The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1858-09-07
ABROAD TO HEAR FROM HOME,

the Petersburg Express of the LIST instant, we fnd
III. following:
EXCITEMENT IN THE MONEY MARKET-A sudden flush
,nricpated excitement agtated the holders of
@.-otte \. c. bank paper, On exchange and else
5.a yesterday The slight panic was thought TO
IN the result only of an unexpected depreciation OF
NJ ON the bank of Charlotte, supposition which
81 to he both explained and dispellcd by the fol-
INC, from the financial report of the Baltimore
"t Some days since, at the request of Messrs
Fan / Bros we published statement to the eff
| that fhcv had protested the Bank of Charlotte n
= fr refusing to pay coin on $28 900 of its notes held
-, them. To-day We have received from MessrS John
IAN Bros the following Bote-
MIL Won have the kindness to call attention this
i and state that the time of the protest the Bank
u.s. l in state of suspension, but has since redeem
H.. obligations to Us in coin, and that its standing
I credit will compare tavOraby with any other North
tarnlina Banks
Tti. most agreeable exposition long the mas
r If the doubt however, for while holders of the un-
f funds were becoming jubilant intelligence from a
~ = reliable was received and rapidly dissem-
I Trough the city that the bank of Charlotte had
y but $4,000 III specie to asset liabilities the
,,o,rt at 100000! The statement was received at
weldon from we'll posted parties, and the above from
The Baltimore exchange, instead of sustaining its as
,mption seems rather to throw Ominously forward
token in favor of the latter unpleasant announcement
Still we would not refrain from doubling the reports
are not aoge her official enough and knowing the i'm
racue amount of Charlotte together with other n G.
money. current in Petersburg would not advise q
sacrifice 10y any means on the part of those who may
have Charlotte funds.
We learn that the same report has reached Raleigh
and other places through the Express Our own citizens
Of course not little surprised to learn that a
Bank with which they were doing business every day
had failed without their knowledge of the fact-thc
Bank being open day after day from or Q o'clock in
the morning till or i'll the evening, doing her usual
amount of dscounting but sign of fear, run,
nj Err, anI-a cd I+I
So far as this community and the surrounding country
arc concerned, should not feel called contra
diet notice the report of the Express, but many
honest persons may hold handle the Notes Of this
Bank at distance and in consequence of the rumoI
be Induced by Sharpcrs to sell them at heavy dis
count feel it duty and take pleasure in inform
ing such that there is ground for the report-tha
the Eank has not facd-and moreover, that it is as
,rou" ROM, if stronger, than has been since
organizations and therefore they need not part will
& Notes for less than their full value.
Although this Bank followed the leading Institutions
ofthc State in suspcnding last Autumn, it has
fused coin for in the hands of travellers
citizens who desired it. Besides, in order t.
cuaiize currency much possible after suspension
received and paid out at par rauc the notes of al
good Banks from Maryland to Louisiana.
We have disposition to lecture our worthy cotcm
orary of Petersburg for he has no doubt been mpoe'
upon, las the fraternity often by designing
hut think the Press generally should be more eau
tous i'll spreading reports of that kind (Which may oc
c,son parties serious oss,) without the most I'm
questionable evidence of their correctness Banks ar
much injured by such reports as Individuals TO
with the former it may only cause a slight loss q
profits, but with the latter half of their earning
may he lost and go into the pockets of inscription
land-<hark We have heard of one poor fellow actin
upon the statement of the Express, submitting to
crclcSs share whilst the ShGrcr, Immediately after
wards refused take the gold for the notes he had re
ccvcd.
We close this article which we intended at first t
he a simple correction of the Express statement, b
saving that the Bank of Charlotte is regarded here
only sound, but good any other Institution
the State We learn that its stock is in great deman
here at $llO to SIP.