5989. Merchants Bank (Lafayette, IN)

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 3, 1854
Location: Lafayette, Indiana (40.417, -86.875)

Metadata

Model: gpt-5-mini
Short Digest: 781b0368

Response Measures

None

Description

Multiple contemporary newspapers (Nov 1854) report the Merchants' Bank of Lafayette suspended specie payment and its notes traded at ~50¢. No contemporaneous article describes an on‑street run; later (Jun 1855) the State Auditor ordered outstanding notes returned for cancellation and pro rata dividend, indicating the bank remained closed and its circulation was being wound up. Classified as suspension → closure (no documented depositor run).

Events (3)

1. November 3, 1854 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank suspended specie payments during the Free Banking crisis in Indiana; notes trading at heavy discount (about 50¢) suggesting insolvency or inability to redeem in specie.
Newspaper Excerpt: we learn from Layfayette, Ind., that the Merchants' Bank of that place has suspended payment. The notes are selling in the street at 50 cents the dollar.
Source: newspapers

2. November 17, 1854 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Additional contemporaneous report repeating suspension and deep discount of notes.
Newspaper Excerpt: A letter from Lafayette, Ind., states that the Merchants' Bank of that place has suspended payment. The notes are selling in the street at fifty cents in the dollar.
Source: newspapers

3. June 11, 1855 Other

Newspaper Excerpt: The State Treasurer of Indiana notifies holders of the circulating notes of the Merchants' Bank at Lafayette ... to return the same to the office for cancellation, on or before the 15th day of July next, that the outstanding circulation may be determined as accurately as possible, and a pro rata dividend thereon declared.
Source: newspapers

Newspaper Articles (12)

1. November 3, 1854 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, November 3, 1854

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From which it will be seen that the increase in receipts now amounts to 34,000 bales; the decrease in exports to Great Britain, 1,00; other foreign ports, 5,000; increase to France, 23,000. Total increase in exports, 17,000 bales. The Clearing House Exchanges were large to-day, $21,078,458. There was rather a more cheerful feeling in the Money market to-day, but the change was not very marked. The rates are as before noticed. Mr. Patchin, as we stated yesterday, has paid the money into Court for the Coupons of the 1st Mortgage Bonds of the Buffalo and New-York City Railroad, as the interest is advertised to be paid either at the Pratt Bank, Buffalo, or the Bank of Commerce, New-York. The latter institution will not be ready for & few days to pay coupons. We learn from Layfayette, Ind., that the Merchants' Bank of that place has suspended payment. The notes are selling in the street at 50 cents the dollar. The securities of this bank are all Indiana 58. The tolls collected in New-York City on the canals from commencement of navigation to Nov. 1, 1854, $301,461 35 are 40,380 38 Increase over last year The Penobscot Railroad advertised for sale at auction by A. C. Flagg, trustee, has been withdrawn. It is stated that the outstanding bonds have been retired, and the mortgage is to be discharged. The old contract for the construction of the road has been canceled, and payment in full made to the contractors. Mr. J. C. Tracy has been appointed Cashier of the Farmers' and Mechanics' Bank of Hartford, vice Geo. P. Bissell, resigned. A private banking establishment has been started in Hartford, Conn, under the style of George P. Bissell & Co., by D. F. Robinson, late President of the Hartford Bank; Calvin Day, of the firm of Day, Owen & Co., Hartford; and George P. Bissell, late Cashier of the Farmers' and Mechanics' Bank, Hartford. Among the references of this house are J. J. Palmer, President of the Merchants' Bank, and Duncan, Sherman & Co. The total net earned premiums of the Sun Mutual Office, for the year ending the 4th inst., were $1,916,753 03. The losses, expenses, reïnsurance, &c., for the same time, amounted to $1,881,927 67, leaving a profit of $34,825 36. The profits of the Company to the 4th of October, 1853, were $2,861,756, for which certificates have been paid off, including 36 P cent. of 1851, to the amount of $1,888,696. The assets of the Company, less its indebtedness, are $1,456,325 36. The Trustees announce that, notwithstanding the great marine insurance losses of the present year, the reserved fund of one million dollars remains unimpaired. Deeming it expedient to increase its capital, bereafter only one-half the profits of the Company will be appropriated to the redemption of the scrip until the accumulation shall reach at least two million dollars. The Trustees have declared & dividend interest to the let. inst. of 3 v cent. on the outstanding scrip of the Company, payable in cash on and after the 31st day of December next. The Louisville Courier states that the liabilities of G. H. Monsaratt & Co, of that city, who lately made an assignment, are about $80,000, while their available assets are estimated at $131,000. The failare of the house was precipitated, if not produced, by the fact of a confidential agent or carrier having defaulted with a large amount of funds, intrusted to him for transportation from Paducah to Louisville, for the benefit of the house. The amounts at the several depositories to the credit of the Treasurer of the United States on the 23d of October, were as follows:

2. November 9, 1854 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, November 9, 1854

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The latest bulletin in regard to the Indiana Banks The latest bulletin in regard to the Indiana Banks is the fellowing letter from Indianapolis: INDIANAPOLIS Sistarday, Nov 4 1854. JOHN THOMPSON, Eq No. Wall-st., New York. Dear Sir: Having during the last two weeks visited most of the priccipal towns of this State, to ascertain the position of the Free Banks, I am sorry to have to state that nearly the whole of them have suspended specie payment and many of the accessible ones already protested. Of the owners of the Free Banks large number of whom are in this city, I regret to say that some entire ly disown any connection with banks that are currently reported to belong to them, and as some of these banks are incossible and others have only a nominal place of business, it becomes almost an impossibility to get the notes protested, and as it is well known that the banks have stopped specie payment, what ecourse have the bill holders? The following banks have protested to my certain knowledge, and others I will report to you as fast 88 I learn the fact. Merchants Bank. of Lafayerte: Wayne Bank. of Logansport; State Stock of Pean.; Eikhard's Co. Bank; Batk of Connersville. &c. Of the State Stock Bank of Logansport could find no office, no owner, nor anybody that know suything aboutit. The Cashier of the Northern Indians Bank . Lo. gansport I had heard asserted would redeem 183 to tos, but n presentation be very liberally offered me fifty cents on the dollar for them, which I declined. Ofthose banks situated in the remote swampy diatriets of the State, such as the Bank of America, as Morocco, the Wabash River Bank, at Jasper, see., I am not yet able to say anything, nobody, to my knowledge, having yet penetrated to them. I presume, however, they have stopped ment; the 0 wner of one of these, residing in this city, and declining to take up his notes, favors this conviction. The bonks of this city still continue to redeem, although the owner of one last night said he intended to stop redeeming to brokers. Atpresent I know of only about twelve banks that redeem. The Auditor has declared that notes protested in packages will not ereceived by him, as the only legal way is to protest them singly, thus rendering useless the protests on some of the banks above mentioned, hich were deno in packages. Of the Delaware County Bank, said to be at Muncio, I can discover no officer nor owner. Banks of this class are numerous, as are also those like Wayne Bank, which we were recommended to a saw-mill to find, and the Newport Banks, three of which are in the County Clerit's office. There is now scarcely a dellar in the State except Free Bank paper, all else being engerly seized to reS. C. THOMPSON. Yours, mit East. Mr. John Rice has been elected President of the Atlantic Bank of this City, vice Mr. Isaac Otis, resigned. Mr. J. W. Baker was elected Vice-Prosident. Mr. Patchin, we understand, promises to pay the Coupons on the Bonds of the Buffalo and New-York City Road, due in July, within the next thirty days. There is no important change in the Money market, but if any, it is not in greater ease. The Banks continue to contract their loans, and while this continues but little relief can be looked for. Exchanges, however, are in favor of this City from all the prominent potnis, and but for the trouble among the Western Banks, we should expect a let up to some extent within a week or two. The rates for paper are without change. At Boston, the Money market continues easier. At Baltimore, The Sun says: The hopes of some improvement in money metters this week stimulated speculators to make time purchases of stocks to 8 rather greater extent at the close of last week, and that helped the market somewhat. The effect of last week's stringency and the heavy payments on Saturday led to the suspension of three or four houses in Baltimore, some of which, however, showing ample assets, may only need an extension whereby to continue the conduct of their businees." At Detroit, according to The Journal The difficulty of obtaining money has never been 80 great as at present. Banks and brokers have nearly stopped discounts, and accommodations are not to be had at any price. The best securities are mostly refused, and every one is content to let his neighbor take care of himself, if possible. Heavy speculations are consequently out of the reach of most dealers, and operations have been restricted to such as will bring the quickest return. The Chronicle, of Pittsburgh, says: The Money market during the last week was probably more stringent than has been experienced in this city for four or five years. The rate for money now on the street may be set down at 11 P month for strictly No. 1, and various rates for other grades. The discount on currency fluctuates between 11@2. Eastern Exchange and par funds are very searce. The report against the Commercial and Farmers Bank at Paducah, Ky., we have reason to think, was without foundation, and the brokers generally are receiving it on deposit." The following semi-annual dividends have been declared by the Philadelphia banks. The Bank of North America and the Pennsylvania Bank divide in January and July. Northern Liberties Bank, 6 P cent.; Philadelphia Bank, 5; Mechanics' Bank, 6: Commercial Bank. 5; Kensington Bank, 6; Manufacturers' and Mechanics' Bank, 5; Bank of Commerce, 5; Girard Bank, 3; Western Bank, (extra5, 10; Penn Township Bank, 5; Farmers' and Mechanics' Bank, 5; Tradesmen's Bank, 4; Southwark Bank, 5. The Oswego Palladium says: " We are gratified to hear the report that Mr. E.G. Merrick, whose recent suspension has been anDounced, has made arrragements to resume again. We believe it has not been presumed that Mr. W. was not-able to meet all his obligations, with sufficient time." The Obio banks follow up the attacks upon the position taken by Auditor Dunn of Indians. The Cincinnati Commercial indulges in pleasantries on Mr. Dunn, who may be called " Anti-Ounn." It says: If anything was needed to complete the discredit and demolishment of all existing concerns organized under the free banking law, and out a check upon the creation of any new ones, Mr. Dunn's letter is ample to meet the demand. We have recently heard & great deal about ultimate security. What ultimate security is. Mr. Dunn has defined with great clearness and elegance. It means that the circulating notes of the stock banks are to be paid some time or other-if ever. From the annual report of the President of the Baltimore and Ohio Railroad, for the fiscal year ending Sept. 30, we have the following statement of receipts and expenditures: $3,645,600 45 Revenue as per ledger balance Expenses under the following accounts via: 8872 805 51 Expenses of transportation 579 240 96 Repairs of railway 179 . Renairs bridges.

3. November 17, 1854 The Athens Post Athens, TN

Article from The Athens Post, November 17, 1854

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1-0 - A letter from Lafayette, Ind., states that the Merchants' Bank of that place has suspended payment. The notes are selling in the street at fifty cents in the dollar. The securities of this bank are all Indiana 5's.

4. November 17, 1854 The Athens Post Athens, TN

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vored the de the "unpossession of Cuba, says it has been faltering purpose" of President Pierce to nequire that Island honorably, and he believes duty to be binding upon him still, no matter whether the question is considered in its free- relations to humanity, to commerce, or to dom. or The Millerites of Boston, assembled Tuesat the corner of Fourth and C sts., on day night, with their robes on, expecting with the world to come to an end, in accordance previous arrangements and belief. Our dirty planet, however, at last accounts had not confi- come to an end--but the lunaties are quite dent that there would be a grand smash up before the week sout. It was only postpon- off. ed a night or two until the fog cleared CATHOLIC ASSUMPTIONS AND INTOLERANCE. -The Meagher Grenadiers of Jersey City have held an indignation meeting, and passed strong resolutions in relation to the denun- James ciation of them by the Rev. Messrs. SunKelley and Hassenger, at St. Peter's on day last. A Roman priest, the Vicar-General at that San Franeisco, has annulled a marriage in not city, on the ground that the female had been baptized nor received the proper dispensation from the Romish Church-thereby presuming to set the civil law regulating marriage aside. We have always contended that Romanism does not acknowledge the authority of our laws and institutions. p- Recent official reports from the Erie Road state that less than one in a hundred who pass over the road free, were connect- Haed with the public press. On the New ven Road, out of 8,176 free passes, only 75 to were for members of the press. It is due the press to state these facts, as a contrary impression has prevailed. 1-00" Another duel took place near New York on Tuesday morning, being the third of the kind which has within two weeks. The city affair originated combatants South in were that st., two young men, one a merchant in New York, the other a custom-house broker in the same city, and the cause of their quar- in rel was a beautiful young lady residing to whom each made met at Fort Green and fired one They Brooklyn, pretensions. round which resulted in one of the duellists getting ball a ball through his hat and the other a The his left arm, injuring it quite seconds in badly. then interfered, settled the dispute, and the parties left the ground. The grand jury of Dane county, Wis- of consin, 1-77 recently indicted the Secretary State and Attorney General for wrongful and illegal acts, as commissioners of the school the lands. The indictment is founded upon facts which have transpired touching the sale of a very large body of the schools lands.The vote on finding the indictment is said to have been nineteen to one or A Paris letter says, the Sultan, AbdulMedjid, in spite of ancient Mahometan usages, offered his palace of Therapia to Mmes. de St. Arnaud, T'Allonville and Yusuf. A cross was publicly planted on the 3d of October, in the French cemetery at Constantinople, and no protest has been made against an act unexampled since four centuries. Would it not seem that the old prejudices of Moslems against Giaours, are beginning to be extinguished NEW PHASE OF DEMOCRACY.-The Baltimore Argus anys that "new organizations are already in the field, whose objects are the overthrow of the Constitution and the establishment of a tyranny, without law, based simply upon the will of a majority." To this the American replies What a wonderful change adversity makes in the views of a professional politician. "The majority" has heretofore been regarded as infailible and almost omnipotent. ICI Never hesitate about doing a good thing Be sure it will all be right in the end, whether the deed is marrying a pretty girl, giving to the heathen, a dinner to the poor family, or rosy glances to Mary, the pleasant chamber maid. Never hesitate, but plunge at once into the good things of life and other tandem luxuries. 1-07 A letter from Latayette, Ind., states that the Merchants' Bank of that place has suspended payment. The notes are selling The in the street at fifty cents in the dollar. securities of this bank are all Indiana 5's. - In the city of San Francisco, of which so many hard things have been said, there are twenty church congregations, embracing nine thousand members. ILLINOIS.-Th result for Congress is seven Anti-Nebraska Congressmen, and two distriets to hear from.

5. November 17, 1854 Plymouth Advertiser Plymouth, OH

Article from Plymouth Advertiser, November 17, 1854

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# Monstary. The Cincinnati Gazette of Tuesday says: The Exchange Bank of Buffalo, Farmers' Bank of Chicago, and Woodbury Bank of Ct., have been discredited. The Urbana and Champaigne County Insurance Co., at Urbana, closed on Friday. Gold is selling here at five per cent. premium. The notes of the Bank of Kanawha sold to-day at 25 per cent discount. Bank of Circleville at 50; Kentucky Trust Co. at 70, and Newport Safety Fund at 80. There few sellers of Circleville, however. There is a good deal of confidence in the Bank. The notes of the Clinton Bank of Columbus were again refused, to-day. Indiana Stock notes are selling at 25 to 30c discount, but a list of 50 of them will be better in a few days. The notes of the Clinton Bank of Columbus, will be taken hereafter by the Trust Company. Thompson's Reporter says-The Woodbury Bank, Connecticut, was thrown out by the New York Banks od Thursday. The house of P. S. Marsh, of Buffalo, reported suspended, is still paying a large amount of acceptances, on property which has come forward, and all bonafide creditors will be fully paid, Over $20,000 worth of paper was paid on presentation on Saturday, and $15,000 to-day. The Farmers' Joint Stock Bank is not redeemed at its agency here, and Bank shut, Tuesday. There was much excitement, but the impression was that the notes would be redeemed fully. Merchants' and Mechanic's Bank of Chicago, is closed. The Napierville Bank and Bank of Elgin are refused in that city. The City Bank of Chicago closed Nev. 14. The private banking house of Geo. Milne & Co., Cincinnati, stopped payment; Tuesday Merchants' Bank of LaFayette, Indiana, Trans-Allegheny Bank, Va., and the Farmers' Bank, Half-Moon, N. Y., all broke. The Dayton papers contradict the report that the Miami Bank of Dayton, has failed. The Mechanic's and Traders' Bank of Cincinnati failed, Weduesday morning. It being a branch of the State Bank, the notes will not be sacrificed. A crowd of persons incensed by the failure of the Champaign Insurance Co., mobbed the house of the President, Mr. John H. James, in Urbana, on Tuesday night. Mr. J. was largely concerned in the Merchants' and Traders' Bank, Cincinnati. From the Sandusky Register of Thursday, we clip the following: CINCINNATI, Nov. 14. The closing of the Meachants' & Traders' Bank has increased the excitement already prevailing, and financial matters are now worse than ever. Confidence is decidedly weak; but we are happy to state we have no mercantile failures to report. Gold is 8 per cent premium, and there is a large amount of money olering outside, in small parcels, by those who are afraid to hold it. More relief is experienced in this way, than when the funds are in the hands of the brokers. The principal banking houses having failed, we are now near the end of our difficulties. It is hoped the three heavy bankers that remain, are above suspicion, and these, with the Trust Co., are receiving all the business, and the deposites are very heavy. All that is required to make money easier is confidence. In the general markets, very little business is being transacted. The notes of the Mechanics' and Traders' Bank are received on deposit, the other branches of the State Bank being bound for their redemption. On Tuesday, the Sheriff of Cuyahoga Co., forced the vault of the Canal Bank of Cleveland, to sceure the special deposits. Dr. H. A. Ackley, one of the Trustees of the Lunatic Asylum at Newburgh, placed in the Canal Bank some $9,000 of the State Funds, as a special deposit, to be checked out as the wants of the institution might require. When the Bank failed, he called to remove the moneys, but was told by the Cashier that the amount was included in the general assignment. The upshot of the matter was, an attachment was issued, and, upon the Bank's refusing to deliver up the deposits, the vault was forced, and contents taken possession of by the Sheriff. A compromise was effected, afterwards the Bank protesting against the whole proceedings. The Free Banks of Indiana are rapidly redeeming their circulation. From Monday morning to Wednesday night, last, $76,000 of their notes were returned to the Auditor's omce and cancelled--the parties receiving back an equal amount of the Stock Securities. The circulation is now reduced to $5,000,000, and is being redeemed at the rate of $50,000 every day. # A SAD SIGHT. A London paper states that since the battle of Alma, the different military depots of London, in Pall Mall, Charing Cross, Picadilly and Knightsbridge have been thronged with old men, women and chtldren, seeking

6. November 18, 1854 Semi-Weekly Standard Raleigh, NC

Article from Semi-Weekly Standard, November 18, 1854

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INDIANA BANKING. The latest bulletin in regard to the Indiana banks i. the following letter from Indianapolis: INDIANAPOLS, SATURDAY, Nov. 4, 1854. John Thompson, Esq., No. 2 Wall street, N. N.: DEAR SIR Having during the last two weeks visited most of the principal towns of the State to ascertain the position of the free banks, I am sorry to state that nearly the whole of them have suspended specie payment, and many of the accessible ones already protested. Of the owners of the free banks, a large number of whom are in this city, I regret to say that some entirely disown any connection with banks that are currently reported to belong to them, and as some of these banks are inaccessible, and others have only a nominal place of business, it becomes almost an impossibility to get the notes protested, and as it is well known that the banks have stopped specie payment, what recourse have the billholders? The following banks have been protested to my certain knowledge, and others I will report to you as fast as I learn the fact: Merchants' Bank, of Lafayette; Wayne Bank, of Logansport; State Stock, Pennsylvania; Elkhard's Company Bank; Bank of Connersville, &c. Of the State Stock Bank of Logansport I could find no office, no owner, nor anybody that knew anything about it. The cashier of the Northern Indiana Bank at Logansport, I had heard asserted would redeem its notes, but on presentation be very liberally offered me fifty cents on the dollar for them, which I declined. Of these banks situated in the remote swampy districts of the State, such as the Bank of America, at Morocco, the Wabash River Bank at Jasper, &c., I am not yet able to say anything; nobodoy, to my knowledge, having yet penetrated to them. I presume, however, they have stopped payment; the owner of one of these residing in this conviction. The banks of this city still continue to redeem, although the owner of one last night said he intended to stop redeeming to brokers. At present I know of only about twelve banks that redecm. The auditor has declared that notes protested in packages will not be received by him, as the only legal way is to protest them singly, thus rendering useless the protests on some of the banks above mentioned, which were done in packages. Of the Delaware County Bank, said to be at Munote, I can discover no offier nor owner. Banks of this class are numerous, as are also those like Wayne Bank, which we were recommended to a saw-mill to find, and the Newport Banks, three of which are in the county clerk's office. There is now scarcely a dollar in the State, except free bank paper, all else being seized to remit East. S. C. THOMPSON. Yours,

7. December 6, 1854 The South-Western Shreveport, LA

Article from The South-Western, December 6, 1854

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living at Balley, two old sea-captains, captain Joseph A. Bulley and captain Wonton Howland, who met at the Island of Masafuero, in the year 1809: and are now, it is believed, the only survivors of the two ships' companies. One of these ancient mariners sailed from this port in the ship Barclay (the same vessel now employed in the whale fisheries,) in the year 1799—the good ships Maria and Bedford being the only other ships at that time owned at this port. The Barclay put into Masafuero in March, 1800, and procured and dried 52,000 fur seal skins, and proceeded thence to China for a market, and there took on board a cargo of teas, with which she returned after an absence of 21 months. Upon her arrival the crew received $1000 each every seaman being paid at the same time 1-100th of the proceeds of the voyage. She was fitted out with sixty barrels only of salt provisions, and the ship and outfit were valued at $18,000. Her now veteran commander, upon his arrival here experienced some difficulty in obtaining a mode of conveyance to his home in South Dartmouth, the only horses at that time for hire in this place being three, which were owned by Jeremiah Easton, a colored man. The rev. Mr. Taylor, while preaching on the Plaza, at San Francisco, recently, stated that according to the best information that he had been able to obtain, the bethel church in that city was the only self-sustaining establishment in the world. But not only the bethel had been self-sustaining, but enlarging one branch has been established this year already. There will be another before the year closes. An expedition, it is said, is to be organized during the ensuing winter, to wage a war of extermination against the Sioux Indians, and other hostile tribes, who have been engaged in the late outrages on the plains. The force is to be concentrated upon the Jefferson barracks, early in the spring, so that active operations may commence as soon as the weather will permit. The force is expected to be composed of infantry, cavalry and artillery of the army, and some companies of mounted frontier men. The Detroit Free Press relates an instance of a case that came before the police court of that city, in which a man was arraigned for whipping his wife the second night after marriage! He was fined fifty dollars, and in default of payment, committed to jail for sixty days. The Jackson Mississippian says that the state officers—the governor, auditor, and attorney general, have been examining the accounts of col. James E. Matthews, who was some six years since reported as a defaulter to the State, in his office of auditor, and that on such examination it was found that the State owed him instead of col. M. owing the State. Upon the statement, the Natchez Courier comments as follows: We are glad to hear of it: and would also suggest that as one good turn deserves another, colonel Matthews and the state officers examine gov. McRae's Chickasaw accounts. Some fifteen years since, gov. McRae acknowed a liability to the State of over the sum of $10,000. He has had so much trouble in taking care of it for the State for this long period, that perhaps by this time the State is in his debt. Ask for a settlement with the State, governor. Yesterday at Urbana, the bell of the presbyterian church rang the second time; the congregation sat waiting, but no minister came. After the lapse of half an hour a note was handed to one of the elders, who arose and read it to the congregation. It was from the minister, who said that he would not preach for them any more till his salary was paid up. There's a clergyman of the right pluck. Why should a minister any more than a shoemaker mend souls without being paid for it? [Albany Register. A ROYAL SUITOR. The king of Bavaria, it seems, is a suitor in the courts of New York, an action having been entered in the supreme court, on Wednesday, in the name of Maximilian II, king of Bavaria, as the plaintiff, against Jacob Neustapter, now a merchant in New York, to recover thirty thousand florins (about $12,000) alleged to be due and owing to said plaintiff. The Express understands that the claim is on alleged advances in establishing a silk factory at Bavaria some six years ago. The answer has not yet been put in. A Virginian has beaten the yankees at their own weapons. John J. Rollow, of Fredericksburg, Va., has invented a machine which will husk and shell corn at one operation. The ear with husk is thrown in its mouth, and in the twinkling of an eye the corn falls at one point the clean cob coming out at the other end. Its capacity is about four hundred barrels per day. Mr Bundy, of Lyndon, Vt., has invented a machine for digging potatoes. The idea consists in providing mould-boards with slats so constructed as to work through the soil, acting like a sieve, raising and separating the potatoes from the earth and leaving most of the earth or soil in its place. Mr. B. claims that it can be handled with as much facility as a common plough. The Melville gold mine of Virginia is said to be yielding well during the present depressed state of the country. The company have cut through a new vein, the existence of which was not known until cut through, in search of clay to plaster up the side of a reservoir. The ore obtained from this vein is said to be of extraordinary richness and the vein promises to increase in size and abundance of the ore. A letter from Lafayette, Indiana, states that the Merchants' bank of that place has suspended payment. The notes are selling in the streets at fifty cents on the dollar. The securities of this bank are all Indiana 5's. A famine unparalleled in the history of the country, is said to be prevailing in the land of Judea. The know nothings in the neighborhood of Richland and Franklin, held their meetings in a dark and dismal swamp, in a small log cabin on the bank of cypress creek. Horrible. [Southern Sun. The bare idea of 'log cabins,' let alone that 'dark and dismal swamp,' is surely enough to give a loco-foco leader qur kes of horrors. About the time that temperance and slavery began to flourish, a committee waited on old parson Milton, of Newburyport, Mass., requesting him to advocate those causes. "Shan't do it!" said the parson of the old school, "when you hired me, it was to preach the gospel—now its rum and niggers!" # Mayor's Proclamatic

8. January 11, 1855 The Daily Minnesota Pioneer Saint Paul, MN

Article from The Daily Minnesota Pioneer, January 11, 1855

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From the Crawfordsville Review. The Free Banks of Indiana. The following list of Free Banks of Indiana were reported in the recent Convention at Indianapolis, as specie paying banks: Hoosier Bank, Logansport; Prairie City Bank; Indiana Stock Bank, Laporte; Gramercy Bank; Western Bank, Plymouth; Canal Bank, Evansville; Fayette County Bank; Lagrange Bank; Bank of Indiana, Michigan City; Bank of Syracuse; Cambridge City Bank; Bank of Rockville; Salem Bank; Bank of Monticello; Crescent City Bank; Central Bank, Indianapolis, Indiana Bank, Madison; Bank of Goshen; Bank of Salem; Farmer's Bank of Westfield; Keutucky Stock Bank; Kalamazoo Bank; Bank of Warsaw; Bank of Mount Vernon; Bank of Paoli; Bank of Elkhart; Merch. and Mechanic's Bank, N. Albany. Bank of the Capitol; Trader's Bank, Indianapolis; N. Y. & Virginia Steck Bank, Evansville; Farm's & Mech's Bank, Indianapolis. The following resolution among others was adopted: Resolved, That we will receive and pay out the notes of the banks represented in this Convention as specie paying banks in all business transactions, and that we will in no case treat as par funds, the issues of any suspended bank whatever. The above list comprises all the banks covered by the foregoing resolution. It is thought that twenty or thirty more banks will acquiesce in the arrangements in a :week or two. Here is a list of those which the Indianapolis Journal says "have no place of doing business,-no owners in fact that anybody can find,-and don't redeem their paper in coin, currency, or exchange." Bank of America, Morocco; Bank of Connersville, Connersville: Drover's Bank, Rome; Elkhart county Bank, Goshen; Merchant's Bank, Lafayette; Orange Bank, Poseyville; Merchant's Bank, Springfield; Northern Indiana Bank, Logansport; Plymouth Bank, Plymouth: State Stock Bank, Logansport; " Peru; Trader's Bank, Terre Hante.

9. January 18, 1855 True American Steubenville, OH

Article from True American, January 18, 1855

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FREE BANKS OF INDIANA.-At a convention of thirty of the specie paying free Banks of Indiana, held at Indianopolis, lately, the following resolution, among others, was adopted: Resolved, That we will receive and pay out the notes of the banks represented in this Convention, as specie paying banks in all business transactions, and that we will in no case treat as par funds the issues of any suspended bank whatever. The Indianopolis Journal gives a list of the following shaving shops which have no place of doing business, no owners that any body can find, and which do not redeem their paper in coin, currency or exchange: Bank of America, Morocco; Bank of Connersville, Connersville; Drover's Bank, Rome; Elkhart Co. Bank, Goshen; Merchant's Bank, Lafayette; Orange Bank, Poseyville; Merchants' Bank, Springfield; Northern Indiana Bank, Logansport; Plymouth; State Stock Bank, Logansport; State Stock Bank, Peru; Traders' Bank, Terre Haute.

10. January 18, 1855 Plymouth Banner Plymouth, IN

Article from Plymouth Banner, January 18, 1855

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The Bank of the Capitol and the Farmers and Mechanics' Bank to-day receive deposit par, only the bills of the following named Banks: CLASS NO. 1. Bank of Indiana, Michigan City, Bank of Syracuse, Syracuse. Bank of Rockville, Rockville, Bank of the Capitol, Indianapolis, Bank of Salem, (south.) Salem. Bank of Brookville, Brookville. Bank of Monticello, Monticello. Bank of Goshen, Goshen. Bank of Eikhart, Elkhart. Bank of Mt. Vernon, Mt. Vernon, Bank of Warsaw Warsaw, Cambridge City Bank Cambrdge. Central Bank Indianapolis. Central Bank Evansville. Crescent City Bank Farmers Bank Westfield. Farmers & Mechanics Bank Indianapolis. Fayette County Bank Connersville. Grammerey Bank Lafayette. Government Stock Bank Hoosier Bank Logansport. Indiana Bink Madison. Indiana Stock Bank Laporte. Kalamazoo Bank Albion. Kentucky Stock Bank Columbus. Lagrange Bank Lima. Laurel Bank Laurel. Merchants and Mechanics Bank New Albany. New York and Virginia State Stock Bank Evansville. Prairie City Bank, Terre Haute. Salem Bank, (north) Salem. Southern Bank of Indiana Terre Hiute. Savings Bank Connersville. Traders bank Indianapolis, CLASS NO. 2. Agricultural Bank Mt. Sterling. Bank of Rochester Rochester. Bank of Rensselear Rensselear. Bank of Rockport, Rockport. Bank of Perrysville Perrysville. Bank of Attica Attica. Bink of North America Clinton. Delaware County Bank Muncie. Farmers and Mechanics Bank Rensselear Green County Bank Bloomfield. Huntington county Bank Huntington. Indiana Reserve Bank Kokomo. N.Y. State Stock Bank Vincennes. Perry Co. B'k Cannelton. Pub. Stock Bk, Newport. People's Bk, Lima, Lima. Shawnee Bk, Attica, State Stock k.Jamestown. State Stock Security Bk,Newport. State Stock Bk Marion. Syracuse Bk Syracuse. Trader's Nashville. Tippecanoe Bk. Winnemac. Wabash River Bk. Jasper. Wabash River Bk Newville. Wabash River Bk.New Corrydon. Wabash Valley Bk,Logansport. Western Bk Plymouth. The First Class embraces those which redeem their bills in coin, The cond comprises those which have, at times. declined to pay Brokers and "Bank runners." but stocks, and whose proprietors give care and attention to them, Many of our business men have restricted their receipts to the First Class. Others are gradually curtailing the Second Class, and it is probable that, in a short time, all which are not by their owners made equal to those in the First Class by prompt redemption of their notes in spe. cie, will be rejected as uncurrent. The following named Banks are those which, it is understoon, make no pay. ment of theirnotes to any one. ana which are, most of them. secured by 5 per cent. Indiana Bonds. The discount at which their paper will be received, will depend on the selling price of their stocks in New York. The following portion of the Third Class have been taken to day on deposit at the Bank of the Capitol and the Farm ers' and Mechanics' Bank, at FIFTEEN PER CENT. DISCOUNT. Bank of Covington, Covington. Bank of South Bend, South Bend. Bank of Fort Wayne, Fort Wayne. Elkhart Co. Bank, Goshen, Farmers' Bank, Jasper, Northwestern Bank, Bloomfield. Steuben Co. Bank, Angola. Upper Wabash Bank, Wabush. Wayne Bank. Logansporte. Wayne Bank, Richmond Great Western Bank, Terre Haute. Starke Co. Bank, Knox. The following named have been re ceived 0.1 deposit to-day at the Bank of the Capitol and the Farmers' and Mechan ics' Bank, at THIRTY PER CENT. DISCOUNT, Bank of Albany, New Alb&oy Bank of T. Wardsworth, Michigan City, Bank of North America, Newport. Bank of Auburn, Auburn. Atlantic Bank, Jackson. Bank of Albion. Albion. Bank ofConnersville, Connersville. Bank of America, Morocco. Bank of Bridgeport, Bridgeport. Drovers' Bank, Rome, Merchants' Bink, Springfield. Merchants' Bank, Lafayette. :

11. June 11, 1855 The New York Herald New York, NY

Article from The New York Herald, June 11, 1855

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I Total $63,245,655 63,373,976 128,321 The cash receipts of the Morris Canal for the week ending on Saturday, 2d inst., were $8,816, against $7,570 for the corresponding work last year, being an increase of $1,276. The receipts for the year up to the 26th alt. were $51,312. against $45,458 to same date last year, being an increase thus far this year of $5,854. At a meeting of the Western Railroad stockhold ers, held on Tue day, the 5th inst., it was decided, by the large majority of two to one, not to accept the act of the Legislature which authorizes the company to issue six per cent bonds, to pay for the purchase of the Hudson and Berkshire Railroad, and construct a second track from Springfield to Albany. After this vote was decided, a reconside. ration was called for, on a "stock vote," and carried. The question or acceptance was then taken and decided in the affirmative. The Courier says:The opponents of this measure have used great exer. tionsto defeat it, but finding themselves in the minority, submit to the result in the cheerful spirit of true republicanism. doubtedly more The increasing. than c line un. formed without the completion of the second track, and the managers express the confident belief that there will be no curtailment of the regular dividends. The sinking fund already amounts to $30 per share, and the stock ought fetch par, including the July dividend. The state Treasurer of New Jersey has given no. nce that an injunction having been issued from the Court of Chancery restraining the Americau Exchange Bank at Cape May Court House from exerclaing any of the privileges or franchises granted under the State act, the notes will be redeemed at the Treasury office at Frenton. on and after July 20. The gross receipts of the Hudson River Railroad Company during the eight months ending May 31, 1855, amounted to $1,345,252 05, against $1,199,954 53 for the corresponding period the previous year, showing an increase of $145 297 52. The Newark Advertiser gives the following sy nopsis of the decision of the Chancellor of New Jersey in the case of the Morris and Essex Railroad. The company will probably appeal, as the points at issue are of the greatest importance:The Chancellor appears to have given much time and attention to the subject, which is not only important to this city, but of very general importance, inssmuch as it is deemed to settle the law in the case. The opinion, we are informed, is very erudite, and exhausts the subject. The court comes to the conclusion that no railroad company, in the absence of legislative permission, has a ight to lay its railway along any public highway, in town or country, with the consent of the proper authorities-it indeed, any other than legislative authority can effectually be given in the premises. If a company does, without such authority. thus lay down its track, the track becomes at once a public nuisance or obstruction to the street or highway, and as such may forth with be removed. The Chancellor, we understand, retains the injunction for a short time, to afford the complainants an opportunity to appeal from the decision, if they shall see fit to do so. The opinion and judgment of the court fully sustain the action of the city authorities in the matter and but . short time will elapse before the final adjudication of the matter will have taken place, even though an appeal be taken. Should no appeal be taken, however, in & rea. sonable time, the injunction will be removed. of course, and the Common Council permitted to remove the track. In this case it may be done, in fact, at the expense of the parties claiming to own the track, for it is provided, we believe, by section 5 of the ordinance, entitled "An ordinance to remove obstructions from the streets and for other purposes." that the Street Commissioner, Mayor. or any or either of the members of the Common Council, may order any article or thing whatsoever which they may deem an obstruction or nuisance in or upon any street of the city, to be removed, and if it be not removed forthwith, then to remove and seil the same, and out of the proceeds of the sale reimburse the city for the expense of the removal of the obstruction. We understand that the Chancellor has made no order yet to remove the track, and the city will not move fur. ther in the matter till official authority to do so is recoived. The receipts of the Beaver Meadow Railroad and Coal Company, since the commencement of the sea$54,429 58 son to the 2d inst, amount to 36,022 To correspending date last year $18,406 79 Increase (over 50 per cent) The coal tonnage for the past week was 14,641 tons, against 11,072 tons in the corresponding week last year. The State Auditor of Indiana notifies holders of the circulating notes of the Merchants' Bank at Lafayette, Merchants' Bank at Springfield, Greene County Bank at Bloomfield, Government Stock Bank at Lofayette, Laurel Bank at Laurel, Bank of Connersville at Connersville, Wabash Valley Bank at Logansport, Bank of T. Wadswortb, of Hartford, at Michigan City, to return the same to the office for cancellation, on or before the 15th day of July next, that the outstanding circulation may be determined as accurately as possible, and a pro rata dividend thereon declared. Certificates for the amount returned will be issued, and the dividend on the respective banks paid upon presentation of the certificates at the Auditor's office, after the 15th of August next. The Lancaster Daily says, in relation to the failure of the Lancaster Savings Instititution, through its Treasurer, Mr. Boughter:The amount of defalcation is reported to be $300,000. Before his arrest Mr. Boughter had assigned over to the trustees all his real estate and other property, amounting in value to $120,000, leaving an unbalanced deficit estimated at $180,000. The capital stock of the institution was $50,000, all paid which, taken from $180,000, leaves $130,000 to be lost by the depositors. The depo. aits are set down at $550,000; and from this statement it is estimated that the depositors will realize from 75 to 80 per cent on their deposits. Some seem inclined to believe that they will eventually realize the whole, and that the institution will be again put into operation. The Auditor of the State of Obto has just issued his report for the last fiscal year. The revenue and expenditures were as follows:-FINANCES OF OHIO-RECEIPTS AND DISBURSEMENTS. Receipts. Taxes of 1853, and delinquencies of pre$2,851,571 vious years. 477,264 26 Canal tolls, fines, water remts, &e 39,813 13 Dividends on railroads and other stocks 106,250 82 Surplus revenue-principal and interest 149,748 51 Proceeds of sales of school lands 93,455 Other sources 762,830 57 Balance in State Treasury Nov. 15, 1853

12. December 5, 1855 Western Reserve Chronicle Warren, OH

Article from Western Reserve Chronicle, December 5, 1855

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Sp n. and which was attached in No York by one Hopper, some months ago, has been restored to him by order of the Court. THE Postmaster General has decided that a pen mark made over or opposite an article in a newspaper with the sole object of calling attention to the article, will not subject the paper to letter postage. WASHINGTON, Nov. 20. According to the present dete rmination. no copies of the President's Message will be sent out for newspapers, as heretofore, in advance of its delivery in Congre THE Bridgeport, (Conn.) Farmer, says that Mr. Adolphus Beers, while fishing one y in a brook at Stratford, discovered and has in his possession what purports to be a diamond of the best water. He is officred two hundred dollars for his prize. AT a land sale at W noni, Wisconsin, a stranger undertook to overbid a settle, when the crowd reized him with the design of drowning him in the river. He dre a revolver and shot three of them, though not fatally. THE little town of Solon, Ohio, with a Pol ulation of only 1035, manufactures two hundred and fifty tons of cheese per annum. GLOVES.-Belgium is the great glove manufactory of the world. It is stated that from one establishment last year, 400 000 dozen pairs were exported to England and America. There are three thousand hands employed. The Chicago J urnal says the follow. ing Indiana banks have been wound up, and their securities sold. The bills are worth, according to the sum realized, the following figures Bank of Cornersville, 87 cents; Wabash Valley Bank, 63 cts.; Green County Bank, 81 cents; Mer chant's Bank. Lafayette, 90 cents ; Laurel Bank, 62 cents Government Stock Bank' 80 cents. THOMAS FRANCIS MEAGHER was married in New York on Wednesday, to Miss Townsand. It is rumored that her father has cut her off with "a shilling" in consequence. RARE PORT.-If the Newport News may be relied upon, the citizens of Cov. ington indulged in very novel amuse ments That paper of the 19th says: "We understand thst a lady, for a wager of $20, walked one square and back, on Saturday night, maked, without detection; in the event of which she was to have the money. The feat was pre formed on Main street, Covington, betweeen Fourth and Fifth streets, at no later than a quarter after ten. The night was very dark." MASSACHUSETTS.-Dr. Chaffee, the new K.N. Member of Congress from this State, is said to be an old fashioned Abolitionist. At any rate, he has long been known as a determined Free Soiler, and voted the Republican State Ticket at the late election, though himself running on the other side. We count his vote safe for a freedom-loving organization of the House, for Reeder and Free Kansas all the way through, and for the impeachment of Kane, should the House find time to waste on game of that size. THE MULT/PLICATION TABLE.-Many persons are not aware that this ingenious table was invented by the Greek Phil osopher Pythagoras, 538 years before Christ, and is consequently 2393 years old. Scholars as they wade through the intricate mazes of "twice one are two," will please ponder upon this intereting fact. THE Southern Statesman, published at Prattville, Alabama, urges the "appropriation of every dollar in the State Treasury," if recessary, for the purpose of foreing slaveryinto Kansas! It urges the calling of County and State Conventions for the purpose of organizing Southern "Kansas Aid Societies." A PROJECT has been started in Louisiana to connect the Mississippi River with Lake Borgne by a canal, cut from a point eleven miles below New Or eans, to an in ersection at Bayou Phillipou. It is believed that by the construction of this work up country produce conld be landed at Mobile, and other places of consumption along the sea be rd, at one-half the cost of freight charges, and vice versa, by the avoidan e of the re-shipments and expense of consignment at New Orleans. The proposed canal will be less than four miles in length, and w Il cost about $600,000. It will contain a single lock and will carry vessels drawing eight feet of water. The project seems to find favor NAM Ouk