The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-02-09
Philadelphia.


Correspondents ofthe Heraldl
PHILADELPHIA, Feb. 8, 1912.
Excitement in the Currency CircIes-Banks refuse De-
posites-T Tricks Of the Banks and Brokers-Me-
chanics and Penn 1s,rnship Banks--Another Crash
Coming-Ixe Bal, &c.
This is a most delightful day, but has brought
with il increased excitement on the subject Of the
currency. The news from Harrisburg 10 still
strongly in favor Of the passage Of the immediate
their actions show that they greatly fear it. The
Commercial Bank has refused all deposites OF eve
ry character, and under all circumstances. With
every desire to accommodate, they say they are
able to stand resumption. if they do not eneum-
Der themselves with an immense load OF deposites
in the shape Of deprecated paper, or what soon
will be deprecated, and meanto do it. 1 am great
~ gratifed to this and to find that have one
Bank disposed to play honest. Some of the mer.
camille depositors became greatly enraged At the
Banks refusal ofther deposites, and in pet with
drew their aecounts-the very thing that the Bank
Would s S. :S rid e PiSs 's:. cent A:s
more, and cancelled sbts that they would have
been liable for in specie. l am informed that the
d. rectors Of the Western Bank yesterdsy refused
one house. They are now in session to determine
whether they shal not fellow the course Of the COM
mercial and refuse ali deposites.
The brokess are at their old tricks. doing all
risburg odious, and thereby perpetuate suspension,
BY dePreciating ~ much ~ possible the Relief Is
sues. This trash Is valuees enough, and | have no
doubt will soon be so, but the brokers are de-
sirous in advance to make the people feel the loss
Of depreciation, tie hope that they will pray the
the to stay their hand and not order i'm.
mediate resumption. These adjuncts of the banks
have shown their hands too soon, and 30 far from
the people being induced to cry pecari, they are
more anxious than ever for resumption, and are
rapidly preparing themselves to meet it by stand.
ing aloof from these issues. When the resum ption
does come, all the efforts Of banks and brokers to
the contrary, of the opinion that most Of these
bills will be found in their own hands. Let your
readers remember ! cay don't touch these Relief
issues the loss them fall where il properly
belongs, and where there profit il any, would have
faIlen-to wit, on the banks. To-day, almost the
entire circulation Of the city is composed Of Me-
ehanics aAd Penn Township Bank notes, just as it
was OF Girard and Pennsylvania Bank notes, flew
from under, crash coming. Mind, sayit.
The business in stocks has been to q fair amount,
at prices much the same as yesterday. State Elves
declined selling for $50 in currency. Currency
is Z to per cent below specie, and the Relief Is
sues, except those Of the City Banks, are at dis.
count of 10 10 20 per cent below currency. Other
deprecated paper is OF the discount ~ here
tofere.
The ball Of the State Fencibles last night at the
Musical Fund Hall, was one Of the richest and
most pleasant Of its character that
has come Oft here this season. Youth, beauty, and
fashion abounded, and all the joyousness that at
tach TO them.
Thornton, the pipe.layer, who was discharged
by the sheriff for disturbing the late Tyler meet-
ing, has been restored to place again. FIRE Ia
Hambug.