The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-16
TELEGRAPHIC DISPATCHES.
GOV. KING REFUSES TO CONvOKE THE LIE
GISLATURE.

xELGO0AxoxVO 00x "A
GOV. KING REFUSES TO CONvOKE THE LIE.
GISLATURE.
ALBANY, Dot. l6-SP.M.
The predictions OF yes:srday are not fulfilled Then,
end also late O'Clock this morning, zane
rally understood thai Governor King would the
Legislature in extra session. In relation 70 the condition OF
monetary affairs The New York city bank delegation
have been abosing with him very strongly. Very few Ia
this city other paris Of tse State took mach ne.es in
The matter. His political oounsellen opposed tho
with their utmost zeal They urged the danger OF
extra session In political point OF view, and argued
that matters might rather main In stau quo or even
worse Than now, possible, until the nrst OF January,
when the ne Legislature viii meet.
Late this afternoon was announced Ia private cir,les
thai the Governor had NOT made up his mind
70 call session, and thai he probably would
Dok This decision wM made after the arrival
OF the New York morning papers, containing
unanimous opinion OF the eight Supreme Judges This
opinion, Il IL now stated viii supersede tho necessity or
any legislation In order 70 protect the suspended banks
from threatened prosecution. The feeling here not
favorable 70 the New York Bank Committee In oonse-
quenoe OF the cold shoulder which they exhibited the
Albany and country bankers, when on . visit 70 New
York few days since endeavorpg 70 effect arrange
mont whereby country funds Nigh: remain In the city
some ATTY days before presentation for redemption.
Yesterday the run for specie discontinued, except
upoa The savings baa which paid or several Thousands
In silver under worry slow process mo excitement
high Until two O'Clock, when the banks closed. This
morning depositor could get dollar, unless under the
rule Of weeks notice previous TO the taird Wednesday
OF October Al u,h notice had beon given the
quence that deposito could gei neither specie
paper.
Tberc has been no excessive demAnd for spefc upon
The sccunt banks during the panic They closed
simultaneously Tuesday upon learning The cosing OF
VIC re~ York hanks considering OF solf pro
tectsu Hnoe then . liberal feeling has prevailed
dscounlDg u enlarged, condolences 10 fAs, rssumug and
all commercial mercantile and manufActurisg interests al.
ready present more amisble and oontensed aspect The
political friends Of bis Exoellency, together the dec
sion above alluded TO- the principal which pre-
vailed upon the Governor 10 hesats In converting the
Legislature The Albany lobby are most wofully dap.
pointed In The non acton Of biz x, oelency.
FINANCIAL PANIC IN NEW ORLEANS.
Nnw oEnAss, Oct IL, 1851.
The Unicn Bank has Just suspended
There heavy run upon al the free banks There IL
. great deal Of excitement
The branch mint has purchased The banks $500 900
in silver u paying out gold, and 20 arording some
relief
Afsrs In the anerpoon were yea very unset led and
suppressed that the upon The banks win continue %.
MORROW. Great confidence u felt In al The banks nov
SANDING and large sums we're dsposisd In hom to-day.
No faures are reported today. Appearances moro
cheerful than In the morning.
There are runners thAl the Bank or New Orleans win
open In the mcrnipg Ih notes taken by Cnsens
and Southern tasu, and By James Robb Co.
The banking house OF James Robb 4 o., with otnsrs
kept orep I'LL six O'Clock, and not doubt Ia on pressed ~
70 or The Southern, the only free bank len standing
NEW ORrsAss, ooi IAN.
mo on ms Ot!zsns and Canal banks cousinueI
heavy but Il u 10 lsss extsnt the rest Yhsre much
e1ctsmeai, and business Il payAlyxed.
10 O'Clock, Pm
me uisers' Bank the Rank Of The sAss OF Lou,sasa
The Of Lousans, and the oaaAl Bank all refused
this morBisg, 70 take NE notes OF the rrss bann.
me NE free banks commenced early In The day
and before three O'Clock NE Ua,cu, me Msrchans and
rder', and The Bank Of New Orleans suspended specie
paymeniA
mere vs no run NE Southern (res) Bank, and liz
considered perfectly good.
ne bank Of James Rosb %. (frse) 10 considered sale
IL circulation u distant and heavy.
TbeUnEcns' Bank held ~ doors opcs, paying srecs
M6PM
The chartered banks standing BY each other, and
large deposits being made with them and ths Southern
Bank It's sad The sums being deposited win them are
larger Than those drawn out
Although hsre osnsiderabls excitement, rood humor
prevails.