10151. First National Bank (Columbia, MO)

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 67
Charter Number: 67
Start Date: December 4, 1865
Location: Columbia, Missouri (38.952, -92.334)

Metadata

Model: gpt-5-mini
Short Digest: 9b30e86d

Response Measures

None

Description

Comptroller's reports (Dec 1865 and Dec 1866) state the First National Bank, Columbia, Mo., has voluntarily gone into liquidation and is now closed under section 42 of the National Currency Act; no newspaper text describes a depositor run. Closure appears voluntary and permanent with redemption of outstanding circulation by deposit of lawful money.

Events (3)

1. August 19, 1863 Chartered

Source: historical_nic

2. September 19, 1864 Voluntary Liquidation

Source: historical_nic

3. December 4, 1865 Suspension

Cause: Voluntary Liquidation
Cause Details: Bank gave notice of going into liquidation under section 42 of the National Currency Act and deposited lawful money with the Treasurer for redemption of outstanding notes; bank closed under provisions of the law by Comptroller's report.
Newspaper Excerpt: The first national bank of Columbia, Mo., has voluntarily gone into liquidation
Source: newspapers

Newspaper Articles (10)

1. December 6, 1865 The New York Herald New York, NY

Article from The New York Herald, December 6, 1865

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A Speedy Return to Specie Payments Required. Compulsory Redemption of the Currency Recommended. A Tax of Eight or Ten Per Cent on Cotton Recommended. Proposed Removal of the Currency Bureau to New York. &c. &c. ac. OFFICE OF THE COMPTROLLER OF THE CURRENCY, WASHINGTON, Dec. 4, 1865. SIR:-I have the honor to transmit to the House of Representatives the annual report of the Comptroller of the Currency, as required by the sixty first section of the National Currency act. I have the honor to be, very respectfully, your obeFREEMAN CLARKE, dient servant, Comptrolic of the Currency. Hon SCHUYLER COLFAX, Speaker of the House of Reves. preser ORGANIZATION OF NATIONAL BANKS. Since the last annual report from this office two hundred and eighty-three new banks have been organized, and seven hundred and thirty -one State banks converted into national associations, making the total number organized to Nevember 1 sixteen hundred and one; of which six hundred and seventy nine were new banks, and nine hundred and twenty-two conversions from State banks. A statement of the respective States and Territories in which each bank is located, the paid in capital, the currency delivered to each, and the bonds deposited with the Treasurer to secure their notes is herewith submitted also a detailed statement of the affairs of each bank on the first Monday of October last, with an abstract of their condition on that day, an abstract of the condition of all the banks on the first days of January, April and July, 1865 together with the names and com pensation of the clerks and other employes, and the total expenses of the bureau, for the fiscal year ending June 30, 1865 BANKS CLOSED AND FAILED. One bank has voluntarily gone into liquidation and has been closed under the provisions of the law, viz. First National Bank, Columbia, Mo. :$11,990 Circulat on outstanding 78,010 Circulation redeemed Lawful money has been deposited with the treasurer for the redemption of the outstanding notes of the above named bank, and the bonds withdrawn. The First National ank of Attica, N. Y., has failed, and receiver has been appointed to close up its affairs Its outstanding circulation, none of which has been pre sented for redemption, is $44,000 secured by $31,500 of six per cent and 500 of five per cent bonds. CHANGE OF THE STATE TO NATIONAL BANKS. By section forty four of the National Currency act any bank incorporated by special law. or banking institution organized under general law of any State, is permitted, on the performance of certain specified requirements, to be converted into a national association, with the same powers and privileges, and subject to the same duties, responsibilities and rules as are prescribed for the asso. ciations originally organized under that law. By the seventh section of the act amending the 'Act to Provide Internal Revenue to Support the Govern. ment, approved March 1865, the privilege of conversion on the part of State banks was extended so as to give ference those which should apply prior to the 1st day of July, 1865, over new associations applying for the ileges of the National Currency act. The result has been that nearly all of the S ate banks have voluntarily changed into national associations, and it is a gratifying fact that this transformation has been accomplished without deranging the business of these institutions or affecting essentially the volume of bank note circulation Since the amendment of the act, no national currency has been delivered to converted State bank until the circulation issued by it under State laws had been reduced below the amount to which its capital as national bank would have entitled it under the law and, as many of the converted banks had greater amount of State notes in circulation than they were entitled to under the national act, the result has been to diminish rather than increase the volume of bank note circulation. STATE BANK CIRCULATION. This restrictive course in reference to State bank circulation has been the cause of great complaint on the part of many or the banks- -more so, perhaps, for the reason that in several States the enabling acts ing consent to the conversion of the State banks to national associations, contain provisions nominally giving the right to erted banks to continue the issue of their State circulation for a limited time after the conversion completed. is It is, however, very clear that it is not the spirit or intent of the law to allow any national bank to have greater circulation than the amount prescribed in the act, and that after bank becomes national associat it 18, as provided in the forty fourth section of the law, subject to and bound to observe all its prov isions. À converted State bank unquestionably bound to redeom its State reulation and discharge all the obligations of the State institution, while any State enactments grant ing privileges or imposing restrictions in conflict with or repugnant to the United States laws are necessarily void. The national currency act permits the conversion of State into national institutions without reference to State laws, and it must be conceded that the laws of the United States are paramount to State tments The twenty third section of the act prohibits national banks from issuing or circulating as money any notes other than such as are authorized by the pro isions of the national currency act. If a national bank converted from State institution pays out and circulates the notes of the State bank which it is bound to redeem, it certainly issues notes prohibited by the act. If the ghts of converted banks to reissue the notes of the State Bank and also to receive national notes to the amount that their capital entitled them to were recognized, they would have had double circulati and the aggre gate at this time would probably have been two fold the amounts of their present issues. NATIONAL BANK CIRCULATION. The amount of national bank notes in actual circulation on the 1st day of October $171,321,903 last, was. The amount of State bank notes in circulation the same date, as appears by returns to the Commissioner of Internal 78,867,575 Revenue, was Making the bank circulation on the 1st day of last October 250,189,478 The amount of legal tender notes and fractional currency issued and outstanding on 704,584,658 the 1st of October, 1865, was National bank notes in the hands of banks 19,525,152 not yet issued. 109,152,945 National currency yet to be issued to banks Making the aggregate amount of legal ten. der and bank notes in circulation as au. thorized to be issued to and by the banks* $1,083,452,233 From which sum should be deducted, 8 ate bank circulation now outstanding that will be retired about as fast as na. tional currency is issued to converted banks. $78,867,575 Also the amount of "compound interest notes' converted into 5-20 bonds since the 1st of Oc44,417,329 tober last 123,284,904 The amount then left as the available cur. $960,167,326 rency of the country is. In order to ascertain the amount of actual active circulation on the 1st day of October last there should be deducted from the last mentioned sum The amount of national currency delivered tobanks, and not then in circulation. $19,525,162 National circulation not delivered to banks 109,152,945 Amount of legal tender notes held by banks, including $74,in compound interest notes 193,094,36 Compound interest notes, other than those held by banks, mostly held as investments by insurance and trust companies and savings banks, less say in actual circulation 121,314,195 Currency in the Treasury of the United States 56,236,440 Total $499,323,097 Which show the actual circulation to be. 844. 229 This favorable exhibit of the amount of paper in actual circulation owing in great degree to the accumula. tion of currency in the bands of the banks, in the ab-

2. December 12, 1865 The Evening Argus Rock Island, IL

Article from The Evening Argus, December 12, 1865

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DISTRICT OF COLUMBIA. The remainder of the secretary's report is devoted to the internal affairs of the District of Columbia and the attention of congress is called to the duty-resulting from its power of exclusive legislation-of making just and adequate provisions for its welfare, and for the improvement of streets and squares, the property of the United States. The Insane Hospital and Deaf and Dumb Asylum are stated to be under excellent management and conducted in a manner to deserve public confidence. A strong appeal is made for the erection of a house of refuge for youthful of. fenders. Comptroller of the Currency. The comptroller of the currency presented his annual report at the opening of congress. Since the report of last year, two hundred and eighty three new banks have been organized, and seven hundred and thirty-one state banks converted in. to national associations-making the total number organized to November 1st, sixteen hundred and one; of which six hundred and seventy-nine were new banks, and nine hundred and twenty-two were conversions from state banks. The first national bank of Columbia, Mo., has voluntarily gone into liquidation, and the first national bank of Attica, N. Y., has failed, and a receiver has been appointed to settle up its agairs. Nearly all the banks organized under state laws have voluntarily changed into national associations, and this transformation has been accomplished without deranging the business of these institutions or affecting essentially the amount of bank note circulation. No national currency has been deliyered to a re-organized state bank, until its former circulation had been reduced below the amount to which its capital as a national bank would have entitled it under the lawand as many of the banks had a greater am ount of state notes in circulation than they were entitled to under the national acts, the result has been to diminish rather than increase the volume of bank note circulation. The amount of national bank notes in actual circulation on the first $171,321,903 day of October last, was The amount of state bank notes in circulation at the same date, as appears by returns to the commissioner of Internal Revenue, was 78,867,575 Making the bank circulation on the 1st day of October last 250,189,478 The amount of legal tender notes and fractional currency issued, and outstanding on the 1st of Oct. 1865, was 704,584,658 National bank notes in the hands of 19,525,152 banks not yet issued National currency yet to be issued to banks 109,152,945 Making the aggregate amount of legal tender and bank notes in circulation as authorized to be issued to and by the banks 1,083,452,233 From which sum should be deducted state bank circulation now outstanding that will be retired about as fast as national currency is issued to converted banks $78,867,575 Also the amount of "compound interest notes" converted into 5-20 bonds since the 1st of October last 44,417,329 123,284,904 s

3. December 4, 1866 New-York Tribune New York, NY

Article from New-York Tribune, December 4, 1866

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banks to be excluded are the following COMTO NEVER COMPLETED THEIR ORGANIZATION so AS MENCE BUSINESS The First National Bank of Lansing Michigan. The First National Bank of Penn Yan New York. Second National Bank of Canton. Ohio, National Bank of Ottumwa, Iowa. SUPERSEDED BY SUBSEQU ENT FORGANIZATIONSWITHTHESAME TITLES. The First National Bank of Norwich. Connecticut. The First Bank of Utica New-York. IN THE HANDS OF RECEIVERS. The First National Bank Attica, New York. Venango National Bank of Franklin Pennsylvania. The Merchants National Bank of W Tashington, District of CLOSED AND CLOSING UNDER THE PROVISIONS OF SECTION 42 OF THE ACT. The First National Bank of Columbia. Missonri. The First National Bank of Carondelet. Missouri First National Bank of Leonardsvill New. York. National Union Bank of Rochester New-York. Pittston National Bank of Pittston Pennsylvania. con solidated with the First National Bank of Pittston, Pennsyl The Berkshire National Bank of Adams Massachusetts conolidated with the First National Bank of Adams, Massachus etts The Fourth National Bank of Indianapoli Indiana. con volidated with the Citizens National Bank of Indianapolis, In abstract by States. ot the quarterly returns made to this ending January April July and of of the condition state bank at the close of the last quarter, is herewith sub showing the names and compensation of the the total of the bureau for also is 1866, appended, into liquidation of going of date the last to the report the prior the Treasury of the United States the amount taken and oney lawful in with the Treasurer for the National Bank of Columbia Missonri. $11,990. Bank of Carondelet, Missouri, $20 500. year the First National Bank of Leonards Rochester of Bank Union National notice of going into liquida Bank of has a 850,500 $50,000 Bonds deposited $45,000 of Bank $250,000 Bonds deposited the Washington Bank of failed that of these failure of by during the last session of Con the First National Bank of Attica N. Y. on about 1st or the cent York on the from for of national has circulation State about of only currency the minds the system States four millions of dollars. distributed 81 1000.000 States returns no further of of the State The banks. upon for miscellasustaining toward preventing distr and possible financial REDEMPTIONS. of the for na redemption Chicago Louisy Pitts leveland. A New Ibanv York. Boston last the session New in Boston, either ses until the present as and Under the existing require York New redeem in $240. These represent in New ork redeemed of logical their conclusion. to obliged York New account idence that New York is the great center. in all sections of the Union is of strial indus interand the to design be of may and notes uniform these though view the end in pass direction, debts for of the payment financial system reoogthe by Gover ninent for ferred be should they the of ands trade. that debts will pay furnish of be their issues depreof the fall the country. this tax shall be borne by the people, the shall banks the reap be shall by furnishing duty and for thus This for uniform value. of grow ring importance, and one that presses for early banks in Boston New York and Philadelphia re in meet obligations United States. whether it gold and silver or legal tender notes, They are obliged by law to receive in of debts the notes of every other National bank: but they can compe their customers the same notes for their balances due from the banks and here lies a difficulty which will subject the banks in those cities periodically to very great The tendency of money to accumulate in these centers of trad except at certain seasons of the year when it needed to bring forward the products of the Middle Western. and Southern States- fact which cannot be stioned. These banks are obliged to all that offered. but cannot pay out. An escape from this may be found in either three different ways First, the banks may be reliev ed from the obligation to receive this currency in pay vment of debts or, secondly National currency notes may be made legal tender from the bank to its customers or else, thirdly, National cur rency may be kept at par by redemption at the great centers

4. December 5, 1866 The New York Herald New York, NY

Article from The New York Herald, December 5, 1866

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200.000 Arkansas Alabama Utah 100,000 100,000 Oregon 548,700 403,500 837,750 Nevada and 2 235,000 166.000 195.000 Montana Total 1,663 16 1,647 $417,245,154 $332,467,700 $293,671,753 From the number of banks organized, heretofore stated to be 1,663, should be deducted 16, leaving the number in active operation 1,647. The banks to be excluded are the following: NEVER COMPLETED THEIR ORGANIZATION so AS TO COMMENCE BUSINESS. The First National Bank of Lansing Michigan The First National Bank of Penn Yan, New York. The Second National Bank of Canton, Ohio. The Eecond National Bank of Ottutowa, Iowa. SUPERSEDED RY SUBSEQUENT ORGANIZATIONS WITH THE TITLES. The First National Bank of Norwich, Connecticut. The First National Bank of Utica, New York. RECEIVERS THE HANDS OF IN The First National Bank of Attica, New York, The Venango National Bank of Franklin, Pennsyl vania. The Merchants' National Bank of Washington, District of Columbia OLOSED AND CLOBING UNDER THE PROVISIONS OF SECTION 42 OF ACT The First National Bank of Columbia, Missouri The First National Bank of Carondelet, Missouri The First National Bank of Leonardsville New York The National Union Bank of Rochester New York The Pittston National Bank of Pittston, Pennsylvania, consolidated with the First National Bank of Pittston, Pennsylvania. The Berkshire National Bank of Adams Massachusetts, consolidated with the First National Bank of Adams, Masanchusetts The Fourth National Bank of Indianapolis, Indiana consolidated with the Citizens' National Bank of Indianapolis, Indiana An abstract, by States. of the quarterly returns made to this office for the quarters ending January 1, April 2. July 2 and October 1. 1866, with detailed statement of the condition of each bank at the close of the last quar ter, is herewith submitted, A statement showing the names and compensation of the clerks and employés and the total expenses of the bureau for the fiscal year ending June 30, 1866, is also appended. Two banks which had given notice of going into ligut. dation under section fortv two of the act, prior to the date of the lest report. have paid over to the Treasury of the United States the amount of their outstanding. circulation in lawful money and taken up the bonds which they had on deposit with the Treasurer for the security of such ne follows notes, The First National Bank of Columbia, Missouri, $11,990 The First National Bank of Carondelet, Missouri, $25,500. These banks are now closed. During the year the First National Bank of Leonardsville, New York, and the National Union Bank of Rochester. New York have voluntarily given notice of going into liquidation as required by law. The First National Bank of Leonardsvi has Capital of Circulation $50,000 $45,000 50,500 Bonds deposited The National Union Bank of Rochester has $400,000 Circulation Capital of $192,500 250,000 Bonds deposited The Merchants National Bank of Washington and the Venango National Bank of Franklin Pennsylv ing failed to redeem their circulating notes when presented for that purpose. have been placed in the hands of receivers, as required by law. The circumstances attending the failure of these two banks were fully investigated and reported by a committee of the House of Representatives during the last session of Congress The receiver of the First National Bank of Attica, N Y. has brought his labors nearly to close, and a dividend will be declared to the general of the bank on or about the Ist of January, 1867. The bonds deposited to secure its circulating notes $31,600 of six per cent and $18,500 of five per cent bonds, were sold at public acction in the city of New York, on the 8th day of October last, in accordance with the provisions section 48 of the Currency act The net amount real. ized from the sale was $51,556. Of this sum, $44,000 in lawful money was deposited with the Treasurer of the United States. for the redemption o: the outstanding circulation of the bank, and, under Instructions of the receiver, $7. 550 was paid into the treasury, according to the provisions of section 50 of the act for the benefit of the general creditors of the bank. The amount of out standing circulation redeemed to October 1 was $5,220. With these exceptions, the national banks throughout the United States seem to be in sound and healthy condition, as evide need by their quarterly to office, verified by carefo examinations made by agente appointed for that purpose Their total the of October last were $1,525,493,960 their liabilities to the public for circulation and deposits were $1,024,374,886, leaving a surplus of $501,221,574 for capital and earnings, which are llkewise a pledge for the payment of all debta to the public The increase of capital, bonds and circulation of na tional banks for the year ending October 1, 1866, has been as follows Increase of capital paid in $21,515,557 Increase in bonds deposited to secure circulation 56,247,750 Increase of circulation issued 101.824.698 This statement shows an increase of something more than one hundred millions of national currency but during the same period national banks which have been converted from State banks have retired fully fifty mil lions of their state circulation. making the actual Increase in the volume of currency only about fifty millions To correct a misapprehension which exists in the minds of many that the entire amount of national circu. lation issued has been added to the of currency it may be well to take into consideration the amount of State bank circulation a period just prior to the in of the national system. The bank circula tion of the United States in January 1862, was one hun dred and eighty four millions of dollars, distributed as follows:Northern and Western States $144,000,000 Southern States 40,000,000 Substquent to this date no further returns were celved from the Southern States. Immediately following the suspension of specie pay ments there WAR an expansion of bank note circulation. which reached in January. 1863, in the Northern States aloue $200,000,000, making an increase in one year of $56,000,000. Relieved of all liability to redeem. the evident tendency of the banks was to still greater expan sion. No trustworthy returns later than January, 1863. are accessible; but the prevailing tendency of the times toward inflation, and the great temptation to banks to avail themaelves of the opportuntty to put in circula. tion very large amounts of their notes, without any re straints in the way of redemptions, would favor the opinion that this was not the highest point reached by the circulation of State banks. The $40,000,000 of currency in the Southern States mar now be added, giving an aggregate of $240,000,000 State bank circulation. which has been in great part replaced by national currency Without making any invidious comparisons, it injustion to MAY that the substitution of a currency based upon United States bonds, secure beyond any contingency, for the miscellaneous taxuer of State banks, has done much toward sustaining public confidence preventing distrust and possible financial disaster. EDEMPTIONS The law as " now stands provides for the redemption of national currency in the cities of St. Louis, Louisville, Chicago, Detroit, Milwaukee, New Orieans, Cincinnati Cleveland, Pittaburg, Baltimore, Philadelphia, Boston, New York, Albany, Leavenworth San Francisco and Washington An amendment to the law was proposed during the last session of Congress, requiring all national banks to redeem either in Boston, New York or PhHs. delphia, but was postponed until the present SESSION Some system of practical and effective redemptions is desirable for the preservation of a healthy currency and safeguard against redundancy Under the existing requirements 1,320 banks out of 1,647 voluntarly deem in New York, Boston and Philadelphia These banks represent $240,000,000 currency. of which three fourths are redeemed in New York The same argtments urged in favor of requiring re demptions in these three cities would, if carried to their logical conclusion, establish the expediency of requiring redemotions at one central point Every national bank in the United States obliged by the necessities of boei. near to keep an account in New York city clearly show ing current of trade and the tendency of money, and affording evidence that New York is the great commer eta! and Annual centre

5. December 6, 1866 Chicago Tribune Chicago, IL

Article from Chicago Tribune, December 6, 1866

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1.617 From number of banks can ized. hereto there should deduct sixteen leaving in active operation sixteen hundred banha to be excluded are the following NEVER COMPLETED THEID so TO The First National Bank of Lansing Michigao. First Nations Bank of Penn Yan, New Second Nations Bank of Canton Ohio. Second Baul of Ottum Iowa UTENSEDED BY WITH TITLES The First National Bank of Norwich, Conp The First National Bank of Utics, New York. THE HANDS OF National Banl First Atticn,New York, National Bank of Franklin, Pennchants' Tational Bank of Washington, District of Columbia CLOSED AND CLOSING UNDER THE PROVISIONS or THE OF First National Bank of Columbia. Misson Firet National Bauk of Carondelet, Mis The First National Bank of Leonard ville. New Y he National Union Bank of Rochester, Nex The Pittston Nations Bank. Pittston Pennsy with the First National Baul of Bank of Adams Massa dated th National First Fourth Nat Bank Indianapolis, In 1th the Citizens Bank of In Indiana had given notice of going Into to the date of last of the Treasurer their up which nds for the First National Bank of Columbia. Missour Bank of Mr Ban going dation as Bank National of Leonard sville $30,000 Bank of the last of session during First National Bank Attics to or the of or all debts bonds, circulation year October ending in $21,515,537 bonds to secord fully in well may State The -four millions of dollars. dl:tri $1 Western States H-000.000 forth date no returns were the specie of in an increase to been has great that based upo possible distrust are In redeemed favor in urged of in cities is York of sections the the to an these flaan to the trade ceutres loss the will fall upon this shall shall their This to and one that presses Boston. in Pt and York it the in the the ces due Ilficulty those those cities periodically to very great dency of money to accumulate In these of certain seasons of the current to bring Middle and the fact that cannot be questioned. These

6. June 4, 1867 Nashville Union and Dispatch Nashville, TN

Article from Nashville Union and Dispatch, June 4, 1867

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London advices of yesterday quote 5-20's at 73. Exchange on New York was in good demand yesterday. The banks were buy ing at par and selling at 1 premium. But little was done in uncurrent money. Bank of Tennessee was quoted at 33c. buying and 38c. selling. Other Tennessee money and Southern bank notes were unchanged. Nashville Corporation Checks were getting dull at 15c discount. Tennessee bonds sold in New York on the 30th ult., as follows: $5000 new at 651c, $10,000 new at 654e, £7000 new at 65$ $3000 new, 2d call, at 65c, $2000 new at 653, $5000 new at 66c, $4000 ex. cou ipons 66c, and $10,000 new at 66c; and on the 31st: $22,000 new at 66c, $10,000 new at 661c, $1000 new at 66g, $35,000 new at 66c, $80,000 new at 66c, and $140,000 new at 67c. These sales show a steady ap. preciation in the value of our bonds. The New York Post of the 30th ult., says, "The notes of the following broken banks are actually selling at a premium Venango National Bank, Franklin, Pa.; Tennessee National Bank, Memphis, Tennessee; First National Bank, Attica, N. Y.; First National Bank, Medina, N. Y.; First National Bank, Columbia, Mo.; First National Bank, Carondolet, Mo.; Merchants' National Bank, Washington, D. C." The Washington correspondent of the Cincinnati Commercial, says in his letter of May 31: "The Treasury Department learns that the notes of the national banks which have failed are at a premium, offered by such national banks as have been established without circulation. The latter banks desire to use these notes as a circulating medium." The New York World of the 30th ult., says: "New York is in the enjoyment of a little panic in the flour market. Prices have declined in ten days from one to two dollars per barrel. The greatest decline has been in the finer grades of family Hours. The supply of California flours has had an important influence in promoting the decline. But, as is always the case, when prices took a slight downward tendency supplies from all quarters largely and unaccountably increased. Our supplies are somewhat in excess of the current wants of the market, to say nothing of the meagre business now done, and with warm weather upon ns, there can be no disposition to increase stocks, but rather to decrease them, and we see no reason why the best family flours may not decline to about fifteen dollars per barrel. So long as prices are above the export limits, the market has no support; and holders can feel no safety until we approximate an export basis. To be sure, we shall have nothing to sparê for export in a long time, but the possibility of export orders being executed is necessary to give stability to the market."

7. June 4, 1867 The Wheeling Daily Register Wheeling, WV

Article from The Wheeling Daily Register, June 4, 1867

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receiver or money ceipt and to furnish for it the proper stamp. This obligation, however, like that of returning a civil answer to proper question, is governed by the laws of courtesy, and sanctioned by custom instead of statute. The undermentioned national banks have failed or are in proceess of liquidation, but their notes, being secured by Government bonds, are still at par, and in some instances a premium is paid for them by banks which have in view the sanction of an increase of their own circulation, and think that by holding the notes of a suspended bank they can secure an equivalent; but this is, or at least should be, founded on erroneous supposition: Venango National Bank, Franklin, Pa.; Tennessee National Bank, Memphis, Tenn.; First National Bank, Attica, N. Y.; First National Bank, Medina, N. Y.; First National Bank, Columbia, Mo.; First National Bank, Carendelet, Mo.; Merchants' National Bank, Washington, D.C. The Journal of Commerce referring to the status of business affairs says: The month closes amida general depression in nearly all branches of trade and commerce. It is probable that never before, during this quarter of the century, was there such a nniversal suspension of business engagements and business activity, except in connection with a monetary panic or a financial crisis. We do not regard this pause as utterly useless, and we are not without hope that it may be productive of great good to the country. While the expansion continued, and all classes of values seemed to be thereby enhanced, counsel was wasted, even warnings were disregarded, and lessons of wisdom fell upon listless ears. "To-morrow shall be as this day and much more abundant," was the thought in most hearts, if the sentence was not heard on the lip, and the whirl was too rapid for consideration or sober reflection. The revolving wheel runs more slowly now, and threatens to stop altogether. Those who were maddest in the day of excitement now question if their prosperity was real. Not a few would be glad to have as much of their supposed gains now in hand as would pay the tax on what was reckoned as last year's income; and those whose apparent increase still remains intact are restless and troubled about the future. We recall this description with a view of encouraging the despondent. Surely there must come no little good to the coun try out of the sober thought born of such an hour of quiet and freedom from specnlative excitement. Sensible men of all parties are drawn much closer together in such a season; and measures in which all but the unprincipled or fanatical can agree, rise in importan ce as it is seen that great material interests depend on the issue, while mere partisan questions shrink toward their proper insignificance. If this opportunity for sober thought is not wasted, the day of unity, and consequent peace and prosperity, will be all the nearer for the interruption. The money market continues moderately active, but the demand for capital is little less urgent than yesterday, and temporary loans are made upon acceptable securities at 5a7 per cent., mostly 5a6 per cent. for new contracts. Firstclass commercial paper is taken at 7 per cent. per annum discount, with but few exceptions above and below this rate.

8. June 8, 1867 The Charleston Daily News Charleston, SC

Article from The Charleston Daily News, June 8, 1867

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The Daily News. NEWS SUMMARY. with Gold closed in New York yesterday at 136 and Cotton at 27c. for middling uplands. Cotton closed at Liverpool at 11}d. for middling unland. There are in England and Wales about 20 0,000 clergymen, of whom 10,000 receive on an average actual duty with In the Austrian State Lottery, connected the loan of 1860, the Bishop of Brunn (Count SORAPGOTSCHE) has just won prize of 300. 0003. an On Saturday morning last ter the lapse of interval of more than six years, the Alexandria. Loudon and Hemisphere Bailroad was reopened to Lobsburg. The trains commenced running regularly over the road on Monday last General GRANT and Governor GEARY have been invited by the managers of the Soldiers' National Cemetary to visit Gettvsburg June 20. The former ham:recepted;rand the latter will probably be present: Anotherfirst prize has come to America from the Páris Exposition- gold medal to WALTER A. WOOD'S mowing machine. Mr. WOOD himself is dangerously ill at his home at Hoosic and was too unwell attend the funeral of his wife few days since. "Some of the Washing ton diplomatists think that JUARES MAY make good thing of MAXIMILIAN by rensoming in place of shooting him. MAXIMIL IAN'S mother, the Dowager Empress SOPHIA, of Austria, 16 Humeneely rich, and as much as $50, 000000 it were demanded. million The St. Paul Press promises fifteen It bushels of wheat from Minnesota this season. engathe area of land put in wheat this year is much.greater than ever before, and even in frontier settlements, where the scarcity of seed prevails four timee more land is sown to wheat than last year. Yankee soldier and negro got into quarrel at Lynchburg, when the negro kicked the Yankee into & well thirty feet deep, with six or seven feet of water. In attempting to pull him out the rope broke and he went down again. A second attempt wasnuccessful, and hewas brought to the top in noariya ying condition, It is thought he cannot recovere was The cargo of the steamer Sheridan, which wreake Flast winter near Body Island, will be sold at public anction, in Norfolk, on the 8th instant. The value off the cargo was estimated at about $1,000,000. The portion saved consists of Russian tary linseed and lard oil, white lead, zino, dry goods, and hogsheads of Irish, Scotch, and Bouron whiskey The New York State Constitutional Convention met at Albany this week, and supposed will be during the greater part of the summer of one address and sixty legates, who.n ninety-seven are Republicans and sixtyDemocrats Republican majority of thirty four. There is to be an effort made to procure an adjournment at an early day to Saratoga Each deleRate fa paid six dollars a day for his services. are The following National Banks have failed. or in-process of liquidation: Venango National Bank, Franklin, Ps.) Temmessee National Bank, Mem. phis, Tenn; First National Bank, Attica, First Nitional Bank Medina N. 1: First National Bank, Columbia, Mo.; First National Bank, Carondalet, Mo. Merchants National Bank, WashThe New York Yacht Club announ that its June regatta_will take place on the Eight yachts already been entered, and others, it is anticipated will engage in the contect Among the new and splendid by J. BEENETT, Vesta, Rambler, by H. FEARING; the STEBBINS: and the Magic, MIGHT LORRELERD. Scotland, a few weeks since, $ man named POLLOOK, house, was reading by his inreside when the hearthstone suddenly gave way under him, and he fell into deep esvern.full of water. His wife reached down and It held him by the hair until assistance arrived. turned out that the house had been built over the ruins of an ancient malt kiln, of which none of the occupants suspected the existence The National Typographical Union met at Mem. phis June 8d, at Odd Fellows Hall. About SOV. enty-Ave were_present. The following JOHN H. CEERLY, of Cairo, D.O. MORRIS, of Memphis, re-elect Progress first Vice J. HAMMOND, of New Orleans, second Vice President ALEXANDER TROUPE, of of New York, Secretary, and M. D. MAYBERRY, Philadelphis Corresponding Seoretary, Shepandoaby Valley the said to havenalmost from the desolations ot the hite war the ravages of the many armies and the almost total destruction of bouses fences, and agricultural imwill said that this year probably have the finest and largest wheat crop that regional lower Counties are with Pennsylvania Germans, who are quietly buying up of the farms they can get Senator arrived at North Platte, three hundred miles from Omaha, on June 3d. To_ morrow they will visit one of the forts in the vicinity, incompany with Lieut- General SHERMAN. The weather is delightful, and they are enjoying immensely Being supplied with good fire all day at ante lopas and game :found all along the track. over forty miles west of here, but Water of the stages will leave here for Denver. Mayor of Kentehaack- somewhere in Germany-having sought shelter in a sand quarry, his-two-sons and servant, driving the carriage, was overwhelmed by land slip. A woman acciden some time after. near the scene of disaster, saw a horse's head standing of the earth, and went immediately to announce the he neighboring village. The inhabitants, proceeding to the spot, removed the earth, but found only four corpses, the horse remaining alive. At the Princess MATHILDI usual Sunday evening reception in Paris recently, the King and of Belgians were present. But the event of the evening was that the first Siamese Embasof the King) was accompanied by his wife, who-huis never before appeared in a Parisian salon. This lady was dressed in the court costume of her country rich-silk dress with gold embroidery. She is very little, dark complexioned, of course, and her tiny hands are not bigger tharthose of child eleven years old. The California mails bring further intelli respecting the intolerant bearing of the Sait Lake Mormons toward the Gentile population; The at ter are proscribed not only in their social, but business relations, so tha to gain the means of subsistence among them is almost impossible. Those-who.can are removing, and making whatever sacrifice of property is needful order to escape. It is stated that BRIGHAM YOUNG, in a reconfidential recomm nded strict non intercom The Mormons are the Arabs of the American desert. is The Cerpus Christi Advertiserisays that corn now selling at fifty conta per bushel in Bastrop county, and delivered at sixty cents; specie, we pressire. The prospect is fino for the coming crop. Advertiser has reports that in William

9. June 9, 1867 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN

Article from Memphis Daily Appeal, June 9, 1867

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For the benefit of our readers we again state that taxes on incomes by the present law are levied on the first of March and due and payable on or before the 30th of April. If " due and unpaid after of as aforesaid, and for after notice the ten 30th days April and demand by the collector, there shall be levied, in addition thereto, the sum of five per cent. on the amount of taxes unpaid, and interest at the rate of one per cent per month upon said tax from the time the said became due, as a penalty." The New York city banks' deposits have been drawn down five and a quarter millions since last return, and the legal tenders have decreased nearly two millions. The loans have decreased two millions. The undermentioned national banks have failed or are in process of liquidation, but their notes, being secured by government bonds, are still at par, and in some instances a premium is paid for them by banks which have in view the sanction of an increase in their own circulation, and think that by holding the notes of a suspended bank they can secure an equivalent; and by other parties who have already secured charters but have no bills of their own, the national circulation being as large as the law allows: Venango National bank, Frankliu, Penn.; Tennessee National bank, Memphis, Tenn.; First National bank, Attica, N Y.; First National bank, Medina, N. Y.; First National bank, Columbia, Mo.; First National bank, Carondelet, Mo.; Merchants' National bank, hington, D. C. Fire Marshal Blackburn, of Philadelphia, reports a total of 594 fires in that city last year; losses, $3,192,987; insurance, $1,975,855. The marshal says: From the records which I have kept, and statistics collected by me from the most reliable sources, I estimate the total loss by burning in the United States at not less than $50,000,000 for 1864; $75.000,000 for 1865; and $100,000,000 for 1866. The aggregate loss in New York city, alone, last year, reached $10,000,000. Four hundred new money order offices. scattered all over the United States, are to be opened in July, This will make the whole number of such offices eleven hundred and ninety-six. President Johnson has appointed Mr. J. C. Walten sub-treasurer at New Orleans, in place of W. R. Whittaker, turned out for irregularities. This is the first removal made under the tenure of office act, and must be acted upon at the next session of the United States senate. Mr. W. R. Whittaker was at one time a clerk in the Boston postoffice. There was no change perceptible in business to-day which would justify even a paragraph on the subject. The absence of a local White or St. Francis river packet on Saturday adds to the general quietude of our trade. COTTON-The Liverpool dispatches of yesterday caused more firmness on the part of the holders, and put a stop to sales to-day. Factors are asking 25c for middling, but we could learn of no sales. The sales in New York were also light. The following statement we take from the Merchants' Exchange Prices Cur-

10. June 12, 1867 Nashville Union and Dispatch Nashville, TN

Article from Nashville Union and Dispatch, June 12, 1867

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at 73. Gold has varied but little during the week, though the tendency is slightly 136g upward. On last Wednesday it was The and on last evening it closed at 137g. following were the rates yesterday Opened and closed 137 was 137 at 11, 1371 at 12:30, gold at 137g. The transactions in here are extremely light, and the buying New about 11 cent less than the rates York quotations. Silver is bought at about 10c less than gold. There is nothing doing in uncurrent 33c funds. Bank of Tennessee is quiet at buying. Most of the Southern bank notes are lower in rate, aud seem to be becoming worthless. There is no change in our home bonds and stocks. Davidson county bonds, issued about to the Louisville railread, are worth are 83c. Those issued to the other roads rated at 75c. Nashville corporation bonds are worth 60c. The old bonds would command a fraction more. Nashville corpora These tion scrip is bought at.14c discount. licences, checks can be used in paying taxes, etc. Nashville and Chattanooga railroad rail stock is worth 25c. The Louisville road stock is worth 85c. The stocks of our other railroads are unsaleable. Nashville suspension bridge stock is worth 93c. the Tennessee bonds sold in New York on 8th inst. as follows: $1000, with all the coupons, at 90c, $1000 new at 681c, $2000 new at 68₫ $4000 new at 68c, $20,000 new at 681c. Virginia bonds sold North at 70c, Missouri bonds at 987, and Carolina new bonds at 51@50c. of The New York Post of the afternoon the 8th inst. says There is more confidence business, in financial for circles the in regard the prospects the crops collee character. general the infidence fears reviving.c are easier of the and treasury causing further circulation. the business by locking up The withdra wing from balance coffer and which has will. and to edily the decrease, be repaired. The the mischiet believed. rapidly which has been The done market active than 6@7 per cent., and there usual Saturdays inquiry for The supply, towards however the flow currency slowly. The best bills are scarce and paper is moving wanted at 26/2@8. Good pass at 8@10. The story that secret arrangements have the been made between the Secretary of under Treasury and certain national banks, which these banks are to receive circulating notes instead of broken bank bills, that dethey may redeem and present at the If partment, is denied by authority. defunct any banks are buyin up the bills of national banks, they do it of their own said moand at their own risk, and it is that tion speculations in these bills is The not countenanced by the department. that following is a list of national banks of have failed, and are now in the hands a Receiver, with the amount of circulating notes issued to each Circulation .$ 45,000 First Nat'l Bank, Atticate Washington 180,000 Merchants Nat'l Bank. Nat Nat'l Bank Franklin, Pa Tennessee Venango Nat'l Bank, Memphis First Nat'l Bank Selma, Ala Newton, 180,000 First First Nat'l Bank, Nat'l Bank, New Orleans In addition to these, the First National Bank of Carondolet, Mo., with circulation of $25,500, and the First National Bank $11,Columbia, Mo., with circulation of de990, have taken up their bonds, and posited lawful money in the United outstand- States Treasury to the amount of their of ing circulation. Here is an aggregate thousand eight hundred and thirty-two which has four hundred and ninety dollars, return reverted to government, upon the amount and destruction of which an equal of the of circulation will be at the disposal Comptroller of the Currency for conditions distribuaccording to the terms and act, tion, prescribed in the national currency the subject to the same rules as governed audistribution of the amount originally thorized by Congress. Quite number of national banks have been organized, which the Comptroller has not yet given procirculation, because the amount vided for by law is already out, and there are many others that have received would, only part of the amount to which they under other circumstances, be entitled. The export of specie from New York to to foreign ports on the 8th inst. amounted $1,299,500. The Financial Chronicle states that it New not generally known that the notes discount of England State banks are now at reason of per cent. in New York. The of this heavy depreciation is that at Boston Suffolk Bank and the Bank of Mutual the Redemption have discontinued redeeming the such notes since the first of June. As there amount outstanding is small, and as with now no method of getting payment banks is sending the notes to the several out by mail or express, the uncurrent money cover brokers make the extra charges involved. to the delay, expense and trouble The notes of the banks of Pennsylvania those of the Western States are selling of and various rates of discount, while those at the State of New York will probably Metro cease month to be redeemed by the will politan next Bank of New York city, and then speedily disappear from circulation. of The New York Journal of Commerce dry the 8th inst. says of the domestic goods The improved tone of feeling this noticed week. in still more the last has been been reads. made and would freely be for easier class staple delivery than at any preyear. future Odds and ends been vious date this styles of prints have of fresh goods the value criterion siderably mills. Such sales are no to mislead the market, but are and sometimes thust circulate The business quota selfish conti light, but there is far more future nence The same the paper states that there adds is no improvement in foreign goods, and "There is a moderate demand for good styles of thin dress goods, but these are only lim. entail wants sold in small quantities to supply the