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TELEGRAPHIC! [ Reported expressly for the Daily Journal.] CINCINNATI, Oct. 13. The Kentucky Trust Co. Bank, Covingington, suspended to-day. Notes of the Bank of Connersville, Ind., refused. The Houses of P. D. Manchester & Gregory, and Inglesby & Co., reported failed.
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Totl.297,707 38 403,712 991,043,577 40 1,296,604 73 1,753,936 35 As the fiscal year commences October 1, the first three months in each year in the above statement belong to the previous calendar month. The estimated business of the year 1855 is in Gross $2,200,000 1,300,000 Expenses Balance $900,000 $632,000 Interest Appropriations to Sink. Fund 37,591 667,591 $232,409 Net or about 6 P cent. on the amount of stock issued, which is $3,759,000. The capital under the charter is $4,000,000. The new Bonds are not to be issued beyond the amount necessary to pay the floating debt until the Board has made provision for & sinking fund of not less than 1 P cent. annually upon the capital of the Company, to be invested in the second or third mortgage Bonds of the Company. The accept. ances of the Company will be received in payment of these Bonds. The Circular of the Company states that the income of the Road thus far has not been sufficient to pay the running expenses and interest, but the Directors bok hopefully to the future. The Finance Committee of the Erie Railroad was in session to-day, but we did not learn the result of their discussions. The Board, we understand, has before it several propositions for arranging its finances. One is to obtain authority from the Legislature, in January, to issue 8 ten P cent. preferred stock to the amount of four millions of dollars for the payment of the floating debt and the Income Bonds. This stock, it is believed, would be taken at par. The preference to cease when the regular dividends on the old stock reached ten P cent. also. The estimate of this arrangement is that if the income of the read in 1855 is, as anticipated, six millions of dollars, and the working expenses are 10 P cent., the net income would be sufficient to pay interest on bonds, dividends on the preferred stock, and six P cent. on the old stock. The telegraph reports that the run on the Cincinnati bankers has ceased without further failures. The failures which had taken place were Mr. P. B. Manchester, Mr. Sanford, President of the Kentucky Trust Co. Bank, and Messrs. Outcall & Co. The Gazette of the 19th says: This has been 8 day of unusual excitement in Thirdst. In the morning, P. B. Manchester, private banker, corner of Third and Sycamore, closed his doors. This caused considerable talk, but the number of depositors in that institution be. ing small, and the event being looked for by parties acquainted with financial matters, it did not cause much excitement. We know nothing 88 to the liabilities or assets of Mr. Manchester, but the gentleman bimgelf says he will be able to pay all his debts. Almost simultaneously with this occurrence, the report of the suspension of the Kentucky Trust Co. Bank, of Covington, was received, and about noon it was well understood that the Bank bad failed, and failed badly. This increased the excite. ment, and a run was at once made upon the Ohio Savings Bank, corner of Fourth and Walnut, owned by Mr. Sanford, who is also President of the Kentucky Trust Co. Bank, and principal proprietor of the Connersville Bank, one of the Indiana Free Banks About 1 o'clock the doors of the Bank were closed. From the fact that Sanford is a man of means, and sustains a high character for honesty, integrity and business capacity, depositors feel no uneasiness. By 2 o'clock, the excitement had spread pretty generally through the city, and before the hour for closing the Banks had arrived, a large number of people had collected on Thirdst. between Main and Walnut, and 8 run was commenced on Ellis & Sturges, and the checking on one or two of the other heavy Deposit Banks was pretty strong, but the whole did not amount to a great deal. With reference to the Kentucky Trust Company Bank, the circulation is said to be nine hundred thousand dollars. This Bank was started with & large nominal, but & small real capital, and during the first period of its existence it was badly, very badly managed. Mr. Sanford made an assignment of all his property this afternoon, and this will be more than sufficient to pay all his creditors. The notes of the Indiana Free Banks, with two or three exceptions, are not available either in Bank or trade. Some fifteen are purchased at Sto5 P cent. discount, and for the remainder there is no sale. The earnings of the Chicago and Rock Island Railroad for September. 1854. were:
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The Panic in Cincinnati. [From the Cincinnati Gazette, Oet. 18 ] This has been 3 day of unusual excitement in Third street In the morning P. B. Manchister, private bank. er, corner of Third and Sycamore, closed his doors This caused coneiderable talk, but the number of depositors in that institution being small, and the event being locked for by parties acquainted with financial matters, it did not cause much excitement We know nothing at to the liabilities or assets of Mr. Manchester, but the gentléman himself says he will be able to pay all his debts Almost simultaneously with this occurrence the report of the suspension of the Kentucky Trust Company Bank, of Covington, was received, and about noon it was. well understood that the bank had failed, and failed badly. This increased the excitement, and a run was at once made upon the Ohio SRVINGS Bank, corner of Fourth. and Walnut, owned by Mr Sandford, who is the President of the Kentucky Trust Company Bank, and principal proprietor of he Connersville Bank, (one of the Indiana free banks). The Ohio savings Bank was organized under the Free Banking Law of Ohio, but its eirculation has been chiefly if not entirely withdrawa The avings Bank has been redeeming in current funds the notes of the Connersville Bank, and the run was made by the holders of these notes and depositors. About 1 o'clock the doors of the bank were closed. From the fact that Mr Fanford is a man of means, and sustains a high character for honesty, integrity and buSIDEES capacity, depositors feel no naeasiuess, and we do not think the public will lose anything either by the Savings Back or the Bank of Coonersville Mr. Sanford's efforts to sustain the Kentucky Trust Company Bank led to the difficulties on thisside By two o'clock, the excitement had spread pretty generally through the city, and before the hour for clos11 g the banks had arrived, a large number of people had collected on Third street. between Main and Walnut, and a run was commenced on. Eltis Starges, a d the checking on one or two of the other heavy deposit Banks was pretty strong but the whole did not amount to a great deal. and if the parties who were morely lookers OD had absented themselves, the crowd would have been small andbut little excitement would have en exhibit. ed. The run, as in previous cases, was confined chi fty to small depositors-a class that are essily alarmed. and never fail to make a great Suss. Houses that have refused such deposits are not, nor will no's be troubled. With reference to the Kentucky Trust Company Bank, we have already stated that the failure is a bad one. The circulation is Faid to be nine hundred thousand dollars This Bank was started with n large nominal but a Email real capital, and daring the first period of its exi ten it was badly, very badly managed When Mr Sanford took the Presidency of tbs bank a rew Board of DE ectors was elected, and efforts were made to place the ffairs of the stitution upon a safe footing but th 10, owing partly to the Smancial difficulties that have prevai ed throughou: the country, did not prove gueensful. At the time the change was made in the dire tors hip of the back. we took occasion to notice the fact of its previous bed management and its then unsafe condition, and for this we were consured : but the result hows that it would have been better for all concerned if the Bank had been wound up at that time Mr. Fandford made an assignment of all his property this after neen, and this will be more than sufficient to pay all his cr ditors A statement of the condition of the Bank of Kanawha will he found in our advertising columns The market for exchange was unsettied to day, owing to the . arcity of currency and the prevailing excite ment. but the reg lar rates were 1 a 11/4 premium Lower rates are anticipated in the event of the pr ment state of affairs continuing The notes of the Indiana free banks with three exceptions. are not available either in bank d trade Form fifteen are purchased at s's 6 per cen discount, and for the remainuer there n no sale.
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ISAAC OSBORN DAVIS' CIRCULAR. FOR THE WEEK ENDING EDNESDAY EVENING OcToBER, 18.-The state of our Money Market still remains very. stringent, and money rates, on short,prime paper, at from to 3 per cent. per month, on the street. Our Banks are doing nothing for their custom ers. This state of affairs is attribuiable to the unseteled currency of our state, which we hope.will soon be in better condition. as our Bankers have aboutconsummated ar. rangements, 10 take ffect, 1st prox, with the banks of Ohio, Keniucky, Wheeling, and the State Bank of Indiana; by which the for mer agree to supply Eastern Exchange, for the ensuing six months, and not to exceed 1 of 1 per cent. premium; and not 10 send back any of the issues of these Banks for redemption within period. This will stop "assorting, and by giving these Banks the assurance that their bills will not be immediately returned for redemption, will give the. confidence to issue an abundant supply for the wants of the business community. These issues of the Indiana Free Banks are shill refused by our Bankers. Our merchanis have taken the matter in hand, and have agreed to receive the bills of some thirty-four of these Free Banks. so long as they continue to redeem them when presen* sed., This gready facilitates the payment of the indeb edness 10 the Indiana merchanis. and, in conjunction with the action of the Bankers, give great relief to monetary maiters. The Stock Market sympathises closely with the MoneyMarket. and presents state of apathy, auributable entirely, however. to want of means on the part of operators.— We quote the Market as about the same as at our Report. with less firmness however. Every indication is that as soon as the present stringency.is removed, our Market will present a buoyancy that it has not experienced for long time. Very respectfully, ISA AC OSBORN DAVIS. P.S. Since our report was made up, we learn that several of our Banking Houses— the Savings Bank, the People's Bank, and the Kentucky Trust Company Bank of Covington, have closed their doors. The Bank of Conenrsville, Indiana, is closely allied to the first and last named, being owned by the same parties. We cannot give particulars at this time. The Germantown "Locomotive" bears the following testimony in regard to the foreign vote in that locality: It looks as if R great portion of the for. eign population have gone for the People's ticket. If this place is any criterion by which to judge of other portions of the State. we know very well how they voted. Our German voters were almost unanimous for the People's ticket-some of them exerting all their influence in its favor. We even saw a German Catholic one of the most ac. live friends of the Ticket. A "Telegraph Wagon" is in use in the army in Turkey. It is formed of a large coil of gutta percha covered copper wire, attached to a self-acting plough, which burries the wire a few inches below the surface of the ground. On changing quarters, the wire is dug up and again used. Prince John Van Buren was one of the passengers by the Baltic. CINCINNATI. Oct. 19.-River risen 14 inches. Weather clear and cool. Flour, sales of 700 bbls. good brands. No sales of provisions. The money. excitement has almost put a stop to business. Outcalt & Co.; private Bankers, failed this morning. Depositors are running strong on Ellis & Sturgis. and Smeads' Citizens Bank. But the impression is that both houses are able 10 sustain the run, and that the excitement will be over 10. day, FINANCIAL.-The Cincinnati Gazette says there was much excitement in Third Street yesterday, and small depositors were generally alter their money. The Banking house of P. B. Manchester. closed its doors. B. F. Sandford & Co., who are connected with the Ky Trust Co. Bank, have also stopped payment. A serious crash among she Third Street Bankers is apprehenJed. MICHIGAN.-The northern regions of this State have a law for their special convenlence which authorizes them to vote for county and State officers in September. and before the weather and traveling get bad.Atathe late election in the mining region, including the Saut, Mr. Upton, the AntiNebraska candidate for Senator, was chosen over Mr. Graveat, Democrat. That is the way the election-will go all over Michigan next month. Of the 57 members of Congress elected in Pennsylvania. Ohio, and Indiana. 52 are anti Nebraska and 5 are Nebraska men Such is public opinion at the North. NOBLE Countr.-Majority for Norris, 425,; for Miller, 453; for Wire, 83. This is one among the very few Locofoco counries left in Ohio. The county seat is removed from Sarahsville 10 Col. Caldwell's farm in Olive township, some eightmiles south of Sarabsville. REMARKABLE - The 9th Congressional District, composed of the counties of Craw ford. Hardin. Marion, Onowa, Sandusky, Seneca and W yandot, has elected Cooper K Waison 10 Congress, by over 3,000 majorie ty, It was one of the hardest districts in the State. Every county, except Hardin gave large majorittes for Pierce, and Hardin was only 35 for Scou. It shows a remark. able change in public opinion. as every county new gives a majority for Waison.
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by these failures. On Thursday last, 19th inst., the Kentucky Trust Company Bank at Covington, Ky., also the Newport Safety Fund Bank, at Newport, Ky., suspended. The president of the Kentucky Trust Company Bank is the owner of the Connersville (Indiana) Bank, and simultaneously with the bursting up of the former the latter also suspended. This caused a general panie among note-holders of the Indiana Free Banks, and as a natural consequence a heavy run was made upon these rotten concerns. We have not learned the result of this run, but the notes of nearly all the Free Banks are refused by the Cincinnati Bankers and business men. To complete the havoc we believe the owner of the Connersville bank should be suspended-by the neck. The only notes of the Free Banks that are received as bankable by the State Bank of Indiana, are those of the banks at Indianapolis, Terra Haute, Madison and Westfield. In this place the notes of all Indiana banks have been refused for several days, except the State Bank of Indiana, which is perfectly sound. Within the past two months upwards of eight hundred and fifty thousand dollars of this Free Bank paper has found its way to the office of the Auditor of State for cancellation. This, together with the general sweep of the outstanding notes of these banks, will cause a deficiency in the currency which will be felt for some time. The State Bank cannot fill the vacuum, for the extraordinary demand for coin has rendered her powerless to give any relief. In relation to the future, the Cincinnati Gazette annóunces that an arrangement is in progress between the Cincinnati Bankers and the Banks of Ohio, Kentucky, Wheeling, and the State Bank of Indiana, to which the former have already agreed, which promises to bring relief to the money market.Under this arrangement the Bankers agree not to sell exchange above one half of one per cent. premium, for six months, and not to return the notes of any Bank for redemption for the same period. This will put a stop to the "assorting" business, and the good Banks will, therefore, be able to keep out their circulation. This arrangement will go into operation on the 1st proximo. Some arrangement of this kind might with profit to all concerned be made.The public mind is unnecessarily excited, and something should be done to give assurance. The issues of the Free Banks are secured on what are considered good public stocks, and if these securities are not forced on the market in an untimely manner are unquestionably sufficient to redeem the issues with small loss to the public. A panic forces the issues and the securities on the market, and the labor of the country suffers the loss. The following sensible remarks with reference to the Indiana Free Banks, we copy from the Madison, Indiana, Courier: It seems to us that in the present state of affairs it is necessary that a proper discrimination be made. It is admitted that some of the Indiana Free Banks are doing a regular legitimate husiness-the local business of the place where they are situated, receiving det posits, making discounts, and redeeming the notes when presented. As a specimen of this class, take the Indiana Bank in our city, whose securities, also I filed with the Auditor, are undoubtedly i good. Let no man suffer loss on such 03 money. There are other concerns that have neither banking house, President, Cashier, or other officer in the State of Indiana, and do nothing in the regular I business of banking; their owners reside in New York or elsewhere, and 1 very frequently their notes are got up with titles expressly to deceive the public-sometimes in imitation of notes of 03 New York Banks, and at any rate in such a way as scarcely to indicate that the place of payment is in Indiana.I These are virtually frauds, and whatever may be the character of the securities in the hands of the Auditor, it is -
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# The Failing Banks The Cincinnati Commercial publishes a statement of the Kanawha bank, (of Va.,) showing a very safe state of affairs in that institution, and remarks- "While we know nothing of the institution except through the showing which it makes, and the character of some of its stockholders, we have no reason to suppose that we are in possession of less information than those who are endeavoring to do it an injury. An amount of assets equal to one dollar and twenty-seven cents for each dollar of its circulation is not a very bad state of things, certainly. We do not present ourselves as endorsers of the solvency of this or any other banking institution, but we should be sorry at this time of pecuniary oppression, to see the mitchief aggravated by an unjustifiable suspicion of any concern whatever. Of the Kentucky Trust Co. Bank at Covington, the same paper says- "This institution, closed its doors yesterday morning. The public generally have been taken by surprise, though there are many who seem to have anticipated the failure. For many months the amount of paper presented for redemption has averaged about $80,000 per week, which, at the usual high price of gold for sometime passed, absorbed nearly the whole profits of the bank. It is thought by some that the bank will be able to meet its liabilities; by others it is considered a complete failure. We saw some of its money selling for 90 cents in Covington, soon after the failure, which, at least is an indication that some of the people there have full confidence in the ability of the institution. The bank has a cirsulation of $800,000, a considerable part of which has been put out but recently. Speaking of the present state of Banks and money matters generally, the Sandusky Register says: "There can be no doubt but that the public mind is unnecessarily excited about the Indiana currency. The issues of the Free Banks are secured on what are considered good public stocks, and these securities if not forced on the market in an untimely manner are unquestionably sufficient to redeem the issues with small loss to the public, A panic forces the issues and the securities on the market, and the labor of the country suffers the loss. Those papers, which are busy stirring up this monetary excitement, should think of the ultimate effect of these excitements ere they launch out upon their ill-considered crusade against the banks." The following is a list of banks that have bursted within a short time past: Patchin Bank, Buffalo. Farmers' and Mechanics' Bank, Oswego. Farmers' Bank of Canandaigua. Dovers' Bank, Ogdensburg. Bank of Carthage. Farmers' and Merchants' Bank, Md. Bank of Milford, Delaware. Farmers' and Merchants' Bank, Memphis, Massillon Bank, Ohio. Ohio Savings Institute, Tiffin. Cochituate Bank, Boston. Bank of West Killingly, Connecticut. Eighth Avenue Bank, New York. Bank of Ellsworth, Maine. Elkhart County Bank, Indiana. Bank of Northern Indiana. Bank of Washtenaw, Michigan. Erie and Kalamazoo Bank, Michigan. Kentucky Trust Co. Newport (Ky.,) Safety Trust Bank. Savings Bank of Cincinnati. The Bank of Connersville. The Washington Star cautions the public against the reception of the notes of the Arlington and of the Farmers' and Mechanics' Banks of Washington. Both are worthless, being mere bogus machinery started there for the purpose of flooding the country with their irresponsible issues.
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that on the 10th inst. he premised to surrande" securities in exchange for Eighth Avenue Bank notes-a proportionate share of bonds and mortgages and stocks; and OD the 26th, when an amount of bills was sent up for redemption, upon his own terms, he refused to surrender anything but bonds and mortgages. If the Comptroller has any control over this branch of his department, it would be well enough for him to look occasionally into the manner in which its affairs are managed. We have frequently noticed that some of the suspended banks are treated with a good deal of consideration, and get facilities afforded for winding up, so as to present as little loss as possible, while others are "put through" in double quick time, without any regard to the interest of any one concerned. It a B pears to us that favoritism is entirely out of place in the administration of public affairs, particularly where such important interests are concerned as are involved in the business of banking. The warrants entered at the Treasury Department, Washington, on the 25th inst., were:$44,797 42 For the payment of Treasury debts 9,018 30 For the customs 1,318 29 Covered into the Treasury from customs Covered into the Treasury from miscellaneous 47 50 sources 338,750 84 For the War Department 268,149 96 For repaying for the War Department 18,108 91 For the Interior Department The Indianapolis Journal says that between $900,000 and $1,000,000 of the circulation of the Free Banks of Indiana has been retired, and the securities withdrawn. The Nashua and Lowell Railroad Company have declared a semi-annual dividend of four per cent. The Frankfort Commonwealth furnishes the following particulars relative to the banks which have recently failed in Kentucky:The Newport Safety Fund Bank of Kentucky has failed. This was not one of the regular Kentucky banks, but was an institution started originally upon the free banking or stock banking system, and its notes were issued partly upon the basis which that system provides, and partly upon no basis at all that we know of, except the financiering abilities of its managers. It is an isstitution to which we have hereto:ore called public at tention several times. Its original charter authorized no notes to be issued by it, except through the Auditor of Public Accounts; and he was to countersign and issue notes only to the amount of security for their redemption, deposited with him in par stocks (State or United States), or in mortgages upon real estate. But at the next session of the Legislature after the granting of the charter, a little bill was quietly passed without uttrac ing any notice, which authorized notss of less than $5 to be issued without being signed by any other office: than the cashier. Under this a large amount of small notes was issued without any deposit of security. Security had been deposited to the amount of only about $50,000, and notes of $5 and upward issued to that amount. It will now be a question whether the security deposited with the Auditor is to be applied to the rede nption of all the notes, or only to those of $5 and upward which were issued by and through the Auditor upon the deposit of that security. The Kentucky Trust Company Bank at Covington, has also failed. This was an institution chiefly owned and managed by Cincinnati men. It is the same institution which it was proposed to branch and enlarge by the action of the last Legislature-s project which, to. gether with sundry other bank projects, was defeated by the veto of Governor Powell-an act for which we then thought and now think that the Governor deserved the thanks of the community without distinction of party. The total amount of coal transported from the whole Cumberland coal region, for the week ending Saturday, the 21st of October, is 18,445.16 tons, and since the 1st of January last, 517,926.08 tons, of which 397,683 03 tons were transported over the Baltimore and Ohio Railroad, and 120,243 05 tons descended the Chesa peake and Ohio Canal. The New Creek Company has resumed operations. By the first of November, the Hampshire Coal and Iron Company will be enabled to forward coal to the eastern market. The lease of the Carbon Pill mines has been purchased by John Tough, of Baltimore. The property of the Llangollen Company will be sold, in Baltimore, on the 25th of November next. The canal is now in excellent navigable order throughout its entire length, and quite a lively business is doing in the coal trade over that avenue. The Lonacoxing Iron Works, belonging to the George's Creek Coal and Iron Company. have been put in operation, after a suspension of several years. The annexed statement exhibits the quantity and value of foreign dry goods entered at this port for consumption, for warehouse, and also the withdrawals from warehouse, during the week ending and including Thursday, October 26, 1854 :MOVEMENTS IN FOREIGN DRY GOODS.
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The Philadelphia Ledger says: "Coal shipments on the Lebigh for the week ending with Saturday last were 41,058 tuns, and for the season 1,067,525 tuns, against 885,499 tune to same time last year-incr+ase, 182,026 tubs, The breach on the Delaware Division of the Pennsylvania Cacal, it is supposed, will require three or four days to repair. But an interruption of the navigation for even a single day, at this late period of the year, is attended with very serious inconvesience. and irreparable loss to all the parties interested, and is calculated still further to inflate the already sufficiently high prices of coal. Until the breach is repaired, and navigation restored, ebipments on the Lebigh will necessarily be restricted, with a dminished force of boats, to the supply of the demand on the Lebigh and Morris Canals, and of the New. York market by the latter avenue. The occurrence of the breach is one more in addition to the many similar cases demonstrative of the urgent necessity for extensive repairs and improveme to the State Canal From the Schuylkill region the tunnage has increased the past week, especially by the Reading Railroad, which reports 36,561 tuns, making for the season 1,813,237 tans, against 1,431,286 tuns to the same time last year. The Navigation Company, for the week, reports the tipment of 14,478 tuns, and for the season 792,978 tuns against 752,432 tuns to the same time last year. We have a report here that the combination formed a few weeks ago in the Schuylkilt region to restrain shipments of coal. has been dissolved, and that for the remainder of the season we may expect the usual supply. Such is the report." The Rockland (Me.) Advertiser give a most singular excuse for the stoppage of the Shipbuilder's Bank of that place. A new Board of Directors had recently been chosen who knew nothing of the affairs of the institution, and bills which they supposed " were in circulation to the amount of $107,000 over "and above its legitimate issue were ones that had "been printed on such poor paper as to be unfit to go "into circulation, and were burnt up in March last, a record of which transaction was duly made." The bank, it understands, has at the present time % circulation of about $30,000, and has due it from its customers in good notes not yet matured about $160,000. There seems to be considerable stringency in the Montreal and Quebec money markets, and we learn of one large and several smaller failures at Montreal; the former with liabilities amounting to £300,000. The Cincinnati Gazette states that Mr. Beckel of Dayton, who has been engaged extensively in railroads, banks, turnpikes, &c., has been in trouble for two weeks past, and was finally forced to suspend on Tuesday last. The Gazette says: He owned the Miami Valley Bank of Ohio, the Wayne County Bank of Indiana and another Indiana Bank, the name of which we do not recollect. He is also principal owner of several turnpikes, and is a heavy stockbolder in various railroads; besides which he has a large amount of real estate. Unless his possessions were greatly overestimated, he will be able to pay all bis debts. The notes of the three banks referred to are secured by the deposit of State stocks." The Chancellor of the Circuit Court of Kenton County, Kentucky, has appointed three Commissionersto settle the affairs of the Kentucky Trust Company Bank of Covington, in lieu of the assignees selected by the Bank. The Commissioners are to give bond and security in the sum of $150,000 for the faithful performance of their trust. The question was raised as to the right of the Commissioners to take the notes of the Bank, and the powers of the Commissioners generally. The Court said that it had not made up i:8 mind as to the ability of the bill-holders who held the notes of the Bask before its failure, to offset such notes against the bills they owed in bank. That question was reserved. The Court held, however, that those who had go: possession of the notes after the failure of the Bank, could not pay their debts to the bank with such Kentucky Trust Company notes, because the charter of the bank requires that all the creditors of the bank shall be paid pro rata. The effect of this order is to make the debtors of the bank pay their debts in gold and silver, and not in the depreciated paper of the bank. The late President of the bank has published a card, in which he says the notes will be worth seventy-five cents on the dollar.
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The Money Crisis. That we are in the midst 01 a money crisis, more frightful shan has been witnessed since the days of Van Buren's administralion, no ohe will pretend to deny. The causes which have operated in bringing it about are not quite so apparent to all. Without attempting to glance at the probable causes of our present distress, we propose in this article simply to condense the statements in circulation, arming to arrive as near the wuth as possible. Exaggeration, alarm. and false statements only tend 10 increase the panic ten-fold. We have noshing new in regard 813 New. port Safety Fund. The affeirs of she Bank are in she hands of Trustees, who are col. lecting together its assets. preparatory to the redemption of iss bills. It is thought bv some the 90 cents on the dollar will be reniized, and by others, not over 50. The market price of these bills in New York city is 40 ceris on the dolla The Chancellor of the Circuit Court of Kenton County, Kenwcky, has appointed three commissioners to take charge of the ffecis of the Kentucky Trust Company Bank in Covingion. viz: Judge Kinkead. Mr. Hinnel and Mr. Winston, of Covingion, The Court held that persons owing the Bank. and who got possession of the notes after the failure, could not pay their debis to the Bank wish them. This will stop the pur hase of the notes at a discount by the debs. 115m, as has generally been done in similar
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suspended within a few months past. For the benefit of our readers, in these times of bank suspensions, we shall keep it standing, and make weekly additions thereto: Lewis County Bank, of New York. Carthage Bank, do Milrose Bank, do Drovers' Bank, do Bank of Carmel, do Ogdensburg, do Exchange Bank Buffalo, do Patchin Bank, Buffalo, do Eighth Avenue Bank, do Bank of West Killingly, Connecticut. Bank of Ellsworth, Maine. Bank of Circleville, Ohio. Clinton Bank of Columbus, Ohio. Canal Bank of Cleveland, do. Miami Bank, Dayton, do. Woodbury Bank, Connecticut. Shipbuilders' Bank, Maine. Merchants' and Mechanics's Bank, Chicago. Union Bank, Chicago, Ill. Knickerbocker Bank, do Farmers' Joint Stock Bank, Buffalo, N. Y. Farmers' and Mechanics' Bank, Oswego. Farmers' Bank of Canandaigua. Farmers' and Merchants' Bank, Maryland. Merchants' Bank of Macon, Georgia. Milford Bank, Delaware. Merchants' Bank Burlington, Vermont. River Bank Connecticut. Cumberland Bank, Maine. Kentucky Trust Company Bank, Covington. Newport Safety Fund, Covington, Ky. Commercial Bank, Paducah, Kentucky. Trans Allegheny Bank, Virginia. Kanawha Bank, Va. Massillon Bank, Ohio. Ohio Savings Institute, Tiffin. Cochitute Bank, Boston. Elkhart county Bank, Indiana. Bank of Northern Indiana. Bank of Washtenaw, Michigan. Erie and Kalamazoo Bank, Michigan. Arlington Bank, Washington, D. C. Bank of Connersville, Indiana. Bank of Hallowell, Maine. Akron Branch, Ohio. Merchants and Trader's Branch, Cin., O. City Bank, Columbus, Ohio. Commercial Branch, Toledo, Ohio. Ashtabula Branch, Ohio. Napersville Bank, Illinois. Merchants Bank, Bridgeton. Government Stock Bank, Ann Harbor, Mich. Cuyahoga Falls Branch Bank, O. Licking Branch Bank, Ohio. Phoenix Bank, Chicago, Illinois. Du Page county Bank, Illinois. Bank of Ottawa, Illinois. State Stock Bank, Peru, Indiana. Stock Bank, Lafayette, Ind. Bank of Elkhart, Plymouth Bank, Fayette county Bank, Delaware county Bank, Logansport Insurance Company, Indiana. Indiana Stock Bank, Laport. Savings Bank, Cincinnati. Scituate Bank, Rhode Island. Wollborough Bank, New Hampshire. Bennington Bank, Vermont. Monsum River Bank, Maine. Bank of Ellsworth. Bank of Milford, Delaware.