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LARGE FAILURE -A correspondent of the Bos ton Post, writing from Bangor on the 9th instant, says that there is much excitement in that city ari ing from the failure of the Ellsworth Bank of Maine, and of the suspension of Cooper & Co. of Bangor.
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LARGE FAILURE.-A correspondent of the Boston Post, writing from Bangor on the 9th instant, says that there is much excitement in that city arising from the failure of the Ellsworth Bank of Maine, and of the suspension of Cooper & Co. of Bangor.
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ANOTHER BANK SUSPENSION.-"The Ellsworth (Maine) Bank is reported to have suspended," says a correspondent of the Boston Post.
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ANOTHER BANK SUSPENSION.-The Ellsworth (Maine) Bank is reported to have suspended," says a correspondent of the Boston Post.
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CAUTION ABOUT MONEYS SENT FOR THE ERA. We have said that we prefer the notes of Eastern to those of Western Banks, where our Western subscribers can obtain them without loss. If this be impossible, send us the notes of the State Banks or their branches in the Western States. The brokers here will not buy the issues of your free banks. We call attention to the following list of banks that have broken or suspended, or whose notes are not taken, reported in Thompson's Detector of October 21st: Farmers' and Merchants' Bank, Memphis, Tennessee. Bank of Washtenaw, Omarba, Michigan. Bank of Milford, Milford, Delaware. Erie and Kalamazoo Railroad, Adrian, Mich. Adrian Insurance Company, Adrian, Mich. Ellsworth Bank, Ellsworth, Maine. Eighth Avenue Bank, New York city. Knickerbocker Bank, New York. Suffolk Bank, New York citv. Newport Safety Fund, Covington, Ky. Union Bank, New York city. Kentucky Trust Company, Covington, Ky. Don't send any of these.
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From Thompson's Reporter, Oct. 21. List of Banks which have Recently Failed Farmers' and Mc rehants' Bank of Memphis, Tenn., failed Aug. 16; no sale. Bank of Washtenow, Ann Arbor, Mich., failed Aug 21 ; no sale. Bank of Milford, Milford, Del., failed Aug. 21 ; no sale. Monsum River Bank, Sanford, Me., thrown out by the Suffolk Bank, Sept. 27; no sale. Erie and Kalamazoo Railroad Bank, Adrian, Mich., failed Oct. 6; no sale. Adrian Insurance Company, Adrian, Mich., failed Oct. 6; no sale. Ellsworth Bank, Ellsworth, Me., thrown out by the Suffolk Bank Oct. 6; no sale. Eighth Avenue Bank, N. Y. City, failed Oct. 6; 20 per cent dis. Knickerbocker Bank, N. Y. City, failed Oct. 12 ; 20 per cent dis. Suffolk Bank, New York City, suspended Oct. 12; par. Newport Safety Fund Bank, Newport, Ky., failed Oct. 16; no sale. Kentucky Trust Company, Covington, Ky., failed Oct. 18; no sale. Bank of Union, New York City, closing; par.
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CAUTION ABOUT MONEYS SENT FOR THE ERA. We have said that we prefer the notes of Eastern to those of Western Banks, where our Western subscribers can obtain them without loss. If this be impossible, send us the notes of the State Banks or their branches in the Western States. The brokers here will not buy the issues of your free banks. We call attention to the following list of banks that have broken or suspended, or whose notes are not taken, reported in Thompson's Detector of October 21st: Farmers' and Merchants' Bank, Memphis, Tennessee. Bank of Washtenaw, Aun Arbor, Michigan. Bank of Milford, Milford, Delaware. Erie and Kalamazoo Railroad, Adrian, Mich. Adrian Insurance Company, Adrian, Mich. Ellsworth Bank, Ellsworth, Maine. Eighth Avenue Bank, New York city. Knickerbocker Bank, New York. Suffolk Bank, New York city. Newport Safety Fund, Covington, Ky. Union Bank, New York city. Kentucky Trust Company, Covington, Ky. Don't send any of these.
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MONDAY MORNING, NOVEMBER 6, 1854. # The Money Panic. Brokers are interested in the depreciation of paper money, and people are too apt to become alarmed by the panics these brokers have the power of creating. As an instance of this fact, we give a few items below in connection with the reported failure of several of the Maine Banks. J. Thompson, a broker of New York, the gentleman who publishes the "Bank Note and Commercial Reporter," and one who is generally considered good authority in connection with money matters, publishes the following telegraphic despatch in his issue of Oct. 28th: BOSTON, Oct. 25. The "Bank of Hallowell, Maine"; The "Ship Builders' Bank, Maine"; The "Brunswick Bank. Maine," are thrown out by the Suffolk Bank. The date of the despatch, 25th October, will be observed. On that same day, the "Maine Farmer," published at Augusta, was sued for libel by the Ship-Buiiders' Bank, for having fallen innocently into the Brokers' trap, and denouncing that instution as having failed. On the 26th the editor of the Farmer "owns up" that he was deceived, in the following manly style: "We are informed that the Bank has been very much troubled by the rumor of its failure, and has been obliged to redeem its whole circulation--upwards of $90,000. Any one who has been at all conversant with the course of the Farmer, must know that the libel with which we are charged was entirely the result of accident on our part, as it has ever been the rule of this establishment to refuse admittance, upon any conditions, to any and all articles reflecting upon individuals or companies of whatever character. These are the facts in the case--and now, having done all in our power to make amends for the unintentional evil suffered through us, we rest our case, and await the decision of the Court in the matter." The report of the failure of the Hallowell Bank now proves to have been gotten up for the purpose of accomplishing the success of certain political movements in Wisconsin. A certain journal published in St. Paul, of very limited circulation, but under the control of well-known bankers here, "let the cat out" on Friday morning, by coupling the reported failure of the Hallowell Bank, in a most disgraceful and libelous manner, with the name of C. C. Washburne, of Mineral Point, Wisconsin. The next time the journal alluded to mishes to make political capital, and shinplaster capital, for its especial favorites, it had as well be somewhat more careful. The solvent condition of the Hallowell Bank, if it needs more to sustain it than we published on Saturday, is well shown by the following note received too late for our Saturday morning's issue: "WINSLOW HOUSE, ST. PAUL. Friday Evening, Nov. 3. EDS. MINNESOTIAN:--Will you do me the favor to correct the report of the failure of the Bank of Hallowell, Maine. It is not true. I will, with pleasure, furnish current bills or drafts on the East for any and all amounts which may be presented. Yours truly, DORILUS MORRISON." We presume the Pioneer can find out who Mr. Morrison is, by enquiring of Corwith & Co. Galena, B. H. Campbell & Co., same place, or even of any of its own particular friends in St. Paul, Galena, or elsewhere. ELLSWORTH BANK. The mere fact that an Eastern Bank refuses to pay tribute to the Suffolk Bank, Boston, is no valid argument in proof of its insolvency. This appears to be the only difficulty with the Ellsworth Bank, which has, in common with two other of the soundest Banks in Maine, been bruited all through the West recently, as having failed. The Boston Daily Mail says: "Bills of Ellsworth Bank. of Ellsworth, Me., are not received at the Suffolk Bank. We are not advised that there is any doubt of the solvency of the Bank." The Indiana State Sentinel addresses the holders of the notes of the Northern Bank of Indiana at Logansport, and the Bank of Connersville, lately suspended, not to sacrifice them, as the securities on file in the Auditor of State's office are amply able to protect the bill holder. BANK OF CIRCLEVILLE.-A foolish rumor (says the Cleveland Herald) was put in circulation that the Bank of Circleville had failed. Cashier Foot this morning telegraphed to the Bank. and has received the following reply:" All right, reports are false. O. BALLARD, Jun., Cashier." KALAMAZOO BANK. We learn that this bank. located at Albion. Ind., and owned by ex-Gov. Ransom. of Kalamazoo, in this State, has made arrangement to have its notes redeemed in this city, by J. L. Lyell, at one per cent. discount, and also at Indianapolis, Ind.. Cleveland, Ohio; New York city, and also at Kalamazoo. Detroit Advertiser. LAKE SUPERIOR. A correspondent of the Cleveland Herald says:-" There is probably at the present time no part of our country attracting more general attention than Lake Superior. The copper which extends its rich veins-I might almost say-everywhere, and the huge mountains of iron ore, have attracted the eyes of capitalists. The developments of mineral wealth are astounding; discoveries are being made almost daily of new veins promising rich results, and companies formed of substantial, enterprising men. are pushing forward the work vigorously. The earth can no longer conceal her precious wealth, her bosom is opened, and she is made to reveal what she possesses. The Cliff and Minnesota-the two mammoth mines of the upper peninsula--are taking out masses of copper unheard of in the history of mining; silver, too, is found in large quantities, and forms no unimportant item. Aside,
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CAUTION ABOUT MONEYS SENT FOR THE ERA. We have said that we prefer the notes of Eastern to those of Western Banks, where our Western subscribers can obtain them without loss. If this be impossible, send us the notes of the State Banks or their branches in the Western States. The brokers here will not buy the issues of your free banks. We call attention to the following list of banks that have broken or suspended, or whose notes are not taken, reported in Thompson's Detector of October 21st: Farmers' and Merchants' Bank, Memphis, Tennessee. Bank of Washtenaw, Ann Arbor. Michigan. Bank of Milford, Milford, Delaware. Erie and Kalamazoo Railroad, Adrian, Mich. Adrian Insurance Company, Adrian, Mich. Ellsworth Bank, Ellsworth, Maine. Eighth Avenue Bank, New York city. Knickerbocker Bank, New York. Suffolk Bank, New York city. Newport Safety Fund, Covington, Ky. Union Bank, New York city. Kentucky Trust Company, Covington, Ky. Don't send any of these.
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LIST OF BANKS WHICH HAVE REC ENTLY FAILED.-Thompson's Bank Note Reporter gives the following list of suspended Banks: Farmers' and Mechanics' Bank of Memphis, Tennessee failed Aug. 16. Bank of Washtenaw, Milford, Delaware, failed August 24th. Erie and Kalamazoo Railroad Bank, Adrian, Michigan, failed Oct. 6th. Adrian Insurance Company, Adrian, Michigan, failed October 6th. Ellsworth Bank, Ellsworth, Maine, thrown out by the Suffolk Bank, October 6th. Eighth Avenue Bank, New York city, failed Oct. 6. Knickerbocker Bank, New York city, suspended on the 11th of October. Suffolk Bank, New York city, suspended Oct. 12. Newport Safety Fund Bank, Newport Kentucky, failed October 16th. Kentucky Trust Company, Covington, Ky. failed October 15. Bank of the Union, New York city, closing.
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LIST OF Banks WHICH HAVE RECENTLY FAILED,-Thompson's Bank Note Reported gives the following list of suspended Banks: Farmer's and Manchanics' Bank of Memphis, Tennessee failed Aug, 16. Bank of Washtenaw, Millord. Delaware, failed August 24th. Erie and Kalamazoo Railroal Bank, Adrian, Michiganfailed Oct. 5th. Adrial Insurance Company, Advian, Michigan, failed October 6th. Ellsworth. Bank, Ellsworth, Maine, thrown out by the Suffolk Bank. October 6th. Eighth Avenue Bank, New York city, failed Oct. 6.Knickerbocker Bank, New York city, suspended on the 11th of October. Suffolk Bank, New York city, suspended Oct, 12. Newport Safety Fund Bank, Newport Kentucky, failed October 16th, Kentucky Trust Compan Covington, Ky, failed October 15th Bank of the Union, New York city, closing, A dispatch bearing date Boston Dec I says It is stated that the stock bank at Bennington, Vt., which suspended last Monday may ultimately redeem its bills, the directors being held in bonds to the State to insure that result.The bills now sell 50cts on the dollar. We tender our thanksito the Cleveland Leader for an 'extra' containing a map of Sevastopol. It shows the Town, Forts. Harbors, &c. so that by a glance upon it, one can read the description of the battles at that place, understandingly. The Leader never fails tofurnish its readers with what is most interesting and profitable. It is one of the foremost dailies of the West.
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ple property, whose reputation as a busimess ,man depends upon his making the Bank safe and reliableoWe understand that all his movements, since the trouble with the Bank some months ago, have been wise and judicious. The circulation of the Bank is small. Its store of speice is ample, to meet its bills, and the story got afloat concerning it is cruel and cowardly. The bills are 18 . in the Suffolk Ba: in this city, and at in Boston, and our busine people when they receive them, may be assured that they have got bank bills as good as any in the market. In addition to the above, the following from the Bangor Whig, a paper holding a high position throughout New England and one which would not lend itself to speak either well of ill of any incorporation, from an improper motive: "With regard to this matter. I can only say that last Saturday, after taking care of the redmption of the week, about $10,000, the Grocer's Bank, ( Boston ) made a balance against us of $1,652 43, after which they say, "We have just received $7,000, which is not included in the above bill, and then send a certificate of deposite for $2,500, making $9,500, from which deduct the amount of debit, $1,652 43, leaves $7,847 67, and we have deposited since about $9.000making a balance of $16,847 57, and at the same time, they held about $9,000 oi good paper belonging to us, and due this month, You will therefore perceive that we were and are in shape to redeem at Boston. Our circulation now, is only about $50,000. The extract from the Cashier's letter, as the Whig says, was not intended for publication and therefore is entitled to the highest confidence. Yet Mr. Chamberlain is too well known for any one to suppose he would give anything but facts whether intended for publication or private perusal. We earnestly hope there will be no more panic about the Ellsworth Bank. It is now in a much more prosperous condition than before its temporary suspension.
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THE MINNESOTIAN. SATURDAY MORNING, MARCH 10, 1855 The Maine Banks. A Maine friend has placed in our hands a copy of the annual report of the Bank Commissioners, made to the Legislature of that State for the year 1854. From it we learn that there are thirty-one Banks in operation within the State, thirteen of which were chartcred by the Legislature of 1854, adding to the banking capital of the State the som of $587,252, and making a total of $7,301,252.00. The circulation during the past year has not kept pace with the increase of capital, it being now but half a million more than it was last year, while the capital is nearly a third greater. The deposits are now larger than at any former period. The profits are also considerably increased.The Commissioners report favorably on all the Banks in the State, excepting the Shipbuilders at Rockland. This Bank has been less fortunate in the management of its affairs. It has sustained a loss of nearly $27000 in bad debts for the year. The Directors seem to have entrusted its affairs too much to the manage of the Cashier, who has most shamefully abused the confidence reposed in him. The books of the Bank show unmistakable evidence of having been falsefied from the beginning and it is impossible to ascertain from them with any degree of accuracy the amount of bills in cirulation. This can never be known until the bills are all in. Itis expected, however. that fifty per cent. of the capital will be saved, but the Commissioners do not feel sanguine, and admit the possibility that the whole capital may be lost. A gentleman, who is President of one af the soundest and best Banks in Maine writes one of us that the concerns of the Bank will be speedily wound up, and be the loss however heavy it may upon the stock, that every bill in circulation will eventually be redeemed do llar for dollar. However true this may be, the bills of the Bank must, for the present, be reckoned at a very low value. If we held the bills to any considerable amount, we would not sacrifice very largely on them until further advised. Notwithstanding the depression of the com mercial interests in that State in common with therest ofNewEngland,and the feverish state of the country in regard to Bank suspensions but three of the Banks of Maine-the Hallowell, Ellsworth and Shipbuilders-have failed or neglected to redeem at the Suffolk. We copy from the report, as follows: "Though a Bank ceases to redeemat the Suffolk, it by no means follows that it has failed ; yet it is generally SO regarded-for its bills at once become depressed in valve at the place towards which they naturally flow-in the way of trade-and the free circulation is almost instantly stopped. If it continue to redeem at the counter, the influence of such suspension is felt by all the Banks of the State-causing a with drawal of deposits and of specie, and a loss of confidence in monied institutions. The Bank of Hallowell is the only one that did not make an effort to be restored to favor at the Suffolk-after having been thrust aside. This bank is owned-mostly-and controlledby men of wealth and of good business capacity and the failure to redeem in Boston was not owing to inability to supply necessary funds.They have not ceased to pay all bills at their counter, and we understand that they provide for their redemption at New York-at a discount. The Ellsworth has provided liberally for its liabilities, and the bills are again current.The Bank is in the hands of men of integrity, ability and wealth ; and we doubt not that it will go on, doing a prosperous besiness-deserving and receiving the confidence of the public. There isone very remarkable fact, in the management of our Banks, that deserves a passing notice. With very few exceptions, all the officers, besides Cashiers and assistants, serve without compensation. In some cases the President gives daily attendance to the business of the bank, and bestowsan amount of labor that might be reckoned by months. It gives the Commissioners pleasure to state that our banks seem to be under very creditable management, and that they may be reckoned as safe as any others in the country.Generally their operations have been confined within the limits of the law, and there have been but few, ifany, instances of an excess of circulation. and but a trifling excess of loan for a short period. 'It is manifestly for the interest of the Banks themselves that the laws should be scrupulously observed, even though they might secrue a temporary advantage from their infraction.' As an evidence of their good management, with the exception OI the Shipbuilders' Bank, they have very few bad or doubtful debts; not enough to effect their semi-annual dividend. In conclusion we would say, that our Banks were never more deserving of the confidence of the public than at the present time. While a panic in money matters prevails to a considerable extent in many places, our Banks go steadily on, hardly feeling any 'pressure' or interruption of their ordinary business and though their loan and circulation are large, their paper is well secured, and they have provided liberally for the redemption of their bills in Boston, besides holding a large amount of speciein their vaults. CARIMONA.-This new and promising town, situated in the heart of the rich and beautful
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The business of the Clearing house was $17,897,000. The demand for currency which existed in the early part of the season, at the West, for the purpose of moving the crops, induced some of the Eastern banks to extend themselves largely, and the currency having returned more rapid'y than was convenient, the comeoquence has been difficulty in redemptions and discredit at the Suffotk Bank. The continued decrease is the specie line of the Boston banks had prepared us for some trouble in that quarter, but we did not look for so large is brood of bank discredits at one time. Aa Extra from Thompson's Reporter says: THOMPSON'S BANK NOTE REPORTER OFFICE, Friday Evening, Nov 23, 18% Telegraphs from Boston inform us that the Suffolk Bank has discredited or thrown out the notes of the following New-England Banks, viz: Orono Bank, Maine; Searsport Bank, Maine; Ellsworth Bank, Maine; Barl of Royalton, Vermont; People's Bank, Vermont; Monson Bank, Mass.; Rhode Island Cen tral Back. The Rank of Royalton" above is & chartered bank, and should not be confounded with the South Royalton Bank," which is a free and wed secured bank. The Monson Bank" above should not be confounded with the Mousam River Bank," of Maine. Itroes not follows that these banks fail; indeed we shall be disappointed if the Suffolk Bank does not, in & very few days, again take a large proportion of them. The holders of notes of the above backs will be wise not to sacrifice by & precipitate sale, for we cannot conceive that any bank which was sound a year ago can be insolvent now. At the Metropolitan Bank the Rhode Island Central. Searsport, Ellsworth and Royalton Banks are thrown ont. The brokers were buying the notes only at a large discount, but holders did not appear disposed to sacrifice them. There was a good deal of excitement to day in Beeton, which, if it degenerates into a panio, will doubtless increase the above list. The Orono, Searsport and Ellsworth Banks were correspondents of the Grocers' Bank of Boston, the embarrassment of which caused its refusal to receive the notes of those banks from the Suffolk, as It has heretofore done. In the case of the Grocers' its circulation is being rapidly redeemed and its deposits have frun down to $100,000. It pays promptly, If wound up it is believed there will be Fitt e or no loss to the stockbo ders. Judging from the last report of the Boston banks $2,100,000 only of coin with a line of loans of over $51,000,000, the specie too being almost the entire basis of the operations of all the New. England banks it is very evident there must be considerable contraction before a safe position can be attained. The aid rendered by the Suffolk Bank to its country correspondent bar be is shown by the fact that the discount line has run down to $1,185,000 only 181 . cent more than its capital, while the deb's due to it from other banks have increased to $1,985,000 or 981 P cent more than its capital and the amount due by the Suffolk to other banks is reduced to 6 fraction loss tban half & million of dollars. The earnings of the Indianapolis and Cincinnati Railroad for Oe ober were: $29,895.79 Mail end Express $1,202,08 Passengers 16 753 33 331 Freight $47,851.20 Total $33,944.78 For October, 1854 $13,906 47 Increase The price of Panama Railroad stock has risen cent within a short time, in consequence of the improved prospecte for a large dividend in January. The receip's in October were $120,000, and the November business, it is supposed, will be about the same The earnings for July, August, September and October were $382,057-leaving about $225,000 to be earned in November and December to meet the estimate of Col. Toten. The freight business, especially in express freight, is continually increasing, and the coal transportation has largely exceeded the estimates of the company. The Pacific Steamship Company will dispated, on the 12th January next, & freight steams from San Francisco, teuching of be ports all along the coast to Pasama,
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FINANCIAL AND COMMERCIAL. MONEY MARKET. SUNDAY, Nov. 25-6 P. M. The stock market during the past week has been very unsettled. Prices have fluctuated considerably, and operators on both sides of the account have had at times the movement in their favor. The arrival of later European advices gave for the time an upward impetus to the market, but it was not of long duration. In the midst of the inflation the announcement that several Eastern banks had been dissontinued, caused a reaction, and stocks receded full as much as they had previously gained. The apprehension that the New England banks, which had been flooding the West with their currency, had strained a point too much, and that several failures would follow, WAS visible among speculators, but It did not last long. It served to show how sensitive the public mind was, and how easily it was affected. This fact shows how dangerous it is to operate in fancy stocks for a rise. Almost any day something may occur to disturb confidence and produce a temporary panic, and seatter speculators like 80 many frightened fawns. It is, therefore, best to deal in nothing but what has real value, and has dividends in the prospective large enough to cover interest at least on the investment. Such stocks are not much affected by the bugbears of the day, and holders are not troubled by any temporary depreciation in market value. There were no shipments of specie from this port last week, and none that we hear of from Boston. There was a decrease in the Sub-treasury last week of $540,883. Notwithstanding this favorable movement, we do not look for any increase in the specie department of our banks in the next weekly statement. We have been sending specie out in almost every direction except across the Atlantic. Boston has been drawing from us largely, and considerable has gone South and West. The advices by mail from Europe are not NO satisfactory 0.8 reported by telegraph. The improvement in Consols and other stock securities are reported as entirely artificial while the probability of a drain of bullion continuing is as strong 165 ever. Payments on account of the Turkish loan, it was stringency in money matters, expected, would cause and keep up the exportation of specie. It appears that another arrival of gold from Australia bad been sent into the Bank of England, whi prevented the returns for the week ending Nov. 3 showing reduction in buttion. It was expected that the next monthly statement of the Bank of France would show a large and steady drain of specie. We shall not get the official returns until the next Curard steamer to Halifax. The anthracite coal trade has fallen off considerably the past week, particularly from the Schuylkill region. The shipments on the Lehigh Navigation for the week ending OR Saturday last were 33,751 tons, and for the 1,238,820 tons. The shipments by the Schaylkill Navigation Company for the week ending on Thursday were 30,413 tons, and for the sesson 1,045,092 tons, against 872,312 tons to corresponding time last year. The Reading Railroad brought down for the week ling on Thursday, only 29,388 tons, and for the season 2,188,154 tons, against 1,940,768 tons to the same time last year. The whole tonnage for the week from the Schuyl kill was 59,801 tons, and including that of the Lehigh, only reached 93,552 tons. The season, now protty well over, has been one of the most productive in many years for the carrying companies. There has been little or no interruption to any one of them from any cause, and prices, all things considered, have been more remuners. tive than ever before. The aggregate tonnage has been largely increased. The Boston Journal of the 23d inst says:The Grocers' Bank has promptly redeemed every de. mand made upon it, and will continue to to The bills are paid in specie on presentation The deposits have been reduced to about $100 000, and the circu att LA coming in rapidly. Should it be deemed best to wind up the affairs of the bank, it is confidently believed by those who have given its accounts a thorough investigati n, that but little if any loss can accrue to stockholders. An amount sufficient to redeem every liability of the bank matures in loans previous to January 1. We understand that bills of the Orono Bank, Searsport Bank. Ellsworth Bank of Maine, and Derby Line Bank, of Vermont, were refused yesterday by the Grocers', where they have bitherto been redeemed as fast as presented from the Suffolk. This will of course involve their refusal by the Suffolk. It should be understood however, that this is in consequence of an accidental over draft on the Grocers', which under other circumstances would have protected them, and doe not affect the safety of the bills mentioned. The result will be probably a delay of two 05 three days in the redemp In of the bills bere, until the banks have time to remit funds for their protection. The annexed communication from a stockholder, rets tive to the dishonest management of the Nicacagua Fran sit Company, is pointed and deserved. That men interested in such a concern will quietly look on and Fee a clique of financiers and speculators use their property, year after year, solely for private parposes, 1a even at this day, most extraordinary. Schuy er had the credit of managing the New Haven Railroad Company judiciously up to the last moment of his administration and the stockholders have nothing to blame but their neglect and blind confidence; but in the Nicaragus Transit Company it is 18 clear as day that a set of leaches have Exed themselves upon its vitals, and will only let go their hold when completely gorged. The following stidetures of a stockholder are perfectly correct; but as those most interested have the remedy in ther own hands, some action should be taken in the matter, and Fee If some change cannot be made before the meat is all extracted from the shell. It has been reported that arrangements were about being made to amalgamate the Pacific Mail Stesmship Company and the Nicaragua Transit Company, and we should think there might be some truth in It, but from the that such an arrangement would scatter the existing horde of leeches distributed along the line of the Nicaragua Company, from New York to San Francisco, both inclusive extracting Its substance at every pore. An amalgamation would be the best thing in the world for the Transit stockholders, as it would compel the present managers to give up their fine pickings. It is too good . goose to pluck to let go out of their hands. It has laid many a golden 'gg. which have gone into their pockets, and they will not part with It 90 long as the stockholders rest quiet under the squeezing process. Our correspondent clearly exposes some of the financiering operations of the past fifteen months. The Indianapolis and Cincinnati Rafiroad Company
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Bank Troubles. Banks. - We learn that the following Banks are thrown out at the Suffolk Bank, in this city: Orono Bank at Orono, Ellsworth Bank'at Ellsworth, and Searsport at Searsport, Me.; Royalton at Royalton, and The Peoples' at Derby Line. Vt.; Rhode Island Central at Greenwich, R. I. The New England Banks who have exported their issues to the West to winter, are receiving them back a little before the contract provided.-Boston Courier. The community were thrown into some excitement, a few days ago, by a report that bills on the Bank of Royalton, the People's Bank at Derby and some others, were not received at the Suffolk Bank in Boston, in cons. quence of a failure on the part of said Banks to redeem their paper. It soon appeared, however, that there was no real trouble with the Banks themselves-that the whole difficulty arose from the failure of the Grocer's Bank in Boston, acting as agent for the Royalton and other Banks. The bills of Royalton and Derby are now received regularly, there having been a suspension of only one day. These institutions are sound. - Journal. w Since the above occurrence, the Grocers' Bank (Boston,) has been closed by the Massachusetts Bank Commissioners. Billholders, however, are advised that the bills will eventually be redeemed.
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THE Bank PANIC.-The troubles about the Eastern Banks appear to have subsided. The Suffolk writes to the Metropolitian that all but (perhaps) the Ellsworth will be taken again in a few days, the Orono and Royalton are already. A leading banker writes under date of Saturday as follows. "I Fee your papers are making a panic a. bout Eastern banks. The only trouble which has happened has been with the Grocer's Bank, and certain country banks, whose bille were not taken by the Suffolk Bank for a day or ino, but they have now all made other arrangements. and the matter is now entirely settled. Money is again easy here, and the " hole trouble is over."
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Bank Commissioner's Report. From a copy of the annual report of the Bank Commissioners of the State, we annex so much of it as relates to the banks in this county :BUCKSPORT BANK. $75,000,00 Capital, 75,130,00 Circulation, 8,208,95 Deposits, 2,391,46 Profits, 96,00 Dividends unpaid, $140,826,41 12,225,93 Sepecie, 2,594,80 Bills of other Banks checks, &c., Due from other Banks. 10,172,02 115,833,66 Loan, $140,826,41 Amount of paper discounted during $583,031,00 the year, 10,168,00 Amount of paper suspended, Dividends in April and October, 4 6,000,00 per cent. each, ELLSWORTH BANK. $125,000,00 Capital, 6,789,00 Circulation, 1,949,55 Due Depositors, 30,416,25 Bills payable for money hired, $164,154,80 $278,00 Specie, 144,021,38 Loan, 7,348,32 Due from other Banks, 4,900,00 Stock of Bank, 7,607,10 Stock from J. M. Mayo, The Commissioners make the following remarks concerning this Bank :" This bank, within the last three years, has sustained serious losses, and is winding up its business as rapidly as its interest will allow. Its management is in the hands of me, of ability, who are endeavoring to secure for the Stockholders as much as they can from the mortgages and securities which the bank holds, It will be seen that less than $7,000 of its bills were outstanding at the time of our examination, October 6, 1856. Deeming the property of the bank fully adequate to redeem its circulation, we regard the public as safe from loss. It has discounted no paper since January 16, 1856."