12748. Princeton Bank (Princeton, NJ)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
May 5, 1841
Location
Princeton, New Jersey (40.349, -74.659)

Metadata

Model
gpt-5-mini
Short Digest
bf55ff602915707c

Response Measures

None

Description

Newspaper items from 1841–1842 list the Princeton Bank (Princeton, NJ) among the 'suspended banks' of New Jersey. There is no mention of a depositor run, reopening, or receivership in the provided clippings. I selected suspension_closure as the most likely episode type given the bank being included in a contemporaneous list of suspended banks and absent evidence of resumption; however, the sources do not explicitly state permanent closure or assignment of a receiver, so the final disposition is uncertain.

Events (2)
1. May 5, 1841 Suspension
Cause Details
Listed as one of the suspended banks in New Jersey; no cause provided in the article.
Newspaper Excerpt
The following is a list of the suspended banks of this State: ... Princeton Bank at Princeton
Source
newspapers
2. January 31, 1842 Suspension
Cause Details
Included in a list/discussion of non‑specie paying banks and suspended banks; no explicit trigger or government action described.
Newspaper Excerpt
Princeton B., $1 specie & specie funds
Source
newspapers

Newspaper Articles (2)
1. May 5, 1841 Jeffersonian Republican Stroudsburg, East Stroudsburg, Milford, PA
Article from Jeffersonian Republican, May 5, 1841

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Article Text

The notes of the non-specie paying banks of New-Jersey, are worth in New-York only 94 cents to the dollar. The notes of those which pay specie are at par or a half per cent. discount. The following is a list of the suspended banks of this State: Burlington County Bank at Medford, Cumberland Bank at Bridgeton, Farmers' Bank of New-Jersey at Mount Holly, Mechanics' Bank of Burlington, Mechanics' and Manufacturers' Bankat Trenton New-Hope Delaware Bridge Co. Lambertville, Princeton Bank at Princeton, Salem Banking Company, at Salem, State Bank at Camden, Trenton Banking Company, Trenton. Sussex (N. J.) Register.

2. January 31, 1842 The Daily Madisonian Washington, DC
Article from The Daily Madisonian, January 31, 1842

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Article Text

Non-Specie Paying Banks. " 1 2 Trenton Banking Co., " 1 9 State Bank, Camden, " 1 5 Salem Banking Co., Mech. & Manu. Bank, " 1 3 Trenton, Farmer's Bank, N. J., " 1 3 Mt. Holly, 1 3 Mech. Bank, Burlington, New Hope Delaware 1 36 Bridge Co., 1 3 Cumberland Bank, " Burlington Co, B., Medford, 1 Princeton B., $1 "specie & specie funds" 4 It will be observed that the non specie banks, (omitting the New Hope and Delaware,) have, on an average, quite as much specie on hand, in proportion to their circulation, as the specie paying banks have. In this respect their condition is much better than it was a year ago. Their circulation has been materially lessened, while their specie has increased.This is the effect of the talk about resumption. The following schedule exhibits the circulation and specie of the suspended banks in Jan. 1841, and Jan 1842: