New-York daily tribune., 1857-09-28
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MAGNETIC TELEGRAPH ,
BANK. DIFFICULTIES.
THE BANKS OF PHILADELPHIA,
n,,,. C.S,xIau Cant cE 14r

PHILADELPHIA, Saturday, Sept. 20, 1857.
Third and Chestnut streets are again the scese Of
excitement. Crowds surrounded the Savings IAstits-
tons before O'Clock a. m. They decline paying ost
deposits, requiring two weeks notice. The banks
were besieged before 10 O'Clock. The Pennsyivanis
Bank reepened, and is transacting business, but psy
ing 10 specie. The Mechanics Bank is paying specie
for tens.
The Girard Bank has come to terms partially, re-.
deemng ives with specie but refusing to honor the
checks of depositors Most Of the other banks ara
marking checks good.
There is no concert of action among the BanksS
each is apparently taking different course. Tia
Bank of North America is paying specie for tens, but
issuing no notes on checks. The Bank of Commerce
is refusing specie but is paying out notes for checks.
The following banks are paying specie tor 5s: Con-
mercial. Manufacturers and Mechanics, and Philade-
pha. The Farmers and Mechanics pay specie foe
los. The Northern Liberties and Western pay specie
for bills in cases Of necessity. The Bank OF Peaa
Township, and the City Consolidation Bank pH
nothing.
All banks, however, except the Girard, certify
checks The Girard has entirely suspended business
Some Of the bsnks will receive no deposits.
Il:l5--s. q.
The Girard Bank is now paying specie for fves al
certifying cheeks
The Trademarks Bank pays everything, checks and
all.
The Bank of North America is paying all its notes.
It received specie from NewYork last night and re-
presents that it has more in its vaults than s amount
of bills. 1t is certifying checks.
The Board of Brokers passed resolution this morn
ing to the effect that all settlements in the purchase Of
stocks may be made by certified checks any Of tho
city banks current on the day of settlement.
The Southwark Bank pays specie for all its bills.
The Bank of Remington pays for fves only.
The Pittsburgh, Harrisburg, Lancaster and Rssdiag
banks have suspended.
meeting of the presidents of the banks was held
this afternoon and it is reported that for want OF
concert Of action they adjourned without arriving OF
any determination. 1t thought they would deter.
mine on full suspension, practiced by some OF the
banks to-day, but which not general on account
Of the North America, Mechanics and some Of tAo
other banks receiving supply of specie.
There was asO meeting of the cashiers of the vs.
rious banks, but their action is not yet known.
l2p. a.
The bank presidents met tonight. They had con-
ference with the Governor, and asked him to call
special session of the Legislature for October 6, with
the view Of aordng relief to the banks from the pen
atty Of forfeiture of charter imposed by the law Of
1850. Several of the banks however, as not acting
under this law, including the Pennsylvania, Farmers
and Mechanics, Philadelphia and Western.
The Governor expresses desire TO consult Attor-
ney-Genera Franklin, who is not in town. No doubt
the proclamation calling extra session will be issued
on Monday morning.
PHILADELPHIA, Sept. q, 1857.
1t is understood that the Governor has determined
upon calling special session of the Legislature to q
sembe on the first Tuesday in October The prociar
nation will be Issued tomorrow.