13672. Bank of the United States (New York, NY)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
state
Start Date
January 1, 1842*
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
92447b4d19b85776

Response Measures

None

Description

Articles (Feb 1842 and Jul 1850) discuss seizure of assets assigned by the Bank of the United States, attachments by U.S. courts, injunctions, and trustees/receivers actions. They describe government seizure/legal action rather than depositor runs; the bank's assigned assets were taken into custody and legal proceedings continued, consistent with a suspension/closure by government action and receivership. Dates are taken from article context (Jan 1842 reporting recent seizures).

Events (3)

1. January 1, 1842* Receivership
Newspaper Excerpt
the assets assigned by the bank U S. have been taken by the Marshal and are now in his charge, and the Merchants Bank ... remsin in her own possession, and her affairs have their customary regularity, free from any judicial interference
Source
newspapers
2. January 1, 1842* Suspension
Cause
Government Action
Cause Details
U.S. court fi. fa. and attachment: marshal seized assets assigned by the Bank of the United States to satisfy government judgment; injunctions subsequently sought and issued
Newspaper Excerpt
the recent measures taken by the United States, in seizing and attaching the assets assigned the Bank of the United States ... Under a fi. fa. ... all the assets assigned by the Bank of the U. S. were seized
Source
newspapers
3. July 11, 1850 Other
Newspaper Excerpt
The Trustees of the Bank of the United States have filed a petition in the Court of Common Pleas ... The Court has given notice to the creditors of the Bank to appear on Saturday, 13th inst. to show cause why said order should not be made.
Source
newspapers

Newspaper Articles (2)

Article from Edgefield Advertiser, February 2, 1842

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Article Text

Miscellaneous. Republican Office, Savannah. Jan. 24, 1842. From Florida. By the arrival of the U. S. steamer Newborn, Capt. McNuity, we have advices from Florida to a late date. The news is not important other- wise than of a cheering nature. Correspondence of the Savannah Rep. Big Cypress Swamp, So. Fa. January 6th, 1842. After Major Belknap routed the Indians on the 25th ult. and replenished our fam- ished haversucks, he divided his command into four divisions for the purpose of cov- ering a greater extent of country at the same time, and renewed the chase in the direction of the Southern coast. The country traversed by these several divi- sions was, even to a greater extent than heretofore seen, covered with water and extensive cypress swamps; but the few fudians here finding that their most ob- scure and inaccessible retreats were now penetrated by the troops, scattered so much as to render their trails invisible even to the practised eye of the Indian guides. I don't believe troops ever labored hard- er, or endured more privation, since the world began. The incessants marching with heavy burdens of provisions, bedding and ammunition, through water and mud, and over jagged and porous rocks, has torn and worn the clothes from their limbs, und the shoes from their feet. There are thir- teen companies of troops traversing this sunken district, charged with ferreting out some 50 lodian men, women and children. If we were tasked to hunt the wild deer from the hammocks, or the Alligators and suakes from the swamps, we might have hope, but, although the campaign has been contrived with uudisputed skill, and exe- cuted with the greatest alacrity and per- severance, the ludians now remaining are so very few in number, as to elude pursuit with the most perfect ease. In my opin- ion, the war as such is already closed. That roving out-laws, red and white, will for years secrete themselves in the ham- mocks and swamps of Florida, 1 do not doubt. Nor that the army, were it dou- bled, or quadrupled, is doing any good here, have I the least belief. Very truly, yours. The St. Augustine News has advices from Tampa to the 13th inst, which state that Col. Worth is still vigorously follow ing up his operations against the Indians. and is very sanguine of capturing the va- rious struggling parties that are now roam- ing about. The schr. Walter M. Capt, Hitchcock. arrived here on Wednesday last, from Fort Pierce. We learn that an expedi tion, with canoes, under the command of Capt. Vinton, left that Post on the 13th inst., for the head waters of the St. Johns. A scout, mounted, under the command of Lieut. Taylor.accompanied by Lieut. Ste- phens, left on the next day, for the purpose of co-operating with Capt. Vinton.-News 22d inst. ### Correspondence of the Baltimore Patriot. NEW YORK, Sunday P. M. One of our brokers was arrested yester- day upon a charge of negociating com- mercial hills, the names upon which were forgeries-about $8000 has already beer discovered-further no doubt will be known to-morrow. There is no truth in the re- port which appeared in one of our penny papers, that a forged check for $5000 had been passed on the Bank of America.- No such thing was attempted at any bank in the city. The weather is now as fine as possible. We had a gale from the westward on Fri- day, which has done damage to the east- ward. The mail due yesterday was de- tained until this morning. I have heard no further accounts of the ship Frankfort. I am afraid she will be much injured. The city was full of rumors yesterday relative to the recent measures taken by the United States, in seizing and attaching the assets assigned the Bank of the United States, which were in charge of Mr. Fra- zier, as the agent of the assignees. We have taken some pains to ascertain the true state of the facts, and our readers may depend on the following: Uuder a fi. fa., issued from the U. S. Court at Philadelphin, directed to the Mar- shal of this District, all the assets assigned by the Bank of the U. S. were seized, to satisfy a judgment in favor of the Govern- ment for $251,000, most of which assets were in the vaults of the Merchants' Bank for safe keeping; and an attachment was issued, under process from the Commer- cial Court of this city, on a suit entered by the United States, for the sum of near- ly two millions of dollars. What is the foundation of the latter claim, we have no idea, and have no opportunity of icarn- ing. Under the fi. fa. the Marshal threatened to seize the assets belonging to the Mer- chants' Bank; which, if executed, would have been a measure clearly unwarranted by law, as the whole stock held by the Bank of the United States in that iustitu- tion was sold in good faith, and the full consideration money paid by the present proprietors. On application to the U. S. Court, Judge MeCaleb at once granted an injunction to stay the proceedings against the Merchants' Baok under the fi. fa; and Judge Watts issued a similar injunction under the at- tachment. In the mean time the assets assigned by the bank U S. have been ta ken by the Marshal and are now in his charge, and the Merchants Bank and all her business and assets remsin in her owa possession, and her affairs have their cus- tomary regularity, free from any judicial interference,


Article from New-York Daily Tribune, July 11, 1850

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Article Text

HARLEM RAILROAD TRAFFIC. 1850. 1849. 1849. 1850. 56,574 44,440 January $27,722 $31.41 May 45,853 June 29,786 36,466 February 28,816 32.666 March. 30,105 $223,563 Total $192,709 April... 33,010 59,375 Excess in 1850, $30,860-equal to 16 PC. The earnings of the last six months of 1849 were $228,500 and should the same rate of increase hold good as has been realized thus far this year, the re ceipts of the six months ending 31st December 1850, will be $265,000, and the earnings for that year $188,500. The probabilities however are that the increase in the coming six months will be greater than during the last, and the gross earning of the Road reach $500,000. Deducting 50 P ct. for running expenses and repairs, this will leave a sur plus of $225,000 for the payment of interest on the debt, which is on the and common preferred about $450,000 stock. The and Dover dividends Extension Bonds of this Company are certainly, considering the amount of property covered by them, a security well worthy the attention of capitalists. They are ten paid from expenses P cent. any surples year beyond bonds, the and running the interest is and repairs, before even the preferred stock dividend is paid. These bonds are now selling at 1031, with 34 p ct. dividend due on the 1st August, being in fact par and interest. None of the Wall-st. Insurance offices, as from as we can learn, lose anything by the Philadelphia fire The Sub Treasury balance continues to increase Receipts day $180,184, Payments $20,781, Balance$2,593,259. A negotiation has been going on between the Secretary of the Treasury and a bank ing house for the transfer of a million of dollars from New-York to New-Orleans. There will be no moving of coin. The Macon and Western Railroad Company have declared a dividend of 82 P share, payable at the Bank of New York, on the 1st of August The Pacific Mail Steamship Company, of which Messrs. Howland & Aspinwall are the representa tives, have declared a dividend of 50 y cent-their frat dividend. This Company started, we believe, witha capital not exceeding $600,000. Ithas since purchased the steamships Unicorn, Tennessee, Cherokee and Philadelphia, for which there must have been paid all of $700,000 The Savings In. stitution of Newark, a semi-annual dividend at the rate of 5 โ‚ฝ ct. The amount of money coined in the New-Orleans Branch of the U. 8. Mint during the last month is $1,205,000, of this $193,000 were coined into half dollars, $7,000 in dimes, $100,000 in eagles, and 705,000 in double eagles. The receipt of gold bul. lion during the same time amounted to 20,000 ounces. A new bank, with Geo. Palmer, Esq. as President, and $175,000 capital, is about to go into operation at Buffalo. The Annual Report of the Rutland and Burling. ton Hailroad has been published. The road is 120 miles in length, and forms a link of the great trank from Boston to Lake Champlain. The expenditures have been $3,661,410, the original estimate having been $3000,000. The entire track was laid in months. The was rix road earnings opened from to 1st Barlington December 8,1849. The January Nett a 31st earnings May have $34,358, been which $57,062, would expenses give dividend $22,704. of little over 1 P per cent. for six months. The receipts at the Baltimore Custom House for the year ending 30th ult. amounted to $996,679, showing an increase over previous years. The receipts in 1849 were $767,553; in 1848, $899,297, and in 1847, $753,438. The receivers of the New Hope and Delaware Bridge Co. appointed by the Court of Chancery of New-Jersey, have given notice to all creditors of the and Bank to present prove their claims at the office of the Receivers in Lamber:ville, within six months from the 1st inst. The Trustees of the Bank of the United States have filed a petition in the Court of Common Pleas of this County, praying for an order of Court in to certain Texas bonds held Wm. S. Wetmore, a regard by be and and the other deposit securities by of sum of money in a place to designated the Supreme Court of the State of New-York, to meet the claim of said Wetmore: and the Court has given notice to the creditors of the Bank to appear on Saturday, 13th inst. to show cause why said or der, as suggested, should not be made. The G.orgia Sentinel has been shown a letter from Maj. Robert S. Hardaway, President of the Girard and Mobile Railroad, who is at present, in company with an efficient corps of engineers, locating the Road. The Major speaks in cheering a terms of the prospects of success. Capt. Aber$ crombie, who has recently been at Washington a City, entertains DO doubt of obtaining a grant of Government the public lands on the route fr the and Mr. Egerton, one of the Directors, resident in 3 the City of New Orleans, speaks confidently of a d cesh subscription of a half a million of dollars ia that r city. With the aid which may be safely reckoned OR from these sources, we think we may reasons. t y predict the speedy accomplishment of this mam. from e moth enterprise. The grading of the road Ginard to the distance of 150 miles has been all ta