Bank of Rockbridge (Lexington, VA)

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Money Matters--Depression In Manufactures

The money market is quiet. In Philadelphia, Thursday, the banks were doing a moderate business. Specie commanded four per cent. The Bank of Rockingham, at Harrisonburg, Va., has suspended. The Bank of Rockbridge, at Lexington, suspended on Monday, on the strength of a report that the Richmond banks had closed. On Wednesday, however, a correction of the rumor was recelved, and it resumed specie payment. The unprecedented scarcity of change has induced the Corporation of Alexandria, Va, to issue its due bills of the denominations of $1 and $2 in settlement of small claims on the treasury. Heavy failures continue to occur in Boston, and the well known and extensive Bay State Mills, in Massachusetts, are to suspend under the failure of their agents. The Baltimore Clipper learns that a former officer of the Farmers' Bank of Maryland, will be put on his trial in Annapolis early in the present month, for having, as is alleged, defrauded the said bank of the sum of about forty-five thousand dollars. The New York Tribune of yesterday says: "Here the banks have already acted to some extent upon the resolve of yesterday, to expand, and although they could not meet all the demands of their dealers, have materially assisted the commercial community. A sale of French goods, amounting to $194,000, made by Van Wyck, Townshead & Warren, which fell due yesterday, was promptly met to the extent of $190,000-certainly a favorable sign.: The promptness with which the payments of our merchants are met, is certainly most remarkable, under the circumstances. Trade, however, is quite dull among the jobbers, and many descriptions of goods are selling at a heavy loss.— The stock carried over will probably be large, and the spring importations light, a consummation most devoutly to be wished. Land warrants are entirely unsaleable, and have been for some time past. Our city banks keep on the even tenor of their way, and feel abundantly able to sustain themselves. Their specie reserve will be largely increased in a short time. The specie reported to be'coming by the Vanderbilt, $90,000, if coming at all, is probably in deubloons for Havana." The greatest decline in stocks In New York, on Wednesday, was in Milwaukie and Mississippi Railroad, which fell off to 16 from 21, under a suspension of payment of its floating debt and interest in income bonds.

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THE VIRGINIA BANKS

-The following Banks in this State have suspended specie payments: The Bank of the Valley at Winchester and all its branches at Staunton, Charlestown, Christiansburg &c.; the independent Bank of Winchester and the branch of the Farmers' Bank at the same place; the Central Bank of Virginia, at Staunton ; the Monticello Bank, at Charlottesville; the Bank of Rockbridge, at Lexington; the Bank of Rockingham, at Harrisonburg; the Banks at Alexandria, Fredericksburg, Lynchburg, Wheeling and other places. The Banks at Richmond and Norfolk, with most of their branches, including those at Petersburg, have stood out against the pressure.

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Suspension of the Bank of Rockbridge. [CORRESPONDENCE OF THE EJOHMOND DAILY DISPATCH.] LEXINGTON, Va., Oct. 16th, 1857. In consequence of the suspension of the Farmers' and Exchange Banks of your city, the Directors of the Bank of Rockbridge met this morning, and determined to follow suit. Referring to the card of the President of this Bank published recently in your paper, this resolve is rather humiliating, especially as it is known that no demand for specie of any consequence has been made. It is said that a draw of some six or seven hundred dollars, was made yesterday from the "Mountain City," but surely this would not be a sufficient reason for shutting down so suddenly. JOE.

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THE VIRGINIA BANKS

-The following Banks in this State have suspended specie payments: The/Bank of the Valley at Winchester and all its branches at Staunton, Charleston, Christiansburg &c.; the independent Bank of Winchester and the branch of the Farmers' Bank at the same place; the Central Bank of Virginia, at Staunton, the Monticello Bank, at Char: Jottesville; the Bank of Rockbridge, at Lexington; the Bank of Rockingham, at Harrisonburg; the Banks Alexandria, Fredericksburg, Lynchburg, Wheeling, adidas and other places, The Banks at Richmond and Norfork, with most of their branches, including those at Petersburg, have stood out against the pressure.