The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-09-27
THE FINANCIAL PRESSURE.
Noo~o.oooo->>e>S~~-~oNe-o~
Tho Crisis in New England, Pennsyl-
vania and Maryland.
.o~1>~oeoN|~o~e0~No~~|
DupensSen or Banks In Baltimore, PhiIadeI-
pAia, fitfsburs, HarI lsburg, Lancaster,
Reading aud Washington.
~7e0N00Nc~eo1~<0~ON0~~~
Probable Call of an Extra Session of the
Pennsylvania Legislature,
-s-~@~oeeesoro1o~~~-oJ~
ADDITIONAL MERCANTILE FAILURES,
10, &C., 10
THE FINANCIAL PRESSURE.
THE CRISIS IN PHILADELPHIA.

THE CRISIS IN PHILADELPHIA.
PHILADELPHIA, sept 20 1887.
Tnird and Chestnut streets ain the OF exotic
ncnt Crowds surrounded tho savings Institutions before
O'Clock n. They decline paying nus depos t. requr
he t~o weess' notice. The banks beseged before
O'Clock. Tfe Pennsylvaua BAuk ye-opensd, ami b
~nsAeang business, but paying specie. The Mocha
acs Bank %, Ing tpece for The Gard Bank re-
fs to do business, and renders no sssfs'cn 70 de-
psCsoss note holders.
me GpNd BAnS has como 70 terms partially, redeem
s With speoe bat refusing 70 honor the checks Of
epcsors Koat OF the other banks marking checks
good.
There concert OF action among the banks-esch IL
A,psveaty taking different Tho Bank Of North
America paying ecie for tens, but issuing no notes oa
sAscks The Bank OF Commerce u refu,ng spece, but u
paying ors notes for checks
QUARTRR-PAsT ELnvlN O'CLOCK A. II.
mo GirHd Bank u paying specie for nves, and
s~tifying checks
Additional excitement produced by The news from
Baltimore Of suspensions there
Yas radesmen's Bank pa everything and all.
The Bank OF North Amercs 10 paying all it, 'tes Ii
esneved srecis from Ne York last night and represents
sa they hsve In their vaults Than the amount Of
bills they certifying checks
~ following bsnh paying specie for bik:-Oom.
osroaI NAnufactures' and Necbsaos' ami Philadelphia
fAs FAsmers and hechal cs pays specie for TONS TIE
Northern Liberties and Western cay specie for ves n
ses Of necessity The Bant OF Penn Township AMI the
usy ,nsohdsnon Bank pay pothiaS.
All banks, however, except the Girard certify checks
~ GSard has entirety suspended busness Bome OF the
tasks will rece 10 no deposits.
me Boar 6 Brokers passed resolution this morning
% the effect that oil settlements In the purchase OF stocks
49, 49,
Sayrsat on The day Of settlement.
Private dispatches say that the banks in Reading and
eitssourg have sos ended.
ne Sootbwark Bank pays specie for all its bills
The Bank Of Kensnst,n pays for nves only.
rwo CLOCK Pm
the PasburG, Harrisburg, Lancaster aud Reading
Sanks have sus ,endsd.
sEvzH O'CLOCK p n
meeting Of the presidents OF the banks held this
Afternoon, ana 10 rsed that fer wan. Of o.
soou they sdj,urned without arriving any desermlns
xcn. Hv ~ thought They would determine fall
psuson, prsctsed by OF the banks 70 say bu,
vSssh general on account Of The Nor Amerias,
Msohsnics and Of the ether banis reoeving sup
p1 a specie.
TAere also mect q OF the cashiers OF the various
Sanhs. but theb acdon Is not jet known.
sEh asdervtood that application will be made 70 the
for the cA;l OF extra Of the Leea
ture with The ow Of aorcins relief 70 The banks from
ths penalty Of forfeiture Of charter Imp sed by the law OF
Isso Several OF ihe banks, however, are not ao,ing
under this law inri1dng tho Pen ivania yrnsn and
MscAAaios Philadelphia and Western.
rwnvs O'CLOCK P. NJ
rAs Bank Presidents me, 70 night They had con-
srssee ~ih he Governor, and asked him 70 call specs
ssson or the Lesisasure for osooer g. rhs Governor
sxpgesses desire 70 consult Attorney General Franklin
Who y not In town. 40 doubt the proclamation calling
n sxna session viii be issued On Monday morning.
oUs PHILADELPHIA ooRsEsposrsscS.
PmADuPmA, Sept 2e, 1851.
ne Money Panie-- The Excitement Unabuted
ne telegraph has informed you Of the result OF the
needing Of Bank Presideps, which In sessi,u when
olssed my letter yesterday Afternoon The determination
- suspend specie payments except for small notes,
ysSushed In all The newspaps this morning Bv m-ans
q this publication Tho exciement which had yesterday
ben oonnned 10 lhtse who less kno .ins,
w carried into out Of the way places and tho sci
Ne old ladies' and The poorer oases OF noeheden geue
rally 70 fakins among thar hoard ascertain whether
Ne I've Or dollar bills sey had laid by fr their rent
q ihe purchase of their xintsrs feel
bio inio specie
Bright and o y in he morning, sordcs OF poor crsa
ssrcs might been sandng .. The bstk, waiting
for nem 10 open tneir doors and before tsn ooioos
ero~d or mere lockers bel ,ns up he eroitsmsa
and swelling hrong. As most Of lhc oa iky paid os
smAll sLls IL specie, the exosbls people sno mad Little
70 lose, su Who very uu-Iipg - lss Via, M 10
acre got rid OF and The vd sbout she banking 10
shsaaons d~inded ssay meAsursby, altho, gh kso of
sxcssa rdvidus continued gather Ia all the principal
see:s and disoun bsn and banking, and tho present
snrax, In animated language.
Today none OF the banks paid dcror,nrs checks; bu
h sn the good cheoxs ostaea and In that shape they
paymG u OF bills some srsprietors OF Ia &c esAbrshmsni
uere mpened 70 eet their certified cnejss exanAngsi
nor soeCe q, sha.s Of eiset ten ceo, in order
fAsa meAna N pas their hanta la other esiaolnnments
We operatives win receive pay s all, the propre
having o.sh .o meet the demands ssaIo, them,
tcur banks, 70 VIII: tne uschanics' Norm America
nn6esmens asd 7oath uark, paid all their Botahoicrs,
whcster theu demands wess light or heavy. Tpe 40
Dss are very suhsanua oon ,orns and The 90 Ass have
But . pmAii circulation.
me Frmers' and Heos .ncs' bark paid all ,her notes
vfshin mc denomination or ten dollars and the folio ~loG
named banks pd tneir nve dola noss bui nous aoove
ihas Amount-Pnlsdelpbsa, Uomuercs, Keosips on Com
narcial, Gir1d and kanufsctu er1 aad hechsncy
me Pennsyivania, CITY, uonsoid. uon western, Pens
fovpship and Ger manosn BAaks pail nolnng Tue
nscs. az 9psa sao0, 20 c %. no msssy -As pad
4, soms Ct The banks shs Boards Of Director, we're 10
session until lac hour Last nign and ihs discussions
lhsse conolsves veu earnest some Of ine banks
osaipea snbsianta aid from New York ssoo oo5 arrived
By express from your oy last ngut, and IKE wss
rhe Saving Funds, WHICH profess N pay dspostors
asunAnd, we're all bard 70 dAg. None of ,heu pAf
m: but oil made vgry liberal promises How tnose
stes ~i be redeemed problem winch remains 70 be
solved.
me news OF suspensiors, N lures, &c, which poured
IN from all quarters. tended 70 Increase local excite
usnt very lnsteraIly, AMI even The brokers ~ere be
vicercd and etnba assei by The failures end tun
~ failures uhic, poured In from egery dreo,oo Somo
~ The money sarps fraternity refasei 70 do buhnes
a. no, knowing vnss sni q 'ney vas safe 70 handle
fnose who rsve spsoe for paper ONLY did % wsh the
aM vap,e Of . swtnsiss shave.
Hss ness generals 10 sl q stand nill The Board OF
hoxess did nothing Of any account Prices Tor aooss,
tnass, &c are msseiy nomlIs and holders are unwpG
- sustain The enormous sarrin q ssla Soulf Involve
The failure Of the redeem their notes IN specie
roTfe toer chaycrs In There roma ,hs
OF aD exua session ef TIE Legislature ask for relief By
special oractmen, from thA per atty.
All o. 80 are directed towards New York, In expec alton
some move upon The part Of your banks in imitation 0f
we cnui se pursnef IN Penn vanla and Baltimore ire
oicsrspb 70 day gives that v be no sas
pension in Nes YORK
notwithstanding the excitement here, everything II
sos, snn only snail erirs body Of police required 10