The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1873-09-24

and if this did no, work he might stretch
a point, and go 50 far as 10 issue thirty
millions of the for5J5py million reserve,
and then stand by the county for The iusti
flcation.
such an emergency has probably never
arisen before in the history Of any govern
mcnt when the chief magistrate has
been summoned TO the commercial metrop-
oils by the imploring appeals Of the fnan-
cicrs Of the country, to save them and the
people from ruin but such scene has
been witnessed, on the christian sabbath,
amid the intense excitement of the popu-
lace.
THE NATIONAL TEUsr COMPANY.
of which James Merrill formerly cashier
of the Rutland county National Bank) was
Secretary, suspended on Saturday. \ run
on the bank was commenced in the morn
ing, and payments were freely made until
noon, when the executive committee dccid-
ed to recommend suspension, of which
notice was Immediately given and further
payments stopped.
Tho immediate cause of the suspension
is owing to the tightness of the money
market, the securities held By the bank
could not he converted into cash unless at
immense sacrifice even government
bonds could not be negotiated unless at a
great loss. The bank held 100000. The
directors, after long consultation. ccnclud.
/ Il 70 al 81, T. =
depositors, thinking il the wiscst policy to
close their doors temporarily until the rates
of the money market will warrant them in
disposing of their securities. 1t is said that
this institution is amply able to meet all it4
obligations.
! ME. MERRILL. NOT DEFAuflEE
\ cruel story obtained currency on the
street late on Saturday afternoon that Mr..
Merrill, the Secretary, was dcfauller to
| large amount, but II had no foundation
whatever, as Mr.. Mcrrills accounts arc all
correct Mr. Merrill being unfortunately
COMPOUNDED with Carleton, the absconding
Secretary of the Union Trust Company.
who proves dcfaulicr 10 large amount
The Unsuitable desire of s1me individuals to
attrack the character of others in the hours
of great crisis is simply damnablc, but
some men are 80 moulded that they must
malign somebody or die. for il is the men
tai alimcnt upon which they live. II they
would put dagger to the heart Of their
victim the murder would be far more hon
orablc in the eyes of their friends and the
world, than the poisoned arrows of hate.
malignity, envy and malice, with which
they pierce their victims
The capital stock of the National Trust
Company is million dollars. and among
its directors are many wealthy merchants
and capitalists; several of them individually
worth as much as the capital of the com
pany and more. ID. X. Mangum is Presi-
dent, b. l.. Solomon. Vicc-Prcsidcnt Ben
jamin +. Bancroft of Salem. n Y. well
known to many of your readers is second
Vice-President; James Merrill Secretary ;
Silas II. Withcrbee and William NJ Eyarts
are on its list as directors
The only other failures that have local
interest to your readers are those of Messrs.
ketchum and Belknap, brokers, "a Broad
street, and p. VI. Myers & Co.. brokers,
| Wall street
SERMONS on THE SUBJECT.
Rev. f. Dewitt Talmagc of Brooklyn,
and Rev. Geo. III. Ilepworth of New York,
both made the financial panic thetopic of
their discourse to their congregations; en-
pressing sympathy with the suffering
rather than speaking III condemnation
drawing important lessons from the excite
ment of the hour and giving uttcrancc to
noble expressions in reference to some of
the men who have fallen in this disaster in
the financial world.
The morrow may see quiet or another
day of unrest which possibly may prove
more disastrous than any that have pre-
coded it. None eau tell what Il day may
bring forth. c.