Pennsylvania Bank - Philadelphia, PA

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: January 3, 1848
Location: Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model: gpt-5-mini
Short Digest: b00f5cb7

Response Measures

None

Description

Newspaper reports a whispered rumor of runs on the Pennsylvania Bank and its neighbor, the Bank of North America, which drew crowds but quickly dispersed. No suspension, receivership, or reopening is mentioned.

Events (1)

1. January 3, 1848 Run

Cause: Rumor Or Misinformation
Cause Details: A whispered rumor circulated that there would be a run on the Pennsylvania Bank and the neighboring Bank of North America, prompting crowds to gather and people to run to and fro the banks; the disturbance soon subsided.
Newspaper Excerpt: A wagon the edge of the crowd gave whisper to his neighbor that there would be run Pennsylvania Bank and its present neighbor, the bot North America. The bait was nibbled at- the pread, and many anxious inquiries were made ... the crowd hurried step and ... running to or fro the banks, and soon quietly dispersed.
Source: newspapers

Newspaper Articles (1)

1. January 4, 1848 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, January 4, 1848

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Article Text

THE SOUTHERN MAIL Things in Philadelphia. respondence of The Tribune. HILADELPHIA, Jan. 3,1848. alowing, gorgeous, spring like day has attract of pedestrians or our fashionable thoroughfare. edice of the development of our national bump of occurred this morning. A new and splendid Crisity belonging to one one of our richest citizens, before the Pennsylvania Bank, and attracted come gezers. A wagon the edge of the crowd gave whisper to his nelgtbor that there would be run Pennsylvania Bank and its present neighbor, the bot North America. The bait was nibbled at- the pread, and many anxious inquiries were made as to & At last the carriage drove off-the crowd burried step and pooling breast running to or fro the banks. and soon quietly dispersed. It was almost &" 'saw" 88 the old story of the Regent-st. lion DRING food bis head, which rumor Vice-President DALLAS attracted one of the largest crowds he ever saw, even crowded, curious London 1 10 stated that nine deaths occurred in this vicinity om posure and neglect last week I can hardly credit ins Christian land. sholds, who was shot in Southwark on New Year's day alive, but horribly mutilated. The money stringency has somewhat relaxed. There is very little activity in the Market to-day. The eactions in Cotton have been limited The stock is creasing and prices are rather upon the decline Flour without demand. Holders ask 50. Corn. ed Yellow, is held at cta Corn Meal very dull $8 25. Whest without change. Whisky, in bbls. 25c. Wesin hids at 22)c. Groceries and Provisions without ange. The sales at the Board were very limited. First Board 500 Lehigh Int, 61; 3,000 S Treas Notes, 99:50US Bk.S Second Board -5,000 Penn 5s. 70 200 Wilmington alroad 6s. 78 2,100 do do, 70% 2,600 Schvkl Nav 68, 44: 500 Govt. Loan 6s, 67,99;125 Girard Bk,03 BALTIMORE, 1 P.M. The mail steamboats from Norfolk arrived this soming in good time, and brought all the back mails of link, butone. This gives us a perfect avalanche pe. MTS: the contents are dry, but they look as if they had en exposed to some of the recent heavy fogs. If they were white paper" they would need no wetting down press Col. Harney is here, and is the observed of all observers. Stocks are without material movement. The payment the State interest has imparted buoyancy to Maryland curities. markets are dull. Flour is merely nominal at last week's Our closing prices. There is a great disinclination to parchase at present closing rates. quote the market at $ to 6 for Howard-st. and City Mills-buyers, but no ellers. The low stock teads to impart much firmness to holders. The same dolness existe in Grain, owing to the ight receipts and firmness of holders. Wheat of prime to 157f, and white at 1 40 to 42 A small quality ale of red at 1 29, not a very good article. The transac. ions of the day are not over 1,500 bush. Corn is without change in quotations, and sales to a moderate extent of at 69 to 62 for white mixed and yellow. Buyers would ew enter the market freely at some concession on the part of holders Corn Meal languid at 93 31 to 83 37, the tendency is downward. Southern Oats 40 42. No move. nent in barreled Meate Lard in small inquiry at 75 to for Western, and 8 cents for city rendered. No buyers Pork at present rates. Whisky continues dull at 27 to 27t. A general anxiety manifests itself to learn the overwater developments by the steamer now due. Pittsburgh,Jan.i-1 There are no farther particulars received here yet of the recent steamboat disaster. Many persons of our city having 01 expecting friends on board. have gone down to Maysville to relieve themselves of the horrible suspense. If the first reperts prove true, our place has to mourn the of several exemplary citizens loss receive no general news from the West, and the Cincinnati markets are dull and unchanged. Here also the year opens without any excitement in business. The entire absence of speculative demand in Breadstuffs and Provisions, after months of such eager inquiry. leads to an apparent heaviness, which is only the subsiding of the flood and the restoration of the calm current of business Navigation is in good order, and boats are arriving and departing freely Freights are not very active, though most boats get a fair amount of lading. x The President of the Senate has appointed Senator THOS JEFFERSON DAVIS of Mississippi. a Regent of the Smithsondan Institution, in the place of Mr. Senator CASS. resigned. The Speaker of the House of Representatives some days ago appointed the following Members of the House Regenta of the Institution, to serve until December, 1849, viz: Mr. HILLIARD of Alabama, (relippointment.) Mr. MARSH of Vermont, and Mr. McCLELLAND of Michigan, to filthe places of Mr. OWEN of Indiana, and Mr HOUGH of York, whose terms expired last month, and who, ceasing to be Members of the House of Representatives, [Nat. Intel. could not be reäppointed. INTERRUPTION OF THE MAILS.- This day four entire daily Mails from all the country south of Richmond are due at the Post Office in this city, the mail having falled altogether yesterday, as it had done on the two pre ceding days. As no mail arrives here. 80 no mail reaches the South from this place any more frequently than it arrives here from the same quarter. It is vain. under the present arrangement, or rather derangement of the Southern Mail, that newspapers are issued daily from the press of this city and of other cities north and east of us. Our papers might as well be printed once a month as once a In day for any certainty of their transmission South. fact. for all useful purposes, the whole South is cut off from communication with us, and the seat of Government cut off from its wonted connection with lower Virginia, the two Carolinas, Georgia, Florida, Louisiana, Alabama, Mississippi, Texas and Mexico. It is high time that a stop was put to this absurd arbecause impracticable. It is abso lately demonstrated now, whatever might have been supposed or hoped, that the mail cannot be transmitted with any regularity by the route of Chesapeake Bay and James River. Hitherto storms and fegs and dark nights haveinterrupted itstransportation. To these causes will soon be added Ice in the James River and in Baltimore harbor and the cessation of the communication, which is now only experienced by fits of four daysat a time, will become total. It is not to the South only, of course, but to every State in the Union, that this is a great and crying grievance. Every interest of the country demands that a remedy be immediately applied by the proper authority. Instead of passing in hot haste bills for raising thirty thousand men for the farther prosecution of a War of Invasion, the ob ject of which no nian will risk his character as a States. man or a Christian by undertaking to specify, the People of all parts of the country would like to see Congress engaged in reuniting the two great divisions of our OWD has Union, now effectively severed by the conflict which arisen between those two great domestic powers, the Postmaster General and the Richmond and Fredericksburg [Nat. Intel. 3d. Railroad Company FOREIGN IMPORTATIONS.