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THE STATE BANK AND MEssRs. F. SHAW & Co.-As this transaction has become as familiar to the public mind of Mobile, as if It had been discuss sed in the newspapers, deem it proper and feel great pleasure in being able to copy the following ac- count of it from the money article of the New York Herald The statement that the bills had been paid, corroborates what we had previously heard. We thank God, that for once, in these piping times of rascality, rumor has done injustice to the cha racters of several upright men.

 c. A letter from our correspondent at Mobile, pub Iished in the Herald of Monday contains statement in regard to some exchange transactions between the State Branch Bank and F. Shaw S1 Go, which is erroneous in many particulars. The exchange alluded to was furnished by F. Shaw & Co., at the solicita- ton of the Bank, drawn at five months, acceptance waived without endorsement, being mere orders for money when in funds. It was the express understand ing with the bank, that bale Of cotton would be shipped to Liverpool. It was all shipped to N York and has been held here waiting turn m the market. change in the management of the bank took place, and the arrangement entered into with F. Shaw & Go. entirely disregarded The bank commenced drawing its agent, J. Palmer, of the Merchants bank here at sight, giving him orders to draw against the irregular bills forward to Liverpool, and this without noticing Mir. Shaw in any way. That gen. teman discovered what going on, after having been in this city thirty days, and immediately made arranse ements to take up the biIls which was done, although they do not mature until August next, and consequently could not have been protested. The operation has been closed with arrangement on the part of Mr. Palmer that the matter should be left to disnterested parties for adjustment in regard to the damages sustained by Messrs. Shaw & Co. We will take up this subject of the Mobile bank in few days again.