Jasper Banner, Volume 2, Number 8, Rensselaer, Jasper County, 29 March 1855 — The Crisis in California. [ARTICLE]

The Crisis in California.

cqpv from the New ing Post of Monday: .... X • The news from the Pacific, by the Northern Light, is of the greatest importance. A general financial convulsion has succeeded the announce* ment of Page, Bacon & Co.’s fail are, 1 and all the principal banking houses in California bad been forced to suspend. Pttgexßacon & Co., succeeded in making ah arrangement, with their I creditors before the steamer saijed, ' which, it was thought, would enable 'the ojher leading houses, including ; Adam’s &t Co.; and Wells, Fargo & ' Co; to resume payment after only two or three days’ suspehsion. , ...\Ve are requested to state, that the Toiise'of Adam’s & Co.; which has failed, is no longer connected with the firm of that name in this city.— There was formerly a connection bei tween the two, which WM disolved ' last spring, by the sale on the part of i the New York company of their en- • tire California interests to Messrs. I Ogden, Adams and I). H. Haskell, i~who arp now the proprietopiofthe business there. f —We have recieved Yrom Wells, ' Fargo & Company, of this city, the j following statement, which will be readw ith satis faction i. ■ ■■ . .. To The Public.—To allay all excitement and put a stop to false ru- • mors, we deem it our duty to state that in consequnce of the suspicion ■ofthe large bankers in San Francisco, the house of Wells, Fargo & Com- i pany, hi that city, have advised us of i I their temporary suspension. It is proper for us to state that the! rCdufse^f"t)U^nesS _ tn"C"atilornta re- ■ quires large arnonts of coin to be sent, I between the sailing of each stenmer, to the mines lor the purchase of gold ■ dust; thtsMaet, together with the gen- : without sufficient coiato pay their j depositors. This occasioned the suspension at the San Francisco office, ’ while many of their interior agencies ; continued to pay as usual. ' Wells, Fargo A: Co., are a Joint J Stock Company with upward of one hundred and twenty shareholders, Tniany of whom are men of large wealth. They cannot do otherwise 1 than meet they* engagements. p The business of the house in this . city will go on as usual. WELLS, AItQO 9 O ' We have also received the followl ing note, covering a letter from Page, Bacon de Co., in California, to their agent in this city, to which our commercial readers will attach due imI portance; To THE EniTOJtS OF THE EvENINO Post: i By this steamer Mr. Hoadly, who • is now acting as agent of Page, Ba- • con & Co., in this city received a let- ; ter from which I send you an extract, j I have no doubt that the house re- : sumed in a day or two after its date. Yours truly, Sam’l. L. M. Bariow. Extract from a letter of Page, Bacon & Co., to David |loadley, of I Tills City, Dated Febuary 25,1855. — “We are happy to inform you that i wehave to-day made perfect arrangei ments to again resume, and shall do Iso in three or four days, wheh we | hope to regain all we may have lost. We have been so overcome the last week with the great excitement, that we are unable, by this steamer to say more; but the Golden Gate sails'in three days from this, and we shall write you more fully by her. But one thing you may assure our New York , friends that we have ample funds, l and that our firm, will again go on as usual.

Washington, March .19. Secretary Dobbin is still confined to his house. The President had an interview with him to-day. It is rumored orders, go. out to. Havana for the naval force there to seek reparation for the El Dorado outrage. The steamer Princeton with ten heavy. gttM, is alreadythere; .the. steamer Fulton with five guns; the frigate Columbia, with fifty guns; and the sloop Falmouth, with twenty guns, are either there now or will be very Soon. They are all under command of Commodore Newton There is an additional force of fiftyfour guns at Norfolk ready, if wanted, at short notice? The Administration is firey, but I don't know how long it will continue so. . ...J.. I r t.. , - TpE Poms case.—. The parties implicated in the Poole murder were yesterday, March 19th, examined by the Ooronor, and recommitted to the Tombs to await the action of the Grand Jury. They severally denied the participation in the murder.— Turner was top ill to bear an examination. It is thought he will loose his life if ho does not consent to have • hi« arm amputated. I choicest pleasures of life I? is within the range of moderation. —k-- r ,. 1 T

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