New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1866-03-30


A telegram from San Francisco, dated March %,
quotes stocks as follows: Gould d Curry, $l,o1o
bid per foot; Savage, 81, OS5 bid per foot; Choar-
Potosi, 1926 bid per FOOT Ophir $735 bid per FOOT
Hale g. Norcross, $3.50 bid per foot; Crown Point,
81 .375 bid per foot; Yellow Jacket, $500 bid per
foot; Alpha, s4l0 bid per foot; Imperial, bid por
share, 1870; California Steam Navigation Co., 81
bid per cent.
The Tituscine Herald makes the following state
ment in relation the recent suspension OF Culver,
Penn g. Co.;
Mr.. Culver was largely interested in the banking
business throughout the country but not especially so
in this city The Petroleum Bank We understand Is
the only institution affected by the failure mere MI
Culver was small stockboder in the First National
Bank, but the latter had overdrawn ne account WIZ
Culver Penn a. Co.. and is consequently ON sper'ecty
sound and reliable basis Its resources are ample an9
all demands from depostors can be promptly discharged
AT the counter. The Second National Bank had no
business connection with Culver Penn CO. They had
no stock that institution which Is probably the only
bank in the oil regioouside of Pithoe CITY ana runner
entirely independent'Of the firm The banks in when
the New. York house commonly reported 20 be IN
terested and which, II So most likely TO be lnluri'
ousy affected by the failure, are as follows; Petroleum
Bank Titusville; VenangO County Bank, frankllni
First National Bank Cory Bank OF Lawrence County
Newcastle; Crawford County Bank, Meadyile; on
City Bank Oil City; First National Bank, Planners A.
I'D. Cotton 20, GetTOicuH teIUts NcIe psh'i
banks in various parts Of the countryone at Bucyrus
Ohio one or more in Indana-in short total OF 10 all
OF which we believe made their deposits with Culver.
Penn Co. New WORK. AT the time OF the failure OF
Morris Ketchum a. CO., New. York. Culver, Penn a.
CO. succeeded 20 the distinction Of being the heaviest
banking firm in the United States and were regarded
as the sounde In what degree the issues Of the above
banks will be affected IL is impossible TO say. All their
currency cannot permanently deprecate for they are
nearly all National Banks. and hence secured by the
deposit OF bonds in the United States Treasury That
their depositOrs must suffer is inevitable but II Is
satisfaction know that the First and Second National
OF Titusville are entirely unaffected BY the crash We
sincerely regret the disaster not alone on account Of
Mr. Culver who has been Of the most en-
ergetlc, philosophical and successful business
men Of the oil region, but for the tempo
rary commercial arrangement which must naturally en-
sue in the oil producing region There Is however, no
real cause for jisrust and alarm In this section The
deposits ere large and scattered all over the eoun
try Asregards the condition OF the First National
Bank here, which rumorshas classed with the Culver
Banks we are authorized 10 say that Mr. Culver owns
but a very small amount OF s stock that the bank had
no funds In the hands OF Culver Penn Co.. and that
all drafts made by this bank upon that firm have been
provided for of another EewYork institution and VIII
be promptly paid presentations and finally. that all
depositOrs can have their money on call.
The exciting cause Of the failure 20 be found In the
magnificent bat astounding scheme Of building me.
trOpolitan city-Reno-st point between Franklin and
Oil City, on the Allegheny River.