18943. Bank of Penn Township (Philadelphia, PA)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
state
Start Date
March 16, 1842
Location
Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model
gpt-5-mini
Short Digest
80a41e01

Response Measures

Full suspension

Other: Partial resumption: redemption of demand notes in specie but not deposits or relief issues.

Description

March 1842: run and immediate closing of doors after large withdrawals; several sources report the bank closed/failed in mid-March. By September 1842 the bank commenced the redemption of its demand notes in specie and specie funds, indicating it resumed at least partial payments on notes. I classify this as run → suspension → reopening (bank did not permanently fail).

Events (3)
1. March 16, 1842 Run
Cause
Bank Specific Adverse Info
Cause Details
Bank had fallen into discredit and depositors/note holders rushed to exchange its paper for other funds; sustained heavy withdrawals.
Measures
Directors closed the doors; bank ceased paying out and remained closed after run.
Newspaper Excerpt
The Penn Township Bank, having fallen into discredit, a run upon it ... BANK OF PENN TOWNSHIP, MARCH 16,1842 ... the Directors ... deem it advisable to close the doora
Source
newspapers
2. March 17, 1842 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Unable to meet demands after run; directors did not open following day and bank remained closed (suspension of payments).
Newspaper Excerpt
The run on Wednesday against the Penn Township Bank ... it remained closed.
Source
newspapers
3. September 8, 1842 Reopening
Newspaper Excerpt
The Bank of Penn Township, one of the suspended banks of Philadelphia, commenced the redemption of its demand notes in specie and specie funds, on Wednesday.
Source
newspapers

Newspaper Articles (7)
1. March 19, 1842 The New York Herald New York, NY
Article from The New York Herald, March 19, 1842

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Article Text

CORRENT RATES or BANK NOTES AND DOMESTIC BILLS Bank Notes. Exchange. a it Safety Fund a Security Banks. New Eugland Beston U.S. Bank 63 a 20 Pennsylvania Philadelphia a 5 New Jersey 3 a 7 Maryland Baltimore a 9 Varginia Richmond 8 a 8) a North Carolina North Carolina 4t a 5 a 20 Georgia Savannah 2 a 2) Augusta, 21 a 3 South Carolina 93 a 9 Charleston 1 a 18 Florida a 75 Apalachicola 45 a-r Alabama a 17 Mobile 19 a 20 Lousiana 10 a 15 New Orleans a e a 12 Kentucky Lewsville a 8 Transacce a 17 Nashville 17 a 18 60 Mississippi Natchez a Missouri a 9 St. Louis 18 a 20 Ohio a 12 Cincinnati a 12 Indiana a 1 12 a Iliionis se a 31 a 35 Michigan a Detroit a After all the ridiculous tricks that the Baltimore city councils have performed in relation to the Rail Road orders, that precious description of paper money has fallen to 50 cents on the dollar, and as they are receive able for taxes, the revenues of the city will entirely be out off. In the Virginia Legislature, the resumption bill being under discussion, the blauk relative to the time of re sumption was filled with the First of November"-61 to 59 A motion for immediate resumption, was then lost -36 to 83. A meeting of the Philadelphia Binks was held last night, when the following proceedings took place :An adjourned meeting of the delegates from the Banks of the City and County of Philadelpnia, was held at the Philadelphia Bank yesterday evening, Mr. Dundas in the Chair. The following Banks Were represented :The Philadelphia, Northern Liberties, North America, Western, Commercial, Manufacturers' Mechan. Farmers' and Mechanics', ics', Southwark, Kensington, loyamensing, Germantown. The following resolution was offered: Resolved, That on and after to morrow, the 19:h inst,. the Banks of the Cay and County of Philadelphia, assenting to this resolution, will receive on deposit and in Banks: payment of debts, specie or the notes of specie paying Also, that they will pay out at their counter, specie or their own notes exclusively, to all persons entitled to demaad the same. The above was adopted-the following Banks voting in the affirmative:Philadelphia, Northern Liberties, Commercial, Western, North America, Kensington, Farmers' and Mechanics' Gatmantown. Southwark. The other Banks present, having accepted the Relief Law, declined voting, sta ing that they are making arrangements for sperdy resumption. Resolved, That the foregoing proceedings. attested by the Chairman and Secretary of the meeting, be pubfished in all the city papers. Alexander Cummings, JAMES Secretary. DUNDAS, Chairman. The progress of events in Philadelphia is causing the rapid annihilation of the rotten banks. This of course has been looked on as a certain occurrence. It is the inevitable result of the policy that they have pursued under the impulse given and example set by the late National Bank. Yesterday the Penn Township Bank, having fallen into discredit, a run upon it to exchange * paper for whatever else could be got, resulted in the following annouacem at, after large amounts of depreclated paper had been paid out in exchange for its own notes. BANK OF PENN TOWNSHIP, MARCH 16,1942 00- The Directors of this institution give notice, that under present circumstances, they deem it advisable to close the doora By order of he Board JAMES RUSSELL, Cashier. The run was then kept up upon the Mechanics' which Noo stopped, and the Moyamenring and the Manufacturers' and Mechanics' Bank. Theystruggled through the day by paying out depreciated paper; but their fate is

2. March 24, 1842 Lynchburg Virginian Lynchburg, VA
Article from Lynchburg Virginian, March 24, 1842

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The Senate to-day plassed me - first, however, amended it in several particulars, some of them important. Among its amendments was a substitute for the 4th section, which, retaining the lst day of November as the period of resumption, strikes out that feature which requires the Banks to resume within sixty days after the principal Banks of Philadelphia and Baltimore shall recommence specie payments. I regard this as a very salutary change, in view of the peculiar circumstances by which the Banks of those States have been induced to open their vaults. In both, the apprehe usion of P pular tunulis, growing out of the peculiar character of a portion of their population, al ways inflammable, and easily excited to deeds of V10 lence, was the primary and influential cause of resumption at so early a day. I infer this from the fact, that, prior to the exhibition of any sympton of mobocratic up ro. r. the Philadelphia Banks had clearly indicated that a should be upon, nd of der c. reumstances sooner 14 of August. more than re. no note the day Maryland would generally fixed The it Legislature be had safe while declared to resume those of the that of Balti- latter unState. too, it is not improbable, was itself precipitated into the adoption of the law which ultimately passed, by the cm, hatic processadopted by the mob of Baltimore to make "nown its wishes- 200 of their number. under the imposi. T name of committee of the people, having visited lis Learing the high behests of their and ached the Legislative hall in martial procession, with ers front to to their injune a constituency, give emphasis appl ions. and music Such in their proceeding indicated a distempered condition " mind, which it was not safe to disreg be probably of rd, the od but public itself by which to no legislative body ought to have permit. overawes. It finds a parallel and precedent only in the history of the "rench Revolution, when bodies if sans culottes and cut-thic is invaded the halls of the Natu al Assembly, to dietate law. to the mock Republic, and to drag from the tribune to the gu. Hotine such of its members as had nerve enough to defy the 16. ~rorists. A resump tion brought about by such means may be permanent, but it is hardly probable that it will be: but Is these who entertain this impression should be deceived, and these institutions shall show their ability to maintain spec. payments, I have no doubt the Banks of Virginia will voluntarity place themselves in the same attitude, before the 1st of November. The Senate also struck out that section of the bill, as it went from the House, authorizing the appointment of a Commissioner, to examine in to the condition of the Banks of this State; and (I be lieve) that also prohibiting the sale of drafts and bills of exchange. I cannot predict with certainty the fate of these amendments in the House, though, from the pro racted period of the session, and the universal anxiety to bring it to close, I think it probable they will be as sented to. Another cause may operate to the same endand that is, the certainty that some of the members, who have been in favor of the most vigorous measures against he Banks, have run rather ahead of their constituents, w tho, more conside rate if not more wise than their delegates, perceive that every blow aimed at those institu tions, the interests of which are inseparably intertwined with those of the people at large, must fall with accu mulated force upon their own heads. See, for example, the proceedings of the people of Buckingham, at which , leading Democrat was Chairman, another one of the Secretaries, and a third (George Booker, Esq.) whose rabid antipathy to Banks has been for years proverbial in all Buckingham and the region round about, was the chief orator-in which it is recommended that an assu rance shall be given by the Legislature to the Banks that they shall not be required to resume before the 1st of February, 1844! And yet one of the delegates from that county voted for immediate resumption, and the other for the earliest named day. Others, I have no doubt, have equally misunderstood the clamors of a few demagogues and shavers for the voice of the people, who, whatever be their conviction that the Bank ing has been grossly abused and system may favor and of perverted. overthrowing requires to be reformed, are not in t suddenly, and by the same process of involving every class and every profession in society in indiscriminate ruin. If the Banks were hostile, or even a separate and distinct interest, which might be but others in their be involving downfall, they reached retribution might with visited with the rnest detheir the manded perhaps properly by alleged delinquencis-but crushing when the edifice cannot be destroyed without the builders, they will wisely pause before they begin to sap its foundations. there can be no doubt that the Baltimore Banks will in compliance law, While attempt resumption, with hope they the and perhaps maintain it,--as I sincerely may e able to do,-I have no faith in the capacity of those if Philadelphia to do likewise. The hesitancy which as marked their coursethusfar, shows, that if they even make the attempt, it will be with fear and trembling as o the result. And well may they be thus apprehensive, when, in anticipation, runs have been commenced upon some of them, indicating a feverish agitation of the public mind, especially unfavorable to the success of their efforts. The Bank of Penntownship closed its loors the 15th, and on the 17th. the Manufacturers' and Mechanics' Bank, after having sustained a run unil 12o'clock, followed suit. The Mechanics' Bank, hol- and he were also besieged by Moyamensing but demands. their notelers, were strong enough to meet all The with one or wo exceptions, have resolved to with the law-with reforthwith other Banks, comply what effect nains yet to be developed. The Tax Bill was to-day ordered to be engrossed by he House of Delegates, and will be passed and sent to he Senate on Monday morning. The rates re same as those of last year, except the that of of the taxation vender license of broker is raised from 2 to $300, and that a of tiekets from 500 to viz: several new subjects of domesticlottery a however, $1000. taxation. There old re, one dollar. and silver and of watches 25 piano fortes, of $100 value in watches, cents; other $1, metallic used and 200 value and upwards, $2, except such as are a seminaries. or by music teachers. Silver plate, over Bank ain value, 19 like KC subject to taxation

3. March 29, 1842 Democratic Standard Georgetown, OH
Article from Democratic Standard, March 29, 1842

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# MONEY AFFAIRS IN PHILADELPHIA.- More bank failures.-Resumbtion.-Re- sumbtion has fairly commeced in Philadelphia. At a meeting of the Officers of the different Binks on Thursday evening a resolution was paased to commence in full yesterday some of them paid out specie on Thursday. The failure of the Bank of Penn Township caused a run on Thursday on several others, which ended in the stoppage of the Mechanics Bank, the Manufactures and Mechanics' Bank, and a considerable pressure on the Moyamensing Bouk. We copy the following account of the state of affairs from the money article of the Ledger: Yesterday was a day of great bustie and excitement with the people and two or three of our banks. The run on Wednesday against the Penn Township Bank, though it closed at the usual hour that day, with the ssurence of its officers that it would open and meet ail its demands the follo ving moroins trenched so deeply on its means that it filed to fulfil this promise, and, instead of meeting its demands, it remained closed. The announcement of the failure of the above Bank soon spread throughout the city, and the consequence was a general distrust of the Mechanics Bank, the Manufacturers and Mechanics Bank and Moyamensing. A run commenced on all these soon aftor opening, by their note holders and deposi ors. The Mechanic's yielded to this run a few minutes before one o'clock, and clossed its doors. Though two or three hundred persons were present at the time of this occurrence, those who were inside as well as those who were in front of the builaing. quietly dispersed. The run here was so short that unless the demands were for deposits, the iustitution must have stopped full handed or else was very poorly supplied with means. At the Manufactures and Mechanics' Bink the demand was almost entirely from note holders, and it was kepet up unceasing pressure at all sides of the counter, from the opening of the bank until some time after usual hour of closing. In the evening the D rectors met and come to the conclusion not to open the bank, for "the present." At the Moyamensing Bank the run was later commencing, it creaditors being tolerably quiet uutud about the time of the stoppage of the Mechanics. From that time until about 1 o'clock there wisa heavy press about its doors, and though the demands were numerous, the amounts appeared to be generally light, and almost entirely from note holders. Scarefly a depositor drew out any money - Here, at the manufactures and Mechanic's Book payments were made in funds that the brokers have been dealing in for some weeks, at a discount of from 10 to twenty per cent. This kind of currency tended considerably to check the demand as a numner refused it altogether. It wis a profitable operation for the bank, and its officers seemed disposed to make the m stof i instead of discouraging the run, they rather courted it, and closed the doors only when there was no further demand. Although there were collections around all these institutions, and many held notes on which they expected to be losers, there was no where visible ill feeling or noisy dissatisfaction. All seemed to look up you these failures as in some measure necessary to reach a purer and more wholesome state of things. Around the brokers offices there were clusters of people, but these gentlemen pretty generaliy refused to do much basiness. They, too, evine red much distrust and several of them having been losers recently to considerable amounts, chose to forego seeming profis to incurring the risk of further loss. The resuming banks are the Philadelphia, Commercial, North America, Farmers and Mechanics, Southwark, Northern liberties, Western, Kensington, German-town.

4. August 24, 1842 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, August 24, 1842

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MONEY MARKET. Sales at the Stock Exchange, Aug. 23. 25 Del & Had 86¥ 100 Long Island R Cob8d 51 25 do 36 250 do $60d 503 50 do cash 861 50 do bSd 51 25 Farmers' Loan s10d 162 100 do 60d 51 16 do 100 cash 17 do bood 51 I 10 Harlem 14A 50 de b10d 50% 50 do $3d 143 50 de $25d.50 350 do t cash 143 50 Manhattan Gas cash 604 100 do 83d 14 5 Canton Co f 19 SECOND BOARD. 10 Del & Hud 861 200 do s3d 14 25 Harlem 14 Commercial and Money Matters. TUESDAY P.M. The sales to-day, which were not extensive, were almost exclusively of Marlem and Long Island, the latter all on time. Harlem is rather creeping up. It improved 1 per cent to-day. Long Island was without change. Delaware and Mudson declined 1/2 per cent. Farmers' Loan improved 1. For Mohawk 37 offered,371asked. Ohio Trust 56 off. 62 asked. The sales of State stocks were confined to fancies at firm rates. For New-York Sevens, 1849, 100 offered, 101 asked Sixes, 1862, 391, 29}; 515, 1861, 85 asked; s, 1845, 911, 921846, 99 offered-1847, 89 offered-1851, 81 offered-1358, 21 offered, as asked-1861, 30 asked: Ohio Sixes, 1850, 71, 721860, 74; Kentucky Sixes, 76, 77-5s, 60; City Sevens,183 1004, 101-5s. 1870, 81, asked. The transactions were as follows: $1,000 Illinois Bonds cash 18 $2,000 Ind 5s, 23 do 10,000 173 560 21 $1,000 do do $5,000 b60. 18 In Foreign exchanges there is nothing worthy of notice doing. Sterling 61 7-Francs 5.35. No change in Inland bills. Very little Mobile offering. There is some little inquiry for Spanish Doilars for the East Indles, and they are rather scarce. he Calhoun from Charleston brings about $30,000. We quote 16.00 a 16 25 American Gold, old 6 prem Doubloons Spanish Dollars 3ja 4 Do Patriot.15 a 15 70 Carolus do Sa 6 par 4 84 a 4 86 Sovereigns Mexican do 4 83 485 Light do 5a505 Five Franc pieces .93 a 34 cts Heavy Guineas A heavy sovereign weighs 5 dwt 24 gr. Bicknell's (Philad.) Reporter SAYS: No improvement in the finances of this State. State Fives have been selling for 35 and 36-quite as much as they are worth, when we remember that not a dollar of the August interest has yet been paid. A hope still exists in the minds of many capitalists, that something will eventually be done. Serious apprehensions are expressed in some quarters as to the prospect for the winter. Affairs are bad enough in all conscience; but it is not worth while making them worse they are. Our crops were never more abundant, the debts of private individuals were never smaller in the aggregate, the banks discount good business paper readly, and have immeuse sums on deposite. These are favorable signs, and could we only 2el any thing like proper legislation at Washington, the prospect would speedily brighten. Nothing new as relates to the banks of Philadelphia. The suspended institutions are the U. States Bank the Schuylkili the Girard, the Bank of Pennsylvania, the Mechanics' and Manufacturers,' the Moyamensing and the Bank of Penn Township. The rates at the close of the week were as follows: Money- fair paper out of doors, 7 to 7 per cent. USB notes 56 a 57, Girard notes 46 a 47, Pennsylvania as, Rc. lief notes 9 a 17A, Penn Township notes 12 a 14, Manuf. and Mech. notes 14 a 17, Moyamensing notes 12. Specie-par Treasury notes. 6 per cent interest, of late issue, discount The Inquirer says that no issues have yet been made the certificates of six per cent stock to the holders of State debt for the amount of interest due and unpaid. The checks of the Bank of Illinois drawn upon the Farm ers' and Mechanies Bank, Philadelphia, are protested for non-paysient, anjattachment having been laid upon all its assets in the Bank. The St. Louis New Era complains of the hard times. It says: Each successive week has a direct tendency to tight the money market, and it is now almost impossibie to effect transactions of any magnitude. We have no longer any rcpresentative of trade: specie is not to be had-notes of the Bank of Missouri are charity issued, or it put out are withheld from general circulation-and in all out door transac. tions City and County money alone is used, and unfortunately enough of this is not to be found. At Augusta, Ga. checks on New-York continue plentiful at 1 per cent premium. Central money remains stationery at 28 per cent discount. The quantity offering is quite limited. State Six per cent Bonds remain without change. Markets. ASHES-00 Pots the sales have been 150 barrels at 5 62} There is a good demand. Pearls are held firmly, which prevents transactions. A few sales are made at 5 94. COTTON-The sales are about 400 bales at previous prices. FLOUR-The market is quite heavy to-day, and the rates 12} lower than yesterday. About 2500 barreis Genesee sold 512}, and 3 to 400 new Ohio at 5 00. Some of the Genesee was of it superior brand. About 200 barrels Troy from new Wheat sold at 03. A parcel of new Michigan brought 5061. There is more inquiry for Southern-S to 400 barrels Georgetown sold 5 S7t. It is offered at 5 25, to arrive.About 2500 barrels Richmond City Flour "Haxall" and 'Gallego," recently arrived. was sold previously to arrival, at $6 50 for shipment. Further sales Jersey Meal were made at 3 00. GRAIN-Sales 2300 bushels Illinois Wheat at 103c a 105c, part for milling and part for British Provinces. 500 bushels prime new Ohio 106c; 1500 do Virgina at something under 90c. For a parcel of prime seed Genesee 125c was offered and refused. Corn is heavy. Sales 1000 bushels of Jersey Yellow at 60; 2000 Ohio Canal at 55c weight; 500 do North River at 58c. Rye is held at 60c, dull. Oats-sales 30 a Slc Canal, 29 a 30 River.

5. September 10, 1842 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, September 10, 1842

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MONEY MARKET Sales nt the Site ck Exchange, Sept. 9. Harlem 10 Ohic Trust Co de Del Had bend R Mohawk Long Island Jersey R do. 85! bild Bost. Prov R 100 do 15 do 16 Lise 25 arlem 16 did 38 50 Mohawk R 34 16 do 25 Commercial and Money 11 afters. FRIDAY M. A the Brokers Board to -day there was but little done excepting in arlem, in which there appears to be newal of the speculative feeling which caused such large operations short time since. Nearly 1,200 shares to-day, closing at 16. an advance of per cent. Stocks gen erally not firm, and the impetv they lately received been lost. Delaw feil off t A sale of New Jersey 64, seller, 12 mos. the the prices In Stocks State there much firmness. Water 1870. inCity past. Ohio Sixes: percent. The Fancies transactions The $2.000 Ohio 6s. 1360. $3,000 Illinois Gs, 1870. Water $1,000 7) Nothing doing Fereige Exchanges Sterling Francs 5.85 5.32}. an bills. There Southern orin There is in the street for Virginia at 11 discount Ala Dama better demand. Montgomery 129 sold at 25 discount, and Mobile and other branches at 27 271. North Carolina better wanted There more inquiry for Treasury Notes at per cent. The American says that the aggregate amount . specie in the City Banks is of six millions of dollars, and amount daily incr asing. The business on the Western Ra Groad appears to be increasing fast. The receipts for the last week are $3,000 usual Net receipts for six days ending SaturSeptember Passengers $8,092; Freight. Mai and Harden Co., $5,740: total, $13,832. ring is At Buffalo, the quantity of uncurrent funds off small, and the rates the same as previously quoted. Eastern exchange is abunda and in some instances furnished at fraction less than our quoted rates. Indiana paper is still sought for, and for the past few days less of it has been of fered. Exchange on New. York per cent. Ohio and Canada paper continues to form large portion of the circula. tion and remains stable. at at Montreal easier somewh The Money Market Exchange New. York of 2 for individua bills asy for bank bills. Sterling Exchange If for 60 days bills, and it days' bills. The Receiver General had advertised Provincial for Govern extent tendersto in the feature favorable considered was which Bills, ment money market, and would induce the Banks expand: Another of the suspended Banks of Philadelphia, the Bank of Penn Township, has resumed the payment of her notes in coin. but not her deposites or elief' sues. the latter of which amounts to upwards of $100,000 and from rate of discount to which they are now sub. presumed it not the intention of the Bank to take the responsibility least, not present. The dein common expected, will be soon deemed with its bills pay able on demand At Lauisville there was fair amount of business, being principally for cash. The money market was reasonably easy, the banks dis ounting all good paper at short dates freely. Eastern Exchange is at premium not abundant but equal the demand. Kentucky thirty year Bonds 75; $5 Scrip 70. The following is an abstract of the condition of the New Orleans Banks on the 27th ult. Liabilitie pecie. Assets Banks, 13 1,492.7 $514,362 Bank Louisiana 63,017 133,267 Canal and Banking 78 10.137 14.586 Carrolton B'K'g Co. 34,576 1,241,800 230,886 Citizens' Bank 183,509 425,257 City Bank 76,687 287,697 Commercial Bank 199,787 516,097 289,968 Consolidated Association 212,965 Louisiana State Bank 695,706 747,447 121,946 259,816 230,348 Mechanics' Traders 929.216 159,331 758,586 Union Bank Total $3,613,585 61 5,525,541 52 1,218,455 BRIGHTON MARKET-Monday Sent. 5.1842. From the Boston Advertiser and Patriot. At market, 475 Beef Catile, 1,000 Stores, 4,300 Sheep, and :50 Swine. PRICES. Beef Cattle- The prices obtained last week for a like quality were hardly sustained much less number were sold at the highest prices. very few extra first quality $4.50 84 75; second quality 84 $4.25 third quality $8 $ $3.50. Stores-Two year old at $7 S12: three year old, 814 to $20. Sheep- Dull. We notice lots sold: the following prices, viz: 50c, 60c, 75c, 82c $1. 81 12, $1 and $1.33. Aloto old Hogs Lots peddle at 2k 27 for Sows, and 3)c 31c for Barrows. At retail from Sc to 5c. Markets. ASHES.-There is an order in market for Pots, and about 200 bbls. have been taken to-day at $5 371, which inclades all to be had that rate. One or two very small parcels, of bad tares, sold at 85 25. In Pearls there is net so much doing We notice sales of 60 bbls. at $5 75. The bills in the market to day were not very large, and the reabout 150 200 bbls of both descriptions. COTTON.- The demand been very active to-day, the sales reaching only about 500 bales, spinner and ex porters. The stock estimated at about 1,000 to 12,000 bales. Holders very firm current prices, and some are looking for still further dvance after the receipt of the advices by the next steamer. Of new Cotton only few bales have yet been received at this port. We quote Mo fair 91 New Orleans 61 91: fair 9a Upland fair 81 Florida 61 n 84 FLOUR.- l'be demand which has existed for some days past has almost entirely subsided Very few Eastern yes sels are here, and consequently the sales to-day have been quite limited. The tow th morning was moderately large, and the quantity afloat is considerable; and although we can report no actual decline in prices, et the want of de mand and the quantity in the market tends to produce that state of the market when holders appear to only aiting for offers to accept lov or rates. W quote the asking price Genesee 4 69. A parcel about 50# bbls. Michigani and Ohio sold $4.624 Troy we quote at 84 625 $4 66,with sales of about 200 able. mostly at the lower price. There is some demand for British Provinces, principally for round Ohio, but at limits below present prices. The quantity 0 Michigan here light. There very little doing inSouth ern descriptions. A lot of Richmond Country, about 400 bbls which had been wel by rain. sold on the wharf lots at$4.50. Rickmond Country we quote at 84 621 a $4 75: new Georgetown $5; old $5.373; randy wine 85. Very little of the latter here. Of other descriptions of Southern there none in market. Meal is in fair demand but sup plies are light. We quote $3 for Jersey, $3 121 for Brandy a wine. Rye Flour very dull, and North River is plenty $5 12 85 25 GRAIN-T he remainder of the carge of Virginia Wheat, of which 1,500 hnshels reported vester day. to-day The whole cargo. 3,900 bushels. brought 80c for millingWe notice sales also of 350 bushels Delaware on private terms. 31,000 bushels of Wheat and 13,000 bbls. F our were month received at Buffalo euring the first six days of this market now nearly cleaned of Wheat The supplies lots of Corn to-day were very light, comprising only a few and in boats the North River. and little Jersey Yellow North demand. little White. There Riveris worth 60 61c. measure: Jersey 58% 50: Southern 56, weight. We heard of no sales of Rye, and tarley new of lot The offering. parcel of our ticed yesterday, 580 bushels. fair article sold one seasonthis received lot the This first 53c. There change in Oals. The supply is ample for the at demand which moderate Canal, old, are retailing Cana150, 31 a32: cargo price a30}, River 29 SO new and few in market. A few Southern are selling out of state at PROVISIONS -There is very little doing to-day in Beef inortileor Pork and we have no change notice. The Olile of de mand for Lard has nearly subsided. A small sale freely, kegs made at7ic. Butter arriving rather and the demand not very active to-day We quoteship Oliio ing qualities a Sc: Goshen 15 17c. Some sales that Cheese, via Canal, were made 5tc. It is expected H considerable quantities of Cheese will be received this son from Ohio. TarNAVAL STORES There is an active demand for North for 50 $2 and all good arriving is taken at Wilmington

6. September 10, 1842 The New York Herald New York, NY
Article from The New York Herald, September 10, 1842

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the 27th unc. as compared with the return of July 30. BANKS OF NEW ORLEANS. July 30. August 27. Banks. Assets. Liab Liab. Assets. Bank of Louisiana, 401.997 362,892 514,862 459,453 Canal & Banking Co., 78,299 308,913 133,267 350,527 15,967 Carr'l R R & Bk'g Co., 101,355 14,586 94,044 Citizens' Bank, 301,870 1,163,492 230,886 1,241,800 City Bank, 422,895 664,434 423,257 550,042 Commercial Bank, 245,756 427,507 287,697 406,562 Consolidated Associa'n, 298,027 591,603 289,968 516,097 Louisiana State Bank, 698,050 777,499 695,706 747,447 273,117 Mech's' & Traders' Bk, 249,105 259,816 230,348 Union Bank, 947,541 994,512 753,536 929,216 3,683,523 5,641,317 3,613,585 5,525,541 This gives a great increase in the business of the Bank of Louisiana, the only specie paying bank, the specie of which on hand had increased 331 per cent, nothwithstand ing its increased liabilities, showing incontestibly that honesty is no detriment to its real interest. The Bank of Penn Township, one of the suspended banks of Philadelphia, commenced the redemption of its demand notes in specie and specie funds, on Wednesday. The movements in Southern exchange are very limited, and prices do not materially vary. There is very little of the demand, usual at this season, from people going south, and for the purchase of produce. The banks themselves, which utter the depreciated paper, and have in former years speculated in their own paper at the expense of the poor dupes that take it, have this year not the means to pursue that course to the same extent. On specie paying points the rates are at their minimum; on others there will probably be a greater depreciation when the crops come forward. The rates to-day are as follows:CURRENT RATES OF BANK NOTES AND DOMESTIC BILLS. Bank Notes. Exchange. Safety

7. September 12, 1842 Daily Richmond Whig Richmond, VA
Article from Daily Richmond Whig, September 12, 1842

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SESSION BY LAST EVENING'S MAIL. NEW YORK MARKETS, Sept. 9. AtHES About 200 barrels of pots have been taken at 85,371, and 40 of pearls at 85,75. COTTON. The sales yesterday amounted to 800 bales without change in prices. FLOUR The market is dull, but prices remain last noticed. Small sales of Genessee at $4 69 a #475. EXCHANGE.-Foreign.-Bills on London, 71 a 71 per cent premium. On France, 5f. 391 a 5f. 30. The Bank of Penn Township, (one of the sus. pended Banks of Philadelphia,) commenced the edemption of its demand notes in specie and specie funds, on Wednesday.-N. Y. COM. MONEY MARKET-CITY NEWS. Friday, P.M. The Journal of Commerce states that Richard F. Harrison, the c'erk of Nevins, Townsend & Co, Bankers and Brokers in Wall street, is a defalter to the amount of ten thousand dollars, which has been lost in stocks. As additional proof of the good effects of a Tariff upon the business of the country, the Troy Whig informs us that the Iron and Nail Works in this city, after a suspension of several months, are again in operation. Mr Marshall informs us that his manufactories at W hitestown will also be started immediately. - Express.