New-York daily tribune., 1857-09-29
BANK DIFFICULTIES.
THE PHILADELPHIA BANKS.

PHILADELPHIA, Monday, Sept. y, 1857.
The Banks are pursuing the course to day that
they pursued on Saturday.
The Girsrd Bank IL paying out specie on FIVE dollar
bills. sro the Mechanics and Southwark On sn their
notes.
The Bank of North America Suspended about II
O'Clock, and the suspension will probably become
general.
PHILADELPHIA, I2M.
The Meet anics Bank now redeems Dotes of IS only.
The following banks alec redeem 6ves only: The
Consolidation, the Northern Liberties the Mechancs'
and Manufacturer the Commercial, the Western, and
the City.
The Philadelphia Bank pays on. no specie, but re-
deems checks with it, notes.
PaILADLLpHA-l p. m.
The Pennsylvania Bank is now paying out its own
notes for checks, but refuses specie.
The Mechanics and Manufacturer Bank is paying
no specie.
All the Banks Of the city have changed their course
since the opening hour. Some Of them refuse to
tify cheoks but give due-bs to deposit with other
Banks-
It is Just rumored on the street that the Governor
refuses to issue proclamation calling the Legislature
together unless the Pennsylvania Bank is placed
par with the other Banks, and her notes received
deposit.
ALI is confusion and disorder, bu. il is mot attended
with the excitement that has existed in former days OF
trouble.
Every kind of business is completely parslyzed,
and il is impossible to make collections.
9p.N.
The Board of Trade have determined 10 can meet
ing for public expression Of the various business in
teress of the city with reference to the proposed le
gaizaon Of the suspensions, believing that the best
interests of the community and the State win be SUBJ
served thereby. 1t suggested at sbe meeting Of
the Board this evening thai where parties have notes
protested only because they refuse to pay other than
in Far currency it is the duty Of the collecting bank
or agency to have that fac. made a. public q the
protest.
The Presdents of the Banks have agreed 20 restore
the Bank Of Pennsylvania TO position q. the Clearing
House and to receive i,s notes and discount hbeGsy
for their customers Had this been done there
would have been no suspensions.
SPECIAL SESSION OF THE LEGIsLsrURE.
The proclamation of the Governor 10 convene an
extra session of the Legislature will be published TO-
morrow morning.
The proclamation ssys:
Whereas d seIious fpar cial rev usion resulting in
the suspension of specie BY the Backs Of this
and other States, ard wberess, the failure If many
lorg established commercial houses is leading to the
destruction Of confidence ard TO general embsrrass-
msnt and depresr On in trsde, and is threatening to
affect, dissstTously. the credit Of the Commonwealth
AT the great indus G al interests OF the people, snd il
requiring promp, and efficient s,tion TO relieve the
alarmed and suffering community, therefore, convene
the Legislature, 70 meet ou the 9TH of Octobcr and
adopt such asure ss the present exgency reques.
Ire Governor has not yet determined woa. cour.e
TO pursue regarding special session Of the Legisls-
tuTe. Two Committees-ope frsm the Banks-are
now in private conference with him. Much feeling h
said to exist between the bankssome, which are in
oorpcrated under the old law and do not forfeit their
charter, opposing the call Of the Legislature Ii s
stated that If the Governor does not couutermand bis
order, the proclamation viii be issued tomorrow
morning.