14828. Brooklyn Savings Bank (Brooklyn, NY)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
savings bank
Start Date
October 10, 1857
Location
Brooklyn, New York (40.660, -73.951)

Metadata

Model
gpt-5-mini
Short Digest
5f5bd51c

Response Measures

Accommodated withdrawals, Partial suspension

Other: Closed temporarily and posted notices explaining inability to convert securities to specie; later expected to reopen.

Description

Multiple newspapers report repeated runs on the Brooklyn Savings Bank (Oct 9–14, 1857). The bank paid all demands but then posted a notice on Oct 14 discontinuing receiving and paying deposits because of the general suspension of specie payments by New York/Brooklyn banks. By Oct 16 reports indicate the bank expected to resume operations — i.e., a temporary suspension following runs with an anticipated reopening. Cause is systemic panic / suspension of specie payments.

Events (4)
1. October 10, 1857 Run
Cause
Macro News
Cause Details
Widespread financial panic/strain in New York (October 1857) led depositors to withdraw funds from savings banks.
Measures
Paid out demands promptly; partly closed doors to control crowds; posted statement of affairs (semi-annual report).
Newspaper Excerpt
A run was made on the Brooklyn Savings Bank; All demands were met. The run on the Brooklyn Savings Bank had somewhat subsided at noon, but up to that hour over $90,000 had been drawn out.
Source
newspapers
2. October 12, 1857 Run
Cause
Macro News
Cause Details
Continued pressure from the wider panic and runs on other banks kept depositors nervous, renewing withdrawals.
Measures
Police called to preserve order; bank continued to meet demands.
Newspaper Excerpt
There was a run made this morning on the Brooklyn Savings Bank: A huge aggregate ... The Bank is abundantly able to meet the run.
Source
newspapers
3. October 14, 1857 Suspension
Cause
Macro News
Cause Details
Bank suspended paying/receiving because of the general suspension of specie payments by New York and Brooklyn banks and inability to convert securities without sacrifice; not described as insolvency of this bank itself but as systemic liquidity crisis.
Newspaper Excerpt
The Trustees of the Brooklyn Savings Bank have concluded ... for the present, discontinue receiving or paying deposits. In this emergency they cannot convert their securities into money without sacrificing the property held in trust.
Source
newspapers
4. October 16, 1857 Reopening
Newspaper Excerpt
The Brooklyn Savings Bank accommodated depositors ... and it is confidently expected that it will be right again in a few days. The South Brooklyn Savings Bank expect to resume business to-day.
Source
newspapers

Newspaper Articles (13)
1. October 11, 1857 Nashville Union and American Nashville, TN
Article from Nashville Union and American, October 11, 1857

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BY TELEGRAPH. NEW ORLEANS, Oct. 9 - otton sales 1000 hales; prices unsettled, but mostly middling at 12c Sales of the week, 12,700 bales. Receipts 40 000 bales. D crease in receipts at this port, 57 000 hales. Money tighter. NEW YORK, Oct. 9 -Cotton quiet; floursales 85,000; wheat $1,25a1 for white; $1,18a 1.22 for red; corn 67a69c.; pork $23a23, Chicago beef 138141 sugar declined 10. Gallandet & Wetmore, bankers nave suspend d The run on the Park bank has subsided-all de mands were met The Central bank of Brooklyn has been enjoined and 8 receiver appointed. A n eeting of the banks reported that they will provide six millions for forwarding produce. CINCINNATI, Oct 9.-There is great ex C tement at the financial news from New York. Business neglected. Flour $450, unsettled whisky 16c.; oats 33.35c.; corn 40.45c. BOSTON, Oct. 9 Failures reported, Lagwerg & Co., straw goods; Milton Gale, oil and leather; Nash French & Co., shoe dealers. WASHINGTON, Oct. 9.-It is probable that the present Government of Nicaragua will be recognized by the reception of a Minister W th the view of securing the privilege of the transit route. The Post Master General has appointed six agents to attend the through Express mail from Baltimore to Cincin ati to secure more regularity The Secretary of the Interior has received advices that within one month the Minnesota wa. gon road will be completed to Fort Ridgely. The Attorney General is examining the basis on which the banks of the District of Columbia have been transacting business. ST. LOUIS, Oct. 9.-Kansas advices say that the Legislature is doubtful-accounts are conflict. ing. The New Mexico mail left Santa Fee on the 15th of September and arrived at Independence on the7th. Otero is re-elected to Congress by 7,000 ma. jority. The Indians quiet. The Cheyennes are anxious to make peace. DETROIT, Oct 9 -Immense quantities of produce are blocked up here for want of funds to carry it forward. The money excitement has subsided. The utmost confidence is placed in the remaining banks. NEW YORK, Oct. 9.-The Erie Railroad Co did not pay their laborers at Berger tunnel to-day. Grest excitement. The track was torn up. The Bowery bank has suspended. It wasasmallaffair. Its bills are secured. ST.LOUIS Oct -Wheat-white $1,06a1,00; corn-white 75c; tobacco improved; hemp un settled. NEW YORK, Oct. 10.-The Associated Press have decided hereafter to employ a substantial news Yacht at New Foundland, to board Foreign steamers off Cape Race, thereby shortening the time of reception of news to from 6 to 8 days. BOSTON, Oct. 10-A letter from Foster, Ro. gers & Co., at Calcutta, dated August 10, don't mention the news respecting Lucknow, except that Have ock reinforced was marching towards it NEW YORK, Oct. 10-The Illinois Central and Erie Railroads have suffered their notes to be protested. NEW YORK, Oct. 10.-Money depressed. Failurs, Seymour & Co., paper dealers; Coit & Co., sugar dealers; J. W. Corleis, dry goods. BOSTON, Oct. 10.-Money depressed. No new failures. CINCINNATI, Oct. 10.-Flour $4,25a4,50; grain unchanged; Whisky 16c.; Star candles 24c.; Tallow 12a13c. ST. LOUIS, Oct. 10.-According to the estimate of the Free State men. the Kansas Legislature will stand, Council--9 Republicans; 4 Democrats-House 24 Republicans; 15 Democrats. NEW ORLEANS, Oct. 10.-Cotton sales, 3000 bales at 11 to 11}c.; flour $5,624c.; nothing doing in exchangd. The ship Sultana from New York reports passing on the 22d, four corpses in the water, supposed to belong to the Central America. NEW YORK, 10.-Cotton and flour quiet; wheat $1,25a1,39 for white; $1,15a1,22} for red; corn 65 a68&c.; Provisions dull. AUGUSTA, Ga., Oct. 10.-Reliable intelligence from Charleston, announce the suspension of the Bank of the State of South Carolina. C.M. Firmer, President. NEW YORK, Oct. 10.-A run was made on the Brooklyn and Bowery Savings banks to-day-all demands were met. The Park bank stood the run successfully. BOSTON, Oct. 10.-The Michigan Central Railroad have suspended until they realise from the proposed bond subscriptions. On the 10th of Nov. their coupons will be paid as usual Meade, Minister to Brazil sails in the frigate Vincennes this day. f What it is doing for the Sick.-The Editor

2. October 12, 1857 Worcester Daily Spy Worcester, MA
Article from Worcester Daily Spy, October 12, 1857

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Monetary. NEW YORK, Oct. 10.-To-day has been the bluest one yet in our market. The Illinois Central and the Erie R. R. have each made an as. signment. A run on the Bowery Savings Bank continued throughout the day, and it is believed the bank is amply able to meet all its liabilities. The run on the Brooklyn Savings Bank had somewhat subsided at noon, but up to that hour over $90,000 had been drawn out. Seymour & Co., paper dealers, have failed, and John N. Genin, the well known hatter, and Fen. ton & Lee have suspended. The announcement of Wm. R. Cary & Co.'s suspension was incorrect, as there is no firm of that name now, and their successors, Cary & Sanger, have not suspended. Railroad stocks went down still lower. Illinois Central bonds have fallen off $15 since yesterday and the shares $5. The Park Bank went through the run yesterday nobly, and came out to-day stronger in specie than before. There was a large business in State stocks, mostly lower prices. Bank stocks sold at a slight decline. There were rumors this afternoon affecting the credit of some of the heaviest houses in the city. H. A. Colt, whose failure is announced today, is the agent of Drake & Co., of Havana. The Bowery Bank goes into liquidation. Stocks at the second board "were dull. Missouri 74 1-8, Virginia 70, Canton Co. 18, Erie R. Road 7 3 4, Illinois Central 64, Cumberland and Pittsburg 8, La Croix and Milwaukie 5 1-2. Reports were current this afternoon, that the bills of the suspended Bowery Bank had been refused by the other banks, in consequence of the depreciation of the securities pledged for the redemption of the bills, but like a thousand other plausible rumors, this had no foundation whatever. Rumors were also current affecting one or two other banks but they are destitute of any foundation. There is a growing feeling here amongst all classes of business men, that the banks must extend their lines of discount, or that they and a large proportion of their patrons must inevitably suspend payment.

3. October 12, 1857 The Evansville Daily Journal Evansville, IN
Article from The Evansville Daily Journal, October 12, 1857

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Trancial. Njw YORK, Out 10-M The reported failure of Geo. BIi S & Co urrent in the streets yesterday proved to be untrud. The firm is one of the strong st in the city, and entertain no thought of suspension: Illinois Central Railroad and Erie Railroad have both suffered their notes to be rotested. Money depressed. Seymour & Co., paper dealers, Coit & Co., sugar dealers, J. W, Colies, dry goods, have miled. BOSTON. Oct 10Money depressed Merchants, h. wever. generally neeting their notes. No new failures. AUGUSTA. On, Oct 10-PM Reliable intelhgence from Charleston announees the suspension of the Bank of the State of South Carolina. a State institution. TOOT NEW M There was a run made this morning on the Brooklyn Savings Bank: A hurge was ngregated n at the Bank and some excit ment previded. The Police was called to preser order. The Bank is abundantly able to meet the run. There was a run on the Bowery Savings Bank. but that institution met all demands promptly. The Park Bank came out stronger claim before, BOSTON, Oct 1 -PM In consequence of delay in Western remittances and thealmost total suspension of P per negotiation here. the M. U. R. R. suspended payment until they can realize from the proposed ubeription to bonds. They will pay their coupons as usual. RICHMOND, Oct 10-P M The Governor has cansed a pro lamation prohibiting the notes of the Bank of Kanawho from being received for debts due the S ate. the Bank having failed to redeem and moved a large amount of its assets beyond the limits ot the State.

4. October 13, 1857 Worcester Daily Spy Worcester, MA
Article from Worcester Daily Spy, October 13, 1857

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Money Matters. NEW YORK, Oct. 12.-No improvement today in money matters, besides the Grocers' Bank suspension. There were a few unimportant failures of merchants. There is a rumor that a party of business men had gone to Albany to urge the Government to call an extra session of the Legislature. At the clearing house-today, it was resolved by the banks to maintain specie payments at all hazards. The failure of the Grocers' Bank created no excitement. The other banks continue to receive its bills on deposits. There was a renewal of the run on the Brooklyn Savings Bank, but all demands were promptly met. There was also a slight run at noon on the Marine Bank. Dispatches from St. Louis announce the failure of Doane, King, & Co., and Collins, Kirby, & Co., of that city, each with liabilities in the Atlantic cities of $1,000,000. Our bank returns today show a decrease in loans of upwards of $2,500,000, and an increase of $75,000 in specie. BOSTON, Oct. 12.-There is nothing new to notice in money affairs. The stringency continues, and what little transactions take place at the brokers' board are mostly pressed sales at low prices. The directors of the Michigan Central Railroad publish a card asking an extension of its paper, maturing between the present date and such time as funds can* be realized from the proposed loan advertised for the 10th of November next. The coupons of the company will be paid as usual, and no change will be necessary in the management of the road.

5. October 13, 1857 The New York Herald New York, NY
Article from The New York Herald, October 13, 1857

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There was a smallrun on the Emigrant Industrial Savings Bank. Tae claims of all parties presenting themselve were promptly met, and they went away satisfied. Our reporter will visit the remainder of the savings banks during the day and lay their s'atements before the readers of the HERALD to-morrow morning. THE BROOKLYN SAVINGS BANK. The run upon the Brooklyn savings bank was continned yesterday, with a rush from the time of the open15g of the doors until they were closed. Rev. Mesurs. Outsiday and Turner expostulated with those of their Faith, but with little effect. Some of the depositors presended w heed what they said, and slinking back returned again as soon as the priest's faces were turned the other way. All the demands made were promptly paid, and there is no danger but all who want their money can get Et. There was more money drawn out on Saturday than yesterday. The persons who were most urgent in their demand were small depositors and tae poores cl 4807. The officers of the bank were compelled to partly close their doors at the usual hour of opening, and at 12 o'clock the follo wing notice was posted up:STATEMENT OF THE AFFAIRS OF THE BECOKLYN SAVINGS BANK ON THE let DAY OF JULY, 1857, BEING THEIR LAST SEMI-ANSUAL REPORT. Resources. Bonds and mertgages on property in the cities of New York and Brooklyn, worth d puble the amount loaped thereoa $1,058,500 00 State stocks and stocks and bonds of the cities of New York and Brooklyn, at their par value 1,276,781 00 Real estate, as estimated by the assessors 45,000 00 Cash on hand and cash funds at sight, since realtzed 101,830 93 Total $2,482,111 93 Liabilities. 2.972,567 65 Amount due to depositors $209 544 28 Surplus Being a surplus of two hundred and nine thousand five hundred and forty-four dollars and twenty-eight cents. The doors of the bank were closed merely for the purpose of keeping the crowd out, and only about fifty perDOES are admitted at once. Several depositers, who hai withdrawn their deposits on Saturday, re-deposited them yesterday morning. SOUTH EBOOKLYN SAVINGS BANK. The run upon this bank had entirely caased before the closing yesterday, the depositors baving sensibly con cluded that in these trying times there was no safer place for their money. The promptness with which every de. mand was met by this and the older ins itution (the Brooklyn Savings Bank), sided by the sober, second thought of the depositors, has brought about this happy result, no beneficial to shem. THE DECLINE IN FLOUR, AND CHEAP BREAD. In the Board of Councilmen last evening, Mr. Warner

6. October 14, 1857 The Washington Union Washington, DC
Article from The Washington Union, October 14, 1857

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THE HARD TIMES IN NEW YORK. Under the above head the New York Times of yesterday morning gives a most deplorable picture of the present state of affairs in that city. We make the following extracts "There was no let up to the pressure yesterday. We are in the midst of Indian summer, and that is about all that keeps the people's spirits up. The wolf-businessgoes over the ferry, up Broadway in the omnibus, in the car, wherever man, woman, or the shop-girl goes, in close companionship. He will not be preached away, laughed away, read away. In Brooklyn the run on the Brooklyn Savings Bank caused such a crowd as to obstruct at times the passage of the cars. In New York as a target-company obstructed the passage of the car all the passengers fell to talking of the folly of target expeditions while the times are 80 hard. The panic haunts all circles. It cannot but be the one topic of conversation everywhere. Every new failure throws some new gang of workmen out of employment. Yesterday's formidable catalogue, however, including principally dry-goodsmen, furnishes, fortunately, a shorter list of discharged persons than might be expected from its length. "The bluest of all the blue times has fallen on the dealers of luxuries ; and by luxuries we do not mean the ornaments of the outer man or woman-diamonds, Jersey pearls, emeralds, opals, or gold and silver gewgaws. Books and music are luxuries now, as much so as new silk and satin dresses, and their adornments. Our great. publishing firms are crushing in, and the retail stores are in a state of thorough stagnation. Yesterday several bookselling and publishing houses went to the wall, while the retailers, for two weeks, have done nothing, literally nothing-have not, as they acknowledged, sold books enough to cover, in profit, half the amount of their clerks' salaries. It is the same, or even worse, with the print and music sellers. In one of the latter houses a very large one, too-we are positively assured that during the last week less than $17 was taken, including orders from the country, where the average daily receipts, before the crisis, was from $50 to $70 daily. And this is only an example of the state of things under the present pressure in similar establishments. The effect of the troubles upon the dry-goods trade is very marked. The wholesale dealers are doing very little. One of them, Lambert & Co., in Chambers street, has hit upon an expedient which, we presume, will be imitated. He proposes to throw open his entire stock at retail, but at wholesale prices-preferring to meet the sacrifice which this will involve rather than make no sales at all. He can in this way, probably, dispose of ten or fifteen hundred thousand dollars' worth, and procure the money which all heavy dealers need so much just now. The misery that is sure to come in the train of this panic to the homes of the poor was foreshadowed in Brooklyn in the case of one poor girl, who learning in the morning that she had been discharged, went home and cut her throat. A run for help had already commenced upon the Children's Aid Society, The Home for the Friendless, and the other charitable institutions of the city. The intelligence offices are crowded past all precedent. We cannot begin to enumerate the people thrown out of business by this terrible financial revulsion, knowing that our figures in almost every case fall below the truth, while, from whole branches of industry our information is so indefinite, we are not justified in reducing it to tabular form. The following, however, are compiled from definite data which we have already published." Then follows a tabular statement which foots up a total of over eleven thousand men thrown out of employment! The cigar-makers head the list, numbering four thousand and fifty!

7. October 14, 1857 Worcester Daily Spy Worcester, MA
Article from Worcester Daily Spy, October 14, 1857

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Monetary Matters in New York-Great Excitement. NEW YORK, Oct. 13.-Today has been a very exciting one in financial matters. Up to two o'clock, fifteen city banks had suspended, of which the following is a revised list, viz: Bank of New York, Artizans', St. Nicholas, Chatham, Ocean, Market, Butchers' and Drovers', Merchants' Exchange, Irving, Citizens', Tradesmen's, Bull's Head, New York Exchange, North River, and Marine. The latter, it is said, was stopped by injunction procured by one of its customers, and it is presumed other banks have been stopped in the same way. By this means the penalty of winding up, which is attached to suspension, is evaded. It is believed that suspension in most cases will be but temporary. This state of affairs, when generally known, will undoubtedly serve to allay the present undue excitement. Wall street, at two o'clock, was crowded with an anxious mass of people. The steps of all the banks were also blocked up by people forcing their way into the banks. At the American Exchange Bank, David Leavitt addressed the crowd, assuring them that that bank would pay all up to the last dollar. He also announced that an agreement had been made with several of the strongest banks, to go through without suspension. It is believed, however, in the streets, that the suspension will be general. It is understood that some of our heaviest Houses have withdrawn their gold from the banks and replaced it as a specie deposit. There were rumors during the morning, affecting nearly all the banks in the city, but the above list gives all that had certainly suspended up to 3 o'clock P. M. The others, it is believed, continued to meet their liabilities up to the clocs of businss hours. The sales of Railroad Stocks at the first board were small, at a general decline. In the State Stocks the business was large at a decline, ex cepting Virginia and Missouri. Bank Stocks all sold at a decline. The run on the Brooklyn Savings Bank was renewed today but with less vigor, the banks paying promptly. Several failures in the Dry Goods line are announced, but none of very prominent firms.

8. October 15, 1857 The New York Herald New York, NY
Article from The New York Herald, October 15, 1857

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BOWERY SAVINGS BANK. The run upon this bank was resumed yesterday morn eg, but towards afternoon the crowd considerably thinged off. A large force of police were in attendance to keep order, but their services were but little needed, as the people were both orderly and in good homor. The bank paid out ten per cent on all deposits, without asking for the usual notice, according to the following by lev:No person shall have the right to demand any part of bis principal or interest without producing the original book. that such payments may be entered therein, or at any other times than on the third Monday in each and every month, upon previous notice of one week to the secretary; and no less sum than live dollars of the capital of any depositor shall be withdrawn, unless the whole sum deposited be less than that amount. This gave great an 1 general satisfaction, and it is pre sumed the end of the run on this excellent and thoroughly sound institution end. Qatte a number of persons who had withdrawn previously, re deposited their respec live sums yealerday, and several new accounts were opened. This bank paid osi yesterday $10,000 up to balf past three o'cleck. One of the officers told our re porter they had $400,000 as yet unlouched in the Assay office. INCIDENTS, ETC. The deposits in a number of the banks are increasing, and the excitement in many quarters dying out. Some of those who have been drawing money in apaste al the savings banks sold the same at a premium, and de posited what was drawn In the very city bills bought The savings banks will put an end to this by paying out city bills to their depositors. We heard of several robberies committed, besides the loss by depositors through carelessness. One young woman who drew $75 thought she placed the money la her pocket, but instead it fell on the sidewalk, and some of the golden treasure found its way into more secure quarters. She only reco vered $55 of the amount. Another woman very fooliahly placed her deposit in a basket she carried, and before she went Twenty paces it was stolen. BROOKLYN SAVINGS BANK. The following notice was posted on the trees in the vial. nity of this bank, on Fulton and Concord streets, yester. day. The crowd was not large at any time during the day, and but very little excitement prevailed:Notice to Depositors in the Brooklyn Savings Bank. In consequence of the suspension of specie payments by the banks, the Trustees of the Brooklyn Savings Bank have concluded that their duty to their depositors demands that they should, for the present, discontinue receiving or paying deposits. In this emergency they cannot convert their securities into money without sacrificing the property held in trust by them for you. They assure the depositors that their money is invested in bonds and mortgages, se eured by real estate worth double the amount of the los 10, and State stocks, county and city bonds of undoubted se curity, bearing interest. As BOOS as circumstances will permit the regular business of the institution will be resumed, of which due notice will be given By order of the Board of Trusters. HOSEA WEBSTER, President. BROOKLYN, Oct. 14, 1857. It is stated that this bank has paid out, since the run be gan, about $300,000. An officer of the bank declared yes terday morning that there was now more specie in the vanits than there has been on any day since the commence ment of the pasic, but it was useless to pay it out to people who didn't want 14, to the detriment of others. The crowd about the bank did not appear excited, and readily re celved the statements of the safety of their de posite. SOUTH BROOKLYN SAVINGS BANK. This bank closed its doors yesterday morning. The fol lowing announcement is posted on the door:SOUTH BROOKLTN A INSTITUTION.) Oct. 1857. In consequence of the suspension of specie payments of the banks of the cities of New York and Brooklyn. the trustees of the South Brooklyn Savings Institution feel bound in duty to the depositors, for the present to discontinue the receiving and paying of deposite in this emergency they cannot con vert their securities into money without a sacrifice which they do not feel as liberty to make. because these securities consist of bonds and mortgages on real estate in this city, worth double the amount loaned, and of New York and Brooklyn city bonds, and Kings county bends, bearing interest No security is more acques tionable, and thus far not do lar has been sacrificed. As soon as circumstances permit the regular business of the bank will he resumed. By order of the truetees, C. DUNNING, Secretary. IRA SMITH, President The Brooklyn Savings Bank expects to beable to resume operations in a few days. THE WILLIAMSBURG SAVINGS BANK. There has bean an almost constant run upon this bank for two weeks past, and on Tuesday they paid out more specie than on any previous day, but notwithstanding this, they opened the doors yesterday afternoon with a larger amount of specie in the vaults than on any previous day. At a meeting of the directors on Tuesday night, the following resolution was passed:Resolved, That it is expedient and for the best interests of the depositors in this bank, to avail ourselves of the right secured to as by the by laws of this Institution, to re-

9. October 15, 1857 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, October 15, 1857

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BROOKLYN SAVINGS BANKS. BROOKLYN SAVINGS BANK. The Brooklyn Savings Bank at Fulton and Concord streets is closed. The following notice is posted in front: In consequence of the suspension of Specie Payments by the Banks, the Trustees of the Brooklyn Savings Bank have concluded that their duty to their depositors demands that they should, for the present, discontinue receivingor paying deposits. In this emergency they cannot convert their securities into money without sacrificing the property held in trust by them for you. They assure the depositors that their money is in vested in Bonds and Mortgages, secured by Real Estate, worth double the amount of the Loans, and State Stocks, County and City Bonds of undoubted security, bearing interest. As soon as circumstances will perm the regular business of the institution will be resumed, of which due notice will be given." The surplus in this bank on the 1st of July amounted to $209,544.28 The President stated that at the present time the surplus is about the same, as it does not vary $10,000, either more or less, at any time. This bank is waiting to see what the other institutions will do. It will be open to-day for the purpose of giving information to such depositors as may visit the institution. CENTRAL BANK SAVINGS DEPARTMENT. This Central Savings fund has gone down with the Central Bank, of which it was an important limb. FARMERS' AND CITIZENS' BANK SAVINGS DEPARTMENT. The same as the Central. SOUTH BROOKLYN SAVINGS INSTITUTION. Tne South Brooklyn Savings Institution, at Atlantic and Clinton streets, is closed for the present. The following notice is posted on the door: In consequence of the suspension of specie psyments of the banks of the City of New York and Brooklyn, the Trustees of the South Brooklyn Savings Institution feel bound, in duty to the der ositors, for the present to discontinue the receiving and paying of depositors. In this emergency they cannot convert their securities into money without a sacrifice which they do not feel at libery to make, because their secutities consist of bonds and If ortgages on real estate in this city worth double the amount loaned, and of New York and Brooklyn City bonds, and Kings County bonds, bearing interest. No security is more un questionable, and therefore not a dollar has been sacrificed. As soon as circumstances permit, the regular business of the bank will be resumed. This institution publishes the following statement of its affairs: STATEMENT OF THE SOUTH BROOKLYN SAVINGS INSTITUTION, October 1, 1857. Bonds and mortgages on property in the City of Brooklyn, with double the amount loaned there$192,765.00 on, and interest accrued on the same Stocks of the Cities of New-York and Brooklyn and 131,600.00 Kings County, and interest 40,850.00 Loans on Stocks 23,000.00 Real estate 18,927 49 Cash on hand 407,142 Total $397,752.04 Liabilities THE WILLIAMSBURGH SAVINGS BANK. There has been an "almost constant run upon this Bank for two weeks past, and on Tuesday they paid out more specie than on any previous day, but notwithstanding this they opened the doors yesterday afternoon with a larger amount of specie in the vaults than on any previous day. At the meeting of the Directors on Tuesday night, the following resolution was passed: Resoived, That it is expedient and for the best interests of the depositors in this Bana to avail ourselves of the right secured to us by the by-laws of this Institution, to require one month's notice before payment on all drafts amounting to over fifty dollars. Before adjourning, the Directors learned of the action of the officers of the New-York Banks to suspend specie payment, and accordingly decided to pay depositors current bills, should they prefer them to waiting 30 days. At 3 o'clock, the hour of opening, there were about fifty persons in waiting, and up to 7 o'clock there was no press. A majority of the depositors received bills, while a few gave the required month's notice. THE WILLIAMSBURGH CITY BANK. The excitement in the vicinity of this bank, caused by the suspension of specie payments of the NewYork City banks, was almost entirely allayed. For a hile in the morning the business was interrupted in consequerce of the bills having been exhausted the evening previous. Mr. Field, the cashier, visited some twenty banks in New York, and, with one exception, was unable to procure any bills on the best security, the banks being all in the same condition. After the returns of the Clearing-House had been made business went on as usual. The amount of deposits was about equal to that withdrawn. Shortly after closing & large amount of bills was received for the operations of to day. Mr. Field states that this bank has never been on a firmer basis than at present, and there would not have been a suspension of specie payment but for the action of the New-York banks, as they have a plenty of specie in their vaults. The circulation of this bank, it is stated, amounts to $140,000. They are receiving on posit all the bills of New-York and Brooklyn Backs, except the East River, Bowery, Grocers, and Marine, and the Central of Brooklyn.

10. October 16, 1857 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, October 16, 1857

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burgh City Bank order Vacaulog the appoint ment of Mr. Beach as Receiver, inasmuch as the assignees and some of the principal stockholders were, it is alleged. not reprecented on the application. Argument will be heard on this motion to-day. THE BROOKLYN SAVINGS BANKS.- The South Breoklyn Savings Bank expect to reaume business to-day The Brooklyn Savings Bank accommodated depositors in needy cin cumstances yesterday, and it is co fidently expected that it will be right again in a few days. THE REPUBLICAN JUDICIAL CONVENTION OF THE SECOND DISTRICT.-This Convention met in the S. preme Court Room of the City Hall at the same time. Gen. H. B. Duryea was appointed Chairman, and John J. Clapp of Westchester, Secretary. The roll of Delegates was then called and the following answered: Kings- S. M. Meeker, D. C. Winslow, S. E. Church, Wm. C. Coit. H. B. Duryea, J. K. Miller, J. H. Rodman, S M. Parsons, C. J new Wm. Peet. C. J. Fish, Geo. H. Fisher, James Gridley, D. .T. Waldron. Westchester-D. W. Travis. Nelson Baker, J. J. Clapp, Odell Close, Silas D. Gifford, F A. Coe. Queens-A. G. Carli, Lott Cornelius, G. Sayers, R Ingram. Suffolk- W. Smith. E Griffin. Rockland-Lutho Caldwell. Richmord-Theo C. Vermilyea, T. Westervelt. Putsam-J. G. Miller, J N. Howell. Dutchese- H. C. Place, L. L. Brooks, Robert N. Palmer, M. A. Fowler. Orange-D. A. Scott, J. C. McConnell, A.H. Sinsebaugh. An informal ballot for Judge of the Supreme Court for the Long Term was then taken, as follows Edward Wells of Westcheater. Lucien Birdreye of Kings Jesse C Smith of Kings. W.I Street of Richmond The following Committee of Conference was then appointed to meet a similar committee of the Ameri cane, Lamely: Rodman of Kings, Travis of Westchester. Sayers of Queens, Miller of Putnam, and Fowler of Dutchess. A recese was then taken, and on reassembling, the Convention proceeded to ballot for the long term, with the following result: 20 Edward Wells.. Lucien Birdseye An informal ballot was then taken for a candidate for the short term, as follows: 4,Thomas Nelson Alex. Hadden 18/W.I. Street. Jesse C. Smith 9A. W. Dans Edward Wells A formal ballot then taken resulted in the nominati of Jesse C. Smith: Street Smith Dans. Wells. Neisen The Conference Committee was renewed, and a re. cess wastaken to ble the two Committees to make a choice of candidates. The Conference Committees -Two Conference Committees were successively appointed without being able to come to 80 agreement. A third was finally selected. and they concluded that the R should have the nominee for the short term from Brooklyn, and the Americans the no nicee for the long term from the country. In accordance with this agreement, The Americans nominated Thomas Nelson of West cheeter for the long term, and The Republicans nominated Lucien Birdseye of Kings Coulty for the short term. REPUBLICAN ASSEMBLY CONVENTION.-The Republican Convention for the Sixth Assembly District is to be held this evening. A8 there appears to be some disstification in regard to the manner in which the American Convention for the same district have made their romination, it is not probable that any union will be effected. The candidates most prominent among the Republicans are William Wall and Damas Strong, eege. DEMOCRATIC ASSEMBLY NOMINATION.-John A Dayter, pro tem nominated for Assembly by the Democratic Convention of the Fifth District, Nineteenth and Eleventh Wards, in place of Felix Campbell, declined. THE AMERICAN JUDICIAL CONVESTION FOR THE SECOND DISTRICT.-The American Convention to nominate candidates for Judges of the Sapreme Court of the IId Judicial District, met in the Governor's Room, City Hall, yesterday afternoon. Howard C. Cacy of Kings was called t the Chair, and H. W. Eastman of Queens was appoint ,d Secre taxy Committee on Credentials having been appointed, colsisting of Messre. Nelson of Westchester and Reeve of Queens, the list of delegati 58 was called as followe Kinge-Martin Schoonmaker, John Q. Adams, Adam Suydam, Geo. L. Bennett, H. C. Cady, C. M. Felt, H. D Peck M. B. Voorbies, J. H Clayton J. J. Post, E. H Burnett, John M. Corlies, J. R. Buiton, R Isdell, G. M Stevens, J. B. Teel, D. L. Northup, E. T. Wood, Wm. H. McDonald. Queens-II. W. Eastman, J. T. Reeve, E. Webster. Richmond-S. B. Wood. Westchester-H. Nelson, J. P. Sanders, M. L. Cobb, A.J. Hyatt, W. C Howe. Orange-S. J. Wilking, J. D. Friend, C. Bremer, J. M. C. Leper. A Committee of five, one from each county, was on motion, appointed to confer with & similar Committee appointed by the Republican Convention. Toe Chair appointed Messrs. Sanders of Westchester, Wilkine of Orange, Wood of Kings, Webster of QUEEDS and Wood of Richmond as such Committee. On metion each Assembly District was privileged to cast three votes Mr. Thomas H. Rodman, from the Republican Con vention, was bere announced as Chairman of the Committee of Conference appoiated by that body. A receive thereupon taken to enable the Committees to confer. On reassembling, Mr. SANDERS, of the Committee, reported that the Joint Committee had come to the conclusion that each Convention proceed to nominate cardidates for the long and short terms, and suggested that the Committee be continued and empowered to select two candidates from the four receiving the higheat votes-one a Republican. the other ao American subject to the approval of the Convention. The report wasaccepted. After some discussion, a ballot was taken for a candicate for the abort term, with the following result: Thomas Nelson John Dikeman Robert S Hart Selah Squires M Cobb. 45 Total S J. Wilkin A formal ballot was taken without choice, and on the record formal ballot Judge Wilkies was nominated by the following vote: 23 S.J. Wilkins of Orange 20 John Dikeman, of Kings. M L Cobb, of Vestchester 45 Total On motion of Mr. Estiman, the nomination of Mr. W kina was declared meanimous. Nominations were and an

11. October 23, 1857 Wilmington Journal Wilmington, NC
Article from Wilmington Journal, October 23, 1857

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on retailers of spirituous liquors, and smaller sums, making in all $8,933 08. Add these to the above amount of $491,411 21, and the total amount of nett public tax for 1857, will be $500,344 29.-Raleigh Standard. The Hard Times In New York. Under the above head the New York Times of yesterday morning gives a most deplorable picture of the present state of affairs in that city. We make the following extracts " There was no let up to the pressure yesterday. We are in the midst of Indian summer, and that is about all that keeps the people's spirits up. The wolf-business -goes over the ferry, up Broadway in the omnibus, in the car, wherever man, woman, or the shop-girl goes, in close companionship. He will not be preached away, laughed away, read away. In Brooklyn the run on the Brooklyn Savings Bank caused such a crowd as to obstruct at times the passage of the cars. In New York as a target-company obstructed the passage of the car all the passengers fell to talking of the folly of target expeditions while the times are SO hard. The panic haunts all circles. It cannot but be the one topic of conversation everywhere. Every new failure throws some new gang of workmen out of employment. Yesterday's formidable catalogue, however, including principally dry-goodsmen, furnishes, fortunately, a shorter list of discharged persons than might be expected from its length. " The bluest of all the blue times has fallen on the dealers of luxuries and by luxuries we do not mean the ornaments of the outer man or woman-diamonds, Jersey pearls, emeralds, opals, or gold and silver gew-gaws. Books and music are luxuries now, as much SO as new silk and satin dresses, and their adornments. Our great publishing firms are crushing in, and the retail stores are in a state of thorough stagnation. Yesterday several bookselling and publishing houses went to the wall, while the retailers, for two weeks, have done nothing, literally nothing-have not, as they acknowledged, sold books enough to cover, in profit, half the amount of their clerks' salaries. It is the same, or even worse, with the print and music sellers. In one of the latter houses-a very large one, too-we are positively assured that during the last week less than $17 was taken, including orders from the country, where the average daily receipts, before the crisis, was from $50 to $70 daily. And this is only an example of the state of things under the present pressure in similar establishments. The effect of the troubles upon the dry-goods trade is very marked. The wholesale dealers are doing very little. One of them, Lambert & Co., in Chambers st., has hit upon an expedient which, we presume, will be imitated. He proposes to throw open his entire stock at retail, but at wholesale prices-preferring to meet the scacrifice which this will involve rather than make no sales at all. He can in this way, probably, dispose of ten or fifteen hundred thousand dollars' worth, and procure the money which all heavy dealers need SO much just now. The misery that is sure to come in the train of this panic to the homes of the poor was foreshadowed in Brooklyn in the case of one poor girl, who learning in the morning that she had been discharged, went home and cut her throat. A run for help had already commenced upon the Children's Aid Society, The Home for the Friendless, and the other charitable institutions of the city. The intelligence offices are crowded past all precedent. We cannot begin to enumerate the people thrown out of business by this terribly financial revulsion, knowing that our figures in almost every case fall below the truth, while, from whole branches of industry our information is SO indefinite, we are not justified in reducing it to tabular form. The following, however, are compiled from definite data which we have already published." Then follows a tabular statement which foots up a total of over eleven thousand men thrown out of employment ! The cigar-makers head the list, numbering four thousand and fifty ! ANOTHER COWHIDING AFFAIR AT NEW ORLEANS.The vicinity of Josephine and Laurel streets, was terribly thrown out of its equilibrium a few nights since, says the Crescent, by a foot race, in which the parties were a man, a woman, and a cowhide; the man being in front, the cowhide close after him, with the woman bringing up the rear. The woman and the cowhide started the man in the coffee-house at the corner of the streets named, the man run about two spaces, when, finding that the cowhide lit on his shoulders at nearly every jump, he doubled and put back to the coffee-house, into the coffeehouse, and up stairs over the coffee-house the cowhide and the woman following him the whole time, and cornering him and giving him his full dost at last

12. October 24, 1857 Keowee Courier Walhalla, Pickens, SC
Article from Keowee Courier, October 24, 1857

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the Hermitage, and its tender to the Federal Government. In case the tender is not accepted, the Governor recommends that the property be retained as a residence for the future Governors of the State. GETTING FRIGHTENED.-Gov. Fletcher, of Vermont, in his recent message to the Legislature expressed the fear that slavery would be introduced into that State. The Boston Post says that the Green Mountains which make up that State, are in winter white as snow, but Gov. Fletcher is an evergreen. CHICAGO, 12 -A destructive fire broke out yesterday morning in State street, destroying the entire block between Monroe and Adams streets. The buildings were mostly frame. The loss by the fire is estimated at $125,000. THE LAST OF Ir.-We have to announce another incident in the Burdell murder case, which has furnished New York with an exoitement that endured unprecedentedly long. Mrs. Cunningham, who has been undergoing trial, failed to appear at Court on Tuesday, and her counsel says he has no knowiedge of her whereabouts. HORRIBLE TRAGEDY IN ARKANSAS.-The Bastrop (Texas) Advertiser of the 23d ult. says that on the 14th, Mrs. IIill, a widow, residing near Berlin, Arkansas, and a negro woman were murdered by negroes, who then fired the house and burned the bodies. A few days after two negroes confessed to having committed the deed, and they were taken by the citizens and burned alive. CONUNDRUM.-Why is a peg in a new boot like a pang of conscience? Bècause it is apt to pierce the sole. MORE PEARLS.-Pearl muscles have been discovered in the Dano river, in Texas. One gentleman, living near Fort Marion, has employed ten men to dig for those muscles, and lias obtained ten thousand pearls, one of the size of a rifle ball. Specimens have been sent to New York and New Orleans, to asce tain their real value. WILD PiGEONs.-Immense quantities of these birds (says the Warrenton, Virginia, Whig) areswarming in the woods near town, and are killed in large numbers by our hunters. Over 300 were brought into Warrenton on Thursday evening. In Prince William two gentlemen at one hunt killed 450. A TURN Солт.-Н. S. Foote, formerly United States Senator from Mississippi, and lately a prominent American candidate in California, was one of the speakers at a late Dem ocratic meeting in New York. This gentleman during the last twenty years has been upon every point of the political compass.Push him round! DREADFULCASUALTY.-The Marlboro (Md.) Advocate records the death of Miss Margaret Coffren, a daughter of Mr. Francis Coffren, of Nottingham district, from her dress accidentally taking fire. She was in the 20th year of her age. FLEECED BY Pickrockers.-During the foolish run on the Brooklyn Savings Bank, on Saturday, 80 veral persons who, in the excitemont of the moment, withdrew their deposits, were fleeced by pickpockets before leaving the bank. One lady was robbed of $200.

13. October 24, 1857 Keowee Courier Walhalla, Pickens, SC
Article from Keowee Courier, October 24, 1857

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FLEECED BY Pickrockers.-During the foolish run on the Brooklyn Savings Bank, on Saturday, several persons who, in the excitemont of the moment, withdrew their deposits, were fleeced by pick], Jekets before leaving the bank. One lady was robbed of $200.