13802. Commercial Bank (New York, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
October 1, 1841
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
b654b88aa0e86cb9

Response Measures

None

Description

The Commercial Bank (a Safety Fund state bank) in New York closed its doors in late October 1841 under authority of the Bank Commissioners; a receiver was appointed and the bank remained in receivership with dividends and asset liquidation thereafter. Underlying problems include large defalcations by the cashier and over‑trading/insolvency, but the immediate suspension/closure was effected by regulatory action (injunction). Dates are taken from contemporaneous newspaper reports (closed Oct 25, 1841; receiver in place by Oct 19–27, 1841).

Events (5)
1. October 1, 1841 Other
Newspaper Excerpt
An injunction has been served upon the Commercial Bank, of the city of New York. The doors of the Bank were closed on the 25th for all business. It is a Safety Fund Bank. The Bank ... has over-traded, or loaned too large an amount to persons connected with its management.
Source
newspapers
2. October 19, 1841 Other
Newspaper Excerpt
The Cashier of the Commercial Bank, R. W. Redfield, has disappeared — a deficiency of fifty-six thousand dollars having been discovered in his accounts ... The affairs ... are now in the hands of a Receiver.
Source
newspapers
3. October 19, 1841 Receivership
Newspaper Excerpt
The affairs of the Commercial Bank, it will be remembered, are now in the hands of a Receiver. (R. M. Blatchford later named Receiver.)
Source
newspapers
4. October 25, 1841 Suspension
Cause
Government Action
Cause Details
Injunction served by the Bank Commissioners leading to closure; bank had been over‑trading and in difficulty (not passing at par; large indebtedness to other city banks).
Newspaper Excerpt
The doors of the Bank were closed on the 25th for all business.
Source
newspapers
5. October 27, 1841 Other
Newspaper Excerpt
The under signed hereby gives notice that he has been appointed Receiver of the Commercial Bank in the city of New York ... The Receiver will make a partial dividend among the creditors of the Bank as early as the realization of the assets ... R. M. BLATCHFORD, Receiver.
Source
newspapers

Newspaper Articles (15)
1. October 1, 1841 Richmond Enquirer Richmond, VA
Article from Richmond Enquirer, October 1, 1841

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Stocks are down in New York. An injunction has been served upon the Commercial Bank, of the city of New York, under the authority of the Bank Commis sioners. The doors of the Bank were closed on the 25th for all business. It is a Safety Fund Bank. The Bank, it is believed, has over-traded, or loaned too large an amount to persons connected with its management. - The stockholders are expected to sustain a severe loss. The last sales of the stock were at 48 per cent. The capital was $500,000. The amount of notes in circulation is estimated at from $120,000 to $150,000 -The New York Evening Post of Monday evening speaks of "certain rumors of an examination being made by the Commissioners into the affairs of another of our banks which is supposed to be rather rickety. The bills of the Commercial Bank do not pass at par at all the banks, as it has been stated. But it is understood arrangements will soon be made, by which they will again be received on deposite at the VATIONS banks. The Herkimer County Bank has been robbed of $75, 000 by a Teller and two other conspirators. The Teller was traced to Albany-and the Postscript of a letter from Albany of Monday, 4 P. M., (in the N. Y. San) says, "that these honorable young gentlemen were overtaken and secured on the read toward Whitehall, before they had travelled twenty miles from their stopping place on Sunday night, near Waterford. They are inere boys in point of age, the oldest not 23, the young est about 19. The names of the robbers are Anson C Brown, Tobias G. Green, and Charles C. Francisco. "Since the above was written, we have conversed with a gentleman who came down in the boat on Monday night, and who informs us that all the money was recovered except a few dollars which the rogues had spent in travelling." The whole Banking System in the States must be radically reformed. The suspended Institutions (we mean, those that are not bankrupt,) must resume specie payments, by a wise concert and at as early a day as is practicable. The Bank of the U. S. is a wreck. Never since the days of the South Sea and the Mississippi bubbles, has 80 memorable and disgraceful a failure occurred. Bick nell's Philadelphia Reporter of Thursday, quotes the stock at 5 bid, and 6 asked, on the 103 dollars.

2. October 7, 1841 Lynchburg Virginian Lynchburg, VA
Article from Lynchburg Virginian, October 7, 1841

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Speck of War.-The Chatauque N. Y. Standard, statesthat the new British War steamer was disc. ered by Captaio Koapp, officer of the U.S. Army at Cleaveland, taking soundings and surveying the pasHe hailed her, but receiving no reply. he fired a gun over her stern and another over he, bow, hailing her each time, but still receiving no reply he fired another into her hull, whereupon she puton steam and departed. British Steamships on the Lakes.- The New York Express remarks that a good deal of solicitude has been produced on the frontier by the British Gov ernient building several armed steamships on the Lakes, and the optation prevails 1 th I " has been done III violation of the mealy between Great Britain and this country. which limits each to one vessel on Lake Ontario not exceeding 100 tons burden, with an 18 pound Ca n II on the upper Likes a vessel under s milar Immitations. and also one on Lake Champlain under like restrictions. Six months notice train either side is requisite to noul the treas y Commodore THOMAS Ap CATESDY JONES was appointed on the 23d ultimo to the command of the United Sintes equadron in the Pacific ocean, and will hoist his broad peunant on board the frigate United States at Norfolk. The Lexio_ton (Ky.) Observer of the 25th ult. saye: The Hon. Henry Clay arrived at his residence near Lexin_ton on Wednesday night last, the 22 Instant. Mr. Speaker White,the Hon. Josept R. Underwood, and the Hon. Willis Green arrived at the same time on their way to their sever. al homes." Ohio River.- Exir ct of a letter dated Wheeling, Sept. 29, A. M. The river rose rapidly through the course of the last night, and continues rising-4 b ats leave 10-day for Cinci oat." Robbers caught and caged.- robbery was committed. few days ago. upon the Herkumer County Bank (New York) to the amount of more than seventy thousand dollars. The robbery was diecovered and the chieves pursued much sooner than they anticipated. They were overtaken at Sandy Hill, on their way to Canada, and the whole of the money, except five or SIX hundred dollars, recovered. Wingate the Defaulter.-The Raleigh Star says that this man, who was cashier of the Raleigh Branch of the Bank of Cape Fear. is actually a defaulter. The amount of the d 6 tency is between 13 and 14,000 dollars. for which the four securities the official bonds are amply responsible, so that the Bank will lose nothing. Mr. Wingate has been amost respectable man, and is connected with many I the most respeciable families in Wilmington. is said that he is a victim to that most fatal vice, gambling. James Dunn and Charlie Greenwood, two young men who had defrauded Mr. R. D. Borns of Baltimore of $1300. have been arrested in Charleston (S. C.) Dunn seemed impressed with his guilt and conlessed every thing. Greenwood was indifferent.Dama 11 appears was Mr. Burns's Clerk, and was persuaded by Greenwood to run off with the money he had drawn from Bank with Mr. B'scheck. A Snaky Monomaniae. An elderly man, named Beat, living in Milton, Mass. is under the ballucination that he bas in his stomach a live rattlesnake. Heimagines that he will never die as long as the snake remains III him. The trial of Coll.-The N. Y. Tribune says: The Grand Jury of the Court of Oyer and Terminet having found a true bill against JOHN C. COLT for the murder of Samuel Adams, the accused was yesterday taken from the City Prison and brought, heavily ironed. into the chamber of the Assistant Aldermen. Hisirons were here taken off, and he was conducted into Court, before Judge Kent and Aldermen Woodball and Leonard, to plead to the indictment. His Counsel however moved the Court for a postponement of the plea until Wednes day (this) morning, when he will be called upon to plead guilty or not guilty 10 the indictment. At the request of Counsel, a copy of the indictiment was or dered to be furnished their. Colt was then remanded. his irons again put upon him, and he conduct ed to prison.- appearance is that of a man strug gling with intense energy to stifle the terrible feel logsthat seem to vex his soul; and this continued CO test with his own heart has already given to his countenance a baggard and most repulsive aspect. He is continually attempting to converse with his juler about the murder, and has been repeatedly checked by him when apparently on the point of making disclosures " which would be greatly against him on his mal. FAILURE OF THE COMMERCIAL BANK IN NEW YORK.- Ao injunction was served Monday morning the Commercial Bank at the instance of the Bank Commissioners. Its affairs have been for some time indifficulty, keeping it a debtor to the other City Banksconstantly to the amount of $60,000 TO $90.000.-1 is under stood that the assets I the Bank are now sufficient to render its debts safe, butnot to leave much for the stockholders. It was a safety fund institution, with hall a million capital. Its cir. culation, 1st January last, amounted to $121,370 A borrid case of murder and suicide recently occurred at Delaware, Ohio. A German named Girleih Keen. d railor by trade. shot his son in the most deliberate manner. making bin stand up and placing the muzzle of the gun close to his breast. He then releaded his gun and d scharged 11 against his own bosem by meaus of the ram-rod. An awful murder was also perpetrated at Maysville, Ky. by a man na ed Moses Keao. a shoema. ker. With a razor he cut and mangled his wife's throat in such a manner as to produce her instant death, and then made an attempt to cut his own throat with a shoe knife, but did not succeed. A man named Glowrie was mortally wounded in an affrity at Montgomery, Ala.. on the 8th ult.The wound was a slight puncture 10 the lower part of the thighes penetrating the femoral artery, made

3. October 16, 1841 Sunbury American and Shamokin Journal Sunbury, PA
Article from Sunbury American and Shamokin Journal, October 16, 1841

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Editorial Miscellany. An old man by the name of Stain.netz, was killed on Saturday last, near Carlisle, by being run over by the locomotive. The deaths by yellow fever in New Orleans during the week ending on the 25th ult. were 259, and during the succeeding three day 79. The e. pidemic has been more fatal this year than for many years previous. It is calculated that there are in the United States 14,012 lawyers, 14,680 clergymen and 10.322 physicians, exclusive of quacks and pettifogers. A slave named John was executed at Portsmouth, Va., on the 1st inst. Under the gallows he made a full confession, and prefaced it with the following emphatic warning: "You all see me here, and I will tell you what brought me here, it was Rum!!" A man in New York a few days since, drank a pint of brandy, and died from the effects of it. He was not a regular toper, or he would have taken a smaller. A column of the Corinthian order, 40 feet high, has been erected in Canada, to commemorate the glorious victorias of Temperance over King Alew hol. The Commercial Bank of New York has been closed by the Bank Commissioners. WESTWARD Ho -The ship Roscius has just arrived at New York, with 250 emigrants on board. A great State Agricultural Fair and Convention was held at Syracuse, New York, on Thur day Sept 30th. It is said that the display of neat cat the had never been equalled in that state, The friends of Henry Clay in Kentucky, have given him a grand barbacue. CAUGHT AT LAST.-A United States soldier caught a devil fish near St. Josephs last week, weighing a thousand pounds. There has been a great storm down East, which has done much damage to the shipping. The hospitals at New Orleans are filled with cases of yellow fever, and up to the 1st inst. the violence of the fever remained unabated. The British Government have increased it e as mount paid to Cunard $120,000, so that 'so now receives $420,000, per annum, for Laning a stea. mer twice a month between Eng and and the United States. ...

4. October 19, 1841 The Madisonian Washington, DC
Article from The Madisonian, October 19, 1841

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The New York papers state that the Cashier of the Commercial Bank, R. W. Redfield, has disappeareda deficiency of fifty-six thousand dollars having been discovered in his accounts, of which the commencement was traced back as far as 1837. The affairs of the Commercial Bank, it will he remembered, are now in the hands of a Receiver.

5. October 20, 1841 New-York Tribune New York, NY
Article from New-York Tribune, October 20, 1841

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BANK-The - Receiver of the Commercial Bank has removed the Bank to No. 1 Hamover street, second story, two doors from Wallstreet. R W. BLATCHFORD. TO LET. until the first day of May next, the rocinNo. 27 Will street, lately occupied by the Commercial Bank. They are well fitces for an Insurance Company. 620 4tis Apply as above.

6. October 21, 1841 New-York Tribune New York, NY
Article from New-York Tribune, October 21, 1841

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ORMERCIAL BANK- - The Receiver of the Commercial Bank has removed the Bank to No. 1 Hanover street, second story, two doors from Wellstreet. R N. BLATCHFORD. TO LFT, until the first day of May next, the rooms No. 27 Wall street, lately occupied by the Commercial Bank. They are well filled for an Insurance Company. 620 4tis Apply as above.

7. October 28, 1841 New-York Tribune New York, NY
Article from New-York Tribune, October 28, 1841

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BANK - The under signed hereby gives notice that he has been ap. pointed Receiver of the Commercial Bank in the city of New York All persons. firms and corporations indented to said bank. whether severally or juintly, are required by the fifteenth day of December next, to render to the Receiver an account of all debts and sams of money ow. ing by them respectively to such bank, and to pay the same. All persons having in their possession any property or effects of such bank are required to deliver the same to the Receiver by the day aforesaid. All the creditors of said bank are required to deliver their respect. ive accounts amit demands to the Receiver by the day aforesaid. All persons holding any open or subristing COR ract of said bank are required 10 present the same is writing and in detail to the Receiver by the day aforesaid. The Receiver will make a partial dividend among the creditors of the Park as early as the real zision of the assets of the Bank will permit. In the meantime he will issue to the creditors and depositors certificates if desir. ed, showing the amounts which bv the ks of th : bank, appear to be due their respective Iv. 1 14 provided by law that if is final dividend of the effects of the bank does not satisfy and discharge all the debts of the bank with interest. the Bank Fund in th Treasury of the State is liable for the deficiency. The Comptroller of the state is now redceming the circulating notes of the bank in the city of Albany. The office of the Receiver is at No. 1 Hanover street Date: New York October 27. 1841. R. v. BLATCHFORD, Receiver 628 4tis TEAM. GROCERIES, FOREIGN FRUITS, &.c.-A large stock of fresh Tea., Groceries and Foreign Fruits of all kinda, for sale at wholesale prices by J.O.I FO ALER, wholesale and retail grocer, 239 Greenwich st cor. Murray. N R. Good dairy Butter at Is 6d 3th per lb and Winter Sperid Oil at 9s per gall. 628 UDSONST. CHEAP STOBE,-Ladies! what would you think if you should call at 70 Hud. H 100 street and find a spiendid assor ment of Dry Goods, cheaper than were ever offered in this country such as Flanne's for is and 6d, Morsselixe de Lainer for 10s a dress, shilling Caicoes for 91, the best Sea Island Loag Cloth, over a yard wide, 10d per yard; ? ch Chiene Valvers at 12. such as are generally sold for 83; Silks of every description cheaper than they can be bought auc. tion Ladies call and see if the goods are not uniformly before elsewhere. cheap. purchasing Don't forget the number. it is TH Hudson street. N B. Without exception, these are the cheape : Goods 628 1218 that have been offered in this City. W. & F. A MILLER, Nos. 447 BroadL way, and 48 Canala have now on band and for rile cheap, an assortment or Ingrain Brussels, and ThreePiy Carpets. Also, Printed Druggetts, and 8.4 wide, chintz colors, and a good article. Also. a large lot of Floor Oil Cloths, of various widths and patters. which pa-st S the cesirable qualities of being well case and well made. These Cloths we are easy bled to sell at very low prices. We have also a quality of reimbants of Oil Cloths, suitable for puttiur under Soves and such purposes, hich ae are arxious to di.pose of. and which will be old at a great reduction from prices when cut from the piece. Please call at 447 Broadway. 48 Canal st. worth c28 lw side. CARD -We have just received our Fall ans Winter Fashions. together with an assortment of A seasouable goods. in which we invite the attention of our friends and customers, and the public generally ELLIS & BANCKER, Tailors. No. 36 Fulton streal. N. Y. 525 1mis

8. March 1, 1842 Richmond Enquirer Richmond, VA
Article from Richmond Enquirer, March 1, 1842

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Esq., U. S. Attorney. To Another Bank Closed.-The Utica Gazette says: "A letter from a gentleman in Cleveland, to his correspondent in this city, dated the 11th instant says, 'the panic noticed in my last has not decreased. The Com. mercial Bank of Lake Erie closed its doors for the last time to day.' This was one of the oldest, and supposed to be one of the strongest banks in Ohio. Apprehensions are entertained that other banks which have hitherto been in good credit, will soon stop." The Philadelphia Ledger says that notice has been received in that city that the Merchants' Bank and the Commercial Bank of New York have thrown out and refused to collect notes of mercantile houses made payable in Philadelphia.

9. October 24, 1842 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, October 24, 1842

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Buffalo, February last of 44 per cent. and the City Bank of in the same month, paid a dividend of 50 per cent. Receivers of the several insolvent render it quite bankstaken The returns collectively, from the certain that in circula- the loss to the Safety Fund will be equal to all the notes that a call may on the the debts of some of betion; Safety and it Fund is not to improbable pay the be Banks made youd the redemption of the notes in circulation. The discounted bills in most of the banks are very large in amount; but the Receiver of the Commercial Bank of New-York estimates that only about ten thousand dollars will be realized from three hundred and eight thousand dollars of this class of assets. In ten months the Receiver has collected only $2,181 the in usets the of Bank that of Bank, Buffalo while Comptroller, less 79 than from five the months, has collected and redeemed more than $423,000 of notes of the same bank. There has been Commercial Bauk of paid the circulating on the assets of the Buffalo Fund only to $11,000, while the outstanding notes for the Safety The payments to the Receiver of the of amount to Watervieit A statement redeem Commercial amount Bank to about $483,000. Bank $8,000. Oswego has $2,400; not been the obtained from the Clinton County Bank, but the sum collacied probably does not exceed those of the Commercial of and Beffalo. Judging from tions believe that an amount to Bank there Oswego is no reason to these equal indicathe debts of the banks will ever be realized from the assets the Receivers. If this is so, the loss to the the circulating notes of ten exSafety hands Fund, of being the $2,068,504; banks, which cluding the Lewis County Bank, will be consume the original capital of the Safety Fund and of the contributions of half of one per cent. on the capitals all the banks to January, 1849, inclusive. After the arrearages are paid off, the banks must continue make pay half of one per cent. annually for six years, to up a new fund. This will terminate in January, 1855, provieed there are no mere failures among the Safety Fund Banks. Markets-Carefully reported for The Tribune. ASHES-The market remains heavy with an indisposition among exporters to buy at previous rates. The bills out to-day are about 150 bbls., and the receipts about 100 bble of both descriptions. Of Pots some 40 to 50 bbls. have been taken at $5.621, but the market cannot be considered firm at this rate. Pearls are still sold by some receivers at $6, but sales to a small extent were made at $5 94 a $587} The bigher rate is about the fair quotation. The amount received sisce opening of Canals, is 36,974 bbls. Stock on band, Pots. 1st inst., 2,133; 2d do. 377; 3d do. 119; condemned, H.Total, 2,723. Pearls, inst, 590; 2d do. 115; Sd do. 33 ; condemoed, 22.-Total, 766. Aggregate, 3,489 bble, Shipped from 1st to 19th October, 2,144 bbls. Pots; 294 bbls. Pearls. COTTON-The sales to-day are about 500 bales, at al most previous rates. The market, however, continues in favor of the buyer. A portion of these sales were to exporters, but the decline in Exchange and the difficulty of selling bills, keep shippers out of the market. The sales for the past week add up 2,200 bales, viz: 1,300 Upland and Florida, at a 9; 300 Mobile, at of a 10; 400 New Orleans, at 6a 10. FLOUR-The improved feeling in Flour continues to prevail, and the demand to-day for the East and bome trade has been very fair. Some large receivers who have been seiling at $4.25, are now asking $4 311. The sales of Genesee have been generally at $1.25, with none to be had less, and are not very treely at that. Ohio flat. $4 182 a $425; Wilmington, $1.18 a 25, mostly good brands at the latter rate. Troy is afforded at but sales cannot be made at that rate. Round Ohio is selling at $4 183 and in demand. We believe there is more to be had now be low that price. A lot of 1,200 bbls. of fancy brand round Ohio sold, for shipment to East Indies, at $131. lined. Within a few days 800 bbk New-Orleans superfine sold from the whari at $1 124, and to-day 410 bbls. sold, to arrive, at smething over that rate, supposed at $4 183. In Southern we bear of very little doing. The price of round Ohio in daces purchasers to take that in preference at the differ

10. February 27, 1843 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, February 27, 1843

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Mr. ROOT gave a history of the Proceedings of the company, and spoke at lengt in support of the bill. He had hoped, he said, to see the road made a state work; but as the majority would not consent to this, he wished to see the next best course taken. He spoke of the injustice of denying to the southern counties any return for the injuries they had sustained from the imprevements through the centre of the state. He referred to facts to show that if this road were once completed it would be the most productive work in the state, the Erie canal alone excepted, and would easily pay off all the junior liens which this bill allowed, and the three millions advanced by the state besides. Mr. DICKINSON followed in support of the same views, and the bill was debated by different members, until the Senate, after an Executive session, adjourned. In ASSEMBLY, Mr. CHURCH reported in favor of publishing the report of the receiver of the Commercial Bank of this city; the report was adopted. Mr. SOPER introduced a bill in relation to fees of Surrogates. The bill relative to criminal courts in this city, was then referred to Committee of the Whole. The bill to incorpate the Merchants' Insurance Co., was then sent to a Select Committee. A number of private bills were then passed and the House adjourned.

11. March 29, 1843 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, March 29, 1843

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City Entelligence. TUESDAY, March 28. VICE CHANCELLOR'S COURT. - Before Vice Chancellor McCOUN. DECISIONS.-R. M. Blatchford, receiver. &c., vs. Richard W. Redfield and Samuel W Lowerre.-On Mr. Redfield becoming cashier of the Commercial Bank he gave a bond for $20,000 in security for his faithful conduct. It was signed by bimself as principal and Mr. John Redfield and Samuel W. Lowerre, assoreties. The receiver entered an action in the Superior Court for the amount, asserting that Mr. R. W. Redfield was a defaulter in the sum of $56,000. This wasdenied. Mr. Lowerre also put in a plea denying bis liability, OH the ground that the bank, in September, 1811, compromised with Mr. Redfield by taking his notes, endorsed by John Redfield and Andrew Williams, together with a certificate for $2,500 of the North American Trust Company, and 20 shares Commercial Bank stock, for the amount said to be due by him, said notes being for 1, 2 and 3 years-also that the bank bad not acted in good faith with the said Lowerre, Mr. Redfield, when appointed cashier, owing the bank $10,000 for defalcations while teller, the knewledge ot which was concealed from him when becoming surely. The receiver comes into this Court asking that and the case may be withdrawn from the Superior Court submitted to referees. Mr. Lowerre objects to its being so Motion denied, with costs, to be taxed. Hiram Walworth, clerk, &c., TOS. Robert Anderson and other.-Two unimproved lots in William-street, recendy belonging to Mr. Anderson, were sold under mortgage, to Samuel F. Mott and Michael Gaffney-the first for $2,150, and the other for $1,715. They come in asking to vacate the sale on the ground that five feet will be required for the widening of William-street, &c. Motion denied, with costs of opposing the motion, to be taxed, to be paid out of the proceeds of sale. John Targee, executor, &c.-The petition of Mr. Targee to be discharged as a trustee of the estate of John Cowenboven allowed, and order of reference made to appoint another trustee in his place. Writiam Malenur, executor, US. Arch'd. Watt and Mary, his wife, and others.-Motion denied, with costs. Thomas Nichells vs. James B. Taylor.-Ordered, that the injanction be modified so far as to permit the defendant to proceed to trial, kc.

12. July 7, 1843 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, July 7, 1843

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ECEIVER'S OFFICE-Room 30 in Dorr's R Building, Exchange Place-The Receiver of the late Com mercial Bank of New- York, will pay to the creditors of the Bank a farther dividend of twenty-two per cent. on Friday. the seventh day of July next. at his office above named. Creditors will please produce, when they apply for the dividend, the Receiver's certificates of debt which they hold respectR. M. BLATCHFORD, Receiver. in

13. July 1, 1845 The New York Herald New York, NY
Article from The New York Herald, July 1, 1845

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MONEY MARKET. Monday, June 30-6 P. M. The stock market has decidedly improved, and prices show an advance of a fraction on most of the fancies. The sales were not very large, but operators exhibited a better feeling. Stonington went up 11 per cent; Norwich and Worcester 1} Morris Canal 1; Long Island 3; Canton 1; Harlem 3; Farmers' Loan fell off Pennsylvania Fives closed firm at Saturday's prices. All the State stocks are firm. The books of Pennsylvania stock close to-morrow, and sales made after will be quoted with dividend off. Sterling Exchange closes firm at 91 a 9 2 per cent; on Paris at 5f,27} a 5f.26. The demand is not very active. The Old Board of Brokers passed a resolution, to adjourn from Thursday to Monday, on account of the 4th of July. It was rumored in Wall street this morning that forgeries to a large amount had been discovered, implicating some parties formerly of high standing in this city. The amount already known is about $10,000, and it is suppo. sed that the extent to which the operations have been carried, will make the amount very large. The amount of duties received at the Custom House of this port from the 1st to the 28th of June, 1845, was $1,172,091 / The amount received for the month of June, last year, was $1,960,363, showing a falling off of $788,272. This may be reduced about fifty thousand dollars by the receipts to-day, leaving a deficiency for June this year compared with the same month last, of about $738,000. The Phonix Bank of this city has declared a dividend of three per cent for the last six months, payable on the 10th July. The last instalment of the debt contracted for the construction of the Erie and Champlain canal, becomes dueto-morrow, and will be paid at the Manhattan Bank. The amount of principal is $782,620. The amount to the credit of the Commissioners of the Canal Fund in the Manhattan Bank this day, is $1,232,677 $782,620 Erie and (Champlain debt due 245,917 Interest on canal debt 1,028,537 Balance after paying Champlain debt and int'st. $204,140 This balance will he applied to the redemption at par of the Ave per cent stock issued for the construction of the Chenango canal, which frills due on the 1st of Jan., 1846. The receiver of the Commercial Bank of New York has made dividends to the amount of seventy per cent, and is about closing the affairs of the concern.This leaves a demand of thirty per cent. upon the Comp troller, to be drawn from the safety fund. The agent of the Madison and Indianopolis Railroad Company has succeeded in obtaining a loan in this city and in Philadelphia of $50,000. The grading and bridging of the thirty miles from Edinburgh to Indianopolis have been put under contract on favorable terms. The cars, in a few weeks, will run fifty miles from Madison. The receipts for March, April and May were $11,400, being $10,000 more than received for the corresponding months last year. Our Eastern capitalists appear to have a great deal of confidence in the prospective productiveness of the railroads of the Western States, and liberally subscribe for their completion. We have no doubt but that in a few years every section of Ohio will be connect ed by lateral roads running from the main stems opening communications from theOhio river to Lake Erie. The public improvements of the Western States,must hereafter be constructed by individuals ; the governments have become too deeply involved, to attempt any thing of the kind again. Private companies invariably are more suc cessful in building railroads and canals, than govern ments, and make them more productive after they are completed. The most profitable public works in the country have been constructed by private enterprise and we have been taught by dear experience;tha governments are not able to compete with individuals in making improvements in the modes of communication between different sections of the country. The extravagance and useless expenditure that attend the construction o all State works, require the receipt of large revenues from them, to pay even the interest on the outlay, and legislative enactments protecting them against competi tion; whereas individual enterprise is compelled to pro! tect itself against all rivals, and can only become profit" able when perfected at the most reduced cost. We annex the prices current at the close of operations o-day, for the stocks used in this market principally for investment :PRICES OF STOCKS New Your MARREE

14. December 1, 1845 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, December 1, 1845

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Law Courts. COURT OF COMMON PLEAS.-Elizabeth Christie VS. Isaac B. Ruton and Nich't Jones.-Action for Assault and Bat tery, and False Imprisonment. Verdict for Plaintiff, $65, and costs. DECISIONS.-Application on part of John McGann. to be released from Prison, where he remains for non pay. ment of a fine imposed by the Sessions. He was H cabman, and convicted, he says, when his trial was burried on during the absence of his counsel and witnesses, and convicted and sentenced to 6 months imprisonment and $50 fine on a charge of receiving two blankets used for horses, and a Buffalo skin. knowing them to have been stolen. He has been seven months in prison, but cannot get out, owing to not being able to pay the fine. He states that he has a wife and child. After he had been put in prison bis landlord seized and sold his horses and some other property for rent, and subsequently issued another warrant and took and sold his cab. He is without property, or the means of paying his fine. Application granted. Thos. Darlington VS. Jas. S. Libbey.-Action on a Note sold by the Receiver of the Commercial Bank. to which the defendant claimed to effect a check beld by him against the Bank. Verdict for Plaintiff confirmed. Charles Osborm vs. Wm. W. Smith.--New trial granted, on payment of costs. Henry Chasmer VS. Fred'k. Hammer.--In an action for Slander, the Jury construed the offending words to mean that plaintiff accidentally set a curtain on fire, instead of that he willfully fired an inhabited house, and found for defendant. Motion is made for new trial. The Court remarked that the construction of words so spoken rests with the Jury on the testimony presented. New trial denied. Joshua Culver. Jr. VS. Wm. H. Culver. impleaded with Noah Ripley.- - The Court, in this case. held that is plea of petitions in Bankruptcy is not sufficient, a discharge must be shown. As Plaintiff. however, proved his debts under the Bankrupt Law, he waived his right of action.Judgment for Defendant on demurrer. In the case of A. F. Smith vs. John W. Tainter, report confirmed. Merchant's Exchange Bank VS. Henry Wilkes, verdict confirmed. Bennett & Martin VS. Tainter, judgment for Defendant on demurrer. Thos. Pearson VS. Wm. Snedeker. appeal dismissed.

15. July 31, 1854 The New York Herald New York, NY
Article from The New York Herald, July 31, 1854

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Thus it will be seen that on a capital of two mil lions the directors of the Manhattan Company had accommodated the business men of the city to an amount less than one halt of their capital, while they bad invested over two millions in stocks and loans to brokers, speculators, and operators in real estate, in long loans on bonds receivable. No wonder they were compelled to come to a ' dead lock," change the officers of the bank, and devote several years of labor to reinstate their capital, withholding dividends from their stockholders for the time, of course. The losses of this institution by various loans to speculators and defaulters, it is difficult to estimate; but for a long time the price of their stock in market showed an apparent loss in the difference before and after the difficulties of 1839, of over one million of dollars. It is unsecessary to say that, under the management of its officers and directors since 1840, it has regained its former high rank among our city institutions. The Phoenix Bank is another institution which suffered heavily by the operations of the speculators and defaulters from 1836 to 1840. During the speculative period, its capital had been increased half a million of dollars by act of the Legislature, but so great were its losses that in 1841 they were compelled to apply to the Legislature for a reduction of three hundred thousand dollars, after having suspended dividends for several years. The failures of the Commercial Bank and the L2, Fayette Bank, each having a capital of half a million of dollars, was owing also to the operations and defalcations of the speculators of 1836 to 1840. To these may be added the North American Trust and Banking Company, with a nominal capital of two millions, and several minor institutions which were organized under the General Banking law of 1838, and after a brief existence became insolvent. The summary of those broken banks whose capital has been used up by speculators and defaulters, is as follows:-