"The panic [caused by the collapse of share prices] culminated in a "Week of Terror," October 17-23, [1847] with multiple banks failing or suspending payments to depositors in the midst of runs."

Reference:
Narron, James and Morgan, Donald P. Crisis Chronicles: Railway Mania, the Hungry Forties, and the Commercial Crisis of 1847 (Liberty Street Economics
https://libertystreeteconomics.newyorkfed.org/2015/06/crisis-chronicles-railway-mania-the-hungry-forties-and-the-commercial-crisis-of-1847.html , accessed 05Nov20)