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IN ILLINOIS. EXCITEMENT IN CHICAGO-FIVE BANK INSTITUTIONS. SUSPENSIONS -CONDITION OF THE CLOSED TELEGRAPH TO THE TRIBUNE.] [BY Sept. 26.-The excitement exceeded in finan- anyCHICAGO, in this city to-day certainly before, unless cial matters kind that ever occurred here after the thing of the the utter confusion of the first few days the Union it was The suspension of business at confidence great fire. Bank to-day gave greater shock to West, than National this city but throughout the since the not only in incident that has happened but that any other of the panic. There is no question at least two beginning the circumstance that determined to-day this was banks that have suspended susof the four the other same course. They saw that business the rela to adopt of the Union, with its extended effects that none pension have such far-reaching could extions, would that are peculiarly situated banks that but banks weather the storm. The five of it by pect to business and gave evidences at the stopped the general not going to Union, Cook clearings County, ManuClearing-house were the Commerce, and Second National, Bank of Bank had facturers' week ago the Union National These National. A the aggregate amount of $6,300,000. in the deposits to reduced by the run of their depositors which just have been aggregate of $4,400,000, of throughout last week one-half to an is due to the country banks hand when about North-West. The bank had on $100,000 the West and $600,000 in currency and it closed business about Chicago banks, beside $800,000 of New- had of checks on other The Cook County National of Bank $1,580,000. York exchange. a week ago to the aggregate amount During the deposits $800,000 was due to country banks. mainly in reof which days the bank has paid out currency, last mittances four business to country banksjust about of currency $500,000 had in been reand only stopped when and its stock the demand from its country duced to about $30,000, had been greatly increased on Wednesday Bank has and bank Thursday. customers The Manufacturers' before National the panic to reduced its deposits refused from $1,500,000 to go into the clearings to$900,000 because now, it and proposes it to settle with it its through own depositors another day possible instead of doing had $800,000 as fast as The National Bank of Commerce it has paid bank. week ago. Of this $500,000 due dedeposits last a four days $300,000, leaving on Thursday off in the when the bank closed business National positors condition of the Second or two evening. The present Its average deposit for a year $100.Bank is not known. about $700,000. It has a capital the city. of only The past has smallest been of any national bank in that were not foregoing 000, the five banks are the only ones to-day. in the general clearings represented these are the First National, the Commercial the Fifth Among the Corn Exchange National, Merchants' National, the North-Western National, the Tribune in its Savings National, Loan and Trust to-morrow: Company. The monetary The enormous article amount will Canada say of specie to this this country crisis has affords started in this the from England for and " a great currency unexpected revolution" blessing out opportunity would bring an a great calamcountry which appears to most people only an extra session of of ity. what Let now the President "repeal at the once Legal call Tenderact" contracted making Congress, and let it tender only for debts at once greenbacks to the a repeal. legal This would give not only us immediately place us the prior on a specie abundant basis, supply but it would of circulating $150,000,000 of medium gold and in silver the most nowprobably rate specie coin and bullion to this in this country to buy our cotton, have world. coming There is country. France At the must wheat, weeks and and is now corn, which England will probably and be only a few $250,000,000 cannot do without, have it an aggregate were stock repealed of before before we should If the Legal Tender the act country again by the this of specie. specie is driven out specie of would become the greenbacks basis of greenback circulation, of the United States. The out, and as prices in all parts notes cannot be driven made prior and National bank be legal tender for all circulate. debts they would still they would be obliged to to the repeal, National and the German National Banks their bal. apThe City the clearings to-day and settled considerapeared at their counters they are paying however, no who ances, but at of currency. All depositors, of their ble amounts their checks for the balance or have presented been satisfied with Eastern exchange. the Third accounts have equivalent. There was That a run lasted on until the something its city depositors. bank had $3,000,000 close National of business. from A few this days afternoon ago the considerably over deposits; by 3 o'clock had been paid off. The bank of has the a ruu large on $1,000,000 correspondence, of this and as to-day, the news it will leave little country it chance will inevitably for the bank reach to meet them the demands on it to-mor- stockrow. are a number of banks in this large city a proportion whose of holders There either OWD or control business 80 is more manageable not the deposit, that other their banks. These stockholders for, but they than that of many deposits remain uncalled in susgo around only let their to own other depositors and get their aid taining the banks. BANKS SUSPENDED IN CHICAGO. FIVE Sept. 26.-It is just announced and CHICAGO, Union National, Manufacturers' National, A notice that the National Banks have suspended. has abundthe Second of the former says that the bank payment on the door but it is compelled to suspend to realize. ant securities, of the lack of currency until able will be on Nothing account has been lost from failures, and depositors made M.-The safe. Cook County. the City National, and doors. the 3 P. Bank of Commerce have closed their Bank, National run of an hour on the Corn Exchange was a was paid the run soon as returned and There who but drew everything have deposited strong. stopped. their The money other Some considered very conerdNational again. The banks bank are 18 paying regularly. There 18
