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Speaking of the Farmers' Bank of Chicago, recently suspended, the St. Louis Inte'. says:-This concern has been calling in its bills for several months past with the intention of closing, and has probably sufficient stocks deposited with the Auditor to redeem all its notes now out."
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Speaking ofthe Farmers' Bank of Chicago, recently suspended, the St. Louis Inte'. says:-This concern has been calling in its bills for several months past with the intention of closing, and has probably sufficient stocks deposited with the Auditor to redeem all its notes now out."
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According to our last advices, the panic was to some extent abating. In Ohio, the Secretary of State advertises to take the notes of the suspended State Stock Banks on Taxes and all other public dues, as the State has ample security in Stocks deposited. The following banks have suspended payments since we published a list: City Bank of Chicago; Merchants & Mechanics Bank, Chicago; Farmers Bank, Chicago; Phoenix Bank, Chicago; Union Bank, Chicago; And as a consequence, two wild cat concerns from Georgia, but owned in Chicago: The Milledgeville Bank, Georgia; The Cherokee Bank & Ins. Co., Georgia; And the following Banks, located in other parts of the State of Illinois: Belvidere Bank; Bank of Rockford; Bank of Naperville; Bank of Ottawa; Du Page County Bank; Rock Island Bank; Rock River Bank, Beloit, Wis. These are mostly sma 1 institutions, with small circulation, and no necessity exists for a very deep shave upon their paper. The Brokers and Bankers of St. Louis have published a card agreeing to receive the notes of all the Illinois banks which have not 5113pended, at their face, and expressing confidence in the soundness and ultimate safety of the Free Banks of that State.
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NEWS OF THE WEEK. The Western Banks. The Cincinnati Commercial states that, in consequence of the pressure, the City Bank of Columbus, Ohio, has been forced to suspend payments of its deposites. The notes of the Bank of Kanawha sold at 25 per cent. discount; Bank of Circleville, at 50; Kentucky Trust Company, at 70; and Newport Safety Fund, at 80. The notes of the Clinton Bank of Columbus were again refused at Cincinnati on Saturday. Indiana stock notes are selling at 25 to 30c. discount. A note from the Treasurer of the State of Ohio states that the notes of the Miami Valley Bank, Canal Bank of Cleveland, Savings Bank of Cincinnati, City Bank of Columbus, and all other Ohio Stock Banks, will be received for taxes and all other public dues, as heretofore. These notes are abundantly secured by the pledge of Ohio and United States stock in the offices of the Auditor and Treasurer of State, which stocks are still commanding a premium in New York. No bill-holder, he adds, need necessarily lose anything by Ohio stock paper. For the sake of keeping our readers posted, we extract the following list of suspended Western banks, from Thompson's Reporter, of Nov. 18: The Union Bank, Chicago, Ill.; the Bank of Napierville, Napierville, Ill.; the City Bank of Chicago, III.; the Merchants and Mechanics' Bank, of Chicago, Ill.; and the Farmers' Bank of Chicago, are said to have failed; also, the Mechanics and Traders' Branch of the State Bank of Ohio, Cincinnati, Ohio; the Sandnsky City Bank, Ohio; the Farmers' Joint Stock Banking Company, Toronto, Canada; the Bank of Circleville, Ohio; the Exchange Bank, Buffalo, N. Y.; the Canal Bank, Cleveland, Ohio; the City Bank of Columbus, Ohio. Seven more Indiana Banks are under protest, viz: Wayne Bank, Logansport; State Stock Bank of Indiana, Peru; Upper Wabash Bank, Wabash; Perry County Bank, Cannelton; Steuben County Bank, Angola; Traders' Bank, Terre Haute; Great Western Bank, Terre Haute. It is proper to add that a number of merchants of the city of Chicago, Illinois, have agreed to receive at par the bills of the banks of that city, which has had a good effect, but the excitement nevertheless continues, as the holders want specie, not goods, for their bills. The Union Bank of Chicago was owned by Forrest Brothers, and the City Bank, owned by Bradley, Curtis, & Co. The failure of the Mechanics' and Traders' Bank of Cincinnati is not of much importance. It has been in process of closing its business for some time past, under the supervision of the board of control. Its capital in August last was only $60,000, and its circulation $47,339. The deposits and circulation are paid without interruption.
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bas Latest Banks Failed. The Bank of Circleville, Ohio, is said to have failed-also The Farmers' Bank, of Chicago, Ill. The Exchange Bank, Buffalo, N. Y. The Canal Bank, Cleveland, Ohio. The City Bank of Columbus, Ohio, suspended this morning. The Woodbury Bank, Woodbury, Con nec:icut, thrown out at the Suffolk Bank Seven more Indiana Banks under protest, viz: Wayne Bank, Logansport; State Stock Bank of Indiana, Peru; Upper Wabash Bank, Wabash; Perry county Bank, Cannelton; Steuben county Bank, Angola; Traders Bank, Terre Haute; Great Western Bank, Terre Haute, Look out for more soor!-Dye's Bank Mirror, Nov. 15th, 1854.
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ILLINOIS BANKS.-The Telegraph announces, every day or two, the suspension of some of the Banks of Illinois. One list which is before us embraces the following Banks: City Bank of Chicago; Merchants' and Mechanics' Bank, Chicago; Farmers' Bank, Chicago; Phoenix Bank, Chicago; Union Bank, Chicago. And, as a consequence of these failures, two wild-cat concerns from Georgia, but owned in Chicago : The Milledgeville Bank, Georgia, and the Cherokee Bank and Insurance Company, Georgia. Add to these the following Banks, located in other parts of the State: Belvidere Bank, Bank of Rockford, Bank of Naperville, Bank of Ottawa, Du Page County Bank, Rock Island Bank, and Rock River Bank, Beloit, Wisconsin. This is, we believe, the extent of the bank suspensions in Illinois ; and when it is recollected that the most of them are, in familiar phrase, "one-horse affairs," having capitals perhaps of $50,000 and a circulation of $30,000 or $40,000 each, scattered all over the State, it is somewhat surprising that even the excitable people of Chicago should make 80 much ado about it. It is not pretended that the banks, if let alone, will not redeem their paper. Our own bankers, we are glad to see, are pursuing a very proper course. They are receiving on deposite from their customers the notes of all the Free Banks of Illinois not known to be discredited in that State. They take this responsibility, we presume, believing that the banks are, as a general thing, sound. The Bank Commissioners at Springfield and Chicago have each made publication, assuring the public of the safety of the bill-holders.-St. Louis Republican.
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ILLINOIS BANKS.-The St. Louis Republican gives the following as a list of Illinois Banks which have suspended payment, and are therfore discredited: City Bank of Chicago. Merchants' and Mechanies' Bank, Chicago. Farmers' Bank, Chicago. Phoenix Bank, Chicago. Union Bank, Chicago. And, as a consequence of these failnres, two wild catconcerns fromGeorgia, but owned in Chicaco: The Milledgerille Bank, Georgia, and The Cherokee Bank and Ins. Co., Georgia. Add to these the following Banks, located in other parts of the State: Belvidere Bank; Bank of Rockford; Bank of Napierville; Bank of Ottawa; Du Page county Bank; Rock Island Bank, and Rock River Bank, Beloit, Wisconsin. The Republican remarks: "One of these Banks-the Farmers' Bank of Chicago, has been calling in its paper for three months past with a view to the closing of the concern, and there is very little in circulation. The Auditor of the State of Illinois has published a notice stating that all the circulation of this Bank will be redeemed at his office in Springfield, pro rata, out of the trust funds deposited by the Bank. The stocks pledged for the payment of this circulation will be converted into specie funds, as required by law, at as early days as practicable, when further notice will be given."
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From Thompson's Reporter, February 17. BROKEN AND SUSPENDED BANKS. PRESENT VALUE. 95 cents Canal Bank, Cleveland, Ohio, 95 cents City Bank of Columbus Ohio, 65 cents Bank of Circleville Ohio, 80 cents Merchants' Bank, of Bridgeton, N. J. 80 cents Wheat Growers' Bank, Newtown, N. J. Government Stock Bank, at Ann Arbour, Mich40 cents igan, 25 cents Bank of Washtenaw, Michigan, 25 cents Erie & Kalamazoo R. R. Bank, Michigan, Farmers' & Mechanics' Bank of Kent County 65 cents Maryland - cents Newport Safety Fund Bank, Kentucky, 50 cents Stark Bank, Vermont, 25 cents Cochituate Bank, Boston, Mass. 93 cents Eighth Avenue Bank, New York City, 10 cents Lewis County Bank, Martinsburgh, N. Y. 75 cents Union Bank, Chicago, Illinois, 75 cents City Bank, Chicago, Illinois, Mechanics' and Farmers' Bank, Springfield, 75 cents Illinois, 75 cents Farmers' Bank, Chicago, Illi nois, - cents Ship Builders' Bank, Maine, 90 cents Trans-Alleghany Bank, Virginia, - cents Bank of Milford, Delaware, Exchange Bank of Selden, Withers & Co. 50 cents Washington,
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Illinois SUSPENDED Banks.-The Chicago Democratic Press of the 20th, *peaking of the Illinois banks, says: The banks that have gone into liqnidation are the Union Bank, City Bank, Farmers' Bank and Phoenix Bank, all of Chicago, and the Merchants' and Farmers' Bank, of Sprinfield.
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IMANOIS SUSPENDED BANKS.-The State Auditor of Illinois has given notice that, pursuant to an act of the Legislature atjits session just closed, he is ready to receive the notes of such banks as have gone into liquidation in exchange, at par, for the securities deposited with him by such banks, provided the notes shall be presented within the next sixteen days. After the expiration of that time the securities.will be offered for sale in New York, and the proceeds applied, pro rata, to the redemption of the notes. The banks that have suspended are the Union Bank, City Bank, Formers' Bank, and the Phoenix Bank, all of Chicago, and the Mechanics' and Farmers' bank of Springfield,
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Some mathematician has calculated that the war costs the Allies $300 a minute. # BROKEN AND SUSPENDED BANKS. PRESENT VALUE. Canal Bank, Cleveland, Ohio, 95 cents City Bank of Columbus Ohio, 95 cents Bank of Circleville Ohio, 65 cents Merchants' Bank, of Bridgeton, N. J. 80 cents Wheat Growers' Bank, Newtown, N. J. 80 cents Government Stock Bank, at Ann Arbour, Mich-igan, 40 cents Bank of Washtenaw, Michigan, 25 cents Erie & Kalamazoo R. R. Bank, Michigan, 25 cents Farmers & Mechanics' Bank of Kent County Maryland 65 cents Newport Safety Fund Bank, Kentucky, — cents Stark Bank, Vernont, 50 cents Cochituate Bank, Boston, Mass. 25 cents Eighth Avenue Bank, New York City, 93 cents Lewis County Bank, Martinsburgh, N. Y. 10 cents Union Bank, Chicago, Illinois, 75 cents City Bank, Chicago, Illinois, 75 cents Mechanics' and Farmers' Bank, Springfield, Illinois, 75 cents Farmers' Bank, Chicago, Illinois, 75 cents Ship Builders' Bank, Maine, — cents Trans-Alleghany Bank, Virginia, 90 cents Bank of Milford, Delaware, — cents Exchange Bank of Selden, Withers & Co. Washington, 50 cents
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ILLINOIS SUSPENDED BANKS AT PAR -The Auditor of State has published the following notice, relative to the redemp. tion of the Illinois State Banks that have gone into liquidation. AUDITOR'S OFFICE, ILL Springfield, Apr. 4 1855 To the holders of Notes of Banks that are now in liquidation: I am now prepared to redeem the cir culating notes of the banks that are in liquidation, at par, viz. The Farmer's Bank. the Phonix Bank, the Union Bank. and the City Bank, situated at Chicag and the Mechanic's and Farmea's Bank, at Springfield, III. THOS. H. CAMPBELL, Auditor.
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Illinois. Par ALTON Bank, Alton " BANK OF AMERICA, Chicago " BANK OF ELGIN, Elgin " BANK OF GALENA, Galena " BANK OF LUCAS & SIMONDS, Springfield (F) " BANK OF NAPIERVILLE, Napierville (F) " BANK OF NORTHERN ILLINOIS, Waukegon (F) 1c BANK OF Ottawa, Ottawa (F) Par BANK OF PERU 10c BANK OF ROCKFORD, Rockford (F) Par BELVIDERE BANK, Belvidere (F) " BELLVILLE Bank, Belvidere " CENTRAL Bank, Peoria (F) " CHICAGO BANK, Chicago (F) 10c CITY Bank, Chicago Par CLARK'S EXCHANGE Bank, Springfield (F) " DARIEN STOCK BANK, (F) 10c Du PAGE COUNTY Bank, Napierville. Par SOUTHERN BANK OF ILLINOIS, Belleville " STATE BANK OF ILLINOIS, Shawneetown " STOCK SECURITY Bank, Danville 10c UNION Bank, Chicago EXCHANGE BANK of H. A. Tucker & Co., Chicago Par 10c FARMERS' Bank, Chicago IF Failed November 8, 1854. Par FARMERS' & TRADERS' BANK, Charleston " MARINE BANK OF CHICAGO " McLEAN COUNTY Bank, Rloomington 10c MECHS. & FARMERS' Bank, Sp ingfield IT Suspended, November27, 1854. Par MERCHANTS' & DROVERS' BANK, Joliet " MERCHANTS' & MECH. Bank, Chicago " NATIONAL Bank, Equality " PEOPLE'S Bank, Carmi 10c PHONIX BANK, Chicago Par QUINCY CITY Bank, Quincy " Railroad Bank, Decatur : ROCK ISLAND Bank, Rock Island