Alexandria Daily Advertiser

NORFOLK, May 6.

VIRGINIA BRANCH BANK.

It was a wise resolution of our sagacious legislature, that of twelve Directors of the Norfolk Branch of the Virginia Bank, the magical number nine should be elected from that sect known to be exclusive and genuine republicans, "men of sound republican principles." --well mark the result. It has pleased the President of the United States to appoint Thomas Newton, Esq. Collector of the Customs of this port; and, consequently, it became necessary to choose in his stead a President of the Branch Bank. Two gentlemen were nominated, Richard E. Lee, Esquire, and Littleton W. Tazewell, Esquire; the Directors have voted several times without effect, the board being divided, and each party adhering, with inflexible integrity, to its candidate. The consequence of this pertinacity is that the business of the institution (except the ordinary process of receiving and paying money) is now at a stand ; yesterday was discount day, but for want of a President nothing could be done. The bank has for the present lost half its title : it is an office of Deposit but not of Discount. Since the above was composed, we are informed that Doctor William B. Selden has been unanimously elected a Director, and afterwards President of the Office of Discount and Deposit of the Bank of Virginia.