Wilmington daily gazette., 1873-09-23
RAs elaansaAa EsauS.o..
THE SITUATION IN wfLAGIHafoN-Ko sRRIOus
DKRICULTY ANTICIPATED.

THE SITUATION IN wtLA1IHafoN-Ro sRnIOus
DWFICULTT ANTICIPATED M
Ihe snsPenslOn Of the firm Of John McIear
9 con, DAnkeEs, yesterday (bFieny mentioned n
the dAzEFTE) cauSed quite an exciteHent fsr a
time IN our financial circles. During the affer-
noon knOts Of people assembled In the vicinity
OF the firms banking house, 6O2 Market street.
OIseasslng the subject, and reading the following
announcement, which MessFs McLear q SON
posted up against the glass window In their
A"OWing to the shock to oar craait nv Tho ..I.
ugea Of Jay Cooke q Co., and Il. W. Clarke q
Co., and' In consequence, our inability to raise
meDt. ~
WehOpe to be able to pay all our debts in fall;
for our depOsltOFs."
This announcement briefly explalus the canse
% taSsr emOariaAaInent, and no other HoasOns
neeu &c adaed. but, as q natural conaa1uence
tne suspension caused feallng Of unsasiness
thelF IhOnled deposits wItkin their own Srasn. =
Hpr this reason, 1t was expected for awhile, that
to-uAy WOuld witness general run upon our
banks, bankers, and saving instltutIOns. But, by
thS morning The uneasy feelings had disappeared,
anu ane s'scn pIace TO those Of security aRd conf
dence Ia all our banking houses
There was very slight run upon the Citizans'
SaVi1g's Bank, but the Directors had resolved
upon the wise pTecautiOn of enforcing the two
weeks nOtlce clause In their charter and there
ioIe tnose ieW depOsi1ors who wished to withdraw
theH deposits were not allowed to do So This
rale will be strictly adhered to for a daV or two
Wheu' II the financial panic dlscontinues, the old
be resumed.
AT the Wilmington Savings Fund, corner of
Eighth and Market Streets no uuusual a., ,itement
has prevailed. Indeed, on Saturday, dark and
gloomy as was the financial prospect that day the
deposits here were larger than usual so great was
the confidence OF the people in this old and rela-
BILE institution. 1t is perfectly secure, and moth
nR Dut long confined panic can injure its credit
or dspiete its resources
The other bauks and. brokers ARE iappareattV
serene and AeeuHe, MesSGs. r. II. Rebinsop & "a.
announce their readiness and ability TO pav every
dollar Of their deposits, hut As yet, no run has
been made upon them.
On the whole, then, the financial aspect in
Wilmington, ls'rather encouraging than other
wise.
TIE EFFECT OF TKE TROUBLES Down THE
STATE.
With one exception we have heard Of no
dlmculty being experienced by any OF the banks
down the State, in consequence Of the financial
troubles rms exception is the Bank of SMYRNA.
WhOse Directors it is said are no Y in fear Of sus
taining the loss of 100000. This sum the Di-
rectoTs recently caused 20 be deposited with the
penklng house OF Henry ClsWs & Co, New York,
ahd declined to take collateral secarity for the
same, when ofegsd, 90 great vas tkaif Confidence
10 this nrm. But the events Of Friday and Sat
ufday startled them not little, Ond on SUNDAY
Naaians and excited intsrVisws we're held between
ths Preeidsnt aud the Directors. The result Of
tAe conferences was, that on MOnaAY morninR,
AyP8 SAocklen, Esq, President Of thS Bank, star.
Sea 4oT New KOEk, TO Obtain -ths coliutsral seen
rity, they had previously refused, or make Such
other arrangements as WOdld Be satisfactory and
safe.
The ab5Vo report We heafdthts morniug. thouoh
IA kat
gard to the amount invested. We hope, however,
II y 2 true, that the efforts 90 obtain the coats-
Ral oaeuRity mag bo suocessful, and that the Ban
may Do enabled to come through wlthOut loas.