The Sun. — 1841-03-05 (London, England)

PHILADELPHIA, FEB. 6.—The banks held an informal meeting last night, at which, however, no conclusion as to the future course to be pursued by them was agreed upon. There sill exists considerable excitement here on the subject, although the "run" to-day in no respect equals that of yesterday ; probably more owing to the exhausted means of bill holders to press them, than from any increased confidence of the public or abatement of the panic.. The notes of many of the banks are almost wholly redeemed. The banks still continue pretty much the same course as that pursued yesterday ; all of them redeem their live dollar bills, some their tens, and some meet all their circulation with specie. Some mark cheeks, and others pay them by the notes of their own and other banks.  At the Phi;adelphia Bank notes of.tirti and )110 were paid in specie:—those of a larger denomination were received in exchange fur other notes, and in payment of debts. Demands on its deposits were met by the notes of other institutions and by marking checks good. At the United States Bank there was still to-day a large number of persons, and, though it paid its fives as yesterday, there was not a very serious draught upon its funds, from the fact, we imagine, that there are not at this time many outstanding. Its checks were met by its own notes, or were marked ' good.' The latter alternhtive was not desired, as we believe they are not at any of the banks received on deposit. At the Farmers' and Mechanics' Bank there was also a considerable crowd of persons. All demands of ten dollars and le's were met in specie, and on larger amounts a portion of specie was given when desired. Checks were either marked good' or paid in the notes of other banks, at the option of the holders. The great object seemed to be accommodating as far as was consistent with its means. The Mechanics' Bank pays its notes of ss.' The demands of depositors are discharged by its own notes of $lO and upwards by the notes of other banks, and by marking cheeks good.' There were but few persons at the Mechanics' Bank, and everything like a ' run' upon it seemed to have subsided. At the Moyamensing Bank there were a number of persons claiming specie, which was met so far as related to 5 dollar notes. Bils-a a denomination above that were not touched, and checks were either marked good,' or paid in its own and notes of other banks.  At the Pennsylvania Bank there were also a goodly number of claimants, which were met and disposed of precisely as at the Moyamensing Bank. At the Southwark Bank very little was doing, and specie for five dollar bills was paid. Checks were paid in the notes of other institutions. Lpto one o'clock none had been marked good,' except by request. At the Girard Bank there was nothing like the crowd of yesterday; yet there were more persons about it to-day than at any of• the other banks, except the United States. All its five dollar notes that were presented were promptly paid. Checks upon it were marked good.' When the bank closed yesterday, at three o'clock, there was a heavy press about the counter, clamorous for specie. These were all detained in the building, their demands satisfied, and let out at the back door. At the Western Bank all its notes were paid, of whatever denomination, except when presented by individuals in a large amount. Depositors were paid in the notes of other institutions, or by marking checks ' good.' 7he bank .of Penn township redeems its fives, and pays depositors in its own paper above that denomination, and in the paper of other banks. It has avoided the practice of marking checks 'good.' The Manufacturers' and Mechanics' Bank pays its five dollar notes, pays to depositors other bills, and marks checks good.' The Bank of the Northern Liberties pursues a similar Course. _  The Kensington Bank does the same. The Commercial Bank redeems all its notes in specie. Checks upon it are paid in other notes, or are marked good.' There is a strong feeling'of'disapprobation entertained by most of the city banks towards the United States Bank, for her recent suspension, and all of them have refused her paper, as they have that of almost all the country banks. It will be seen, by what is stated above, that all the banks but two or three are engaged in the old practice of marking checks.  When it was known on Thursday evening that the United States Bank had suspended, it was resolved to cut loose from that institution, discard its paper, and proceed in the payment of specie as before ; it was also unan►mously agreed that all balances between the banks be settled up iii specie before nine o'clock on Friday morning. This was faithfully complied with by most of the banks, and by the small Western Bank in particular, which paid to various institutions some $40,000 or $50,000; but when its demands were made on the Moyamensixig Bank, the Manufacturers' and Mechanics' Bank, and perhaps another, the pt omise was as faithlessly violated and the amount due withheld. Yet, in the face of these failures, the Western Bank continues the same.  cent. Foreignthe banks has The notes of the United States' Bank are selling at a discount to-day for specie of 15 per cent. A man of the name of Sheets, a labourer, committed suicide last night in the upper part of the city by shooting himself through the heart.. Want of business was the cause. (Correspondence of the Courier and Inquirer.)