14697. Bank of the Interior (Albany, NY)

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: May 21, 1861
Location: Albany, New York (42.653, -73.756)

Metadata

Model: gpt-5-mini
Short Digest: 127569f8

Response Measures

None

Description

Multiple contemporaneous newspaper dispatches (May 21–23, 1861) report the Bank of the Interior of Albany suspended at the close of banking hours and then deciding to go into liquidation; a receiver (Orlando Mead) was appointed. Reports attribute the failure to speculative conduct of officers and insolvency rather than a depositor run. The receiver later declared a dividend (Nov 21, 1861).

Events (4)

1. May 21, 1861 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank suspended after speculative losses and poor condition of management; articles state failure caused mainly by speculations of its officers and that circulation/security held in State stocks.
Newspaper Excerpt: The Bank of the Interior ... suspended at the close of Bankers' hours to-day.
Source: newspapers

2. May 23, 1861 Other

Newspaper Excerpt: The Bank of the Interior yesterday decided to go into liquidation. Accordingly application was made for the appointment of a receiver, and O. Lindo Mead, esq., was appointed . . . . the bank is not only able to pay its debts, but a large portion of its capital will be saved to the stockholders. (New-York Daily Tribune, May 23, 1861).
Source: newspapers

3. May 23, 1861 Receivership

Newspaper Excerpt: application was made for the appointment of a receiver, and O. Lindo Mead esq., was appointed.
Source: newspapers

4. November 21, 1861 Other

Newspaper Excerpt: The Receiver of the Bank of the Interior, of Albany, has declared a dividend of fifty cents on the dollar on all demands against the bank allowed him as Receiver.
Source: newspapers

Newspaper Articles (14)

1. May 22, 1861 The Daily Gate City Keokuk, IA

Article from The Daily Gate City, May 22, 1861

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Saturday. The offers regarded as the most advantageous to the United States will be accepted. Ex Gov. Floyd having been commissioned as General in the Confederate service has commenced raising a brigade in Virginia. A dispatch dated Portemouth, from a Southern source, saye: Owing to fring into the battery at Sewell's Point, lively times are expected, and perbape troops will be marobed to the point from Norfolk. ALBANY, May 20. The Bank of the Interior, a DOW institu. tion, having been in existence only a few years, and doing business almost wholly with Canada, suspended at the close of Bankers' hours to day. Its circulation is fully secured by State stocks, and its few deposi. itors are fully secured. Indianapolis, May 21. The report from Martin county, Ind., last night about secessionists committing depredations seems to be a mistake. There is, however, a band of desperadoes in that county who are plundering, robbing and threatening the lives of citizens, and we learn to-day from good authority that four men were arrested at Dover Hill yesterday by an armed mob of 100 men. Washington, May 21. Surgeon Gurley will be appointed Surgeon Gen'l of the Army in place of Dawson, deceased. It is a sufficient denial of the reports as to Gen. Scott's infirm health, to say that he is engaged in the discharge of his official duties, not only during the day, kut to a late hour every night. Philadelphia, May 21. The Gen. Parkhill of Liverpool, for Charleston, has arrived in charge of a prize crew of the Niagara. She was spoken off Cape Rowdine on the 12th and ordered off the next day. She was captured in attempting to run the blockade; she was towed up to the Navy Yard. The general cargo is large, a portion being salt. It is suspected arms and munitions were concealed She was her own Captain being on Forbes, under the salt. commanded murdered by Capt. outer voyage by some of the crew. She had two Seces sion flags flying. Capt. Forbes denies knowing any thing about the blockade, and that the secession flags found on board belonged to the former Captain. New York, May 21. The sloop Trine with 150 kegs powder on, board, was seized in the North River to-day. Boston, May 21. Reported U.S.brig Bainbridge will proceed direct to Aspinwall, and act as convoy to the California steamers, cruising off the Gulf and protect them from privateers. Hagerstown, May 20. Reports are to the effect that great dissatisfaction exists amohg the troops at Harper's Ferry on account of the existence of several factions. One fa vors annexation of Virginia to the Confederate States: one, the unconditional separate independence of Virginia a third, the unconditional union. Soldiers of the last two classes refuse to take the oath of allegiance to the Confederate States. The people of Sharpsburg village, thirteen miles south-east of the road to Harper's Ferry, swear no more soldiers for the Confederate army should pass through their town. St. Louis, May 21. Private dispatches from Helena announce the explosion of the steamer Kentucky, yesterday, and the loss of 20 lives, including the two clerks, but no particulars given. The Kentucky was a Memphis and Vicksburg mail packet, valued at $20,000. Private dispatches also announce that the Southern Confederacy have established a blockade at Memphis, prohibiting passengers on all upward bound boats.

2. May 22, 1861 The Evansville Daily Journal Evansville, IN

Article from The Evansville Daily Journal, May 22, 1861

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ALBANY, May 21.-The Bank of the Interior, a new institution, having been in existance only a few years, and doing business almost wholly with Canada, suspended at the close of Bankers' hours to-day. The circulation is fully secured by State stocks, and its few depositers are fully secured. The suspension of this bank will not affect banking interests here.

3. May 22, 1861 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, May 22, 1861

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Money Matters at Chicago. CHICHAGO. Tuesday, May 21, 1861. At a meeting of bankers and merchants last night, s was resolved to receive at par the notes of 31 banks, having a circulation of about $3,500,000. This, bow. ever, does not suit several of the largest jobbing houses, because exchanges cannot be had less than 10 per cent on this list. This diversity of opinion leads to restrict business on 'Change, some holders refusing to sell except for gold or exchange. AT ALBANY. ALBANY, Tuesday, May 21, 1861. The Albany As-orting House for State currency, although at first associated with the Bank of the Into rior, will not be at all affected by the failure of that Bank. Its operation will be continued by the Men chants' Bank of Albany and other banks in this city, and its organiza ion will be stronger than before. The Hurry observable at some of the Saving Banks yesterday is over to-day, only a few straggling depreitore being seen at the counters withdrawing deposits. The total amounts drawn yesterday were so small not to reach the character of a run. The Bank of the Interior, a new institution, which has been in existence but a few years, and doing bash news almost wholly with Canada, enspended at the close of banking hours to-day. Its circulation is fully secured by State stocks, and its few depositors are fully secured. The suspension does not affect banking inter ests here.

4. May 23, 1861 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN

Article from Memphis Daily Appeal, May 23, 1861

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By Telegraph! THE WAR NEWS! MONTGOMERY, May The Southern Congress adjourned late last night to meet at Riebmond on July 20. The tariff bill was passed with several unimportant amendments. The act allowing district attorneys in the field to appoint substitutes during their absence from their respective circuits and the patent office bill bave been signed. Rhedes has been appointed commissioner of Ipatents. No new military appointment have been made. Measrs. Rives, H unter and Memminger have been appointed a committee to make arrangements to transfer the departments.to Richmond. WASHINGTON, May 22-Correspondents: that strenuous efforts are making to keep the New York 7th regiment here three months longer. J. Morrison Harris, in congressional convention in Baitimore district, refuses to pledge an unconditional support to Lincoln. This course loses Harris the nomination for Congress in the 3d district. The correspondent of the New York Express says that thirty-two regiments (strong) are here including twogregulars. General Scott wants 60,000 men along the banks of the Ohio and Mississippi rivers. The Federal Government does not seem to care much about Harper's Ferry. The regulars on the border service have been ordered to Washington, including the forces in Utah and New Mexico. The outposts will be guarded by volunteers. BALTIMORE, May 22-Occasional shots are heard here. The Monticello, it is said, received two shots in her hull from the batteries at Sewel's Point. WASHINGTON, May 22.-The Secretary of the Navy has adopted a new system of signals. Passports will not be furnished to citizens of seceded States without proof of loyalty. CHICAGO, May 22.-The currency difficulties are unadjusted. Farmers refuse to sell their produce, etc., except for specie. LOUISVILLE, May 22.-The submissionis's are required to take an oath to support the Constitution of the United States, and that of Kentucky so long 28 she is loyal. But few are taking the oath, and very secretly. WHEELING, May 22.-The southern troops are positively at Grafton. 1100 federal, troops are camped at the fair grounds here. Seven boxes of sundries belonging to Gen. Lee, of Virginia have been seized as a prize. Commissioners will be appointed to dispose of ll'captures. LOUISVILLE, May 22.-The Army Bill was defeated by a vote of 48 to 42, the Constitution requiring 51. ST. Louis, May 22.-Gen. Harney makes proclamation that he and Gen. Price have 2rranged matiere, and be commands the people of Missouri to behave themselves, otherwise both State and Federal Governments will participate in making them submissionists. Gen. Price, however, having first to show his loyalty. The July interest will be paid when due. ALBANY, May 22.-The Bank of the Interior has suspended. WASHINGTON, May 22.-Surgeon Findlay has been appointed Surgeon-General, vice Dawson. General Scott's health is good. The London Times urges absolute neutrality in regard to the American difficulties; the low moral feeling in England forbide a contrary course. The correspondents at Waehington say that the seizure of the old telegraphic dispatches E has been confirmed. BOSTON, May 22.-An amendment to the Constitution of the State, admitting foreigners to vote after one years' residence, has passed both Houses of the legislature. CHAMBERSBURG, Pa., May 22.-It is beh lieved that the movements of troops to Wila liamsport, Maryland, are a feint. After the commencement of hostilities at Harper's Ferry the southerners will probably advance along the country road via Pleasant Valley and Waynesboro, avoiding any initiaa tory movements on the soil of Maryland. The route indicated, is the shortest to Pennsylvania. 8 The Tribune's correspondent says that the a reported movement of federal troops to control the Virginia election on Thursday, is without foundation. General Wallbridge, who is r familiar with the topograby of Kentucky and Tennessee, has been called to Washington. This meditates South-weatern movement. Mexico has been assured by the Govern, ment that the Monroe dectrine will be enforced. Should European powers interfere with her she will be supported. I Spain is warned that she proceeds in Dominica affair at her peril. I ) ST. LOUIS, May 22.-Major-General Price and General Harney have held a consultation. ' They mutually prefer peace. Major-General ; Price pledges the power of the State to preserve order, and General Harney makes no ) further movement.

5. May 23, 1861 Daily Nashville Patriot Nashville, TN

Article from Daily Nashville Patriot, May 23, 1861

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From New York. ALBANY, N. Y., May 21.-The Bank of the Interior has suspended. NEW YORK, May 22.-Seven boxes of sundries, belonging to Gen. Lee, have been seized. Prize Commissioners will be appointed to dispose of all captures. NEW YORK, May 21.-The Tribune says the reported movement of troops to control Tbursday's election in Virginia, is unfounded. Mr. Wallbridge, who is familiar with the topography of Kentucky and Tennessee, has been called to Washington, indicating Southwestern movements. Mexico has been answered by the Government, that the Monroe doctrine will be enforced, and' should any European Power interfere with her, she will be supported. Spain has been warned that she proceeds in the Dominica affair at her peril. From Washington. WASHINGTON, May 21.-Surgeon Findley is appointed Surgeon General, vice Dawson. Gen. Scott's health is good. The London Times urges absolute neutrality, and says the moral feeling of England forbids the contrary. The seizure of old telegraph dispatches is confirmed. WASHINGTON, May 22.-The Navy has adopted a new system of signals and passports, which are not to be furnished to citizens of seceded States without proof of loyalty. WASHINGTON, May 22.-Strenuous efforts are making to keep the New York Seventh Regiment three months longer. Monroe Harris refuses to pledge unconditional support of Lincoln, thereby losing the Congressional nomination in the 3d district. Thirty-two strong regiments, including ten of reguiars, are here. Gen. Scott wants 60,000 men along the banks of the Ohio and Mississippi. The Government don't seem to care much about Harper's Ferry. The regulars on the border are ordered here, including the Utah and New Mexico outposts, which will be guarded by volunteers. From Pennsylvania. CHAMBERSBURG, May 21.- is believed that the movements at Williamsport are a feint. After the commencement of hostilities at Harper's Ferry, the Southerners will probably advance along the country road via Pleasant Valley and Waynesboro, avoiding any irritating movements on Maryland soil. This route is indicated as the shortest one to Penasylvania. From Boston. BOSTON, May 21.-An amendment to the Constitution allowing foreigners to vote after one year's residence, has passed both houses of the Legislature. From New Orleans. NEW ORLEANS, May 22.-The steamer Arizona from Brazos, with $455,000 specie, has arrived. The surrender of the Federal forces in Texas, under Reive, to Vandorn, is confirmed. From Louisville. LOUISVILLE, May 22.-The army bill is defeated by a vote of 48 against 42. The constitution requiring 51. LOUISVILLE, May 22.-The Submissionists' oath is to support the Constitution of the United States ,and that of Kentucky, as long as she is loyal. But few are taking the oath and very secretly. From Maryland. BALTIMORE, May 22.-Occasional shots are heard. The Monticello is said to have received two shots in her hull from Sewall's Point batteries. From Virginia. WHEELING, May 22.-Southern troops are positively at Grafton. 1,100 Government troops are camped at the Fair Ground. From Illinois. CHICAGO, May 22.-Currency difficulties prevail. Farmers refuse to sell except for specie. From Montgomery. MONTGOMERY, May 22.--Congress adjourned late last bight to' meet at Richmond on the 20th of July. The Tariff bill was passed with unimportant amendments. An Act was passed allowing District Attornies in the field to appoint substitutes in their absence, from the Circuits. The Patent Office bill is signed; and Mr. Rhobes appointed Commissioner. No new military appointments were made. A Committee, consisting of Messrs. Rsves, Hunter and Memminger, for the transfer of the Departments to Richmond. Markets by Telegraph, NEW Orleans, May 22.-Corton sales today 500 bales; middling 114a111. Sugar and Molasses--nothing doing. Flour 8 00. Corn 60a76. Mess Pork 24 00. Whisky 24. Arrived.-Aballino, from Boston.

6. May 23, 1861 Nebraska Advertiser Auburn, Brownville, Calvert, NE

Article from Nebraska Advertiser, May 23, 1861

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Books or be repealed altogher. The July interest will be paid, and the school fund will revert to its proper channel, and the military bill will not be enforced. Business assu nes a brighter aspect this morning in consequence of this treaty and everybody seemed rejoiced at the prospect of peace and good order once more. New York, 21st.-A special dispatch to the Post from Washington of to-day says a force of 1,000 rebel troops left Harpers Ferry yesterday for Grafton, Va., to resist the passage of Federal troops from Wheeling. The Commercial learns from authentic sources that the extra session of Congress will be secret, business will be compactly arranged and presented. According to present appearances almost perfect unanimity will prevail, an impetus will be given to the loyal sentiment and everything done that can be to bring the contest to a speedy termination. Baltimore, 21st.-The N Y 2 nnd passed through this city to-day they were well received and cheered in some parts of the city. Albany, 21st.---The Bank of the Interior, a new institution, having been in existance only a few years, and doing a business almost wholly with Canada, suspended at the close of banking hours today. Its circulation is fully secured by State Stocks. Chicago, 21st.---At a meeting of the bankers and merchants last night it was resolved to receive at par the notes of 31 banks having a circulation of about $3,500,000. Montgomery, 21st.---Go" Ellis telegraphs President Davis that N Carolina has passed an ordinance of secession unanimously. Baltimore, 21st.---Two Philadelphia companies seized a large quantity of arms stored in an unoccupied house, comprising 2,500 Va muskets, also 4,000 pikes, the whole were taken to fort McHenry. The arms had been in the custody of the city authorities. The Union men of the 3d district have nominated C L Leary for Congress. Boston, 21st.---A resolution amending the constitution allowing naturalized foreigners the right of suffrage after a years residence in that State passed both Houses of the Legislature to-day. Ft Kearney, 22d. Coach passed S p m yesterday. Denver, 18th.---A practicable route for the Overland Mail has been found directly west from this city, and steps will be immediately taken for opening it. The yield of gold is rapidly increasing as spring advances and water becomes more abundant. Leavenworth, 22d. Intelligence from various sources show that a number of Unionists have been driven from the border counties of Mo who have taken ref) uge in southeastern Kansas. Some of them show evidence of severe treatment. Three regiments U S volunteers from Kansas are being formed in this city and Lawrence as fast as possible.

7. May 23, 1861 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, May 23, 1861

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Total earnings The report of the Boston, Concord and Montreal Railroad for the year ending March 31, 1861, shows gross earnings of $252,725 and expenses of all sorts $131,052. Net earnings $121,67 or about double the interest on the funded debt of $1,050,000. The total floating debt is but $31,500 of which $9,300 is payable in bonds. The whole floating debt will be paid off within a few weeks. On the other hand the trustees of the sinking fund hold $63,000, $51,500 of which has resulted from the yearly payments of $12,500 by the Corporation, and the remainder is interest received thereon and now invested. The report shows an improvement of $62,624 in the financial condition of the concern during the year, through payment of floating debt, &c. Mr. Pateline, President of the Buffalo, New-York and Erie Railroad C mpany, notifies the holders of shares in the capital stock that during the eneuing week a circular will be forwarded to them, giving a detailed statement of the affairs and condition of the company, from which the shareholders will be enabled to form an accurate estimate of the value of their stock. In the mean time shareholders are cautioned against selling their stock until they can act understandingly. Those who do not receive a copy of the circular by mail will be supplied on application to W. L. Doyle, Auditor, Buffalo. We have no change to note in money. On demand, the supply is over-abundant at 5@6 ₽ cent, and in some cases at 4 ₽ cent, on Government securities. The offerings at bank are falling off, but the issues of bankers' paper in payment for Exchange assists them in keeping up their lines. Only prominent signatures go in the open market at7@8t cent. The failure of the Bank of the Interior at Albany was not unexpected. There may possibly be one more suspension but our information from Albany leads us to believe that the epidemic has exhausted itself. The failure of the Bank of the Interior is a bad one, and like the other two, has been caused mainly by the speculations of its officers. It was originally started by Mr. Plumb then of the State Bank, as a seuling bank for country institutions, in opposition to the Metropolitan, and has divided the business with that bank. It has never been considered very strong, and has maintained a good position mainly by its connection with the Bank of Commerce in this city. It had also important connections with Canada banks. The Bank of Commerce announces that it will redeem the notes of the Bank of the Interior at par. The circulation is secured as follows: $68,000 New-York 58, $41,000 New. York 58, $98,000 New-York 6s, $37,000 United States 58, 22,000 United States 6s. The following is the last official statement of the bank:

8. May 23, 1861 New-York Daily Tribune New York, NY

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The Albany Clearing-House for country banks will not be affected by the failure of the Bank of the Interior. Its operation will be continued by the Merchants' Bank of Albany, and other banks. The disasters which have overtaken the Albany banks have not taken by surprise those who have watched the movements of the managers. Albany has been the hot-bed of stock speculations since 1857, and the logges on Michigan Southern, New-York Central, Galena, Rock Island, &c., have been enormous. The Atlas and Argus Bays: The Bank of the Interior of this city yesterday decided to go into liquidation. Accordingly. application was made for the appointment of a receiver, and O.LindoMead esq., was appointed. It is understood that the bank is not only able to pay its debte, but that a large portion of its capital will be saved to the stock holders. Its circulation is amply secured in the Banking Depart meat. Its suspension will not materially affect business or bank. ing interests here, as it has not been in operation but & few years, and had not done or sought, to any great extent, a general be usiness. Whatever loss there may be in winding up its affairs will fall only upon the stockholders. quote

9. May 23, 1861 Nashville Union and American Nashville, TN

Article from Nashville Union and American, May 23, 1861

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Bank Suspension. ALBANY, N. Y., May 21.-The Bank of the Interior has suspended. From Washington. P

10. May 24, 1861 The Daily Exchange Baltimore, MD

Article from The Daily Exchange, May 24, 1861

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PRICES AND SALES OF STOCKS IN NEW YORK. BY TELEGRAPH. Through WILLIAM FISHER & SON, Stock and Bill Brokers. No. 22 South street, 1st Board 2d Board. 00 47 1/6 Virginia 6's Missouri 6's 00 Tennessee bonds 00 43 % North Carolina bonds 00 00 00 Canton Company 8X Erie Railroad 00 21 X 00 New York Central Railroad 7214 00 31 Reading Railroad 00 Cleveland and Toledo Railroad 22 ¥ 00 Michigan Southern Railroad 11% 00 Harlem Railroad 00 00 00 Galena and Chicago 00 25 1/2 Michigan Southern, guaranteed Rock Island Railroad 00 33 X steady. No quotations received for second Board. The New York Herald, of Thursday morning, says: There is nothing new in the money market. The principal topic of conversation at the discount houses continues to be the government loan, which will be bid for on Saturday. It seems certain that offers will be made to take six per cent. Treasury notes at par for the whole amount, and also that a combination bid for $9.000,000 in six per cent. stock, at about 88, will be sent in. There is nothing new about the Western currency. The sooner the banks based on border State stocks are put in liquidation the better. The stock market was extremely dull yesterday, and prices were generally lower. Virginias declined at the morning board 1 1/2 per cent., New York Central 1/8. Pacific Mail 1/8, Erie 1/2, Galena 1/2. Rock Island 1/2, Michigan Central % Southern 1/4, Toledo 1/4 - the exceptions to the market being Panama, which advanced 2 per cent., and Missouris, which were scarce for delivery, and rose @. The New York Tribune, of Thursday, says: The market for foreign bills closed with more firmness at the last moment, and 105 1/2 was paid for leading sterling. Very large purchases have been made by bankers of merchants' bills for the purpose of importing gold, giving sixty-day paper in payment. The next Cunarder, it is reported, will bring over a million in gold, ordered sometime since. With the amount by the Persia, it is estimated that the importations will reach nearly ten millions of dollars. We extract the following from the Philadelphia Press of Thursday: The improvement in State and city loans, was well maintained-at the stock board yesterday. New city loan sold at 99 1/2. and the old issues at 88% with a strong demand at these figures; and State fives were firm at 79. Pennsylvania Railroad first mortgage bonds sold at 98 % at first Board, and at 98 between boards, and the stock sold at 37. Camden and Amboy Railroad shares sold at 108, Minehill at 54%, North Pennsylvania Railroad shares at 7, Reading Railroad at 15% Exchange in Chicago is extremely scarce at extravagant rates. Out of eleven millions circulation in Illinois bank notes. eight millions have been discredited. and are worth but forty cents on the dollar, and the remaining three millions cannot be converted into specie or exchange without a sacrifice of twenty per cent. We have to record the failure of a third Albany bank. The Bank of the Interior of that city suspended on Wednesday. The Atlas and Argus says: "The Bank of the Interior, of this city, yesterday decided to go into liquidation. Accordingly, application was made for the appointment of a receiver, and Orlando Meads, Esq., was appointed. It is understood that the bank is not only able to pay its debts, but that a large portion of its capital will be saved to the stockholders. Its circulation is amply secured in the banking department. Its suspension will not materially affect business or banking interests here, as it has been in operation but a few years, and had not done or sought, to any great extent a general business. Whatever loss there may be in winding up its affairs will fall only upon the stockholders." We find the following in the money article of the London Chronicle of the 11th of May:-We learn that eight guineas per cent. have been paid today for war risk on an American vessel (Northern property) from Mobile to Liverpool. On a British ship from Liverpool to Now Or. leans and back three per cent. extra Was asked for war risk. but not paid. As a general rule all American rates are higher, in consequence of the complications. as the sea risk is supposed to be increased by the absence of lights. chance of privateers, &c. On long voyages the extra premium for war risk on Americans ranges fron one per cent. upwards, according to the position of the ship.

11. May 24, 1861 The Weekly North Iowa Times McGregor, IA

Article from The Weekly North Iowa Times, May 24, 1861

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There is not a Printing Ink manufactory south of Philadelphia. Ink will doubtless be declared a contrabrand of war and in that case the "Dixie" newspapers will stop running. If a good many papers North and South had been stopped years ago our present troubles might have been avoided. The bank of the Interior at Albany, N. Y., has suspended. Depositors well secured. Other banks not affected by it. A large frame building on the corner of Union and Kenzie streets Chicago, formerly known as the Granite State House, was burned on Tuesday morning. There were fifty inmates at the time who narrowly escaped in their night clothes. Vanity Fair says the convicts in the Southern penitentiaries offer to join the Confederate army providing they can have their situations at the end of thewar!

12. May 31, 1861 New Orleans Daily Crescent New Orleans, LA

Article from New Orleans Daily Crescent, May 31, 1861

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Helr Orleans Daily Crescent. DEP ARTMNNT COLUMNS. Hem Orleans Moneg Market. CRESCENT OFFICE, No. 70 Campstreet, Thursday Evening. May 30. 1851. The extagnancy which has prevailed for some days still con tinner We caunot arrive at any conclusions why it should not continue to provail, The cotton crop of 1860 has been received, sold and paid for. The sugar and molasses likewise, though there may be R low thousands of hogsheads on hand. The tobacco crop was short, and not much more is expected to be received, The deficiency in tobacco has, however, been made up in the ordimarry articles of potatoes, hay and cotton seed, with a few tens of thousands of barrels of flour. As the chief staple (cotton) is now about cleared off, it would follow that If the disturbed political elements did not rule, there would he very little business doing. It is out of place for the remark that there have never been such times, hard times-they have occurred before, though brought about by other influences. We here in the South, particularly New Orleans, do not experience the sams results of the war as they do in the Northern States. Financially and pecaniarily, the South is an Eden at this time compared with the North. There was nothing worthy of note transpired in the paper market to-day. Some small sams of factors' paper were passed at the rate of 3@4 Ret. per month--rather R hard business, but money is worth what it will bring, or what borrowers can afford to pay for it. though many borrowers pay more than their business will afford and them-infortunately have to suspend. If there is any regular business in one city at this time which will justify the rates of 3(5) Mct. per month on business paper, we should be glad to have it pointed cut. In and about the banks it was very quiet. They renew all paper of which there is only a moderate expectation of its being paid. We have not heard of any discounts being granted to parties desirous of taking a tour in Europe this season, or feed3 ng the Black Repalicans at the North. Many of our citizens have been innocently supporting thousands of their direst-enemies for years past. In many instances direct, in others through the various ramifications of trade. The Exchange market offers nothing for particular comment. Four of our banks have closed their accounts and business with New York, and have nothing to de with that metropolis at this time. Two banks have balances, which they are drawing for at discount. Outside there were Fales of good sight at 2% discount. to the amount of $30,031-the range of the market indicates that there is just no market at all. All exchange busiROSS with New York must be brought to a close at an early day. In foreign bills there was very little done. Some small sales of clear sterling were closed at 100. The binks drew at sixty days at 101@107, according to amounts wanted and time. We did no: learn of a movement in francs and it is difficult to say whether they are worth 5.95, 5.85 or up to 5.50. The Stock market offers nothing for comment. Louisiana State sixes are retailing in New York at low figures, but these figures are 20 criterion for their intrinsic value. They are worth just as much to-day as they were one year ago. The Board of Directors of the Pontehartrain Railroad have declared H dividend of 4 Pet. out of the earnings of the last six months, payable on or after the 10th proximo. This, with 5 et. paid in December last, makes 9 Pet. for the last twelve months. If there is any other railroad in the country, far and near, that has paid 9 act. out of its earnings, we should be glad to have it pointed out. The rates of traveling on the Pontchartrain Hailroad are as low as any on the American centinent. From all accounts before us, we judge they are having a very good time in the great political capital of New York. Four banks holding the highest standing for years past {one of them the Bank of Albany, the oldest institution of the kind in the State) have saspended payments: not only suspended, but are completely bankrupted. The following banks of Albany, New York, have failed, not suspended. The Bank of Albany, capi$501,000 Bank of the Capitol, $519,000 Bank of the Interior, $251,000 Nitional Bank, $300,000. According to the partial reports of the receivers of these banks the greatest swindling has been going on for years. As regards the banks of the city of New York & large number of them are broke, shough they are ash mad to own it. At the Inst dates the Cein Exchange Bank, in regular standing at the Clearing-House, was selling at 60% Bank of America at 96, the Tradesmen's Bank at 95 Continental Bank at 65 or, 35 Bet. discount, and Park Bank at 90. We perceive-that one of the Directors of this bank, formerly a prominent citizen of our city, and who amassed a good deal of money in selling dry goods, say a quarter of a million of dollars, is In strong Republican company. It is manifest that the finan-in position of New York is at this moment in g very en tient condition. The banks, with their $38,000.000 in vault, dare not use it: In fact, New York is doomed. The suse pension of foar banks in Albiny has started a run on the other banks. L The advices from the Western markets are gloomy enough. Illinois, including Chicago money, is at a discount from 30@75 Hot. A money article of the Cincinnati Enquirer, of the 25th, p. rends as follows: no The actual condition of the financial and cosamereial affairs S' present some variation from the same date last week. The throwing out of Kentneky currency has resulted as was anticiSI pated by the larger preportion of our bank managers, at least that portion of them who had sagacity enough to 600 the future in all its various phases It was known beyond question that W Oliio and Indiana could not supply the yacnum produced by jeeting Keatneky currency, and the extreme stringency of the remarket during he past week has left no doubt in the minds of W bankers to make the trial. and is if any, are raisine with it. For banks pr the people received it RS a store in the city that does not take at being made, discrediting the but forepart who few. it. felt of willing heretofore, par. now all there The the that hardly brok. it ers the week shaved it at 4@5 Flot. : but toward the close. the bankers obtain.ug the subrance that not Thank in the State would ellspend. nut down the rare of discount a single 203 set The banks said to be the best in the

13. June 21, 1861 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, June 21, 1861

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Mr. Barnum was in Wall street to-day, in his anxiety for novelties, endeavoring to procure for his unrivaled show one of the Wall street capitalists who, a cording to The Herald, have entered into a conspiracy to block the negotiations of the Government for money. He was not successful. The notes of the Bank of the Interior of Albany, suspended, are no longer redeemed at the Bank of Commerce. The business of the Clearing-House was $15,799,000. We are still sending gold to neighboring cities and the West, and the specie reserve in bank does not increase as rapidly as would be anticipated under the arrivals of foreign gold. The actual amount in vault to-day is not for from $38,500,000. The Western Railroad has declared a dividend of 4 P cent, and the Boston and Providence Road 4 P cent also, both payable 1st July. The Great Western Marine Insurance Company will pay the usual semi-annual interest dividend of 3} P cent on the $1,000,000 cash capital stock on and after the 1st of July. The State of lows is in market for a loan of $400,000 for war purposes. The proposal for the 6 ₽ cent War Loan to Indiana will be received by Messra. Winslow, Lanier & Co. up to Saturday morning. This State stands in very high credit, and ample provision has been made by taxation in the act authorizing the loan to pay the interest and principal. In addition to taxation, the Legislature also pledged for the redemption of the loan whatever may be received from the General Government in reimbursement of the money advanced by the State for war purposes. The same Legislature refused to pass any stay or stop law interfering with the collection of debts. The statement of the commerce of this port, which we published yesterday, shows a very favorable result for this country. In May the importe of merchandise were only $7,225,000, against $14,832,000 in May, 1860, while of exports of merchandise and produce the amount was $11,602,000, against $6,369,000 in May, 1860, an increase of $5,233,000 of exports, making, with the reduction of importe, an aggregate of $12,840,000 in favor of this country in 8 single month. The specie imports were $3,486,000, against +6,000 last year, and the specieexports $124,000 against $5,529,000. For the five months of the present year the imports of merchandise show a decrease of about $31,000,000. and the exports of produce, &c., an increase of about $20,000,000, an aggregate of $51,000,000 in favor of this country. The specie movement in the same pe. riod was $20,500,000,inward, and $13,000,000 outward. The amount of goods warehoused in the same period is $25,400,000, against $16,400,000 last year, an increase of over 50 & cent. The Africa brings about $100,000 in specie, which is less than was anticipated. She brings also a decline in Cousols to 89893, the effect of the death of Count Cavour. The London Money market was in a sensitive state, and an advance in bank interest not unlikely. American Securities were lower; Illinois Central, 40 391 d'scount; Erie, 201@211. Cotton and Breadstutia were dull. The present 5 P cent dividend of the Minnesota Mine is from the last year's earnings of $210,000. The product of the present season indicates that the $5 semi-annual dividend will be continued, even with the present dull times and low figures for copper. The Controller of Wisconsin states that since his report of May 25 about $175,000 bonds of seceded States have been withdrawn. Since May 15, about $390,000 of the poorer sort of billshave been destroyed, leaving the present circulation some $3,740,000, against $1,451,572 on the 1st of October last. The best banks are beginning to take out new circulation.

14. November 21, 1861 The Sun New York, NY

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and Slidell meizure. There to an average decline the railway list of 1@116 per cent., closing, however, with a rally of NOX per cent. on the registered sales of the Board. Government securities are firm. The Money market in moderately active at full prices. Caff-loans on first-class collaferais are easy at 6 per cent. Choice of short date go at w 61/6 per cent. In foreign exchange first class sterling was sold freely at 108M The Receiver of the Bank of the Interior, of Albany, has declared a dividend of fifty cents on the dollar on all demands against the bank allowed h him as Receiver. On change today the Flour market WAR slightly in buyers' favor, with a moderate demand for export and home consumption. Wheat WM one dent. lower with only a moderate export Inquiry. Eye was firm. The Corn market slightly favored the buyer. Pork ruled lower. with only a moderate demand. Beef with In fair request at steady prices, and Lard rather easier with a moderate business.