The New York herald., 1864-10-06
4 exe4arN -. r..
! ItfG FIhANc,fAL CRISIS.
&a ~~--~>~~S<->s- r-~>~-~-~~~f
Additional Particulars OF the
PanSe In Chicago
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FAILURES or BANKING INSTITUTIONS.
q etu -~--~--~-~--~~~->-~ss Ht
Produce Spectators Going
ses5 5a. by the Board.
The People Excited and . Mob
Threatsnsd. At
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INTERFERENCE CT the MILITARY,
40, - ..e - -
IFrom the CHICAGO r, n... oc,. 4 ,

tFrom the Chicago II mes, Oct. g. a.iMl
| os.uroay morning u WAS generally made known thaf
the western Marine and Fire insurance Companys bauk
naa isiied ana WAS unable TO meet ts liabilities. This,
although unexpected but following the example tnat
had bcen set by other the two days
ine public are aware that within the hours
number OF banking Institutions have been closed in
which tho strongest conHdeuce has hitherto been felt
iois ms ortune. ar raner this or misfortuues
cannot be hailed the precursor or general papic II
~ larry known TO mon actively employed in important
branches oil business that the present bank failures
The result OF disastrous s ecua,ons and were rretr,oy
abe wheat seems 10 bave doue the mischief directy
ahough gold AZ is always the the OF the
s Ten ssys 70 as sa MARKET wn I tine
the grain market, in which majority Of leading
have failed within the last three days are those o.
Parks Co J o. Conrad, and the Western Marine and
named created but little excitement ana was received a.
any other similar circumstance has been receive hereto
lors-wisa signs OF niue much dssssscion sos anger Of
therefore unworthy waste OF argument But the latter
Was more unfortunate In the failure Of the Western
Marine and Fire Insurance Company the public, large
| portion thereof at least, saw what they readily
construed into dsl'0erAss robbery. How far this
readers to decide, which will be decision between
the assertions OF lew cool beaded individuals inter-
es'ed and an excited multitude similarly concerned.
The circumstances cannot be more plainly briefly
staed than as ioliowsln the Western Marine and Fire
raIsed by subscription Twelfth ward Of the
draft had deposited the close banking hours
Saturday morning aud scarce had the drawing
ceased whom the dngs spread abroad that the bank
L
post had made only the day previous, the entire
citizens OF tho Twelfth ward felt that che bank had deli
money wonder their indignation oul.
minated III threats Of vengeance. BY say 10 not
the contrary could be otherwise than condemn.
cd oy all peace loving ana Law abiding citizens What
ndiscretons the excited passions OF crowd OF people
led them 10 commit win be apparent from what foows
ASSEMBLING or THE CROWD.
At half past one O'Clock crowd began to gather in
front o the the southwest corner Of State
Grsdu md con N uAll hrOu
was augmented until two O'Clock, when II was esti
Tho o ha ns
crowd we're loud and bitter and there was no cessation
until there violent assault upon gentleman con
LeCted win the institution. la.
ATTACK UPON A BANK oFFIcsR.
Mr. Frederick Tutte, Of the firm Of rustie, Hibbard
Co.. formerly president Of The Western Marine and Fire
Insurance Bank, and at present stakeholder,
ing out Of the bank, through window whom he was set
orSwd u 81 az :. a. d n %
began arrive and might have stopped the disturbance
wi'hoa: much difou.y bus suddenly they found their
subordinate and inferior By the unwarantabs and
cusable, not 10 say outrageous, r
INTERFERENCE OF TEE MILITARY. .4
Major Samuel K. Williams OF the Eighth veteran Re.
serve Shauced 70 b. passing through the crowd and.
toaal honor. appealed half dozen unarmed soldiers
who lettering In the vicinity 70 stand BY him and
n.p % SsRs.s. ss osowa TN nsn sGsH:
cripple IN the meantime did charitable action With
s %n9 M NV vas S holding n% a drs s
TO tho ground From that time forth the major like
terrier in re-, pen He from one soldier 70 another,
borrowing rcvolvers until he fairly groaned beneath
almost unsupportabls weight Of sideAms Such vaor
bo then and there displayed has never bees witnessed
since the days OF Don Quxotte And this too all
voluntary without socisaton without request without
| . shadow OF authority.
tcred Senses after his terrific victory despatched
70 the provost guard with instructions to report riot in
progress
SIGNS OF INDIGNATION.
During the absence OF the messenger, eI.Aldermsn
OF the bank and addressed the crowd which had aoy ia
eased to alb ut one thousand persons IN w brel 70
the Twelfth ward In the s2icn - ue bank and thought
,ney sh0s,a By some m.e.sns recover their losses.
zanyAL OF THE rsovosr GUARD.
Mr. casseman had scarcely concluded his remarks
by Capt Borg, arrived the spot The rlops came 10
irregular order, between double quick time and run
laughter by the assembled hundreds OF Interested PER-
sons and idle spectators II was peculiarly fortu,
B. sweet, commandani oi the post Of Camp poug.
las, should arrive by accicn. over the State street
pressed by the importance OF his mission, and the
maslnsd facts va! and his iSTses % only r0,sse wsr9
ns ey a1yea pol @ ,acT ' ysps uss
mnuows 20 Il ROiS The ocean coms With he sod
Colonel swse. immediately ordered The arres. Of Mr. Cas-
eelman and Frederick Edar, OF the Twelfth ward for
incipg mob These ineh we're placed under guard and
The senres ordered 10 shoot them they attempted 10
escape. -.
Il was not long after the arrival OF Colonel Sweet until
there arrived another detachment. Of the provost guard
Sweets ascending tho second story Of the bank build
| ing and addressing the soldiers a. follows
"Nsw disperse the crowd"
The dspersing commenced the instant The soldiers
Termed In patoons and marched right and let, north,
east south and west and OF course the crowd receded
be he Tue people, instead OF leaving the scene al
together took however position In solid phaanxes
this time hr. Frederick NtoHsl German citizen was
arrested and placed In the temporary guard house 90 tho
A TIMELY IrrsscsssIos.
Colonel r ~ Hough, having arrived at the scene Of
IN aueiiins il In decen1, gent snsny way He calmly
and briefly addressed the crowd telling them ne would
money bsIonsng TO the Twcn ward could recovered
This received with cheers BY the lis
teners and they seemed satisfied.
little alter ave ooiock Alderman Casselman appeared
that he had received promise that the
sn 70 tine hoars os Monday
had teen obtained through the exer,ons OF Coone
hearing Of ALI and the crowd dispersed WIN cheers
the utmost good humor.
tFrou the Times editorial
Experience however costly, does not much avail 10 tns
relations between public and banks. " !, did avail
many rcople would not be suffering from The
failures or banks aud bankers which
during TIE past Two days No,orou,y these banks aud
baokeTs and others which We might name, have not
confined themselves 70 ms .ng Vs'ss ,ns anss :;
tier dcloeorr IN Specializing and gambling Operations,
ana toe misesfrase ., ,ness opeahs ,.a 'aa.
made " lber moLey and yet hey have continued thsr
deposits They need not be, and presume they afe
nu,, surprised tnat they are losers They deserve 70
1 be losers. a bank wbich does not counue lset 70
legitimate banking business u oct Asfe place 70 deposil
money; O. late u Will be oyertaken by etamy
and ins depos ssong with H. lie banks and osnk7fs
10 Chicago VINO oDupg over 20 hepissay bAve oeen
| gambuug IA stocks aud gold aud wheat end az otusr
lnings aud II u lhe decline a values which nss
breuglt lh,m d0Sn. They ought u come down, anu "
ought every psrk dpNo shcn abandons iesilf
| mate Dsax ne and fails T. climbing
Where tie orssh sh stop, here And es Nhegc IenAin
/ 10 be seen. though severe, eih Be beautiful Vi
course the primary evil 10 10 the nAtaEemeut % tAo
rational finances, which has stimulated speculation
gambling, trading, extr0yasance, ana every con-