Bank of New York (New York, NY)

Episode Information

Episode UID
1000170694
Episode Type
Run β†’ Suspension β†’ Unsure
Bank Type
state
Bank ID
100017 routing
Routing Number
1-0001
Start Date
October 13, 1857
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
aa6ce785198c61ef

Response Measures

None

Description

Judge Roosevelt denied a motion to appoint a receiver for the Bank of New York; ultimate reopening not shown in these articles.

Events (2)
1. October 13, 1857 Run
Cause
Macro News
Cause Details
Widespread 1857 financial panic and runs on multiple New York banks (panic following railroad and broader credit shocks) led depositors to withdraw specie
Measures
Certified checks after specie exhausted; paid out large sums until gold ran out
Newspaper Excerpt
Bank of New-York continued to pay demands until ? o'clock, when the run became so great that they ran out of gold
Source
newspapers
2. October 13, 1857 Suspension
Cause
Macro News
Cause Details
Suspension was part of the general, city-wide suspension of specie payments amid the 1857 financial crisis and heavy concurrent runs on banks
Newspaper Excerpt
Up to two o'clock, fifteen city banks had suspended, of which the following is a revised list, viz: Bank of New York ...
Source
newspapers

Newspaper Articles (20)
1. October 14, 1857 Western Reserve Chronicle Warren, OH
Article from Western Reserve Chronicle, October 14, 1857

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Financial Matters. The money panic rather increases than diminishes, but we think it has about reached the worst. Most of the Pennsylvania banks have suspended specie payments. The Legislature of Pennsylvania is now holding an extra sossion to take into consideration measures for financial relief. The following is the latest money news from New York: New YORK, Oct. 13. The following banks have suspended to-day: Marine, Ocean, Merchant's Exchange, N. Y. Exchange, North River, Irving, Citizen's, Chatham, Bull's Head St. Nicholas and Market Banks. There is a general run on the Wall street banks and intense excitemeni in the street.Policemen are stationed at many banks to preserve order. NEW YORK, Oct. 13. To-day has been a very exciting one in financial affairs. Up to 2 o'clock 15 city banks had suspended, the following in addition to those given above: Bank of New York, Artizan's, Butcher's and Drovers and Tradesman. The Marine it is said was stopped by an injunction procured by one of its customers, and it is presumed other banks have been stop ped in the same way, as by this means the penalty of winding up which is at. tached to suspension, is evaded. It is believe that suspension in most cases is but temporary. This state of affairs when generally known will undoubtedly serve to allay the present undue excitement.. All the Ohio Banks are paying specie, and there has been little excitement in any part of the State. Ohio has the best currency in the Union.

2. October 14, 1857 Worcester Daily Spy Worcester, MA
Article from Worcester Daily Spy, October 14, 1857

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Monetary Matters in New York-Great Excitement. NEW YORK, Oct. 13.-Today has been a very exciting one in financial matters. Up to two o'clock, fifteen city banks had suspended, of which the following is a revised list, viz: Bank of New York, Artizans', St. Nicholas, Chatham, Ocean, Market, Butchers' and Drovers', Merchants' Exchange, Irving, Citizens', Tradesmen's, Bull's Head, New York Exchange, North River, and Marine. The latter, it is said, was stopped by injunction procured by one of its customers, and it is presumed other banks have been stopped in the same way. By this means the penalty of winding up, which is attached to suspension, is evaded. It is believed that suspension in most cases will be but temporary. This state of affairs, when generally known, will undoubtedly serve to allay the present undue excitement. Wall street, at two o'clock, was crowded with an anxious mass of people. The steps of all the banks were also blocked up by people forcing their way into the banks. At the American Exchange Bank, David Leavitt addressed the crowd, assuring them that that bank would pay all up to the last dollar. He also announced that an agreement had been made with several of the strongest banks, to go through without suspension. It is believed, however, in the streets, that the suspension will be general. It is understood that some of our heaviest Houses have withdrawn their gold from the banks and replaced it as a specie deposit. There were rumors during the morning, affecting nearly all the banks in the city, but the above list gives all that had certainly suspended up to 3 o'clock P. M. The others, it is believed, continued to meet their liabilities up to the clocs of businss hours. The sales of Railroad Stocks at the first board were small, at a general decline. In the State Stocks the business was large at a decline, ex cepting Virginia and Missouri. Bank Stocks all sold at a decline. The run on the Brooklyn Savings Bank was renewed today but with less vigor, the banks paying promptly. Several failures in the Dry Goods line are announced, but none of very prominent firms.

3. October 14, 1857 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, October 14, 1857

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Their loans were reduced $17,000 yesterday, and the specie $45,000. Bills receivable during the balance of this month, $500,000. LEATHER MANUFACTURERS' BANK. The Leather Manufacturers' Bank has closed its doers. MERCHANTS' EXCHANGE BANK. This Bank, located at No. 185 Greenwich street, suspended specie payments at 20 mnutes before 11 o'clock yesterday. During the time it was open, a large amount of specie was demanded and paid-our reporter could not learn the exact amount. The run upon this institution was mainly by depositors, and aton ded with much the same features as those already relat ed of the other banks. MANHATTAN BANK. The h 'ank of the Manhattan Company lost $140,000 in specie. MARINE BANK. The Marine Bank alosed its doors in the forenoon, in consequence of in in junction laid upon it by some of its stockholders. The hank needed only $40,000 to carry it through. Although it had ample security none of the Banks would land a dollar. It had NewYork stocks, but could not 2. aise $10,000 on $19,000 worth of them. MARKET BAN. 8. A very large crowd gathered 4 bout this back (located at the corner of Beekmen an d Pearl streets) as early as 11½ o'clock, and their effort to effect an entrance were 80 pressing that five polie emen found plen ty of employment in keeping the door ways passable. Depositors were present in strong force, and deposits were passed out to a great extent. But still 1 they came, and the stream of gold that passed from b ehind the deeks of the paying-tellers was dried up about 1 o'clock p. m. A notice was then stuck a, on the door, that the bank had suspended specie pey ment, but would remain open for the payment of notes. This gave great dissatisfaction to many among the crow outside, and some of them behaved 30 badly that the Police deemed it necessary to interfere to prevent a disturbance. MECHANICS' BANK. The Mechanics' Bank experienced a considerable run, commencing soon after 10. To checkholders they paid out notes as long as they lasted. Then they were compelled to pay everything in specie-in which about $130,000 was paid. MECHANICS AND TRADERS' BANK. The Mechanics' and Traders' Bank, in Grand street, paid every dollar up to 3 o'clock, the closing hour. MERCANTILE BANK. The Mercartile has nearly $60,000 less of specie in its (offers. MERCHANTS' BANK. The Merchants' Bank, out of nearly & million of speeie, paid $160,000. They paid out more bills than ever in any one day before. METROPOLITAN BANK, The Metropolitan Bank paid out something lover $200,000. NORTH RIVER BANK. This bank, one of the oldest in the city, whichris located at the corner of Greenwich and Dey streets, expèrienced a heavy run, in common with the other banks in that part of the town on Monday. During that day they paid out $50,000 in gold and silver. Yesterday morning the doors were opened, but a bulletin was immediately placed outside announcing to & large and anxjous crowd that they had suspended specie payment. This was received with ill humor by the congregated expectants of gold in exchange for their checks, but the announcement soon had the effect of diminishing the crowd. It may with truth be said that this institution has been run upon for more than a week, as they have for the past ten days been paying an average of $5,000 a day in specie to depositors. NASSAU BANK. The Nassau Bank paid out $80,000 in specie, paying straight through. NATIONAL BANK. The National Bank paid out some $43,000 in coin, which leaves it $458,000. BANK OF NEW-YORK continued to pay demands until ? o'clock, when the run became 50 great that they ran out of gold and were compelled to occupy the remainder of the time in certifying checks. The doors were kept open until 31 o'clock. Over $300,000 in cash and bills of other banks was paid out.

4. October 15, 1857 The Daily Dispatch Richmond, VA
Article from The Daily Dispatch, October 15, 1857

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THE FINANCIAL CRISIS. We subjoin additional particulars in relation to the financial pressure, which seems to be extend ing over almost every section of the Union. At an early hour yesterday morning, the Farmers' Bank of Virginia, and the Exchange Bank of Vir ginia, in this city, suspended specie payment. The announcement created no excitement as such an event was ex pected: and so far as we have been able to judge from conversation on the streets, it is generally regarded as judicious measure. un der the circumstances We have observed no ma nifestations of alarm among bill holders, in conse queuce of the suspension. The Bank of Virginia still holds out against the pressure It will be observed by our special dispatch, that the Branch of the Farmers' Bank of Virginia at Petersburg. spended yesterday but the branches of the Bank of Virginia and Exchange Bank, con tinned pay specie. BANK OF THE STATE OF SOUTH CAROLINA The Charleston Courier of Monday thus alludes th the suspension of the Bank of the State of South Carolina: we have before stated the notes of the Bank of the State are secure beyond all question Hay ing the whole credit, and the power of taxation of the State sustain them. they are better secured than the notes of those banks in New York 4 elsewhere which have deposited dollar for dollar in stocks, to secure their redemp having to be sold at the market depreciation. in order to redeem the notes. far as the proceeds will Haring then, the fullest idence in the of would mend them to the unity as lation answer would the local of trade. The purposes banks of the city. we think. ought to take them their counters. under certain and pay them out for certain purposes. It true there penalty recovered. at the suit of the State where one bank pays out the notes of another: but case like the present. the State certainly could not take advantage of her own wrong. and course for penalty hich is the only one that will preserve the credit and currency of her notes, and which furnishes the only means lief o a community perfectly sound and solvent pressed to the utmost point of pecuniary durance, for the want of those facilities which the banks are accustomed to afford: but which. under the present pressure. impossible The funds of the State and all the means of the city are now only to be in Bank of the State as also alarge amount of desposits, the pro perty and only available means others Should the Banks decide to reject these notes. the result will be disastrous: many substantial houses in this community must be dishonored and when that begins, who can say stop. There are many who would be glad pretext to remit exertions. and await until the over. storm is of the many poorer class, with money in their hands. must suffer rious inconvenience The small notes of this Bank large of so this part circulation. city that there is thing to supply its place: if that is tl jected, needed coin small could not be found. and endless would distress be the result AFFAIRS YORK NEW IN The bank officers of New York held meeting the Clearing House Tuesday morning and to maintain specie payments at all hazards. passed plausible resolutions about influx of specie from California; the probable ceipts from Europe, in obedience to the trade; the circulation of coin from the States Treasury and B natural tendency cumulate the banks invoke They community to sustain them in their tain specie payments, and conclude with the lowing That in the judgment of this meeting even for this object, DO further traction of nor will there exist any obstacle to such an expansion of them as will afford the aid bring forward the crops and alle ate the present commercial distress unless it shall be created by the demands of causeless alarm. Yet, in the face of these resolutions, unanimous ly adopted, and despite weekly statement which all things considered, must be regarded as remark ably strong, the telegraph the same day the enspension of fifteen banks and at late hour the night: report comes that the bank officers had held another eeting and upon general suspension. It was day of great excitement, the follow will show: NEW October Wall YORK, street been has cked The to-day all business paralized. The Post of this afternoon. There has been some drawing by depositors, banks from the city for nun of past. carried on though quietly there was.the first decided of It was particularly against the North River, Ocean and Merchants first Banks The named was reduced $10,000 A three o'clock. coin then had of the officers of the lead banks proper course be pursued If the com menced this morning the advice was to close the doors once. soon as the hour for drawing checks arrived this morning, the depositors showed unmistaka withdraw determination balances their gold. They paid long enough to assure the the that officers process would that on and go AD exhaustion of their means was only a question of few hours The North River, the Merchants' Exchange and the Ocean Banks have resolved to close immediate ly. The intelligene spread over the city rapidly alarm of fire. In an hour more the Marine Bank added to the list. Knots of bank direc in other seen officers and consultation The alarm was every banking room. tablished mic. who dents yesterday would the of asuspension. be gan share rnation. Soon after Nicholas. the People Butch ers'and Drovers Bull Mead. Bank of New York Irving, Market Chathan Tradesme 's and New York Exchange Banks all announced their inabili ty to continue specie payments. Heavy runs upon the Cont inental Metropolitan, American Ex change, Nassan and Phenix Banks followed, but all of met demand the them David Leavitt Esq. of the American Exchange Bank, made speech to the crowd. declaring his determinati pay to the last dollar. He also announced that an had made with several of the strongest banks to go through with out suspending The officers of one of the princi pal Wall street banks advised its dealers yesterday that it would not take certified checks on deposit without reserv ing the right return them if not made good at the clearing-house The quence was that gold was drawn from all the banks that were not This another through day go aggralikely vated the excitement among dealers, and it is un some heaviest the that of derstood have houses drawn gold and replaced it as special deposit, with the understanding that it might be counted in the average The street isfull of rumors, with eager crowds at every corner The country bankers here are numerous, some telegraphing their own banks, and others awaiting the results of events during the day. Of course if suspension here general it is inevitable the suspension will follow throughout the State, if not throughout the conn try l'he Broadway, the Artizans' and the Leathe also Bank Manufacturers' n. and nally the suspe nsion of the Bank of the State of for alogue York ends making the New -day, the total suspensions o-day number eiget and Jea ing thirty -three selvent institutions. The grea portion of these, however, will, it is expected, to-morrow. stop The Merchants Exchange Bank refuses to pay either specie or bills. only certify ing checks The Bank of North America was protested this after noon. Several of the banks held open till after three o'clock, the nsual hour of closing, meeting every demand others shut down promptly at the regus lar hour. leaving large number of applicants to try again All of the savings banks paid up prompt ly. THE B NKR RESOLVE TO SUSPEND The following is the official report of the meet ing held in New York Tuesday evening The Banks hav all resolve to suspend specie payments fax as paying at the counter is con cerned and to make regular exchange of encl others bills at the Clearing House. It has also been resolved to send committee to confer with of the Governor in refere nce to calling meeting the Legislature The committee will leave for Al to-morrow at 12 o'clock. bany THE EFFECT IN BOSTON.

5. October 15, 1857 The Weekly Portage Sentinel Ravenna, OH
Article from The Weekly Portage Sentinel, October 15, 1857

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Financial Matters in New York. NEW YORK, Oc. 13.-The following banks of this city, suspended this morning: The Marine, Pacific, Irving, Merchants' Exchange, North River, New York Exchange, Citizens' and Ccean banks, in all, numbering eight banks. The Chatham, Bull's Head, Market and St. Nicholas Banks have also suspended. (SECOND DISPATCH. NEW YORK, Oct. 13.-The bank suspensions have attracted a dense crowd into Wall street this afternoon, while other business streets were comparatively desert. ed. In addition to those announced up to two o'clock, the Tradesmen's Bank, Artisan's Bank, Butchers and Drover's Bank, and the Bank of New York have since sus. pended. It is feared that a general suspension is now inevitable, though several of the old banks announce their ability and determination to continue specie payments. It is reported that the Marine Bank is stopped by an injunction obtained by one of its cus. tomers, and it is presumed that the same course has been pursued with regard to oth. er banks. By this means the penalty of winding up which attaches to the act of suspension is evaded, and it is generally thought that the suspension will, in most ca. ses, be only temporary. This understanding tends to relieve some of the excitement. [SECOND DISPATCH.] To-dey has been the most exciting one in financial matters. Up to 2 o'clock filteen of the city banks suspended specie payments, of which the following is a revised list, viz: The Bank of New York, Arti. zan's, St. Nicholas, Chatham, Ocean, Market, Butchers & Drover's, Merchant's Ex. change, Irving, Citizen's, Tradesmen's, Bull's Head, New York Exchange, North River and Morine. Wall street at 2 o'clock was crowded with an anxious mass of people The steps of all the banks were blocked up by people forcing their way into the banks. At the American Exchange Bank David Leavitt addressed the crowd, assuring them that the banks would pay all to the last dollar. He also announced ithat an arrangement had been made with several of the $ strongest banks to go through without suspension. It is believed, however, that the suspension will be general. It is understood that some of our heaviest f e houses have withdrawn their gold from the banks and replaced it as a special deposit. There were rumors during the day effecting d nearly all the banks in the city. The above list gives all that certainly suspended up to three o clock. S The run on the Brooklin Savings Bank h was renewed to-day, but with less vigor, the bank paying promptly. Several raifures among the dry goods firms are announced, but none of them are very prominent. d [THE LATEST ] The run upon the Mechanic's, Merchant's Bank of America, Manhatter, and Ame ica

6. October 15, 1857 Quasqueton Guardian Quasqueton, IA
Article from Quasqueton Guardian, October 15, 1857

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Bank Failures NEW YORK, Oct. 13. To day has been a very exciting one on financial' matters. Up to 2 o'clock, 15 City Banks had suspended. The following is a revised list: Bank of New York, St. Nicholas, Chatham, Ocean, Market, Butchers' and Drovers', Merchant's Exchange, Irving, Citizens, Tradesman, Bullshead, North River and Marine. The latter, it is said, was stopped by an injunction precured by one of its customers, and it is presumed other banks have been stopped in the same way, as by this means the penalty of winding up which is attached to suspension in most cases of affairs, when generally known, will undoubtedly serve to allay the present undue excitement. Wall street at two o'clock was crowded with an anxious crowd of people. The steps of all the Banks were also blocked up by people, forcing their way into the Banks, At the American Exchange, David Leavitt addressed the crowd, assuring them that all the banks would pay all to the last dollar. He also announced thrt an arrangement had been made with several of the strongest banks to go through without suspension. It is believed, however, in the street, that the suspension will be general. It is understood that some of our heaviest houses have withdrawn their gold from the banks and replaced it as speciΔ™ deposts. There were rumors during the morning affecting nearly all the banks in the city, but the list gives all that had certainly suspended up to 3 P. M., The others, it is believed, continued to meet their liabilities tothe close of business hours. The sales of Railroad stocks at the first board were small at a general decline.β€” In State stocks business was large at a decline, excepting in Virginia's and Missouri's. Bank stock all sold at a decline. The run on the Brooklyn Savings Bank was renewed to-day with less vigor, the Bank paying promptly. Several failures in the dry goods line are announced, but none of very prominent firms. LATEST.-Tne run upon the Mechanics & Merchants Bank of America, Manhattan and American Exchange Banks was severe, and continued up to close of business.

7. October 15, 1857 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, October 15, 1857

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ceivers in future, the following occedings took place on Wednesday morning: At a meeting of Justices of the Supreme Court, held for the purpose of determining s uniform course of action among themselvesPresent-Justices Strong, Emott, Birdeaye, Mitchell, Roosevelt, Davies, Clerke and Peabody, the following opinions were unanimously concurred in: In all cases in which the act of 1849 is applicable, it is deemed to supersede the provisions of the Revised Statutes (2 R. S., 464, sections 47 and 39). Accord. ingly, no creditor of a bank who may have relief under that act CBB have it under the Revised Statutes. That act gives the creditor a right to apply to & Justice of the Supreme Court only, after the expiration of ten days from the refusal of a bank to pay itsdebts or liabilities. Even then a temporary and immediate injunction can be granted, only if in the opinion of the Judges it be expedient in order to prevent fraud orinjustice. After both parties shall be heard before the Judge, he is to determine whether the bank is clearly solvent or not. A bank is clearly solvent which is clearly able to pay all its debts, although it may have suspended specie payments for a time. In the case of the North American Trust and Banking Company, this principle was held by the Supreme Court and the Court of Appeals. When a bank is clearly solvent and its officers are acting in good faith, no receiver should be appointed. Where the act of 1849 does not apply, if the part of the Revised Statutes above referred to does apply, it IS discretionary on the part of the Supreme Court to grant an injunction or not. That discretion is controlled by legal rules, and the injurction should never be granted if the bank is clearly solvent. An ex-parte order for an injunction should not be granted even after a suspension of specie payments, unless it satisfactorily appears to the Judge that it is necessary to prevent fraud and injustice. The mere fact of suspension of specie payments (when it is general) is not of itself sufficient proof of fraud or injustice to authorize such injunction. As a general rule, it is not expedient to grant an injunction against a bank, without previous notice. It was also resolved that Justice Mitchell be requested to furnish a copy of these opinions to each of the Justices of the Supreme Court in the other Districts, with & request that they respectively communicate to him their views on the same points. It ie understood that in the course of their consultation the Judges were of opinion that it admitted of great doubt whether the clause in section 5. of article 8 of the Constitution, prohibiting the passage of any law sanctioning in an manner, directly or indirectly, the suspension of specie payments by any person, association or corporation, issuing bank notes of any description-applies to any liability of such an association or corporation other than bank bills or notes, which are by statute to circulate as money, and for the payment of which the faith of the State is pledged. This seems to mean that a bank may suspend specie payment in regard to everything but their notes and bills, and yet not infringe the provision of the Constitution above quoted. APPLICATION FOR A RECEIVER DENIED. A few minutes after the meeting of the Judges and the resolutions passed on Wednesday morning, Mr. John Livingston made application to Judge Roosevelt at Special Term against the Bank of New-York for an order to show cause why a Receiver or Receivers should not be appointed for that institution. The Judge, in view of the resolutions at the General Term, denied the motion for the present, but took the papers for examination. It is understood that in cases of fraud or bad faith in a bank, receivers will be appointed and injunctions granted as heretofore. The plaintiff in this case was the holder of two $100 notes of the bank. They were presented on Tuesday afternoon and payment refused.

8. October 16, 1857 Wilmington Journal Wilmington, NC
Article from Wilmington Journal, October 16, 1857

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From the Special Dispatch to Baltimore Sun. An Exciting Day In New York-Heavy Run on the Banks-Suspension of Specie Payments by Eighteen Banks-Others Holding Out, &c. NEW YORK, October 13.-Wall street has been blockaded to-day. The excitement was intense and all business paralyzed. The Post of this afternoon says : There has been some drawing by depositors from the city banks generally for a number of days past, though it was carried on quietly. Yesterday there was the first decided manifestation of a systematic run. It was directed particularly against the North River, Ocean and Merchants' Exchange Banks. The first named was reduced $10,000 in coin at three o'clock. A conference was then had with some of the officers of the leading banks as to the proper course to be pursued. If the run recommenced this morning the advice was to close the doors at once. As soon as the hour for drawing checks arrived this morning the depositors showed an unmistakeable determination to withdraw their balances in gold. They were paid long enough to assure the officers that the process would go on, and that an exhaustion of their means was only a question of a few hours. The North River, the Merchants, Exchange and the Ocean banks resolved to close immediately. The intelligence spread over the city as rapidly as an alarm of fire. In an hour more the Marine Bank was added to the list. Knots of bank directors and ot her officers were seen in consultation in every banking room. The alarm was now an established epidemic. Residents who yesterday would not admit the possibility of a suspension, began to share in the common consternation. Soon after the St. Nicholas, the People's, Butchers' and Drovers', Bull's Head, Bank of New York, Irving, Market, Chatham, Tradesmen's and New York Exchange banks all announced their inability to continue specie payments. Heavy runs also upon the Continental, Metropolitan, American Exchange, Nassau and Phoenix banks followed, but all of them met the demands. David Leavitt, Esq., of the American Exchange Bank, made a speech to the crowd, declaring his determination to-pay to the last dollar. He also announced that an agreement had been made with several of the strongest banks to go through without suspending. The officers of one of the principal Wall street banks advised its dealers yesterday that it would not take certified cheeks on deposit without reserving the right to return them if not made good at the clearing-house.The consequence was that the gold was drawn from all the banks that were not flikely to go through another day. This aggravated the excitement among dealers,

9. October 17, 1857 Sunbury American Sunbury, PA
Article from Sunbury American, October 17, 1857

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FINANCIAL AFFAIRS IN NEW YORK NEW YORK, Oct. 13.-To-day has been a most exciting one in financial matters. Up to 2 o'clock, fifteen of the city banks suspend. ed specie payments, of which the following is a revised list, viz: Bank of New York, Artisans', St. Nicholas Chatham, Ocean Market. Butchers and Drovers', Merchants' Exchange, Irving. Citizens', Tradesmen's, Bull's Head, New York Exchange, North River and Marine. Wall street at 2 o'clock was crowded with an anxious mass of people. The steps of all the banks were also blocked by people foreing their way into the banks. At the American Exchange Bank David Leavit addressed the crowd, assuring them that the bank would pay all, to the last dollar. He also announced that an arrangement had been made with several of the strongest banks to go through without suspension. It is believed, however, that the suspension will be general. It is understood that some of our heaviest houses have withdrawn their gold from the banks and replaced it as a special deposit. There were rumors during the day. affecting nearly all the banks in the city, but the above list gives all that certainly suspended up to 3 o'clock. The run on the Brooklyn Savings Bank was renewed to-day, but with less vigor, the Bank paying promptly. Several failures among the dry goods firms are announced, but none very prominent. THE LATEST.-The run upon the Mechanics', Merchants', Bank of America, Manhattan and American Banks. was severe, and continued up to the close of business. The Broadway Bank held out till nearly 3 o'clock, paying out $140,000 in specie, when it gave out. The Leather Manufacturers' Bank subsequently closed its doors. The Seventh Ward and Fulton Banks held out under a tremendous pressure. The People's Bank closed at two o'clock, after paying out $19,000 in specie during the day. The Bank of New York paid out its last dollar, and certified all checks presented, and then yielded. The American Exchange Bank paid all demands, but several others shut out their customers at three o'clock. The Bank of North America was protested this afternoon. The Corn Exchange Bank refused to pay specie. At the Stock Exchange stocks all took a rise, under the belief, that the Bank will all suspend to-morrow. Ten o'clock, P. M.-It is reported. on pretty good authority, that the Bank Presidents are now in session, and have resolved to suspend. The following is the official action of the meeting of Bank Presidents: The Banks have resolved to suspend specie payments as far as paying over the counters is concerned, and make a regular exchange of each other's bills at the clearing house. Also, to send a committee to confer with the Governor in reference to calling a meeting of the Legislature. The committee leaves for Albany at noon to-morrow.

10. October 17, 1857 Muscatine Weekly Journal Muscatine, IA
Article from Muscatine Weekly Journal, October 17, 1857

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THE NEWS. -The telegraph gives notice of a general suspension of specie payments by the banks of New York and Boston. CALIFORNIA.-The steamer Granada arrived at New Orleans on the 13th, having connected at the Isthmus with the Northern Light from San Francisco, Sept. 20th. The news is not very important. Weller's majority over both his antagonists is 11,000. The Legislature is largely Democratic. Bates, Ex-Treasurer, and Rowe, his clerk, have both been committed to jail in default of payment. Chief Justice Murray is dend. Col. Casey, of Tenn., has been killed in a duel with Mr. Blair. The 'onstitutional Convention of Oregon is in session. The Slavery question was slightly agitated. California markets were du.l. Accounts from the mines were dull. Nothing of importance from Central America. -A riot took place in Baltimore on the 14th between the Americans of the Sixth and the Democrats of the Eighth Ward. Mu-kets and pistols were used. Police officer Jordan was killed and others wounded. -The financial crisis is the burden of the telegraphic dispatches from the eastern seaboard. The following are the New York City Banks reported failed on the 13th: Bank of New York, Artisans, St. Nicholas, Chatham, Ocean, Market, Butchers and Drovers, Merchants, Exchange, Irving, Citizens, Tradesmans, Bull's Head, North River, Marine, Broadway Bank, People's Bank, Bank of the State of New York and Bank of North America. Great excitement prevailed. Policemen were stationed at many of the banks to preserve order. At the meeting of New York Bank Presidents, on the 12th, it was resolved to suspend so far as paying over the counter is concerned; and a Committee was appointed to go to Albany to confer with the Governor, and if possible induce him to call an extra session of the Legislature with the view of obtaining a legalization of the suspension of specie payments. -The election in New Mexico has resulted in the triumph of the Democrats. Otero is elected to Congress by at least 3,000 majority.

11. October 19, 1857 The New York Herald New York, NY
Article from The New York Herald, October 19, 1857

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JOHN LIVINGSTON AGAINST THE BANK OF NEW YORK. TO THE EDITOR OF THE HEBALD. New YORK, Oct. 19, 1857. Actions in court, like many of the actions of mankind in the every day affairs of life, are often deemed senseless in themselves and injurious to the community until their object can be made known, and, this remark is particalarly applicable to the above-named case which is now pending before the special term. In justice to both par ties to the suit, it is, therefore, proper to say, that the same is now in court with no design to inflict damage or injury upon either, but solely with the view of obtaining an explicit and authoritative decision in a case arising in court, and actually before it, which may have the binding effect and force of law upon the important questions presented. In no other manner can be estabitshed those princi of law now of such vital importance, not only to the existence of our moneyed in. stitutions but to the welfare of the entire community. The declarations of Judges made out of court however positively exprested or widely circulated, have no more binding authority than those of any private individual Hence it is a formate circumstance that an action is pending which will enable the Court in a few days EOL only to decide with authority, but to give the reasons for its conclusions. From these remarks it must not be understood that the case was collusively brought before the Court, for that in not the fact; zor would such collusion be allowed by law. Bet the action having been commenced in good faith, (before the bank suspensions bad become general,) the entry of the order of discontinuance, for which consents were exchanged several days since, has been pur. posely withheld for the foregoing reasons. The plaintiff has no desire that any injury should come to the Bank of New York; and he freely concurs in the opinion that the course adopted by the bank, in common with other similar institutions, is the best that could have been devised for the public good. Whatever Imay be the final determination as to the legal effect of the general suspension, he hopes that not a single member of the bar may be found in this State willing to throw an obstacle in the way of the banks, so long as the necomities of the public compel them to adhere to their present course. Every lawyer must be aware that any interruption to the daily transactions of our banking corporations by legal proceedings would be productive of irreparable injury, not only to the business community but to the entire bar, for all are dependen upon one JOHN LIVINGSTON. another.

12. October 19, 1857 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, October 19, 1857

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1,831,622 4 One 3,290 39.520 9,711 bble Beef 10,965 86.128 bble $8,684 Pork 387,282 604.400 Butter 569,814 6,807,200 9.248.500 Lard. 611.677 833.400 Cheese 1,555,08 2.744,500 Woel 2,089 446 7,705,800 Be..8,300,600 Bacon The Albany Argus says: It is understood that the Governor will not, at least at present, and until the necessity is more appsrent call the Legislature together. Indeed, the New. York bankere who at first requested it. have now taken the opposite tack and oppose it. If such is the determination of the Executive, we certainly hope that all backs which conduct their business in a fair manner, and clearly solvent, will be allowed to proceed, without any attempts on the part of any persons to embarrass them by legal proceedings. Public indignation will set very strongly against any person who may institute vexatious prosecutions at & time like the present The banks are only in the same condition of suspension which eb gracterizes the business community, and any annoyances inflicted upon them will embarrass their customers and business men generally. Mutual forbearance must be the feeling and the rule, and it will be highly creditable to the people of this State, if it shall be found unnecessary to adopt any legislative remedies in the present crisis. We think there is occasion for bankers and business men to take courage and struggle on, and they may reasonably expect that 8 few months of exertion will carry us into a greatly improved condition. But it must not be supposed that we are to be rapidly restored to prosperity. The causes of the present troubles lie too deep to be reached and removed except by slow process. remedy lies in & general and vigorous effort to reduce liabilities, curtail business and retrench expenditures. We are like a party of bathers who have ventured beyond their depth Part of them have been drowLed, and the only safety for the others is in hastening toward the shore, where they can plant their feet firmly on the bottom. and keep their heads above water. Let every man struggle for life to do this, and shall rapidly approach a condition of safety. The banks should not for an hour lose sight of the necessity of return to specie payments at the earliest moment. Until that is done there is no real soundness, and we are in state of partial insolvency. The sus pension should be regarded merely ae s breathing spell for the banks and business men. As soon as they have had time to rest they must return to their usual duties. After the Fall trade closes, business will naturally contract, and the Winter will afford an opportunity to bring the financial machinery again into gear and enter upon resumption. Since the above was in type we have received the following NEW York, Oct. 17 1857 To Thomas Tilevion, m and other Prodidate v Heaks represented tal be Now York Charing House GENTLEMEN: Is obedience to your instructions, we yesterday appeared before his Excellency Gov error King at Albany, to present your memorial and enforce your views with regard to the proposed extra session of the Legislature. The general scope and character of the public views then submitted to the Governor will sufficiently appear in the brief but comprehensive outline reported in the Albany newspapers, and opied this morning in the public journals of this city We deem it important. however, to add, that in addition to those broader and more general considera tions, we also submit in detail the legal technical rea. sona necessary to show that the 'insolvency) of banks contemplated by existing laws, and calling for the summary process of Receivers, and onsequent suspension of their corporate functions, was an actual, practical insolvency, in the common sense of the term, and not a merely technical or constructive insolvency, arbitra rily inferred from & momentary or temporary delay in paying all their obligations in coin, and that the creditors of banks actually solvent might safely and prop erly be left in such cases to their ordinary remedies by suit at law. We deemed it important to show that this view of the case bad been explicitly and authoritatively established by the Supreme Court in recent decisions, and also to satisfy the Governor that those decisions had been made in cases in Court actually arising, and were co sense voluntary or extra judicial. of For this purpose we showed to him that. in point fact, there had been three separate applications for in junctions and receivers against three different banks pending before two of the Judgee of this districtbefore one Judge and one before another; that those Judges, having deemed the applications important, called in their associates of this and the Second Judicial District for consultation, as is often done in diff. cult and important cases; that the result of their deliberations was decision by the two Judges before whom the applications were pending, deeying the mo tions for injunctions and receivers. The desisted was in accordance with the unanimore opinions of all the Judges present. As the community was deeply concerned is the questions thus decided, the Judges very wisely and properly stated the propositions on which their desisions were founded and allowed . report of them to be published. In this they did DO more than has bose often done by the old Court for the Correction of Errors and the Court of Appeals, via.: pass resolutions in important cases of pabilo interest, dictation the principlee settled to the case decided, end allow term to be reported and published Stace the ennouncement of these propositions Judge Roceevelt, on the application made to him for BE intunction and receives against the Bank of New. Yer's has desied the motion, and is preparing, as we understand his reasons is full for his decision. After promoting these and other facts and views to the Governor, w respectfully asked for in expression o his opinion on the subject. He was pleased to pay in areas that be bad listened with pleasure advantage to the reasons presented in behalf of the leading Banks of the City of New-York. but that he was not prepared, at present, to do more than to hold the question of as extra session in reserve. Respectfully, your aboden corrects, SAMUEL FOOT SAMUEL B. BUGGLES. The Philadeiphou Register saye: There is this important difference in the suspension of specie payments by the benks now and is 1387. Then the rate of sterling exchange was 20 22 . cent premium. Coin was ebipped out of the country by millions of dollars, all business was afterly prostrated, and to continued until the rate of exchange was reduced so low as to render cola shipments w prostable. It eventually, and months before resump tion, got below par, and coin in small amounts am to this country. Now. at the very time of the present suspension, the rate of sterling exchange is below per, and coin is coming here by almost every arrival. The country is also well filled with foreige imports; so that there exists no necessity for any very heavy importations. We have, also, of all the principal etaples a great abundance, ready to go forward at the first intimation of & demand for them, both facts guaranteening to some extent that the balance of trade will continue for some time in our favor, In these respects, the present suspension more favors it an early resumption than did that of 1837. Then required some considerable time to come down to & starting-point upward, as regards the foreign excharges. Now. in our foreign financial relations, we stand & right. There is nothing to fear in that quarter. The question of & resumption, therefore, resolves itself into one of a purely domestic character. It is simply & matter of adjustment of liabilities among ourselves and, while we fear & lengthened depression of all busiit ness, we hope for an early resumption, and through will come the earlieet relief from our present embar rassments. With economy and & on the part of

13. October 20, 1857 The Davenport Daily Gazette Davenport, IA
Article from The Davenport Daily Gazette, October 20, 1857

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The New York Banks. The following clause is in the Constitu tion of the State of New York: The Legislature shall have no power to pass any law sanctioning in any manner, directly or indirectly, the suspension of specie payments by any person, association, or corporation issuing notes of any description. Suspension therefore, works the legal destruction of a bank. The proceeding cannot be legalized, cured, or smoothed over in any way-but a receiver steps in and the bank is wound up, "according to the statutes in such cases made and provided." Such, at least, we have regarded as the legal presumption in the case, but we learn from the Chicago Press, that to remove the public anxiety, the judges of the Supreme Court held 24 meeting on Wednesday, to consider the penalties that might result to the banks in consequence of suspension. Eight of them concurred in the opinion that a bank is solvent which is clearly able to pay all its debts, although it may have suspended specie payment for H. time; and that when in that condition, and its officers are acting in good faith, no receiver should be appointed. It is also added: The mere fact of the suspension of specie payments-when it is general--is not of itself sufficient proof of traud or injustice to authorize such injunction As a general rule, it is not expedient, to grant an injunction against the bank without previous notice. In short the judges take the ground that the banks have yielded to anoverraling necessity, and that ... long as they continue to work in good faith with the community, they will not be interfered with. In CORsequence of this action. later in the day, Judge Roosefelt denied a motion for an order citing the Bank of New York to show cause why a receiver of that institution should not be appointed. We are informed by despatch that Gov. King is not disposed to call an extra session of the Legislature, as he has been requested to do by a committee sent to confer with him upon the subject by the New York bankers and merchants.

14. October 22, 1857 The Cadiz Democratic Sentinel Cadiz, OH
Article from The Cadiz Democratic Sentinel, October 22, 1857

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the Times of last Friday: OF THE CITY OF NEW YORK HAVE SPECIE PAYMENT!-This This announce yet official, but practically it is the the case at the close of bank hour We have never, in a long expe essed any catastrophe 80 sudden, of with such wide spread popular ex The public were not generally preby the weekly Bank averages of the rhich appeared this morning.howed an average specie reserve, o -not well distributed to be sure no more inequality than had ofter exhibited. But the average of the to he a declining one. The chich might have been the true test in the middle of the week had millions on Monday (yesterday The generally quiet but steady yun and the pressing redemptions n par- the are supposed to have reduced stually on hand at the close of busin $8,500 000. The Clearing-House it seems, failed to secure unanimity mutual aid, such as were reflected and resolutions published this They did not stand up to the mutual least one, if not two, of the im on the West or North River were virtually denied assist all probably concerted together last the suspension early to day of with a capital of $1,000,000, ppage of the Merchants' Exchange, 00,000, the North River, Irving and Exchange Banks. This was well street by the hour afnoon. Then run. and for three hours the solutely indescribable, attended as popular commotion that brought in from Broadway to Hanover a could only be numbered by fives Every Bank was crowded, the boasted) impregnable.and the weak. Exchange, one of the redeeming New York State county bank and circulation, was first set upon.eavitt the first President (now an Director) of the Bank appeared of No 52 Wall-street, street, and ad owd. He mani ested game, speak for his own, but for six or eight banks. crowd pressed into each bankingvicinity. The paying ing tellers were employed. The gold went out by dreds of thousands. The old Bank chartered seventy years ago, and of $2,000,000, gave way about 2 struck the crowd as the giving keystone of the arch, and the sucincements of the suspension of the Leather Manufacturers, Tradesa dozen up-town banks, ceased Attention was turned to the run upon the other large constreet. The crowd at the Bank of New York, William street and place, was the most quiΓ©t; yet paid out in gold. At the Bank of Mechanics the pressure was more lost heavily. At the Union and in the day, the applications for merous, each yingabout $75,000. hants', the drafts were considerable The Republic and Metroheavily run upon, as well as the change. But-we believe that near street banks, except the old N. conference this alternoon only laout-right. was not seriously molested.though not esteemed strong, close. or the banks on Broad Metropolitan, the Mercantile. Chemical, Shoe and Leather, and into conterence without letting Broadway gave way. On the east and Nassua paid through. The payment at 2Β½ o'clock. The paid through. The Fulton and stopped. Further up town, on the Oriental paid through, and Traders', we believe, The Cit chers' gave way early in the fore. the New York County. The clock, P inted to a general declara in the morn n.4. and the reoof the banks as close their doors as to the course ofthe great body The currency from the Spe be changed to one of Current reurrent funds,and business transdepartment of trade, will at rined to the change. of writing, we do not question the bank conferences now going is not likely, in any event that in the conclave to be prolonged. lard has ceased to be the rule of York for the present The in the Clearing House might averted this catastrophe a week or yielding to counsels that symclosely and surely with the poputhe controlling minds in the asis even probable, as intimated in of yesterday, that and by Laided making by

15. October 22, 1857 The Weekly Pioneer and Democrat Saint Paul, MN
Article from The Weekly Pioneer and Democrat, October 22, 1857

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THE WEEKLY PIONEER AND DEMOCRAT. dock laborers generally, so that the crowd was somewhat rough compared with the customers of the banks of deposit and dis- count. There were a good many loafers and pickpockets in the street, who discussed the crisis after the Bunsby fashion. We also take the following from the Herald of the 15th: The Supreme Court Judges of the First and Second Judicial Districts held a meet- ing yesterday, and decided to grant no in- junction against the suspended banks, ex- cept in cases where it was apparent that fraud existed. The Judges determined that a bank is clearly solvent when it is able to pay all its debts, and that when the officers of solvent banks are acting in good faith no receiver shall be appointed. The fact of a suspension of specie payments is not a proof of fraud. In consequence of this action, later in the day, Judge Roosevelt denied a motion for an order citing the Bank of New York to show cause why a receiver of that institution should not be appointed. A meeting of the merchants of the city was called yesterday afternoon at the Ex- change, to consider the state of public in- terest as connected with the suspension of specie payments by the banks, and to adopt such measures as might be deemed expe- dient. The meeting was largely attended, and was presided over by Mr. James Brown, of the house of Brown, Brothers & Co.- Resolutions were adopted in favor of the call of an extra session of the Legislature, and expressing confidence in the banks of this city and State, and a committee was appointed to wait upon Governor King to- day, to solicit him to issue a call for an ex- tra session. Much dissatisfaction prevailed at the character of the proceedings. The meeting was, in fact, one in the interest of the banks, not of the merchants. It was commenced ten minutes before and closed five minutes after the time for which it was called. The resolutions were read and adopted without discussion, and no inter- change of opinion took place. After the adjournment, merchants and others gave free expression to their disappointment: and propositions were made to extemporize an opposition meeting. That course, however, was not pursued. If, on reading our report of the proceedings this morning, the mer- chants believe that their interests were over- looked at this meeting, they ought to call another this afternoon. The committee appointed to proceed to Albany to urge upon the Governor the ne- cessity of calling an extraordinary session of the Legislature to meet the present emer- gency in financial affairs, proceeded to Al- bany yesterday, and, together with a depu- tation of bankers of that city, called upon the Governor, and made known their views. It is stated that the Governor will yield to their solicitation, and a proclamation con- voking the Legislature may be looked for to day. In reference to the Chemical Bank the only one of the fifty-one banks ir. New York, that refused to suspend the Herald says: Out of the thousands of banks existing throughout the Union, there is at this mo- ment only one specie paying bank the Chemical Bank, of New York. It has not only bees promptly meeting all the demands of this kind made upon it since the com- mencement of the panic, but is prepared to redeem, and will continue, if necessary, to redeen in the came way every dollar of its obligations. It has gold enough in its vaults at the present time to meet the whole of its liabilities; and on the system on which it is conducted there is no condition of things which can affect its character as a specie paying bank. With capital of only $300, 000, it has a surplus of over half a million. nearly double its capital, which surplus is included in its deposits. It is managed by some half dozen of gentlemen, who own all the stock; it pays a dividend of six per cent. semi annually, and its surplus is steadily in- creasing with these large dividends. Great Railroad Failure. From the St. Louis Republican. The Illinois Central Railroad has failed, and made an assignment. This is the great- est among the great failures of the passing day. The Illinois Central is the longest railroad in the United States. It is 704 miles long. At the last accounts it had cost over $23,- 000,000. Its gross receipts at the last year- ly return were $2,476,000, its net receipts were $1,031,000. On the 19th of Septem- ber its stock stood at 94, and as late as last Saturday, stood at 71. As every one knows, this road was richly endowed by the State with lands granted by Congress. The grant was 3,840 acres to eve- ry mile So that the whole grant was over 2,700,000 acres of land. These lands were appropriated by the company in the manner following: 2,000,000 of acres were mort- gaged as security for money to be raised for the construction of the road. The money expected to be raised in this way, was $17,000,000. The bonds bore 7 per cent. interest, payable on the 1st of Oct. and April in New York: 250,000 acres were to be held subject to sale, so as to form a fund for the payment of interest, until the receipts of the road should pay interest. The balance-some 400,000 acres were to be sold from time to time to "meet such de- mands as the exigencies of the Company may demand." The minimum value of the 2,000,000 acres, (mortgaged for construction) was set down at over $18,000,000. The Company also created stock to the amount of $2,000,000. The lands and the road were conveyed in trust to Morris Ketchum of New York, and to John Moore and Samuel D. Lockwood of Illinois. The trust thus created was to secure the construction of the road, and those who loaned it money on the strength of its lands and road. The bonds, called construction bonds, to the amount of $17,000,000, have been is- sued. Besides, there are $3,000,000 of 7 per cent. bonds secured by lands, other than those set apart to secure the construction bonds, have been issued. These $3,000,000 are called Free-land bonds. At the minimum valuation put on the $2,000.000 acres, which were mortgaged to secure the construction bonds, the whole landed property may be considered worth $25,000,000, The last sale of the bonds was 65. So sanguine were the proprietors of this road that the proceeds of the bonds, and the lands sold, would put them amply in funds, that they made it a condition of the construction bonds that the company might at any time purchase these bonds, or any of them by paying, in addition to the regular, interest, the principal, with twenty per cent. added. In fact, few supposed that such a road as this, endowed as it was, could fail of being excellent property. It had $2,000,000 of capital subscribed. It had such proceeds in money as neat 700. 000 acres of land would yield to pay inte- rest, as well as for construction. And it had the proceeds of the $17,000,000 con- struction bonds. The cost is set down by the Railroad Journal at, as we have stated above, a little over $23,000,000. The construction and free land bonds amount to $20.000.000. if they have been all sold. The interest at 7 per cent, on these bonds is $1.400,000. The report, were given at 81051000, ad gross at 82.476,060. Of the gross receipts 5 per cent, are payable into the Illinois State treasury, as the bonus agreed on for the land grant. Five per cent, on the gross receipts last year were over $123,000. And, if the sum above given as net receipts is what is left after deducting merely running expenses, this $123,000 must be deducted from these receipts, thus leaving the sum applicable to the payment of interest from the receipts at $907,200, which would fall short of the in- terest supposed to be due over half a million GLORIOUS NEWS FROM THE KAST. OHIO PROBABLY DEMOCRATIC-GREAT GAINS. PACKER ELECTED IN PENNSYLVANIA Democratic Gains in lowa. From Ohio we have most cheering news. We give below all received, premising that every county shows Democratic gains; CINCINNATTI, Oct. 14. NEW compa been Banks by all in Bre doors The Banks future pay ter The Bank e tan, it lieved A pa terday Saving- rious ba Ano Fairfield county all in but towns; Demo- cratie majority 1300; Brown county, 1 township dem. maj. 22; Clinton co. 2 towns, dem. maj. 116; Stark co. 300 dem. maj.; Ashtabula Borough 244 dem. maj.; Loraine co. complete 1383 Rep. maj. Medina co. 800 Rep. maj.; Hamilton. Lick Run town- ship, Chase, Rep. 76 maj.: Clifton township, 35 maj.; Starr's township, Payne, dem. 94. CINCINNATI--24 Ward, Chase 107 maj. busines 3d Ward, Payne 290 maj. 4th Ward, Payne tinued 560 maj. 5th Ward. Chase 13 maj. 6th Ward of spec Payne 387 maj. 7th Ward, Chase 35 maj. posits i Sth Ward, Payne 100 maj. 9th Ward, notes w Payne 550 maj. 10th Ward, Chase 520 maj. 11th Ward, Chase 225 maj. 12th Ward, Payne 120 maj. 13th Ward, Payne 400 maj. 14th Ward, Chase 100. 17th Ward. Payne 135 maj. Wayne co co. 300 Dem. maj.; Greene co, 1200 Dem. maj., Sandusky co. 409 Dem. maj.; Huron co. 1500 Rep. maj. Lucas co. 200 Dem. maj. Henry co. 150 Dem. maj. Defiance co. 200 Dom. maj.; Wood co. 250 Rep. maj.; Lake co. 1400 Rep. maj.; Brown co., Union tp., Chase 272 maj. Highland co., Madison tp., Chase 94 maj.; Clermont co., Ohio tp., Chase 34 maj.; Athens co., Athens tp., Chase 131 maj. Warren.co., Furthe Creck, Clase 301 maj heard from Chase loses 40 votes in this county. Man amount by the mium. At th it was made op general cent. James the mee banks o gagemen duty of produce session o mittee ha Ata As far as afford e Summ't Co, Clase 1037 maj.: Clement county, Paine 500 maj: Brown county, Bird township, Chase 25 maj: Preble county, Chase 500 maj; Futler county, Paine 1200 majority. Further returnsgive about 10,000 Dem. gain in 45 countes. Legislature is pro bably Democratic The vote for Governor is close and the reult doubtful. CINCINNATI, Oct. 14. of the t ernor to end. A ingly ap this ever A me Savings was held they dy banks. Sever The S Perry county, Payne 450 maj.; Morgan county, Payne 600 maj.; Hamilton county Payne 3,500: Hardin county, Chase, 130; yesterda Democrats clain gain of 7,000 in 40 counties: Pickavay county, 550 for Payne: Fairfield county, 1,635 for Payne: Warren against county, 727 for Chase: Jefferson county. 150 for Chase: Guernsey, with one town to hear from, 500 br Payne Hancock, 200 for Payne Clinton, 729 for Chase Mus kingum, 400 for l'ayne Marietta, line not working Licking, 450 for Payne. The a not give Mr. 1 resolutio ing spec held from to withh A ver Suome extra se cognitio islature jority of Republi measure The very wa of the I and the them There islature law agu Bove Preside the best of this sion of ing acte taking All t & Trad This of Prat is anno From l'ennsylvania, we have news which shows that the Americans have not united upon WILMOT. This indicates the success of PACKER by a tremendous majority. PHILADELPHIA, Oct. 14. Complete returns foot up-Packer, 28, 000; Hazlehurst, 14,000; Wilmot, 10,000. Lehigh Co., 1,000 majority for Packer. From California. NEW ORLEANS, Oct. 13. The steamer Granada from Havana on the 10th, has arrived. The Northern Light hrige & million and a quarter of bullion. Granada experten gele on the 3d and 4th. and afterwards saw a wreck- name undiscoverable. CALIFORNIA ELECTION, Weller's major ity over both his antagonists is 11,000. Legislatures largely Democratic. Bates, ex-Treasurer, and Rowe, his clerk, have been committed to jail in default of bail. Chief Justice Murray is dead. Col. Cassey, of Tennessee, was killed in a duel with Mr. Blair. The overland mail from San Antonio,

16. October 24, 1857 Keowee Courier Walhalla, Pickens, SC
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NEW York, Oct. 15.-Judge Roosevelt has denied a motion for an order citing the Bank of New York to show cause why a receiver of that bank should not be appointed. The Judge has determined that when the officers of solvent banks are acting in good faith, no receiver shall be appointed. The fact of suspension of specie payments is not a proof of fraud.

17. October 24, 1857 Keowee Courier Walhalla, Pickens, SC
Article from Keowee Courier, October 24, 1857

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Col. Casey, at Stockton, which resulted in the death of the latter. We quote from the Stockton Argus the following partieulars, which show this to be about the bloodiest and most desperate duel on record A duel came off at an early hour Tuesday morning, a few miles from the city, between Mr. C. M. Blair and Col. Casey, both of Mercer county. A bitter animosity has for some time past existed between the parties, growing out of a rivalry in the a effort to obtain the hand of a Miss Lyoung lady of prepossessing personal appearance and accomplishments, at present residing with her father on the Stanislaus. Mr. Blair and Col. Casey met in the barroom of the Weber House, on Monday morning, each accompanied by friends, where a conversation ensued between them, at first apparently in a friendly manner but Blair, becoming vexed at the indifferonce which his rival assumed, made some severe charges, which Casey denounced as false, and at the same time rising from his seat, struck Blair a severe blow with his fist. Casey drew his revolver, but was prevented from using it by persons present. Blair, being unarmed, stepped back, but was pursued by Casey, who dealt him anothor severe blow upon the face. The friends of the parties, however, succeeded in preventing bloodshed, and restoring order; shortly after which, arrangements were made for a settlement of the difficulty by other means. Yesterday morning was fixed as the time of meeting, at applace three miles from the city, where the parties met about day-light, accompanied by a few spectators. The ground Was measured, a distance of ten paces, and the word being given, shots were exchanged. On the first fire, each party missed aim. The second shot took effect upon Casey, causing a slight flesh wound. Upon attempting the third shot, the cylinder upon Casey's pistol refused to revolve in consequence of an exploded cap lodging upon the tube, Firing was then discontinued for about ten minutes, during which time the weapons, Colt's six shooters, were reloaded in every chamber, and firing was again resumed. Each party exchanged six shots in quick suecΓ©ssion, without the "word," three of which took effect upon Casey, while Blair escaped without injury. The most dangerous wound received by Casey, was a shot which entered the peritoneum or abdominal lining. A ball also passed through the abdominal muscles. Notwithstanding the wounds received by Col. Casey, it is said that he exhibited an apparent unconcern throughout the firing. He was brought into the city by his friends, and is at present at the Magnolia House. Blair, as might have been expected, has made his escape, probably to await the result of Casey's wounds. We have known Col. Casey for a number of years as one of the earliest settlers upon the farming lands along the Tuolumne river. He is known and esteemed by a large circle of friends and acquaintances, as a gentleman worthy of all confidence and we trust that the unfortunate affair in which he has become involved, may not terminate fatally. The duel is, undoubtedly, one of the most desperate on record, and we only regret the necessity that compelled a resort to such hazardous means of adjusting a personal difficulty. The San Joaquin Republican says, that badly wounded as Col. Casey was, he insisted upon having another round of six shots each, which his friends, of course, prohibited. NEW YORK, Oct. 15. Judge Roosevelt has denied a motion for an order citing the Bank of New York to show cause why a receiver of that bank should not be appointed. The Judge has determined that when the officers of solvent banks are acting in good faith, no receiver shall be appointed. The fact of suspension of specie payments is not a proof of fraud

18. October 28, 1857 The Spirit of Democracy Woodsfield, OH
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List of Suspended, Depreciated and Discredited Banks. Leather Manufacturers' Bank, New York City; Hudson County Bank, Jersey City; Broadway Bank New York City; People's Bank New York City; Bank of New York; Farmer's Bank, Petersburgh, Va; Union Bank, New Orleans; Marine Bank, N. Y. City; Tradesman's Bank, " " " " Artisan's Bank, Butcher's and Drover's Bank, New York city; Market Bank, New York City; " " St. Nicholas Bank, " " Pacific Bank, " " " " Irving Bank, " Merchants Exchange," " " North River Bank, " New York Exchange," " " Citizens' Bank, " " Ocean Bank, " " Chatham Bank, " " Bull's Head Bank, " " East River Bank, Pratt Bank, Buffalo, New York, Belleville Bank, Illinois; " Bank of Chester, Stock Security Bank, Illinois; " Corn Exchange Bank, Bank of Pike County, " State Bank of South Caaolina, Charleston;

19. November 18, 1857 The Spirit of Democracy Woodsfield, OH
Article from The Spirit of Democracy, November 18, 1857

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THE SPIRIT OF DEMOCRACY List of Suspended. Depreciated and Discredited Banks. Leather Manufacturers' Bank, New York City; Hudson County Bank, Jersey City; Broadway Bank New York City; People's Bank New York City; Bank of New York; Farmer's Bank, Petersburgh, Va; Union Bank, New Orleans; Marine Bank, N. Y. City; Tradesman's Bank, " " Artisan's Bank, " " Butcher's and Drover's Bank, New York city; Market Bank, New York City; St. Nicholas Bank, " " Pacific Bank, " " Irving Bank, " " Merchants Exchange," " North River Bank, " " New York Exchange," " Citizens' Bank, " " Ocean Bank, " " Chatham Bank, " " Bull's Head Bank, " " East River Bank, " " Pratt Bank, Buffalo, New York, Belleville Bank, Illinois; Bank of Chester, " Stock Security Bank, Illinois; Corn Exchange Bank, " Bank of Pike County, " Woodsfield Retail Market [Corrected weekly by Sinclair & Baker.] WOODSFELD Nov. 17, '57. Flour per barrel, - - - - - - $5,00 Wheat per bushel, - - - - - - 70 Oats per bushel, - - - - - - 25 Corn per bushel, - - - - - - 37 Lard per pound, - - - - - - 10 Rice per pound, - - - - - - 9 to 10 Candles per pound, - - - - - - 18 Tallow per pound, - - - - - - 12 Salt per barrel, - - - - - - 3,00 Hams per pound, - - - - - - 8 Shoulders per pound, - - - - - - 7 Corn meal per bushel, - - - - - - 37 Eggs per dozen, - - - - - - 6 Tea per pound, - - - - - - 75 to 1,00 New Orleans Sugar per pound, - - - - - - 14 Molasses per gallon, - - - - - - 70 Rio Coffee per pound, - - - - - - 15 Java Coffee per pound. - - - - - - 18 Hay per ton - - - - - - 8,00 Fish per pound, - - - - - - 10 Nails 8d. 9d. and 10d. 5Β½ and 6ΒΌ Brooms per dozen, - - - - - - 2,00 Onions per bushel, - - - - - - 50 Timothy seed per bushel, - - - - - - 2,50 Butter per pound, - - - - - - 15 Potatoes per bushel - - - - - - 25 TO TEACHERS. THE Board of Examiners of Monroe County, Ohio, will, for the purpose of examining Teachers and granting Certificates to those found qualified, hold meetings in the Woodsfield Union School, on each of the following days, viz: Saturday, 24th Oct. at 8 o'clock A. M. " 7th Nov. " " " 21st " " " 5th Dee. " " " 19th " " The examination will commence each day precisely at 8 o'clock, A. M., and Teachers not present at that hour, will not be examined. By order of the Board. JOHN MOORE, Clerk. Woodsfield, Sept. 23, 1857. Sunfish Machine Shop. WILLIAM LITTEN, Proprietor. THE undersigned has purchased the whole of the Sunfish Machine shop, and Blacksmith shop heretofore managed by Kiernan and McBride. He is prepared to do any and all kinds of work in the very best style, and at moderate prices. This establishment has a reputation equalled by none other in the county. Oct. 28, 1857. WM. LITTEN. Notice

20. November 21, 1857 San Andreas Independent San Andreas, CA
Article from San Andreas Independent, November 21, 1857

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They have voted to resume specie payments, at the earliest moment, and in the meantime it is expected that they will increase their discounts. The feeling is now that the bottom has been reached, and that after a little time, necessary for men to look about them, and see where they are, business will improve. The prospects for the working classes, during the coming winter, are anything but encouraging. On the 13th, ult., the money market was extremely tight, and the failures constant and heavy. The Illinois, Michigan and Central railroad occurrences precipitated the climax which took place on Thursday, the 13th, up to 2 o'clock, fifteen City banks had suspended. The following are some of them :-Bank of New York, Butchers' and Drovers' Bank, Merchants' Exchange, Irving, Citizens' Bulls Head, New York, North River, Exchange and Marine. The assignment of the Illinois Central Railroad, caused great excitement in Wall street, New York; a general suspension was resolved upon. RAILROAD ACCIDENT.-A dreadful accident happened on Central Railroad, about six miles west of Syracuse. The recent rains had weakened the embankment on Nine Mile Creek, so that when the train came along, it gave way, and the cars were precipitated, one upon the other, into the stream. To add to the horror of the scene, the mail car caught fire, and all the mail bags save one, were destroyed.