bfab4e35None
Click image to open full size in new tab
WISCONSIN BANK FAILURES.-The Fox River Bank, located at Green Bay, failed. Its capital was $50,000, and its circulation, on the 1st of July last, $35,000, which was thus secured : Virginia 6's, $10,000; Tennessee 6's, $14,000; Missouri 6's, $3,000; specie, $3,000. Total, $27,000. We learn that the People's Bank of Milwaukee and the Badger State Bank of Wisconsin have suspended.
Click image to open full size in new tab
WISCONSIN BANK FAILURES.-The Fox River Bank, located at Green Bay, failed. It. capital was $50,000, and its circulation, on the first of July last was $25,000, which was thus secured: Virginia 6's, $10,000; Tennesee 6'm, $14,000; Missouri 6's, $3,000 specie, $3,000. Total, $27,000. We learn that the People's Bank of Milwaukee and the Badger State Bank of Wisconsin have suspended. We also learn of the suspension of two prominent Iowa. banking houses in Burlington, Our own banks stand firm and there was not the least disposition manifested to run upon any of them.-Chicago Tribune.
Click image to open full size in new tab
Edwin H. Grant, formerly of the Pella Gazette, is now one of the editors of the Geary City (Kansas) Era, a Free State paper. Lately he has been frequently and grossly insulted by J. D. Hen derson, editor of the Leavenworth Journal, evidently with the purpose of provoking a duel. At last Mr. Grant replied, in a and proper manner. Instantly a challenge was sent. Mr. Grant declines to fight, very justly informing his opponent that he considers dueling "an illegal, barbarousand disgraceful method of settling difficulties," and furthermore, with a wife and children depending upon him for support, he does not consider his life 80 entirely his own as to put it at the venture of the blackguard's bullet. FOREIGN ARRIVAL.-The City of Washington arrived at St. Johns the 26th. The cholera was raging fearfully at Hamburg, Stockholm, and elsewhere. The Bank of Holland had increased its interest to 5 per cent. All the German banks were expected to follow. The Indian mail had been received. Delhi had not fallen, but it was thought that it could not long hold out. There had been some new revolts, and the English troops were meeting with many successes. One of the bloodiest of the Seapoy commanders, who had massacred in cold blood 590 men, women and children, had been surrounded, whereupon be drowned himself and family to escape British vengeance. THE VACANT SENATORSHIP.- Campbell Gilmer, of Washington township, has been selected as the Republican candidate for Senator in this county in place of J. C. Walker, declined. He is an old resident, having lived here some twenty years, and is well known to all our old settlers as a man of intelligence and integrity. WISCONSIN BANK FAILURES.-The Fox River Bank, located at Green Bay, failed. Ite capital was $50,000. and its circulation, on the 1st of July last, $35,000, which was thus secured Virginia 6's, $10,000; Tennessee 6's, $14,000; Missouri 6's, $3,000; specie, $3,000. Total, $27,000. We learn that the People's Bank of Milwaukee and the Badger State Bank of Wisconsin have suspended. For the Daily Gate City, To the Voters of Lee, Van Burenand Henry Counties. FELLOW OITIZENS:-Having been placed in nomination for the office of Representative of the above named counties in the Legislature, and not having sufficient time before the election to visit all portions of the Distriet, I deem it my duty to lay before you in this form a brief statement of the principles I hold, and by which I shall be guided in the discharge of my official duties in the event of my election. I believe in the principles of the Republican party as set forth in the Philadelphia platform, and if elected 1 will support no man for United States Senator who is not pledged to maintain those principles. 1 believe with the fathers of the Republic, that slavery is "a great moral and political evil;" that it degrades labor and the free laborer that it contaminates and demoralizes society wherever it exists; that it encourages indolence and idleness, and fosters vice; that it paralyzes enterprise and prevents the general-diffusion of science and education; and, finally, that it is wrong and impolitic. But while these are my views on the subject of slavery as an abstract question, I do for a moment believe that the government has power to interfere with it in the States where it already exists. Politically, the people of Iowa have nothing to do with slavery in the slave States. Those States themselves must do with the institution as they will. And although 1 would rejoice to see every State in the Union freed from the curse of human bondage, I would never consent to an attempt on the part of the general government or the free States to abolish it without the consent of the slave States themselves.Such is the doctrine of the Republica party, everywhere procluimed. Therefore, the charge of abolitionism 80 often brought against that party is atterly false and without foundation in truth, and I cannot but believe that most of those who make this charge are aware of its falsehood. When, however, the question comes to us, whether our Territories should become free or slave States, the case is different. The question of slavery in the Territories is an original question; one which the whole peopie of the United States, through their representatives in Congress, must determine. It is true that the so-called Democratic party has of late endeavored to inaugurate a different doctrine from this. The effort to do so commenced with the repeal of that time-honored compact, the Missouri Compromise. For several years thereafter they proclaimed the doctrine of squatter sovereignty. They declared that Congress should not again interfere to any whether slavery should exist in the Territories or not, but that the people of the ferritories themselves should decide that question. This doctrine was new and in direct opposition to the settled practice of the country ever since the days of Washington, and to the former ac-
Click image to open full size in new tab
WISCONSIN BANK FAILURES.-The Fox River Bank, located at Green Bay, failed. Its capital was $50,000, and its circulation, on the 1st of July last, $35,000, which was thus secured : Virginia 6's, $10,000; Tennessee 6's, $14,000; Missouri 6's, $3,000; specie, $3,000. Total, $27,000. We learn that the People's Bank of Milwaukee and the Badger State Bank of Wisconsin have suspended.
Click image to open full size in new tab
Wisconsin Bank Failures. The Fox River Bank, located at Green Bay, failed. Its capital was $50,000, and its circulation, on the 1st of July last $25,000, which was thus secured: Virginia 6's, $10,000; Tennessee 6's, $14,000; Missouri 6's, $3,000; specie, $3,000. Total, 827,000. We learn that the People's Bank of Milwaukee and the Badger State Bank of Wisconsin have suspended. We also learn of the suspension of two prominent banking houses in Burlington, Iowa. Our own banks stand firm and there was not the least disposition manifested to run upon any of them.-Chicago Tribune.
Click image to open full size in new tab
PITTSDURG, Va., Oct. 1.-The old Bank of Pittsburg continues to pay specie on all its liabilities. CHARLESTON. S.C., Oct. 1.-The Presidents of our Banks held a meeting this morning, and resolved not to suspend. DETROIT, Oct. 1.-The run on the Peninsular Bank causes considerable excitement. Therun on the other banks was severe this morning. The run was principally by small holders. The banks redeem promptly, and are to all appearances strong. Sr. Louis, Oct. 1.-The Bank of Belleville, Ill., has failed. The banking honse of Moore, Hollenback, & Co., at Quincy, Ill., has suspended. On Monday, at the same place, there was a run on the banking house of Flagg & Savage, but they sustained themselves. BOSTON, Oct. 1.-A general meeting of the merchants is called for tomorrow at 11 'ciock, to consider, and if possible, to decide upon the best course for banks and business during the present financial emergency. The suspension of Lawrence, Stone, & Co., caused considerable excitement. John A. Lowell, also connected with the Pemberton Mills, is reported failed. Another failure announced, is that of Benjamin Howard, commission merchant on Central wharf. The Banks discounted some today, but not enough to ease the market. The best of paper was done in the street at 2 per cent a month. Little business was done at the brokers' board; no quality of stocks could command asking prices. Bank shares were down low, and no sales. NEW YORK, Oct. 1.-Money continued very tight throughout the day, the loan expansion of the banks having proved totally inadequate to relieve the pressure. The sub treasury up to noon, paid out upwards of half a million in gold, and it is believed that nearly a million will be furnished from the same source tomorrow. There was 8 very heavy decline in stocks at the first board today-the falling off ranging from 1 to 10 per cent, the latter figure being on Illinois Central bonds. Chicago and Rock Island fell 6 per cent The sales of State stocks were large, at a decline from 1 to 3 per cent. The Peoples' Bank of Milwaukie, the Badger State Bank, of Wisconsin, and the Fox River Bank at Green Bay, Wis., have suspended. Wm. H. Bartlett, Teller in the Southwestern Railroad Bank, Columbia, S. C., has absconded with $60,000. At the second board, stocks showed no improvement, and several declined still further.
Click image to open full size in new tab
BOSTON Sept 30, 1567. We, the undersigned, Presidents of the several banks herein named, do hereby agree to discount, on or before Monday. the 5th of Ostober proxim), ten per cent upon the capital of said banks, to be distributed among our cus. temers as the several Boards of Directors may determine:-Merchants', Massachusetts, New England, Hamilton, Boston, Suffolk, Granite, Washington, Faneuil Hall, stlas, Union, Traders', Market, North, Columbian, Eagle, Shoe and Leather, Bank of Commerce, State, Eliot, Web. ster, Broadway, North America, Maverios, City, Sha #mul, Exchange, Globe, Atlantic, Boylston, Howard, National, Trement. The Boston banks will pay out about one million of dollars in the shape of dividends on Monday next. The banks have declared about the usual rates for the past six months. The banks of Philadelphia show a great want of unanimity among themselves. They have not yet come to any satisfactory arrangement, and the greatest irregularity exists in all their operations. The St. Louis Intelligencer states that the country merchants of Missouri, Illinois and Iowa owe that city twenty millions of dollars; but they do not pay, alleging that they cannot collect of the farmers, many of whom owe on last year's account. One-fourth of this debt paid would make St. Louis one of the sastes) money markets in the country. Twenty dollar counterfeits on the Commercial Pank of Toronte are in circulation. They are altered from fours -nicely done, to be detected only by close examination. The plates have different vignettes. It is said that the Grand Trunk Rai!road of Canada has made arrangements to build the Lake Shore road, on the Canada side, to connect with the Michigan Southern at Monroe. The Chicago Democrat reports the suspension of the Peo ple's Bank, of Milwaukie, and the Badger State Bank, of Wisc nain, and adds that the banks in that city stand firm. Swit, Brothers & Johnson, bankers, of Chicago, have suspended. The Fox River Bank, at Grsen Bay, Wisconsin, capital $50,000 and circulation $25,000, secured by State stocks to the amount of $27,000, has suspended. The Philadelphia Press says that some of the merchants there are buying up their own paper at six per cent a month. The Directors of the Onelda Bank, at Ution, among whom is ex-Governor Seymour, Chas. A. Mann, T. 8. Faxton, Henry and David Wagner, state in a card that It has n surplus of sixty-nine thousand dollars, on a capital of $400,000.
Click image to open full size in new tab
THE NEWS. - Bogy, Miltenberger & Co., bankers, of St. Louis, closed their doors on the 29th. -Dispatches from the Eastern dities of the 29th represent the financial panie as on the increase. At a meeting of bank presidents in New York, it was agreed to recommend the city banks to extend their discount line three per cent. during the coming week. This, in the aggregate, will amount to over three million dollars. Forty out of the fiftyfive banks were represented at the meeting. The Governor of Pennsylvania, it is understood, will issue a proclamation convening the Legislature immediately, in order to legalize the non-payment of spocie by the banks. -Thos. Sergeant has been appointed Receiver in the Land Office at Fort Dodge, vioe Russell resigned. Jas. Barker, Receiver}at Chariton, Iowa, has sent in his resignation. -The banking house of E. I. Tinkham & Co, at Chicago, failed on the 29th. It is thought its assets are amply sufficient to meet its liabilities. -Messrs. Jewett & Co., publishers of Bos ton, have suspended. Their liabilities are $100,000. -Two of the private banking houses in St. Lonis-John J. Anderson, and Darby & Bankdale-failed on the 28th. Both these were large concerns, the former, it is supposed, holding deposits of nearly or quite a miilion of dollars. It is said they have been embarrassed by advances to Missonri railroads in course of construction. WISCONSIN BANK FAILURES.-The Badger State Bank, at Janesville, and the People's Bank of Milwaukee, closed their doors on the 26th. -The financial panic in the East continues. Most of the banks are adopting the non-specie payment policy. A New York dispatch of the 28th says: "The money market is very stringent, but the banks remain firm in their position. Some very heavy failures are reported." FOREIGN.- By the arrival of the steamer City of Washington at St. Johns. we have Liverpool dates to the 16th. The cholera is raging at Hamburg, Stockholm and other places, and it is proving fatal. The Indian mail had arrived. At Delhi on the 29th several sorties were repulsed with great loss to the rebels, and 500 British killed and wounded. Gen. Havelock, while marching upon Cawnpore, proceeded one hundred and twenty-six miles in four days, and fought four desperate battles against Neena Sahib, completely routing him. Neena Sahib's atrocities at Cawnpore beggar description Four hundred persons, including seventy women and one hundred and twenty children, were massacred in cold blood, in the court yard fronting Sahib's head-quartere. Sahib escapel, but subsequently drowned himself, together with his family. General Havelock, after re-occupying Cawnpore, burnt it. It was expected Delhi would soon fall.
Click image to open full size in new tab
From The Detroit Free Press, Sept. 30. The Fox River Bank, of Green Bay, Wis., has failed. Capital, $50,000; circulation on the 1st of July last, $25,000; securities, $10,000 Virginia 6s, $14.000 Tennessee 6e, $3,000 Missouri 63, $500 specie; total, $27,500. The Badger State Bank, of Javesville, Wis., sts. pended on Saturday. Circulation on the 1st of July last, $22,379; securities, $17,000 Missouri 68, $9,000 Tennessee 6s; total $26,000. The People's Bank, of Milwaukee, W's., close its doors on Saturday afternoon. Circulation, $19,907; securities, $20,000 Georgia 7s. $3.000 Virginia 63; total. $23,000. Total liabilities, $90,927 59. The President of the bank assures The Sentinel that the assets of the institution are amply sufficient to meet all its liabilities. The resources of the Rock River Bank, of Beloit, Wis., recently failed, are stated at $169,823 85, liabilities, $146,787 51. The Milwaukee Sentinel of Monday states that "at a meeting of the officers of our city banks, held on Saturday evening, it was decided to receive and pay out the bills of the suspended banks in this State, precisely as other currency." The Bank of Galena, Illinois, Traders' Bank Yo Indianapolis, Indiana, Union Bank of Frenchtown, N. J., and Bank of Greensborough, Georgia, have suspended. The Chicago Tribune of Monday saye: "We learn of the suspension of two pominent backing-houses in Burlington, Iowa. Our own banks stand firm, and there was not the least disposition manifested to run upon any of them." The Banks of Chambersburg, Honesdale and Middletown, Penneylvaria, are discredited at Pittsburgh.
Click image to open full size in new tab
Financial Matters. As the condition of the money market in New York and Philadelphia, regulates to a Considerable extent that of the balance of the country, the following condensed state. ment we clip from the New York Times of the 26th FRIDAY, Sept. 25-P. M. The business day in Wall street was'one of the most unsettled of the present panic season. The trouble, however, was mainly. if not wholly, a reflected one, creating at once a pause in all pending money negotiations, and unfixing public opinion as to the course and probable future bearings of the financial storm. The transactions at Bank went on satisfactorily, the exchanges through the Clearing House smoothly, and there were no additional failures, as far as we are advised, up to 4 o'clock, among our own merchants. The offerings at most of the large banks that held their discount ses sions this morning, denoted less pressure among their ordinary dealers than last week. At an early hour came the first news by telegraph of the Bank suspensions in Philadelphia, still leaving the extent and duration of the heavy trial which has fallen to that city in doubt. It was previously surmised in particular quarters, that the crash among the old domestic commission and job bing firms, whose heaviest sales are distribbuted to the most solvent States in the Southwest, from which no general complaint of backward collections had been heard could not have been produced without the agency of some important, though until today, hidden local cause of weakness. There were even confidential hints thrown out of Bank trouble by parties who had recently made direct inquiry on the subject but the public here were not prepared for the simultaneous explosion of the Bank of Pennsylvania, Girard Bank, and Commer cial Bank, with an aggregate capital of four millions of dollars, and it would be affectation to attempt to conceal the profound sen sation which the news created in a Street somewhat used of late to unpleasant excitements of the sort. It is not surprising, therefore, that the question as to the effect all over the country, should at once suggest itself, and that Stocks should have lost the whole improvement of the past day or two. under the doubt and apprehension as to its solution. The same feeling produced hesi tation in the purchase of mercantile bills outside of Bank though, happily, there was less eagerness to press sales, owing to the rather more quieting accounts which came this morning from the East. We make no change in the quotation of rates, as. when transactions were made at all. they were on prime bills at the currency of Thurs day, say 18a24 per cent. The Bank of Pennsylvania is an institution of sixty years' standing. It was the transfer agent and one of the treasury depositories of the Commonwealth. The capital $1,875,000. Until late years it was under Quaker management. It had its trou bles in the United States Bank panies of 1837 39-41, but rapidly recovered after 1833, when the Commonwealth resumed payment upon the public debt. The circulation was usually about $800.020. The Girard Bank had a capital of $1,250,000, reduced to thissum after the great break-up of the United States Bank, with which it was unfortunately connected in its Missis sippi, Texas and local Post Note operations, from 1837 to 1842. The circulation about $470.000. The Commercial Bank of Penn sylvania isan old institution. with $1,000,000 of capital; never had serious trouble before, and managed for a great many years with extreme prudence by Mr. James Dundas, who left about the year 1846 or 1847. The circulation $260,000. As a further indication of the market in New York, we copy the following paragraph: The Stock Market. which had shown eviden ces of reaction. and had brought forward some few speculative buyers, earlier in the week flattened out to-day, and closed under depres sion New York Central. 65$: Erie 16: Reading 374; Illinois Central, 89; New York Central, 54 Michigan Southern, 19: La Crosse, 8: Galena, 67; Toledo, 33; Virginias, 841 Missouri, 70: THE nois Central Bonds, 833: and New York Central Sixes, 741. On Saturday the Peoples' Bank of Mil waukee, and the Badger State Bank of Janesville suspended. Both these Banks will resume as soon as the pressure is over and have considerable assets over liabilities. The other W isconsin Banks which have