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Browsing named entities in a specific section of The Daily Dispatch: November 24, 1860., [Electronic resource]. Search the whole document.

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Charleston Banks (search for this): article 1
hat the New York Banks had resolved to make common stock of their specie, and pay it out as long as it lasts, but it is generally supposed here, among those who ought to know, that they will probably all suspend before the close of the week. Our Banks have been pretty liberal in paying out specie to-day in small amounts to those who were in need of it. At the Corn Exchange a marked improvement was observable, buyers being anxious to purchase flour for export, but holders not quite so wille excitement attending this suspension, thus contrasting most singularly with the panic of 1857. At a meeting of merchants, at Alexandria, Va., Thursday, the following resolution was adopted: Resolved, It is the opinion of this meeting that the suspension of specie payments by the Banks of this city, is justified by the force of recent events beyond their control; and that the ability of said Banks to meet all their engagements, and their soundness, is not impaired by this course.
Cummings Jno (search for this): article 1
and we, as members of the Clearing-House Association, agree that we will not continue to exchange with any Bank which shall show by its successive weekly statements that it has violated this agreement. the Chairman appointed the following named gentlemen as the Committee: Moses Taylor, of the City Bank. James Punnett, of the Bank of America. R. W. Howes, of the Park Bank. A. S. Eraser, of the Seventh Ward Bank. Chas.P. Leverich, of the Bank of New York. Adjourned Jno. A.Stevens, Ch'n. W. F. Ho, Secretary. This movement of the Banks is generally approved by the press of that city. The Times says: The associated Banks of this city have followed up their action of Monday, in the direction of relief, by a further and more general movement, this afternoon, for meeting the until promptly and boldly by unlimited expansion, or by an expansion limited only by the legitimate business wants of their dealers.--To this end they have virtually resolved
Paris (search for this): article 1
hich impel it to success, with the exchanges all right, are, in the present sound condition of a trade simply overtaken by panic, perfectly irresistible. And, for one, we have little question of its wisdom if carried out, as we have every reason to believe it will be, with the same boldness of action and unanimity of purpose, as well as mutual good faith, which inspired it. We desire to express no hasty opinion or confidence as to how this matter is to work.--Its success in London and Paris, in seasons of trial, has, we believe, been invariable — certainly in the English capital. But, come what may, this much we do rejoice at, that the bankers of the city of New York have made their Association a real and substantial unit, resolving that it is better, if need be, to go down together, and in advance of general mercantile bankruptcy, which a different course might entail, in the effort to arrest the panic by expansion, rather than seal their own folly and shame by breaking in th
A. S. Eraser (search for this): article 1
ll below that proportion shall not make loans or discounts until their position is re-established; and we, as members of the Clearing-House Association, agree that we will not continue to exchange with any Bank which shall show by its successive weekly statements that it has violated this agreement. the Chairman appointed the following named gentlemen as the Committee: Moses Taylor, of the City Bank. James Punnett, of the Bank of America. R. W. Howes, of the Park Bank. A. S. Eraser, of the Seventh Ward Bank. Chas.P. Leverich, of the Bank of New York. Adjourned Jno. A.Stevens, Ch'n. W. F. Ho, Secretary. This movement of the Banks is generally approved by the press of that city. The Times says: The associated Banks of this city have followed up their action of Monday, in the direction of relief, by a further and more general movement, this afternoon, for meeting the until promptly and boldly by unlimited expansion, or by an expansion limited o
James Punnett (search for this): article 1
al to one-fourth of its net liabilities, and say Bank whose specie shall fall below that proportion shall not make loans or discounts until their position is re-established; and we, as members of the Clearing-House Association, agree that we will not continue to exchange with any Bank which shall show by its successive weekly statements that it has violated this agreement. the Chairman appointed the following named gentlemen as the Committee: Moses Taylor, of the City Bank. James Punnett, of the Bank of America. R. W. Howes, of the Park Bank. A. S. Eraser, of the Seventh Ward Bank. Chas.P. Leverich, of the Bank of New York. Adjourned Jno. A.Stevens, Ch'n. W. F. Ho, Secretary. This movement of the Banks is generally approved by the press of that city. The Times says: The associated Banks of this city have followed up their action of Monday, in the direction of relief, by a further and more general movement, this afternoon, for meeting the un
P. Leverich (search for this): article 1
discounts until their position is re-established; and we, as members of the Clearing-House Association, agree that we will not continue to exchange with any Bank which shall show by its successive weekly statements that it has violated this agreement. the Chairman appointed the following named gentlemen as the Committee: Moses Taylor, of the City Bank. James Punnett, of the Bank of America. R. W. Howes, of the Park Bank. A. S. Eraser, of the Seventh Ward Bank. Chas.P. Leverich, of the Bank of New York. Adjourned Jno. A.Stevens, Ch'n. W. F. Ho, Secretary. This movement of the Banks is generally approved by the press of that city. The Times says: The associated Banks of this city have followed up their action of Monday, in the direction of relief, by a further and more general movement, this afternoon, for meeting the until promptly and boldly by unlimited expansion, or by an expansion limited only by the legitimate business wants of their de
January, 2 AD (search for this): article 1
or mutual aid and protection, and the Committee shall have power to equalize the same by assessment or otherwise. For this purpose statements shall be made to the Committee of the condition of each bank on the morning of every day, before commencement of business, which shall be sent with the exchanges to the Manager of the Clearing-House, specifying the following items, viz: 1 loans and discounts. 2 Deposits. 3 Loan certificates. 4 specie. resolved that after the 1st of February next, every Bank in the Clearing-House Association shall have on hand, at all times, in specie, an amount equal to one-fourth of its net liabilities, and say Bank whose specie shall fall below that proportion shall not make loans or discounts until their position is re-established; and we, as members of the Clearing-House Association, agree that we will not continue to exchange with any Bank which shall show by its successive weekly statements that it has violated this agreement. th
November 21st, 1860 AD (search for this): article 1
The financial crisis.important action of the New York Banks, At a meeting of the officers of the banks of the city of New York, at the Merchants' Bank, on Wednesday, the 21st of Nov., 1860, the following proceedings were unanimously adopted, viz: In order to enable the banks of the city of New York to expand their loans and discounts, and also for the purpose of facilitating the settlement of the exchanges between the banks, it is proposed that any bank in the Clearing-House Association say at its option, deposit with a committee of the persons — to be appointed for that purpose — an amount of its bills receivable. United State stocks, Treasury notes or stocks of the State of New York to be approved by said committee, who shall be authorized to issue there upon to said depositing bank certificates of deposit, bearing interest at seven per cent per annum, in denominations of five and ten thousand dollars each, as may be de to an amount equal to seventy five per cent of such
1857 AD (search for this): article 1
1 o'clock on Thursday. The Bulletin, of that afternoon, says: The suspension was determined on as a precautionary measure, to enable the Banks to expand their discounts and thus aid our business men, and to prevent any of the wild scenes of 1857. The Banks are strong and abundantly able to meet all their liabilities.--While we regret that it should have been thought necessary for the Banks of Philadelphia so soon to follow the example of those of Baltimore, Washington and Virginia, we trust it may prove advantageous, and bring us sooner to a brighter prospect. There has been but little excitement attending this suspension, thus contrasting most singularly with the panic of 1857. At a meeting of merchants, at Alexandria, Va., Thursday, the following resolution was adopted: Resolved, It is the opinion of this meeting that the suspension of specie payments by the Banks of this city, is justified by the force of recent events beyond their control; and that the ability o
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