17046. Western Bank (White Creek, NY)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
October 2, 1851
Location
White Creek, New York (42.970, -73.291)

Metadata

Model
gpt-5-mini
Short Digest
02716dd4

Response Measures

None

Description

Newspapers in early October 1851 report brokers refusing the bank's notes and explicitly state the Western Bank (White Creek) was 'announced as suspended' during the brief panic. A later item (Oct 23, 1851) reports the bank is redeeming its liabilities, indicating it reopened/paid its circulation. There is no clear description of a depositor run; the disturbance appears to be a brokers' panic/refusal to redeem country bank notes, i.e., a market/panic event rather than a physical depositor run.

Events (3)
1. October 2, 1851 Suspension
Cause
Macro News
Cause Details
Panic among brokers and widespread refusal to redeem New York state and eastern bank notes; the brokers' panic/refusal placed the bank 'under ban' and it was announced suspended during the October 1-3 panic reports.
Newspaper Excerpt
Western Bank, White Creek ... announced as suspended
Source
newspapers
2. October 3, 1851 Other
Newspaper Excerpt
Brokers ... refused the notes of the ... Western Bank, White Creek, N.Y.; reported failed / put under ban by brokers in New York City press (Oct 1-3, 1851).
Source
newspapers
3. October 23, 1851 Reopening
Newspaper Excerpt
the Western Bank of White Creek ... which suspended during the recent panic, is redeeming its liabilities, and that the bill holders will be able to have their bills taken up at the usual rates for sound State Banks.
Source
newspapers

Newspaper Articles (10)
1. October 3, 1851 The Daily Union Washington, DC
Article from The Daily Union, October 3, 1851

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The Mexican Revolution. NEW ORLEANS, Sept. - The revolution has commenced at Camargo, where the patriots attacked the Mexicans. The patriots, after a desperate fight, came off victorious having taken the town by storm, with a loss on the side of the Mexicans of sixty. The government troops were entrenched in a church with artillery.* The revolutionists are commanded by Gen. Carabyl, who has also with him two companies of Texans. At last accounts the revolutionists were marching on to Matamoras and Reynosa. General Avalos, who is at Matamoras, has only 300 troops. He had made a requisition on the city for two thousand, but the city refused to raise a single man. The plan of the revolutionists to carry out their project was by widely circulating pronunciamentos Tampico and its vicinity are in the hands of the, insurgents. The people af Matamoras were quietly aw stiting the arrival of the liberating army Further accounts are looked for with great auxiety. They will doubtless be of the most exciting character. Later from Havana - -All Quiet.-Movements of Mr. Letcher -More American Prisoners Captured, &c. NEW ORLEANS, Sept. -The barque Millandor, with dates from Havana to the 20th, three days later. has arrived She reports all quiet. The revenne cutter Daane, with Mr. Letcher on board, had arrived at Havana, and he was to proceed to Vera Cruz on the 22d, in the steamer Saranac. Ten more of the wounded prisoners connected with the Lopez expedition have been captured in the mountains and brought to Havana. Panic Among the Brokers. New YORK, Oct. 1.-Another bank panic has seized upon our brokers, who this morning refused all New York State and eastern notes. Several banks are reported to have gone by the board, but I decline giving names until something more definite is known. SECOND DESPATCH. NEW YORK, Oct. 1. - The Metropolitan Bank refuses to receive on deposite notes of the James Bank; Farmers' Bank, at New Rochelle ; Phonix Bank, at Bainbridge; Western Bank, at White Creek; and Merchants' Bank, at Ellery. Trains on the Hudson river railroad went through to Boston to-day for the first time. Fugitive Slave Remanded, S.C. BUFFALO, Oat. 1.-The fugitive slave Harrison had a hearing this afternoon, after which he was again placed in jail for further examination. An attempt was made to get up a disturbance, but it was quietly checked. SECOND DESPATCH. BUFFALO, Oct. 1.-Harrison, the fugitive slave, was, af ter a brief examination, remanded back to his master, N D. Payson, of Virginia. Arrest of a Fugitive Stave.-Violence of the Mob. SYRACUSE, (N. Y.,) Oct. .Considerable excitement prevailed here this afternoon, growing out of the arrest of an alleged fugitive slave He was seized by the mob, and made his escape, but was again captured. So great was the fear of a riot that two companies of military were called out, the alarm bells rung, &c. All is now quiet. Reported Illness of Hon. Daniel Webster. BOSTON, Sept. 30.-It is rumored in this city this afternoon that Hon. Daniel Webster is dangerously ill at Marshfield.

2. October 3, 1851 American Telegraph Washington, Georgetown, Alexandria, DC
Article from American Telegraph, October 3, 1851

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ELECTRO. THE PANIC.-A - good deal of alarm and great inconvenience was occasioned yesterday, by the announcement that the brokers would no longer redeem uncurrent bills of any description. Various reasons are assigned for this course. The brokers themselves say that the vast amount of uncurrent money thrown upon the market, within the past ten days, has drained them of their specie funds, and that they cannot obtain from the city banks, on any security, the amount requisite to continue their redemptions until they can realize from their country paper. It is surmised by many that this sudden and universal refusal of the brokers to purchase uncurrent money results from a wish to embarrass the Metropolitan Bank, which was established in this city a short time ago, for the purpose of compelling the country banks to keep their notes at par, or nearly so in New York. We do not see, however, that the "regulator" is likely to be affected by such a proceeding, inasmuch as it only discounts uncurrent money for its depositors. We are inclined to believe that the brokers are really short of funds, and moreover that they are a little nerv. ous, and wish to find out the weak spots before they venture to speculate further. Among the bills refused in trade yesterday, (in addition to the Salisbury, Md., and the Commercial" and "People's," N. J.,) were those of the following banks: Government Stock, Michigan; Union, Dover, New Jersey; Ocean, New Jersey; James Bank, Saratoga County, N.Y.; New Rochelle, N. Y.; Phoenix, Bainbridge, N. Y.; Merchants', Mina, N. Y.; Merchants', Canandaigua, N. Y.; Farmers', Mina, N. Y.; Western, White Creek, N. Y.; Our own belief is that there will not be any material loss upon the bills of the abovenamed institutions, and we should be loth to submit to a heavy shave on any of them. In Boston the money market is even tighter than it is here, and it would be well to keep a bright look-out for squalls to the eastward. The tess Eastern money a man takes the less he will lose by it. There is likely to be some sharp work this month and the next among the Eastern banks.-N. Y. Morning Star, Oct. 2.

3. October 3, 1851 The Southern Press Washington, DC
Article from The Southern Press, October 3, 1851

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Panic Among the Brokers. NEW YORK, Oct. 1st.-Another bank panic has seized upon our brokers, who this morning refused all New York State and Eastern notes. Several banks are reported to have gone by the board, but I decline giving names until something more definite is known. The Metropolitan bank refuses to receive on deposite notes of the James bank, Farmers' bank nt New Rochelle, Phenix bank at Bainbridge, Western bank at White creek, and Merchant's bank at Ellery. Trains on the. Hudson river railroad went through to Boston to-day for the first time.

4. October 3, 1851 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, October 3, 1851

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Article Text

SECOND BOARD 74 100 Erie R. R 86 $2,000 Erie Conv 5 $60 b30 54 1200 Ports. D. D 200 Read. R. R 50 N. O. Canal B. Co. 90 100 N.J. Min. Co. $60 81 b4 90 66 do 25 5 Hud. Riv. R. R 510 90 50 do 74 100 Erie R.R 64 200 Harlem R. R do 50 opg 75 s30 64 do 100 74 do 25 64 do 50 74 do 25 100 Morris C. Co. b60 14 $30.74 do 100 b30 75 do 100 100 Reading R. R. b30 54 53 do 100 74 do 200 do s3 74. 25 THURSDAY, Oct 2-P. M. The influence of the uncurrent money panic has passed away and stocks have resumed their previously improving tendency. The market has been scarcely so active as it was yesterday, but the transactions show generally higher prices. Erie Stock shows an advance of two Pencent., an advance, owing, however, as much to the favorable statement of the receipts of the road which we published yesterday, as to the subsidence of yesterday's panic. The Convertible Bonds improved Harlem advanced 11 Erie Bands, 1859, H Reading,1 Long Island, 1, and Canton The Money market shows a feeling of gradual ameliortion. No Gold is going this week to Europe, and the declining rates of Sterling Exchange indicate the probability that little or none will go next week. Sterling is offering at 91 @101 P cent. for the best bills, and the supply is likely to be increased largely from the South before the next steamer sails. In Freights there is less offering, and the rates are hardly so firm. To London, 5,000 bushels Wheat was taken at 5d. to Liverpool, Flour at 7@ 7dd. Wheat, and Cotton and Heavy Goods at former rates. The Brokers have generally returned to the discount of our State money for the present, all uncurrent money is bought @@ P cent. higher than usual quotations. John Thompson publishes the following list of Broken Banks I P. M. Oct. 2.-Broken Banks.-List of Banks Already Failed James Bank, Saratoga County Bank of New-Rochelle Farmers' Bank of Mina Western Bank, White Creek Peoples' Bank, Paterson, N.J. Commercial Bank, Perth Amboy The Bank of Salisbury, Md. The Bank of Cayuga Lake, and State Bank at Saugerties are regularly taken by the Brokers to-day. The New-York Agent of these Banks has published the following notice The Bank of Cayuga Lake and State Bank at Saugerties are wholly secured by United States and New-York Stock and redeemed by Washburn & Co. at Peent. discount in specie,at the bank at par.and received by the Brokers at the current rates. The Albany Evening Journal, of last night, states that There was a little flurry in the street this morning, caused by a rumor that the bills of three free banks were not redeemed at their agency in this city. The rumor was true but the absence of funds will only be temporary, and scaused by an unusual and unexpected rush of the bills of these particular banks. They will, weare informed, probably be redeemed as usual, to-morrow. Or if they should not they are just as good as gold, inasmuch as they re secured by anabundance of first rate stocks." In respect to the Commercial Bank at Amboy, The Newark Advertiser states "We understand that an injunction was granted, Saturday last, against the Commercial Bank of New-Jersey. The injunction was served and the assets taken by Receivers on Monday morning. No full investigation of the affairs of the Bank could yet had, but it is the opinion of the officers, and those best acquainted with the matter, that there are assets more than sufficient to redeem the circulation, in which case the holders would do well not to sacrifice their bills too suddenly. The following explanation of the unfortunate occurrence has just been communicated to us: "It is said that the stoppage of this Bank was a perfect surprise upon its officers and Directors. The Mechanics Bank in New-York were its agents for redeeming $10's and upward. On the afternoon of the 24th of September, the same day on which the People's Bank stopped, Thompson's Bank Note Re. porter appeared with a notice pasted on it, that the agents had ceased to redeem the bills of the Commercial Bank also, which was not the case, but it, of course, created anxiety to dispose of the bills. The Mechanics' Bank had that day what was supposed to quite sufficient for all redemptions that were to be anticipated, and had besides in their hands some $40,000 of excellent paper for collection, and as secu-

5. October 4, 1851 The Republic Washington, DC
Article from The Republic, October 4, 1851

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THE REPUBLIC. STOCK MARKETMONEY W ASHINGTON, October 3, 1851. In our last remarks relative to the money market we mentioned that there was a panic in New York in regard to the New Jeraey banks, since which we have had to report a similar feeling in regard to New York State money, and which has been disastrous to the following banks, and all reported failed: James Bank, New York. Bank of New Rochelle, New York. Farmera' Bank, Mina, New York. Western Bank, White Creek, New York. There are also rumors affecting the Union Bank at Dover, N. J. The Farmers' and Mechanics' Bank, New Brunswick, N. J., reported failed, is still going, and their notes are redeemed. Brokers have refused to buy the notes of the Merchants' Bank, Ellery, N. Y.; Ocean Bank, Bergen, N. J.; Phonix Bank, Bainbridge, N. Y. The above-named banks are mostly banks of circulation, and the heavy losers will be the note-holders; but in regard to the New York banks, their notes are secured by the public stock of the State, and should not be sold at a great sacrifice. The failure of 80 many banks (though not important banks) is very much to be regretted, as It will weaken confidence and may disarrange the whole currency of the country. Foreign exchange is dull, and the shipments of coin the past week have been small By Monday we will have an arrival from California, and a large amount of gold dust is expected.

6. October 6, 1851 The Southern Press Washington, DC
Article from The Southern Press, October 6, 1851

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MONEY MATTERS IN NEW YORK - The panic has partially subsided, and the brokers are purchasing the bills of all the interior banks, except the James Bank, Bank of New Rochelle, Western Bank at White Creek, and Farmers' Bank of Mina, which were the institutions put under ban yesterday. After the brokers had refused to redeem any country bille, yesterday afternoon, and the excitement was at its height, a gentleman deposited $100,000 with his agent to purchase the notes of all sound country banks at one per cent. This seriously interfered with the plans of throwing suspicion alike upon all these institutions, and the brokers immediately re-commenced receiving the same notes themselves, throwing out only the four banks noticed above. For the information of the public, we are authorized to state that the Metropolitan Bank has never demanded specie for the bills of any of the regular banks of the State which are redeemed by the banks at Albany, but have received checks on this city from their redeeming agents. For the bills of the brokers' banks, or banks of mere circulation, and which are redeemed by brokers in Albany, specie has been demanded if the 1 per cent. discount was taken, or checks on this city if taken at par. These banks have had the offer of redeeming their bills here at 1/2 per cent. discount, at which rate a large number of the best banks redeem here. These banks, therefore, have not been forced to redeem their bills in specie, and it cannot be for this cause they allow their bills to be protested. There is therefore no reason why confidence in the regular banks of the State should be shaken.- / Eve. Ed. Jour. Com., 3d inst.

7. October 6, 1851 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, October 6, 1851

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SECOND BOARD. 25 Harlem R.R 65 |250 Erie R. Ropg 76 200 do .b30 65 |100 N. J. Zine Co.... 8 100 do .b2 65 |100 do .b30 9 100 Edgeworth Co 8 |25 Nor. & Wor... $30 48 100 do .b60 8 |50 do .s60 48 150 do . 8 |50 do .b30 49 200 Erie R.R 75, |200 Reading R.R 534 150 do .s60 75 |100 do .630 54 50 do . 75 |200 do . 53 50 do .b20 76 |100 do .660 55 50 do .b30 76 SATURDAY, Oct. 4-P.M. There was a much better feeling in the Stock Market to day, and all the fancies improved. This feeling was especially observable at the Second Board, where the upward tendency was very strong. The transactions were large, especially in Harlem, of which 4,000 shares were sold. Erie and Norwich were the most buoyant stocks, the former closing at 76, an improvement of 2 cent, since Friday, and the latter at 481, an advance of 2 P cent. also. Har- lem advanced, Reading 1, Canton 1, Stonington 1. Long-Island, Morris, New-Jersey Mining 250. share, Convertibles and Incomes. Government Stocks were in better demand, and the Sixes of 1867 improved cent. State and Bank Stocks were also firmer, but not active. The improvement in the mar- ket to-day has perhaps been too rapid, but the move- ment indiented that the operators begin to see day- light. The Exchange Market continues dull, with a fair supply of Bills. Sterling is 91@101. Francs, 5.15@5.12. In Freights there is not much doing, and the rates are heavy. Engagements, 10,000 bush. Corn, 3d. Flour, 7d. Within a few days there have been engagements not before reported, to London, of 3,000 bbls. Turpentine and Resin at 2s. 5,000 bush. Wheat, 5d.; 2,000 bbls. Flour, part 1s. 9d., and 2,500 bxs. Cheese, 30s. To Liverpool, 10,000 bbls. Flour, 7d.@7ld; 300 Resin, Is. and some Lard, 12s. 6d. To Glasgow, 2,000 bbls. Flour, Is. 3d.@ls. 4d; 10,000 bush. Wheat, part 4id., and 1,000 bxs. Cheese, on private terms. A British ship from St. John to Liv- erpool, at 62s. 6d for Deals and 25s. for Timber an American from St. John to London, 78s. for Deals; a British brig from St. George, N. B., to Bristol, Eng., 75s.; a bark, 330 tuns, from Bonaire to Boston, wita sait, Ile.; a bark to load for St. Marks, 8 foot; two brigs from Jacksonville for Navy Bay, with Lum- ber, $14 P M. a schooner from North Carolina to Barbadoes, with Hhd. Staves, $16; and a schooner to load for Brazos, Texas, 90c. bbl. In Port, Friday- Steamers Ships Total Barks. 22 Brigs.. 177 Schooners 114 104 103 ...520 It will be seen that the amount of shipping in port is very heavy. The notes of the broken State Banks are bought by the Brokers at the following rates: James Bank....25 P cent. discount. Bank of New-Rochelle25 cent. discount. Farmers' Bank, Mina.10 cent. discount. Western Bank, White Creek...10 cent. discount. The receipts of the Harlem Road con- tinue to show a very favorable increase. The figures for September are as annexed: 1851..$59.005 09 1850.. 46,222 46 Increase 30 per cent$12,782 63 The Western Bank announced as sus- pended is not the Western Bank at Lockport, N. Y. The Receipts at the Sub-Treasury to- day were $66,712; Payments, $59,156, Balance in the Treasury, $3,722,092. This has been one of the heaviest days for payments into Banks of the year, probably the heaviest, and the merchants have met it, as far as we can hear, without any important failure. Pre- paration has been making for this day's payments for some time past, and considerable apprehension has been felt for the result, and we are happy to learn that it has passed over without any important disaster. If any defalcation occurred it was not maće public. One Bank had $400,000 to receive, all of which was punctually met. This promptness, under such a stringent money market, shows the general soundness of the mercantile community. The payments of the month of October will be very heavy up to the 25th, and we trust to be able to re- cord similar promptness throughout. The Money market continues very strin- gent, and large and irregular prices have been paid for Money to-day, temporarily, but the impression is almost universal that next week will afford some relief. The increase in the Coin in Bank has given the managers of these institutions more confidence, and the discounts to-day have been considerably larger than for some days past, which has somewhat relieved the street. The arrival of Six Hundred Thousand Dollars of Gold in the hands of passen- gers and on the freight list of the Prometheus, and the announcement of about Two Millions more at Panama, will tend to foster this improved feeling, especially if the shipments of the week should not exceed a million. At present the prospect is that they will be much less. The shipments last week were only $63,603, including the Washington, for Bremen, which took $13,600 of Silver and $2,000 of Gold. The discount on State Money is back nearly to the point it stood at before the panic. Brokers are buying at @Pcent., and it is begin- ning to flow in its usual channels again. The effect of the furry will, however, be felt for some time in the reduction of the volume of the currency, large amounts of which have been driven home, sent to the Controller's office, the stocks withdrawn and sold. The Winfield Scott, from New-Orleans, brings $27,249 in Specie, as follows: To Order..$12,000 G. S. Robbins & son. 10,000 Jacob Little & Co 2.178 Corang & Co... 2.336 Clark, Dodge & Co 735 We gave yesterday the imports at this port for September. We now annex a table showing

8. October 8, 1851 The Middlebury Register Middlebury, VT
Article from The Middlebury Register, October 8, 1851

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Yours Truly, O. NEW YORK, Oct. 2, 1851. The late circular of the Secretary of the Treasury to Collectors, relative to California shipments, is not relished any better this week than it was last. It acts as a great damper on the trade, and, in truth, is impracticable. Chesebro, Stearns & Co., the large but broken dry goods house, will pay 50 cents on the dollar; which is better than was expected. Yesterday, the innumerable newsboys strained their clamorous throats with vociferations of the news, "Four more Banks failed!" Some even cried that 6 had stopped. Altogether, eight are reported to have burst within a week. Of course, there was a panic yesterday afternoon, and it was amusing to see gentlemen stop in the street, and with anxious faces and tremulous fingers, turn over their wads of bank-notes. The first practical argumentum ad hominem I received yesterday was the return of a dollar note of the Farmer's Bank at Mina, which I had happened to pass the day prior to its alleged failure. Of course, I could not be expected to redeem it. On looking over what notes remained in my pocket, I found four dollars of the Western Bank, at White Creek, N. Y., which somewhat consoled the man for his own loss. Such hardships are somewhat similar to that of a man who finds his house burning just as his policy of insurance bas run out; and no "Fire Annihilator" at hand to extinguish it. By the way, these Fire Annihilators will walk into the Insurance Companies some; or rather, I should say, they will reduce the rate of premium very essentially. No Insurance Company, after this, need to suffer a large loss by a fire, either on land or at sea. That awful catastrophe, a ship on fire at sea, will not be likely to occur when these machines shall have come into general use. Think of that dreadful scene on board the "Ocean Monarch" two or three years ago. A "Fire Annibilator," costing about $40, would instantaneously extinguish a fire in the hold, raged it never so hard. I have seen these things tried, and know how efficient they are. In the course of next week a large frame house will be filled with combustibles and set on fire in order to show how quickly the Machine sold by the Company in Warren St., (of which P. T. Barnum is the Agent) will extinguish it. "Kossuth is on his way!" is a frequent exclamation now-a-days, but if the authorities are making the extensive arrangements for his reception which we have been led to expect at their hands, they keep very quiet about it. I trust the welcome will be such as shall re-inspire the discouraged spirit of liberty in Europe. The return of the "Advance" of the expedition fitted out by the American merchant, Mr. Grinnell, for the discovery of Sir John Franklin in the frozen seas of the far North, has occasioned a vast deal of interest and satisfaction in this city, but really we do not think it reasonable in Mrs. Franklin to expect the Americans ("in case the Admiralty fail her") to fit out another expedition of their own, subjecting a land of brave and noble men (like the crews of the "Advance" and "Rescue") to endure such tremendous hardships and perils as experience proves they would have to encounter. There are some here who think Sir John Franklin and his party may still be safe, but they have what the Phrenologists call "Hope Large." Large quantities of goods and parcels freighting Adam's & Co.'s Express to the far South indicate that the absentees from Louisiana, Alabama, Mississippi, &c., &c., are returning to their homes. The increasing business of Virginia and the Carolinas, also, has called into requisition a new inland route to Charleston, much superior to the old one, in every respect. It is called, I believe, the Seaboard and Roanoke line. It is via Chesapeake Bay to Portsmouth, Va., thence the new Railroad to Weldon, 78 miles, when it joins the Wilmington R. R. to Wilmington, and so on to Charleston, S. C. It is for the transportation of freight as well as passengers, and a Southern friend, in commending it to me, thinks it merits a loud note upon the key-bugle. Kate Hayes is a handsome woman, and a great favorite, but it would be rank presumption in her to attempt to compete with Jenny Lind. The latter has set her (and every popular performer) an example of benevolence, which she is following indifferently well. She now promises a benefit for Father Mathew, The Apostle of Temperance has been lecturing in the Broadway Tabernacle, and will repeat it again this week. In addition to the increased attraction which Father Mathew has given to St. Peter's Church this week, there have been nightly addresses by some Roman Catholic Missionaries from foreign parts. He has been tendered, and has accepted, a passage free for himself and secretaries in the Collins steamers of the 25th inst. There are two steamers up for New Orleans; the "Winfield Scott," on the 10th, and the "Empire City" on the 11th inst. The first train of cars passed over the entire length of the Hudson Railroad yesterday. Next week there is to be a formal opening, and a dinner for 8,000 persons at Greenbush. Many drafts sold by bankers in California, and payable in this city, have been protested recently. The Yacht Club gave a dinner to "Commodore" John C. Stevens at the Astor House yesterday, in honor of the triumph of his yacht over the English. MARYLAND ELECTION. From the re-

9. October 8, 1851 The Southern Press Washington, DC
Article from The Southern Press, October 8, 1851

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MONEY MATTERS IN NEW YORK - The panic has partially subsided, and the brokers are purchasing the bills of all the interior bank except the James Bank, Bank of New Rochelle, Western Bank at White Creek, and Farmers' Bank of Mina, which were the institutions put under ban yesterday. After the brokers had refused to redeem any country bills, yesterday afternoon, and the excitement was at its height, a gentleman deposited $100,000 with his agent to purchase the notes of all sound country banks at one per cent. This seriously interfered with the plans of throwing suspicion alike upon all these institutions, and the brokers immediately re-commenced receiving the same notes themselves, throwing out only the four banks noticed above. For the information of the public, we are authorized to state that the Metropolitan Bank has never demanded specie for the bills of any of the regular banks of the State which are redeemed by the banks at Albany, but have received checks on this city from their redeeming agents. For the bills of the brokers' banks, or banks of mere circulation, and which are redeemed by brokers in Albany, specie has been demanded if the t per cent. discount was taken, or checks on this city if taken at par. These banks have had the offer of redeeming their bills here at 1/4 per cent. discount, at which rate a large number of the best banks redeem here. These banks, therefore, have not been forced to redeem their bills in specie, and it cannot be for this cause they allow their bills to be protested. There is therefore no reason why confidence in the regular banks of the State should be shaken.- - Eve. Ed Jour. Com., 3d inst.

10. October 23, 1851 Jeffersonian Republican Stroudsburg, East Stroudsburg, Milford, PA
Article from Jeffersonian Republican, October 23, 1851

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-goin Resumption. We have been informed that the Western Bank of White Creek, Washington CO. NewYork, one of the Banks which suspended during the recent panic, is redeeming its liabilities, and that the bill holders will be able to have their bills taken up at the usual rates for sound State Banks. This leaves only three others in New-York to make good their liabilities, viz:-the James Bank, Farmers' Bank of Mina, and Bank of New Rochelle.