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Another Defalcation of a Rhode Island Cashier. PROVIDENCE, Saturday, Oct. 19. The Mechanics' and Manufacturers' Bank of this place was enjoined yesterday, and its affairs placed in the hands of a receiver. The Cashier, Albert W. Snow, is a defaulter to the amount of $70,000 or $80,000. He has been arrested and held to bail.
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DEFALCATION OF A CASHIER. - The Mechanics' and Manufacturers' bank, of Providence, Rhode Island, was enjoined on Friday, and its affairs were placed in the hands of a receiver. The cashier, Mr. Albert W. Snow, is a defaulter to the amount of $70,000 or $80,000. He has been arrested and held to bail.
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HEAVY DEFALCATION OF A CASHIER PROVIDENCE OCT. 19. The Mechanics' and Manufacturers' Bank of this place wasenjoined yesterday, and its affairs placed in the hands of a receiver. The cashier, Albert W. Snow, is a defaulter to the amount of $70,000 or $80,000. He has been arrested and held to hail
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Another Defalcation of a Rhode Island Cashier. PROVIDENCE, Oct. 19-The Mechanics and Manufactu rers' Bank of this place was enjoined yesterday, and its affairs placed in the hands of a receiver. The cashier, Albert W. Snow, is a defaulter to the amount of $70,000 or $80,000. He has been arrested and held to bail.
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MONEY R K ET. TUESDAY, Oct. 22-6 P.M. The stock market this morning was not very buoy. ant. The sales were exceedingly large, but prices the for some of the leading fancies fell off a fraction. At 1/8 first board to-day, United States 6'8, 1867, went up per cent; Erie Income Bonds, 14: Canton Co., 14 1/4 ; Norwich and 5's fell off 1/4 per cent; Erie sylvania Railroad, Worcester, Delaware and 14: Canal, Penn- Hud- 1/4. Reading Railroad, 14; and Morris Nething has transpired to depreciate prices for any stock on the list, and it is the impression among holders generally. that the upward movement will again, and be carried further than has been this season. The large soon realized commence yet the healthy and steady state of gold from California, and have the public so receipts of trade, given mind almost out much of con- the fidence, that a serious reaction is question. The bears fired off one of their big guns to. day against Morris Canal. Some operator, who NO doubt is largely short of the stock, procured the publication in a Pottsville paper of an article, stating that the construction of a railroad from Easton to New York was determined on, and that it would reduce the revenue of the Morris Canal Company, and ruin all who held that stock. The ruse was so transparent that it was easily seen through. The people of Pottsville are interested in the construction of works communicating with their coal minee, and any improvement made in the in the Morris Canal, or any other work connected with the coal business must benefit the miners, and give them greater facilities for getting to market. If speculators, wish to depress prices for the stock of any company engaged in transporting coal to market, they had better not go into the coal regions to give their statements currency. The receipts at the office of the Assistant Treasurer of this port to day, amounted to $76,329.77 payments $107,395 2 balance, $4,507,371 10. The Union Bank has declared asemi annual dividend of five per cent. Mexican land warrants are in moderate demand. We quote sales at $130 a $135. The whole western division of the Pennsylvania rail. road is now under contract, with the exception of the Mountain division, and as the Portage railroad will, for a time. be used as a part of the line, the completion of the portions now in the hands of contractors will establish an unbroken railway connection be. tween Philadelphia and Pittaburgh. It is stated that the valuation of Massachusetts will exceed five hundred millions of dollars. The value. tion of Boston for 1849, was as follows:-Real estate, $102,827,500; valuation of personal estate, $71,352,700; total. $174,180,200. The correspondent of a New Orleans paper gives the annexed (estimate of the incoming crop of cotton, which it is believed will not vary much from the actual result. COTTON CROP OF THE UNITED STATES-ESTIMATED YIELD New Orleans (including direct receipts from Bales. Montgomery 850,000 Mobile. say an increase of 50.000 bales over last year. excluding direct receipts at New 380.000 Orleans from Montgomery Atlantic States Georgia, South Carolina. 600,000 North Carolina, and Virginia 160,000 Florida Texas 40,000 Total Crop 2,030,000 Should a frost come during this month. we be. lieve the injury to North Mississippi, Tennessee. and North Alabama, would curtail receipts 50,000 bales at jeast, besides cut off the receipts in Georgia and South Carolina. by its effect on the northern portions of those States. The Mechanics and Manufacturere' Bank of Provi. dence has had an injunction laid upon it, and a keeper appointed in consequence of an examination made by the commissioners appointed by the Governor of Rhode Island. The examination showed that the cashier was a defaulter to the amount of upwards of $70.000 and criminal proceedings were forthwith insti. tuted against him. The public, however, need have no apprehension as to the safety of the bill-holders, unless the condition of the bank has greatly changed for the worse since the last return, which was made in October 1849. The liabilities of the institution, according to that return, were as follows: Circulation $27,509.50 18,012.55 Deposits on interest. 28.543.01 Deposits not on interest Dividenda. 159.00 $74 294 07 Making total of While the capital is $186,150. So that If half the Capital stock should have been lost, still the public is secure. and not only the bills but the deposits will be paid in full. It would appear. therefore. that there need be no alarm among the bill-holders. The cashier has assigned to the bank all his property, to the amount it is said, of $40,000. The bank has cost meneed acivil proges against the cashier. laying the damages at one hundred thousand dollars. The transactions in printing cloths in the Provi. dence market during the past week were unusually Jarge, and at better prices The FALES amounted to nearly forty thousand pieces. as follows:- 1,000 pieces 60x64 28in 4% 2.300 45254 29 in 4N4 3 500 do. 59*68 2 in 4% 2,500 do 50850 25 ld. 8000 do 00x(45 in 4 3,000.00 la. 4% 3.000 do BESCO 40. 46440
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BANK FAILURE.-The Mechanics and Manufacturers' Bank, of this city, has been closed by the proper authorities, and Lewis P. Childs, Esq ap pointed receiver. The Cashier, Al. bert W Snow, is, we learn, a defaulter to the sum of $80,000 and a writ was yesterday afternoon placed in the hands of the High She riff for his arrest. 11. is charged with embezzlement. The affair creates quite a sensation out of doors. The capital of the Bank is $186,000. The Bank was enjoined on the application of Messrs. Allen O Peck and 11. W. Lothrop. Esq., who were on Thursday appointed by the Governor special commissioners to examine into the affairs of the Bank.The commissioners found that the Cashier's book did not truly represent its condition. The commissioners " quested him to make over his proverty. which he said would fully indemnify the Bank, which it will not do. The sonal property of the stockholders is liable. It is the opinion of the com missioners that bill holders will not eventually suffer. The Cashier has been arrested and held to bail in the sum of $10,000 for his appearance for examination.-Providence Mirror.
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Heavy defalcation of a Cashier.-Providence R Oct. 19.-The Mechanics' and Manufacturer's Bank, of this place, was enjoined yesterday and its affai rs placed in the hands of a receiver. The Cashier, Mr. Albert W Snow, is a defaulter to the amount of $70,000 or $80,000. He has been arrested and held to bail.
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The Mechanics' and Manufacturers' Bank of Providence (R. I.)' has suspended payment, and its affairs have been placed in the hands of a receiver. The cashier, Mr. Albert W. Snow, is said to be a defaulter to the amount of seventy or eighty thousand dollars. He has been arrested and held to bail.
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Albert W. Snow, cashier of the Mechanics and Manufacturers Bank. Providence. R. I., is declared a defaulter to the amount of about $80,000. The Bank is in the hands of a receiver and the cashier arrested and held to bail.
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The Cashier of the Mechanics' and Manufacturers' Bank at Providence is discovered to have appropriated some $75,000 to his own use. He has been arrested and held to bail, and the Bank placed in the hands of a Receiver to settle up its affairs. The capital of the bank is 186,150, and the personal property of the stockholders is liable for its debts.
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The Mechanic's and Manufacturer's IC Bank of Providence, R. I. has suspended payment. ob o) 6W 010 sadV7