North River Bank (New York, NY)

Episode Information

Episode UID
976831690694
Episode Type
Run → Suspension → Reopening
Bank Type
trust
Bank ID
97683169 hash
Start Date
October 1, 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
dfc96bd9300f46c2

Response Measures

None

Description

Bank suspended during the Panic of 1857 and later was in receivership but was relieved and resumed in 1858.

Events (4)
1. October 1, 1857* Other
Newspaper Excerpt
A. B. Hays ... appointed Receiver of the Bank (after the troubles of last Fall). (receiver appointment referenced in later reports).
Source
newspapers
2. October 13, 1857 Run
Cause
Macro News
Cause Details
Part of the widespread Panic of 1857 and general runs on Wall Street banks; targeted withdrawals against North River.
Measures
Bank officers resolved to close doors; paid out until funds approached exhaustion.
Newspaper Excerpt
There is a general run on the Wall street banks...The North River ... was reduced $10,000 in coin at three o'clock.
Source
newspapers
3. October 13, 1857 Suspension
Cause
Macro News
Cause Details
Suspension amid the general panic and heavy withdrawals during the October 1857 crisis.
Newspaper Excerpt
The following banks have suspended to-day: ... North River ... There is a general run on the Wall Street banks and intense excitement in the street.
Source
newspapers
4. August 11, 1858 Reopening
Newspaper Excerpt
The Judge ordered judgment ... that the Receiver deliver the assets to the Bank, and that the Receiver be discharged. It is stated that the Bank will resume business in a few days.
Source
newspapers

Newspaper Articles (19)
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 The Davenport Daily Gazette Davenport, IA
Article from The Davenport Daily Gazette, October 14, 1857

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Later: General Nuspension I : Messrs. Cook & Sargent received yesterday afternoon a dispatch stating that the following New York Banks had suspended Marine Bank. Irving Bank Citizen's Bank. New York Exchange Bank Ocean Bank North River Bank Merchant's Bank. It is expected that the others " il suspend forthwith, and there is but littl. 'oubt that the Boston Banks, and all the Panks of New England will have to suspend this week. A tremendous excitement prevailed at New York yesterday.

3. 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.

4. October 15, 1857 Marshall County Republican Plymouth, IN
Article from Marshall County Republican, October 15, 1857

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General Bank Suspension and Excitement in New York. NEW YORK, Oct. 13. The following banks have suspended today: Marine, Ocean, Merchant's Exchange, New York Exchange, North River, Irving, Citizens, Chatham, Bulls Head, St. Nicholas and Market Street Banks.There is a general run on the Wall Street banks and intense excitement in the streets. Policemen are stationed at many of the banks to preserve order. BOSTON, Oct. 13. The suspension of Messrs. Geo. T. & W. P. Lyman, commission merchants, on state st., is announced. Harrisburg, Oct. 13. The House reconsidered yesterday's vote on the reiief bill, by a vote of 55 to 32.

5. October 15, 1857 Holmes County Republican Millersburg, OH
Article from Holmes County Republican, October 15, 1857

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Suspension of New York Banks. NEW YORK, Oct. 13. The following banks have suspended today: Marine, Ocean, Merchants Exchange, N. Y. Exchange, North River, Irving, Citizen's, Chatham, Bull's Head, St. Nicholas and Market Banks. There is a general run on all the Wall Street Banks, and intense excitement in the street. Policemen are stationed at many of the banks to preserve order.

6. 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,

7. October 16, 1857 Fremont Journal Fremont, OH
Article from Fremont Journal, October 16, 1857

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ous Bank Suspensions--Heavy Run on the Wall Street Banks Police Called Out!!! NEW York, Oct. 13. The following banks have suspended today Marine, Ocean, Merchant's Exchange, New York Exchange, North River, Irving, Citizen's, Chatham, Bullshead, St. Nicholas and Market Banks. There is a general run on the Wall St. banks, and intense excitement in the street. Policemen are stationed at many of the banks to preserve order. BOSTON, Oct. 13. The suspension of Messrs. Geo. T. & W. P. Lyman, commission merchants, on State street, is announced. NEW York, Sept. 12. No important event to-day in money affairs beside the suspension of the Grocers Bank. There were a few unimportant failures of merchants. There is a rumor that a party of business men have gone to Albany, to urge the Governor to call an extra session of the Legislature. At the clearing house to-day, it was resolved by the Banks to continue specie payments at all hazards. The failure of the Merchant's Bank created no excitement.The other banks will continue to receive its bills on deposit. There was a renewal this morning of the run on the Brooklyn Savings Bank, but all demands were promptly met. There was also a slight run on the Marine Bank, and the Grocer's Bank. Dispatches from St. Louis announce the failure of Doane, King & Co., and Collins, Kerby & Co., of that city, each with liabilities in Atlantic cities of one million. Our Bank returns to-day show a decrease in loans of upwards of $2,500,000, and an increase of $3,750,000 in specie. At the 2d Board to-day, stocks were lower generally. I.C. bonds 50; N. Y. C. R. R. 53; M. S. 9; I. C. 703; C. & T. 22; C. & P. 8; Erie 8; Cal. & Chi. 54; Ch. & R. I. 55; Harlem 51. The sailing of the steamer Atlantic for Liverpool has been postponed till the 24th. BOSTON, Oct. 12. Nothing new to notice in money affairs. The stringency continues, and with little transaction.

8. October 17, 1857 Republican Vindicator Staunton, VA
Article from Republican Vindicator, October 17, 1857

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More Bank Suspensions in New York. NEW York, Oct. 13.-Eight Banks in this city suspended specie payment this morning, namely: The Marine, Pacific, New York Exchange, Merchants' Exchange, North River, Citizen, Irving and Ocean Banks.

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

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W. B. Dunean, of the banking-house of Duncan, SherMAD & Co., and his family. The business at the banks is moving on quietly. Nearly all the State money which has been received over the counters thus far, has been deposited with the Metropolitan Bank for certificates, to be used in settling Clearing-House balances. The amount in the aggregate already exceeds half & million. This has temporarily reduced the volume of currency, in the place of which the public have the gold drawn from bank during the panic. To augment the safety of the present system of receiving currency at par, the banks are requiring the free banks to put up additional securities with the Bank department; and the safety-fund banks which are at all doubtful, to place a certain amount of securities with Metropolitan Bank. In regard to loss, if any, which may eventually result from the State currency, which is represented by the Metropolitan certificates, it is not fully decided what course will be adopted, but it will probably be charged pro rata to the banks in the Clearing-House, according to their capitals. The North River Bank was expelled from the Clearing-House to-day as it is going into liquidation. The Grocers' has applied for reinstatement. The Bowery, we hear, is about to be relieved from its receivership, and go on as before. A dividend of 50 P cent on the deposits of the Mechanics' Banking Association is being paid to-day. At a meeting of the Board of Directors of the Manbatten Company, this date, Mr. John S. Harberger was asanimously appointed assistant cashier. The following is the list of banks received in deposit at the Metropolitan Bank at par:

10. October 20, 1857 Mineral Point Tribune Mineral Point, WI
Article from Mineral Point Tribune, October 20, 1857

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Bank Suspensions-Steamboat Accident. NEW YORK, Oct. 13. The following banks have suspended to-day: Marine Ocean, Merchants Ex. change, New York Exchange, North River, Bulls Head, St. Nichols and Mar. ket Banks. There is a general run on the Wall street banks, and intense excitement in the street. Policeman are stationed at Banks to preserve order. The Fall River steamer Empire State struck a rock at Hurlgate, last evening during the prevalence of a dense fog, and had a large hole stove in her bow. She was backed off and groped her way to this city where she landed all her passengers in safety. The water was at one time above the cabin floor, but never be. yond the control of her pumps. She was entirely free of water at 12 this M., and goes on dock to-day for repairs. The baggage and freight escaped uninjured.

11. October 20, 1857 Mineral Point Tribune Mineral Point, WI
Article from Mineral Point Tribune, October 20, 1857

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Boston, Oct. 13. The suspension of Messrs. Geo. T.& W. P. Lyman, commission merchants on State street is announced. New York, Oct. 13. The following banks have suspended to-day: Marine, Ocean, Merchants, Exchange, N. Y. Exchange, North River, Irving, Citizens. Chatham, Bulls-Head, St. Nicholas and Market Banks. There is a general run on the Wall street Banks, and intense excitement in the street.— Policemen are stationed at many of the Banks to preserve order.

12. October 20, 1857 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, October 20, 1857

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tonard Philode: bia; bat to long as New.Y k CODtimuce to be the great monetary Clearing Hocke of this country. capital CARDO be driven away for such cause. The Weekly Bast Statement was looked for with much interest, and has been generally received as more faverable than was anticipated The figures of the specie reserve are more than & million larger than W&8 looked for, and the banks probably hold to-day & million more than is shown in the average. This result shows that as before noticed the banks have been receiving back over their countersthe gold which was drawn from them on Tueeday. The premium on gold is 80 small that many parties choose to deposit it in bank again. The line of loans is down nearly to $97,000,000, showing that & sharp contraction was going on during the latter portion of last week. The figures are now lower than at any time since January, 1856. The run of Monday and Tuesday is most fully shown in the deposits. which show a falling off in the undrawn line of $6,460,000. The actual decrease since July last reaches the enormous amount of $47,344,620. The circulation which was reduced during the run has been issued again, and this item shows an increase of about half a million. It must be remembered that in addition to the specie, the banks hold probably over two millions of State currency, which is as available as specie in Clearing-House settlements and in payment of checks upon them. The comparison with last week is 88 follows: Circulation. Deposits. Loans & Dis. Specie. $63,301,681 $7,523,599 $ Oct. 10 $11,476,294 $101,917,569 Deduct North 586,241 122,707 42,073 940,336 River Bk $62,715,440 $7,400,892 $11,434,221 $100,977,223 52,894,623 8,087,444 7,843,230 97,245,826 Oct. 17 $9,820,817 Decrease 13,590,991 $3,731,397 $684,549 Increase The North River Bank having been expelled from the Clearing-House, sent in no statement to-day. The transactions of the Clearing-House were in the aggregate $20,000,000 less than for the previous week, which reduces the loss of Deposits to about $6,400,000, as follows $62,715.440 Oct 10, Deposits 13,556,505 Average Clearings $49,158,935 Undrawn Deposits $52,894,623 Oct. 17, Deposits 10,198,617 Average Clearing $42,696,012 Undrawn Deposits $6,462,923 Decrease

13. October 28, 1857 The Spirit of Democracy Woodsfield, OH
Article from The Spirit of Democracy, October 28, 1857

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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;

14. April 16, 1858 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, April 16, 1858

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The State Canals are to be opened on the 20th April. The business of the Clearing-House was $19,591,619. The Metropolitan certificates are reduced to $245,000. At the meeting to-day of the Cumberland Coal Company, Mr. E. H. Miller was elected a Director, and Mr. F. Bloodgood, who resigned yesterday, was reelected, vice Mr. E. W. Hinman, resigned. The amendments to the charter of the Company author. izing issue of a preferred stock, and also releasing the Company from the obligation to mine and ship annually a given amount of ecal, were ulanimously accepted. A circular embodying the plans of the Company is in preparation. The new parties who have taken hold of the affairs of this Company feel confident that with the increasing demand for this coal for locomotive and other steam purposes, and the reduced cost of transportation by canal and railroad, they can work the mines of the Company profitably. The bill in regard to the Mechanics' Banking Association, North River, East River and Grocers' Banks of this city, has become & law. This permits the reduction of their capital, and removes any objections which may have been raised by reason of their liabilities having been paid through Receivers. The annual meeting of the stockholders of the New Jersey Central Railroad for the election of nine Directors to serve for the ensuing year, will be held at Elizabeth. port on Monday, May 3. Three per Cent Treasury Notes are not plenty and are wanted for Custom-House purposes at 20 a 30c. ₽ $100. The Four @ Four and & half per Cents are worth about par, and the Five per Cents P cent premium. The cargo of the J ohn Gilpin, the loss of which ship we announ xed yes'erday, consisted of 6,394 bble., whale and 395 bble. sperm oil, and 227,693 to bone, valued at over $300,000. In COD. sequence of this wieck, bone has advanced, with large sales, 5c. t 1b. The movement of the Banks in the four principal cities of the Union, in which weekly reports are made, as shown by their last statements, is as follows:

15. April 16, 1858 The New York Herald New York, NY
Article from The New York Herald, April 16, 1858

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FINANCIAL AND C'OMMERCIAL. MONEY M/ ARKET. SURSDAY, April 15-6R M. The stock market was r n at all active morning, But prices generally wer . better. In New York Central and Erie Railroad the tendency from the opening to the alose was upward. a as a elight advance was realized. Bending and Chicago and Rock Island were in demand. Milwaukie and Mis aissippi was lower. The company inYeard issuing new mortgage bonds for the purpose of funding the Boathng debt and settling up a lot of odd ends in - financia', affairs. The new issue, we believe, will be for two Lmillson of dellars. Nicaragua Transit sold this merning at three per cent. There is yet no decided movement this stock, and we do not know that one is contemp) ated. The operations 80 far have been rather of a myst erious character, and not to an important extent. Par ac Steamship Company stock fluctuates strangely. By sterday it sold at 75; this morning it opened at 77 and wa off at 783/2 per cent cash. Hudson River Railroad Pappears to be about the steadiest stock in the market. The transactions at the early board to day were less than a hundred shares at the closing prices of yesterday. Gleveland and Toledo closed dull and heavy at 44 per cent. The seven per cent bonds of the company are selling at 58, only 9 per cent above the current price of the stock. Reading opened this morning at 48½ and left off at 47% per cent. The coal business is in a wretched condition, and all the carrying companies connected with it must be serious sufferers in their income account. They are in a fair ay of ruising each other in the reduction of tolls and freight. Erie Railroad stock is very scarce in the street, notwithstanding which prices are with difficulty maintained. At the first board to-day Virginia State sixes di clined 1/4 per cent; Cumberland Coal, 1/1; Reading, ½; Minois Central Railroad, 13/2; Milwaukie and Mississippi, 3/2. Missouri State 6's advanced 1/4 per cent; La Crosse land grant bonds, ½; Pacific Steamship Company, 2½; New York Central, ½; Erie, ½; Cleveland and Toledo, %; Pasama, %; Chicago and Rock Island, ½. Sixth Avenue Bailroad stock sold this morning at 103% per cent. The Broadway Parallel Railroad bill is about as good as killed. . would be impossible to construct the line, and half a dezen acts of the Assembly would do the projectors no good. No railroad can be built in our streets without the consent of the corporation, and their acts would be go. verned a good deal by the desires of property holders along any contemplated line. This is in accordance with the last decision of the Court of Appeals, and in accordance with the meaning and spirit of the constitution, which is a Baste abead of any single act of the Legislature. A meet leg of the stockholders of the Cumberland Coal and Iron Compary was held at the office of the company this morn. mg. Between thirty and forty thousand votes were cast for the acceptance of the amendments to the charter recently passed by the Maryland Legislature. The meet. ins was characterized by entire harmony of views on the part of those present, and a committee of five appointed to prepare a circular to be addressed to the stockholders, stating the terms and objects of the proposed payment. The changes in the management of the company, recently made, result in the election of Mesars. Samuel J. Tilden, CharlesGould, Robert P. Getty, David Palmer and Edmund B. Miller. At the second board the market was lower and closed heavy. Harlem fell off ½ per cent; New York Central Railroad, 1; Erie, 13/2; Hudsen River, %; Reading, 136; Geveland and Toledo, 1; Medigan Southern, old, ½; Galena and Chicago, %; Chicago and Rock Island, 3/4. There was a very small amount of business transacted and at the close the tendency was decidedly downward. After the board lower prices ruled. None of the large operatore made any movement this afternoon and sales were made principally by the weaker portion of the street speculators. Holders of the bulk of stocks in the market are able to carry the entire load, for it is the easiest thing in the world to hypothecate anything on the list with the most favorable mergins. There is no danger of may quantity of stock pressing for sale 80 long as money montinues plenty and 80 cheap. The Assistant Treasurer reports to-day as follows:$226,610 88 Total receipts 274,199 92 Total payments 3,831,476 52 Total balance The recepts to day include $71,000 from customs, and the payments include $28,000 in California drafts. The bill before the Legislature in regard to the Mechanics' Banking Association, North River, East River, and Grosers' Banks, of this city, has become a law. This allows of the reduction of their capitals, and removes any objecNone that may have been raised by reason of their liabiliMee having been paid through receivers. The transactions at the Clearing House to-day were as follows:$19,591,619 41 Total exchanges Total balances 1,803,548 19 The Metropolitan currency certificates now amount to $245,000. The movement of the banks in the four principal cities of the Union, to which weekly reports are made, as shown by their last statements, is as follows:Loans. Deposits. Specie. Circuln,

16. August 12, 1858 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, August 12, 1858

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LA W INTELLIGENCE. SUPREME COURT-CHAMBERS.--August 11.-Before Judge CLERKE, THE ENGLISH EMBEZZLEMENT CASE. Jonathan Peel, her Britanic Majesty's Secretary of State for the War Department, agt. James Sutton Elliott. It will be remembered that Judge Ingraham denied defendant application to be discharged from arrest, but with liberty to renew it on his affidavit. An order was subsequently obtained requiring plaintiffs to show cause to-day why the order of arrest should not be vacated. This order being returnable to-day, Mr. Whittaker, for the plaintiff, applied for a postponement, on the ground that he was awaiting information from England and Canada as to the counter claim set up by the deferdant. He expressed his willingness for an adjournment for forty days, with the understanding that upon his obtaining the necessary affidavits &c., from England and Canada, he would apprise defendant's coursel of the fact, and bring on the motion on two days notice. Mr. C. A. Seward opposed this, quoting the Latin maxim, Timeo Danaos ct dona ferentes, as applicable to the proposition of Mr. Whittaker. He spoke of the hardships Mr. Elliott was forced to undergo, and the issufficient accommodations at the place of his confinement. The Judge seemed inclined to deny & postponement, but remarked that he could not hear the argument to-day, 88 he was going to leave the Court at 12 o'clock. He finally ordered it to be postponed till Lext Wednesday, at 10 o'clock a. m. THE NORTH RIVER BANK TO RESUME BUSINESS. Hiram Cranston agt. The North River Bank. To-day Mr. Wm. G. Sterling, counsel for the North River Bark, made an application to the Court to enter judgment upon the report of Mr. Hamilton W. Robinson, the referee in this case. From Mr. Robinson's report it appears that Mr. A. B. Hays, the Receiver of the Bank, took into his possession assets amounting to $1,236,488.52 and paid out $517,323 11, leaving assets, including some steck of the Bank, taken in payment of debts to the amount of $779,413 46. The Judge ordered judgment to be entered that the Receiver deliver the assets to the Bank, and that the Receiver be discharged. It is stated that the Bank will resume business in a few days. ALL ABOUT A BAG OF POTATOES. Archibald Brown was convicted at the Court of Special Sessions for stealing a bag of potatoes, and was confired in the Tombs. To day, Mr. Alanson Nash, his counsel, applied for a writ of habens corpus, with & view of testing the legality of Brown's conviction, and in the event of the Court sustaining it, to procure his client's liberty on bail, pending the appeal, which will be taken to the Court of General Sessions. Judge Clerke granted the writ, returnable forthwith. Richard Lathers agt. DECISION. Thos. H. Smithe et al.-Motion granted, with $5 costa, to abide event. Before Judge INGRAHAM. THE INJUNCTIONS AGAINST THE GERMAN THEATERS, The Society for the Reformation of Juvenile Delinquents agt. Adolph Reinhart et al. The Same agt. Charles S. Eustachi, The Same agt. William Behr. This was an application to make permanent the prelin inary injunctions granted by JudgeDavies, restraining the defendants from giving any further theatrical representations without licenses. The particulars of the eases were given several days ago. This morning Judge Ingreham directed an order to be entered deay. 06 the motions without gosta.

17. August 12, 1858 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, August 12, 1858

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The business of the Clearing-House arge-$14,476,351. The annexed letter will be read with interest by the holders of the La Crosse Bonds: NEW YORK, Aug. 11, 1858. " Mecare. WHITEHOUSE, SON & Morrison-Gentlemen: In arewer to your inquiry, I have to state that the modified trust deed of the La Crosse and Milwhukee Railroad Company of January last limits the whole issue of bonds on account of the road from Portage City to La Crose to $4,000,000; and though I have ast conferred with my associate trustees on the subject, I am confident that no bonds beyond the $4,000,000 al. ready issued will be countessigned by the trustees, which shall be a lien on that part of the road, or on the lands to which the Company has been entitled. Very respectfully yours, GREENE C. BRONSON." At the time of the general Bank suspension in October last, A. B. Hays, esq., the then Cashier of the North River Bark, was, on the application of Mr. Hirem Creastom, a creditor of the Bank, appointed Receiver thereof, and proceeded to pay off its debta and obligations. O2 the 23d of April last an order of reference was made to Hamilton W. Robineon, eeq., to hear and determine the action between Mr. Cranston and the Back, and pass upon the accounts of the Receiver. The Referes has made-his report, from which it appears that the Receiver took into bis possession property and affects of the Bank to the amount of $1,236,488 52, at has

18. August 14, 1858 The Daily Exchange Baltimore, MD
Article from The Daily Exchange, August 14, 1858

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Monetary and Commercial Rebiew. BALTIMORE, August 13, 1858. There has been a moderate business done in Stocks this week, the aggregate sales being nearly $370,000, the transactions at the Board to-day reaching about $70,000 Baltimore and Ohio Railroad has shown some little fluctua. tion through the week, opening on Saturday last with sales at $58 ¥ cash, $58 1/2 buyer 60 days; it afterwards sold at $59 cash, but to-day the sales were at $583, $58 % and $5834 cash, a decline of 3/4 since yesterday, $59 to $58 % buyer 60 days, and $58 % to $58% seller's option 60 days. There were some 4,700 shares of this stock sold during the week, of which 700 were to-day, when it closed at $58% bid, $59 asked, regular way; $58 % bid, $59 asked, buyer 60 days. The small difference between the cash and time rates is accounted for by the fact that there is very little cash stock offering. Northern Central has been rather heavy for the past few days. It opened last Saturday at $20 14 cash and short time, but during the week declined to $20, at which rate 850 shares sold to-day, both cash and buyer 60 days, and 200 shares at $19 %, leaving off at $19 3/6 bid, $20 asked regular way, $20 bid, buyer 60 days. There has been some little movement in Bank shares this week at about former rates, with sales to-day of 50 shares Mechanics' at $18 This description of securities is firm. In Canton there has been nothing doing; to-day $18 1/2 was offered. For Springfield Mining $2.1 was bid, $21/2 asked. Santa Clara Mining is held at $24 City Stocks have not been very firm. There were sales to-day of Baltimore 6's, 1870, at 97 1/4; 1886's at 98, and 1890's at 98%. Baltimore and Ohio Railroad bonds are scarce. The sales to-day were $1,000 1875's at 84, 1880's are held at 83 1/4 and 1885's at 85. During the week North ern Central 185 have shown some activity, but towards the close they exhibit a decline of about 3/4 per cent. from the opening. To-day there were no transactions, but they are held at 67 with 66 /4 bid. The last sales of NorthWestern Virginia were at 90 1/2 for 1st mortgage and 34 1/2 for unendorsed 3d mortgage. The money market is still without any material change. Most of our larger banks are unable to put out their re ceipts, and of course readily do all the good paper offered. There is very little of this paper on the street, and when met with prime single names are negotiated at 6 per cent. and good endorsed at 51/266 per cent. On call with City or State stocks as collateral loans can be effected at 5@6 per cent. The total value of foreign exports from the port of Baltimore for the week ending on Thursday was $189,621.The value of the foreign imports was $165,409, of which $44,407 were free goods, and $121,002 were dutiable. There was amuch better feeling at the New York stock boards to-day, and an improvement in prices of all kinds of fancies took place, the market closing steady. Canton advanced 1/2; Erie 14; New York Central 34: Reading 1): Panama 14: Cleveland and Toledo 1/2; Rock Island 1/4 Michigan Southern 1/2. and Hudson 1/2 The New York Times of to-day in speaking of the money market says: There are no signs to-day of change of rates in the Money Market, nor in the freedom of supply. Deposits continue to be left with the Brokers at 3@31/2 per cent., and demand loans are effected at from 3 1/2 to 5 per cent., according to the credit of the collateral security offered.We hear of transactions at 60 days, straight out, at 4 per cent. on Government Loan, with privilege to the borrower to return the money sooner, at his option. A number of the old Banks in the Street are more than willing to lend on this security, in exchange for part of the Specie reserve, which has been averaging of late far above their present or prospective wants. The old North River Bank has been taken out of the hands of the receiver, appointed after the troubles of last Fall, and is again restored to active business. The exchanges at the New York Bank Clearing House on Thursday were $17,452,263.89, and the balances $1,385,903.32 The business of the New York Sub-Treasury on Thursday was as follows: Total receipts $1,992,812 64 -Of which from customs 95,000 for loan 1,807,000 Total payments 179,494 : Balance 11,441,410 93 The Independent has the following in reference to the dry goods market: There is some improvement in the trade, but the activity is most shown in foreign silks and domestic prints and fancy cassimeres. The importations of new silk goods have been large, and bring out a fair demand from the jobbers. All desirable goods are firm in price, but the old stock, which is large, is sold only at a sacrifice. Heavy woollens have been imported at a reduced cost, and the stock here being already large, prices are declining. Buyers are sparing in their purchases. Domestic goods are rather weaker in price, especially delaines, the holders of which have got alarmed by the backwardness of trade, and are selling at a reduction in price. Prints of leading styles are in good demand, without change in prices. The importation of German cloths has been large, but these fail to command much consumption in the face of an overruling demand for fancy cassimeres. All prime qualities are firm in prices, but inferior goods are neglected. The market at New York is heavy for foreign bills, and the leading drawer has reduced his rate for sterling to 109% There is a better supply or outside bills, and the demand is quite limited. The following is a statement of the business done at Parkersburg Station on the North-Western Virginia Railroad for the month of July LBS. OF TONNAGE. REVENUE. SENT FROM PARKERSBURG. To Baltimore and Philadelphia 7,519,574 $26,478.16 1st Class Stations 76,634 216.54

19. September 25, 1858 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, September 25, 1858

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by the last Congress. He calculates D a revival to of imports to an extent which will et carry him on the Government, and absor 0 this amount at or before maturity. The Peace (Railroad) Jongress was in session again to-day, and the disc acions were harmonious. Nearly which point every b was taken up was amicably agreed npon, and Chere no doubt felt that the matters in dispute will arranged before the permanent adjournment. The basis generally adopted is that of the agreeme at of July 5th, at the St. Nicholas. The Conv ention was still in session last evening. We are authorized to say that the Board of Directors of the New-York, Providence and Boston (Stonington) Railroad Company have abandoned, for the present, the intention of leasing the New-Haven, New-London and Stonington Railroad Extension. The interest on the First Mortgage Bonds of the Milwaukee and Mississippi Railroad, will be paid on the 1st prox., by drafts on Milwaukee, with Exchange. The interest due 1st of October, on the 10 P cent Sinking Fund Bonds of the Pittsburgh, Fort Wayne and Chicago Road, will be paid at No. 37 William treet, the office of the company. The North River Bank has been relieved from its Receivership, and will recommence business on Monday next, at the same location as before. The bank has been thoroughly examined by the Superintendent of the Bank Department, and its capital, $316,000, pronounced full. Mr. Levi Apgar, a well-known grocer on the North River side, has been elected President and the former Cashier, and the late Receiver, Mr. A. B. Hays, has been reinstated in his position as Cashier. In settling the affairs of this bank, $339,000 of its own stock has been received in payment of debts. Every dollar the bank owed at the time of its suspension, has been paid in full. At a meeting of the creditors and bondholders of the Dubuque and Pacific Railroad Company, held at No. 44 Exchange place, New-York, to-day, Abram S. Hewitt was chosen Chairman, and John Kennedy was appointed Secretary. After free interchange of sentiment, the following preamble and resolution were submitted and unanimously adopted: Whereas, The plan submitted by the Board of Directors of the Dubuque and Pacific Railroad Company to the bondholders and creditors of said Company, on the 12th day of July, 1858, was acceded to by a majority of the said bondholders and creditors on the 2d day of September, 1858, with a condition that the stock to be issued in exchange for bonds and Moating debt under said plan should be of a preferred character; and Whereas, On investigation it appears that no stock carrying 8 preference can be legally issued by said Company: therefore, Resolved, That we, the bondholders and creditors present, do hereby agree to accept of said plan as proposed by the Board of Directors on the said 12th day of July, 1858, and we do recommend to the bondholders and creditors not present that they join us in such acceptance, provided each creditor may, at his option, take an equal amount of land scrip in lieu of any or all the fullpaid stock to which he would have been entitled under the plan proposed by the Directors. Among other important cases that are in preparation for trial at the present term of the United States Supreme Court, in Chicago, before Judge McLean, is that of George C. Bates V8. the Michigan Central and the Illinois Central Railroads, for possession of the valuable grounds on which the great Central Depot and adjoining buildings are located. The property in dispute is worth over a million of dollars. It is thought in Chicago that the case of Bates is 80 strong that the roads will offer some compromise. It is stated that the Little Miami, and Columbus and Xenia Companies, have nearly perfected the terms of a lease of the Dayton, Xenia and Belpre Road, between Dayton and Xenia, Ohio. Thompson's Bank Note Reporter says: We quote Land Warrants (Sept. 22) at the following rates: