Click image to open full size in new tab
Article Text
TELEGRAPHIC NEWS. FROM THE ASSOCIATED PRESS. n The Financial Crisis. RICHMOND. Sept. -There has been but a moderate demand for specie on our banks so far, and they still express a confidence in their ability to meet any demand which may be brought, NORFOLK, Sept. 29.-The Farmers' Bank at Elizabeth City, N. C., has suspended. Brokers here are buying its notes at 50 per cent. discount. The Norfolk banks are all firm. Albany, Sept. 29.-The ron on the Savings Bank here has subsided. gold drawn out under the influence of the panic yesterday being returned to-day. TRENTON, N.J., Sept. 29.-Messrs H. H. Bot tom & Co paper dealers, and Messrs. Bottom, later Tiffany & Co. machinists, have suspended. [A dispatch says the reported failure of the latter firm is contradicted Money matters are quiet here. Our banks are meeting all demands made upon them. SALEM, N Sept. 29-The report from Trenton in regard to the Salem Bank needs modification The Salem Bank, influenced by the action of Philadelphia, though prepared to meet its issues, has partially suspended It redeems its fives, cashes the checks of depositors in its own bills, and continues to exchange the notes of banks good at Philadelphia and New York NEW York, Sept. 29.-The Burlington, Camden, Cumberland and Salem (N. J.) banks are reported as failed. The East Jersey banks, including Trenton, will hold out while the New York banks remain firm. Money affairs are more cheerful here in consequence of a report that the banks are considering the expediency of expanding the loans to the extent of several millions. No large failures are reported. Exchanges are very variable and unsettled. There is no fixed price to quote. The brokers here are crying down Eastern and Jersey money. Some refuse to touch the tormer at any price LATER -Our bank presidents have recommended the extension of the discount line to three per cent. for the coming week, which will amount to over $3,000,000. BOSTON, Sept. 29.-There is nothing new to notice in mancial matters. There is a better feeling, however, and full confidence in the stability of the banks. Ata meeting of the bank presidents to-day, a proposition to discount to the extent of ten per cent. of their capital during the coming week was unanimously favored, but definite action was postponed till to-morrow to allow absentees an opportunity to vote. The banks have gained $90,000 in specie to-day. PHILADELPHIA, Sept. City and Southwark Banks paid out specie to-day on their small notes, despite the agreement of yesterday. They received the notes of the other banks on deposit, except those of the Pennsylvania Bank A dispatch from Bridgton, N. depies the report that the Cumberland Bank has failed. It paid out liberally to-day and confidence in its soundness is unabated. CHICAGO, Sept. 29.-Messrs. Trinkham & Co., have banks. suspended, but there is no run on the other Sr. LOUIS, Sept. 29.-There is a run here upon the bankers. Messrs. Bozy & Miltenberger have suspended in consequence of the non-arrival of a supply of specie now in transitu. They will probably resume to-morrow. Our other banks have promptly met all demands upon them. The assets of Messrs. Anderson & Co., and Dailey and Carksdale, who suspended yesterday, largely exceed their liabilities, and it is supposed that they will soon resume A card has been published, signed by our wealthiest citizens, certifying the solvency of Messrs. Lucas & Co. and Renick & Patterson. erally Our banks continue firm and are discounting libNEW YORK. Sept. 29.-There is a greatly improved feeling here to-day, mainly in consequence of a more liberal policy by the banks, which have promised the merchants all the aid in their power. Stocks recovered a portion of yesterday's decline, and the general appearance of financial affairs is encouraging. BUFFALO, Sept. 29.-The suspension of Heron & Brothers, bankers at Dubuque. is announced. Their liabilities are one hundred thousand dollars, and their assets are said to be double that sum. LOUISVILLE, Sept. 29 -The brokers of this city are purchasing only the notes of the Indiana State Bank, the Bank of Missouri and the issues of the New Orleans banks. All other western and southwestern currency is refused. BOSTON, Sept. 29.-A meeting of the presidents of the Boston banks was held at the Suffolk bank this afternoon, but nothing was decided upon. They adjourned till to-morrow morning. INDIANAPOLIS, Sept. 29 The bills of the Tippecanoe Bank, located at Logansport, are thrown out by brokers here NASHVILLE. Tenn., Sept. 28.-Confidence is felt that the Bank of Nashville will be able to pay all demands upon it, and have a large surplus besides. The merchants held a meeting and recommended the Union Bank, the Planters' Bank and the State Bank to suspend, but they refused to do so. Several of the free banks were thrown out to. day. CINCINNATI, Sept. 28.-The excitement in consequence of the unfavorable advices from the East has paralized business in this city. New York exchange is quoted at par, but only small amounts will be purchased at this rate. The paper of an iron house and a shoe and leather house has been protested. J. B. Holmes, manufacturer, has assigned. ROCHESTER. N. Y., Sept. 28.-All is quiet here. All our banks are paying specie as usual, and all reports to the contrary are false. SECOND DISPATCH