22672. Bank of Madison (Madison, WI)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
September 1, 1873*
Location
Madison, Wisconsin (43.073, -89.401)

Metadata

Model
gpt-5-mini
Short Digest
57134b87

Response Measures

None

Description

Contemporary dispatches (late Sept.–Oct. 1873) report the Bank of Madison 'not paying anything at present' and shortly thereafter 'had failed' / 'went into bankruptcy' during the September 1873 panic. The articles do not explicitly describe a discrete depositor run (crowds, heavy withdrawals) that triggered the suspension; they frame the problem as part of the wider 1873 financial panic and internal mismanagement leading to bankruptcy. Therefore I classify this as a suspension leading to permanent closure (bankruptcy/receivership).

Events (3)
1. September 1, 1873* Other
Newspaper Excerpt
A Madison, Wisconsin, dispatch of the 1st announces that the Bank of Madison had failed. A Madison, Wisconsin, dispatch of the 1st announces that the Bank of Madison had failed. The Bank of Madison had failed. (repeated in multiple papers Oct. 1 dispatches.)
Source
newspapers
2. September 1, 1873* Receivership
Newspaper Excerpt
went into bankruptcy during the September panic, showing that it had been gravely mismanaged. The officers of the suspended Bank of Madison, at Madison, Wis., are soon to be brought to trial, on a charge of humbuggery and swindling
Source
newspapers
3. October 1, 1873 Suspension
Cause
Macro News
Cause Details
Refusal to pay during the September 1873 financial panic; banking stringency tied to nationwide panic (currency scarcity and failures in Chicago).
Newspaper Excerpt
All of our banks, except the Bank of Madison (which still keeps its doors open but is not paying anything at present)
Source
newspapers

Newspaper Articles (11)
1. October 1, 1873 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, October 1, 1873

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WESTERN COUNTRY BANKS. MADISON, WIS, Special Dispatch to The Chicago Tyliume. MADISON, Wis., Bopt. 30.-All of our banks, except the Bank of Madison (which still keeps its doors open but is not paying anything at present), are doing business as usual, and people genorally are taking things coally. DAVENPORT, IA. Special Dispatch to The Chicago Tribune. DAYENPORT, Ia., Sept. 30.-There is a great scarcity of money here, and trade is well nigh paralyzed. The banks still adhere to the limited check system, and, of courso, the supply of money la very much limited. The news of the failure of the Chicago Union National created a little feeling among bank men, innsmuch as the Dayenport National had an account there, On account of the scarcity of currency, our prominent lumber firm suspended operations to-day and discharged their men, and one or two other establiabments will do thesamo thing If money is not ensier within two days. Within the past three days several hundred men have been discharged by manufactories and contractors here, and the number will soon grow larger. The savings banks are taking in on deposit more money than they pay out in the National Banks. Tho currency balances are increasing. A meeting of bank officers was held this evening, the import of which has not yet transpired, DUBUQUE, IA, Special Dispatch to The Chicago Tribune. DUBUQUE, Sept.30.-The examination into the condition of the Merchants' National Bank has resulted in antisfying the examiners that the depositors will be paid in full, but that the capital in impaired, and that very likely the stockholders will be obliged to pay in more than the amount of their stock to meet the lis bilities. Messrs. Shefiield, the President, and Bab bage, Cashier, the principal debtors of the bank, Have pledged themselves to surrender all their property to make good the losses caused by their drawing on the funds of the bank. A full statement will probably be made to-morrow. The question is yet undecided as to whether the bank will or not require business. All the other banks ard doing bitéluens au usual. DUBUQUE, In, Bopt. 30,-The Merchante' National Bank of this city will not resume. The stockholders tonight voted to go into voluntary bankruptcy. Gen. O. 11. Booth will be appointed Receiver. The other banks are dolug their usual business. Trade is light KANGAS CITY, MO. Special Dispatch to the Chicago Discuss KANGAS CITY, Mo., Sept. 30. The LIOWS of the failuro of the Union National Bank of Chiloago this morning foll like n bombsbill among the business men of this city, many of them having largo accounts with Obleage tpen who have been depositing in that bank. Great unxiety is fult in regard to our banks here, but the officers of each bay they are confident of being able to pass through without their depositors loaing a dollar. The stock dealora are exclted over the nows from Chicago, but a larké number of care are being shipped on orders received yeaterday. The packers aro handling 4 liberal supply, and the prospect is that they will kill freely next week, but prices requality very low, ADRIAN, MIQII Special Dispatch to The Village Tribune. ADRIAN, Mich., Sept 31.-Friday last the First National Bank refused payment except in email amounts, and its action was afterwards followed by the savings bank and W. II. Stone & Co. There was a little excitement on Saturday, but no run. The bauka are now doing business regularly confidence is restored: merchants deposit freely, and their drafth ara honored at the banks. LOGANSTORT, IND, Special Dispatcle to The Ohlayia Iribune. LOGANSPORT, Ind., Rept. 344-The financial panic line not affected biletures here to any great extent, The national cod bavinge banks have been doing bud. HESH as Instal, all demanda having been promptly met. Fastorn shipments of stock and grain recover 11 temporary check, but now show signe or recovery. FOND DW HA WIB, Special Dispatch to The Chicago Tribuns. FOND Du LAB Wis., Sept. 30.-The banks have had the quicteat day for A month or more, No cau has lost confidence, GRAND HAPTON, MOIL Special Disputch (+ The Chicago Tribuns. GRAND RAPIDA, Mich., Sept. 30.-The financial 1:008 pect here lum rather improved 10-day. Nothing dianstrous seems likely to occur hereaboute, DEB MOINE& IA, Special Dispatch The Chicago Trilune. DESMOINES, In. Hept. JUL-State-Auditor Russell WITH today officially notified that the Dubuque Bayluga Bank had suspended, with liabilities largely 14 or 11a Assets. The action of the Chicago Union National Bank caused Inoro excitement have to-day than we have had during the plante. The Union National is carrying WAN Iowa money on deposit far our banle (11/11) all other outside banks combined. Dusinots at our banks continues good. Deposits under the rule overrunning amounts paid out. INONTON, o. Special Dispatch (o The Clienga Trillions IRONTON, o, Sept. 20.-The. Poard of Trade and business mon of Ironton hill u meeting to-night, at which resolutions were Rdopted and confidente faith full expressing

2. October 9, 1873 Iowa Voter Knoxville, IA
Article from Iowa Voter, October 9, 1873

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body known as the "People's Party;" repudiates party fealty as a tyrannical rule, sinking the citizen to a servile partisan; condemning the system of using money corruptly in elections; condemning all political rings and cliques formed to control elections; pledging the party to civil-service reform and to resist all Credit-Mobilier contracts with finance companies; denounces the present system of the distribution of lands and grants of lands to railway and other corporations; opposes all kinds of subsidy by Federal, State, county or municipal governments; opposes the present tariffs; favors taxing solvent debts; favors the eight-hour law; opposed to Chinese immigration, and also opposed to the election of the President for more than one term of four years. The last resolution indorses the stand taken by Governor Booth in behalf of popular rights against the encroachments of politicians and railway corporations. A dispatch from Denver, Col., states that over two-thirds of the mining town of Fairplay, Col., had been consumed on the 26th. All the stores, printing offices, the United States land office, post office, express office, hotels and other business places, with two or three exceptions, had been utterly destroyed. The Right Rev. Geo. M. Randall, Episcopal Bishop of Colorado, New Mexico and Wyoming, died at Denver, Colorado, on the 28th, of typhoid pneumonia. The Third National Bank, of Chicago, closed its doors on the 27th. The Cook County National, one of the suspended banks of that city, had announced its resumption. The Manufacturers' and Second National banks had decided to go into liquidation. The Union National, the first of the Chicago banks that closed its doors, had announced its assets at $5,600,000, and its liabilities at $4,300,000, and given notice of its speedy resumption of business. The Clearing-House Association met on the evening of the 27th, and after an animated discussion resolved not to issue Clearing-House certificates. A dispatch from St. Louis of the 27th says that the rear wall of the five-story warehouse, on the corner of Second and Chestnut streets, had fallen, opening a gap in the building fifty feet wide from the ground to the roof. One man had been killed and two seriously injured. In Chicago, on the 29th, business had resumed very nearly its normal condition. Three of the suspended banks had resumed business and were receiving deposits and paying out on checks as before the panic. Over $3,000,000 currency had been received during the preceding forty-eight hours. Traffic had fallen off on the various lines of railroad, and a large number of trains had been drawn off, and many men discharged. A St. Louis dispatch of the 29th says that while Joseph H. Fore, who attempted to kill his wife, on the 4th of June last, was being tried in that city on the 29th for that offense, he threw a heavy cut glass inkstand at his wife as she was giving in her testimony. The missile missed her, but struck her counsel full in the forehead, inflicting an ugly and dangerous wound. At a late hour on the night of the 29th the Union National Bank of Chicago, which had resumed business on that morning, and during the day had paid out $400,000, decided to go into liquidation, under the provisions of Sec. 42 of the National Currency Act. A call has been issued for a Northwestern Farmers' Convention, to meet at Chicago on the 22d of October, to consist of delegates from Granges and farmers' organizations. In Chicago, on the 30th, matters had very nearly resumed their normal condition, so far as the banks were concerned. The effect of the late panic was just beginning to be felt by merchants and traders. Trade was unmistakably dull and collections difficult to be made. A Madison, Wisconsin, dispatch of the 1st announces that the Bank of Madison had failed. A dispatch from Springfield, III., of the 1st, says the Leland House of that city had been damaged by fire to the extent of $10,000.

3. October 9, 1873 Wood County Reporter Wisconsin Rapids, WI
Article from Wood County Reporter, October 9, 1873

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in the forehead, inflicting an ugly and dangerous wound. A telegram from Shreveport, La., of the 29th says that within the last four days several of the most prominent and useful citizens of that city had fallen victims to the epidemic. The dispatch adds: "The population has been fearfully thinned out by sickness and death. We no longer have funerals. The hearses, followed by one or two carriages, dash through the streets like a section of artillery in a battle seeking a position. A few men are drummed up, the coffins shoved into the hearse, and driven rapidly to the cemetery. This is the case even with the most prominent citizens. The Howards have opened an orphan asylum, and are feeding about two-thirds of the resident population. There are fewer deaths and new cases, because there are fewer people.' A dispatch from Marshall, Texas, of the 30th, says that the yellow fever had made its appearance in that place. New York telegrams of the 30th say that the day had passed more satisfactorily than the most sanguine had dared to hope. The Stock Board had opened and business was moving along swimmingly. There had been no defaulting in the matter of settlements, and there appeared not a ripple of excitement in any direction. Greenbacks had appeared on the street in largely increased quantities, and the premium upon them wiped out. A sharp advance in foreign exchange had been effected, crops were once more in motion, and the banks were all working along without trouble. Gold closed at 1111/2. Henry J. Brooks, leather merchant, had suspended. A Washington dispatch of the 30th says that it is the expectation of the Treasury Department that the importation of sovereigns from England will reach $40,000,000. A large depositor with Jay Cooke & Co. had commenced proceedings in bankruptcy against the Washington branch of that concern. The official statement shows that the total amount of United States currency outstanding on the 30th was $402,923,039. In Chicago, on the 30th, matters had very nearly resumed their normal condition, so far as the anks were concerned. The effect of the late panic was just beginning to be felt by merchants and traders. Trade was unmistakably dull and collections difficult to be made. According to Eastern dispatches of the 1st, business in all financial centers had fallen into its old channels. The supply of currency had become nearly equal to the demand; there was a demand for stocks, principally in small lots, for investment; foreign exchange had still further advanced, and the feeling was generally one of safety and security. The dry goods house of Paton & Co., of New York, had suspended. Currency in New York commanded a premium of 21/2 to 31/2 per cent. over certified checks. A Madison, Wisconsin, dispatch of the 1t announces that the Bank of Madison had failed. A dispatch from Jersey City, N. J., says that the Cummings Car Co., of that City, had suspended. A dispatch from Springfield, Ill., of the 1st says the Leland House of that city had been damaged by fire to the extent of $10,000. Washington dispatches of the 1st say the Attorney-General had no official information regarding complications in Mississippi, but anticipated a repetition of the contest in Louisiana. While taking no part in the controversy between the Ames and Alcorn party, he was assured that the result must be either the establishment of two factions, each claiming to be the State Government, between which Congress and the General Government would be obliged to decide, or the continuance of a State Government beyond the time for which it is elected, and such continuance involves the election of members of Congress and other similar questions, upon which the Government would finally be obliged to pass. The public debt statement for October is as follows: Six per cent. bonds $1,235,000,200 488,567,300 Five per cent. bonds Total coin bonds $1,723,567,500 Lawful money debt $14,678,000 Matured debt 15,756,130 Legal tender notes 356,079,742 Certificates of deposit 11,250,000 46,229,391 Fractional currency Coin certificates 3,393,545 Total without interest 477,494,534 Total debt 2,201,496,164 Total interest 32.083.523

4. October 10, 1873 Dodgeville Chronicle Dodgeville, WI
Article from Dodgeville Chronicle, October 10, 1873

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THE NEW WORLD. A dispatch from Marshall, Texas, of the 30th says that the yellow fever had made its appearance in that place. New York telegrams of the 30th say that the day had passed more satisfactorily than the most sanguine had dared to hope. The Stock Board had opened and business was moving along swimmingly. There had been no defaulting in the matter of settlements, and there appeared not a ripple of excitement in any direction. Greenbacks had appeared on the street in largely increased quantities, and the premium upon them wiped out. A sharp advance in foreign exhad been crops were once in and the were change more motion, effected, banks all working along without trouble. Gold closed at 1111/2. Henry J. Brooks, leather merchant, had suspended. A Washington dispatch of the 30th says that it is the expectation of the Treasury Department that the importation of sovereigns will reach large with Jay Cooke comfrom depositor England $40,000,000. & Co. had A menced proceedings in bankruptcy against the Washington branch of that concern. The official statement shows that the total amount of United States currency outstanding on the 30th was $402,923,039. In Chicago, on the 30th, matters had very nearly resumed their normal condition, so far as the banks were concerned. The effect of the late panic was just beginning to be felt by merchants and traders. Trade was unmistakably dull and collections difficult to be made. A telegram from Boston of the 29th an nounces the death of Admiral Winslow, of the United States Navy. According to Eastern dispatches of the 1st, business in all financial centers had fallen into its old channels. The supply of currency had become nearly equal to the demand; there was a demand for stocks, principally in small lots for investment; foreign exchange had still further advanced, and the feeling was generally one of safety and security. The dry goods house of Paton & Co., of New York, had suspended. Currency in New York commanded a premium of from 21/2 to 31/2 per cent over certified checks. A Madison (Wis.) dispatch of the 1st announces that the Bank of Madison had failed. A dispatch from Jersey City, N. J., says that the Cummings Car Co., of that city, had suspended. The New York State Democratic Convention met at Utica on the 1st. Horatio Seymour was elected President. Mr.Seymour delivered an address urging the nomination of men of the highest character and undoubted capacity, and advising the Democrats and Liberal Republicans to unite in the coming election. The Committee on Credentials gave seats to delegates from the Tammany organization, whereupo# the Apollo Hall delegation, after with-

5. October 10, 1873 Perrysburg Journal Perrysburg, OH
Article from Perrysburg Journal, October 10, 1873

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generally one of safety and security. The dry goods house - of Paton & Co., of New York, had suspended. Currency in New York commanded a premium of from 21/1 to 31/2 per cent over certified checks. A Madison (Wis.) dispatch of the 1st announces that the Bank of Madison had failed. A dispatch from Jersey City, N. J., says that the Cummings Car Co., of that city, had suspended. The New York State Democratic Convention met at Utica on the 1st. Horatio Seymour was elected President. Mr.Seymour delivered an address urging the nomination of men of the highest character and undoubted capacity, and advising the Democrats and Liberal Republicans to unite in the coming election. The Committee on Credentials gave seats to delegates from the Tammany organization, whereupon the Apollo Hall delegation, after withdrawing, met, adopted a vigorous protest and then separated. The Democratic Convention then adjourned until the following day. A dispatch from Springfield, Ill., of the 1st, says the Leland House of that city had been damaged by fire to the extent of $10,000. Washington dispatches of the 1st say the Attorney-General had no official information regarding complications in Mississippi, but anticipated a repetition of the contest in Louisiana. While taking no partin the controversy between the Ames and Alcorn party, he was assured that the result must be either the establishment of two factions, each claiming to be the State Government, between which Congress and the General Government would be obliged to decide, or the continuance of a State Government beyond the time for which it is elected, and such continuance involves the election of members of Congress and other similar questions, upon which the Government would finally be obliged to pass. The public debt statement for October is as

6. October 16, 1873 The Redwood Gazette Redwood Falls, MN
Article from The Redwood Gazette, October 16, 1873

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The West. In Chicago, on the 30th, matters had very nearly resumed their normal condition, 60 far as the banks were concerned. The effect of the late panic was just beginning to be felt by merchants and traders. Trade was unmistakably dull and collections difficult to be made. A Madison, Wisconsin, dispatch of the 1s announces that the Bank of Madison had failed. A dispatch from Springfield, III., of the°1st, says the Leland House of that city had been damaged by fire to the extent of $10,000. A dispatch from Lansing, Mich., says the corner-stone of the New State Capitol of Michigan had been laid on that day, with appropriate ceremonies. Addresses were made by Hon. Wm. A. Howard and Gov. Bagley. On the 3d, business in Chicago had nearly recovered its wonted aspect. Banks were receiving and paying out currency freely, and the paper that fell due was generally met. Country collections were said to be favorable, and the indications were that the money stringency had very nearly passed. Manufacturing establishments had generally reduced the hours of labor or reduced the wages of labor, and few men, comparatively, had been discharged. A dispatch from Dubuque, Iowa, says an examination just made into the affairs of the Merchants' National Bank of that city had shown that R. A. Babbage, the Cashier, had abstracted from the bank by means of false entries $267,289, and that the President, Mr. Sheffield, had abstracted $161, 977. Captain Jack and four of his companions were hung at Fort Klamath, Oregon, on the 3d. The late hour at which the dispatch was was received on the morning of the 4th prevented the publication of full particulars. The sentence of Slotuck and Barncho had been commuted to imprisonment for life on Alcatras Island, in San Francisco Harbor. A dispatch from Columbus, Ohio, of the 3d announced that Reckley's Bank, of that city, had suspended.

7. December 25, 1873 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, December 25, 1873

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FINANCIAL. Investigation of the Affairs of the Bank of Madison, Wis. Special Dispatch to The Chicago Tribune. MADISON, Wis., Dec. 24.-The Democrat of this city begins the publication to-night to documents in regard to the Bank of Madison, which went into bankruptcy during the September panic, showing that it had been gravely mismanaged. The funds of the depositors, it is alleged, W ero obtained on false protences, the capital stock never having been paid up, and the institution, by means of injudicious loans and bad investments, having been really bankrupt for years. It is expected to pay creditors a dividend of 15 per cout in January, Suite will be brought with a view of recovering from parties who have had the funds of the bank in their possession.

8. December 26, 1873 River Falls Journal River Falls, WI
Article from River Falls Journal, December 26, 1873

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# The West GEORGE SMITH, county treasurer at Leavenworth, is a defaulter in the sum of $70,000, and has made an assignment of his property to his bondsmen. A FAMILY of movers, consisting of a man, his wife and child, passed through Little Rock recently, bound for Texas. About seven miles out, coming to a small stream which was swollen by the recent rains, they were advised to deviate from the main road and go to a crossing above, which was unfrequented. At this point the entire family were murdered and their bodies thrown into the stream. The body of the man and his wife were discovered on last Sunday. The victims were strangers. THE United States Supreme Court, Monday, decided in the case of the Union Pacific Railroad against the Treasurer of Lincoln county, Nebraska, that the state had a right to tax the property of roads passing through it, independently of the United States. THE bar of Leavenworth and Douglas counties, Kansas, held a meeting at Leavenworth, Monday, and requested the President to defer appointing Judge Delahay's successor until after a meeting of the State Bar Association. DETROIT detectives are looking after a man named Lawrence at New York, who is alleged to be the person who induced Eber B. Ward, of Detroit, to invest $265,000 in a silver mine in Utah, which had been previously "salted," and was absolutely worthless. THE officers of the suspended Bank of Madison, at Madison, Wis., are soon to be brought to trial, on a charge of humbuggery and swindling claimed to be without a parallel in the banking business of the country. The legal fraternity in whose hands the matter has been placed have attempted to suppress facts, but enough has leaked out to warrant the above assertion.

9. January 3, 1874 The Superior Times Superior, WI
Article from The Superior Times, January 3, 1874

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The West GEORGE SMITH, county treasurer at Leavenworth, is a defaulter in the sum of $70,000, and has made an assignment of his property to his bondsmen. A FAMILY of movers, consisting of a man, his wife and child, passed through Little Rock recently, bound for Texas. About seven miles out, coming to a small stream which was swollen by the recent rains, they were advised to deviate from the main road and go to a crossing above, which was unfrequented. At this point the entire family were murdered and their bodies thrown into the stream. The body of the man and his wife were discovered on last Sunday. The victims were strangers. THE United States Supreme Court, Monday, decided in the case of the Union Pacific Railroad against the Treasurer of Lincoln county, Nebraska, that the state had a right to tax the property of roads passing through it, independently of the United States. THE bar of Leavenworth and Douglas counties, Kansas, held a meeting at Leavenworth, Monday, and requested the President to defer appointing Judge Delahay's successor until after a meeting of the State Bar Association. DETROIT detectives are looking after a man named Lawrence at New York, who is alleged to be the person who induced Eber B. Ward, of Detroit, to invest $265,000 in a silver mine in Utah, which had been previously "salted," and was absolutely worthless. THE officers of the suspended Bank of Madison, at Madison, Wis., are soon to be brought to trial, on a charge ol humbuggery and swindling claimed to be without a parallel in the banking business of the country. The legal fraternity in whose bands the matter has been placed have attempted to suppress facts, but enough has leaked out to warrant the above assertion.

10. September 21, 1875 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, September 21, 1875

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THE WISCONSIN CAMPAIGN. MADISON NEWSPAPERS AT WAB. Special Diepatch to The Chicago Tribune. MADISON, Wis., Sept. 20.-The political war waxes warm in this State, though thue far mainly confined to newspapers. In reply to an elaborato articlo in the Democrat, reiterating that the State was short $10,000 on account of funds deposited by Major Baetz, State Treasurer, in the Bank of Madison in 1873, the Journal publishes an article to-night showing that Treasurer Baetz drew his check on said bank for $10,000 Sopt. 22. He was requested to, and did, pass that check to the account of the fund of the State Hospital for the Insane, whose appropriation was soon to fall due; that Mr. Miles. Treasurer of the Institution, took the check and receipted to the President of the Bank therefor, and on Oct. 1, the day the announcement of the suspension of the bank Was made, the Secretary of State drew his warrant on the State Treasurer for $13,496.75, including the aforesaid $10,000, and on Oct. 3, two days after the bank closed, Gen. Miles, as Treasurer of the Hospital, gavo his receipt to the State Treasurer for the full Billin, a copy of which, certified by the present State Treasuror, Knelin, is published, and it also appears that payments were duly made by Treasurer Miles on hospital account from the above sum. BO that neither the State nor Hospital has lost anything. If Mr. Miles wants to plead technicalities of law for his own benefit. in return for the favor shown him and the bank with which be was identitied. it is wholly a private matter. On the other hand, it appears that $10,000 deposited by the State-Prison Warden in Hopkins' rotten bank at Waupun is claimed by the Democratic papers to be a State deposit, and that the State must lose it. Figures are also given showing that the claim of decreased expense in running the State Government under Reform rule 18 unfounded, and that there is 5 considerable difference in favor of Republican management, several items having been increased by the present Administration.

11. April 13, 1877 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, April 13, 1877

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EXONERATION Maj. Baetz, Ex-State Treasurer of Wiscon sin, Comes Off with Flying Colors. Special Dispatch to The Triduna MADISON, Wis., April 12. -The Circuit Court of Dane County has been engaged yesterday and to. day on a sult brought by Attorney. General Bload In behalf of the State against Maj. Henry Bactz, ex-State Treasurer, and his bondamen, to recover $10,000, which it has been claimed he was liable to rufund to the State, be having. in 1873, given his check on the Bank of Madison to B. Mills, then Treasurer of the Wisconsin State Hospital for the Insane at Madison, for $10,000, that amount being due that Institution. just before the failure of that bank. The Court Judge Alva Stewart presiding, after hearing all testimony In the case, granted a non-suil, com. pletely and fully exonerating Msj. Hacts from all liability. The Court further decides that the State had suffered no loss whatever, and that Ma). Bacts had discharged all his obligations as State Treasurer, and, further, If any loss was to be borne on account of the failure of the Bank of Madison, It was surely not the fault of Maj. Bacts. BUT was he in any manner responsible for it. During the last Gubernatorial campaign, when Maj. Bacts was runuing as candle date on the Republican ticket as State Treasurer, this matter was made the subject of criticism upon him to a large extent by his political opponents, and It is a matter of profound satisfaction to the Major's numerous friends, and also to the public, that the judicial investigation leaves his high official character without a stain. Attor ney-General Sloan applied for B stay of proceed. luys on the judgment, by which It is Inferred sait will be appealed to the Supreme Court of the blate for further trial.