold enough in it,
vaults al the present time To meet the whole
of it. liabilities and Oh the system on which
+, Is conducted there ls no condition Of things
which can affect it, character AS IA specie
paying bank. With capital Of only $500,
600. il has surplus Of over hall million,
nearly double III capital, which surplus "a
included in its deposits. II Is managed by
some hall dozen Of gentlemen, who own all
the stock; it pays dividend oI ak l.'r cent.
semi annually, and It's surplus is steadily N
crcasing with these large diyilcnd-