Article Text
The temporary advance in stocks on Monday was succeeded by a decline yesterday. The diffi- oulty in borrowing money remains as great as ever, and securities are largely thrown on the market. Bank and mercantile disasters continue to be nu-merous and important. Three of the Hartford Banks have, with others elsewhere suspended. Messrs. Willets & Co., a Quaker house, and Messrs. Sabers & Co. of San Francisco have failed. The failure of Messrs. Vail & Yates of Newark, one of the largest bat concerns in the United States, is also announced. A number of suspensions in various cities are announced under our telegraphic head. Numerous failures which cause less noise than the fate of more prominent houses, but are, perhaps, more significant of the crisis under which we are laboring, are reported, as they have been from day to day for some time. The report from Boston is that the panic is blow-ing over, and matters settling down into the old track. The failure of Mr. John A. Lowell is au-thoritatively contradicted. There was a great run on the banks of St. Louis, but they stood firm. The merchants held a meeting to consider the ques-tion of the currency, and resolved to take it and pay it out at par. In Baltimore and Philadelphia the market is dull. Gov. Pollock's message to the Pennsylvania Legislature is cautiously and moderately worded. It recommends that the banks be released from the penalties of a suspension, and that a reasonable period may be fixed for a resumption. He also recommends some provision to secure the public funds which may be in the banks, suggests an extension of the time on which the execution on judgments may issue, and deprecates any issue of bank notes of a smaller denomination than are now authorized.