The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-02-03
Philadelphia.

PHILADELPHIA, Feb. I'd, 1912.
All here to-day is quiet There is no run, bxt
great lack Of confidence in all descriptions Of paper
currency circulating among rs. No one holds it
moment longer than he can in any useful way get
rid of it. The practice of paying debts 90 long in
disuse, is be coming somewhat fashionable, for the
fear entertained by holders, that the Bank will
break. Large amounts have been paid for this
reason, that creditors had long given up as loss
The "league" Of City and County Banks Is be-
keved to be nearly quile perfected, and it is an
nounced, will 60 into operation on Monday. Each
Bank contributes S75 900 TO the Safety Fund. The
following Banks have selected each its Trustee as
follows:-
Bank of North America, John Richardson : Phi
ladelphia, Samuel F. Smith; Commercial, James
Dundas; Mechanics, J. B, Mitchell Penn Town
ship, D Hiaman Southwark, Thos Sparks !:
Western, ]. Patterson Farmers and Mechanics.
J. P. Hutchinson ; No. ,hern Liberties, David Kirk
patrick Manufacturer and Mechanics, Thomas
H. Craig; Moyamensing, Joseph Solons
Nothing is said upon the subject Of the payment
of the State Interest, and the matter is in more
doubt now, and appar emily remote, than it was
six months ago. The Bank has beyond all doubt
used much Of it to pay its own debts, and the re-
sources of the State Treasury are in no condition
to make il up Governor Porter has returned 10
Harrisburg.
The transactions in Stocks to-day are to a me-
di am amount, at considerable falling off in the
price Of all bank stocks City and State Fuads have
hundrsd-the former SlOi. Y, 8. Bank notes are al
discount OF 80 per cent on coin; Girard . to 80
Pennsylvania 10 TO Is; Towanda is not worth more
than Is cents on the dollar.
The President Of the Philadelphia Bank TO- day
resigned his place, and Samuel F. Smith was elect
ed to fil it. There is old adage that rats will
desert sinking ship" is to be hoped that il does
not apply in this case, though confess have my
has character to lose, and evidently dses not wish
to risk il in presiding over broken bank
A string Of two or three hundred persons have
to day been pa,sding through our principe! streets,
for the Kinsington Fire Company.
This morning, through the intervention Of A Do
Kslb Law, Esq the subscriber judgment, ere
ditors Of the Bank Of Pennsy presented the
| following petition to the Judges Of the Supreme
Court 1t is thought that the step will stop the ap-
continent OF Receiver.
To the HosoRAsLE JupeEs THE SUPREME Couar
OF THE ConNoswEAtrH OF PENNSYLVANIA.
Tho petition Of the citizens, residing with
In the City and County Of PHILADELPHIA respectfully
That are judgmen. creditors Of the Bank of Penn.
Ave hundred dollars and we observe, by the public
pspers that an Injunction upon that Bank has been "
sued BY H.ners and that you are about appoint
Receiver to take charge of its property and effects
We would. with due respect say to your Henors that
according to existing laws. we have priority over
ether creditors, and the proceedings you about "a
make, being unprecedented in this Common wealth. We
are not aware Of its and iearal that
/ will impair our legal rights.
Andwe would also with due respect ssy 10 your Ho
nors, that though we humble individuals nd ou
claims small yet we are as much entitled our pro
lection 40 more Prominent persons with larger claims
and while We Will TOW with respect 10 the mandak
your Honorable Court, whatever they may be- we hun
bly, hope that nothing will he done you 70 unsettie
disturb existing legal rights or to retsrd the operation
| Of existing laws.
| Pen. prLrHIA. Feb. 2, IS4l
| Signed, ANDREW MILLER
| WILLIAM C.. PARKER.
| ALEXANDER BROWNE.
| THOMAS BROMLEY.