The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-01-30
Philadelphia.
TWIST.

~ Correspondence Of the Heraldl l,. t. r.
MI s.~.4 PHILApELPHIA, Jan. g, 1872
Another Run--Great Ercitement-1he State Interest
Not tobe Paid-- Probably Another Bank Falare-
State Stock Do,cn--Faihirs of a Broker-A
/ Game at Fisticufs t'mr'ar b..aa
We are to-day again in the midst OF confusion,
and another excitement great as that created by
the stoppage ofthe United States and Girard Basks
This morning all the other banks of the city stimuli
taneously refused the notes Of the Bank of Penn.
sylvania-the latter the agent you know to pay the
State. interest due on Tuesday next. As was to
have been expected this created an instantaneous
run upon that institution, which was kept up with
hourly Increasing additions in numbers until the
time Of closing the doors When o'clock came
there could not have been less han thousand per-
sons about its premises. 1t however continued to
pay fast teller chose to dole out other pa
per to the last But that they can hold cut over
Monday, without they use the whole Of the anosnt
deposited with them to pay the State Interest Ihave
not the slightest expectation. .rtr,y si.--
The cause Of the other city banks refusing its
paper was 10 conseq uence Of obtaining information
that the Bank Of Psnns ylvania had been for some
time past adjusting its daily balances with them
through the of the State interest lying il their
vaults. They knew that if they permitted il to
pay the interest that it could not square its balan
ces and that they would then be compelled to dis
creditits paper, and at time when they must be
losers They considered that to bring it into disre
pute a day or, two sooner or later would not make
much ditfereHce to the bank, while TO them il was
matter Of material moment, for they might chance
to hold large amount of its issues The Banks
argued, either the State or US must be losers even
tusly; so, thought they, here's take care of our.
selves.
1t is now understood that the interest will not be
paid ON Tuesday, and rs conse quence Of this an
nouDcement, State Ewes have sold SINCE the Board
at 49, Great confusion prevails, and in the excite
meat, the Manufacturing & Mechanics' Bank, and
similar fate Of those that now lie in rnins.
In connection with these bank failures we have
others among merchants and brokers. OF the lat
ter, Of largest and reputed wealthiest
houses failed last night II is understood to have
had large amounts Of stocks hypOthe Gated, which
are now returning npon it for the money which of
course cannot be had. 1t is hoped by some that
some arrangement may yet be made ~
At the crowd yesterday about the Bank Of Penn
sylvania by way OF enlivening the scene, an anu
sing game Of fsticufs came of between Mr. George
patent medicine This son of syrup, who is a
violent whig, charged the ruin Of the banks to
Gen. Jackson. This Mr. c., loco, fatty denied,
accompanied with the lie. The lie was returned,
when Mr.. G. rejoined by blow. There were
vera passes though these Of the loco only told his
adversary not being able to put in effectualiy
The loco said he felt himself bound to plug any
man who abused Gen. jackson at this day for his
course ON the currency and the banks. With
harra for Jackson and down with the corrupt
banks, the whole passed of.