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LATEST TELEGRAMS. AMERICAN FRESS ASSOCIATION. VIA 8. P. AND/IA. TELEGRAPH COMPANY. Specials to thelLedger. Suspension of Banks. NASHVILLE, September 25.-All Na. tional banks in this city suspended at 11:30 a.m. KOITA NEW ORLEANS, September 25.--All the banks here have suspended, but are paying large cheeks which go through the clearing house.
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BY TELEGRAPH THE CRASH. Financial Situation Throughout the Country. List of Additional Fallures and Suspensions. Five Hundred Men Discharged from Employment. WASHINGTON, September 26.-The following suspensions are reported today: Wooten, Webb & Co., Indianapolis; Danville (Va.) banks; Planters' bank, Farmville, Va.; Lancaster & Co., Richmond; Koutz & Smith, Toledo; bank of Ansonin, N. H.; J. J. Cohn, Augusta, Ga.; F. Washington & Co., Washington. RICHMOND, Va., September 26.-The Tredegar iron works discharged about six hundred men engaged in car building. NEW YORK, September 26.-The Sun says Adams' Express Company has carried daily to the interior $1,500,000. The United States Express Company has been carrying out about $500,000 daily. Twenty-four hours' notice is to be given before the Stock Exchange opens. The situation on Wall street this morning presented no new features. Business generally continues in a state of suspense. Foreign exchange has been reduced by bankers to 54@64 for long and short sterling. Gold has been strong, with more activity, and sales were made at 112g. Money 1@1 commission. Several parties are short of gold, and refuse to pay of per cent. NASHVILLE, September 26.-The banks have suspended currency payments upon checks of over two hundred dollars. The Board of Trade approves this action. ATLANTA, Ga., September 26.-At a meeting of the business men it was resolved to assist the banks by free deposits and light drafts. SAVANNAH, Ga., September 26.-In accordance with a resolution of the Chamber of Commerce, the banks are certifying checks, but withholding currency. CHARLESTON, S. C., September 26.The Peoples' bank of South Carolina, Peoples' Saving bank and South Carolina Loan and Building bank have suspended currency payments The National banks and other State bankspay as usual. CHICAGO, September 26.--Five National banks have suspended. LONDON, 4 P. M., September 26.--American securities. There was a large business, with wide fluctuations and much uneasiness, WASHINGTON, September 26.-The Star says that President Grant has appointed Jay Cooke, McCullough & Co., of London, financial agents for the Postoffice and State departments vice Clewes, Haviek & Co. NEW ORLEANS, September 27.-The banks have suspended for thirty days, for precautionary measures.
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# BANK SUSPENSION.-- In another place we give the address of the Presidents of the New Orleans Banks, announcing a suspension for thirty days, and giving their reasons for it. Of course this action will produce its effects throughout our State, and cause great inconvenience and distress, which we hope, however, will only prove temporary.
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NEW ORLEANS. NEM OREANS, Oct. 4.--The New Orleans Banking Association, C. Cavarock President, in accordance with a resolution of the Board of Directors last evening, goes into liquidation, and will be placed in the hands of a receiver. Owing to the assistance extended the bank by its President,"the house of Cavarock & Son has also failed.
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The New Orleans banking association goes into liquidation and will be placed in the hands of_a receiver.
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NEW ORLEANS. NEW ORLEANS, Oct. 5.-The Now Orleans National Banking Association, C. Cavoroc, President, in accordance with a resolution of its Board of Directors, held last evening, goos into liquidation, and will be placed in the bands of a Receiver. Owing to assistance extended to the Bank by its President, the house of O. Cavoroo & Son has also suspended.
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au unusual stato of things in large failures. There is n somewhat novel feature in the plan, which proposch, after the are figured up, to Issue "negotiable certificates of deposit," pro rala, among the croditors. Mr. Cooke might further strengthon thoso, perhaps, by tacking n Northern Pacific bond to onch 0110 of thom. It line been the purpose to send notice to each individual creditor for an assent to the proposition, but nH some of them may be forgotton in the extended list, thoro is an invitation, ex calhedra, for all croditora to address the firm nt Now York, Philadelphin, or Washington. In view of the fact that it is optional with every individual creditor to proceed against Jay Cooko & Co. in bankruptoy, it is hardly probable that Mr. Cooko's patout bankrupt not will succeed. The only nows of a panicky description is reported from Now Orlonns in the susponsion of the Now Orlonna National Banking Association, which goos into liquidation, and that of the banking firm of Covoroch & Son, which was a consequence of it. The local prospects are that the week will open with ronowed activity. The reports from the country banks are favorable without exception, which will lighten the burdons that any of tho Chicago banks may still fool. There is nothing now to impedo the regular progress of trado, and Chicago is in a better condition to accommodato the country dealors than any rival point of shipment. The effect of this advantage will be to increnso our business steadily.
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LOUISIANA. NEW ORLEANS, Oct. 6. The National Banking Association, C. Cavaroc President, in accordance with a resolution passed by the directors last evening. goes into liquidation. and will be placed in the hands of a receiver.
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Financial. The rates for money ranged higher on the street yesterday than they have for several days. Very few checks could be disposed of at a lower rate than six per cent, and even as high as ten was paid. Some banks have an advantage, checks on them being received readily, while the paper of others is passed with difficulty and paid for with hesitation. All the banks of the association are regarded as sound. The resolution of confidence of the Chamber of Commerce last evening must have a good effect. A resolution is published this morning, signed by 188 prominent business men of the city, supporting the banks and prowising to receive their checks as cash. These two facts ought to be sufficient to reassure the community. No apprehensions of any further failures are entertained. The suspension of the New Orleans National Banking Association has had no evil effect, notwithstanding the illadvised article in the Sunday issue of the Picayune. The bank promises to pay every dollar it owes and have a surplus for its stockholders. Not a note has been protested nor a single draft refused. Not more than $8300 of drafts are in the hands of New Orleans parties. From Europe offers of assistance in money have already been re. ceived. The firm of C. Cavaroe still continues business, although suspended. Offers of assistance in money and cotton are received. Its drafts on the country are houored. Currency closed at six per cent, with a tendency toward higher rates.
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Monetary--Commercial. MONETARY. OFFICE OF THE DAILY REPUBLICAN, MONDAY EVENING, October 6, 1873. Financial affairs were calmer to-day than could have been expected. The suspension of the New Orleans National Banking Association seemed to have had little or no effect on other banking institutions, although an attempt was made to discriminate between the certified checks of the different banks. This classifying of checks had a mischievous ef fect and excited vague feelings of distrust when none should exist. The entire community is directly or indirectly interested not only 111 check ing any tendency to panicky feeling among email depositors, but in strengthening confideduce in the bauks and preventing any unnecessary pressure upon them. It is only by giving the liberal support that depositors Jan expect reciprocal favors in the resumption of their usual business. Such unjustifiable discriminations caused some uneasiness to-day in certain quarters and incited a run on one of our most solid institutions, to meet which it had ample resources. There appears to be more probability that the New Orleans National Banking Association will quietly go into liquidation under the direction of its present officers In fact. nothing has yet occurred to require the inte position of the Controller of the Currency. The committee to confer with him in relation to the business of the bank Was to have started for Washington this afternoon. We also learn that decidedly encouraging telegrains have been received by Mr. Cavaroc from his European correspondents. urging him to go on and evincing unabated confider ce. Considering his ample 8 rpius, it is not unreasonable to anticipate that his suspension will be only temporary. The banks still conline their business mostly to renewals. On the street the demand for money continued etrong, but resulted in very little move ment. A few transactions were reported in first class paper at 2@2% t cent P month. Rates for other grades continued entirely nomina'. First class mortgage paper ie quoted at 10 P cent P an num, and second grade at 12. NEW ORLEANS CLEARING HOUSE. Balances. Cleanings. 124.710 86 October 4 $1,039,743.34 October 6 1,033 095 81 118,700 87 $243,411 73 $2,072,849 67 Thus far this week 280.882 30 1 391 287 23 Same time last week 4,469 635 7 77 Total last week 777,352 52 Total week before 3,923,147 81 744,744 38 Gold opened and closed entirely nomin); and the only transaction reported was $1400 at 120 in certified checks. The market at New York opened and closed at 110. touching at 110% during the interim. Silver continued entirely nominal, and no sales were reported. Sterling exchange continued nominal, bnt nego tiations were ffected of £6000. embracing £1000 Al clear at 116 £1500 00 at 117% £2000 do at 11712 and £500 and £1000 do at 118. We must still forbear from giving regular quotations. Nothing transpired in france. Domestic exchange was again quite unsettled. Some banks refused to check on New York one drew at 1 1/8 # cent premium, while others supplied the demand at 1. Private sigh continued entirely nominal. The sales comprised $15,000 commercial at 38 P cent premium, 10.000 do ai I, $5000 on Providence at 1 and $5000 New York sixty days' sight at 21/2 P cent discount. Nothing transpired to serve as a basis for the the quotation of any class of securities The market continued 100 unsettled to give even nominal figures.
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ELSEWHERE. WASHINGTON. Special Dispatch to The Chicago Tribune. WASHINGTON, D. C., Oct. 10.-A prominent Western Senator who conversed with the President a few days ago, represents the latter to be very decidedly opposed to an extra session of Congress for the purpose of having monoy mattors tinkored with. Gen. Grant believes action by Congress will como about soon enough that an extra sossion would CAUSE ADDITIONAL ALARM among the people of the country, as they would almost cortainly believe the condition of affairs to be very bad,-a great deal worsethan it really is; that no effort would be made by the people to improve matters, and themselves bring about a good healthy state of affairs, because they would be in suspense by the fact that Congress was at work with the object of doing something, but nobody could foresee what that something would be. The President soomed to be dosirons of having something doue that would put the business of the country once more ON A SPECIE BASIS: yet he seemed to believe in the expression made use of by Secretary Boutwell in one of his reports to Congress, namely, that apecio payment will como from natural causes and not through any special legislation by Congress. A COMMITTEE OF THREE GENTLEMEN arrived here to-day from Now Orleans, and suecooded in inducing the Comptroller of the Currency to allow the New Orleana National Bauking Association to conduct the liquidation of their banking concern, which suspended Homo time ago. This will obviato the necessity of the appointment of a Receiver, and, it is bolloved, will iusuro a more prompt and satisfactory settlemont of the indebtodness of the bank. Tho Banking Association has made cortain ropresontations to the authorities here, and if, upon examination, the bank is found to be in the condition represented, its affairs are to be wound up in accordance with Section 42 of the National Currency act. Other National Banks at Now Orleans are said to be in a rather shaky condition, though it is hoped they will all bridge over the present financial atriugency. Estimates of THE EXPENHES OF THE GOVERNMENT for the noxt fines. year have been completed by all of the execu. VO branches except the PostOffice Department, and one or two of the lesser bureaue. None ot them have AH yet been footed up, and will not likely be until within a vory short time before it becomes necessary to close them, in order to have them included in the report of the Secretary of the Treasury
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bosolos WASHINGTON. Appointments. W ASHINGTON, October 25.-Dr. M. F. Bonzono has been appointed surveyor general of Louisiana vice Foster, and John Cockrum receiver of the New Orleans national banking association.
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SPECIAL NOTICES. Notice.-The office of the Receiver of the New Orleans National Banking Association has been removed from the late bank building to No. 3% Carondelet street, up stairs. JOHN COCKBEM Receiver. aol 6t New Orleans, October 31, 1873.
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We learn from the New Orleans Picayune of the 23d that the associated banks of that city resumed currency payments the day before, after a suspension of nearly three months Cotton was pouring in the city with unexampled rapidity, one boat alone-the R. E. Leebringing in last Monday 5741 bales, the largest load of the season. The largest load ever brought to that port was 6500 bales; the steamer Magnolia brought it in 1859.
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JOHN COCKRELL, receiver of the New Orieans national bank association, is here and states the bank affairs to be in a much worse condition than those of the first national bank of New Orleans.
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The Citizen's Bank of New Orleans has suspended payments, and so great are the liabilities no hopes of its resumption are entertained. Time was when this bank was considered the soundest institution in the South. Under the control of men who have been reckoned by the common multitude as possessing great wealthwho have been looked upon as among the "oldest and best citizens of the State, a title that indicates the acme of human perfection in all things, monetary and otherwise, to the average Southern mind-yet has the concern proven a very whited sepulchre, which, with outward pretension that enchants the eye, reveals naught but rottenness within when its portals are thrown open to the public gaze. In the course of an article referring to the failure of the Citizens Bank, the New Orleans Banking Association and Crescent City Bank, the New Orleans Republican says How far our newspapers, who have been ever ready to bolster up tottering reputations, are to blame for such misfortunes, we will not now undertake to say. But we feel it our duty to notify the public that when the White League journals make a special business of parading the transcendent virtues of a public officer, or leading merchant, for no better reason than that he has lived here several hundred years, and is wonderfully identified with the interests of this people, the time has come to shorten * * * sail. We hope the mishaps of these first class kite flying concerns will teach the people of New Orleans that collaterals are safer than vaunted respectability, and portable property more solid than orthodox politics. It is a poor consolation to know that one has been ruined by people of the very best class.
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By D. E. Morphy. # SUOCESSION OF LOTON JENNINGS, DECEASED. Second District Court for the Parish of Orieans-No. 36,834. BY D. E. MORPHY-A. E. MORPHY, AUC-tioneer.-Will be sold on TUESDAY, October 13, 1874, at twelve o'clock M., in the Merchants and Auctioneers' Exchange, situated on Royal street, between Customhouse and Canal streets, as per order of the Hon. A. L. Tissot, judge of the Second District Court for the parish of Orleans, all the following personal effects, or property and real estate belonging to the above mentioned succes-sion- 1. A CERTAIN CLAIM against the New Orleans National Banking Association for the sum of $250 06, being the sum had by said deceased on deposit in said bank at the time of its suspension. 2. SIX SHARES of $100 each in the capital stock of the Sun Mutual Insurance Company of this city. 3. TWO CERTAIN LOTS OF GROUND, together with the buildings and improvements thereon, and all rights, wave, privileges and appurtenances thereto belonging, situated in the Fourth District of this city, in the square bounded by Carondelet (late Apollo). Philip, Brainard and Jackson streets, and designated by the Nos. 3 and 4; said lots adjom each other, and measure, each, 30 feet front on said Carondelet (late Apollo) street, by 97 feet 7 inches 2 lines in depth, between parallel lines, American measure. The improvements erected on said two lots consist of double two-story frame tenement, covered with slate, with halls two rooms deep in the main building, and roomy back buildings, so far as they occupy the aforesaid 97 feet 7 inches 2 lines, and no farther. 4. A CERTAIN LOT OF GROUND, together with the buildings and improvements thereon, and all rights, ways, privileges and appurtenances thereto belonging situated in the Fourth District of this city, in the square bounded by Jackson, Josephine, Laurent and Dryades streets, and designated by the No. 1. Said lot measures 21 feet 4-3 of an inch front on Jackson street, by a depth and front on Dryades street of 120 feet 2 2-8 inches, between parallel lines. The improvements thereon consist of a one-story frame building on the corner and front, with back rooms attached, and in the rear a small one-story frame building, consisting of four rooms, all covered with shingles. 5. TWO CERTAIN LOTS OF GROUND, together with the buildings and improvements thereon, and all rights, ways, privileges and appurtenances thereto belonging, situated in the Fourth District of this city, in the square bounded by Josephine, Dryades, Jackson and Laurent streets. One of said lots measures 20 feet 11 inches front on Josephine street, by a depth and front on Dryades street of 109 feet 6 inches, between parallel lines, and the other lot is No. 18, and adjoins the above, and measures 31 feet 6 inches 6 lines front on Josephine street, by a depth of 103 feet, between parallel lines. The improvements on said lots consist of a two story frame building, two rooms below and two above, together with a one-story frame building in the rear, occupied as a bakery, with requisite sheds. In the rear of the bakery is a small frame cottage containing four rooms, all covered with slate. Terms-Cash. Acts of sale before A. Hero, Jr., notary public. at the expense of the purchasers. sell 30 oct 13
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# AUCTION SALES. By D. E. Morphy. # SUCCESSION OF LOTON JENNINGS, DECEASED. Second District Court for the Parish of Orleans- No. 36,834 BY D. K. MORPHY-A. B. MORPHY, AUC- tioneer.-Will be sold on TUESDAY, October 13, 1874, at twelve o'clock M., in the Merchants and Auctioneers' Exchange, situated o. Royal street, between Custombocse and Canal streets, as per order of the Hon. A. L. Tissot, judge of the Second District Court for the parish of Orleans, all the following pe sonal effects, or property and real estate belonging to the above mentioned succes-sio- 1. A CERTAIN CLAIM against the New Orleans National Banking Association for the sum of $250 06, be ng the sum had by said deceased on deposit in said bank at the time of its suspension. 2. SIX SHARES of $100 each in the capital stock of the sun Mutual Insurance Company of this city. 3. TWO CERTAIN LOTS OF GROUND, together with the buildings and improvements thereon, and all rights, wavs, privileges and appurtenances thereto belonging, situated in the Fourth District of this city, in the square bounded by Carondelet (late apollo), Philip, Brainard and Jackson streets, and desiguated by the Nos. 3 and 4; said lots adjoin each other, and measure, each, 30 feet front on said Carondelet (late Apollo) street by 97 feet 7 inches 2 lines in depth, between parallel lines, American measure. The improvements erected on said two lots consist of double two-story trame tenement, covered with slate, with halle two rooms deep in the main building, and roomy back buildings, 50 far as they occupy the aforesaid 97 feet 7 mches 2 lines. and no farther. 4. A CERTAIN LOT OF GROUND. together with the buildings and improvements thereon, and ai rights, ways, privileges and sppurtenances thereto belonging situated in the Fourth District of this city, in the square bounded by Jackson, Josephine, Laurent and Dryades streets, and des guated by the No. i. Said lot measures 21 feet 4-8 of an inch tront on Jackson street, by a depth and front on Dryades street of 120 feet 2 2-8 inches, between parallel lines. The improvements thereon consist of a one-story frame building on the corner and front, with back rooms attached, and in the rear a small one-story frame building, consisting of four rooms, all covered with shingles. 5. TWO CERTAIN LOTS OF GROUND, together with the buildings and improvements thereon, and all rights, ways, privileges and appurtenances thereto belonging, situated in the Fourth District of this city. in the square bounded by Josephine, Dryades, Jackson and Laurent streets. One of said loto measures 20 teet 11 mches front on Josephine street, by a depth and front on Dryades street of 109 feet 6 inches, between parallel lines, and the other lot is No. 18, and adjoins the above, and measures 31 feet 6 inches 6 men tront on Josephine street, by a depth of 103 feet, Detween paralel lines. The improvements on said lots consist of a two store frame building, two rooms below and two above, together with a one-story frame building in the rear, occupied as a bakery, with requisite sheds. In the rear of the bakery is a small frame cottage coutaicing four rooms, all covered with slate. Terms-cash. Acts of sale before A. Hero, Jr., notary public. at the expense of the purchasers. selt 30 ocll 13
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New Orleans Banking Association, New Orieane, May 15, 1876. - Creditors of this association are hereby notified that a dividend of titteen percent will be paid on demand upon presentation of the receiver's certificate. mv166t N. W. CASEY, Receiver.
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SPECIAL NOTIOES. New Orleans Banking Association. New Orleans, May 15, 1876.-Creditors of this association are hereby notified that a dividend of fitteen per cent will be paid on demand upon presentation of the receiver's certificate. N. W. CASEY, Receiver. my16 6t
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Receiver's Office, New Orleans National Banking Association. No. 3½ Carondelet street, New Orleans, August 22, 1878-A dividend of TWENTY PER CENT will be paid to the creditors of this Association upon presentation of the receiver's certificate. N. W. CASEY, Receiver. au23 1w