a6703281Full suspension, Books examined
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TELEGRAPHIC. Expressly for the Daily Evening Star From New York. NEW YORK, Dec. 6.-The steamer Seneca burst her boiler on the Hudson last night. The bills on the Brunswick, Maine, Bank are discredited here There is a considerable run on the Central Bank, which, it is thought, will break.
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NEW YORK, Dec. 6.-The bills of the Brunswick Bank of Maine are discredited by the brokers here to-day. There has been a considerable run on the Central Bank.
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publication. The News. The steamship Pacific is now in her fourteenth day out from Liverpool. From her non-arrival it is surmised, in som quarters, that the day of her departure was changed; but the probability is that she has encountered severe storms, such as have lately prevailed in this latitude, which have retarded her progress sufficiently to delay her arrival for a day or two. Our special despatch from Washington contains some interesting developements respecting the objects of the Conference of Ministers at Ostend. Read 20, by all means. In the Senate yesterday but little of general interest transpired. Mr. Jones gave notice of a bill allowing railroad companies three years credit for duties levied on imported railroad iron. Session after session this subject has been urged upon the attention of Congress, but 80 ar unsuccessfully. Pertinacity, however, may eventually accomplish the object. General Shields' Illinois River and Harbor Improvement bills were appropriately referred. The bill reorganizing he judiciary stem was made the special order for January 2. Mr. Seward's joint resolution providing for the election of chaplains, gave rise to a sharp debate, during which Mr. Slicer, the present chaplain of the Senate, was warmly defended against the denunciaMons of the abolitionists. The resoluti was finalBy smended so as 10 provide for the election of a chaplain of the Senate. This being agreed to, Mr. Slicer was chosen by twenty four votes to sixteen. The Senate then held an executive session and adjourned. In the House yesterday Mr. Peckham moved to reconsider the vote of the day previous, whereby the President's message was referred to the standing committees, with the view of reopening the debate on politi- al restters which bad been 80 promptly and judiciously closed. The motion was laid on the table. The Senate bill providing for the better pre servation of life and property from shipwreck on the coasts of Jersey and Long Islar was takenup, and after some unimportant remarks from several members, passed by the very decisive vote of one bundred and twentys to forty five. Considering the immense destruction of homan life recently 02 these coast., it. is surprising that even forty five members could be found to vote against the bill. In Committee of the Whole, the Invalid Pen sion bill being in order, Mr. Welbridge delivered a spee b OD **epropriety and necessity of the immedi ate repeal of the duty OR foreign coal. We publish the speech in its proper place. It speaks for itself and it speaks well. After some remarks from several of the Pennsylvania members relative to the causes of the prevailing high prices of coal, the committee rose and the Invalid Pension bill wapassed. A memorial of the American Philosophical Society in aid of the proposed relief to the Каче Arctic expedition was presented, and the House ad journe d Late and interesting Lews from Mexico is given under the telegraphic head. On the 24th ult., a batthe was fought at Morelia, in Michoacan, between the government troops and the rebels, in which the latter were routed with great loss. It is believed, however, that, notwithstanding this reverse, the revoletionists a e gaining ground. The election Was progressing, and Mexico and Vera Cruz bad decided in favor of Sar Anna with great unanimity. A number of Boulbon's followers have been released. Another banking concern-the Central Bank, of this city, was yesterday "counted out" at the Clearing House. Thus they go down, one after the other, like the card bouses of children. For *unately for a portion of the public, by a wise provision of lav, the bill holders are secured against more than a trifling loss. By reference to our city patelligence it will be seen that the panic in mone tery aff-irs is widening and deepening, and that mechanics, laborers and chambermaids have commeaced withdrawing from the savings banks the sums put by for a rainy day. It is believed, how. ever, t at the principal savings institut! ons are sound, and that there is no od reason for the alightees apprebension as to their integrity. By referring to our police reports in another column, our readers will be surprised at the alarmleg in rease of crime in the metropolis. It will be seen that assessins, burglars and thieves are not at all deterred or intimidated by the severe penalties that follow the commission of crime. Tae boldness and recklessness with which some of the most recent crimes have been perpetrated shows a great want of activity among the police force of the city, and call for some speedy action on the part of the authorities to check the fearful state of matters at present existing in our midet. We published lately the Canadian act restricting the sale of intoxicating liquors, and expressed our opinion that, owing to the stringency of the bill, it would not meet the approbation of the inhabitants of that Siberian climate, and would probably be vetood by the Governor. We omitted to state that the bill has not yet passed the Council, or second branch of the Legislature, where, according to the Kingston Whig, no fanaticism prevails." The chances are that a prohibitory law of some description will be passed, during the present or the next session of the 'Provincial Parliament, but its provisions will be more rational than the one in question. Flour was in fair demand yesterday, at steady prices, and closed firm. White Michigan wheat sold at $2 20. Indian corn advanced to 95c., at which, 6,500 bushels were sold, afloat, for distilling. This vise checked sales, and prevented engagements for export. Pork was lower. Sales of mees were made at $13 12, and at the close it was freely offered at $13, without buyers. Lard sold freely for export at 10c. a 10₺c. There was a good shipping demand for lbeef, bacon, and pork. Cotton was more active, and % e sales reached 1,500 bales, mostly for export. The muket closed with a firmer realing, at about 8jc cor middling unlands Sin. the Serida 8ác. for Me.
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ENTRAL BANK, DECEMBER 13, 1854.-AT A SPEC cial meeting of the directors held this day, it was Resolved, That in consequence of the action of the Clearing House Committee, in suspending the bank from further exchanges through that institution, the bank will be closed until Monday next, the 18th instant, at which time the public will be informed of the final decision, either to continue business or to go into liquidation. JOS. R. TAYLOR, President. WALTER OAKLEY, Cashier.
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receipts paid, $1,116,644, including transfer of $1,000,600 to the Bullion fund; balance, $5,658,618. The payments from the Assay Office, for deposits per North Star, were $477,500. There was an active call for deposits yesterday on the Bank for Savings in Chambers-st., occasioned, it is said, by a foolish report that the Bank had stopped. Who started such & report, or what could have given rise to it, we cannot surmise, unless it be the failure of some new and weak banking institutions; but this, we would say for the information of the depositors of the Chambers-st. Savings Bank, that the condition of the Bank is not only sound, but that its assets and securities are of the highest character-consisting, in part, of $1,000,000 United States Stock, which could at once be cashed at a premium of 16 to 17 P cent.; of over $500,000 in New-York State Stock, and $1,500,000 in City Stocks, and the balance in other State Stocks of the highest character, and bonds and mortgages on the choicest property in this City. A moment's consideration will satisfy the most timid that their money cannot be safer than it is in the Chambers-st. Bank for Savings. In consequence of the action of the Clearing-House Committee yesterday, the Central Bank was closed to-day, and a Directors' meeting was held, at which the following resolution was adopted: Resolved, That in consequence of the action of the ClearingHouse Committee, in suspending the Bank from further exchanges through that institution, the Bank will be closed until Monday next. the 18th inst at which time the public will be informed of the final decision-either to continue business or go into liquidation. A careful investigation of the affairs of the Central Bank was made by the Committee before any action was taken for their suspension from the Clearing. House. The entire Committee, composed of ten offieers of other Banks, were of opinion that the Bank could not go on. The assets of the Central Bank are said to be generally of a very doubtful character, and the prospect of the stockholders unfavorable. By the last statement of the Bank the Capital and Deposits were in the aggregate $486,000, while the Bills Receivable and Specie were only $323,500. Here is 8 considerable deficiency, a portion of which is probably in the new building, and & portion in surplus securities at Albany. The suspension seems to have created no surprise in the street. The following sales of Stocks and Bonds were made at auction, by A. H. Muller : 1014 $5,000 New-York Canal Sixes. 1830, Int. added $5,000 New-York City Water Fives, 1860, Int. added 901 703 50 shares Harlem Railroad preferred stock Albert H. Nicolay's regular semi-weekly auction sale of Stocks and Bonds, will take place to-morrow, (Thursday,) at 12, o'clock at the Merchants' Exchange. The securities of the Panama Road are improving. They have been depressed by the postponement of the opening of the Road, and the understanding that more money would be needed to complete this great work. We hear that the Company have received assurances from abroad that the additional money needed, $800,000, will be furnished by foreign capitalists. The Hudson River Railroad Company announce, officially, that they have negotiated $810,000 of their bonds, and that no more will be issued at present. Cotton shows a decline of & to fc. during the week. Mr. Wright's Circular gives the annexed statistics of the Cotton movement: CROPS, RECEIPTS, &c -The weather at the South continues unusually dry; for two-and-a-half months very little rain has fallen. This interferes materially with the free receipt of Cotton at the various shipping ports-but on the other hand, it enables the planters to secure, in good condition, the Cotton remaining in the fields. The autumn in the South has been one of the most remarkable on record, and its effect upon the quanbe mistak The
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ENTRAL BANK.-At a special meeting of C the Directors, held this day, it was Resolved, That in consequence of the action of the Clearing House Committee in suspending the Bank from further ex. changes through that institution, the Bank will be CLOSED until MONDAY next, the 18th inst., at which time the public will be informed of the final decision-either to continue business or to go into liquidation -Dec. 13, 1854. JOSEPH R. TAYLOR, President. WALTER OAKLEY, Cashier.
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At the second board there was a better feeling in the market, and an advance was realized in nearly call the leading fancies. Erie Railroad went up 1 per cent; New York Central Railroad, 1; Reading Railroad, 4; Canton Company, 4. New York Central Bonds fell off 1/27 per cent, and Nicaragua Transit closed firm at our quotations. At the close the tendency was upward. The receipts at the office of the Assistant Treasu. rer of this port to day, amounted to $116,041; payments, $122,402 27-balance, $5,652,257 60. Paid Assay Office, $221,303 37. The steamship Prometheus, at New Orleans from San Juan, Nicaragua, brings California dates to the :24th of November, one week later than those pre viously recieved. The steamship Northern Light lef San Juan on the 8th inst. for New York, with about OLE million of dollars in gold and gold dust. She will be due here to morrow. The Hudson River Railroad Company have given official notice that $810,000 of its recent issue of mort gage bords have been disposed of, and that no fur ther sales of them will be made at present. A meeting of the directors of the Central Bank was held yesterday, and the following resolution was :adopted :Resolved, That in consequence of the action of the -Clearing House Committee, in suspending the bank from further exchanges through that institution, the bank will be closed until Monday next, the 18th in°t., at which time the public will be informed of the final decision— either to continue business or go into liquidation. Copper stocks were firmer in Boston yesterday. Toltec advanced to 31; Copper Falls was in demand at 25 bid 26 asked; Isle Royle, 10½ bid for 10 shares, 11 asked for any part of 50 shares; Northwestern, 15 bid 20 asked; Minnesota, 160 asked; Pittsburg, 120 asked. The Roston and Providence Railroad Company will pass its next dividend. The stockholders think they ought to have it in bonds or stock, if it has been earned. The probability is that it has not been earned, and they will have to go without it. Railroads have turned out bad this year. We have hitherto regarded the attempts of railroad corporations by means of conventions and combinations to advance the rate of freights and faies with most unqualified disapprobation but when in their discussions at these meetings the "question is how to reduce the cost of running their roads-how to economize in the use of fuel-then there are ivantages to be achieved which we are dis. posed to encourage. The enormous cost of wood as a fuel for locomotives was one of the subjects before the convention on Tuesday night, and we notice the letter of Joel White, Esq., President of the Norwich and Worcester Railroad, giving very clearly the result of an experiment made under his own direction with Cumberland coal, and showing a large saving over wood-and wood at four dollars per cord. When it is remembered that the cost of wood in the sheds on our roads is eight dollars per cord, the saving would be double what is given in Mr. White's statement. But to show the lament able indisposition of railroad managers and employ era to adopt any plan to which they are unaccustomed, we will state that the Baltimore and Ohio Railroad and the Baltimore and Sasquehanna have used the Cumberland coal for years, and we hav the authority of Mr. Latrobe, the eminent chief engineer of the former work, for saying that one ton of Cumberland coal is equal to two and 'a half cords of best pine wood. With these facts staring as in the face, it is a wonder New England railroads have so long resisted its introduction. The public is interested in the economical administration of railroads, for the cheaper they are managed the better the public is served. . The Cleveland, Painerville and Ashtabula Railroad Company have declared a semi-annual dividend of five per cent; the Boston and Maine Railroad Company four per cent. The earnings of the Baltimore and Ohio Railroad Company for the month of November, 1854, were as annexed:BALIMORE AND Onio BAILBOAR
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BANK FAILURES.-The telegraph brings us notice of the failure of two New York City Banks-the Empire City and the Central.The Empire City Bank building took fire on the night of its suspension, very suspiciously. The circulation of the Empire City Bank was $102,967; the deposits, $245,660; the loans and discounts, $444,421. The circulation of the Central Bank was $94,657; the deposits, $214,732; the loans and discounts, $333,879.
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# Matters and Things in New York. NEW YORK, Dec. 156, 1854. Alter a side of two hundred miles through uninterrupted snow banks, one is rather surprised to find himself promenading dry flags and cobble stones in New York. The city is innocent of snow. Yet the weather we have here is dispiriting enough, raining, foggy, true London weather. The sun has forsaken us, for the seat of war, or some other center of interest. Coming from cheerful firesides of Yankeedom, where nuts are cracked and apples eaten, one is struck by the careworn and anxious expression which sits on all the "old familiar faces," from the Wall street banker to the Fulton Ferry apple woman. The countenances of business men are "signs of the times," betokening bankruptcy, famine, and all such direful visions. Therefore, the city is doleful, though fashion spreads her peacock tail no less superbly than of old. Among the poor there is and will be, through the winter, a great deal of suffering. It is difficult to obtain employment and many are thrown out of occupation by the reverses of employees. The benevolent societies of this and the adjoining cities are lahoring faithfully to improve the condition of the various classes of the poor whom they have taken in charge. The Female Employment Society of Brooklyn, is affording the means of support to many indigent seamstresses, by enabling them to dispose of their work at remunerative prices. One would think from the dolorous outcry that we were all in danger of starvation. Everybody is frightened. But while fishes swim the water and cattle walk the land, the great maw of the Metropolis shall be filled In connection with this melancholic train of observations, we may appropriately speak of the recent failure of the Central Bank of this city. This bank was broken by an arbitrary action of the "Clearing House," which institution, in fact possesses the power of breaking almost any bank in the city, if it chooses to try. The Clearing House operates in this way. Each city bank receives daily from its depositors, checks upon and notes of the different banks. A messenger from ench bank meets at 10 A. M.. at the Clearing House, the next day, and exchanges checks and notes at 12 M.: the banke-meet again, and pay the balances against them. If this balance is not paid by 2 P. M., it is reclaimed, and the bank suspended from the privileges of the institution. The Central Bauk did not conform to this rule, and was suspended accordingly. The suspension was followed by a rush of note-holders and depositors, which would be fatal to almest any bank in the city. The balances however, were paid at 3 P. M., but on Wednesday the bank was closed, and the directors intimate a possibility of its re-opening on Monday. This bank, as well as the Empire City, will probably be obliged to wind up its aff is. Its circulation is well secured, but the depositors may lose something. Enough of bankruptcy and starvation. The topic of absorbing interest is the wa the extensive details of which, furnished by English papers, bring the battlefield almost before our eyes. The pr spect of a rupture between the allied and German powers, and consequently, of new revolutionary outbreaks in Europe, produces considerable excitement among the exiled patriots in this city, and they are probably holding themselves in readiness for any opportunity. There are republican secret societies of French, Germans, Poles, Hungarians, and Italians, and no done knows what combustibles and explosives may be piled up waiting for the match. Singular adver isements appear now and then in the dailies, which read like the ravings of an idiot. They are shil to be cipher communications intelligible only to the refugers. What episodes of romantis histories might be written out from some of the advertisements in our vehicles of commercial intelligence as they hkle wedged in between notifications of sorp, hats, tiddlesticks, and all the humbugs of Vanity Fair-Lost friends, found fortunes, disconnected words which have a deep meaning for s two eyes cut of fifty thousand that read them! a wonderful thing, indeed, is a nowspaper, The murderer, Tucker, formerly editor of the Brooklyn Advertiser, is now on l.is trial. Probably he will escape on plea of insanity. He was, no doubt, mad with drink when he murdered his helpless family, but it is doubtful whether constitutional fasani y can be proved. Iluman life is one of the few commodities that
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Another bank has collapsed in New York. The Herald of Wednesday thus writes its obituary: The clearing House closed up another bank today. The Central Bank failed to make good its account this morning, and was therefore suspended. Bill-holders need be under no apprehension regarding their value. The returns of this bank for the week ending the 9th inst. were as follows: Loans, $301,172; deposits, $186,249; circulation, $83,733; specie, $22,405.
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I Correspondence of the Ashland Union.] FROM NEW YORK. NEW YORK, Dec. 25, 1854. The Weather and a Few Dolorous Remarks. Failure of the Central Bank. -Mysterious Movements.-Murdcr and Insanity. Dedication, &-c., &c, After a ride of two hundred miles through uninterrupted snow-banks, one is rather surprised to find himself promenading dry flags and cobble-stones in New York. The city is innocent of snow. Yet the weather we-have here is dispiriting enough, rainy, foggy, true London weather. The sun has forsaken for the seat of war, or some other centre of interest. Coming from cheer ful firesides of Yankeedom, where nuts are cracked, and apples eaten, one is struck by the careworn, anxious expreswhich sits on all the " old familiar faces," from the Wall banker to the Fulton Ferry apple-woman. The countenances of business men are "signs of the times," betokening bankruptcy famine, and all such direful visions. Therefore city is doleful though Fashion spreads her peacock tail no less superbly than of old. Among the poor there is, and will be, through the winter, a great leal of suffering. It is difficult to obain employment, and many are thrown of occupation by the reverses of emloyers. The benevolent societies of and the adjoining cities are laboring aithfully to improve the condition of the arious classes of poor whom they have aken in charge. The Female employSociety of Brooklyn, is affording he means of support to many indigent eamstresses, by enabling them to disof their work at remuneration rices. One would think from the lolorous outcry, that we were all in langer of starvation. Everybody is rightened, But while fishes swim the vater and cattle walk the land, the great of the metropolis shall be filled. In connection with this melancholic rain of observations, we may appropritely speak of the recent failure of the Central Bank of this city. This Bank broken by an arbitrary action of the Clearing House," which Institution, in possesses the power of breaking lmost any bank in the city, if it choose try. The Cleraing House operates in his way. Each city Bank receives daily its depositors, checks upon and notes the different banks. A messenger each bank meets at 10 A. M., at he Clearing House, the next day, and exchange checks and notes at 12 M., banks meet again, and balances gainst them. If this balance is not aid by two P. M., it is reclaimed and bank suspended from the privileges the Institution. The Central Bank did not conform to their rule, and was suspended accordingly. The suspension followed by a rush of note-holders and depositors, which would be fatal to almost any Bank in the city. The balances however, were paid at 3 P. M. On Wednesday, the bank was closed, but the directors intimate a possibility its reopening on Monday. This Bank, as well as the Empire City, will probably be obliged to wind up its affairs. Its circulation is well secured-but the depositors may lose something. Enough of " bankruptcy and starvation." The topic of absorbing interest the War, the extensive detail of which, furnished by English papers, the battle field almost before our eyes. The prospect of a rupture between the Allied and German Powers, and consequently, of new revolutionary outbursts in Europe, produces considerable excitement among the exiled patriots in this city, and they are probably holdthemselves in readiness for any opportunity. There are republican secret societies of French, Germans, Poles, Hungarians and Italians, no one knows what combustibles and explosives may be piled up, waiting for the match. Singular advertisement appear now and then in the dailies, which read like the ravings of an idiot. They are said to be cipher-communications, intelligible only to the refugees. What episodes of romantic histories might be written out from some of the advertisements in our vehicles of commercial intelligence, as they lire wedged in between notifications of soap, hats, fiddlesticks, and all the humbug of Vanity Fair. Lost friends, found fortunes, disconnected words which have a deep meaning for
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meet again and pay the balances against them. If this balance is not paid by half past two, it is reclaimed and the bank suspended from the privileges of the institution. The Central Bank did not conform to this rule, and was suspended accordingly. The suspension was followed by a rush of note-holders and deposi-tors, which would be fatal to almost any Bank in the city. The balances however, were paid at 3, P. M., but on Wednesday, the bank was closed, but the directors intimate a possibility of its resuming on Monday. This Bank, as well as the Empire City, will probably be obliged to wind up its affairs. Its circulation is well secured, but the depositors must lose something. Enough of "bankruptcy and starvation."- The topic of absorbing interest is the war, the extensive detail of which, furnished by English papers, bring the battle-field almost before our eyes. The prospect of a rupture between the Allied and German powers, and consequently of new revolutionary outbursts in Europe, produces considerable excitement among the exiled patriots in this city, and they are probably holding themselves in readiness for any opportunity. There are republican secret societies of French, Germans, Poles, Hungarians and Italians, and no one knows what combustibles and explosives may be piled up, waiting for the match. Singular advertisements appear now and then in the dailies, which read like the ravings of an idiot. They are said to be cipher-communications intelligible only to the refugees. What episodes of romantic histories might be written out from some of the advertisements in our vehicles of commercial intelligence, as they have wedged in between notifications of soap, hats, fiddlesticks, and all the humbug of Vanity Fair. Lost friends, found fortunes, disconnected words which have a deep meaning for two eyes out of fifty thousand that read them! A wonderful thing, indeed, is a newspaper. The murderer, Tasker, formerly editor of the Brooklyn Advertiser, is now on trial. Probably he will escape cu plea of insanity. He was, no doubt, mad with drink when he murdered his helpless family, but it is doubtful whether constitutional insanity can be proved. Human life is one of the few commodities that seem to cheapen daily. Men are hewn down daily in our streets like cattle, by the axe or the deadly dirk stealing silently to their hearts, and we are growing hardened and insensible to slaughter and death. Those terrible details of the Alma have not tended to make us less so. And Oh! that bread should be so dear, and flesh and blood so cheap! A new church was lately dedicated in Brooklyn, for the use of the Centre Presbyterian church, Rev. J. E. Rockwell's. It is a fine, commodious edifice. - The butchers have altered market day, to Wednesday, in order to prevent breaking the Sabbath by preparations for Monday as before. A few stick to the old day. --Councilman Wild, famous as an amateur ducilist, lost yesterday about $1,500 by a fire in his confectionery shop, which his chivalry has helped to advertise. The sun is coming out gradually. Beehan, the murderer is to be executed to-day. A speech of Kossuth is published in the papers on the present crisis of Europe.