Bank of Philadelphia - Philadelphia, PA

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: September 1, 1851
Location: Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model: gpt-5-mini
Short Digest: 39f7c040

Response Measures

Accommodated withdrawals

Description

Article (PHILADELPHIA, Sept. 1) reports a run on the Bank of Philadelphia but explicitly says it will amount to nothing and cites large securities and surplus — no suspension or closure mentioned. Date taken from article dateline (1851-09-01). Cause not specified in the text, so classified as 'other'.

Events (1)

1. September 1, 1851 Run

Cause Details: Article does not identify a trigger; mentions withdrawals by the late cashier ($189,000) but gives no explicit cause for public alarm.
Measures: Bank officers cited holdings of securities and an accumulated surplus of over $300,000 to reassure depositors; no formal suspension measures mentioned.
Newspaper Excerpt: There has been quite a run to day upon the Bank of Philadelphia, but it will amount to nothing.
Source: newspapers

Newspaper Articles (1)

1. September 4, 1851 Indiana State Sentinel Indianapolis, IN

Article from Indiana State Sentinel, September 4, 1851

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Article Text

Freights to Liverpool lower; flour 11 pence. NEW YORK, Sept 1, 8 P. M. Advices from Port au Prince to the 16th of August. The Emperorable returned from Cape Haytien. It is reported that the difficulties between the Dominican and Havtien governments had been amicably adjusted. In the case of holding fagitive slaves, Judge Nelson deliv. ered his opinion to-day, which resulted in delivering him over to the South Carolina claimants. From Philadelphia. PHILADELPHIA, Sept. 1, 8 P. M. A committee of the Boston council waited upon the President on Saturday evening, inviting him to participate at Boston. He replied that it would afford him great pleasure to be present, bnt deferred a positive answer until he could ascertain if the state of the public business would allow of his absence from Washington at the time of the celebration. Heads of departments were also invited. There has been quite a run to day upon the Bank of Philadelphia, but it will amount to nothing. The amount withdrawn by the late cashier is $189,000, against which the bank officers say they hold securities for a much larger amount; besides which they'have'now an accumulated surplus fund of over $300,000. The deposit of gold in this city during the month of August, was $4,144,800, and the coinage $4,078,329.