New Orleans daily crescent., 1860-10-09
NEW YORK CORRESPONDENCE.

I &
f Eg w y I In MY AFrrc,l
New York, October 5, 1850.
Mr. Editor We have had what the French
would call one grand sensation.
The Artisans Bank has gone to eternal smash
| stopped payment, busted y and all that sort Of
thing The whole story about the smashing Of this
concern is rather curious, and may be instructive.
Politics, finance and art are ali mixed up in it. 1t
seems that the bank was chartered about four years
| age by a number Of financiers of the Harvey Bur
dell school, bank directors who were continually
hard up. They managed to worry through the
crisis of 1857 when all the banks, good and bad,
/ were in the same box, and very bad box it was
| too But the concern was always considered
! rather shaky about its pins. There were a lot of
queer people aboutit. Platt, the cashier, is man
/ Of reputed wealth. The Herald puts him down at
two millions; but that, apprehend, must be taken
with grain Of allowance-say million grains
| The cashier Tooker. is curious individual, al
| ways running about the theatrical people. He
| was, and perhaps is now, President Of the Men
dlessohn Musical Union a "bob- -tailed' philharmo-
mic society, and was a great friend Of the Bourci-
1 caults and Matilda Heron, when they ran together
4 couple of years ago. Through Tooker, q good
many of the show folks kept their accounts at the
Artisans, among others, Bourcicanlt, Barney Will
liams and Heron. The discount clerk was Tom
Picton, a thorough Bohemian. Tom had been in
at the death Of large number Of newspapers and
it was hut natural that he should help to kill off a
bank. The fate Of the institution was precptated,
however, by Mr.. Benjamin Wood, the brother Of
our charming Mayor. Mr.. Ben Wood is in every
sh'ls. ne opela.es y iot'e'ies - panAs' - iAi'-
Ways - eroe.ils ~ ,eai - ~
i peis, =, s.ooAs VI -. A So 80. go !,
'ahes ',oy sa5 ~ y
i sessfns ~ ssss !. go
n inses'eu - sno A'.,sans AanA ssoeA soAie
tilie siiice Az lnen seooa az oo u 'nel leaoou's'
tpaf ioo.) behlainln ihouVeu hs proehef' .ae
Mayor 20 remove a. " otouD' tne oi1y ehaihDsf-
lam, ana appoint me Fresideht OF Inc Artsans IN
/ ms pace. Inc eiect oi TINS was ~ cnahse 'ie
CITY depesits rom the snoe ana Leatner BANK over
1 to the Artisans. Ihe STOCK OF the iatter concern
went up htale, bnt was soon shocked Gown py q
/ feroclous onslaught N the Times, Wmcn is owned
4 by STOCKHOLDERS who don't cotton TO Ben. WOOD.
Then the Artisans mad difficulty with the clear
ing house, and settled their balances through the
/ American Exchange Bank, which latter instltl-
/ ton soon dropped its protege. The Park Bank
/ next attempted to carry Platt and his friends
| along, but finally gave it up as a bad job. The
1 stock fell to SO, q don't know whether or not
| Wood was bitten, but reckon ne got under smell
/ ter before the shower commenced1 and on Mon
| day run was commenced on the bank. Yester-
/ day the concern stopped payment and although
/ the gay Tooker declares that everything will be
/ right the depositers are net so clear about the
matter. 1t is the old story about the assets cover
1 ing the liabilities and so on.
4 AT the risk Of boring you LII dgress for mo-
ment and tell story about bank suspension. I
believe 1t has never appeared in print. You may
remember that in 1861, just before the CRISIS the
| old established banking house of Green y Co.. in
Paris, stopped payment. It was very tight times
for some OF the depositors, American students
who had no money except the sums they had lett
in Green's hands, and knew not where to raise the
funds to live upon during the five or six weeks
which must eapse before they could receive remit
tances from home. When they went to Green's
they all received the same reply, livery sorry but
really we can't do anything for you, think the as
| sets will cover the liabilities and SO on.
After the run on the bank had partially dried up
| one of the partners ventured into the office. He
\ was Immediately aoilared by Q Mlssssippian who
had been proving about the house for several
| days. " LOOK here" exclaimed Mississippi, |
| want my money Sorry, very sorry was the
reply, but really, MIR. -, we can't do anything
for you to-day. we believe the assets will cover
| the liabilities and there Will be meeting -"
oh the assets and the liabilities, and the meet
ing, altogether, you've got my money and want
it. Now look here drawing revolverl, you
knew my tatner, ana must remember that ne
would shoot on d small proyoeahon. am his
soh, anu nave great proVocatioh. nave no
saoney, no Irlenas' ana must starve II you don't
shel ous oo ~ give you 1Wo minutes tlme 70
deeioe, ana lneh Y you aoh seraPe out something
iof me q ploW your u Drains OUT.
Inc pahhefsaW tnae ms customer WASH earnest
ana neing tnorougny itightened' SCI ms clerks TO
Wofk anu managed 70 ~ togeener couple Of
hundred aoilars. WIN winch our soalhefn irlend
lnaae SNORT Work ut ene chaeeau ae Moulh houge.
! Wlsh somenoay Woula ny ehe same game on
loohef 8oaiu " ! pe luh
me Rflnce q wales Is working along towards
the Empire CITY. Tomorrow he Will be received
at washington by James Buchanan, who gives him
two dinners-=awtul bad ones they will be, too. Do
yon know that James Buchanan actually gave out
the White House dinners to the lowest bidder, and
pays traitear 30 much per plate for his guests /?
1 That is d fact All you have when you go to the
/ White House is an Internally bad imitation of a