Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1873-09-24

again ip commotion. 1t was at length announc-
ed that the house of Henry Cews Il Co., an
institution that for supposed stability and the
magnitude of its operations was equal to Jay
Cooke T. Co. and Fisk & Hatch, had failed.
The feeling of alarm has begun to pcrmeate the
mercantile community, and the course OF the
New York banks in refusing accommodation to
merchants upon reliable paper, while IN state
of virtual suspension themselves, has tended to
increase it.
The Baltimore American says: Our Baltimore
banks have acted wisely in pooling their assets
in the Clearing House and thus making ready
for an emergency, but this must be regarded
as precautionary measure
The Baltimore Sun says Though there
is still much of 4 reassuriDg character, the COO
tiuued run on Savings banks in New York, aud
the complications of yesterday mix the sltus-
ton unpleasantly, and serve to Intensity APP
preheusion. 10 regard to the Petersburg banks
it is thought that some of them at least have
weak northern connections, or are the out
growth of banking houses that have had too
much TO do with speculative railroad enter
prises. So far as the herd of New York stock
gamblers is concerned they seem to have re-
sumed their wonted activity"
In regard to the suspension OF Henry
Clews Il 20. the firm states that durlng the
past four days they have paid one and ahalt
millions 10 money. They made the utmost eff
forts to raise money CD securities, but HIDING
it impossible TO do so we're compelled to sus-
pend They regard their suspension as only
temporary, and have no further statement to
make save that they deemed SUSPENSION ad-
visable." The cashier of the Fourth National
Bank, which threw out Clews Il Cos. checks
to the amount Of $500, 900 says the bank did so
simply because their account was not good.
There was 20 over draft but would have been
had the bank allowed it, The firm paid until
no greenbacks remained on hand, aud as they
could negotiate 20 securities, Of which they
had a large amount nothing remained but sus-
pension. Ccws & Go. say they had $SoO.O0
in securities in the Fourth National Bauk,
against which checks to the amount OF
$500, 900 only had been drawn. The firm paid
out 81 ,250, 900 in legal tenders to deposlors dur
ing the past few days Several capitalists have
offered assistance to Henry Clcws, one alone
tenderipg over one hundred thousand dollars.
The association of the Banks of Baltimore,
Yesterday resolved to adopt the plan Of the
New York banks for issuing loan certificates,
representing Is per cent Of bills payable or
other securities deposited by any bank with a
committee appointed for the purpose, winch
certificates shall be used 10 settlements ut the
Clearing House and be received by creditor
banks. The arrangement Is not to extend be-
yond the lst OF November next the certificates
into
government bonds, gold or gold certificates are
deposited, the Clearing House certificates arc
to represent the par.
The city of Petersburg had over two hun
dred thousand dollars in the suspended banks.
McIlwaine & Co., Of that city, one of the larg-
est commission firms in the State, are reported
SUSPENDED. The directors ofthe Citizens Bank
of Petersburg have decided to suspend.
A dispatch from Richmond, dated yesterday
afternoon, says:
THE feeling here this afternoon has been Que
of nervousness, resulting principally from the
news from Petersburg There have been 10
runs on any Of the banks; iu fact some Of them
claim to have done more business IN receiving
deposits than usual. The directors of the Dol
lar Savings Bank have decided upon Suspend
ing tomorrow. The President states that the
assets are more than enough to pay all dcpos-
tors but being principally in collaterals, they
are not imm ediatey available. A meeting OF
the officers of the four National Banks and OF
the State Bank Of Virginia and the Merchants
Banking and Insurance Company this evening
resolved to sustain each other. They expect TO
have sufficient funds tomorrow to stand any
run that may be made. !"
Telegrams from various points indicate an
improved feeling, though accompanied by some
untavorable reports. In Philadelphia all the
State banks that were under temporary dlthcul-
ties have resumed, except the Union and the
Citizens, which will soon resume. All the ma
tional banks stand firm. A dispatch from Wit
mington, DEL, states that Messrs John Nc
Lear & Son, Bankers and Delaware agents for
Cooke & Co., had suspended. Reports trolu
Trenton, N. j., are favorable with no failures
The run at Albany, N. Y, hes ceased. The
news of the failure of Clews & Go. had de-
pressing influence in the grain marketln Chlca-
20, but there were no failures and DO runs on
banks Of any kind, and all demands were paid
without asking notice.
There has been no disturbance in financial at:
fairs in Cincinnati, and nothing has occurred
there outside the ordinary routine, except the
rumor that ten millions city bonds for the South
ern railroad had been negotiated IN New \ ork
through German house.
A coored man named Buchanan, tried IN
Washington, yesterday, for killing his wife III
May last, was acquitted.
1t is expected that the President and his
family will return to Washington, and occupy
the Presidents House, on Friday next.