Bank, Chesnut street near Third street. Shut on Christmas, first of January, Good Friday, and fourth of July.

Since the abolition of the national bank, the deposits of the United States are made in this bank, and in the bank of Pennsylvania. The State owns stock to the amount of 85,000 dollars in this bank.

Discounts at all the banks are made for sixty days on endorsed notes, at an interest of one half per cent for thirty days. Notes are presented the day before discount days. If some plan were adopted to accommodate those who possess good notes, at three, four, or six months; or those who have property that cannot be immediately converted into cash, trade would not only be greatly benefitted, some of the evils of banking lessened, but above all, the practice of usury, which prevails to a disgraceful degree in most of our commercial towns, would be much diminished.

Insurance Offices.

An Insurance office for shipping was opened in Philadelphia, so early as 1720, by John Copson. Joseph Sanders afterwards kept an office for the same purpose. In 1762 William Bradford printer, opened a marine insurance office in company with an able accountant, John Kydd, and continued it until about the revolution. Others succeeded in the same line during the war, and after the peace until the year 1792, when a company that had associated upon a tontine principle, agreed to employ their capital in insuring property. They obtained a charter under the name of the "Insurance Company of North America," in 1794.

Their capital is $600,000. Shares $10.

The operations of this company were confined for some time to marine insurances; but for several

years past they also insure houses from loss by fire; and ships, while building.

There are fifteen directors.

President, John Inskeep. Office, 40 Walnut street.

Insurance Company of Pennsylvania.

The Insurance Company of Pennsylvania, was incorporated in 1794, to 1815, with a capital of 500,000 dollars, in shares of 400 dollars. There are thirteen directors: stockholders must be citizens of the United States to be eligible as a director. To vote by proxy, stockholders must be actually residents within the United States; and no stockholders may have more than twenty-four votes. Once in two years, the directors shall lay before the stockholders, at a general meeting, an exact statement of the affairs of the company. The real estate is confined to such buildings as shall be requisite for the accommodation of the company, in relation to its business, and such as shall have been mortgaged to it by way of security, or purchased upon judgments obtained for such debts.

President, James S. Cox. Office, corner of Dock and Walnut streets.

Dividends, February and August.

Union Insurance Company.

Incorporated 1804, until 1815. Thirteen directors, chosen on the second Monday in February. Capital, $500,000. Shares, $100.

The clear yearly income of the real estate, is not to exceed $10,000. None but resident citizens of Pennsylvania shall vote as proxies. No stockholder shall have more than twenty votes: and, to be a di

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rector, must hold ten shares. $50,000 may be loaned to the state, or its funds may be invested in real estate within the city or county of Philadelphia. Office, 45 Walnut street.

President, George Latimer. Dividend, February and August.

Phenix Insurance Company,

Was incorporated in 1804, until 1815.
Capital, $600,000. Shares, $100 each.

There are nine Directors. One half of the capital consists of shares in the stock of the Insurance Company of North America. Capital invested in bonds, must be secured by mortgages or sufficient real estates within the city and county of Philadelphia: a part of the capital not exceeding $60,000, may, with the approbation of a majority of the stockholders convened for that purpose, be loaned to the state of Pennsylvania. They may also sell all or any part of the stock of the said incorporated insurance company, which may be transferred as aforesaid, and invest the proceeds thereof in the manner herein directed. The real estate must not exceed $10,000 clear annual income. Stated meetings of the directors are to be held once in every fortnight. Stockholders are not allowed more than fifteen votes each. No stockholder indebted to the company shall make transfers, or receive dividends, till the debt is paid or secured. A general meeting of stockholders is to be held on the second Monday of December. Proxies must be held by a citizen of Pennsylvania. Office, 96 south Second street.

President, David Lewis. Dividend, June and December.

Delaware Insurance Company,

Was incorporated March 1804, to 1815, with a capital of $500,000 divided into shares of $100 each, payable, one fifth in bank stock, and four fifths in specie. $50,000 may be loaned to the state. Stockholders not entitled to more than fifteen votes. Directors must be resident citizens and holders of ten shares. There are fifteen directors, chosen the second Monday in December.

Office, 42 Walnut street.

President, Thomas Fitzimons. Dividend, June and December.

Philadelphia Insurance Company,

Was incorporated in March 1804, to 1815, with a capital of $400,000. Shares, $100 each. Thirteen directors, each of whom must hold ten shares. No stockholder indebted to the company shall receive or transfer a dividend, till the debt be paid or secured. No corporation except the company, shall directly or indirectly hold any share in the capital stock. Election on the first Monday in January. Income of real estate not to exceed $10,000. Stockholders not entitled to more than twenty votes.

Office S. W. corner of Walnut and Second streets. President, Samuel W. Fisher. Dividend, June and December.

United States Insurance Company.

Capital, $400,000. Shares, $50.

Incorporated, March 1810, until January 1827. The yearly income of the real estate of the company, must not exceed four thousand dollars. Members must be citizens, and to be a director must hold

five shares. No stockholder shall have more than twenty-five votes. There are thirteen directors.

Office, 49 Walnut street.
President, Israel Pleasants.
Dividends, June and December.

Marine Insurance Company.

Incorporated 1809, until 1827. Capital $300,000: divided into 3000 shares, of $100 each. Managed by thirteen directors.

The yearly income is not to exceed 6000 dollars. Capital may be loaned to the state in any sum not exceeding $50,000; or on real estate, within the state. Stockholders and directors must be citizens of the state, and no one entitled to more than fifty votes. A general meeting to take place of the stockholders, on the second Monday in January of every year; they may make rules for governing the affairs of the company. Directors must own ten shares.

Dividends, first Mondays of January and July. President, John Leamy. Office, 47 Walnut street.

Lancaster and Susquehannah Insurance Company.

A company, formed originally at Lancaster, with a capital of $100,000 and with liberty to increase it to three hundred thousand dollars, was incorporated in 1808, to 1816, upon the same general principles as the preceeding, and with like powers; and have established an office or branch in Philadelphia.

The income of real estate cannot exceed $3,000. All disputes with this company must be submitted to arbitration, if required by the claimants for losses. Office, N. W. corner of Second and Walnut streets. Agents, Joseph Smith, J. Carson.