Article Text
FAILED. NEW Your, Aug. 29.-Atwood & Co., Bank. ers, with large Western connections have failed. BUFFALO, N, Y., Aug. 29.-The Reciprocity Bank, has suspended and Williams, Tanner & Co., forwarders, have failed.
15016. Reciprocity Bank (Buffalo, NY)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- state
- Start Date
- August 29, 1857
- Location
- Buffalo, New York (42.886, -78.878)
Metadata
- Model
- gpt-5-mini
- Short Digest
60c6e3cb
Response Measures
None
Description
Multiple contemporaneous newspaper dispatches (late Aug–Sep 1857) report the Reciprocity Bank of Buffalo as having suspended (Aug 29) during the wider financial panic of 1857. There is no explicit description of a depositor run on this specific bank in the clippings (some articles mention runs on other Buffalo houses). By Sept 7 the New York Herald records a receiver (William Williams) with sureties, and later items list the bank among winding-up/closed institutions, consistent with suspension followed by permanent closure/receivership. Cause attributed to the broader 1857 financial panic rather than a discrete rumor or bank-specific fraud.
Events (3)
1.
August 29, 1857
Suspension
- Cause
- Macro News
- Cause Details
- Suspended amid the nationwide financial crisis/panic of 1857 and multiple contemporaneous bank failures and suspensions in New York and elsewhere.
- Newspaper Excerpt
- BUFFALO, August 29.-The Reciprocity Bank has suspended.
- Source
- newspapers
2.
September 7, 1857
Receivership
- Newspaper Excerpt
- The following gentlemen have become sureties for William Williams, Esq., the Receiver for the Reciprocity Bank, in the sum of $350,000: Miles Jones, Samuel F. Pratt, Geo. C. White, H. E. Howard, Wm. H. Groene and E. W. Rogers.
- Source
- newspapers
3.
February 24, 1858
Other
- Newspaper Excerpt
- Winding up the following N. York Banks. and going into final liquidation: ... Hollister Bank, Reciprocity Bank, Sackets Harbor Bank, Oliver Lee & Co's Bank, and Pratt Bank, Buffalo;
- Source
- newspapers
Newspaper Articles (14)
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Telegraphed to the New Orleans Crescent. FOUR DAYS LATER FROM EUROPE. ARRIVAL OF THE STEAMSHIP ATLANTIC. ADVANCE IN COTTON. [BY THE NATIONAL AND SOUTHERN LINES.] New YORK, Aug. 30.-The U.S. mail steamship Atlantic, from Liverpool on the afternoon of the 19th, has just arrived. Commercial Intelligence. LIVERPOOL, Aug. 19.-The sales of Cotton for the last three days amount to 28,000 bales, speculators taking 4,000 and exporters 4,000 bales. The last advices from the United States caused an advance of 1.16. The advance is mostly on Fair and Middling qualities. The market closed buoyant. Manchester Markets. Our advices from Manchester by this arrival are quite favorable. The weather continued quite favorable for crops. Breadstuffs. f The Breadstuffs market closed buoyant, with an e advancing tendency, with the exception of Indian Corn, which closed very dull. Money Market. LONDON, Aug. 19.-Consols for money closed at e 91 to 9c. Washington News. 1 WASHINGTON, August 29-Com. Cassin died today at Georgetown. e Advices from Brazil state that Lleut. Cheever died on board the St. Lawrence. More Marine Disasters. NEW YORK, August 29.-The ship Charles Albert, from Genoa, went ashore at Cranberry Inlet. One passenger was lost. The Thomas W. Smith is ashore at North Barnegat. The crew are all saved. The ship Clara Brookman went ashore on Squam Beach last night. Ship and cargo a total loss ; passengers and crew saved. Financial. BUFFALO, August 29.-The Reciprocity Bank has suspended. Williams, Tanner & Co. have failed. NEW YORK, August 29.-Mr. Endlow, cashier of the Ohio Life Insurance and Trust Comyany, has been arrested. Domestic Markets. NEW YORK, August 29.-Cotton closed quiet. Wheat firm. Corn 90c. Sugar heavy. Rice 1 lower. Y Whisky 1/2 lower. CINCINNATI, August 29.-Flour $5.25 to $5 50. Wheat dull. Whisky 21}c. Linseed Oil 70c.
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MORE FAILURES. BUFFALO, Aug. 31.-The Hallister Bank has failed. A heavy run made on White & Oliver, and Lee & Co., and the Buffalo City Banks caused much excitement this morning: but the excitement is now subsiding. The Reciprocity Bank did not resume this morning.
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Monetary Difficulties at Buffalo. BUFFALO, Aug. 31.-The Hollister Bank has failed. There is a heavy run on Messrs. White, Oliver, Lee, & Co's. banking house, and on the Buffalo City Bank. The excitement this morning was intense, but it is now subsiding. The Reciprocity Bank did not resume this morning.
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Bankers and brokers, since the failure of the Ohio Life and Trust Co., are tumbling down like loose bricks. Messrs. Atwood & Co., N. York, have failed; the Reciprocity Bank, Buffalo, and the Kanawha Bank, Va., have suspended. There is an immense amount of paper on the Kanawha Bank circulated in this region, and it is mostly in the hands of honest, hard-working men!
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THE NEWS. -The free-State men of Kansas, in Mass Convention at Grasshopper Falls on Wednesday, the 26th nlt, resolved to participate in the October election for delegate to Congress and members of the Territorial Legislature, in spite of the swindling bogus apportionment. Marcus J. Parrott, of Leavenworth, was nominated for Delegate. -In New York, on the 2d, Judge Peabody directed not to discharge the writ of habeas corpus in the ease of Mrs. Cunningham. The question of bail will be argued on Thursday. FOREIGN-The steamship Vanderbilt from Havana and Southampton the 22d, arrived at New York on the 2d. By this arrival we have important advices from India. General Barnard and Sir Henry Lawrence were dead. The Europeans at Ikernonedose had been massacred, and that place recaptured. More English troops had arrived at Calcutta. The rebels had been defeated in three engagements. No decision had been come to at the departure of the Vanderbilt concerning the Atlantic cable. The Directors sit in permanance, and the commanders of all the ships will consult with them. The official report of the Engineer is published, and expresses greater confidence than ever as to the final result. -An election for State and county officers took place in Vermont on Tuesday, the 1st. A dispatch from Montpelier states that the vote was small, but the returns show large Republican majorities. Thirty-one towns elect thirty Republican Representatives and one Democrat to the Legislature. A Democratic gain of one. -Tuesday was a day of universal financial excitement on Wall street, New York. A dispatch of that date says: "The Mechanic's Banking' Association has closed its doors in consequence of the defalcation of one of its officers to the amount of $70,000. J. H. Prentiss & Co, exten-ive hat manufacturers, failed, and Adams & Buckingham, bankers and dealers in flour, are reported failed. Money is very stringent. There are heavy runs on several Banks." -The two Conventions at St. Paul have agreed upon one Constitution to be submitted to the people of Minnesota. -We learn, through intelligence by the steamer Atlantic, which arrived at New York on the 31st, from Liverpool on the 19th, that the loss of the Atlantic Telegraph Company by the breaking of their cable is not likely to exceed £25,000. It is confidently anticipated that at least one half of the sunken portion will be recovered. The directors had not determined when the steamer left whether they would make another trial this season or not, but the probability is that they will wait now till another summer. -The following additional bank failures are reported: Reciprocity and Hollister Banks, of Buffalo, and Bergen County Bank, N.J. STEWART ELECTED GOVERNOR OF MISSOURI. -Ail the counties in the State have been heard from officially, and Stewart beats Rol.. ns 343 votes. Sasava the Renut blican
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THE FINANCIAL TROUBLES. MASSACHUSETTS. DANBY-BANK, VERNONT. [From the Boston Transcript, Sept. 4.] Bills of the Danby Bank, at Danby, Vt., are not received at the Suffolk Bank. NEW YORK. FAILURE OF THE OLIVER LEE & CO. BANK. [From the Buffalo Advertiser, Sept. 4.] The feeling of doubt as to the soundness of the Oliver Lee & Co. Bank, which has prevailed in financial circles since the run of Monday, is now confirmed by the suspen- sion of the bank. The question of continuance or failure was known to depend, not on the ability of the bank it- self, but on the support of large capitalists at the East, whose apparent interest it was to maintain it. These have withdrawn their support; whether from inability or un- willingness to continue it is unknown as yet, and the fail- ure is the result. The condition of the assets of the bank, so far as bill holders are concerned, is satisfactory. It has received in aids from the Comptroller, $104,220. To secure this the Comptroller holds: New York State stocks...$87,000 First class mortgages19,000 Total security.$106,000 The bills are, of course, entirely reliable, and are re- ceived at par to-day by the savings and other banks of the city. The chance of depositors is not so cheerful, though the number and amount of deposits has been rapidly decreased during the past few days. Among the assets of the bank are $204,600 of the Buffalo Car Company's paper. Up to the time of writing this paragraph we hear no rumor in- volving the standing of any other banks in the city. So far as is known there is no reason to suppose that this failure should involve any of them. It has been under- stood for some time past that the life of the Oliver Lee Bank was precarious, and other institutions had ample time to protect themselves. There is no run upon any of them. Paper waiting at the Oliver Lee & Co. Bank to-day is transferred to the Attica Bank, where those having accep- tances to meet have had the opportunity of paying. FAILURE OF THE NIAGARA RIVER BANK. [From the Buffalo Courier, Sept. 5.] This institution, located at Tonawanda, in this county, suspended payment yesterday, owing to the failure of Mr. Bates, of Boston, who is understood to be its principal pro- prietor. Its stoppage is not attributable, we are informed, to embarrassments arising from any of the recent bank failures in this city, but to the suspension of its Eastern debtor. HOLLISTER BANK. The following gentlemen have become sureties for Alanson Robinson, Esq., the Receiver for the Hollister Bank of Buffalo, in the sum of $80,000—Robert Hollister, Horatio S. Stowway, Albert H. Tracy, Wm. Wilkeson, Nathan F. Hall, Wm. Laverack, E. G. Spaulding, Geo. C. White, C. B. Ganson and Wm. Fiske. RECIPROCITY BANK. The following gentlemen have become sureties for William Williams, Esq., the Receiver for the Reciprocity Bank, in the sum of $350,000:—Miles Jones, Samuel F. Pratt, Geo. C. White, H. E. Howard, Wm. H. Groene and E. W. Rogers. ILLINOIS. EXTRACT FROM A LETTER FROM A PRIVATE HOUSE IN CHICAGO. CHICAGO, September 2, 1857. Your favor of 31st of July has been duly received. You probably know, before this letter reaches you, that the rumor in regard to Mr. Ogden's failure was premature. Arrangements have been made to extend payment, and it is here expected that O. will be abundantly able to get along. I think you have no occasion to be alarmed; on the contrary you may congratulate yourselves that a part of your funds is safely invested in real estate in this city. Whatever may be the fiscal result of the present state of things at the East, the evil effects can be temporary only; and, though real estate may be somewhat affected, there is still a bona fide value in the property of a city backed, as we are, by the richest country of the world. The present case of the money matters West may be a sign of the postponement of the crisis only. But still we have such an extraordinary superabundance of produce that the effects of such a crisis will be less severely felt here than elsewhere. Though very little real estate here is changing hands, yet there has been no positive de- cline, nor seems holders particularly anxious to sell. On the whole I think that we shall not lose materially. Money will seek an investment somewhere, and Eastern people may come to the very reasonable conclusion that money can be invested to better advantage in Western lands than in good for nothing railroad bonds or stocks. To be sure it will entirely depend upon the manner in which the West will stand the shock. It is somewhat singular that the shock should come from the East, whilst Eastern financiers have for some time raised quite a hue and cry about the West. Certainly there would have been no difficulty what- ever out here, as a kind Providence has interfered in our behalf and provided us with such a large amount of funds in the shape of produce, that the best state of things would have undoubtedly existed if it had not been for the col- lapse East. It seems as though the financial world was standing on a volcano. We are in a safe and fine condition—not, of course, making anything, as we are determined not to discount at all until things have regulated themselves. We are posi- tive that the course we have adopted is the right one, although, of course, disliked by our customers. Thank God we have kept aloof from all kinds of speculation. THE PANIC AT THE EAST—ITS ORIGIN—ITS EXTENT. [From the Chicago Democrat, August 29.] A careful perusal of the papers that arrived by the mail last night, as well as our continued telegraphic despatches, lead us to think that we have heard the worst. But we would be the last to inspire anything like over confidence. In money matters, and especially in paper money matters, people should always be watch- ful. Ever so carefully administered, so sudden is the fall of stocks, that our banks of issue may fall when least ex- pected. If we have heard the worst, the stampede at the West in consequence of failures at the East may prove an ex- cellent thing for the West in making our paper money in institutions more cautious. Providence has blessed the West this year beyond all precedent. We have not only to thank him for an abun- dant harvest, but also good health. If our farmers can save their crops without any loss on currency, as we mean they shall, it is very doubtful whether Chicago will not do more business in a fall than any city in the Union, save New York, and also whether the stock of all the railroads bringing freight here will not be higher than it ever was before. The origin of the crash at the East was the evil conse- quences of bankers dabbling in railroad speculation. We cannot learn that there has been a single failure, or even a discredit, that has not been caused thereby; and most of the failures have arisen from dabbling in the Southern Michigan Railroad stocks, or those of its branches, de- pendencies or tributaries. We learn that, whatever troubles the Rhode Island Cen- tral has, arise from the railroad speculations of its friends in this region. The fact is, the railroad bubble has about bursted; and the man who undertakes to speculate with paper money and with railroad stocks, at one and the same time, is very sure to explode his friends and neighbors if he does not himself. The fall of the Michigan Southern Railroad stock must gain thousands. Yet there appears to have been no disho- nesty on the part of its managers. To be fashionable in our language, they were only a little too enterprising. They undertook too much and bursted. It is confidently predicted that the storm in the money market will only injure those who have been using their banks to build railroads and speculate in their stocks. All such are likely to be crushed. In another column, we republish the condition of our Illinois banks. An important law with reference to our banks was passed by our last Legislature. It was peti- tioned for by every commercial man in our State. Let the Bank Commissioners and the State officers at Springfield enforce that law, and also let them examine the stock put up for securities and call for more if, according to present rates they are not sufficient. There is a report among bankers here that Mr. Henry is in favor of enforc- ing the law to the letter, and that he is overruled. Can this be possible? The panic has not reached here yet. But it may come. Let our officers now in time do their duty and we think Illinois cannot be injured. At least, we think few bankers in paper money need be frightened at its approach, and least of all at its mere prediction in a Chicago newspaper. And so we repeat our former advice to people respecting their currency. Let them keep it on safe deposit when they have no use for it. A WESTERN FINANCIAL CENTRE. [From the Chicago Press, Sept. 2.] Recent events in the financial affairs of the East, taken in connection with the unshaken position of all the great interests of the West, lead us to speculate anew upon the necessity and the certainty of a great financial centre being established at no distant day in the Northwest. We have argued on several occasions, during the last two or three years, that inasmuch as the location of a financial centre must depend upon the controlling interests of a country to be accommodated by financial facilities, and as the agricultural interest is necessarily that upon which all others depend, the West, or rather the Northwest, by virtue of its almost unlimited natural resources, would before very long declare itself independent of New York. Now we are convinced that the event is nearer at hand than we had at first supposed. That New York will al- ways remain the chief seaport of the continent no one will venture to dispute. As the principal agent of the manufacturers of the East, the cotton factor of the South, and the entrepot of the great bulk of foreign importa- tions, it can have no successful rival, but it will not much longer be able to control to the same extent as formerly the immense grain and provision trade of the West. The Erie canal, which more than any other single agency, has contributed to make New York what it is, is now almost ridiculously inadequate to meet the demands upon it, with all the aid that is afforded by two parallel lines of railroad. Western productions, except such as are needed for East- ern consumption, must take another direction to a foreign market. Everything points to the St. Lawrence as their outlet to the ocean, and to Chicago as the great point of ex- port and import for a vast foreign trade. The Northwest, of which Chicago is the natural commercial centre.
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Monetary Matters. Prepared Weekly by J. Jay Know & Co., Bankers, Phanix Block, St. Anthony Street, St. Paul. The Bankers, since the news of the extensive failures in New York, decline generally to increase their loans. Payments and collections are generally slow. Money is in demand on the best names at from 3 to 5 per cent. per month. Gold & Exchange is scarce, and many of the Bankers declines to sell, except to their customers. The Board of Brokers have advanced the selling rate of Exchange to 1½ per cent. We quote: BUYING. SELLING. Exchange on N. York, ½ per cent. prem. 1½ per cent. " " " " 1½ St. Louis, X " " Galena, " " ½ Chicago, " 2 Gold, Duncan, Sherman & Co.'s Foreign Fx'ge. $5 05 to the £ Land Warrants, 160s & 80s 03, 120s, 97 ets. The following Banks have recently been discredited: Canal Bank, Cleveland, Ohio. Seneca County Bank, Ohio. Norwalk Bank, Ohio. Rhode Island Central Bank. Tiverton Bank, Rhode Island. Farmer's Bank, Wickford, Rhode Island. Middleton Bank, Pa. Warren County Bank, Pa. Bergen County Bank, N.J. Kanawha Bank, Va. Sackett's Harbor Bank, N. Y. Reciprocity Bank, Buffalo, New York. Ontario Bank, N. Y. Hollister Bank, N. Y. Oliver Lee & Co.'s Bank, N. Y. Mechanics Bank Association, N. Y. Danby Bank, Vermont. The Sackett's Harbor, Reciprocity and Ontario Banks are Safety Fund Banks, and have no securities. The Hollister Ban k is secured by-Bonds and Mortgages $39,400 New York State Stocks 63,500 $102,900 Total Circulation $100,269 Oliver Lee & Co.'s Bank is secured byBonds & Mortgages $19,000 New York State Stocks 87,000 $106,000 Total Circulation $89,800 The Mechanic's Banking Association is secured byNew York State Stocks. $245,822 Total Circulation $242,981 Very little if any loss can fall to the Bill Holders by the failure of New York State Banks. In Baffalo the excitement has subsided. The Commercial of Buffalo says: There is a better feeling in money circles to-day. The banks are discounting in limited amounts for their regular customers. During the excitement in regard to money matters the past few days, operations in produce have been very much restricted from the inability and reluctance of banks to extend their nsual accommodations. Gold has recommenced to flow back from this city to New York, and is comparatively now a drug here. Yesterday several bags were returned without opening.— People having got over their fright of Saturday and Monday, the tide is now setting back. At the Manufacturers' and Traders' Bank, yesterday, for nearly two hours there was such a crowd there waiting a turn to deposit, that it was almost impossible to get through. We are informed that $80,000 were eceived in currency. The New York Courier of yesterday says: The pulse of WallStreet was a little quickened yesterday by the announcement of the failure of Beebe & Co., and J. H. Prentice & Co., the suspension of the Mechanics' Banking Association, and the arrest of its Paying Teller, Mr. Edwin Van Blarcom, for an alledged defalcation. There ensued, however, no fever of panic; before three o'clock the financial pulse become again calm, the above comprising the list of the day's misfortunes,-There were no more failures, there was not the least trouble among the other banks, nor reason to apprehend any, the bills even of the suspended bank were received as usual on deposit by the other banking institutions, and the financial day closed with no other feeling on the part of financial men, but that Wall Street and the great business world of New York still remained firm on their foundations, with a good prospect of continuing so, panic and "financial crash" makers to the contrary notwithstanding. This afternoon despatch from New York says: Wall Street and vicinity looks very cheerful this morning. The panic fever is over and Stocks generally have idvanced from 2 to 5 per cent. Illinois Central fs up 20 per cent. from yesterday and is selling 110. Money actively soughtafter and there are more buyers than'sellers, but first class paper on call is taken at 7 per cent., other ranges 9 and 12. The Tribune says: --One thing we have alrea prove by it-the security and strength of our State's admirable Free Banking Sy4tem. Under the old Special Charter system, with no securities except those in the Bank's vaults, we should have had twenty or thirty Banks down within the last week, and their notes now selling at sixty cents on the dollar. Now we have had but three or four small congive way, and of these only the one which is an old monopoly Bank will inflict any loss on the billholders.The Mechanics' Banking Association has been horribly mismanaged and is rotten to the core, but its notes are worth a hundred cents on the dollar. We have only to weed out the Mortgage feature from our Bank Securities and our system will be nearly perfect. Finally, we say urgently to the Farmers and the Country, contract your credits; Diminish your debts. This must be done. Be warned in time, (as our City operators would not be,) and avoid calamity by anticipating it. If you owe debts thatare due or soon to come due, see what you can most advantageously sell that will pay them, and close the matter up SO soon as may be. A few months ago, we advised the Farmers not to be persuaded that the New Tariffmust necessarily reducethe price
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W. A. J. BRITTAIN, Sec'y. Suspended and Broken Banks. For the information of our readers, and in order to guard them against receiving worthless money, we publish the following list of recently suspended and broken Banks, which has been carefully compiled and compared with the list of the brokers in the city. It is gratifying to note that thus far in the present financial crisis, not a single Pennsylvania Bank is included in the list It is to be hoped they will be able to ride out the storm. Mechanics' Banking Association, N. Y. Farmers' Bank of Saratoga county, N. Y. Sacketts Harbor Baok, Buffalo, Reciprocity Bank, Buffalo. Chemung County Bank, Horseheads, N. Y. Ontario Bank, Vica, N. Y. Ontario County Bank, Phelps, N. Y. Oliver Lee & Co.'s Bank, Buffalo, N. V. Hollister Bank, Buffalo. Niagara River Bank, Towanda, N. Y. Bank of Orleans, Albion, N. Y. Huguenot Bank, New Paltz, N. Y. New-York County Bank, N. Y. Farmers' Bank, Wickford, B. I. Mount Vernon Bank, Providence, R. I. Rhode Island Central Bank, East Greenwich, R. I. Bank of South County, Wakefield, R. I. Warwick Bank, Warwick, R. I. Tiverton Bank, Tiverton, R. I. Bank of Hallowell, Maine. Hancock Bank, Ellsworth, Maine. Danby Bank, Danby, Vt. Bergen County Bank, Hackensack, N. J. Bank of New Jersey, New Brunswick, N. J. Merchants Exchange Bank, Bridgeton, Ct. Wooster Bank, Wooster, Ct. Sanford Bank, Sanford, Maine. Monson River Bank, Monson, Mass. Kanawha Bank, Virginia. Miama Valley Bank, Dayton, Ohio. S Bank of West Tennessee, Memphis, Tenn. a Agricultural Bank, Brownsville, Tenn, d Bank of Commerce, Georgetown, D.C. Colchester Bank, Connecticut.
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DISCREDITED BANKS. The following is a corrected list, to date, of recen SUSPENDED and DISCREDITED Banks: Arcade Bank, Providence, R I. America Bank, Trenton. N.J., Agricultural Bank, Tenn. Agricultural Bank, Herkimer, N. Y. Bergen County Bank N.J. Bank of Canandaigua, N. Y. do Naperville, III. do Believille, de do Nashville, Tennessee. do Springfield, Ohio. do Tecumsch, Michigan. do Orleans, N.Y. do New Jersey, New Brunswick, N.J. do Kent, R.I. do Hallowell, Me. do America, Tenn. do West Ternessee, Tenn. do Paris, Tenn. do Corning. N.Y. do the South County, R. I. do North America, Connecticut. do Kanawha. V Tirginia. do Eigin, III., S. S., small circulation. do the Capitol, Indianapolis, Ind., S. S. do Middleton, Penn. do Watertown, N.Y. do Chester, III. do Eigin, do do Pike County, III. Central Bank, Indianapolis, Ind., S.S. Chemting County Bank, Horse Heads, N.Y., S. S. Clinton bank, Columbus, Ohio. City Bank, N.J. Cumberland Savings Institute, Md. Commercial Bank, Columbia, S. C. Citizens' Bank, Tenn. Corn Exchange Bank, Ill. Charter Oak Bank, Hartford, Conn. Colchester Bank, Conn. Dan Bank, Vt. Dayton Bank. Ohio. Dairy Bank, Newport, N.Y. Ellsworth Bank. Maine. Exeter Bank. N. H. Exchange Bank, Pittsburgh, Pa Exchange Bank. Hartford, Conn. Farmers' Bank of Saratoga Co., N. Y.,s.s Farmers' and Manufacturer's Bank, Poughkeepsie. Farmers' Bank, Wickford, R.I. Farmers & Mechanics' Bank, Kent county, Md. Farmers and Merchants Bank, Md. Fairfield County Bank, Nor. alk, Ct. Farmers & Mechanics' Bank, Detroit, Mich. Honesitate Bank, Pennsylvania. Hollister Bar k, Buffalo, N. Y., S. Hancock Bank, Maine. Hugenot Bank, N.Y. Hopkinton Bank, Westerly. R T. Hamilton Exchange Bank, Hamilton, N.Y. Island City Bank, N. Y. city. Jefferson County Bank. N. Y. Lee Bank, Massa husetts. Mechanics' Banking Association, N. Y., S.S. Mount Vernon Bank, Providence, R. I. Maratine Bank, Maine. Monson River Bank, Me. Macomb County Bank, Michigan. Mechanics' Banking Association, N. Y.city. Morgan Bank, Ga. Miami Valley Bank, Ohio. Medina Bank, Medina, N.Y. Munson Bank, Mass. Merchants & Manufacturers' Bank, Pittsburgh, Pa. Mercar tile Bank, Hartford, Conn. N.Y. Security Bank, N.Y. Nebraska m ney has been thrown out by St. Louis brokers, excepting the Bank of Florence. Niagara River Bank, Tonawanda, N. Y., reported failed, S.S. Ontario Bank, Utica, N.Y. Ohio Life Trust Company, don't issue notes. Oliver Lee & co. Bank, N. Y.-reported failed, S. S. Ocoee Bank, Tenn. Ontario County Bank, Phelps, N.Y. People's Bank, N. V. city. reported failed, S. S. Pawcatuck Bank, Pawcatuck, Ct. Port Plain Bank. N. Y.,s.s Recipr city Bank, Buffalo, N. Y., new bank, S. S. Rhode Island Central Bank, R.I. Sanford Bank, Me. Sackett's Harbor Bank, N.Y. South Royalton Bank, Vt. Seneca County Bank, Ohio. Southern Bank, Georgia. Stock Security Bank, Illinois. Tippecanoe Bank, Logansport, Ind. Tiverton Bank, Fall River, R.I. Union Bank, Frenchtown, N.J. Unadilla Bank, N.Y. Warwick Bank, R. I. Wonster Bank, Danbury, Conn. Warren County Bank, Penn. Yates County Bank, Penn Yan, N.Y. NOTE.-"S. 8." means securet by state stock. Most of these Banks will pay their circulation in full, and holders of their bills should not submit to a large discount on them.
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DISCREDITED BANKS. The following IS a corrected list. todate, of recen SUSPENDED and DISCREDITED Banks: Arcade Bank, Providence, H I. America Bank, Trenton. N:J., Agricultural Bank, Tenn: Agricultural bar. K; herkiner, N. Y. Bergen County Bank N.J. Bank 01 Canandaigtta, N.Y. do Napervilie, Iii. do Beleville, de Nashville, Tennessee. do do Springfield, Ohio. do Toumseh, Michigan. do Orieans, N.Y. do New Jersey, New Brunswick, N.J. do Kent, R.I. do Halloweit, Me. do America, Tenn. do West Ternessee, Tenn. do Paris, Tenn. do Corning. N.Y. do the South County, R.I. North America, Connecticut. do do Kanawha. Virginia. do Elgin, III., S. S., small circulation. do the Capitol, Indianapolis, Indes. S. do Middleton, Penn. do Watertown, N.Y. des Chester, Li. do Eigin, do do Pike County, Ill. Central Bank, Indianapolis, Ind.,,s. Chemung County Bank, Horse Heads, N.Y.,s.s. Clinton Bank, Columbus, Ohio. Cty Bank, N.J. Cum erland Savings Institute, Md. Commercial Bank, Columbia, S. C. Citizens' Bank, Tenn. Corn Exclusive Bank, III. Charter Oak Bank, Hartford, Conn. Colchester Bank, Com. Danly Bank, Vt. Davton Bank. Ohio. Dairyman's Bank, Newport, N.Y. Ellsworth Bank. Maine. Exeter Bank. N. H. Exchange Bank. Pittsburgh, Pa Exchange Bank. Hartford, Corn. Farmers' Bank of Saratoga Co., N. Y.,s.s Farmers' and Mmmufacturer's Bank, Poughkeepsie. Farmers' Bank, Wickfort, R.1. Farmers & Mechanics' Dabs ent county, Md. Farmers and Merchants' Bar Md. Eairfie County Bank, Nor alk, Ct. Farmers N Arechanics' Buk, Detroit, Mich. Honesdale Bank, Pennsylvania. Hollister Bai k, Buffalo, N. Y.,s.s. Harcock Bank, Maite. Hugenot Bank, N.Y. H pkinton Bank, Westerly. R T. Hamilton Exchange Hank, Hamilton, N.Y. Island is Bank. Yreity, Jefferson 1 anty Bar K. N.Y. Lee Bilik, Massa have ts: Mechanics' Banking Association, N. Y., Mount Verhon Bank, Providence, R. I. Maratine Bar K, Maine. Monson River Bank. Mark Madomb County Bank, Mehigane Mechanics' Banking Association; N. Treity, Morizan Bank, Ga. Miami Valley Bar K, Ohio. Medina Bank, Medina, N.Y. Munson Bank. Mass. M rehants & Manufacturers' Bank, Pittsburgh, Pa. Mercantile Bank. Hardford, Coub. N.Y. Security Bank, N. Y. Nebraska money has been thrown out by St. Louis brokers, excepting the Banks Florence: Niagara River Bank, Tonawanday N.Y., reported failed, S.S. Ontario Bank, Utica, N.Y. Ohio Life Trust Company, lon'tissue rotés: Oliver Lee & co. Bank, N. reported failed, S. S. Ocnee Bank: Tenn. Outario County Bank, Phelps, People's Bank, N.Y city. reported failed, S: S. Paweatuck Bank, Paweatuck. Ct. Port Plain Bank, N. Y..s.s Reciprecity Bank, Buffak, N. YL. frew bank, S. Rhode Island Central Bank, R:1: Sanford Bar K/Me. Sackett's Harber Banks N. South Royalton Bank, It. Seneer County Bank, Ohio. Southern Bank, Georgia. Stock Security Bank, Illinois. Tippecanoe Bank, Logansport, Ind. Tiverton Bank, Fall River, R.I. Union Bank, Frenchtown, N.J. Unadilla Bank, N.Y. Warwick Bank, R. I. Wonster Bank, Danbury, Conn. Warren County Bank, Penn. Yates County Bank, Penn Yan, N.Y. NOTE.-"S. S." means securet by state stock. Most of these Banks will pay their circulation in full, and holders of their bills should not submit to a large discount on them.
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The Money Crisis-Affairs brightening Up. Money matters have witnessed a material improvement since our last issue. Very much of the paper which ten days ago was pronounced worthless on account of the sus pension of the institutions issuing the same, is again current, and is circulating 4 medium of business. The demand for specie has materially decreased. When sold and silver had 80 risen as to command ten and in some instances twenty per cel.t. the people who hold the notes, deliberately to concluded they would do without it. The sus pension of the banks not only FII pended specie payment, but it suspended the collection of notes and bills falling can, and while it lessened the current funds and incredit the rate of exchange and 11 premium on gold and silver, it lessened the demand for money -put off the days of payment. These evils are working their own cure. Two or three days ago, the news came that all the New York City Banks and most of the country banks had suspended. Eve. rybody was startled. Hard'y anything in the shape of Bank paper from that State was current. Now the bills of all the banks in the State are current with the exception of the following: Niagara River Bank, Tonawanda. Agricultural Bank, Herkimer county. Dairyman's Bank, Newport. Hollister Bank, Buffalo. Ontario Bank, Utica. O. Lee & Co.'s Bank, Buffalo. Bank of Orleans, Albion. Reciprocity Bank, Buffalo. Yates County Bank, Penn Yan. Tompkins county Bank, Ithica. Huguenot Bank, New Paltz. Medina Bank, Medina. Troy City Bank, Troy. Central Bank of New York, of Utics. Hamilton Exchange Bank, Greene. The Cleveland Board of Trade have met and resolved that in their judgment the State Bank of Chio and Independent Banks are all solvent, and deserving of confidence and that they will receive their bills at par in all business transactions. The private bankers have also taken similar ground. The Cincinnations have resolved to re. ceive all the notes of New Orleans and all other Banks that are bankable at Boston, Philadelphia, Pittsburgh and Baltimore. The prospect is brighter. When the present storm has gone by and the reign of money terror is over it would be well for the people to make some inquiries into the securities which they have for the p-per promises with which the country is flooded. In days of prosperity let us m.ke ourselves secure, that when the storm comes, we may be prepared for it.
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We comply with the request of our "subscriber" so far as we have the data on hand. We may not have included all the failures, though we think the list is nearly complete. A few of those given failed previously to the suspension of the Ohio Life and Trust Company. The list embraces both suspended and discredited banks. It would be well for subscribers generally to cut out and preserve the list for daily reference : The following is a corrected list, to date, of recent suspended and discredited banks: Nebraska money has been thrown out by our brokers, exceping the Bank of Florence. Bank of the Capitol, Indianapolis, Ind., S.S. Central Bank, Indianopolis. Ind. S. S. Bank of Elgin, III., S, S., small circulation. Mechanics' Banking Association, N.Y., S. S. Ohio Life Trust Co., don't issue notes, Bank of Kanawha, Va. Reciprocity Bank Buffalo, N. Y., new Bank, S. S. Hollister Bank, Buffalo N. Y., S.S. Warren County Bank, Penn. Arcade Bank, Providence, R. I. Bank of Middletown, Penn. Honesdale Bank, Penn, Bank of North America, Conn. Ontario Bank Utica, N.Y. Port Plain Bank, S. S. Farmers' Bank of Saratoga Co., N. Y., S.S. Farmers' and Manufacturers' Bank Poughkeepsie; N. Y. Farmers' Bank, Wickford, R. I. Mt. Vernon Bank, Providence, R. I. Liverton Bank, Fall River, R. I. Wooster Bank, Danbury, Conn. Bergen County Bank, N. J. Ellsworth Bank Maine. Bank of South County, R. I. Sackett's Harbor Bank, N. Y. This Bank which was an old-I'ner was lately merged into the Recipriocity Bank at Buffalo, but few of the notes of either are in circulation in the west. Exeter Bank, N. H. South Royaltion Bank' Vt. Chemung County Bank, Horse Heads, N. Y., S. S. Seneca County bank, Ohio. Oliver Lee & Co., Bank, N. Y.-reported failed, S. S. People's Bank, N. Y. reported failed. Niagara River Bank, Tonawanda, N. Y., reported failed, S.S. Hammock Bank, Maine. Maratime Bank, Maine. America Bank, Trenton, N. J. Bank of New Jersey, New Brunswick, N.J. Huguenot of Bank, New Paltz, N. Y., S. S. Bank of South County, Wakefield, R. I. Rock River Bank, Belott, Wis.. S. S. Farmers' Bank Hudson, Wis., S. S. Bank of Colchester, Conn. Niagara Co., Bank, Lockport, N. Y. NOTE.-"S. S." means secured by state stocks. Our subscribers ought to lose nothing by the suspension of these The others have but little circulation in the west. Several, it will be noticed, are secured by stocks. Our subscribers are cautioned against sacrificing notes of this class, as some of them will probably be reinstated; while those finally compelled to wind up, in the ordinary course of things, will pay a large proportion of their debts. The issue of discredited banks, without stock security are york uncertain
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CLIPPINGS AND SCRIBBLINGS. Afloat-the steam ship Leviathan. Busy doing nothing-our Legislature. Ale-in-some of the b'hoys on Monday eve-ning. Circulating-new counterfeit tens on the Gettysburg Bank Sold-fresh shad, in Washington last week, at $1 25 a pair. Abroad-the schoolmaster who was tight on Monday night. Must keep late hours-the one that sleeps during day time. Have triumphed-the revolutionists in Mexico, as per late advices. Busy--the bogus money men, in several of the neighboring counties. Ditto-the officers of the law, in making arrests and jugging the gentry. Selling-Pennsylvania Bank Stock, at $3 a share. One year ago it brought $120. Sold-Pennsylvania Railroad stock, in Philadelphia last week, at $44½ per share. Married-week before last, Ex-President Fillmore, to Mrs McIntosh, of Albany. Ed-ifying to see a chap feeling for a door in the corner of a room, after a little ale-ing. A "fast" man-John Brown, of Reading. He recently made 120 horse-shoes in one day. "An even exchange is no robbery," as the widow said when she swapped herself off for a widower. Question. What would have become of the venders of shilling calico, if women had never been invented? Found out-the meaning of the mysterious letters O. K., by some of the ladies. They say it is-Only Kissing. Introduced-a bill into the Louisiana Senate, authorizing the importation of 5,000 negroes from the coast of Africa. Has procured-J. P. Brown, of Ross county, Ohio, ten Cashmere goats from Constantinople. The fleeces are pure whito. Believed in diplomatic circles in Washington, that a war between the United States and Mexico is an event not very far off. Stated-that the Erie City Bank will resume specie payments in a few weeks. It has been discredited by the New York brokers. Must be presented-the notes of the America Bank, Trenton, N. J., to the receiver within 2 years from the 1st December, 1857. Has passed-the Massachusetts Legislature during a four week's session, two bills, of which one is to increase the pay of its members! Gives notice-the receiver of the Colchester Bank, Connecticut, that its bills must be presented before the first of March. Rather short notice. Disinterred-the bodies of Fife and Charlotte Jones, by order of Mrs. Wolf. Charlotte's sister, who has had them taken to Washington county and buried. Boasts-a Texas militia officer, that his men "would rally at the tap of the drum." Perhaps they would rally still more promptly at the tapping of a keg. Wealthy-the late Rev. Charles Avery, of Pittsburg. The estate is valued at $700,000; the great bulk of which is bequeathed to charitable and religious institutions. Still coming-hoops. At Senator Douglas's great ball, some of the gentlemen had little steel hoops in the bottom of their "pantaioon sleeves," to give a neat set over the boot. Reported a bill-Mr Jackman of the lower House of our State Legislature, providing for the sale of the balance of the canals owned by the State. Jackman is a democrat. Died-a little girl named Kate Lamont, in Manchester. She was sliding on the ice near her fathers house, fell, and hurt her foot so severely that lock-jaw ensued, terminating fatally. Made their appearance-bills on the Saline Bank. N. Y. There is no such institution in the State They are altered from an old "Wild-Cat" Michigan plate, by inserting the words "State of New York." Writes-a Washington correspondent, that from what he knows of Keitt the South Carolina sprig of chivalry, he deems it entirely probable that he was "too drunk to know whether he was struck or not." Sent-a requisition, by Gov. Packer to the Governor of Ohio, for the delivery up of Frederick W Porter, the late Secretary of the American Sunday School Union, who is a defaulter to the tune of $50,000. Sharp-the chap, who suggests that there is reason to believe that one of the descendents of Aaron, the Iligh Priest, was a native of Ohio. See Ezra VII, 4, which reads, "The son of Zerahiah, the son of Uzzi. the son of (a) Bukki." A funny fellow-the editor of the Erie Citizen. He says: "We will have six weeks sleighing in March." Now, either the editor must be mistaken, or the Almanac man has miscalculated for these "diggins," for he only allows us about four weeks in March. The "Central Bank of Pennsylvania," is not an "institution" yet, and not likely to be under the Buffalo auspices. The Commissioners, it is understood, have shut down upon that project, and are now asking the Legislature to reduce the capital stock to $150,000, with a view to start a safe and sound establishment on Blair county capital alone, and in the hands of Blair county men. Winding up the following N. York Banks. and going into final liquidation: Agricultural Bank, Herkimer; Bank of Central New York, Utica; Bank of Hornellsville; Bank of Orleans, Albion; Chemung Co Bank, Horse Heads; Hamilton Exchange Bank, Greene; Hollister Bank, Reciprocity Bank, Sackets Harbor Bank, Oliver Lee & Co's Bank, and Pratt Bank, Buffalo; Yates Co. Bank, Pen Yan; Ontario Bank, Utica. A North Carolina paper, commenting on the vote on Harris' resolution, asks: "Will anybody hereafter have the effrontery to tell Southern men that they must look to Northern Democrats for aid and comfort?" No, we think not, for the Democrats of the north have awakened to their true interests, and therefore cannot extend aid and comfort to the south; but there is a class of northern dough-faces that will comfort you, providing you have a few little loaves and fishes to spare. The Raleigh Register, speaking of the vote on Harris' resolution, and the effect it has on the Democratic party says: "The Democratic party, long distracted, has now as a national organization fallen utterly to pieces. It is as dead as last year's pickled herrings. While it lived it cursed the country, and now that it is dead, the country curses it" Well, neighbor, turn about is fair play and if the country has the advantage, let her get it, for her sufferings have been great from that motley crew of leeches. A few days ago, at the large furnace called "Union Deposit Furnace," situated in South Hanover township, Dauphin county, Pa., a terrible accident occured. It appears that while several persons were about the furnace, the hot metal came running out in torrents, so unexpectedly that the five persons were literally showered over with the liquid fire, immediately setting their clothing on fire and burning them in a dreadful and shocking manner. Some of the unfortunate men jumped into the canal, and others into the water tub.