Farmers And Mechanic's Bank

r The suspension of pnyment by tliis institu , lion wil! probably be known (o all our read- ers bcfore our pnper wil) reach them. lt took H place on Saturdny, June 14th. The officcre I of the Dank have put forth un exposition of I 1 the occasion of its 6iifpensin vvhich is too leng-thy for our columns. We gather from ir tliö following1 particular.; In Junuary lasl the circulation of the Bank was $345,000, of which 260,000 has since been redecr.ed ir; coin, or eastern exeñange nndfunds, leaving $85,000 outsiandwg, besides 810,000 due !o depositare. Tiiis seem, to show thot the Bonk has had a very hard run. Mr. J. L. LyeJI, a broker of Detroit, i= referred to as bayiog been active in curtoiling j [theircirctilution. To secure the instituí ion apainst his eïïnts, the directora ordered threc suitsat law to be commenced against him and his associntes. Mr. Lyell, in return, pioJ curod un injunction from the Chancello for an alledgcd violation of their charier in establishing- agencies at Chicago ana Cleveland, and a refusal to redeem at Detroi? the no'.es of their branch at St. Joseph. Thus the business of the Bank is entirdy stopped.- Whetherlhe managers of the insliiution hope to gel the injunction taken off and attempt to do business again, does not appear from their statement: but we infer to the coutrary from ! heir speakingof the injunction as "a moet r iisaatrous and fatal attack ' upon them. 'Thus one more bonk hna eeased operationf - leaving only three remaining in the Staten the Michignn Insurance Company at Detroit o which is the deposite bank of the U. StatestheOoklandCountyBonkatPontiac, and th. 1 River Raisin Dank Bt Monroe. The last failï ed a few years since, but has bpen reauscita, ted. The Oakland Bank is distrusted on act count of fa alledged connection witfi I Uie breken Bnnk of St. Clair. The I natura! conspquence of the suspension of the Farnurs nnd Mechnnics Bank wil] he to diminish confïdenco in the remaining Bnnks, and a run upon them, lo a greater or less extent, uill follnw. Mr. Lyell has sjoce published a reply to the stntement of the officers of the Bank, setting forth that the injunction served on them did not interfere in the lenst with their ordinary business or with the redemplion of their notes, but was intended to prolubit the bank frnm approprialing he best assets for the security of preferred and favorite creaitors.- But ho admits that on order was sent at the same time requiring the officere of the Bank to show cause, on Monday füllowing, at the Chancellor's office why o full injunction should not issue to suspend the business of the Bunk.