19006. City Bank (Philadelphia, PA)

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: September 25, 1857
Location: Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model: gpt-5-mini
Short Digest: 9ba13a3f

Response Measures

None

Description

Contemporary dispatches (25–28 Sept 1857) repeatedly report a heavy run on the City Bank in Philadelphia following the suspension of the Bank of Pennsylvania. The articles describe limited specie payments by many banks but do not state that the City Bank itself suspended or was placed in receivership; reports indicate banks redeemed small notes and continued business. Thus the episode is classified as a run only.

Events (1)

1. September 25, 1857 Run

Cause: Local Banks
Cause Details: Run was triggered by the suspension of the Bank of Pennsylvania and broader banking distress (action of other banks and recent commercial failures) which sparked depositors to withdraw from City Bank.
Measures: Banks in the city limited specie payments (redeeming mainly small notes such as $5 and $10); City Bank faced long lines but continued to operate and redeem notes.
Newspaper Excerpt: There is a heavy run on the City Bank, and all the counters of Banks are besieged with depositors and note holders.
Source: newspapers

Newspaper Articles (14)

1. September 25, 1857 Evening Star Washington, DC

Article from Evening Star, September 25, 1857

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TELEGRAPHIC NEWS. FROM THE ASSOCIATED PRESS. Bank Suspensions. PHILADELPHIA, Sept. 25 --Fhe Bank of Pennsylvania, in this city, has suspended specie payments by a resolution of the Board of Directors. There is much excitement in consequence. [SECOND DISPATCH.] The Bank of Pennsylvania's suspension is complete; but the President says it was caused by the action of other Banks against it, and the losses sustained by recent failures of dry goods men. He also says that it will be only temporary, and that the capital is untouched. The Girard Bank is giving specie for its notes, but depositors' checks will not be honored until one o'clock. There is a heavy run on the City Bank. and all the counters of Banks are besieged with depositors and note holders. There is much alarm, and almost a suspension of business. 1½ p. m-The Girard Bank is only paying specie for "5's" and "10's," the larger notes and checks being refused. The Commercial Bank, and several others, are taking the same course, promising to resume full business to-morrow. The excitement is intense. The Bank of Pennsylvania has the State funds, and the Girard Bank the City funds.

2. September 26, 1857 The American Washington, DC

Article from The American, September 26, 1857

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Bank Suspension. Philadelphia, Sept. 25-The Bank of Pennsylvania, in this city, has suspended specie payments by a resolution of the Board of Directors. There is much excitement in consequence. The Bank of Pennsylvania's suspension is complete; but the President says it was caused by the action of other banks against it, and the losses sustained by recent' failures of dry goods men. He a so says that it will be only temporary, and that the capital is untouched. The Girard Bank is giving specie for its notes, but depositors' checks will not be honored until one o'clock. There is a heavy run on the City Bank, and all the counters of Banks are beseiged with depositors and not holders. There is much alarm, and almost a suspension of business. 1½ p. m.-The Girard Bank is only paying specie fr 5's" and 10's," the larger notes and checks being refused. The Commercial Bank, and several others, are taking the same course, promising to resume full business to-morrow. The excitement is intense. The Bank 0 Pennsylvania has the State fund, and the Girard Bank the City funds.

3. September 26, 1857 The Cecil Whig Elkton, MD

Article from The Cecil Whig, September 26, 1857

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again next week. BANK SUSPENSIONS.- We have rumors here of the suspension of the following Philadelphia Banks: The Commercial Bank, The City Bank, and the Bank of Pennsy Ivania.

4. September 26, 1857 Worcester Daily Spy Worcester, MA

Article from Worcester Daily Spy, September 26, 1857

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Suspension of Banks. SUSPENSION UB THE Bank OF PENNSYLVANIA.-Philadelphia, Sept. 25.-The Bank of Pennsylvania has suspended specie payments, by resolutionsof the Board of Directors. The suspension is complete. The President says it has been brought about by the action of other banks against it, and losses by recent failures. He further says the suspension is only temporary, and the capital is untouched. The Girard Bank is giving specie for its 0 wn notes, but checks will not be honored till one o'clock. There is a heavy run on the City Bank, and the counters of all the other banks are besieged with depositors and note-holders. The excitement is increasing, and there is almost a suspension of business. Philadelphia, Sept. 25.-The Girard Bank is only paying specie for fives and tens-large notes and checks being refused. The Commercial and other banks are taking the same course, promising to resume tomorrow. The excitemeut is intense. The Pennsylvania Bank has the State funds, and the Girard Bank those of the city. Later.-The Girard and Commercial Banks have failed.

5. September 26, 1857 The Daily Dispatch Richmond, VA

Article from The Daily Dispatch, September 26, 1857

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TELEGRAPHIC NEWS. REPORTED FOR THE DAILY DISPATCH. BANK SUSPENSIONS IN PHILADELPHIAFINANCIAL PANIC. PHILADELPHIA, Sept. 25.-The Bank of Pennsylvania has suspended specie payment. The Girard Bank refuses depositor's checks until 1 o'clock this afternoon. There is a heavy run on the City Bank and others. There is great alarm in the money market here, and business is almost suspended. [SECOND DISGATOR.] biladelphia, Sept. 25, P.M/-The President of the Bank of Pennsylvania says the suspension is caused by the action of other banks against it, and the recent failures of dry goods men. He says it is temporary, and that the capital is untouched. There was a heavy run at the counter by note holders and depositors. [THIRD DISPATCH.] Philadelphia, Sept. 25.-There is general confusion in the money market. The Presidents of all the banks held a meeting this afternoon, and after carefully canvassing all the circumstances of the pressure, and their resources, resolved on a temporary suspension of specie payments on checks. also on bills exceeding $10. This arrangement takes effect to-morrow. There was a heavy run on all the banks to-day, but the Girard and some others shielded themselves in the manner named. The public should discredit the reports about total failures, as it is known that highly exaggerated statements have been sent abroad during momentary excitement.

6. September 26, 1857 Wheeling Daily Intelligencer Wheeling, WV

Article from Wheeling Daily Intelligencer, September 26, 1857

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RAPHIC BY THE UNION LINE. OFFICE, CORNER WATER AND MONROE STREETS. [From the Intelligence# Extra, of Yesterday.] BANK SUSPENSION. EXCITE SENT IN PHIADELPHIA. PHILADELPHIA, Sept. 25.-The - Bank of Pennsylvania suspended this morning. Suspension complete, but the President says it is caused by the action of other Banks against it and losses from the recent failures of Dry Goods men; he says the suspension will be only temporary, that the capital is undoubted. The Girard Bank is giving specie for notes, but checks will not be honored until one o'elock.----------------Heavy run on the City Bank, and all Counter Banks besieged with depositors and note holders. Much aların and almost a total suspension of business. The Girard bank still refuses payment for checks and notes above ten dollars.The Commercial and several other banks have taken the same course, and the present heavy run will probably cause all the banks here to suspend specie payments. The Pennsylvania Bank has charge of the State Funds, and the Girard Bank those of the city. The excitement is becoming intense. NEW YORK, September 25.-The Bank of Medina, New York, has failed, and the firm of Bangs & Bro.'s, Book Auctioneers of this city, also failed. CINCINNATI, Sept. 25.--Money affairs mo! e pressing if possible than they have been. Eastern exchange in demand at 2 per cent premium and tendency upward.

7. September 26, 1857 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, September 26, 1857

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SUSPENSION OF BANKS-RUN ON PHILADELPHIA BANKS. PHILADELPHIA, Friday, Sept. 25, 1857. The Bank of Pennsylvania has suspended specie payments by a resolution of the Board of Directors. The President says the suspension is caused by the aotion of the banks against in and its losses by the reHe also says it will cent failures of dry goo be only temporary, and that capital is untouched. The Girard Bank is giving specie for its notes, but checks will not be henored till 1 o'clock. There is a heavy run upon the City Bank, and all the counters of banks are beseiged with depositors and note-holders. There is much alarm and almost a suspension of business in the city. PHILADELPHIA--1:30 P. M. The Girard Bank only is paying special for fives and tens, larger notes and checks being refused. The Commercial and other banks are taking the same course, promising to resume to-morrow. The excitement is intense. The Pennsylvania Bank has the State funds, and the Girard Bask those of the city. PHILADELPHIA, 10 D. in. A general conference of the Presidents of all the Banks was held this afternoon, and after carefully canvassing all the circumstances of the pressure and their resources, resolved en a temporary suspension of specie payments on checks, and also on bills exceeding $10, to go into effect to morrow. There was a heavy run on the Banks to-day, but the Girard and some others shielded themselves in the above manner. All reports of total failures of any of our Banks are to be discredited. Brokers and others are highly excited, and circulate monstrous reports. There is no "Merchants' Bank" here, the repert in & New-York paper to the contrary notwithstanding. PHILADELPHIA, 11 P. M. It is now understood that the Back Presidents have unanimously resolved to recommend to the several Boards of Directors a total suspension of specie payments to take effect to-morrow. According to the law of 1850, this action will entail the forfeiture of the charters of the Banks incorporated or extended since that time. WASHINGTON, Friday, Sept. 25, 1857. The suspension of the Bank of Pennsylvania, and the refusal of the Girard and other Banks to make specie payments on bills over $10 and checks, excited surprise in commercial circles.

8. September 26, 1857 New-York Daily Tribune New York, NY

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FRIDAY, Sept. 25-P. M. We should probably have had rather a better feeling in the Stock Market this morning, but for the advices of the culmination of the financial troubles in Philadelphia, in the suspension of some of the leading banks there, and aren upon the others. The suspension ofthe Bank of Pennsylvania was known early, and that information had a serious influence upon Stock trans. actions at the Board. Stocks were pressed in large quantities upon the market for cash, and a genera! decline was submitted to. The time operations are very few. At the Second Board, the advices of further disasters tended to repress the reaction which might naturally have been expected. The changes from yesterday are, Erie declined 1 P cent; Reading, under orders to sell from Philadelphia, P cent; N. Y. Central, 21 ₽ cent; Galena, 3 ₽ cent; Rock Island, which advanced yesterday 7 P cent, fell off to day 54 ₽ cent; Michigan Central declined 5 P cent; Toledo, 2 ₽ cent; Michigan Southern, 1 ₽ cent; Pennsylva nia Coal, 1/2 & cent; Pittsburgh, 3 ₽ cent; Milwaukee and Mississippi, 1) P cent; La Crosse, 24 P cent; Cumberland, 11 P cent, &c. Illinois Central was among the steadiest stocks, under orders to purchase about 1,500 shares for English account, received by the last steamer. Delaware and Hudson was steady. The changes in State stocks are less marked than in other descriptions sold to-day. Missouri 6's sold to con. siderable extent at 70, about the previous price. N.Y.5's, 1858 at 96}; California, 54@541; Louisiana 6, 8, Virginias, 841@84 &c. The sales of Railroad Bonds were to moderate extent and price tend downwardin the lack of public confidence in these securities the good and the bad suffer together. Erie 3d Mortgage cold at 50. At this rate this road, with an expenditure of $38,000,000 and earning $5,500,000, is selling for $10,000,000. After the Second Board there was but little doing in the street, and the market, although gloomy, was without important change. The rates of Foreign Exchange are unsettled and the business very small. This difficulty of negotiating bills embarrasses the movement of produce, and may result in the importation of gold to pay for breadstuffs. We are told that already some parcels of gold are on the way from Liverpool for this purpose. The range of Sterling is 5 to 71 ₽ cent, with but few transactions at over 7 cent. The supply of bills is large, and to make sales backers are in many cases obliged to take short bills receivable in payment. Freights are less active. To Liverpool the engagements include Flour at 1s. 6d.; 22,000 bush. Grain at 5d.@6d.; 1,800 bales Cotton at 3.16@7-32d.; 25 boxes Manufactured Tobacco at 2s. To Bremen: 340 hhds. Sugar at 27s. 6d. A schooner with Lumber (yellow pine) from Orange River, Florida, to New. York at $8. The business of the Sub-Treasury was: Receipts $122,881 10 Payments, $297,361 19; Balance, $9,847,440 00. Among the payments to-day was $200,000 for purchasers of stocks by the Department of the Interior, on account of Indian trusts. The financial storm which has been impending at Philadelphia for some time past broke this morning. The contraction of the Banks there has been sharp and very considerable, and the consequence has been the failure of their largest debtors. Crippled by this and by the drain of gold from their vaults to this city, & portion of them have been unable to sustain themselves. The Bank of Pennsylvania, one of the oldest banks in the United States, stopped payment this morning, and immediately & run was commenced on the other Banks. The Girard suspended practically during the morning, paying specie only for its small notes, 58 and 10s. The City, Merchants', Commercial and Sixpenny Savings' Bank adopted the same course. It is hoped that they will resume to-morrow, but this is not probable. The Girard has been in trouble before, and the Bank of Pennsylvania bas been looked upon as dangerous by some far-seeing financiers for several years. The excitement in Philadelphia was of course intense, but it is hoped by the indulgence of the large debtors the remaining banks may sustain themselves. The Cashier of one of them left here to-night with $100,000 of material aid. As the Philadelphia Barke make

9. September 28, 1857 The Daily Gate City Keokuk, IA

Article from The Daily Gate City, September 28, 1857

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Telegraphic News. NEW York, Sept. 25.-It is reported that regulations are going on between the Boston Submarise Armor Company and the unders writer of the Central America, to raise her hull, which is supposed to be to about 28 fathom water. Additional names known to have been lost by the Central America. Capt. Dyer, Mr. Jerome, Engineer from Panama; L. T. Delano, Roston. Herald correspondence WASHINGTON, Sept. 24.-1 hear a rumor, and, from its source, (of which I am accustomed to place reliance,) that there is some renewal of ill-feelings existing between the government of Spain and this country. Recent advices from our Minister at Madrid, speak of a display of very' marked indignation towards him, the causes of which have thus been made public. It has been suggested that Mr. Dodge may have incautiously approached the Ministry on the subject of the purchase of the island of Cuba. A gentleman arrived here this evening direct from Kansas. He brought dispatches from Gov. Walker directed to the President. The contents will not probably be known until the return of the President, which will be on Monday. Everything resquiet when he left the Territory. The Governor had his proclamation ready for promulgation when he left. The Quarter-Master-General received a dispatch to-day from New Or. leans, stating that two companies had arrived there from Florida, en route to Kansae. Tribune correspondence: WASHINGTON, Sept. 24.-Col. Foreyth's conduct respecting the Grant is approved.— He is acting under special instructions to procure such modifications of the 8th article of the Gadsden Treaty, as will secure to the U.S. Army the right to convey over the Isthmus of Tehuantepec, mails, troops and ammunitions of war. Col. Forsyth explained that he wished this negotiation to precede any private grant. LOUISVILLE, Sept. 24.-The steamer Reacue is sunk at Vie Creek Rock, near Flint Iv. land. She will be a total loss. Insured in the Citizen's Company, Pittsburgh, for $50,000. No lives lost. The steamer John Tompkins has been raised and has arrived here. COLUMBUS, Ohio, Sep. 24.-The representatives of the Rail Roads west of the suspension bridge, Buffalo and the Ohio River, met to-day to consider the agreement of the four eastern main lines to reduce speed, increase fare and dispense with western R. R. ticket agencies in New York, and to dispense with runners, solicitors and the placard system generally. Gen. Wm. Robinson was lealled to the Chair, and E.S. Flint and Geo. Barnes made secretaries and a committee of ten appointed to report to-morrow, on the interest of the western connection with reference to new rates and the proposed reforms. Philadelphia, Sep. 25.-The Bank of Pennsylvania has suspended specie payment by " resolution of the Board of Directors.The President says the suspension is caused by the action against it, and its losses by the recent failures of dry goods men; he says also, that it will be only temporarily, and that the capital is untouched. The Girard Bank is giving specie for its notes but checks will not be honored till 1 o'clock. There is a heavy run of the City Bank, and all the counters of the Banks are besieged with depositors and note holders. There is much alarm and almost a suspension of business in the city. Philadelphia, Sep. 25.- The Girard Bank only is paying specie for fives and tenslarger notes and checks are refused. The Commercial and other banks are taking the same course, promising to resume to-morrow. The excitement is intense. The Pennsylvania Bank has the State funds, and the Girard those of the city.

10. September 29, 1857 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, September 29, 1857

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BANK DIFFICULTIES. THE PHILADELPHIA BANKS. PHILADELPHIA, Monday, Sept. 28, 1857. The Banks are pursuing the same course to-day that they pursued on Saturday. The Girard Bank is paying out specie on five dollar bills, and the Mechanics' and Southwark on all their notes. The Bank of North America suspended about 11 o'clock, and the suspension will now probably become general. PHILADELPHIA, 12 M. The Mechanics' Bank now redeems notes of $5 only. The following banks also redeem fives only: The Consolidation, the Northern Liberties, the Mechanics' and Manufacturers', the Commercial, the Western, and the City. The Philadelphia Bank pays out no specie, but redeems checks with its own notes. PHILADELPHIA-1 p. m. The Pennsylvania Bank is now paying out its own notes for checks, but refuses specie. The Mechanics' and Manufacturers' Bank is paying no specie. All the Banks of the city have changed their course since the opening hour. Some of them refuse to certify checks, but give due-bills to deposit with other Banks. It is just rumored on the street that the Governor refuses to issue a proclamation calling the Legislature together, unless the Pennsylvania Bank is placed OR & par with the other Banks, and her notes received on deposit. All is confusion and disorder, but it is not attended with the excitement that has existed in former days of trouble. Every kind of business is completely paralyzed, and it is impossible to make collections. 9 P.M. The Board of Trade have determined to call a meeting for & public expression of the various business interests of the city, with reference to the proposed legalization of the suspensions, believing that the best interests of the community and the State will be subserved thereby. It was suggested at the meeting of the Board this evening that where parties have notes protested only because they refuse to pay other than in par currency, it is the duty of the collecting bank or agency to have that fact made as public as the protest. The Presidents of the Banks have agreed to rectore the Bank of Pennsylvania to & position at the ClearingHouse and to receive its notes and discount liberally for their customers. Had this been sooner done there would have been no suppensions. SPECIAL SESSION OF THE LEGISLATURE. The proclamation of the Governor to convene an extra session of the Legislature will be published to. morrow morning. The proclamation saye: Whereas & perious financial revulsion resulting in the suspension of epecie payments by the Backs of this and other States, and wheresa, the fatlure of many long established commercial houses is leading to the destruction of confidence and to a general embarrasement and deprese on in trade, and is threatening to affect, disastrously. the credit of the Commonwealth and the great industrial interests of the people, and it requiring prompt and efficient action to relieve the alarmed and suffering community, therefore, I convene the Legislature, to meet on the 6th of October, and adopt such measure as the present exigency requires." The Governor has not yet determined what course to pursue regarding a special session of the Legisla. ture. Two Committees-one from the Banks-are now in private conference with him. Much feeling is said to exist between the banks-some, which are incorporated under the old law, and do not forfeit their charter, opposing the call of the Legislature. It is stated that if the Governor does not countermand his order, the proclamation will be issued to-morrow morning.

11. September 30, 1857 Smyrna Times Smyrna, DE

Article from Smyrna Times, September 30, 1857

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e THE MONEY PANIC-RUN UPON THE BANKS. was in a fever of excitement day, to the suspension of The city owing specie yester- payments by the Bank of Pennsylvania, and to the very general apprehension that other Banks would do likewise. At an early hour in the morning, crowds gathered in the vicinity of f many of these institutions, and their doors were not long open before it became evident that there would be a great run upon them. The announcement of the suspension of specie payments by the Bank of Pennsylvania was early made, and policemen were stationed at the gates to prevent the entrance of all who had not business with the officers. The following, signed by the Cashier, was conspicuously displayed at different points along the railing surrounding the building: Resolved, That this Bank suspend specie payments until further order of the Board." The crowd that gathered about the Pennsylvania Bank 8000 dispersed, and there was little or no excitement there during the rest of the day. In the neighborhood of the Girard Bank, was different. of were discussing however, there from it the the all-exciting topic, Groups gathered persons time of the opening to the close. It was in the course of checks would not be until the after morning, officially 1 o'clock. that announced, paid We learn that they were not paid, though the notes were redeemed up to the time of closing. In the course of the day there was more or less of a run upon all of the city banks, though in many instances it was made by the holders of one or more five dollar notes. In the morning, and up to one run the Farmers' and was There was a conchanics o'clock, the very upon heavy. Metinual stream into the and in the moin a line was formed to the from to paying banking teller's going desk, long composed bank, of fifty seventy five persons. Before two o'clock the excitement had abated, and but few persons were in the room. At the Philadelphia and the Western Bank, almost adjoining, there was a considerable rush throughout the day, as also at the Commercial and Bank of Commerce. It was understood that all of these redeemed their notes and paid depositors. The run upon the City Bank was probably greater than upon any of the others. All day there was a line reach. ing from the paying tellers' desk into the street, which at two o'clock was from fifteen to twenty yard> long. Policemen were stationed on the steps of the Bank to prevent persons from entering, all being compelled to take their places in line. The rush was considerable, but not so heavy, at the Northern Liberties, Manufacand Penn and Tradesmen's had The turers' Southwark and Mechanics Township.-- very little more than the ordinary demand for spe cie. The panic and the run upon the banks were everywhere the subje ct of conversationin the stores, counting-rooms, workshops and C market place...-Ledger of Saturday. 03 From modern N. Y. Rome comes a cheese, to be exhibited in the Pennsylvania State Fair, the weight of which is six hundred pounds.

12. October 1, 1857 Delaware Weekly Republican Wilmington, DE

Article from Delaware Weekly Republican, October 1, 1857

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THE MONEY PANIO-RUN UPON THE BANKS. -The city was in a tever of excitement on Friday, owing to the suspension of specie payments by the Bank of Pennsylvania, and to the very general apprehension that other Banks would do likewise. At an early hour in the morning, crowds gathered in the vicinity of many of these institutions, and their doors were not long open before it became apparent that there would be a run upon them. The announcement of the suspension of specie payments by the Bank of Pennsylvania was early made, and policemen were stationed at the gates to prevent the entrance of all who had not business with the officers. The following, signed by the Cashier, was conspienously displayed at different points along the railing surrounding the building: Resolved, That this Bank suspend specie payments until further order of the Board." The crowd that gathered about the Pennsylvania Bank soon dispersed, and there was little or no excitement there during the rest of the day. In the neighborhood of the Girard Bank, however, it was different. Groups of persons discussing the all-exciting topic, were gathered there from the time of the opening to the close. It was officially announced, in the course of the morning, that checks would not be paid until after 1 o'clock. We learn that they were not paid, though the notes were redeemed up to the time of closing. In the course of the day there was more or less of a run upon all of the city banks, though in many instances it was made by the holders of one or more five dollar notes. In the morning, and up to one o'clock, the run upon the Farmers' and Mechanics' was very heavy. There was a continual stream going into the bank, and in the banking room a long line was formed to the paying teller's desk, composed of from fifty to seventy five persons. Before two o'ciock the excitement had abated, and but few persons were in the room. At the Philadelphia and the Western Bank, almost adjoining, there was a considerable rush throughout the day, as also at the Commercial and Bank of Commerce. It was understood that all of these redeemed their notes and paid depositors. The run upon the City Bank was probably greater than upon any of the others. All day there was a line reaching from the paying tellers' desk into the which at two o'clock was from fifteen to twenty yards long. Policemen were stationed on the steps of the Bank to prevent persons from entering, all being compelled to take their places in line. While we were at the Bank, an old lady came up with a check, and was about to push her way in, when she was ordered back, and told that she must do as the others had done. The rush was considerable, but not 80 heavy, at the Northern Liberties, Manufacturers' and Mechanics and Penn Township. The Southwark and Tradesmen's had very little more than the ordinary demand for specie.The panic and the run upon the banks were everywhere the subject of conversation, in the stores, counting-rooms, workshops and market places. In all the crowds about the banks, laboring men, and others in humble circumstances, could be seen, who were there evidently for the purpose of obtaining specie for a single note or two. The panic seemed, however to have effected other classes. Throughout the day, notes of the banks held in bad repute were refused by shopkeepers, and the specie insisted upon in paymen of purchases made. -Ledger.

13. October 3, 1857 Republican Vindicator Staunton, VA

Article from Republican Vindicator, October 3, 1857

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The Excitement in the Money Market. The Bank's here yesterday, did a moderate business and closed firm. A telegraphic dispatch was received in the morning, announcing that broker's agents had passed through Washington, with from $30,000 to $100,000 in notes to be redeemed in this city and Petersburg. The dispatch was immediately sent to the Banks here, but created no uncasiness, as it is stated that they have enough specie in their vaults to stand any run that can be made. If the dispatch was correct, the holders of the notes have deferred their action, as no run was experienced. The notes of all Independent Banks were thrown out yesterday. The telegraph unnounces more suspensions in Virginia, including the Winchester and Wheeling banks. In North Carolina, the Farmers' Bank, at Elizabeth City, N. C., has failed, and the brokers in Norfolk are buying its notes at 50 cents on the dollar. In Norfolk, the directors of the banks held a meeting on Monday morning, but took no action. The papers of that city, however, announce that no suspension will take place. A correspondent writes that the general impression there is that they will suspend, and mentions the fact that the brokers in Baltimore are buying up funds for & run on them. In Petersburg, our correspondent reports matters to have assumed their usual quiet. In Alexandria, a petition has been gotten up, numerously signed, which was to have been presented to the bank directors yesterday morning, asking them to suspend specie payment for the present. Dispatches received from the North last night state that money matters in New York are more cheerful, in consequence of a report that the banks were considering the expediency of expanding to the extent of several millions. In Boston, yesterday, strong confidence was entertained that the institutions there would weather the storm. There is nothing new from Philadelphia, except the fact that the city and Southwark banks there were paying specie for small notes yesterday, despite the agreement for & general suspension entered into the day before. Some RCW suspensions are announced in New Jersey, though on the whole financial matters look more hopeful than they did yesterday. Gov. Pollock has issued his proclamation, convening the Pennsylvania Legislature on the 6th proximo-the banks having consented to receive the Pennsylvania Bank on the same footing with themselves. The panic affected the New York Stock market, Monday, to such a degree that everything went down 12 per cent. $10,000 Va. 6's, were sold at 70 a 73, and 82,000 Missouri 6's, at 63 a 64.

14. November 25, 1857 Democrat and Sentinel Ebensburg, PA

Article from Democrat and Sentinel, November 25, 1857

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Consolidation Bank, Nov. Bank of Chambersburg, Nov. Reading Savings Bank, Bank of Danville, Nov.1 Western Bank, ,Nove South Wark Bank Nov. Miners' Bank of Pottaville, WE Tradesmen's Bank of Philadelphia, Nov, Farmers' and Mechanics' Bank of Ponasylvania, Nov: Mechanics' Bank of Pittsburg, AGA Bank of Penn township, Nov: Kensington Bank, Nov, Farmers' Bank of Reading, Nov. Lebanon Bank, Nor: Laneaster County Bank, Nov Girard Bank, Nor Easton Bank, Nov, Allentown Bank, Nov, Bank of Lawrence county, Novi Wyoming Bank at Wilkesbarre, Nor, Anthracite Bank of Tamaqua, Nov, Farmers' Bank of Easton, Nov. Doylestown Bank, Nov. Lock Haven Bank, Nor Commercial Bank of Pennsylvania, Nov. Bank of Germantown, Nov. Farmers' Bank of Lancaster, Nov. Merchants' and Manufacturers' Bank of Pittsburg. Nov. Mochanies' Bank of Philadelphia, Nov Harrisburg Bank, Nov. Bank of the Northern Liberties, Nov, Bank of Middletown, Nov. Mauch Chunk Bank, Nov. Columbia Bank, ,Now, Bank of Commerce. Nov Six Penny Savings Institution, of Philadelphia, Nov / Bank of North America, Nov City Bank, (Philadelphia,) Nov Nov Exchange Bank of Pittsburg, Bank 0: Gettysburg, Nov Manufacturers' and Mechanica' Bank of Philadelphia, Nov Nov Citizens' Deposit Bank of Pittsburg, Honesdale Bank, No Bank of Delaware county, Nov. Nov Bank of Montgomery County, Bank of Pennsylvania, NW York Bank, Nov1 York County Bank, Nor] Nor] Philadelphia Saving Fund Society, Lewisburg Bank, Nov West Branch Bank, Nor Not Bank of Choster County, Penn'a Co. for Insurance on Lives and Granting Annuities, Nov.] National Safety, Insurance and Trust Co., Nov Western Saving Fund Society of Philadelphia, Nov. Central Insurance Co., Harrisbarg, Nov War. en County Bank, Not No further notice of acceptance have be received at the Auditor General's office (4 several days past, and it is therefore preus ble that those Banks that have not signition their accaptance, have declined the provi ions of the law. Woobserve, however. fre the newspapers. that the Erie City Back au the Bucks County Bank, bad taken to accept, but no notice to this effect has : been received at the Author's Department The law allowed the Banks thirty days ter the date of suspension, to accept the pr visions, and required them to give notice the Auditor General of the factor acceptant All the new Banks pay specie. Mr. C. McLain, Bank clerk of the depart ment, is entitled to our thanks for his tesy in giving access to the books from which we have derive di our statement We append a list of the Banks and Savings Institutions, from hom no notice of servy tance has been received, as follows :-