Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1876-03-15
LATE TElEssAMs.
ssspsssis. Of sAs BASH q The ssass
Ofueu York.

Of shs BASH % The seass
REV Ysrh.
NEW YoRx. March 1.-The Evening
.Ost says the Bank Of the State Of New
York closed II doors to-day BY reason Of
10 having been thrown out OF the Clear
Committee. The action VA
aiken altar an Investigation suggested
BY the Bank Examiner. Mr.. Msies. Who
iound the sffAirs OF the bank In . bad
condition. there having been large over
drafts mads BY spectators In merehan-
disc. The Clearinghouse win have .
full meeting 81 5 ?. \. 10 rahfy or dis
approve the action Of the Clearinghouse
The capital Of the bank 10
u. 000. 900. By last Saturdays state
mont IL had leans Of o. $50, 900; specie.
$325. 900: legal tenders. el.095. 900;
S250. 900. and deposits. $2.-
s55. 900. At the Clearinghouse this
morning Il was dsbitsd with $i0i. 900.
which was paid. The depositors in the
bank will lose nothing. neither will note
holders. The total loss falls on the
stockholders and Il 10 thought that the
capital is impaired ons-half. The sx-
animation Of the Affairs Of the bank Was
begun by Mr.. Msigs some days ego. He
found that irregular loans had been
made TO produce dealers and that . great
many bad debts we're the result. Among
thsss debts are aoceptances OF Duncan,
sherman Go. TO the amounted $40. 900.
and there are other debts In sums vary
ing from $40. 900 10 $40. o00.
When these facts were ascertained.
the Bank Examiner reported to the
Clearing house Committee, and at the
meeting this morning u was decided
that . Receiver ought 10 be asked for
and the bank closed. In accordance
with this view. Mr.. Msigs at once tele-
graphed TO the Controller Of Currency.
John J. Knox. for the appointment OF a
Receiver. The result OF the investiga-
ton OF the banks accounts tends to
show thai its failure will not Affect any
other banks. and Il Is thought tho fail
urs will not be followed by other hnan-
cial disasters. Mr.. Patrick. Vice Presi-
dent OF the bank, underwent q long en-
animation before tho clearinghouse
Committee this morning. The news OF
the suspension created great sIcitsment
at the Stock Exchange. The Pos, In
In financial article. ssys: "The effect OF
the closing OF the Bank OF the State Of
New York al the Stock Exchange was to
create q Wild excitement, during which
there was . sharp decline in prices.
This continued for only . short time,
whom the facts became known and prices
recovered part Of the decline. In the
gold market the effect Vas 70 put the
price up to lis. from which Il has since
fallen TO iiis.. The contemplated &C.
ton Of the Clearinghouse Committee
was 90 secretly kept that many bank Of
icsrs not connected with the committee
we're o. much surprised q was the
street. Mr.. Msigs. who brought to light
the unsoundnsss Of the bank. IL an Of
Hcer above reproaeh. His whole time ID
devoted 10 examining New York banks.
and Il II proof Of their soundness that
he has discovered that only this one ID
weak" a
It Is stated that the bank permitted
one concsrn TO ovsrdav $ii7. COO. and
accepted a. security for the overdraft q
patent about which little IL known.
In point Of reality tho failure Ia Of no
commercial or financial importance. IT.
entire eject will not b ons-fourth 81
great n that OF the failure OF Duncan
Sherman 4 Co. Il was found that i'd
vances to q considerable amount had
been made on grain in transit on bills oil
lading. which still remain In the bank,
bearing dates two years old. Il 10 said
that the Vice President Of the bank has
been specializing on the Produce e.
change. The course OF the Clearing
house Committee in regard TO the Bank
Of tho State OF New York was unani-
mously approved at O meeting Of the
Clearing house this afternoon.
The Express says: Tho Bank Exami-
nsr last week mado q thorough exami-
nation OF the bank. and on Saturday re-
ported to the Clearing. house Committee
tho unexpected fact that In his opinion
the institution Was insolvsnt. Late that
day the Conference Committee was
called together and this morning they
held another meeting. Dsnning Duer
and Richard Patrick. President and
Vice President Of the bank. we're sum-
monsd and their explanations not being
satisfactory the committee resolved TO
suspend the bank from the privileges Of
the Clearing. house and called . meeting
Of the association this afternoon. The
ovsrdnfts are stated 10 mount 10 about
$500, 900 and tho name Of q OF the
officers Of the bank 10 rumorsd to DO
connected with them."
Nsv Hsapshirs state Eisesiss.
Bosrox, March IA special dispatch
from Concord. New Hampshire. says no
result OF the election DO reached ill
after midnight Reports from various
towns at noon indicate Republican gains.
Littlston 10 Democratic on State and
county ticket. In Harrisvills the Re
publicans elected their Representative
By one majority. In every town. II II
said, evidences OF frsud on both sdes
ara apparent and challenging at the
polls 10 brisk. In Portsmouth some o..
element was caused BY the Democrats
challenging r. II. Kent. United States
Detective. but he finally gained his point.
Dover shows Republican gains up TO
noon. Southampton slects . Democratic
Representative BY two majority.
Returns from seventy-four towns In
New Hampshire show Republican gains.
CoSconD. N. H.. March 1.-THE vote
up 10 noon has been unusually large,
and the Republicans have made an In.
crease from Last year. They will doubt
less gain between one and two hundred
over last years vote. In the central
wards-ths fourth. sixth and seventh
a count VA made at noon which gave
on the State ticket $50 for Cheney. Re
publican candidate for Governor. and
$50 for faro the Democratic candidate.
George Z. Todd. the Republican candi-
asts for State Senator In the Fourth Dis
lrict. Is running considerably ahead Of
his ticket In this city. Disp~tches Civ
ing votes 20 far have been generally "a
to the Republicans.
A summary Of all returns received up
10 I O'Clock Is a. follow: One hundred
md niuety.nine towns and wards give
Cheney 81. 7e3 and Marcy Is. 93G. Ken