Weekly North Carolina standard. [volume] (Raleigh, N.C.) 1850-1858, 1857-10-07
The hanks and the Money Panic,
The Banks in Philadelphia.

- o.
The Banks in PHILADELPHIA. |
PHILADELPHIA, Sept 2S.-Al is confusion here,
but there is very little excitement 1t is rumored
the street that the Governor refuses to issue pro-
clamation copvening the Legislature unless the Bank
of Pennsylvania is put the same footing as the
Others and her notes received on deposit. She now
pays her own notes for checks -,
=. = The Banks in Neso York
New York, Sept. 2S.-The Banks are firm. Very
heavy failures are reported. ''
Advices from Albany mention run on the Saw
ings Department by the small depositors. There is
no pressure elsewhere, and bill holders there are
quiet, and confident go
.s- [sEcoND DESPATCH r--'.-3-
NEW YORK, Sept. 2S-Exchange Philadelphia
ten per cent. The Bank statement shows q reduc-
ton Of loans and strong specie column. The rates
on the street in some cases reach six per cent a
month. ~.- -..-..-L .. ,.- =
The Metropolitan, Republic, Merchants Bank Of
New York, Mechanics, American, Exchange, Union
and Phoenix Banks have issued a circular assuring
the public Of their ability and determination to main
tain specie basis, aud expressing the opinion that
the tendency of specie and produce to this point will
soon enable the banks to relieve the pressure that
exists '..
The Eastern Banks '-
BosToN, Sept. 2S-The Suffolk Bank refuses to
redeem the notes of the New England country
Banks.
The Philadelphia Banks
PHILADELPHIA, Sept. 2S.-The Banks of this city
commenced repeating the course pursued on Satur-
day the Girard paying specie for fves &c. The
Mechanics Bank and all the Southwark Banks, and
the North American Bank, have suspended In all
about eleven have suspended, and the suspension
will probably become general
The Washington City Banks. r
WAsHINGroN, Sept. 2s.-The Bank Of the Metro
polls paid about SEA, 900 on Saturday, but OBJ
liged to suspend totally to-day. The Bank of Wash
ington and the Patriotic Bank followed the example
heavy run was made on all the banks. Virginia
notes five per cent discount, with further
dency downward Uncurrent money is unsaleable
Business is parazed.
Ertra Session of the Pennsylvania Legislature
PHILADELPHIA, Sept. 29.-It is understood that the
| Governor has determined upon calling special
sion of the Legislature, to assemble on the first
Tuesday in October. The proclamation will be is
| sued tomorrow.
| Virginia Banks
| WHEELING, Va, Sept. ga meeting of citizens
was held here to-day in reference to the present
monetary crisis, when the banks were requested to
suspend a measure of precauton in consequence
of run upon the banks by foreign brokers.
The Banks of Alexandria.
| ALEXANDRIA, Sept. 2s-The banks will not allow
a. run to be made on them, consequently they are
paying only small sums of specie.
| TIE Banks in Norfolk, "a.
NORFOLK, Sept. 2s,h.-Some feeling is manifested
about the sus ension of the Baltimore Banks but so
far all here is right.
| [sEcoND DESPATCH
NORFOLK, Sept 2s.-There have been no suspen-
sons here. All is quiet. Apprehensions are enter
tanned by the banks here of them from
abroad, but they feel secure.
The North Carolina Banks
| WILMINGTON, n. e., Sept. 2S.-No excitement x.
lists here. The Banks perfectly sound, and all
continue as here,ofore but their future action will be
governed by that Of their neighbors.
.-. Georgia Bauks
AUGUSTA, Sept. 2S--The South Carolina and Geo.
nj of nSiOn
has not been entertained by them.
Latest Financial Intelligence
New YoRK-The brokers are crying down East.
ern and New Jersey money, and some even refuse
to touch at any price.
ALBANY.-Ihe runs on the Savings banks have
caused suspension. The gold drawn out in the
panic yesterday, is being returned to-day.
BosTON.-Nothing new in financial matters has
occurred Full confidence exists in the stability o
all the banks
IL. Philadelphia, the city and Southwark banks are
paying specie for small notes. Despite the agreement
yesterday, they receive notes Of other banks on de-
posite, except on the Bank of Pennsylvania.
, TRENroN.-H. II. Bottom Co, paper dealers
and Bottom, Tiffany G Co., Machinists, have failed
East Jersey including Trenton, banks will hold ou
q while. .'..
: York, Pa, continues firm.
Later from New York reports money affairs NOR,
cheerful in consequence Of the report OF the banks
considering the expediency of expanding to the ex
tent of several millions. No large failures reported
Exchange very variable and unsettled. No rates.
, The Directors of the Bank at Middletown, Pa, in
dvidually pledge thir private fortunes for the re
dempton Of all their notes in circulation Hon. 81
: mon Cameron, its President, is very wealthy.
Still later from New York says that the President
of all the banks recommend an extension in the dis
count Of three per cent the coming week, which vii
amount to over three millions.
! The failure of Bottom, Tiffany & Co., is contra
dcted. ... - ..
From Neao York.
New YORK, Sept 30.--The panic has subsided-
better feeling exits No failures are reported oday
The steamer Persia, for Liverpool, sailed at noon
). She took no specie.
1t is rumored that the steamer Tennessee, whic
sails to day for New Orleans, is connected with
other filbuster expedition.
, Orders have been sent to the New York Assay Oh
6cesfor the transfer to Philadelphia of large
of bullion to be coined in small pieces for the pres
ent pressing demands of business. --. -
Nearly half million of government stocks wer
r received by one firm to-day for redemption.
|. The Northern Bank Panic.
q BosToN, Sept. 30-The banks have decided to ez
t pand their discounts $3,OOO 900.
/. HARTFORD, Sept 30.-The banks have no though
S of suspending. They satisfied the crisis hs
f passed. ~ r. '. ,.E-
: PHILADELPHIA, Sept. 30.-The banks are all &C
t ing in harmony with the Bank of Pennsylvania, an
i arranging for firm basis business. The communit
y feel outraged at the want of reliable system i
r finance. - -..- -. ....
c. ILL.,