Girard Bank (Philadelphia, PA)

Episode Information

Episode UID
9521708890505
Episode Type
Run → Suspension → Reopening
Bank Type
state
Bank ID
952170889 hash
Start Date
January 26, 1842
Location
Philadelphia, Pennsylvania (39.952, -75.164)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
b97baa2c0e678b86

Response Measures

None

Events (4)
1. January 26, 1842 Run
Cause
Local Banks
Cause Details
Other Philadelphia banks (e.g., Northern Liberties) refused to receive Girard notes, triggering public panic and heavy withdrawals.
Measures
Some exchanges of five-dollar notes for other paper; other banks attempted to support Girard (efforts reported).
Newspaper Excerpt
Great Excitement-Girard Bank Broke-... crowd at the counter was so dense
Source
newspapers
2. January 27, 1842 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank stopped redeeming notes above five dollars amid panic and reports of heavy liabilities/insolvency and alleged officer defalcation.
Newspaper Excerpt
The Girard Bank suspended yesterday.
Source
newspapers
3. March 16, 1842 Other
Newspaper Excerpt
This indenture made the sixteenth day of March... the Girard Bank... delivered to assignees ... in trust ... to sell and distribute proceeds to creditors (assignment). (assignment/indenture text).
Source
newspapers
4. September 1, 1846 Reopening
Newspaper Excerpt
The Girard Bank, of Philadelphia, resumed business a few days since, in its banking house in that city, upon an available capital of about two hundred thousand dollars, with the annexed board of directors. (resumption reported Sept. 1, 1846).
Source
newspapers

Newspaper Articles (23)
1. October 14, 1839 Morning Herald New York, NY
Article from Morning Herald, October 14, 1839

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been stated that the exchange returned, endorsed by the U. S. Bank in New York, had been paid with damages. This is, however, not the case; up to last night they had not been settled. Mr. Wilder is now in Philadelphia endeavoring to make some settlement. In the mean time the bank there is extending its discounts, while its accomplice, the Girard Bank, has been obliged, in consequence of the Governor's manifesto, to redeem the small bills they have issued in specie. In these assets of the U. S. Bank may be discovered the germ of the irredeemable policy. Stocks have been falling for the last eight months, and every endeavor has been used to create a rally. The U. S. Bank has used every endeavor, by drawing specie, to place herself in such a position that a general suspension would be consequent upon her taking the lead. In such an event, stocks would rise, and their assets so far recover their values in an inflated currency, as to enable them to clear themselves. The firm position of New York, is the rock on which they split. Nothing but a suspension of the Bank of England can save the institution from utter insolvency. The banks and regular merchants of New York may rejoice at the destruction of a system which has been the prolific cause of all the disasters and fluctuations which they have encountered in the last five years. The artificial action of the U. States Bank has brought about the anomalous position in which we now are placed. The country is overflowing with produce; trade has been small, and the commercial debt due Europe is not large, and yet the banks cannot find means to pay their debts. This arises from no other cause than the great inflation of paper currency which can no longer be sustained, now broken down by its own weight, and crushing all those who attempted to support it. All others will go through the crisis unharmed. The commercial and financial character of New York will remain untainted while she will become the focus of all the foreign and internal trade of the United States. The stock holders of the State Bank of Boston have voted to reduce the capital of the Bank from $1,800,000 to 1,200,000 or 33 1/3 per cent. The Bank of Grenada (Miss.) is taking measures to wind up its affairs. All the banks in Newburyport have declared a dividend of three per cent. Gloucester three and a half. The following banks in Ohio are either broken or thought to be in an unsafe condition. Beware of their notes:—Bank of West Union; Farmers and Mechanics Bank of Steubenville; Urbana Banking Company; Bank of Chillicothe; Mechanics and Traders Bank of Cincinnati; Manhattan Bank. It is said that the Branch Banks at Lawrenceburg, Richmond and Madison, Indiana, will be arraigned before the next Legislature for alleged misconduct. Sales at the Stock Exchange. $2,000 Corporation Bonds 96 1/2, $1,500 do 96 3/4—85 shares U S Bank 70, 25 do 70 b30ds, 75 do 70, 50 do 70 b30ds, 50 do 70, 50 do 70 tw—20 do Fulton 111—30 do Dry Dock 68 1/2—10 do Atlan 85—25 do Mec Bk Ass 61—20 do Ohio Life & Trust 84—107 do Com 94 1/2, 10 do 94 1/4—10 do Am Ex 75—320 do Del & Hud 53, 75 do 52 1/4, 300 do 52 3/8, 5 do 52 1/4, 50 do 52 3/4, 125 do 52 3/4 nw, 160 do 53 1/4 50 do 53 nw, 25 do 52 3/4 nw, 15 do 52 3/4, 25 do 52 5/8, 50 do 52 3/4, 100 do 52 3/4 s10ds—180 do N A Trust 44 1/4, 75 do 44 1/4, 25 do 44 1/4 nw, 25 do 44 1/4, 50 do 44 3/8, 25 do 45, 70 do 45 1/2 s10ds—50 do Vicks 32 nw, 75 do 31 1/4—15 do Kentucky 66 1/4, 150 do 66, 25 do 66 nw, 25 do 66, 50 do 66 wed—25 do Illi 60 b60ds—5 do Utica & Schen 117 1/2, 50 do 115 s90ds, 50 do 115 s90after 10 ds, 50 do 115 s90after 15ds—10 do Canton 28, 20 do 27—5 do Mohawk 50, 10 do 49 1/2, 11 do 50, 50 do 49 1/4 s30ds—10 do Patter 50—21 do Bost & Prov 99—2,500 do Ex, Phil 91—100 do Harlem R R 37, 50 do 37 s6ms, 100 do 38 1/2, 125 do 38, 50 do 39 b30, 50 do 38, 50 do 37 3/4, 150 do 37 1/2, 50 do 37 1/2 s30, 150 do 38, 50 do 38 nw, 50 do 38 snw, 100 do 38 1/4 snw, 50 do 38, 110 do 38 1/4—20 do Utica & Syra 105.

2. February 5, 1840 Morning Herald New York, NY
Article from Morning Herald, February 5, 1840

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MONEY MARKET. TUESDAY, FEB. 4-6P. M. The rumor, that the Pennsylvania loan had been taken, and the interest due on the whole debt paid, connected with the favorable Message of Gov. Porter, seemed to create a little buoyancy in Wall street, and a slight improvement was visible in some stocks, although the sales were small. Harlem rose per cent.; N.A. Trust, 1 per cent.; Delaware and Hudson, 1 per U.S. I per cent.; Stonington, 1 per cent. Am. t per cent., and Dry per in this last mentioned a The Ex. cent.; Bank decline declined Bank, mentioned stock Dock is owing Bank few to 3) days want since, cent. of confidence in the directory. We a that there was some excitement on the subject, and strong endeavors were made to effect a change, which was unsuccessful. Mr. Stebbens, who has been almost sole manager, was continued in, with others. It appears that the Philadelphia loan has been taken at par. Mr. Dunlap made arrangements yesterday for an advance to the State of $870,000 on behalf of the U.S. Bank and such of the other Banks as might unite in it, the Girard and Pennsylvania Banks agreed to participate to extent and the interest will be paid. immediately each, amongst which, the of It the however of $100,000 avails Nine have nothing. Let us look at the facts case. of the Philadelphia banks have never acknowledged the necessity of suspension. The United States, and Gi rard banks failed, because the state stocks they held were inconvertible. Governor Porter, in his annual message, stated that the state must fail, unless the money was raised by taxation or new loans-the recommended the latter; the same time acknowledged that the banks were insolIn accordance with his a was created, and could not be was clearly for resumption: the people $870,000 vent. but at recommendation, and sold, the because banks, lend. the On if loan obliged will Tues. for of o pay their n debts, would have nothing to day last the insolvent banksant a committee to Harrisburgh. On Thursday the resumption bill passed the House,by a large majority;on Saturday the state failed, and on the same day the Governor to the Legislature, containing the following pasrigorous a system measures the payment of the sent eage. ed to a coerce "Ibelieve iftoo message liabilities and of will of the be banks seriously be imme- adopt- and diately, the credit of the state must affected." Or in other will lend their irredeemable paper as a means state debt, if they can have own say disastrously ing the they their words. the State the time bank must to committee take resume- of pay- care but if you oblige them to resume, of itself. On Monday the committee returned to Philadelphia, and on Tuesday it is announced that the insolvent banks have taken the loan. It is now perfectly well under if the bill passes, the Governor of remark, also, that the United in Europe $1,500,000 of state pledged stood worthy that stocks, all will issued States that veto the in Bank state it. August It has has is last, for money to pay its own debts. And received is a credit on the books of the bank for $1,000,000 which figures in the Treasurers report as money oa hand." A large proportion of the $600,000 due on Saturday is payable in,Europe, and must be remitted specie, a feat which neither the state nor the U. S. Bank can well accomplish at this moment. STATEMENT OF THE LEADING FEATURES OF THE BANK OF PENNSYLVANIA, ON THE 3RD INST., AS COMPARED WITH THE RETURN OF JAN. 1839. Feb. 1840. Increase Decrease. Jan. 1839. 3,630,205 390,607 4,020,913 Loans, 518 497 21,674 498,823 Specify 595,827 296,410 Circulation, 882,237 374,220 1,420,048 1,045,828 Deposits, We have frequently had occasion to mention the fraudulent issue of post notes by some of the new banks, particularly the "City Trust Banking Company." We will mention an operation, that concera. Persons whose names we have, were cance Fined in the operation of a machine in Clearfield county, ) l' c a carry on the business, they got their notes at the City Trust for post of $900. These they of about $400, when they disposed to discounted the amount remitted lost notes character. at to twelve the agent, in months, conse- who quence of the reports in the Herald. As the agent then came on and discovered that the remittances of the money had failed: he then applied to the City Trust for some security that would enable him to use the notes, which was refused. He was finally enabled to realise about 10 per cent, or $50. which is all he has been able to get. There are many small associations, among which is the Hudaon River Bank, that are preparing a large amount of these bills, for the purpose of inundating Ohio, Indiana, Illinois, and other states with them, for the purchase of produce. Letour western friends be cantious not to touch one of them. They are utterly worthless and fraudulent. RETURNS OF THE *BANKS IN MAINT, FIRST MONDAY OF JANUARY. 1840, AS COMPARED WITH JAN. 1939. Banks, Bills in circui's Deposites. Specie. Loans 5079 58,757 2,003 23,679 Androscoggin, 149,539 Augusta, 4,254 19,142 36,103 Agricultural,

3. January 22, 1841 Jeffersonian Republican Stroudsburg, East Stroudsburg, Milford, PA
Article from Jeffersonian Republican, January 22, 1841

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Resumption in Philadelphia. THE GOOD WORK CONSUMMATED. All the Banks of the City and County of Philadeiphia resumed specie payments yesterday. The affair passed with litle or no excitement whatever; and the demand in the aggregate, was exceedingly limited. Before the doors of the United States Bank was thrown open, a few persons were assembled in the neighborhood, most of them attracted thither however, by mere curiosity. The numbers decreased as the day advanced, and a stranger on passing the Institution, would not have been reminded that the long talked of resumption was in progress. Propably several hundred persons in the course of day, obtained specie for small sums; but all was good humor,nothing like alarm was apparent, and we learn that in several instances, specie that had been obtained from one institution, was found rather inconvemient, and was deposited in some other. The other Banks also paid treely, all demands that were presented- instead of there being any thing like rush, it was remarked that the entrances and exits appeared to be exceedingly limited. The Girard is located immediately opposite our office, and there was no demand whatever upon that Institution. They also all, with the exception of the Commercial, paid out their own notes, and several of them have, we observe, obtained during the suspension, new and beautiful plates-so that their paper is at least more valuable than formerly, in point of appearance. There may he some slight demand Lis-day for small sums in specie; and then every thing will grow perfectly calm once more. We congratulate our citizens on the manner in which this business of resumption has been comsummated, and consider it highly creditable to our community, that the affair has passed off satisfactorily. A little longer, and we trust that business, confidence and prosperity will revive.--Par Inq.

4. February 11, 1841 Herald of the Times Newport, RI
Article from Herald of the Times, February 11, 1841

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From the National Gazetic. FURTHER SUSPENSION. The United States Bank cannot decline alone. We regret to add that the Girard Bank has also suspended specie payments except for its Five and Ten Dollar Notes.Whether-this example will extend further we cannot say-but as there is a panic among all classes, there can be no doubt that all the Banks will be promptly require to redeem their circulation. The distress attending this state of things cannot be calculated. To alleviate it will require the utmost exercise of judgment and temper. P. S. One o'clock--A - the Banks of the City, with two or three exceptions have just suspended specie payments except for Five Dollar Notes. The A/prehension expressed above is thus 11/ready realized.

5. February 18, 1841 Staunton Spectator, and General Advertiser Staunton, VA
Article from Staunton Spectator, and General Advertiser, February 18, 1841

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THE PHILADELPHIA BANKS. Correspondence of the National In'elligencer. PHILADELPUIA, Feb. 5.-Evening. The United States Bank has again suspended specie payments, and it is not considered probable that the others will be able to continue specie payments, and it is unwise in them to strive against their fate. Upwards of six millions of dollars in specie and specie funds have been drawn from the U. S. Bank since the 15th of January, and the excitement at this moment in this city is intense and 11niversal. The panic is complete, & the runupon the other banks is prodigious. It has just been reported that the Girard, Moyamensing, and Manufacturers and Mechanics' Bank, and the Bank of Penn Township have followed the example of the Monster ; also, the Northern Liberties Bank, and Bank of Pennsylvania. And the report is true.

6. January 27, 1842 The New York Herald New York, NY
Article from The New York Herald, January 27, 1842

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Philadelphia. (Correspondence of the Herald.) PHILADELPHIA, Jan. 26, 1842-P. M. Great Excitement-Girard Bank Broke-Other Banks in Danger of a Run - -Probable Discharge of ExCashier Jaudon on Habeas Corpus- The Police. As every body had reason to expect, and as you and I have time and again predicted, the Girard Bank made a final burst up. The notes were first refused by the Bank of Northern Liberties, and shortly after by every bank in the city. The news rapidly spread, and as it spread the crowd and panic in and about the Girard Bank increased. From eleven to three o'clock the crowd at the counter was so dense that it was with difficulty approached. The fives were exchanged for other paper, but all its bills above that denomination were refused, on the ground, as alleged by the teller, that the Bank had not the means of redeeming them. The crowd in the banking room, on the steps of the Bank, and in the street, amounted to several hundreds! The most of the circulation appeared by the offering to be above fives, consequently the loss will be heavy on the community, as it is but fair to suppose the banks took care of themselves by pretty effectually clearing themselves of it. The brokers, it is thought, were not so successful, as the news of the stoppage created such a panic among them at the Board, that it almost immediately adjourned. Somefew shares of Girard sold at $5; State fives sold at $56, an advanee of one on yesterday's sales. The holders of Girard notes were all quiet. I believe that no hostile demonstrations were made against any of the other Banks, though the Bank of Pennsylvania, I frequently heard connected with a fate like this of the Girard. The stock of the Pennsylvania is about 75 per cent. below par, and as It is thought by some that the payment of the State interest on the 1st of February, will bring with it some trouble to it, there is a feverishness in the public mind that would not surprise me to see break out in a panic and a run upon it. You know as well as I can tell you, that no one of our Banks can stand a run. One or two of our other Banks, whose Stocks are most depressed, were also doubtingly spoken of. Guard Bank Notes are sell ing at the Brokers at a discount of 20 per cent for currency. The case of Mr. Jaudon, on habeas corpus, came up last evening before Judge Randal, and after deciding against the reasons which were argued to quash it by Mr. Brewster, a hearing similar to that had before the Recorder was entered into. As you have published this, I think it unnece-sary to repea it. It IS probable that Mr. Jaudon will be discharged. As the evidence against him is much less con clusive than against the others, many think he will be let off. P.S.-I am informed that the Mayor is congre gating his police in order to be prepared for the worst. A crowd of several hundred persons are still hanging about the Bank, but without d-monstrations of any violence.

7. January 28, 1842 New-York Tribune New York, NY
Article from New-York Tribune, January 28, 1842

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171, The Domestic Exchanges are inactive and show uo im. provement. In consequence of the suspension of th Girard Bank Philadelphia, caused by a run upon it, which was induced by the refusal of some of the other banks to receive its notes in deposit. Philadelphia Exchange this morning opened in a panic, and sales were made as high as 10 per cent. discount. A large house however appeared as a buyar, which sustained the market. and at the close of business bills could net be bought at 71 discount. Passengers from Philadelphia this afternoon state that exertions were being made by the other banks to set the Girard Bank on its legs again, but it was Joubtful if any good would result. There was great excitement existing against the Philadelphia Bank. The stock of the Girard Bank sold yesterday at 5. P S. - The Girard Bank suspended yesterday. The Di rectors give the following sta ement of its condition The total liabilities of the Bank at this time, exclusive of its $1,433,692 98 capitalstock amounts to Consisting as follows: Of circulation. known to be in 500,000.00 the hands of other Banks 273.395.00 In the hands of the public 251,195.00 or deposits Of balances due to banks and 409,102 89 bankers 1,433 692.92

8. January 28, 1842 The New York Herald New York, NY
Article from The New York Herald, January 28, 1842

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to These was part of these issued to Stebbins & Mc. Alister. The low price of the Reading Railroad stock arises in a great measure from the indebtedness of the Company The cost of the road was near $6,000,000, nearly half of which the Company owes. The capacity of the road to transport coal to the extent of one million tons per annum is undoubted. The small quantity hitherto brought is owing to the fact that roads leading to the mines, with which the Reading road is to connect, do not run this winter; hence there is no coal to bring. A sale of teas took place to-day, the details of which will be found under the head of "State of Trade"-also some sales of real estate. The feeling in the money market exhibits very little improvement. The banks are disposed to do but little. At the Bank of New York, and others, at which this was discount day, after unusually long sessions of the boards, but very little paper was done. A great deal of distrust prevails in relation to the late forgeries-the aggregate of which may be $60,000. It is mostly of jobbers' ,and auctioneers' paper, a description of which the banks have of late been very cautious, and the losses fall mostly on those brokers and capitalists, who have taken the paper at usurious rates. The feeling in relation to at repudiation" in Michigan is strongly indicated in the vote in the State Senate, rejeeting resolutions in favor of acknowledging the State debt. The resolutions offered by Mr. Fuller, were as follows :Resolved, That it is the solemn determination of the people of this State, asking nothing which is not clearly right,and submitting to nothing that is wrong. to pay all her just debts, and to preserve inviolate the faith of the State, whenever and to whatever extent it may have been wisely or unwisely pledged. Resolved, That the doctrine that might makes right, and that therefore a state or nation may, by virtue of its sovereignty, repudiate an honest debt, is unworthy of the age and of a free people, and wherever else it may have found a response, belongs not to the moral or political code of the people of Michigan. These resolutions were negatived by a vote of nine to five, the political parties being equally divided on the subject. The bondholders can therefore not be very sanguine of payment. The suspension act of last year being repealed, the Bank of Michigan has made an assignment of all its effects. C.C. Trowbridge, Robert Stuart, and John Owen are nominated as trustees. We yesterday stated that theBank of Towanda, Pa., a littlericketty concern, that has failed once a week dur. ing the past year, was again in operation. It appears, however, that it has already utterly exploded. It is very gratifying, to beat last able to record the fact, that the Maryland House of Delegates has passed a bill by a vote of 85 to 15, requiring the banks to resume specie payments, forthwith. The fifth section, which was stricken out before the Bill passed, is that which proposed to give debtors of broken banks the privilege of paying their debts in four years. Some hinta are thrown out that the bill will be killed in the Senate We apprehend, however, that in the present state of public opinion, that body will not dare to give a longer lease to dishonesty. Our letters from Philadelphlefto-day, advise ua of the in final explosion of the Girard Bank. The condition of the bank is represented as follow $800,000 L liabilities circulation, 250 000 Deposites. 500,000 Bank balances, $1,550,000

9. January 29, 1842 The Daily Madisonian Washington, DC
Article from The Daily Madisonian, January 29, 1842

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From the Philadelphia Ledger. FAILURE OF THE GIRARD BANK.-Great Excitement. The grand denouement, which we have as temperately as possible warned the community against for the past fortnight, the stoppage of the Girard Bank, yesterday broke upon our citizens. The Bank of Northern Liberties was the first, we learn, to refuse its notes, and soon they had all taken the same stand. By eleven o'clock knowledge of the fact had reached the street, and, as it spread, the panic and run upon the Girard Bank increased. From the first that institution refused to redeem any of its bills but those of the denomination of five dollars. All of higher amount the teller refused to touch, on the alleged ground that he had not the means of redeeming them. When we say redeem, it is to be understood exchanging other bank paper for their own; there was not a sixpence of specie visible. The crowd in and about the counter of the bank, from twelve to three o'clock, was so dense that it was with difficulty approached. So far as our observation went, no great amount of paper was returned upon it. The most of that presented was of tens, twenties, and fifties, and of course is still in the hands of the community, though being of the larger denominations, the poor are not likely to be SO sensibly affected as if the bills were of smaller amount. It was intimated by the officers of the bank that some arrangement would probably be made for these creditors, but how or what we do not so readily perceive. The stock of the institution has been gradually tending downwards for months, and if any thing could have been done to avert the disastrous result, we have no doubt the pride and energy of its officers would ere this have accomplished it. The current belief is, that liabilities lie mostly with individuals, the banks having pretty generally prepared themselves for the result by liberally paying out its paper for some time past. The brokers, though daily expecting a. failure, were not so fortunate as the banks are believed to be. Several of them are said to be holders of its now discredited paper to large amounts. Its stock sold at the board at $5, and its notes at a discount of from ten to twenty per cent. for other paper.

10. January 29, 1842 The New York Herald New York, NY
Article from The New York Herald, January 29, 1842

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CURRENT RATES OF BANK NOTES AND DOMESTIC BILLS Bank Notes. Exchange. I a 1t Safety Fund 3 a Security Banks Boston I a a New Eugland a 48 a 50 U.S. Bank 6 a 7 Pennsylvania Philadelphia 7 a 71 1 a 61 New Jersey 5 a 5) Baltimore 4 a 4) Maryland Richmond 7 a 7 7 a 7j Virginia North Carolina 6 a 7 North Carolina 5 a 51 5 a 20 Savannah 2: a 21 Georgia 3 a 3 Augusta, 3 a 4 Charleston South Carolina 11 a 1) 50 a 70 45 a Apalachicola Florida Mobile 18 a 15 a 16 Alabama 12 a 15 8 a 9 New Orleans Louisiana Louisville 14 a 16 10 a 11 Kentucky - a 18 Nashville 15 a 16 Tennessee 80 a Natchez - a Mississippi Union St. Louis 8 a 10 14 a Missouri a 17 Cincinnati 13 a 14 Ohio 16 a 17 14 a Indiana 25 a 30 14 a Illinois Detroit 25 a so Michigan The panic in relation to Philadelphia funds, arising from the failure of the Girard Bank, has a little subsided, but it is confidently expected that several others will follow. The following is a table of rates at different

11. February 3, 1842 Litchfield Enquirer Litchfield, CT
Article from Litchfield Enquirer, February 3, 1842

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THE ENQUIRER. LITCHFIELD FEB'Y 3, 1842. CONGRESS.-The House of Representatives, during almost the whole of the past week. has been kept in a feverish state of excitement by Mr. John Q. Adams. He seems to throw more fire-brands into the House than all the other members. The Southern braggarte are constantly throwing out threats of a dissolution of the Union," but the moment a northern a a petition for the a man and purpose, suggests Feries the such of "treachery" whole thing, south and presents is thrown raised.- into blaze, at once Though we are by no means in favor of a dissolution -and would deplore it as a great evil to the nationwe do hope that hereafter when the Southern members talk about and threaten such an event, that the Northern members will meet them with the same cry, and Fee how the South will cower under it.-Men of the most courage are not often great boasters. Bankrupt Bill not Repealed.-We are glad the Senate have put this question to rest for the present. On Friday the final vote was taken in the Senate, and the question upon repeal decided by the following vote Yeas.-Messrs. Allen, Archer. Bayard, Benton. Buchanan, Calhoun, Fulton, Graham, King, Linn, MeRoberts, Morehead, Pierce, Prentiss, Rives, Sevier, Smith of Ct., Sturgeon, Tappan, Woodbury, Wright, Young-22. Whigs in italics-six. Nays. Messrs. Barrow, Bates, Berrien, Choate, Clay of Kv. Clayton. Evans, Henderson. Hunting. ton. Kerr, Mangum, Merrick, Miller. Phelp Porter, Simmons, Smith of In Southard, Tallmadge, Walk er, White, Williams, Woodbridge-23. Locos in italies-two. Absent.-Preston (whig) and Mouton (loco) paired off. Mesars. Dixon (whig) and Bagby and Cuthbert (locos) were also absent. License Question.- - the called Town Meeting of this town, on Saturday last, more than 500 freemen being in attendance, some of whom however did not vote, the question whether 'all electors should be allowed to retail ardent spirits and wine" the present year, was decided in the negative, as follows: Yeas 31-Nays256-mmjority against a universal license 25. This is in accordance with the vote on the sec. ond Monday of January and our Town Records now show the singular fact of two votes for the samie purpose in the same month. Middletown, last week, passed a general license by the vote of 299 to 297. New Haven and Hartford, by very small votes, licensed all electors to retail. Brigade Courl Martial.-During the past week. commencing on Tuesday and closing on Saturday, one of these august assemblages has been in session in this village. It was convoked by the Brigadier General of the 6th Brigade, for the trial of sundry offi13th regiment for disorderly conduct and of orders at the fall. The a very apdisobedience cers of Court the presented certainly officers' review imposing last pearance-composed as it was of some dozen fine looking officers in full uniform. But the proceedings were any thing but interesting to looker on.' The questions of the Judge Advocate, and the answers thereto by the witnesses, having to be taken in writing, verbatim, the progress was necesearily very slow and tedious. What the result of the various trials is will not be known until transmitted to the Captain General for his approval or disapproval.Col. Wm. N. Reid was President of the Court, and E. C. Bacon, Esq. Judge Advocate. Trial and Conviction of Colt.-The trial of John C. Colt for the murder of Samuel Adams commenced in New-York on it e 18th of January, and continued till Saturday last, when at 6 'clock P. M. it was committed to the jury. The jury remained out until o'clock on Sunday morning, when they again re. turned into Court with a verdict of Guilty of Murder Ten of the jury were agreed immediately-the other of the night. The trial excited unCourt room and to it the usual interest-the being the crowded course during whole all time the of avenues the trial, which was indeed augmented towards the close.After the examination of witnesses was closed, and the counsel began to sum up the case, Mr. Emmett, of for Colt. came out a statefrom which could not as ment counsel Colt, effect with be detailed considered the jury, testimony, but intended for upon confessing as to the killing of Adoms, and all the details to it, as proved before the Court, but conidea that it was The thought it veying subsequent jury, the however, done otherwise, in self-defence.- but that was a deliberate murder-and so thought the great mass of listeners to the trial, and those who have read the evidence. The Girard Bank, of Philadelphia, another of Gen. Jackson's pets, bursted last week. It had a large capital. The stock has been very much depreciated for some time, and its bills are now at a large discount. The Bank of Pennsylvania has also had a run, but so far has met all its liabilities. or We understand that the Rev. CHARLES WADS WORTH, recently of this town, well known to many of the readers of the Enquires for his poetical contributions under the signature of Sedley," has received and accepted a call to the pastoral charge of the second Presbyterian Church date Dr. Tucker's) in Troy, N.Y. A letter writer in one of the New York papers, under date of the 25th January. gives the following statement of a circumstance in which one of our congressmen figured conspieuously took place on the avenue this morning two members of B. of Tennessee, and Conwas a matter, and necticut. Campbell, A between rencontre The difficulty Mr. Congress; Herald; small Boardman, but Mr. of W. hardly worthy of notice in the as there will b various and probably contradictory versions of the circumstances published, it may be well to state the facts as they actually occurred Yesterday, in the House, Mr Campbell, in conversation with Mr. Ridgway of Ohio, remarked in substance, that the conduct of the northern whige on the subject of abolition was ungenerous and unjust

12. February 7, 1842 Lynchburg Virginian Lynchburg, VA
Article from Lynchburg Virginian, February 7, 1842

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The names or Mossts. Chapman and were with drawn, and that of Thomas Miller, of Powhatan, was added to the nomination. Lauson. Miller. Guerrant. 76 50 3d ballot 29 4th 90 59 00 There were 4 scattering votes on the 2d ballot, 2 on the 3d, and 5 on the 4th. So that Fabius M. Lawson duly elected Treasurer of the Commonwealth. To-day, the business of the House was confined to the progress of the bills through their several stages. The Democratic Convention assembled at 10 o'clock this morning, and by way of preliminary organization, Maj. Charles Yancey, of Buckingham, was called to the chair, and Messrs. Thomas Ritchie and Richard B. Gooch were appointed secretaries. After calling the roll,-the adoption of a resolution, appointing the delegates and Senators in the Legislature to represent Democratic counties from which no special delegates have been appointed,-and the appointment of a committee to percentmend permanent officers, the Convention adjournwill 4 o'clock this afternoon. Samuel C. Anderson, of P. Edward, strongly remonstrated against the resolution appointing members of the Legislature members of the Convention. He contended that no person had a right to sit in the body, who was not specially delegated by the people. But he was over-ruled. Mr. A. is somewhat a novice in Democracy, and does not quite understand its rules. Among the members of the Convention is Mr. Theophilus Fisk, theeditor of the AntiBank Democrat ic paper here-1 do not know what county he represents; but he is not a city member-a proposition to appoint him a delegate, at the meeting held in this place having been rejected a sort of leftMr. F. will handed blow. find that by the Richmond Democrats are generally bank-men-for the very good reason that many of them are pretty deeply in the books and shudder at the idea of of the Banks, curtailn ents, resumption or liquidation-while he is for destroying those institutions, without regard to the interests of their debtore, root and branch. Should I have time before the mail closes. I will give you an outline of the afternoon's proceedings. The Convention is well but cui boraise "new issues" for the elections, no? It may attended; Spring and create a factitious excitement in the but to their and do not suffer themselves to be by principles, if the dirision, Whigs remain true themselves public and destroyed mind; to our oppouents will hardly gain any thing by the convocation. Sterling C. Anderson, Esq. is, I believe, the only delegate present from Campbell. We have not much of interest from Washington, ex cept the passage of the Treasury Note Bill, as it came from the Senate, by the casting vote of the Speaker, the vote being 100 to 100, on Saturday last. On Monday, the case of Mr. Adams was about to come up. when the annunciation of the death of Nathan F. Dixon, one of the Senators from Rhode Island, caused a suspension of further proceedings. and both Houses adjourned. The distrust occasioned by the failure of the Girard Bank, in Philadelphia, led to a run, on Saturday last, upon the Bank of Pennsylvania, in which the State had deposited $800,000 for the purpose of paying the interon the 1st of It met all until the hour of was that the Bank was to after were made. The est on mands notice any claims its upon debt, given it, however. Bank hours, February. but none prepared closing--and meet deother Banks have adopted a plan of operations, in the existing emergency, which it is hoped will enable them to weather the storm. which some the lower branch Maryland the Banks of of Thebill the Legislature. days ago coercing passed that to resume within of the it is amended the to resume on a SO distant however as State ter be Banks the materially passage specie act, day payments by will, named. Senate-requiring confidently twenty asserted, days the af penable-them and their debtors to prepare for it, but IC

13. February 8, 1842 The Middlebury People's Press Middlebury, VT
Article from The Middlebury People's Press, February 8, 1842

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THE GIRARD BANK of Philadelphia has closed its doors. This has caused great excitement. It was the largest Bank in the city, and one of the greatest in the Union. The next day in consequence of a rumorathat the directors were carrying the property out of the back door, a mob assembled in the alley in the rear. The mayor was present and prevented it by his mild interferance. `Philadelphia is now almost without a currency. The Bank of Pennsylvania has been closed by an injnnction, and all the other banks are hard run. The brokers, and all men of business stand aghast.

14. February 9, 1842 Edgefield Advertiser Edgefield, SC
Article from Edgefield Advertiser, February 9, 1842

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excitement in Princepara, The Girard Bank -Yesterday was day of unusual exeitementthroughoutour community. The doors of the Girard Bank were not opened, and the failure of this Institution seemed to create a pause in business of almost every description. Even the principal brokers were quite inactive, although some few purchased Girard Bank notes in small quantities, at a discount of 15 per cent. All was uncertainly. however, and nothing seemed settled as to rates. appeared pazzled to know of 10 take. many of Shopkeepers whatkin money and and indisposed them were panic stricken. to sell their goods at all. A variety of im probable rumors were in circulation. cal culated to make bad worse. and to scare the timid from their propriety. The Gi. rard Bank is located in Third Street, be low Chesnut, and directly opposit. this of fice. It is a splendid marble building in front, and has a fine yard, It was occu pied for many years 25 a banking house by the late Stephen Girard, and closed HE it was yesterday. with hundreds of curious lookers on about it. the speetacle was indeed a melancholy one. As early as 9 o'clock in the morning, from 100 10 200 had assembled, and the crowd continued to vary in number thro outine day. A few minutes before 9. a gentleman, supposed to be an officer. arrived 10 a cab. The crowd immediately gathered round the vehicle. some harsh exclamations were aftered, and the cab driver very prudently turned his horse's head. and made 11 retreat with his passen. ger. This was the only incident that occurrenduring the morning. having the least appearmice of violence. Occasionally 13 group would become unusually excited at the tale of some peculiar case of hardship: but the indignant feelings of the momen were vented 18 warm and strong language. and this the excitement was calmed. A one time an effort was in progress to enter the yard of the bank in the rear, but it was speedily abandoned on the appearance of the Mayor with a body of police. It was also rumored that the Directors were car rying out the property of the Bank by the back way-incorrectly as we have reason to believe-but this rumor added not a Iii. He to the excrement. The weather was raw and gusty. which had some effect. no doubt. in thinning the number of the crowd. On the whole, however, the feeling was quite as pacific as could be anticipated under the circuitistance. The other Banks pursued the even tenor of their way in quiet. and : is 10 be hoped that this disaster will not extend further. The day. we repeat. was one of unusual excitement, although it was of a suppressed and subdued charactetThe topic in all circles was the failure of the Bank. with its attendant consequences. Bitter curses were occasionally poured forth, and sometimes a was would mingle his voice with the Babel-sounders around him, and by some well-timed willieism. change magnets into north. Bill the subject was found of too painful a character to jest for any considerable period. Resuits like these are calculated to affect the character, and injure the prosperity of our city, and we chronicle them with feelings of the deepest regret.-Philadelphia Inq.

15. February 10, 1842 The Hillsborough Recorder Hillsboro, NC
Article from The Hillsborough Recorder, February 10, 1842

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The Girard Bank and the Pennsylvania Bank, two of the largest banks in the city of Philadelphia, have failed. The Girard Bank had a capital paid in of five millions of dollars; but being intimately connected with the Bank of the United States, it in consequence sustained heavy losses, and a report becoming current that one of its officers was a defaulter for half a million, a run upon it was produced, and it was obliged to close its doors. The Pennsylvania Bank had a capital of 2, 500,000 dollars. Supposed to be in a tottering condition, the other city banks refused to take its notes or checks, and it was obliged to follow the course of the Girard Bank. The other banks of the city and county of Philadelphia, with two or three exceptions, have entered into an arrangement to sustain each other, by forming a safetyfund, to be created by depositing from fifty to one hundred thousand dollars each, according to its capital, in the hands of trustees. In case of default, these deposites are to be applied to pay the defalcation, and the defaulting bank to be thereafter excluded from the arrangement. On the 1st of August they propose to resume specie payments. These arrangements were unanimously adopted by the banks represented, and had considerable effect in allaying the popular excitement.

16. February 16, 1842 The New York Herald New York, NY
Article from The New York Herald, February 16, 1842

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Philadelphia. [Cerrespendence of the Herald] PHILADELPHIA, Feb. 15. The weather to day is cool though clear. In business, nothing is doing-in panic, nothing-in politics nothing-and in fun, fashion and frolic, but little. The most amusing matter in hand just now is the ridiculous conduct of our Legislature. A greaterset of donkies, with two or three exceptions, never were ears. The last bill reported on the sub. ject of resumption, is u broad farce, and has done more to lessen that body in the respect of the peo. ple, than all the weak and wicked conduct in legislation for the past ten years. Petitions are in circulation in considerable numbers, to which a large number of names are attached, asking that body at once to adjourn sinc die. I venture to assert that if these petitions could be presented to every voter in the city and county. so thoroughly arothey disgusted with the last legislative doings, that seven-eights of them would sign them. Some of these petitions are drawn up with signal tact and ability, and the sarcasm of their burlesque eulogy must make certain Senators feel, if they are not as invunerable as a rhinocerous' hide, how supremely ridiculous their ignorance or venality makes them appear. Had the House's bill been promptly passed, as their conduc: for a time warranted the belief, would be the ca e, these members would have returned to their constituents with a popularity rarely equalled. The most of the present ridicule comes from the particular friends of the banks, which, when it is known, may induce the Senate at once to take up the Assembly's Bill and passit through the Senate. The Pennsylvania Bank is besieged to day by an immense crowd of persons, seeking their interest on the State debt, which continues to be paid on the same equitable principles as yesterday, to wit, 1013 to the 100. It was remarked, however, to-day, that the paper paid out in several instances, was more depreciated than that used yesterday-some of It being ten per ccnt below par. The Governor has returned to Harrisburg. The business in stocks to-day was light, at prices even firmer than yesterday. State fives advanced one half, selling as high as 50 in currency, equal to about 47 in specie. Exchange on New York is selling to day at 5 to 6-specie 51 to 6}. Pennsylvania Bank notes 8 to 10 percent below currency; Girard 35, and United States Bank, 50 to 55. It is roundly asserted here, that the officers of the Tow anda Bank, are doing all that they can to discredit the issues of the institution, and at the same time buying them. This is modern finan. ciering. am informed that some steps have b en taken in the Court of Common Pleas, to forfeit the charter of the Girard Bank. At the Che nut street Theatre, Miss C. CushIX an, Mrs A. Selton, and Mr. Chippendale, spear to night. These with the other talent attached to the establishment, should give it good audiences. A resumption town meeting is called for Thursday evening at the county court house. There will be some strong expression of opinion there, and perhaps some fun. It will doubtless be very large. - the -

17. March 20, 1842 The New York Herald New York, NY
Article from The New York Herald, March 20, 1842

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$8,724 do Do do The merchandize in 1840 1841 131,371 0 The nett profits of the companies for the past year, after discharging the interest on all their loans, amount to $215,116 79, or a profit of 7.42-100 per cent. on the capital stock of both Canal and Railroad, which sum has been derived elmest wholly from the operations on the Railroad. Disbursements to large amount were made for objects and purposes of an unusual character, not likely to occur again for many years. Particular attention is called to the increase on the amount of merchandise transported, in the year 1841, showing an excess over this the previous year of 8,372 tons, and a receipt from source of $50,576 82. The Girard Bank of Philadelphia having made an 22. of its effects, we annex the main features of signment the instrument having stricken out the legal repetitions. Thisindenture made the sixteenth day of March Anno be thousand eight hundred and forty-two, Domini, the one Girard Bank in the city of Philadelphia, Common. a tween chartered under the laws of the corporation Pennsylvania, of the first part, and Charles S. wealth Charles of Rugan and Henry Hern of the Bank same in city, the Boker, part. Whereas, the said Girard embarof the second being largely indebted and city of desirous of distributing their are creditors. Now this rassed their Philadelphia, indenture estate witnesseth Philadel equally among The Girard Bank in the city of Henthat the said, said Charles s Boker, Charles Rugan and all and phia, the delivered, 4.c. to them, the ry Hone, tenements, &c., and and personal, of them the said second estate, real that the said party of singular nevertheless, the have lands, assigned, generally Corporation. granted, the all and In trust the real estate hereby for part shall enter and upon convey the same in fee simple or sell, any less estate by public for the sale, same, for the for best cash or on credit be gotten dispose or obtained of most expedient; and give price that receipts can for the from all as to them may seem money which shall entirely discharge for the the application of such sales purchase shall be money, made, to receive the the purchaser purchase or such purchasers accountability and in the meantime and issues until aud income of such real received. estate, and And pay as to charges rents, thereon out viz: of the to rents take such so possession thereof and the personal estate, of the same will allow; and price to sell that can as the nature same at public sale for the best as to them transfer be obtained the expedient; for the same, and for to ask cash demand, or credit, sue for, debts recover, and may seem in all and singular, the due and owing to the discretion of them the receive, moneys collect and get and at the said party of the first part, and hereby assigned; the second part to compromise or compound of the sesaid party of shall seem to the said party &c.: to the same, and facilitate if it the collection of securities said debts, therefor. cond part to debts, &c;; or take new of the second renew provided such ho wever, that the of said said party debts hereby aspart &c.; shall receive the in notes payment and obligations of said to Bank be signed so to issued, be, and the checks this of time, it drawn to the or credit of drawn on the par value of such such heretofore depositors deposite at remaining shall safely at keep the notes, money obliga- per- so tions and checks; and the proceeds of the said real and collected, as well the as rents of the said real estate, herein and de- apsonal estate and and for the uses and purposes all the ply the same is to to say: in the first place to pay this trust: clared; that costs and charges of the executing same rateably and reasonable then to divide and distribute payment and satisfaction of and equally in and owards the and of all notes, bonds, debts bills, all moneys due certificates to depositors receivable in payment said party of of the obligations. deposite issued by the of the con. and certificates of outstanding. In assignments pursuance by Direc: first part, and provisions now relating to Section of the Act ditions Banks and dontained is the of Second the Commonwealth of tore of of the General Assembly twelfth day of March, 1842, specie enPennsylvania, passed provide the for the resumption and for other of partitled An Act to of the Commonwealth declared that the said by the Banks And it is further hereby pay and deduct in poses: the second part, shall receive which they may senparty antisfaction of of all the services cent on and from the full this assignment, one this per rate of pensation nett such der under collections; and approbation provided of the Court of if not, Common shall receive the of Philadelphia, and direct and less Pleas or for greater the percentage county as said Court may section of appoint. whereas, it is provided by that the the second nomination of the And sctof Assembly aforesaid, of any Bank in this common- StockAssignees wealth shall by be the subject Directors to the approbation general meeting. of the Now, holders of it such is decisred Bank that at a it shall be appointment the duty of the as said therefore, party of the second part, if of their by the stockholders assignees shall not Girard be approved Bank in the city of Philadelphia meetin, of the said, The meeting ; and if the said to con at their next general shall nominate other said assigneest party of the of stockholders vested in them the they may vey the part premises by these presents (except so far of as the trusts second have disposed of the unto same such in assignees pursuance so appointed declared. by herein declared) to for andupon the unfulfilled trusts hereby at the date sea's have said such of it meeting. conveyance. as hereunto the the seal same of interchangeably shall the In said witness remain party whereof, of set the their first the part, said hands parties being and

18. March 26, 1842 Sunbury American and Shamokin Journal Sunbury, PA
Article from Sunbury American and Shamokin Journal, March 26, 1842

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Broken Banks in Philadelphia. The following list of Banks still occupy their banking houses in this city, but their business is suspended, and their capital may be considered out of market. We annex their locations with the capital of each institution : U. S. Bank, located in Chesnut street $35,000,000 above Fourth, capital Schuylkill Bank, corner Sixth and Market, 1,000,000 Girard Bank, Third below Chesnut, 5,000,000 Pennsylvania Bank, Second below Chesnut, 2,500,000 500,000 Penn Township Bank, Sixth & Viee, Mechanics' Bts, Third above Chesnut, 1,400,000 Manufacturers' and Mechanics' Bank, 600.000 Third and Vlne, 250,000 Moyamensing Bk, Second & Chesnut, $46,250,000 Total amount of capital,

19. April 19, 1842 The New York Herald New York, NY
Article from The New York Herald, April 19, 1842

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Philadelphia. Correspondence of the Herald.] PHILADELPHIA, April 18, 1842. I have never known a greater dearth of matters of local interest than the present. And as if to make our city appear more stagnant, for the past two days all business, including church going, has been cut off by an anpleasant north east storm. So far as I can learn, the copious shower of important foreign news has had little or no effect upon prices. At the stock board to-day, the whole business was comprised in fifteen shares of the broken Manufacturers' and Mechanics' Bank, and fifty three shares of the United States Bank-the latter sold at $3, an advance of 1/ Wilmington Railroad and State Five's fell off. The discount OK the paper of our broken city banks is not so high as formerly-the improvement is attributed to the ease and relief experienced in the money market. You will find in the North American of this morning a statement of the appraised value of the assigned assets of the Girard Bank. By it the assets, it will be seen, considerably exceed the bank's liabilities, except to stock. holders-and in every case where the market value could be ascertained, the appraisers have underestimated. Notwithstanding this it is not believed that the bank can make one side balance the other-so great is the loss and difficulty of collecting debts. Forrest had a good house for his benefit on Saturday night, and both he and Miss Clifton have been re-engaged for three nights more. The unpropitious state of the weather has induced De Begnis to postpone his concert to-night. LATEST FROM TEXAS.- - A gentleman who left Bexar on the 21st ultimo, informs the editor of the Houstonian that tranquilityis completely restored in that section. Gen. Burleson, with a large force, was at Bexar, and intended to march in a few days for the Rio Grande. The r mor that Col Moore, with his volunteers, overtook the rear guard of the retreating Mexicans, is contradicted. Although the Mexicans had but six hours' notice that Col. Moore was advancing to attack Bexar, they retreated so precipitately that even the spies could not overtake them Such was their alarm that they fled six y miles before they ventured to encamp or even make a fire. The Milain Guards and many of the volunteers from the counties east of the Brazo3 whoard not mounted, are returning to their homes.-N O. Pic. IMPO: TANT MILITARY MOVEMENT.-We under stand, says the St. Louis New Era, that orders have been received from Head Quarters of the Army, directing the immediate march of the 6th Regiment United States Infantry from Jefferson Barracks to Fort Smith, Arkanzas. Five Companies of the 1st Regiment of Drageons, are also ordered to the same destination ; and one company of the 1st Regiment United States Infantry is ordered from Forts Crawford to Leavenworth. We do not understand these movements. Our accounts from the neighborhood of Fort Smith are to the 18th ult, and no intimations are given of disturbances with the Indians in that quarter.

20. January 27, 1844 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, January 27, 1844

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10 For sales at the Stock Exchange, & First Page. FRIDAY P. M. The sales were to fair extent, and prices generally firm, without material improvement in any description, excepting Vicksburg, which went up to 8 per cent. In relation to the decision of the Chancellor of Mississippi alluded to vesterday as the cause of the rise in this stock, the Philadelphia Ledger savs: The effect of this assignment. it is said, is to cut off certain large creditors of the institution, the Girard and United States Banks of this city, which sought to come in first, and to place all the creditors on the same footing. If the claims of these creditors are allowedat all. we are not able to see how the mere change of position, whether they are first or last, can effect the price of the stock-such a change might affect the price of the bills and other credits of the bank, but as all such debts as these have to be paid before the shareholders, who come in last of all, can claim any thing. we are not able to understand why the stock should be worth more after than before the decision. provided, as we before remarked, the claims of these institutions are allowed at all, which We presume they will be. There is, however, another view of this question, which is that this decision puts the stockholders on the same ground as the creditors, the assets to be shared equally. This view explains why the stock should now be worth more than before the decision. The property of the concern is very valuable, however it may eventually be divided. In Exchanges there is not much doing. Sterling is 8 a 9 prem.; Francs 324 a 530. The money brokers are just complaining of the stagnation of their business, while the stock brokers are full of activity. Money is more plenty, but the rate of interest is larger than during the fall. The property No. 2 South-st. 40 feet frt on South and 28 feet on Front-st. belonging to John Johnson and son, has been purchased by an extensive flour house at about $45,000. The property occupied by Allen & Whittlesey on South, three doors west of Coenties slip sold at auction for $29,500. The Leather Manufacturers' Bankhas declared a dividend of three and a half per et. for the last six months, payable on the 1st of Feb. D. B. Goodwin has been appointed Cashier of the Bank of Waterville, in place of J. Bacon, Esq. resigned. The Phil. Centinel saysthat a manifest disposiprevails among the members of the Legislature, to provide withoutdelay, for the regular payment thereafter, of the interon the State debt. bill 10 conformity with the recome mendation of the Governor's Message. will be introduced with as little delay as practicable and it is supposed that the money now raised for the public schools. will also, for the present, be directed to the same object. The resolution introduced into the Senate of Fennsylvania, a few days since, in reference to the Girard Bank, will, it is understood, receive the favorable action of the Legislature The object of the resolution is to remove auv difficulties in the way of a resumption, which may be supposed to have created by the art of assignment." The following sales of Stocks were made at Boston: 28 shares North Bank, 921 per cent; 15 do Boston and Maine Railroad, 3 per cent adv; 22 do Boston and Worcester Railroad, 10) per cent adv; 7 do Western Railroad, 511 per cent: 12 do Fitchburg Raelroad, / per cent adv; 7 do Boston and Providence Reitroad, 42 per cent adv: 40do Traders' Bank, 894 per cent: 10 do United States Insurance Co., $60. per share of 50; 6 do Massachusetts Fire and Marine Insurance Co. per cent adv; do City Bank ad 96 per cent; do Atlas Bank, 95 ercent; 10 do Granite Bank, 93 per cent; 21 do Eastern Railroad, sold at 42 per cent adv; $1000 United States pro cent Stock, payable 1853, with coupons attached 21 per cent advance Receipts for third week in January, over the 1813 1814. Western Railread. $3,097 $3,617 Passengers 3 926 4.657 Freight $8.274 $7.023 Total last The !reight trains from Albany were not run regularly week. and the excess will come into this week. The following are the receipts over the Worcester Railroad for 1843 and 1812: 1813. Increase 1812. $8,693 $265,047 $275,110 Passengers 49.022 226 674 275,696 Freight 23,047 3.480 19.567 Mail, &c $573,883 $61,195 $512,688 Total The following synopsis of the Report of the State Treasurer of Pennsylvania is from the Pittsburg American: $39,290,000 4 State Debt 1,952,187.23 Annual interest Value of the Public Stocks. Stocks in various turnpike road companies of $1,509,412.00 the State 492,555.50 Stocks in canal railroad and navigation cos Invested in the Pennsylvan canals and railroad 30,600,802 18 constructed by the State $32,602,799.74 Total The amount of State scrip canceled in the last $508,000.00 nine months was 1,639,364 00 The amount vet remaining to be canceled is The estimated expenditures of the year 1814 be 13,250,187 23 makes at The estimated receipts of the same period, allowing $1,100,000 from the canals, railroads and motive power, and $1,000,000 to be raised by di2,599,666.91 cttaxes, is $650,520.32 Leaving to be raised a balance of And this is beside provision for canceling of Relief notes or scrip. The taxes on land in 1811, 42 and '43 amount to $2,021,307 32 1.073.840.00 The whole amount collected 1st Nov. 1813, was $947,467.32 Leaving balance uncollected of The Treasurer proposes. rather hints, as the best means of raising the deficiency, the following: 1st. A 'moderate tax' on coal. 2d. Leasing surplus water on the canal 3d. To raise a sinking fund; but the Treasurer expresses doubts about where the sinkers are to come from, which is decidedly the most judicious remark he makes on the finances 4th. A moderate tax on estates of descendents of dead men. 5th. Might not the State be relieved from paying the Port Warden of Philadelphia?

21. February 9, 1844 The New York Herald New York, NY
Article from The New York Herald, February 9, 1844

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DEPARTED WESTWARD. Groceries, pounds.349,876 Hides pounds. 41,050 Merchandise, do .585,246 Oils, gallons... 4,537 Number of cars cleared, 1816. Amount of tolls received, $10,535 27. This railroad will in a short time be materially injured by the efforts made to attract freight down the canal to Havre de Grace. Merchandise, coming over the Columbian Railroad, on its way from the west, leaves the canal at Columbia, instead of continuing down to Havre de Grace. The enterprising citizens of Havre de Grace are about removing the bar at the entrance of their harbor, that now obstructs navigation, and contemplate building a line of vessels to run between their port, New York and Boston, on the Ericcson-propeller principle, to ensure the rapid transportation of produce to all parts of the Atlantic coast. By perfecting these arrangements, a great deal of the western produce that now finds its way to other markets through Philadelphia, over the Columbian Railroad will be diverted to the port of Havre de Grace. The official report of the Girard Bank of Philadelphia makes one of the richest exposures we have seen for a long time, if we except that made by the receiver of the Commercial Bank in this city. The committee of investigation appointed by the stockholders, say that "they do not consider it within their legitimate province to put a value upon the assets." The debts of the bank do not exceed $338,000, $60,000 of which is disputed. The whole amount of debts due the bank on the 20th of Jan. 1844, was $1,073,999, for the security of which the assignees of the bank hold, besides the responsibilities of the signers and endorsers as collateral, stocks in more than two dozen worthless corporated companies, which were doubtless valued at several millions, but which are not actually worth at this moment more than ten per cent of their first cost; as for the responsibility of the signers or endorsers, it is not worth a rush. Among the assets we notice bonds of the North American Trust Company, for $415,000; certificates of debt of the assignees of the Commercial Railroad Bank, Vicksburg, $403,000; Vicksburg Bank stock, Planters' Bank stock, Texas bonds, and a host of others of a similar sort. All the real estate the bank owns is valued at $62,601. The report of the Commercial Bank of

22. April 30, 1846 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, April 30, 1846

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Some difficulty is experienced in getting remittances from the various points, and drafts on this and other Atlantic cities command an unusual high premium. At some of the Western and South-Western points no exchange can be had; and the specie as a consequence, begins to flow this way. This scarcity of Eastern funds will be the means of bringing forward the produce of the West with great rapidity, and this disjointed state of exchange will be of short duration. The export of Cotton Goods from this port from 1st to 28th April have been 3443 pkgs. The Brooklyn (L. I.) Fire Insurance Co. have declared a dividend of four per cent for the six months ending Nov. 1st, last, and a farther dividend of four per cent for the six months ending May 1st, next, in all 8 per cent, payable May 10th. The Union Manufacturing Company, Maryland, has declared a dividend of ten per cent on its capital stock. The Girard Bank of Philadelphia is about to resume business. The Boston Courier says Money has been decidedly easier within a few days past, and the mercantile community have nearly recovered from the panic which was caused by the recent agitation of the Oregon and Sub-Treasury schemes. The Banks are again discounting liberally, and as a natural consequence, the demand for money is more limited than it has been for some time past. The products of the Western States are coming freely to market, equalizing the exchanges, giving new life to business, and adding largely to the receipts of the great lines of intercourse between the lakes and the ocean. The route between Boston and Albany has thus far done a business, this season, of full twenty-five per cent increase over that of the same period of last year, exclusively of the additional income derived from the night passenger trains, which are averaging one hundred tickets both ways. The sale bill of the Southern (Mich.) Railroad now only wants the Governor's signature. The Michigan Senate has passed a bill to suspend indefinitely the provision of the Butler act requiring taxation for the payment of interest on the State debt. The reason given out is, that the interest has been fully provided for by the sale of the Central Railroad. The House has chartered a Railroad from Kalamazoo to Grand Rapids. A bill has been introduced in the Senate to repeal the charter of the Bank of St. Clair. The Miners' Bank, Pottsville, Pa. has made arrangements to redeem its notes at par in Philadelphia. It is said that the Manufacturers' Bank, Nantuck-et, will again resume business, and pay its notes in full. The Canal tolls at West Troy for the first six days of navigation were $27,270 against $27,841 same time last year. The clearances were 333 against 301 and the merchandise cleared 19,369,300 lbs against 15,068,500 lbs.

23. September 2, 1846 The New York Herald New York, NY
Article from The New York Herald, September 2, 1846

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# MONEY MARKET. Tuesday, Sept. 1-6 P. M. Notwithstanding the favorable advices from Mexico, and the probable speedy settlement of our difficulties with that government, there was a decline in the stock market. Harlem fell off ½ per cent; Norwich and Worcester; Reading; Long Island and Morris Canal left off at yesterday's prices. The sales were not large, and we attribute the decline to the fact that the accounts alluded to above, were not generally believed, the way they first came to hand being very unsatisfactory. If it is confirmed, there must be an immediate improvement in the stock market; and if it results as anticipated, there will be one great cause of the present depression removed. The books for subsciption to the capital stock of the Hudson River Railroad were opened to-day, at No. 6 Wall street. The Canal Bank of Albany has declared a dividend of three per cent. The Girard Bank, of Philadelphia, resumed business a few days since, in its banking house in that city, upon an availabie capital of about two hundred thousand dollars, with the annexed board of directors. BOARD OF DIRECTORS-GIRARD BANK, PHILADELPHIA. Charles S. Boker, J Bingham, James Harper, W H. Reid, S. Hood, Thomas Prichett, Edmond Wilcox, Wm. M. Muzzey, John G. Whelan, R. Lukens, S. C. Ford, A. H. Julian, W. M. Han sell. Those acquainted with the business men of Philadelphia, will see that the board is composed of some of the best merchants of that city. Six of the board are extensively engaged in the dry goods trade, and the character of the board throughout is such as to give the public great confidence in the institution over which they preside. The vicissitudes this bank has passed through-the immense losses it has experienced in its capital, and in its other assets-the rapid depreciation in the value of its property-and the immense amount of its liabilities, which have in nearly every instance been paid in full, guarantee a more favorable result in the liquidation of its remaining liabilities, and a more favorable resumption o business than its most sanguine friends have anticipatedf Commencing business with an available capital of two hundred thousand dollars, and assets varying in value from three to five millions of dollars, it does so under auspices the most flattering. It will be much easier to realize on the remaining assets, when the bank is in active operation, than when it was in the hands of trustees. The debtors of a bank, as well as those of an individual do not make that effort to pay up, when that bank or that individual, is in a state of suspension, as when their creditors are engaged in active business. The Girard Bank will have much greater facilities for the collection of its assets and for the settlement of claims now, than it has even possessed; and we have no doubt the directors will realize a much larger amount from their assets' than the trustees would under the most favorable circumstances. In making this assertion, we do not wish to be understood as detracting an iota from the credit due the trustees for their successful management of the affairs of the company, as we think they are entitled to the thanks of the stockholders; but the position the bourd of directors occupies, gives them much greater facilities for realizing on the assets of the bank, than the trustees enjoyed. The original capital of the Girard Bank was five millions of dollars, composed of one hundred thousand shares at fitty dollars each. In the liquidation of the affairs of the bank, since its suspension, the trustees came into possession of thirty five thousand shares, leaving afloat sixty-five thousand shares, the market value of which, at the present time, is about ten dollars per share, representing, at this rate, a capital of six hundred and fifty thousand dollars. There is very little doubt but that a much larger sum than this will be realized out of the assets of the bank, independent of the cash and available capital the institution has commenced business upon. The sock is permanently held by those who have great confidence in an ultimate improvement to some extent, in its real value as an investment; and there is, therefore, very little floating about in the market. The board of directors feel much encouraged, and have full faith in eventually establishing the bank upon a better basis than it ever before enjoyed. The experience of the past seven years' purchase so dearly, will be very serviceable in regulating the operations of this institution, and there is, therefore, very little danger of its progressing too rapidly, or adopting a course likely to lead it from the regular and legitimate business of banking. We have more confidence in banking institutions properly revived, those which have saved a moderate capital from the wreck of a large one, and resumed business upon it; than we have in hundreds of the new concerns which have been chartered within the past three years, and no one knows, out of the banks, whether they have in fact any capital or not, the chances being that they have not one-half, or perhaps one-quarter, of the capital represented. It may require a little time to get the Girard Bank once more fairly and successfully under way, but it must, before the lapse of many months, take its rank along side the other banking institutions of Philadelphia. Its business, since the resumption, has been to a very fair extent and is steadily increasing. The returns of the Canal and Banking Company of New Orleans, for the week ending the 17th of August, make the following exhibit. CANAL AND BANKING COMPANY OF NEW ORLEANS. Cash Liabilities. Circulation. $765,830 00 Individual depositors. 1,140 924 86 Wm. Selden, Treasurer of the United States. 690,366 37 Due distant banks for collections. 127,532 43 Total. $2,724,653 86 Cash Assets. Specie. $1,670,178 42 Paper payable within 90 days. 809,305 50 Foreign and domestic bills of exchange. 644 792 12 Paper payable in over 90 days, &c. 430.812 51 Total. $3,555,199 55