The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1873-09-26

stated, Kiohaad 50 s dsSIinss ansioIpasins -
the "a bonde. which mature December
and January. q. H:s -sts
The City Savings Bank, known as J.
r. Ruff's. after 1--we days run, posted
the sixty days' notice clause.
Tho President and Secretary OF the
Treasury. in conference this evening";
decided that the Treasury will pay out
no more currency; exoent for ordinary
disbursements. aE q
$4,000. 600 In currency remain in tho
Treasury for current purposes. Richard
son will only draw on the 40, 600. O00lre.
serve for necessities OF the Govern.
ment. He has helped the banks by
issuing $4,000, 900 for bonds and they
must now take care OF themselves.
CHARLRsToN, September 25.-There
is no run on the banks. The Freed
mems Savings Bank exacts sixty days
notice; the other banks pay as usual. ;,
SELMA, Ala. September 25.-The
Selma Savings Bank has suspended;
assets believed ample.
SAVANNAH, GA, September 25-A
run commenced early this morning. on
the savings departments of the Savan-
nah Bank and Trust Company. aud the
Southern Bank of Georgia, and large
crowds are oongregated. The banks are
paying dollar for dollar Business is ut
a complete stand-still, for luck of cur
rency.
SAVANNAH, September 25.-The run
on the Savannah Bank and Trust Com-
pany ceased at noon, but continued ON
the Southern Bank of Georgia 10 the
close. The Chamber OF Commerce ia
considering the matter.
AUGEsTA, September 25.-The Ma.
tional Exchange Bank, Merchants and
Planters National Bank of Augusta,
and Planters Loan and Savings Bank
have suspended. The run on the banks
has been heavy. especially this morning.
Cotton is coming in freely, but there is
no money to move it. The First Ma.
tional Bank paid out us usual. bnt there
appears to be no serious run on it; the
President will pay as long as there is II
dollar Of currency in the vaults, and
there is confidence that it will weather
the storm. The suspended banks have
ample assets, and will meet every dollar
OF liabilities when the pressure eases off.
Commercial circles are hopeful, and
there are no suspensions among business
men. A large meeting of merchants at
the Exchange rooms appointed COM
mittee to wait upon tile directors of tho
Georgia Railroad and Banking Com
pany, and other bank, and request
them to issue some medium OF exchange
to bridge over the present crisis. The
banking house of John j. Cohen Il
Sons has suspended; their assets are
ample, but bonds and stocks cannot be-
sold, AS there is no market for the best
securities, even at sacrifice.
ATLANTA, .Septembe. 25.-The Dollar
Savings Bank has suspended; ample se.
curities.
New ORLEANS, September 25.-A
meeting Of all the bunk presidents e1-
oept two resolved to pay no checks over
SlO0; larger checks to be certified. This
laets thirty days.
MEMPHIS, September 25.-The First
National Bank Of Memphis suspended.
DETROIT, September 25-Two bank
ers have failed.
CHICAGO, September 25-The Chi
oago Clearing House has resolved, until
further action, and in view of the dis
tnrbed condition of Affairs in New York
and in other cities. and the difficulty
IN converting balances in currency, and
on advice of the Bank Examiner, our
members be recommended and author
lzeo 70 suspend currency payments on
any large demands made upon them.
either from country banks or over their
counters.
ST. Louis. September 25.-It was
decided at a meeting Of the brokers,
held last night. to suspend payments OF
checks or drafts, either in currency or
exchange, until the excitement in the
East subsidies, and firm condition in
tho market is restored.
MEMPHIS, September 25.-Tho bank
failures are attributed to inability to
realize upon securities in New York.
The, First National aud Kelso Banks
have suspended; there is run on the
others.
C1No1NNA1I,. September 25.-The Gin
cinnati Clearing House Association has
just adopted a resolution, that for the
protection of,our commercial interests,
and Tor the purpose of preventing
drain OF currency from the banks and
bankers Of this city. We do hereby agree
to adopt substantially the plan adopted
in New York, viz: They will not pay
out currency on checks except for s,onll
sams, to bo optional with the banks
upon whom they are drawn; but thew
will certify checks drawn on balances in
their hands. payable through tic Clear
inn Houoa orlv