Buffalo Commercial Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 11, 1844
Location: Buffalo, New York (42.886, -78.878)

Metadata

Model: gpt-5-mini
Short Digest: 741ef5cdd6a0ef18

Response Measures

None

Description

Article (correspondence dated June 11, 1844) reports property sold by the Receiver of the Buffalo Commercial Bank, indicating the bank had failed and was in receivership. No article text describes any run prior to suspension; therefore classified as suspension_closure (suspension/closure with receiver).

Events (1)

1. June 11, 1844 Receivership

Newspaper Excerpt: The principal sales of property that occured here in the after noon of yesterday. were made by the Receiver of the Buffalo Commercial Bank. Amongst the property sold was the American Hotel.... The Receiver's sale was for cash down.
Source: newspapers

Newspaper Articles (1)

1. June 14, 1844 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, June 14, 1844

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Article Text

Public Stock Exchange, June 13. 4412 ope $5.000 N Y 6es, '62 cash 11034 25 she Canton Co do opg 4458 25 cash 993 2,000 Ohio 6es, '60 opg 46 do 10 cash 993 do 5,000 b3 46 1/2 do 10 1,000 Illinois 6es. 70 510 45 b3 46 do 25 cash 45 do 1,000 opg 44 do 25 3,000 Kentucky be cash 105 cash 563 9 50 Nor & Wor 50 shares U S Bank. cash 57 50 do cash 81/2 100 Vicksburg Bk bnw 7.9 250 Long Island do cash 20 81/2 510 78 50 Harlem 41 cash 25 Farmers' Trust =3.75 do 50 cash 43 do 250 cash 45 25 Stonington 421/2 50 do snw 46 230 do $15.41 25 do 515 26 25 Erie R 5342 50 do cash 26 do 10 25 cash 41 1/2 do 530 26% 25 do 50 do 10 41% -60.67 25 Mohawk 620 44 25 do SECOND BOARD cash 401/2 $5,000 Ohio 6es, 60. 30 993. 125 Farmers' Trust Correspondence of Livingston & Co.'s Express, 2 Wall-st. BUFFALO. June 11. 1844. The principal sales of property that occured here in the after noon of yesterday. were made by the Receiver of the Buffalo Commercial Bank. Amongst the property sold was the American Hotel. kept by Hodges: it was purchased by Mr. Nath'l Thayer of Boston, for $31.650: it is built on leased ground. the rent of which 18 about $1,600 per annum. 1 consider this it very capital sale. There was DO falling off in prices from the sales made in the morning: indeed, as the sale drew to a close there was maxifest by an anxiety to purchase. The Receiver's sale was for cash down. The Eagle Tavern at Niagara Falls. together with the foundation built by Rathbun. in 1836. and upon which he was about to erect the largest public house in the Western part of the State, was sold to Mr. Gouraud, the well known Professor of Phreno Meemetechny. This pro perty belonged to the United States Bank and brought $12,150. The arrival of several vessels from the Upper Lakes has thrown quite a variety of samples of Whent in the market Chicago brings 75 it 75% c: Toledo Wheat 81 c. Some 6500 bushels of Michigan City, a very good article, are afloat. but go to Beach's Mill, Rochester: 500 bills Oak Orchard Flour. taken at the mill. brought $3.90; 250 straight brand Michigan $3 82. and 500 bills mixed brands at $375. Corn continues to sell at 35 cents-consequently none can be shipped Eastward for a market. Our exports bv the Canal for the past three days have exceeded the imports considerably. but there is still a heavy stock of property left over awaiting shipment.