16646. Union Banking Company (Philadelphia, PA)

Bank Information

Episode Type
Run β†’ Suspension β†’ Reopening
Bank Type
state
Start Date
September 19, 1873
Location
Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model
gpt-5-mini
Short Digest
dacab29e8d3951ae

Response Measures

None

Description

Contemporary newspaper dispatches report a heavy run on the Union Banking Company on Sept. 19–20, 1873, followed by a short suspension (placard on door, did not open Sept. 20). The bank later negotiated with creditors and resumed business Nov. 28, 1873 with increased capital. Cause of the run is the wider 1873 financial crisis (Jay Cooke collapse/money panic). OCR issues corrected (e.g., Union Bauking -> Union Banking).

Events (3)
1. September 19, 1873 Run
Cause
Macro News
Cause Details
Run occurred during the nationwide 1873 financial panic following the collapse/ distress of Jay Cooke & Co. and related failures; depositors withdrew heavily.
Measures
Bank officers paid checks throughout the day to meet demands; attempted to demonstrate solvency by continuing payments until closing.
Newspaper Excerpt
The Union Banking Company was run upon up to the hour of closing, three o'clock, at which hour about $500,000 had been paid out.
Source
newspapers
2. September 20, 1873 Suspension
Cause
Macro News
Cause Details
Suspension explicitly attributed to heavy demands/withdrawals during the broader financial crisis; contemporaneous reports label it a State institution and suspension affecting depositors only.
Newspaper Excerpt
The Union Banking Company at Fourth and Chestnut, did not open to-day, but placed a placard on the door which stated that, owing to heavy demands, a suspension of a few days had been resolved on.
Source
newspapers
3. November 28, 1873 Reopening
Newspaper Excerpt
The Union Banking company, which suspended during the panic, resumed business to-day with capital increased to $700,000.
Source
newspapers

Newspaper Articles (23)
1. September 20, 1873 The New York Herald New York, NY
Article from The New York Herald, September 20, 1873

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THE RUN ON PHILADELPHIA BANKS. PHILADELPHIA, Sept. 19, 1873. The Fidelity Trust Company did not close at three P. M., but continued to meet all demands, receiving checks as late as five o'clock, at which hour over $900,000 had been paid out. Mr. Browne, President, said he would keep open until midnight if it were necessary, to show depositors that that institution was in a sound condition and able to meet all claims. The Union Bauking Company was run upon up to the hour of closing, three o'clock, at which hour about $500,000 had been paid out. There was a run on the First National Bank, but it did not amount to much. TOUCHING BOTTOM. To-night there is a feeling prevailing that the worst has passed and that to-morrow will witness a decided change for the better. PUBLIC FUNDS SAFE. It is authoritatively stated that neither the State nor the city funds are disturbed, the State and city treasurers having no connection whatever with Jay Cooke & Co. nor any of the endangered houses. CALLING ON PRESIDENT GRANT. President Grant is in town to-night and was waited upon by prominent and influential gentlemen, who, it is said, urge the government to do something to strengthen the money market.

2. September 20, 1873 Wilmington Daily Commercial Wilmington, DE
Article from Wilmington Daily Commercial, September 20, 1873

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SECOND EDITION. THE FINANCIAL TROUBLES. Situation in Philadelphia. QUIET AGAIN RESTORED. More Suspensions in New York. PHILADEDPHIA, Sept. 20. Third street is comparatively quiet, this morn ing. The run on the Fidelity Trust Co. has almost entirely subsided. The Union Banking Company at Fourth and Chestnut, did not open, to-day, but placed a placard on the door which stated that, owing to heavy demands, a suspension of a few days had been It a run, yesout about terdsy, resolved on. paying suetained seven heavy hundred thousand dollars. It is a State Institution, issuing no notes, and the suspension only affects depositors At Jay Cooke & Oo.'s bank, (matters are progreasing quietly. The clerks are busy in preparing a statement which before a members but un of will the be firm, laid this cannot meeting take of place the til after the arrival of the steamer Russia on board of which two members of the firm are passengers. The Russia is expected to arrive on Monday. SECOND DISPATCH-MORE SUBPENSIONS IN NEW YORK. NEW YORK, Sept. 20. The Union Trust Company has suspended until Monday, on account of money out on call loans not having been paid in. White and Co., also suspended. Stocks opened a little better, but declined a gain on the announcement of above suspensions. THIRD DESPATCH. New York, Sept 20. Edward Haight & Co. have suspended. The extensive leather firm of Horace Carr & Son, of Woodbury, Mass.. has suspended with liabilities of $100,000, and assets $15,000. The senior partner has disappeared. FOURTH DISPATCH. New YORK. Sept 20. E. Moorhead and K atchu n and Balkaap have suspended, Nothing is doing in Government securities and stocks are feverish. Saxo and Rogers have suspended. The National Bank of the Commonwealth has suspended and there is a rumored dafalcation in the Union Trust Co. FIFTH DESPATCH-SALES OF STOCK FORBIDDEN. NEW YORK, Sept 20. The President of the Stock Exchange has forbidden outside sales by members of the Board on the penalty of expulsion. Proposals to sell bonds to the government aggreated two million, six hundred thousand dollars, at 109 to 112. It is impossible to give stock quotations. SIXTH DISPATUH-THE STOCK EXCHANGE CLOSEDMORE FAILURES. New YORK, Sept 20, The Stock Exchange, was closed at noon by order of the President of the Board to avoid any further panic. Six additional broker firms are announced as suspended. Stooks opened at an advance, but fell from 2 to 25 per cent, on bank failures baing announce ed, SEVENTH DISPATCH-PHILADELPHIA STOCKS EXCITED. PHILADELPHIA, Sept. 20. Philadelphia Stocks are excited. Penna. 6's are quoted at 105; Reading, 99; Penna. R. R. 97; gold, 111. EIGHTH DISPATCH-MORE BANKS AFFECTED. NEW YORK, Sept, 20. The National Trust Company is closed, and the clearing house have thrown out certified checks of the Continental Bank and,Merchants Banking Association. NINTH DISPATCH-THE UNION TRUST co.'s DEFALCATION. NEW YORK, Sept. 20. The run on the 4th National Bank continues, but the institution still holds out. Notice has been given that no general clearance can be exto to pected day, certified dealers in finding manner. it impossible get checks a proper The Bank of North America has suspended at Albany. The defalcation in the Union Trust Company amounts to half a million. At Albany, Squires & Sons' Banking house has failed. TENTH DISPATCH-NO MORE FAILURES IN PHILADELPHIA. PHILADELPHIA, Sept. 20. There have been LO futher failures here. ELEVENTH DISPATCH-OOCE'S LONDON HOUSE. LONDON, Sept. 20. Cook's banking house continues to meet all its demand. The Lutherans.

3. September 20, 1873 The Daily State Journal Richmond, Alexandria, VA
Article from The Daily State Journal, September 20, 1873

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THE FINANCIAL CRASH. More Failares-The Government Buys $10,000,000 Bonds. NEW YORK, September 20.-The presidents of the national banks held an informal meeting this morning, and resolved to support each other and disregard any restrictions in to-day's dealings. Wall street was crowded at an early hour, but, however, with less solicitude. The resolution of the banks to sustain each other and the purchase of ten millions of bonds by the treasury nerves matters. Two members from Jay Cooke & Co. are coming on the Russia, which is expected Monday, when a reliable statement of the affairs of the house will probably be presented to the public. WASHINGTON, September 20.-The following failures are reported this morning: Union banking company, of Philadelphia ; Union trust company, of New York ; A. B. White & Co., of New York; E. C. Broadhead, of New York, and Ketchum & Belknap, of New York. NEW YORK, September 20.-The stock exchange is closed, subject to the call of the president, to enable members to settle. The defalcation of the Union trust company is reported. Vanderbilt is closeted with the directors. Quotations of stocks are impossible. President Chapman, of the stock exchange, forbids outside operations by members, upon penalty of expulsion. WASHINGTON, Septemper 20.-A. G. Cottrell, agent of the syndicate at London, telegraphs to Secretary Richardson that their accounts are all in perfect order. ADDITIONALSUSPENSIONS. Saxe & Rogers, New York; National Bank of the Commonwealth, New York Quassig & Fisher, P. M. Meyers, Miller & Walsh, Laurens Josephs, Fearing & Dillinger, Brown, Wadsworth & Co. The Freedmans' bank has paid out $65,000. The officers declare themselves well fortified. There is only the usual Saturday afternoon crowd about the bank. NEW YORK, September 20.-The National trust company has closed its doors. Certificates of the Mechanics banking association and the Continental bank, are thrown out from the clearing office. The bank of North America has suspended. PHILADELPHIA, September 20.-It rumored that the Union banking house has suspended. ALBANY, September 20.-Itis rumored that Squires & Sons have suspended. The Crisis in London-Jay Cooke's Firm Honor All Demands. LONDON, September 20.-The firm of Jay Cooke, McCulloch & Co., in this city, has paid cash over their counter yesterday notwithstanding the rush on the house. EFFECT OF THE NEWS FROM NEW YORK. LONDON, September 20.-Financial re ports in the afternoon papers indicate an uneasy feeling, occasioned by the news from New York. The close of the marS ket, however, finds confidence partially restored, and at this hour London's financal condition is sound. There are no failures. WHAT THE LONDON PAPERS SAY. LONDON, September 20, 6 a. m.-The London Times, commenting on the financial panic in New York, says : "In view of : the extraordinary prosperity of the United States, and high price of Government bonds the present must be regarded as a simple effort of the financial system to get rid of its dishonest element." The Daily Telegraph says such local P troubles as suspensions in New York seem to be merely the rank outgrowth of exu3. berant prosperity and accessories to progress, which does not for a moment halt.

4. September 20, 1873 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, September 20, 1873

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BUBBLES BURSTING. [Continued from the First Page.] money has been wasted. The failure will not affoot the dry goods trade at all." THE NATIONAL LIFE COMPANY denier positively that it will be affected by Mr. Cooke's suspension, Mr. Cooko in Chairman of the Finance Committee of the Board of Directors. THE NATIONAL BANKA. At the Union Banking Company, nt Fourth and Chestnut streets, the run was kopt up from half-past 10 this morning until the hour of closing, and there was no want of funds to meet all the obligations of the institution RB they came in. To show the carnestness of the Company,to demonstrate that they were in no financial strait,DDS of the officers made it his sole business to keep the people in line, and to facilitato the payment of their checks as far as it was possible to do so. At the Soventh National Bank no change was observable from the ordinary routine. This bank is regarded as the largest depository of Jay Cooke & Co. The firm are cashing the checks of the Fidelity as fast as presented. All rumors to the contrary notwithstanding, there has been no run at the Central National Bank, on Fourth, below Chestnut street; and should there bo, ample proparations have been made therefor. There was no run on the People's Bank. Mr. Komble, the President, says that there are FEW DANESTHAT ARE NOT GOOD. He does not expect any extraordinary run on his establishment. The general panic does not seem to affect the dopositors in the Provident Life and Trust Company, the usual amount of business being transacted. There has been some little pressure on the Philadelphia, Franklin, and several other savings institutions. THE SECOND FAILURE TO-DAY, after Dellaven & Bros., was that of Gilbough, Bond & Co., which closed at 1 p. m. The firm states that their dificulties are owing to the general panic, and to their having loaned money to Jay Cooko & Co., a loan having been mado as late as Wednesday, the same being returnable to-day. Their assets, they say, are in excess of their liabilities, and the suspension is but temporary. A MEMBER OF EFIRM MXPLAINS. Mr. Gilbough Rays: "A Now York house in which we haves large balance has also closed on us. Wo will be able, however, to pay dollar for dollar." THE FAILURES COME THICKER AND FASTER. The following firms went down in rapid succession George II. North, 125 South Third street. J.P.& II. E. Yorkes, No. 29 South Third street. Charles P. Bayard, No. 228 1/4 Walnut street. John P. Lloyd. Henry H. Douglass, No. 305 Walnut street. H. Hober Bull, No. 131 South Third street. T. O. Knight, No. 136 South Third street. Henry L. Fell & Bro., No. 305 Walnut street. Many small houses are tottering, and will doubtless go under in a general crisis. Mr. Smith, President of the BANK OF MORTH AMERICA, assured me that the panic had caused no run there. He says: We have 50 per cent above our liabilities

5. September 21, 1873 The Dallas Daily Herald Dallas, TX
Article from The Dallas Daily Herald, September 21, 1873

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TELEGRAPH BY NEWS SUMMARY. NEW YORK, September 20.-The Presidents of the National Banks, held an informal meeting to-day, and resolved to support each other and to disregard reserve instructions in their dealings to-day. Wall street was crowded at an early hour; there is less solleitude, however, than yesterday. The resolution of the banks to sustain each other, and the sale of ten millions of bonds by the Treasurer, nerves matters. Two members of the firm of Jay Cooke & Co., are coming from Europe, in the Russia, which is expected on Monday, when a reliable statement of the affairs of the house will be presented to the public. Additional suspensions-Saxe & Rogers, National Bank of Commerce, Quossig & Fisber, P. M. Meyers, Miller & Walshe, It is rumored that the Union Banking House, of Philadelphia and Squires & Sons, of Albany, have suspended. The Stock Exchange is closed, subjeet to the call of the President, to enable members to settle defalcations in the Union Trust Company. It is reported that Vanderbilt is closeted with the Directors. Quotations of stocks impossible. President Chapman, of the Stock Exchange, forbids outside operations qy members under penalty of expulslon. The Bank of North America has suspended. HARTFORD, September 20.-In the Mobilier case, Attorney General Williams said that the Union Pacific Railroad were not only the agents of the government, which had provided the money for a public good, but their road was a highway, and as the trust assumed by the company has been violated, he looked for a decision that would do more good in railroad matters than all legislative enactments. was who the He defendants, followed by holds Judge that Carter the bill for was too multifarious to be brought in. READING, Pa., September, of the State Grange Patrons of 20.-The Industry, organized here to-day. Twentytwo delegates were present, representing twenty-five Granges. WASHINGTON, D. C., September 20.Trust Failures: Philadelphia-Union Union Banking Company Company New York- A. B. White & Co. ; E. & agent of the Broadhead; A. London, G. Cattel, Ketchum Belknap. Syndicate, at telegraphs to Secretary Richardson that their accounts are all in perfect order

6. September 21, 1873 The Daily Phoenix Columbia, SC
Article from The Daily Phoenix, September 21, 1873

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Bank were thrown out from the office Continental clearing The Bank of North America has suspended. The Stock Exchange in closed, subject to call. The President will enable\the members to settle the defalcation of the Union Trnat Company, It is reported that Vanderbilt is closeted with the di rectors. Quotations of stocks impossible. President Chapman, of the Stock Exchange, forbide outside operations by the members, upon penalty of expulsion. A.G. Cattell, agent of the syndicate at London, telegraphs Secretary Richardson that their accounts are in perfect order. 4P. M.-Alluding to the suspension of operations by members of the Stock Exchange, the Evening Express says: 'Too much praise cannot be awarded to the men who conceived and carried out this master stroke of policy. Bedlam was running loose, and the craze was rapidly communicating itself to the outside multitude. Nothing remained but to shut the door, and try and bring back the bulls and bears alike to their senses." The defalcation of the Union Trust Company is $500,000. The Bank of North America has not suspended. Western Union stock 57. The clearing house announces its inability to make H general clearance, on account of dealers' inability to obtain properly certified checks. The bank presidents, at their meeting this afternoon, passed a resolation to issue immediately $10,000,000 in loau certificates. TORONTO, September 20.-H. J. Morse & Co., bankers, have soapended. is PHILADELPHIA, September 20.-It rumored the Union Banking House suspended. ALBANY, September 20.- It is rumored Squires & Sons have suspended. WASHINGTON, September 20.--The following failures are announced Uniou Banking Company, of Philadelubia; Union Trust Company. A. B. White & Co., E. C. Broadhead, Ketchum & Belknap. New York. NEW YORK, September 20-Noon.Cotton quiet and nomiual-uplands 183/; Orleans 191/2, new crop; futures opened as follows: September 18 1-16, 181/6; October 175; November 17 7-16 Flour dull and heavy. Wheat nominally 2@3c. lower. Corn nominally 1@2o. lower. Pork dull and nominalnew mess 17.75@17.87% Lard dull and in buyers' favor-old Steam 11-16 @834. Freights quiet. No stock quotations to-day. 7 P. M.-Cotton-net receipts 217 bales; gross 2,481. Futures closed firm; sales 5,100 bales, as follows: September 181/6; October 175, 11-16; November 17%, 17 7-16; December 17% 17 7.16. Cotton dull and nominal; sales 236 bales, at 183/@191/2 The monetary panic unsettled the market for breadstuffs generally, and prices for all desoriptions are nominally lower, with not enough doing to fairly establish the market. Flour sold in small lots to local trade at 7.00@8 20 for common to fair extra Southern; 8 25@11.00 for good to choice ditto. Wheat dull, and 2@4c. lower, owing to difficulty in negotiating exchange; shippers not in market to any material extent-1.46@ 1.49 for Iowa spring; 1.45@1.72 for Chicago; 1.67 for winter red Western; 1.70 for white. Pork quiet and easier, at 17.75@17.871/2 for new mess. Lard lower-81/@85 Groceries quiet. Freights quiet. No regular money market. Gold closed at 1/@ 12. Governments and States, nothing doing. The Western markets show a general halt in transactions, without any change in values. AUGUSTA, September 20.-Cotton dull and nominal-middling 161/2; ceipts 250 bales; sales 225. GALVESTON, September Cotton in DO demand-good ordinary 161/4; net receipts 353 bales; stock 5,950. BOSTON, September 20.-Cotton quiet -middling 203/; net receipts 25 bales; sales 96; stock 290. CHARLESTON, September 20.-Cotton dull and nominal-middling low middling 17; strict ordinary 16; net receipts 67 bales; exports 912; sales 100; stock 4,748. WILMINGTON, September 20.-Cotton steady-middling 19; net receipts 1 bales; sales22; stock 388. New ORLEANS, September 20.-Cotton very quiet-middling 19; net re. ceipts 375 bales: gross 618; exports to Great Britain 1,119; coastwise 2,986; sales 100; stock 8,110. SAVANNAH, September 20.-Cotton quiet-middling 171/; net receipts 119 bales; sales 307; stock 6,127. LONDON, September 20-Noon.-The news from New York causes better feeling in American securities. 5s 911/. LIVERPOOL, September 20-Noon.Cotton dull and unchanged; sales for

7. September 21, 1873 The New York Herald New York, NY
Article from The New York Herald, September 21, 1873

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THE EFFECT THROUGHOUT THE COUNTRY. How Philadelphia Takes the Financial Tidal Wave. PHILADELPHIA, Pa., Sept. 20, 1873. One of the leading morning papers, in reviewing the situation of financial matters, speaks as follows:Business in Philadelphia is conducted upon a. much more solid basis than in any other city of the country. Our regular banking institutions have strength and character, and are generally untainted with the vice of stock gambling. Our merchants are noted for their conservatism, and confine themselves to legitimate trade, leaving the getting up of corners and immense speculative ventures to their faster brethren of New York and Chicago. They may be slower than some of their neighbors, but that they are also a great deal surer is abundantly shown in the present stress of financial difficulties, and has been proved in numerous crises hitherto. By the time the journal was in the hands of its commercial readers a rumor arose that a prominent institution had closed its doors, and right in face of the editorial was announced the failure of the Union Banking Company. This company was a State institution, invested with pretty much the same power as a savings bank, and did a large business in discounting draits and orders. This morning the anxious crowd gathered about the doorway could gain no further explanation of the suspension than that expressed in the following card:Owing to the heavy pressure of demands upon us yesterday we will be compelled to suspend for a few days. Up to the time of the present writing there have been no other failures, though the run upon several institutions has been exceedingly large. At an early hour this morning, in fact the very instant the doors of THE FIDELITY TRUST COMPANY were opened to the public, a stream of people began pouring in and out, but the demands of every one were rully satisfied as they were yesterday. when at three o'clock an officer of the bank appeared at the door and said:I desire to announce that the hour for closing this bank has arrived. There are many depositors inside, all of whom will be paid as rapidly as they present their checks. All persons outside and within the range of mv voice holding paper against us are requested to enter and they will be paid after the doors close. The lact that all checks presented were promotiv

8. September 21, 1873 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, September 21, 1873

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ally dosires 118 a asy that he has not cent thoro, publicly or privately, nor line he any monoy anywhere that dia danger. Gov. Hartrauft arrived to-day, but has no special mission. Thoscono In THE STOCK BOARD to-day WAR very exciting, there being many brokers present, and all were greatly excited. The aceno was almost indescribable, Mon were flying around the room shouting themselves hoarse, throwing their hata up, yelling, thrusting up their hands, bidding, selling, etc., requiring B constant use of the gavel by the President to maintain what did not even approach order. Tho First Board opened with & very buoyant feeling, with largo sales of Reading and Pennsylvania, the latter be ing in great demand. Presently the boars got control and began & heavy movement, which the bulls resiated tenaciously. Thon, however, disastrous news came from Now York of heavy falls in stocks, and the bulls gave way to the bears, allowing the latter full control for a while. When the pressure ceased the bulls went in again and hold the market steadily. The firm of Carlyle, on Third street, small operators, failed early in the day. The Stock Exchange has not closed. Until further orders from the President, all operations in the street are prohibited on a penalty of expulsion. INCIDENTALS OF THE DAY. Yesterday afternoon & rumor obtained currency that the night broker of No. 136 South Third street, and a member of the Board, had been obliged to suspond, and in the hurry and excitoment it obtained a place in somo of the evening papers, Wo are happy to state that there was no foundation whatover for the report. Mr. Knight weathered the atorm of yesterday successfully, and WAS thon, as ho is now, as sound as A week ago. The great house of Drexel & Co., No 36 South Third street, remains as stable as a rock. All the morning their office has been crowded, but the run has been for the purpose of getting rid of monoy, and not to clamor for it. Persons wishing to make an investment of their currency have been obliged to take their places in a long lino and wait their turn for a chance to pass their money over the counter. Pennsylvania appears to have been the favorito stock sought, and the operations of the Drexols in it have been very largo. The Cashier of the Union in Now York gave the fol lowing statement: 'We have a large number of depositors to whom we allow 4 per cent, and, in addition, wo havo n very largo country correspondonce. Universal distrust, which the events of tho past fow days has caused, Beized the holders of our paper in the interior and brought them down upon US. The result was that we were drained. We expected this, but not to the degree that was realized. Wo have a long lino of call loans, and from this wo hoped to realize enough to carry us through. We are now engaged upon a formal statement, but probably will not have it finished before Monday about noon." This statement is all very good, but it is my decided opinion, formed from conversation with somo of the most eminent financiers in this city, that the firm will NEVER RECOVER. At present, I can state on good substantial authority that they cannot pay 40 per cent. AN INTERVIEW WITH A BANK PRESIDENT, Immediately upon the reception of the news of the promised action of the Secretary of the Treasury, a reliable friend of mino called on the President of the Bank of North America, and gleaned the following Mr. F.-The Secretary of the Treasury has announce ed that if the $10,000,000 which he line set afloat will not rollevo the community ho will issuo $40,000,000 of groonbacks, which will be the end of that proceduro. Mr. Smith-That is as you look nt it. If the Secretary of the Treasury intends to place the $10,000,000 in our depositorios for the use of the banks the relief will undoubtedly be foll, and with the anticipated result, but if he morely intends to buy up that amount of five-twenty bonds, it is doubtful whether that result will be achieved. Mr. F.-Why Mr. Smith-Because, in the present distrossed condition of the community the people loze confidence in corporations and securities, and hold on to their bonds as the surest Investment they have. Those it is doubtful they will part with to an amount sufficient to have the offect that is desired, as the Government will only buy these bonds. It will be Been that the Secretary cannot get A large quantity of them. A large amount of greenbacks cannot in this way be released. If he intends to place the money so that the banks can have the ueo of it, then the rellef will certainly come. FEARS. It is feared that the excitement will bengain renowed on Monday. Many of my commercial frieuds in Wilmington and elsewhere havo been in town today. Some drew their funds, and others concluded to wait. I hear that n number are coming here on Monday from Reading, Pottsville, Chester, etc. Restdonta of Camden, N. J., are fearfully excited, and I firmly believo that not twenty of its residents have failed to draw their accounts. [To the Associated Press.] FAILURES. PHILADELPHIA, Sept. 20,-The Union Banking Company has failed. This bank has n State charter, and bore a heavy run yesterday. t Jay Cooke's the clerks are preparing a statement to be laid before the members of the from on the arrival of the Prussia, on board of which are two of the partners.

9. September 22, 1873 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN
Article from Memphis Daily Appeal, September 22, 1873

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PHILADELPHIA, September 20 - The excitement over the failures has abated, and matters are beginning to assume a right shape. Although the stock market was somewhat feverish to-day, yet affairs on the street were more settled, owing no doubt to the promises of the secretary of the treasury to make use of the forty-four million reserve fund If desired. The failure of the Union banking company, of this city, had but little effect on the public mind, as it was a small concern, and its failure cannot possibly affect other institutions. The Fidelity trust and safe company met all its obligations to-day. The run was not as heavy as yesterday, only about four hundredthousand dollars being paid out.

10. September 22, 1873 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, September 22, 1873

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Conference with Bankers Yester day The Treasury to Buy all Bonds Offered The $44,000,000 Reserve to be Drawn on If Needed. Prospect for Improvement To-Day. Saturday's Report. REPORT ON THE WARKHOUSE AND BECURITX COMPANY w-York, Sept. 20-The Examining Committee on the condition of the Ware. house & Security Company, reports the total assets of the loans on stocks, bonds, cash on hands and bonds, stocks and real estate owned by the company at $2,946,421; total liabilities including capital at $2,827,400; excess of assets over liabilities $619,020. Estimating at the minimum value the collateral pledged for loans and property owned by the company, there remains a surplus of $1,124,884. Excluding the capital stock, the company believe this will guarantee the payment of their indebtedness and recommend an extension of twelve months from October first; that the Directors convert the assets into cash as fast as practicable, and declare a dividend when the cash on hands amounts to 10 per cent of the liabilities, and four of the present directors be replaced by four elected by the creditors. HOBOKEN SAVINGS BANK IN ROUBLE. The suspension of Fisk & Hatch is said to make probable the embarassment of the Hoboken Bank for Savings. A defalcation of nearly $70,000 was discovered in the bank lately, securities and the to directors make disposed of some up the deficiency, depositing with Fisk & Hatch $94,000 of the amount realized. The suspension of the firm makes this amount unavailable at present. EFFORT TO RECOVER LETTERS SENT TO JAY COOKE & 00. A number of telegrams were received at the Postoffice yesterday, requesting the postmaster to withhold from delivering letters bearing the stamp of the firms send ing the messages, and which were ad. dressed to Jay Cooke & Co. The postmaster could not comply with the request as the postal regulations provide that after a letter has passed from the mailing office, the delivery of it cannot be prevented or delayed by the alleged writer. The Court of General Sessions adjourned early yesterday to give the jurors and court officers an opportunity to look after their bank accounts and securities. SUSPENSION OF THE UNION TRUST CO. NEW YORK, Sept. 20.-The Union Trust Company suspended at half-past ten. THE TREASURY ROND PURCHASE. NEW YORK, Sept. 20.-The sub-T'reasurer has posted a notice stating that has beer instructed by the Secretary of the Treasury to purchase ten millions dollars of bonds to-day, This prompt response of the government to the request made for relief by brokers yesterday gives apparently additional strength to the strong and encouragement to the weak, and it looks now as though the worst was over. The stock market shows an improvement of five per cent. The Union Trust company announces that it will re's some Monday morning. FAILURE OF PHILADELPHIA UNION BANKING CO. 88 PHILADELPHIA, Sept. 20.-The Union es Banking Company has failed. This bank 10 has a State charter and bore a heavy IND n. yesterday. es STOCKS ON THE SEE-SAW. at st NEW YORK, Sept. 20.-Stocks are going a up and down lively and several sales have been made under rules which would imply that other failures have taken place, ed although the only one made known yet is ay that of the firm of C. G. White & Co. Western Union has touched 60. The susd pension of the Union Trust Company it

11. September 22, 1873 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, September 22, 1873

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PHILADELPHIA. The Financial Position. PHILADELPHIA, September 20. .-The Fidelity Trust Company, did not close at three o'clock yesterday afternoon. but continued to meet all demands, re= ceiving ohecks as late as five, at which time over nine hundred thousand had been paid out. Mr. Brown, the President, said be would keep open until midnight if it was necessary to show depositors that that institution was in a sound condition, and able to meet all claims. The Union Banking Company was run upon up to the hour of closing, at which time about five hundred thousand dollars had been paid out. There was a run on the First National Bauk, but it did not amount to much. It is said that neither the State nor the city funds are disturbed, the State and City Treasurers having no connection weatever with Jay Cooke & Co., or any of the endangered houses Thurd street is comparatively quiet this morning. The run on the Fidelity Trust Co, has almost entirely subsided. The Union Banking Company did not open to-day. A placard on the door states that owing to the heavy demand a suspension of a few days had been resolved upon. It sustained a heavy run yesterday, paying out about seven hundred thousand dollars. It is stated that the institution is issuing no notes, and the suspension only affects depositors. At Jay Cooke & Co's the clerks are preparing a statement to be laid before the meeting of the members of the firm on the arrival of the steamship Russia, on board of which are two of the partners.

12. September 22, 1873 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, September 22, 1873

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In General. FAILURE. Philadelphia, 20. The Union Banking Co. has failed. This bank is a State chartered affair, and bore the heavy run yesterday.

13. September 22, 1873 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, September 22, 1873

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Philadelphia Bank Smashed. PHILADELPHIA. Se pt. 20.-The Uvion Banking Company is Lot open to-day. A placard on the door states that owing to the heavy demands a suspension of a few days has been resolved upon. It sustained a heavy run yesterday, paying about $700,000 It states that the institution is issuing no notes, and the suspension only affects the depositors. At Jay Cooke's matters are progressing quietly. The clerks are busy preparing a statem nt to be laid before the meeting of the members of the firm, which cannot take piace until after the arrival of the steamer Russia, as two partners are passengers.

14. September 22, 1873 The Rutland Daily Globe Rutland, VT
Article from The Rutland Daily Globe, September 22, 1873

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nancial crisis formed the subject of general conversation. ### RUN ON BANKS. A slight run on several of the east side savings banks yesterday is reported. ### PRESIDENT GRANT DECLINES TO INTERFERE. President Grant and Secretary Richard- son have been in consultation at the Fifth Avenue Hotel since noon to-day, with pro- minent capitalists and merchants, includ- ing Commodore Vanderbilt. The follow- ing is the result as far as known at 8 o'clock to night: President Grant positively declines to in- terfere with Wall street as any action of his would be unconstitutional. ### PROPOSITION OF COMMITTEE. The committee of bankers and merchants have come down to a final proposition for the government to issue $30,000,000 of le- gal reserve. ### OPINIONS OF REVEEDY JOHNSON. Reverdy Johnson is said to have given his opinion to the effect that to use the le- gal reserve for this purpose is unconstitu- tional, but that if he (Johnson) was Presi- dent he would be disposed in an emergency like the present to make the utmost efforts to avert the impending disasters. PHILADELPHI, Sept. 21. ### EXCITEMET ABATED IN PHILADELPHIA. The excitement over the failures has abated and matters are beginning to assume a right shape although the stock market was somewhat feverish yesterday yet af- fairs on the street were more settled owing no doubt to the reported promise of the Secretary Treasurer to make use of forty- four million of the reserve fund if desired. The failure of the Union Banking Co. in this city had little effect on the public as it was a small concern and its failure can- not possibly affect other institutions. ### FIFTH AVENUE HOTEL CONFERENCE. NEW YORK, Sept. 21-9 Π³. ΠΌ. The conference at the Fifth Avenue Hotel to-day in relation to the best means of overcoming the difficulty resulting from the receut financial disasters in Wall street absorbed public interest to an almost un- paralled degree. The fact that President Grant, Secretary Richardson and other high officials of the government had come here to deliberate on the best means for preventing further disasters to the mercan- tile community and consequently to the country at large, was generally known. Early this morning, in consequence, not only the leading bankers, brokers and mer- chants were in attendance at the hotel. The general public flocked thither in won- der and listened to the views of Wall street men, and gathered in knots discussing the situation. President Grant, Secretary Richardson, Senator Morton of Indiana, and General Babcock were ready before noon to hear the views and suggestions of prominent merchants and financiers. A large num- ber of these had previously held a confer- ence in one of the parlors of the hotel to re- duce their plans to a definite shape. ### DOINGS OF THE COMMITTEE. The committee first made a general pro- position that the present financial difficul- ties should be relieved by drawing on legal tender reserve. The committee had not agreed at this time as to the amonnt of such reserve which would be probably required. Grant and Richardson sent for many mem- bers of the committee in turn, and secured their views on the subject. ### SECRETARY RICHARDSON OPPOSES THE IS-SUANCE OF LEGAL RESERVE. After hours spent in this way, and after listening to the reading of written views of several leading members of the committee, President Grant and Secretary Richardson informed the committee that nothing could be done until precise propositions had been submitted to the majority of the commit- tee, prepared verbally, that the govern- mont should if necessary place the whole legal reserve, $44,000,000 in the New York city banks. Secretary Richardson opposed this suggestion in the strongest terms and said he was utterly and inflexibly opposed to issuing any considerable portion of the legal reserve for the use of city banks.

15. September 25, 1873 The Toledo Chronicle Toledo, IA
Article from The Toledo Chronicle, September 25, 1873

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Panic in Wall Street. The financial world was shocked last Thursday by the announcement that the heavy firm of Jay Cook & Co,, of New York, had suspended payment This firm, as is well known was one of the heaviest banking houses in the world, having advanced immense sums of money w the gov erument during the war when the national credit was gone, and being now one of the leading members o! the syndicate, besides having advance ed millions of dollars to Railroad companies. Th bank suffere a run on Thursday morning. an was com pelled quate early 1a the day to clust The phuosophy of this future, which led to many other suspensions, must be sought in the fact that, instead of attending to a. legitim t banking bu-mess, speculative enterprises were entered into. Immense loads of railroad bonds, in which capitalists are now slow to invest, were taken and the result we see in a financial crisis, whose extent will never 1, known, because of the heavy loss on tailed upon holders of railroad stock responded of at a she " after 1. panic occurred. Among the new vailures we notice the following: Fish & Hatch, N " Y ik; the Fax National Bank of Washington, the New Your Unen Trust Company; he National Bank of in Common wealth, N.W York the National Trust Company. New York; the Bank of America, Non York; the Union Banking Company. 01 Philadelphia. These froms," of them at least. were intimatey associated with Couke & Co 111 their business trans actions, and the financial distress will be more of less wile-spread in proportion to the permanency of the failures. If the alone soff l' ed from the panic, the financial dis turbance would excite little sympto thy, but as it entailed losses upon many who had their all invested in radroal securities, which they sold at he ay loss, the panic is J. plorable. The effect produced upon the floor 01 the Stock Exchange may be intere red from the fact that last Saturday the extreme factuations on some clocks were as follows: Harlem 30 per cam; Panama, 18; Rook Island 91; Western Union. 9; Hammbal & St. Joseph, 9, with other stocks flue tuating from 2 to 8 points. The government came to the relief of the money market by purchasing U. Bonds. By this meaus, togeth. er with the action of Bank Presi dems, through the Clearing House loan certificates, many millions of greerbacks were released, with III touching any portion of the $44,000. 000 reserve now In the National Treasury.

16. October 1, 1873 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, October 1, 1873

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Halifax, N. S., to send George Brown to Europe to row a match with Sadler for the championship of the world. The bust of John Howard Payne was unveiled at Prospect Park, Brooklyn, on Saturday. The ceremonies closed with "Home Sweet Home," by a grand chorus of school children. The Pennsylvania State Treasury is reported to be a loser by the failure of the Union Banking Company of Philadelphia to the extent of nearly half a million dollars. On July 4, 1872, Mrs. John Ham of Canterbury received a shock during a heavy thunder shower, rendering her speechless above a whisper. A few days since, on the occasion of becoming a mother, her voice was fully restored. In Black Hawk township, Grundy county, Iowa, two prepossessing girl graduates, aged twenty-two and twenty, are practising medicine, and the number of young men on the sick list is really astonishing. President Grant, and Gens. Sherman, Sheridan, and Hooker had a narrow escape from being run over by a coal train at Pittsburgh, week before last. The cow-catcher of the engine grazed the hind wheels of the carriage in which they were crossing the track. One day last week, in the Superior Court, at Newburyport, a member of the bar was surprised at the close of his argument to the jury to find quite a rent in his pantaloons, which interested the spectators more than did the trial. This young lawyer, being a modest gentleman, has not been seen in court since

17. October 8, 1873 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, October 8, 1873

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THE FINANCIAL SITUATION. CHICAGO, October 7.-The exchange bank of J. Q. Short & Co., of Danville, III., has asked an extension from its depositors. If the request is not granted, the bank will be compelled to suspend. NEW YORK, October 7.-Wylie. Knowles & Co., sugar dealers, have suspended. They have no statement to mase. Secretary Richardson, ex-Secretary MeCulloch, and Assistant Treasurer Hillbouse were in close consultation at the sub-treasury this evening. The business of the money-order department of the post-oflice has largely increased. On the 2d of October over $121,000 was received, and over $67,000 disbursed more than the corresponding date of September. THE UNION BANKING COMPANY. PHILADELPHIA, October 7.-The Union Banking Company of this city will re-ume business if its creditors will take fifty per cent. of their claims in stock of the bank, the other to be placed to their credit in cash. THE REDUCTION OF LABOR. CINCINNATI, October 7. -- -The Commercial and the Gazette of this morning publish the results of many interviews with leading manufacturers in the various departments, from which it appears that the number of hands discharged on account of the money stringency has been much over-estimated. Most of the manufacturers and artizans express the hope that they will be able to go through the pressure without further reduction of force or time.

18. October 9, 1873 The Jeffersonian Stroudsburg, PA
Article from The Jeffersonian, October 9, 1873

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CAMPAIGN LIBELS. It is true that we are upon the eve of an election. and it is also unfortunately true that at such time the leaders of either of the opposing parties do not hesi rate to use any material that can be found or invented against the possible success of the other But there are times full of financial peril to every citizen of the Com monwealth, just as surely as there are election times. and if atrocious libels can be defended during the warmest political contests-which we do not admit-they certainly cannot be when their circula tion is more likely to injure the whole people than the party that they are es pecially meant to injure. The Pittsburg Post in its partisan zeai has published and other Democratic jour nals have published, a series of libels up on State Treasurer Mackey, viz, that Mr Mackey had a large amount of the funds of the State deposited with Jay Cooke & that he had also a sum, Cos large about half a million of dollars, belonging to the Commonwealth on deposit with the Union Banking Company and that that there is a large deficit in the Treasury in con sequence of the failure of Mr. Yerkes of last year. To prove that these publications are libels the Pittsburg Commerical states by authority:We are authorized to say that the state ment published in yesterday's Post, con tained iu.a letter from Harrisburg, re specting Mr. Mackey, the State Treasurer. is false from beginning to end, and the writer of it knew it to be so when he wrote it, as did its editor likewise. The State Treasurer did not lose any thing by the suspension of the Union Banking Company of Philadelphia. His deposit there, on the day of the suspen sion was less than ten thousand dollars. and this sum is fully secured. The State loses nothing by the suspension, Nor is thereany deficit in Mr. Mackey's account growing out of the deposit with Yerkes. When Yerkes failed Mr. Mackey assumed the full amount of the deposit there, and paid it to the State. The Commonwealth did no lose a dollar by Yerkes' failure. The State Treasurer invites the fulles: scrutiny into his accounts, and courts in vestigation into their condition. If the correspondent of the Post, or its editor, or any one else, chooses to institute one, let him come on and satisfy himself. As to the kindred story in circulation that the State Treasurer had a large de posit with Jay Cooke & Co, we are au thorized to say that he had not a cent on deposit there, and that not a dollar has been lost to the Treasury by that suspen sion or any other. These libels against a most useful and exemplary officer. whese public record is as honorable to the State as to himself. would be inexcusable at any time and un der any circumstances, but at this time -when general distrust is threatening the whole country with financial ruinand under the present circumstancewhich combine to render the ear of the community open to receive them without a doubt of their genuineness-are unpardonably wicked and mischievous. Politicians may be never so hard press ed for means of political warfare as now. but to use means which can only tend to the destruction of the credit of the State and the injury of every citizen, is dastard ly and infamous-Inquirer.

19. October 20, 1873 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, October 20, 1873

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PHILADELPHIA. Special Dispatch to The Chicago Tribune. PHILADELPHIA, Oct. 18.-The money market continues in a dull and unsettled condition. There is sufficient urgency to absorb all the funds available, and the demand remains far in excess of the supply, though remittances and collections from the country are coming in more treely. Rates vary to-day from 10 to 12 per cent for call leans ou the best collaterals, and 15 to 20 for moreautile acceptances linving three to four mouths to mature. GOLD opened at 108% and closed at 103% American silver quoted at 101 to 100. UNION BANKING COMPANY. A meeting of the principal croditors of the Union Banking Company was hold to-day in the parlor of the Continental Hotel. The officors of the Company, and their counsel, Theodore Cuyler, were present. It was proposed that the creditors should agree to take 50 per cent of their claims against Bain in stock of the Bank, the remaining 50 por cont being placed to their credit in cash to be drawn against in their transaction of business. Agreed to, and a resolution adopted directing the Company's Board to vigorously carry out its provisions. The Company also expects to receive numerous now subscriptions to its stock, and the fund derived from this source, carriod with capital rotained by settlement, will placo the corporation on what they call a firm foundation. SUSPENSIONS. Tho suspension of A. & II. Middleton, iron doalers and car-spring manufacturers, has caused much surprise. Jamos B. Jewelt & Co., dealors in grocor's stores, have also suspended. THE MINT. Several millions of bullion have been sent within a few days to the United States Mint hore for coinage. PAY OF WORKMEN. The American Dredging Company have discharged thirty hands through the monetary stringency. Tho employee in the Camdon woolon-mills have had their wages reduced 20 per cent through the samo canso. The Ivanhoe Paper-Mills, in Patterson, closed to-day indofinatoly, from the gamo cause.

20. November 29, 1873 The Cairo Bulletin Cairo, IL
Article from The Cairo Bulletin, November 29, 1873

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From Philadelphia. BUSINESS RESUMED. PHILADELPHIA, November 28. - The Union Banking company, which suspended during the panic, resumed business to-day with capital increased to $700,000. Jas. Mason has been appointed registerer in the Jay Cooke & Co., bankruptcy case.

21. November 29, 1873 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, November 29, 1873

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NEWS OF THE DAY To show the very age and body of the Times." The Credit Mobilier suit; which was tried at Hartford, Conn., last October, has been decided by Judges Hunt and Shipman, and the opinion was filed in the United States District Court, yesterday. The motion to dismiss the bill involving the question of jurisdiction, was decided in favor of the Government. On the second point the Court sustains the demurrer, and dismisses the bill as to the parties who demurred. The ground of demurrer is that the damage to the Goverment by the Credit Mobilier process is too remote to be reached by the process pursued, or by any other, and that the government has at present no pecuniary interest to be reached by the bill. The Court takes the view that there is no trust raised anywhere in behalf of the Government to be protected. The jury in New York in the Harlem railroad boiler explosion case rendered a verdict yesterday. Ten of the jurors find Breemer and Coyne, the contractors, and John Barnom. the engineer, guilty of criminal neglect. The jury also censure the manufacturers of the boiler. The railroad company is censured for their want of care for the lives of their employees and others. A defect in the construction of the boiler caused the explosion, and the jury recommended amendments to the law on boiler inspection so as to conform to the U. S. laws. In the celebrated case of Jacob Tome against the Parkersburg Branch Rrilroad Company, which was decided on Wednesday by the Maryland Court of Appeals. The opinion of a majority of the Judges declared that upon the stock issued by John L. Crawford, the Secretary and Treasurer of the Company, with the seal of the company, and his own genuine signature as Secretary. affixed, is binding upon the company, whether the signature of P. G. Van Winkle, the President of the company, be genuine or not. The Fall River, Mass., manufacturers of boots and shoes have decided to commence on three-quarter time, viz: eight hours per day on five days, and seven hours on Saturday, making in all forty seven hours per week. Should the times continue to improve as rapidly as they have done during the past two or three weeks, it is believed that the month of January will see ali the mills running on full time again. The ereditors of the banking firm of Howes & Macy, in New York. met yesterday. The committee appointed at the last meeting to in vestigate the affairs of the firm submitted their report, which show the amount of liabilities to be $1,237,000 and assets, including individual assets, $6,013,250. It was resolved to accept the proposition of the firm, paying sixty. five per ct. 10 creditors. Milton Malone, who was condemned to be hanged, at Atlanta, Georgia, took morphine in prison, on Thursday night last, and died defiaut and unrepentant. He wrote a letter giving his religious views as having no belief in the Bible or hell. He also wrote a note to the jailor gloating over the fooling of the judge and prosecutors. Experiments were made with the Wiard gun at Boston, yesterday, which were regarded as very successful. The balls penetrated fifteen inches of solid iron plates. Capt. Truxton, U. S. Navy, Inspector of Ordnance, was present, and pronounced it a perfect success, as far as the experiments were carried. The working people of Patterson, N. J., following the example of their friends in Philadelphia, have called a mass meeting, at which a demand will be made upon the city authorities to find work for such as are out of employment. The New Jersey Court of Pardons have refused to commute the sentence of Jacob Mechella, the Russian sailor, convicted of murdering U. S. Marshal Stevenson, and he will be hauged on the 10th of December. The Union Banking Company, Philadelphia, which suspended during the panic, has resumed business, with its capital increased to $700,000. A dispatch from Eureka, Nevada, states that a volcano has broken out in Pinto Mountains, ten miles from that place, and dense volumes of smoke are issuing from the crater.

22. November 29, 1873 New-York Tribune New York, NY
Article from New-York Tribune, November 29, 1873

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BUSINESS PROSPECTS, THE FALL RIVER MILLS TO RESUME ON THREEQUARTERS TIME. BOSTON, Nov. 28.-The Fall River Manufacturers' Board of Trade have decided to begin on Dec. 1, to run the mills on three-quarters time, namely, 8 hours per day on 5 days, and 7 hours on Saturday, making in all 47 hours per week. Should the times continue to improve as rapidly as they have done during the past two or three weeks, it is believed that the month of January will see all the mills running on full time again. THE SPRAGUE TRUST DEED SIGNED. PROVIDENCE, Nov. 28.-The Sprague trust deed was signed late this evening by the A. & W. Sprague Manufacturing Corporation, and individual members of the family. The copy is withheld from the public until it shall be executed by the three trustees named in the instrument, which, it is now expected, will be done to-morrow morning. A BANKING COMPANY RESUMES BUSINESS. PHILADELPHIA, Nov. 28.-The Union Banking Company, which suspended during the panic, has resumed business with its capital increased to $700,000.

23. November 30, 1873 Pioche Daily Record Pioche, NV
Article from Pioche Daily Record, November 30, 1873

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Eastern Dispatches. ATLANTA, Ga., Nov. 29-Milton Malone, sentenced to be hanged to-day, died this morning from the effects of opium taken last night. NEW YORK, Nov. 29.-A Havana letter says the people there would refuse to allow any order from Madrid to deliver up the Virginius or make any other reparation for her seizure and the execution of her crew to be carried out. PHILADELPHIA, Nov. 29.-The Union Banking Company, which suspended during the panic, has resumed business, with a capital increased to $700,000. SOUTH BEND, Ind., Nov. 29.-John C. Solosky, a drunken Polander, killed another (Martin Losse) last night. NEW YORK, Nov. 29-The Sheriff today stated that Tweed would shortly be taken to Blackwell's Island. Sever members of the Plasterers Union, to-day entered the building in Trooklyn where non-society men were working, and beat them severely; one is believed to be fatally injured. WASHINGTON, Nov. 29.-The Cabinet had a session of two hours and a half today. It was remarked by a Cabinet officer, after the adjournment, that business was in such a condition that a single telegram on either side might change the whole proceeding. EVANSVILLE, Ind., Nov. 29.-Williams, e ex-Sheriff, yesterday shot the desperado Thornburg, who resisted arrest. Mr. Kloh, in showing how it was done killed a three-year old boy. a LITTLE Rock, Ark., Nov. 29.-The n prisoners in the Clarkville jail overpowered the guards on Tuesday. Citizens surrounded the jail, when a prisoner named Wallace fired a shotgun at them, y wounding two. The citizens then placed five kegs of powder in the jail, laid B train and gave the prisoners half an hour to surrender, or be blown up. They sur rendered. BOSTON, Nov. 29.-A dispatch from St Albans states that Anson Crane, of Bur 1 lington, Assistant Collector of Interna Revenue for the 3d District of Vermont has been declared a defaulter to the