PHILADELPHIA BANKS.
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The Banks of the City and County OF
Philadelphia assembled by delegates on
Saturday evening, organized by appoin-
ting


J. READ, Esq. President.


JOSH. JONES, Secretary


There were in attendance, delegates
from the following Institutions.


The Philadelphia Bank, the Mechanics
Bank, Farmers and Mechanics, North
America, Commercial, Western, Penn
Township, Manufacturers aud Mechan =
ics', Southwark


The following Banks were not repre-
sented, in consequence of not having re-
ceived timely notice:


The Bank of the Northern Liberties,
the Moyamensing Bank, the Kensington
Bank.


On motion of Mr.. Dundas, oft Com
merclal Bank, an arrangement to the fol-
loving effect was agreed upon, subject to
the decision of the respective Boards, at
special meetings, to be held this morn
ing:


1. The Banks to issue their own notes
exclusively, of the denomination of $40
and upwards.


2. The Banks to make daily exchanges
with each other.
3. Balances to be settled weekly, or Of
teneI, at the option Of the creditor bank;
to be paid in specie, or up to the 1st OF
March, in commercial bills not having
more than Is days to run;-aIler the Isl
of March, not exceeding 30 days TO run;
to be approved by the creditor bank anC
guaranteed by the debtor bank.


4. A safety fund is also to be created
thus:--the banks of largest capital are tc
deposit 100000 each, and those of t
smaller capital, $4,000 each,in the hand.
Of Trustees, each bank to choose ont
trustee, and the whole to a form board
The above sums to be in specie, Treasa
ry notes, or equally satisfactory security
On the default of any bank, the Trustee.
to have power to convert the security te
such an extent as to pay the delalcaiion
and the delaulting bank to be therealle
excluded from the arrangement.


3. To resume specie payments on tn,
lst Of August.


After the adoption of a few further re
solutions not Of general interest, the dele
gates adjourned.


We may add, that the Bank of Penn
sylvania was not represented.-PennSyL
rania Inquirer.