12701. Mechanics Bank (Paterson, NJ)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
state
Start Date
June 12, 1835
Location
Paterson, New Jersey (40.917, -74.172)

Metadata

Model
gpt-5-mini
Short Digest
90653f4e06ed5618

Response Measures

None

Description

Articles (1837 and 1847) state Mechanics' Bank of Paterson was placed in hands of receivers on 1835-06-12 and never paid note holders; no run is described and receivers were appointed, indicating permanent closure. 1847 piece notes attempts to 'resuscitate' the defunct concern. OCR corrected bank name to include apostrophe and clarified 1835 receiver date.

Events (2)

1. June 12, 1835 Receivership
Newspaper Excerpt
The Mechanics' Bank of Paterson, a broken concern, was on the 12th June, 1835, placed in the hands of Receivers, Asa Whitehead, Aaron S. Pennington, Silas Condict.
Source
newspapers
2. February 18, 1847 Other
Newspaper Excerpt
The Mechanics Bank of Paterson exploded some 13 or 14 years ago, and by order of the Chancellor passed into the hands of Receivers... This rotten and exploded concern has fallen into the hands of speculators, and the attempt is now being made to resuscitate and put it in operation.
Source
newspapers

Newspaper Articles (2)

Article from The Herald, April 24, 1837

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Article Text

THE FIRST CALL-MICHANICS' BANK OF PATERSON.-The Mechanics' Bank of Paterson, a broken concern, was on the 12th June, 1835, placed in the hands of Receivers, Asa Whitehead, Aaron S. Pennington, Silas Condict. Since that date no report has been given-no payment of the notes made to the holders. What has became of the assets ? Have Asa, Aaron, or Silas, been shaving at three per ceat with the proceeds? How long is the public to be kept out of their property? Is there any honesty in Paterson ? This is the first call-the second will be louder and sharper. Take heed, sinners. SNOW!-It snowed quite merrily all yesterday afternoon. We do want something to cool in New York. AMUSING CORRESPONDENCE.-Somebody has sent us a curious correspondence between Count Fitzgerald, a distinguished foreign nobleman in this city, and F. Blancard, of the Globe Hotel, relative to certain points in gastronomy, money matters, the pressure, paying of bills, &c. &c. What shall we de with it The Maitre d' Hotel of the Globe is quite a diplomatist, having placed the Count in the vocative. BUTCHERS' MEAT.-The fat butchers of Fulton and Washington markets are kicking up a great noise about the Bull's Head, Daniel Drew, and the forestallers. This is merely a ruse de guerre to turn aside the public from requiring of them a fall in the price of meats. It will not take. The butchers must bring down prices, as well as the bakers, grocers, and flour dealers. The public will not be humbugged by a few windy resolutions about Daniel Drew and the Bull's Head, instead of cheap beef. The butchers can now afford to take off four to six cents. Nevertheless, the public will be satisfied with three eents till May-bat down prices must come. We shall probe this business to the bottom. WESTCHESTER BANK NOTES.-Notes of all denominations on the Westchester County Bank will be redeemed at par at the Merchants' Exchange Bank, of this city. ABOUT IT, AND ABOUT IT.-A new edition of the Letters about the Hudson," is coming out soon. A few choice letters about the ladies would please us better. Why won't the author "about the Hudson" try what be can do about the ladies IT BOWERY BEAUTIES.-If you want to see very beautiful young girls, smiling, rosy, sweet, neat, as good as pretty, go to the Bowery on a Sunday afternoon, when the sun shines and the churches are going in or coming out. That's all. A STATE PRISON OFFENCE.-The Globe calling the Herald an opposition paper. MR. H. RUSSELL, assisted by Mrs. Franklin, Mrs. Scott, and Mr. Edwin, gives a concert at the Brooklyn Lyceum tomorrow evening. Mr. Russell is a popular vocalist, and our friends over the water will be delighted with the entertainment. Mr. Lyons, keeper of Bellevue prison, called on us yesterday morning to correct a statement which appeared in our paper last week, relative to the prevalence of fever in that establishment. Mr. Lyons states there have been but two deaths, (blacks,) and one white (the unfortunate McDoneugh, imprisoned for the attempted murder of his wife) since last fall.The prison is at all times open for the inspection of visiters, and all desirous of doing SO are invited to call. There is at present but one (a negro) on the sick list. OFA gentleman may do an ungentlemanly action but he never fails to make reparation. On the contrary a man who is no gentleman after doing an injury, persists in it, and even adds further insult rather than confese himself in the wrong. D Will the resident physician, or the board of health, tell us how many people have died of the grippe? how many there are who are now sick and dying of the same disease of those who composed the crew and passengers of the ship Florida, recently arrived from Liverpool? Where's the beautiful Miss Grove? We have a delicious and romantic tale to tell of that charming actress. Where is she? THE PRESSURE.-The Bowery, Franklin, and Park theatres are well filled every night. Awful times! How TO LOSE HEADS, BRAINS AND INTELLECT.Take repeated doses of Brandreth's pills. Neither the Booksellers' Festival, nor the semicentennial celebration of Columbia College, are forgotten. By and by boys. The Burning of the Westchester. The following part COPY of a letter received ves-


Article from New-York Daily Tribune, February 18, 1847

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Article Text

SECOND BOARD. $10 51 95 150 Harlem 1,000 Ohio 6s b15 51 do 62 100 100 Reading scrip 83 514/15 Erie 250 Harlem 37+ 519/175 Canton Co do 50 #15 37+ do $30 514175 do 50 b15 37t do do 51/125 350 8 12 N A Trust b30 51โ‚บ do 100 30 50 Farm Loan do 100 anw 51 30 do 450 51 b60 250 do 100 20 Ohio Trust 150 517 do 26 514/150 Long Island do 100 53} 50 Nor & Wor 51) 150 do The Western Railroad Directors have recently created fifteen hundred new shares, under the act of March, 1845, which are offered to the stockholders at par, on the 4th of March next, in the proportion of one new share to every twenty of the old. These shares are entitled to the July dividend. This addition makes the whole number of share# 35,500 at the present time. The Mechanics Bank of Paterson exploded some 13 or 14 years ago, and by order of the Chancellor passed into the hands of Receivers by whom its affairs were settled. This rotten and exploded concern has fallen into the hands of speculators. and the attempt is now being made to resuscitate and put it in operation Bicknell's Reporter says: The Philadelphia money market continues easy. The out-door rates range from 7 to 9 per cent. The Spring trade has already commenced, and the prospect is quite favorable. The recentrise in bread stuffs will advantage the farmers and country storekeepers in the first place, and then the merchants and wholesale dealers in the At lantic cities will experience the benefit. Comparative receipts of the Central (Geo.) Railfor the months of January 1845. 1846 and 1847: