Star.
London, England, 1826-08-17 00:00:00

AMERICAN PAPERS.

Philadelphia Rapers of the 19th and 20th ult. were
received last night. They contain some additional par•
ticulars respecting the failure of the banks and j int stock
companies, which we annex :

/ROM TUE NEW YORE COMMERCIAL ADVERTISER,
JULY;IB.
MONEY AIIPAIRS.—There was another explosion at
about 12 o'clock today. and one which threatens feat ful
ravages, as it is, supposed to be a very heavy one. We
mean the stoppage of the Life and Fire Insurance Com-
pany. Tnere,is a great crovid in Wall and William-
streets, and reports are as usual very contradictory.—
Some allege that it is an absolute and heavy Naive,
while others assert that it is only a "suspension" of
payment, in consequence of the inability of the Com-
pany so raisea large siandunt of money which was wanted
on their securities.

TRADESM RN'S BANK.—The crowd in Chatham-square
is immense, and the press upon the bank great. The
outer doer's are open, but the inner doors are shtn. We
understand that such has been the alarm, that the bank
dares not commence paying their bills with less than
200,000 dollars, but that, in consequence of the panic,
Although they have 750,000 dollars of unquestionable
paper, they cannot at the present moment raise the
necessary sum. •
FULTON BANK.—The ran upon this idstitut?on yes-
terday was prodigious, but everything was promptly
met, and to•day. all is quiet. We passed the bank since
12 o'clock, and there was nobody at the doors.
Tug FRANKLIN BANK.—There are so many Com-
panies bearing the excellent name of Franklin, such as
the Franklin Bank of Jersey, the Franklin Manufactu-
ring Company, and the Franklin Company, and the old
Franklin Bank, that some of them were assaulted by
mistake. Yesterday, when the crowd left the Trades.
men's Bank, the Franklin being next on the way, they
surrounded it, but the crowd was composed of persons,
not one in tea of whom had a dollar of the paper of that
bank. However, an alarm spread, and before the bank
cicsed,something like 25,000 dollars had been drawn out
in specie. But the friends of the bank rallied, made their
deposits in specie, and when the doors closed there was
actually many thousands more of specie than when the
run commenced. This morning it was tenewed for a
time; but when the holders of bills came in, they found
such lots upon the counters,' and boxes opening, that
most of them, after the first hour, returned, and pre-
ferred keeping the paper. At twelve o'clock there were
no persons there, and the extra clerks were standing
idle. It was quite amusing to sit and watch the holders
of bills—to see the long frightened visages as they came
in, relaxing into a smile as they looked upon the piles of
specie, pocketed their bills again, and marched out.
The 'ft adesmen's Bank, it is presumed, will recom-
mence business as soon as the injunction granted by
Judge Edwards can be removed—probably in two or
three days. Those who hold their bills had better
hold on. The bank is considered solvent by the com-
munity. Stock offered this day at 90, but only 57 12 bide

NEW YORK, JULY 19.
The Life and Fire Insurance Company in this city,
another incorporated institution, stopped payment yes-
terday. The capital stock of this Company was 600,000
dollars, and its transactions have been extensive: We
have no means of ascertaining the amount of the en-
gagements of the Company, and can only say that the
public estimate them a 4 from half a million to upwards
of a million of dollars.
FROM Till NIW YORK COMMERCIAL ADVINTISER OF
JULY 17. •

TRADESMines BANC •••••, It was announced in the
morning papers, that Judge Edwards had granted an
injunction upon this institution, and the 44 panic" was
consequently increased. Early in the forenoon the
people holding the bills of this bank began to collect in
front of the building, to demand payment, but the doors
were clo,ed. Chatham•square was s •on thronged, and
it was judged is.rudent for the Mayor to proceed to the
spot. He did so, and addressed a few words to the
populace, with a view of preventing any outrage, by
allaying their feelings. In this he was successful, and
b.fore 12 o'clock one-half of tl.e crowd had dispersed.
The mysterious course which has been pursued by
the Officers and Ditectori of this bank has excited con-
siderable suspicion. Whether any actual fraud has
been committed is unknown; but it is understood that
fourteen of the late Direct :rs sold out all their stock
which was hypothecated to the bank, amounting to a
large proportion of 'the capital, at the rate of 28 per
cent. advance, with the dividend on, when the market
price of stock was then at about 10 per cent. Those
Gentlemen all gave their proles to Samuel Cox, the
new Cashier, to vote on their stock at the late election.

The fallowing communication, in regard to the affairs
of this bank, and the injunction, bas been handed to us
by a number of respectable and responsible Gentlemen,
by which it will be seed that the injunction is a condi;

tional one, and that the bank is believed to be perfectly
solvent. Holders of the notes, therefore, will act wisely
not to part with them at a loss. From all the statements
that we have heard (and we have this morning taken
great pain's to inform ourselves), we fully believe that
the means of the bank are ample:
It is also understood that 24 shares of the stock were
transferred to an equal number of individuals, to make
them eligible as Directots, ten of whom, together with
eight of the Directors who sold out their s ock, were
elected as Directors for the ensuing year. These cir-
cumstances becoming known to the public, as well as
some very unaccountable proceedings which occurred
at the election, excited the alarm of a great portion of
the stockholders, who had actually paid for their stock,
as well as those who held the notes of that bank; and
on Saturday last, two of the banks inWall7street refused
to
.receive the cotes of the Tradesmen's Bank ; upon
which, about four o'clock of the same day, one of the
stockholders and one of its creditors procured a qualified
injunction florn Judge Edwald., leaving -the bank at
liberty to pay all deposits, and to renew any notes which
had been discounted, as well as to redeem their notes:
It is believed.that 'the bank is now solvent, though
*the President haistalted tit:tithe-bank could not continue
to pay specie, if pres,,ed,innger than to-day at twelve.
Hopes are entertained th t the timely remedy which
has been applied will save the innocent stockholders and
credit of that hitherto flourishing institution.
In consequence of the " panic" there is something of a
" push," we are told, upon all the banks this morning
for specie; -but really people need be under no appre-
hem-ions. It is believed that the old and well-revlated
institutions were never in a more sound and healthy
state than at present.
~%Ve understand that the directors of the Tradesmen's
Bank have issued a handbill this morning, in which
they advise the holders of their notes, and stockholders,
not Co make a slicrifice of either, as they expect shortly
Co resume payment.
Tux FULTON HANK.—The run continues on this
Bank ; but at one o'clock P. at. we saw them taking in
a cart load of specie, and we hope they will be able to
meet all the demands against them.
• BonsTiro or Btrant.rs.—The excite/wilt- occasioned
by the stoppage of the United States Lombard Associ-
ation, and the Franklin Manufacturing Company, did
not abate on Saturday, but was rather increased by the
failure, of the-Hudson Insurance Company; although
that event was anticipated for some days before. It is
understOod, that the fate of the Green County Bank, at
Catshitl, was so closely identified with the above-named
institutions, that it is about to 44 kick -the bucket" in
company. Several of the Brokers in Wall-street Lulea
on Saturday, in cossequeoce, as it is understood, of
their losses by those Companies.