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Paterson Bank. - We understand, says the Paterson Intelligencer, that the Directors of this Institution have given satisfactory security to the Chancellor, for the payment of all its notes, within one year, and that, in consequence, the appointment of Receivers has been set aside and the officers of the Bank are 10. invested with power to settle up its affairs themselves.
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Paterson Bank.- We understand, savs the Paterson Intelligencer, that the Directors of this Institution have given satisfac. tory security to the Chanceilor, for the payment of all its notes, within one year, and that, in consequence, the appointment of Receivers has been set aside and the officers of the Bank are TCInvested with power to settle up its aflairs themselves.
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Our Newark Correspondence. NEWARK, Sept. 27, 1851. Newark Banks-Their Solvency, &.c. I have noticed. for the last two or three days, that you have been using your influence, through the columns of your paper, in a laudable manner, to allay the excitement now existing in regard to the reported failures of individuals and banks. This course must meet the approbation of every citizen who feels an interest in the prosperity of the country. In the same column, however, you caution the public against the notes of all Jersey banks, except those created on the pledge of government or State stocks. You must be aware that there are in New Jersey many banks as good and as sound as any in the city of New York. and among these are the three banks of this city. They have been in operation from twenty to forty years. and are owned and managed by Newarkers. and managed wisely- - not like the Paterson Bank and some other concerns that are owned and managed by New Yorkers, who have no interest in their character or success The failure of such worthless swindling shops as these. should not be permitted to injure the good character of our sound banks, which have been found at all times, equal to any emergency and which have the entire confidence of our citizens. I believe there never has been a bank failure in this city, which I think. is more than can be said by any other city of its size in the Union. It is true that in 1837 our banks suspended epecid payments for a time, but not until New York city and all the country bad done so. I hope, sir, in justice to our city, you will give this a place in your columns and oblige A SUBSCRIBER AND MANUFACTURER.