The New York herald., 1868-05-09
COLLAPSE OF MORE EoTTEH BANKING INSTITUTIONS
Failure Of IA Banker in Western New York.

tFrom the Syracuse journal. May IL
The telegraph yesterday announced the failure OF
Mr.. III. J. Messenger, well known banker, who has
Tor many years resided at Cortlandve and had
ba Ks at that place, at Canton and at Canandaigua,
and banking houses In New York city, Marathon and
Heraimef. These banks were state Institutions. We
learn that the failure Is for about half million OF
dollars. The cause was considerable losses in stock
speculations. the failure OF New York city hrm
dealing In dairy products, involving Mr. Messenger
to the amount OF about hundred thousand dollars
and the loss OF nearly the same amount In ali over
land carrying enterprise. AS Is usual In the
country, the demands upon the banks the
heaviest during the months Of August, and after a
arrest the disaster inability to meet the demands Of
depostors at his several banks the result yes
terday. Mr.. Messenger last evening, at Cortland
made an assignment to Nessrs. Horace L. Goodrich
and Horat.o Ballard; ne made no preferences. The
assignment includes his household effects and real
estate that ne some time ago settled upon his chill
dren. He held large amount OF real estate, which
Is nearly al subject 10 considerable encumbrances
II Is stated to Us that his assets viii not pay more
than ten or twelve per cent OF his liabilities. The
deposItors In hs banks are losers 10 large amounts
aad some OF them viii suffer hardsAips. Mr.. Mes
senger had been considered q wealthy and prosper
ous banker and operator. lie was quite public
spirited and has done great deal for the improve
ment Of tie town in which he resided.
From the Ontario IN. ~ Messengerl
Considerable excitement was created In our streets
yesterday by the sudden closing of the doors OF the
Bank Of Ontario about hai-past one p. NJ and the
display OF pIacard In the window as follows:
HJ Messenger the President Of this bank has suspended
payment and therefore we aEe gSEsa EMy ~ si9ie
Nothing beyond this announcement Is known In
regard To the matter. MIR Messenger has been doing
business here for many years and every confidence
was reposed in his honor and integrity. Large
bers Of business men, farmers, mechanics and labor
OF this village and vicinity including many poJr
women, have Tor years made tue Bank OF Ontario
tie depository OF their earnings, and It's sudden col
lapse will create great embarrassment II not sulcr
ing aud rum among them. In common with otier
Interested parties, We aaXiously wait further deve.-
opinents.
Mr.. Messenger, we learn, has several other banks
In different parIs OF the State-one at Cortandviie,
one AZ Canton, at Herkimer, one at Marathon,
and perhaps Other places and 1t Is said has cashier
here was AT neighbOrng village negotiating for the
opening OF another at that PLACE when the telegram
10 close up was received here Mr.. nj. also had
bhkng odicc IN New York csy, and II Is understood
that he has been Largely engaged In Wall street spec
ati1ns, and that the deposits at these country
BANKS were swallowed up Ia ina great vortex oi de-
pDvliy. t.f
We desire to say that the failure OF the Bank OF On
afo does not IN the least aect either OF the other
banks OF our village. They are doing fair and egiti-
a1e business and we believe perfectly sound and
ieliabie They do not engage In fancy stock specu-
,atohs and II would be Idle for depositors In the
ilst NATIONAL Bank or Beal's Bank To be alarmed for
.s'c SAFETY Oi their money. Mr.. Messengers suspen-
@ s,on hs undoubtedly been caused by his extensive
opsfatlOns among the bears and bulls OF Wall street,
anu ais ambition 10 become one OF them.