13993. Union Bank (Frenchtown, NJ)

Bank Information

Episode Type
Run → Suspension → Unsure
Bank Type
state
Start Date
April 20, 1857
Location
Frenchtown, New Jersey (40.526, -75.062)

Metadata

Model
gpt-5-mini
Short Digest
9df448f9

Response Measures

Full suspension

Other: Bank pursued a civil suit against alleged conspirators who purchased notes to force redemptions; later the bank appears on lists of suspended banks during the 1857 panic.

Description

Newspaper reports from April–May 1857 describe a maliciously engineered attempt to draw specie from the Union Bank (a conspiratorial run by Hudnut and Snyder); later reports in Oct 1857 list the Union Bank of Frenchtown among banks that suspended specie payments during the widespread 1857 panic. There is no clear mention of a reopening or permanent closure in the provided articles, so I classify as run → suspension with outcome unsure. I corrected no major OCR errors for bank/city names.

Events (2)
1. April 20, 1857 Run
Cause Details
Malicious conspiracy by Hudnut and Snyder to procure notes and present them for redemption to draw specie and 'break' the bank (intentional scheme rather than rumor).
Measures
Bank sued Hudnut and Snyder for malicious conspiracy and damages (suit pending in Hunterdon County Circuit Court).
Newspaper Excerpt
Hudnut did obtain means from Snyder with which he procured the notes of the bank, 'to make a run upon it'; that the bank did not have specie enough on hand to meet the demands of Hudnut...
Source
newspapers
2. October 3, 1857 Suspension
Cause
Macro News
Cause Details
Listed among many banks that suspended specie payments during the financial disturbances of 1857 (widespread panic/suspensions).
Newspaper Excerpt
The Bank of Galena, Illinois, Traders' Bank Yo Indianapolis, Indiana, Union Bank of Frenchtown, N. J., and Bank of Greensborough, Georgia, have suspended.
Source
newspapers

Newspaper Articles (8)
1. April 28, 1857 Nashville Union and American Nashville, TN
Article from Nashville Union and American, April 28, 1857

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A NOVEL Sur.-The Trenton (N. J.) True American of the 20th inst., states that there is now pending in the Circuit Court of Hunterdon county, in that State, a suit, brought by the Union Bank, of Frenchtown, against Hudnut and Snyder, for maliciously conspiring to draw specie from the said bank, by presenting its notes for redemption, with the object of breaking the bank. The principal facts elicited are, that Hudnut did obtain means from Snyder with which he procured the notes of the bank, "to make a run upon it ;', that the bank did not have specie enough on hand to meet the demands of Hudnut, and he proceeded to have their notes severally protested-but it seems, that by mistake, he caused the protests to be made by a Justice of the Реясе, instead of a Notary, as required by law, and therefore failed to obtain his object before the bank was enabled to provide itself with means to meet its notes. The bank. however, complains of injury done its business by this procedure, and sues for damages, laying its claim at $5,000. The defendants dispute the right of action, upon the ground that none of the legal rights of the plaintiffs have been infringed. This, as we understand, is the first case of the kind in this or any other country, and the decision will be looked for with great interest.

2. April 29, 1857 Wheeling Daily Intelligencer Wheeling, WV
Article from Wheeling Daily Intelligencer, April 29, 1857

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# SINGULAR SUIT. A singular suit is now in the course of trial at Flemington, New Jersey brought by the Union Bank of Frenchtown, in, that State, against Messrs. Hudnut and Snyder for maliciously conspiring to draw specie from the said bank, by presenting its notes for redemption, with the object of breaking the bank. The evidence has been all taken, and the counsel, at the last accounts, were summing up. From a notice of the case in the Trenton True American, we copy the following:- "The principal facts elicited are, that Hudnut did obtain means from Snyder with which he procured the notes of the bank to make a run upon it;' that the bank did not have specie enough on hand to meet the demand of Hudnut, and he proceeded to have their notes severally protested-but it seems, that by mistake, he caused the protest to be made by a Justice of the Peace, instead of a Notary, as required by Law, and therefore failed to obtain his object before the bank was enabled to provide itself with means to meet their notes."

3. May 9, 1857 Keowee Courier Walhalla, Pickens, SC
Article from Keowee Courier, May 9, 1857

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PICKENS COURT HOUSE, S. C. SATURDAY, MAY 9, 1857. demanding to be want longer. the cit The Hanging at Yazoo, Miss. strong man without air and without room. lov On Friday. the 27th of June, 1856, Yand determined to have them, or at least thi C. Bovard paid last penalty of the law, to die gallantly in the struggle for them. for the murder of his wife, as did the three It is the irrepressible expansion of overof Pritchard negroes, for the murder of their compressed human energies. It is the ex He master. The execution took place in the odus of the nations. It is the outpouring br presence of not less than three thousand persons, of the too full blood of the old world-into all the all capacious veins of the new world. ly Boyard made his appearance under the It is the foundation in America of Republic of gallows at the hour of twelve, tastefully ar. can empires to outcount in numbers and out in rayed, and showing no sign of alarm. His vie in strength the parent States of Europe en, step was firm and elastic, and his whole desay that is the work appointed of God for a meanor calm and self possessed. On scan. us to do, with the blessing of God upon us, is ning this physiognomy we could not discov that work we will do. If rivers run across er any mark that betrays the cold blooded our path, we will bridge them mountains Pe murderer. Just before he swung off he rise up to stop us, we will tunnel them for made a speech to the thousands who were deserts appear, we will reclaim and culti collected before and around him he yate them; if ceans intervene we will HAV tra lie testified I crime which was charged in the indietment wascommitigate them to which last end, so long as there's an oak left on earth, gallant ships ted by him while laboring under aberation shall continue to he launched into the waone of mind caused by hard drinking. To bran. ters of this our Merrimate. No material dy he attributed his downfall. and in an obstacle can arrest our progress. We WOO tha earnest tone he warned the young men pie this fair nature which lies before and we ngainst tasting that which 'enters the woo it as its conquesor, like the vikings of in mouth to steal away the brains," and enthe old time winning their brides of the sea of treated them to take warning from him, nd in open combat. I say this in the same me eschew that which "biteth like a serpent and confidence of conviction as one who, seeing stingeth like an adder.' ing But to his remarks the sun set forth from the portals of the East. may speak of its onwards course to and This gallows is to end my life. That box the West. For time was when the United and to contain my body ; and the grave to be States were but weak little colonies of Eng. wit my resting place, until the last loud trump land, scattered along the seashore. Then of God shall sound awakening my sleeping they overflowed the Alleghanies into the you dust to come to the final reckoning. valley of the Mississippi. Next they ab I will make but few remarks aware of you sorbed the vast domain of France from to the fact that anything said by a man in my Lake Superior all around to the Gulf of of situation contrary to the generally received Mexico, and Westward to Oregon Next frie opinions of men, (although it be as true as they possessed themselves of the two Florideg the snered word of God) is branded false das, and then of Texas. Aud finally they and hoods by them and men will say the wretch have marched on through New Mexico in died with a lie in his mouth: but be that's to retnote California. But in our conquest it it may the truth must and will tell. of nature with our stalwart arms, and with fro You have assembled here to witness our dauntless hearts to back them, it hap you scene which in all human probability you pens that men, nations, races, may, must, ligr have never witnessed before, and I u umbly will, perish before us. That is inevitable. dri pray my God, that your eyes may ever be There can be no change for the better save spared a repetition of a tragedy, so awful, at the expense of that which one genfrom its very nature, as the one now before eration gives place to another. Out of are you-n man to be executed for the crime of decay springs fresh life. The tribes of Inmurdered victim being no oth. dians who hunted over the land, without er than his own wife--the partner of his occupying it, retire before us like the huntmy bosom and the mother of his little babes. ed-deer and the buffalo themsalves,--deep. to Gentlemen, I am not guilty as charged er and deeper into the innermost recesses pec in the indictment under which I was tried of the Continent. And the Hispano-Mexi in and condemned and in few minutes to pay eans, wasting away by apparent incapacity and the penalty with my life. I was deranged of self government, are suffering one proin mind--reason had left her throne- had vince after another of theirs to relapse into to no control of my reason or myself; when Mr pristine desolation, and thus become prethis appalling and rending deed was pared to receive the people and the laws of the committed. the United States. All that is now historec I tell you most candidly and truthfully ry. Yet, wise men long before that edg too, that when in my sane mind the most bur so it was to he. From the present they in distant thought neyer entered my mind to ferred the future, and spoke of it with the ner harmone of my own family; much.lesstake positiveness and precision inspired prophthe life of that one who was nearer and ecy rep dearer to me than my very existence ; and ma AMINE IN WESTERN IOWA.- correshad found a/will or desire in my heart to the pondent of the St. Louis Republican, write commita deed of such atrocity I would have cou ing from St. Joseph, Missouri, under date torn it from my breast and cast from me of April 13th, says that, while on a recent as being unworthy to pulsate in its usual tim visit to Western Iowa, he met long trains place, No, not all the wealth, the honor me of wagons going, as the drivers said, into and the glory of the world combined would ba "Egypt to purchase corn." The severe and have induced me,nor death itself in the most all hideous manner which the ingenuity of man protracted winter had pressed hard upon O. the newly arrived immigrants, who had not could invent, would have forced me into the mu had time to preparefor its rigors, while the committal of a crime of such magnitude vil ATMOST entire consumption of ffour, corn, against the laws of my country and the de and bacon, had presented the alternative of laws of but Dup Dring who nas aeciared emphatically, Thou shalt not Can famine, or sending into Missouri for sup. hay plies. it be possible that any man who has known oth me from my boybood up (and there are has DEATH FROM HYDROPHODES.-A death many this county, for it is those who bee from that horrible -hydrophobia= known me longest that have known do occurred in Philadelphia on Wednesday, me best) can attribute that nwful affair to the victim being a child only seven years of any other than the true of in if age. The bite was inflicted some two sanity, de months since, and the insidious poison had Yes, I dare to believe that in my whole the remained latent until with a few days. The circle*of neqhaintances that there are but fou dog was shot immediately after the occur few who believe me guilty of any known the murder rence. The wound, which was upon the back of the hand, scarcely punctured the yo To reveal all In rebition to that horrible ch skin, and not the slightest apprehensions seene, I really cannot do, for I have but mu were entertained of any unfortunate result vague and indistinct recollection of any until within A day two, when it WAS too wa thing occurring to or with me, from Sunday AR late for medical skill to be of any Avail. night the 18th of November previous to THE NOVEL BANK CASE. Our read that night on which the deed was commit life ted until Thursday morning the 22d Nov. ers will remember that was stated a few On when I found myself in the hands of officers days ago that the Union Bank of French tim at Mangum's Hotelri Benton. During this town, N. J., d indicted certain parties for the time, however, had one or two lucid in a conspiracy to break the bank, basing the are terrals, one of which recollected distinct charge upon the allegation that the defend of ants had been privately collecting notes ex ly It.must have occurred shortly after de the deed was done, for do not think that ceeding the amount of specie in the bank, on there was any one there at the time; how for the purpose of making a run upon it, on long it lasted I cannot tell it seemed to me having the notes protested, bargaining with we a notary or justice to protest them less that I had just awoke from A frightful the than the lawful fecs and subsequently dream, when to n.y horror I clemly saw it the protested Dutes with the State Treasuthat-i wasno dream, but sad reality and fro the first thought which came to my mind rer. The damages were laid at $5000, and yo the twenty-four hours of deliberwas to take my own life, and acting on that he impulse, I got ,1y gun and (ried to shoot ation, returned a verdict of one dollar for of myself; the gun would not fire, and after the bank, leaving "party to pay its own do several attempts I gry that up. I next costs. This appears to sustain the princieu thought that could accomplish my design ple, though it cannot be said that the plain pr It with Opium od recollecting hat there was liffs have made much by the operation kn some in a drawer, immediately got it, and would seem to be questionable, nevertheless, commenced eating it, as to what quantity whether it Was novan unwise experiment to my took of it know not, but from what have attempt punish A creditor for asking the co heard, I drank at least enough to have kill payment of its notes when fairly due and by ed three men; laboring under no mental payable. In this way every "run upon rangement bank would bu criminal, and it is not likely that the people tolerate such per It would be well for me

4. May 23, 1857 The Tipton Advertiser Tipton, IA
Article from The Tipton Advertiser, May 23, 1857

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Look Out, Creditors. A suit has been brought before the Hunterdon, N. J. County Court, by the Union Bank of Frenchtown, against Samuel B. lludnot and Christopher Snyder, for maliciously conspiring to draw specie from said bank, by presenting its notes for redemption, with the object of breaking the bank! The damages are laid at 5,000 dollars. It appears that Hudnot and Snyder pyocured a large amount of the notes of the bank, and by presenting them, drew out all the specie in its vaults, which was only about 2,000 dollars. Having a considerable numberof small notes left, which the bank could not redeem, the defendants had each of them separately pro tested. The bank now charges them with conspiracy to make a run upon the bank. Should the bank be victorious, it will be dangerous for a creditor to demand the payment of a bill. As far as SOME subscribers to newspapers are concerned however, the precedent will be a convenient one..--Berks Co., Pa, Press.

5. September 15, 1857 Meigs County Telegraph Pomeroy, OH
Article from Meigs County Telegraph, September 15, 1857

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Judge Warden arrived in town this morning, having completed his engagements in Southern Ohio. The Judge brings us good reports. The Republican meetings were much Barger and more enthusiastic than those held by our opponents, at which Payne and Lytle spoke. Judge Warden and Governor Chase spoke at Marietta, Pomeroy, Gallipolis, and Ironton. At Marietta meetings were held in the afternoon and evening. The meeting at Pomeroy was an extraordinary turn out. It was as large, and there was as much enthusiasm manifested, as in a Presidential election. The Republicans everywhere feel sanguine of increasing their majorities over what they gave last year, and in Gallia county particularly, the gain for the Republicans will be very large. When the cause looks so well in Southern Ohio, what may we not expect in Central and Northern Ohio?-State Journal. BANKS DISCREDITED.--Lord's Detector of the 1stinst. gives the following list of doubtful or suspended Banks, which were not included in the list we published last week: Wooster Bank, Danbury, Ct. Mercantile Bank, Hartford, Ct. America Bank, Trenton, N.J. Cataract City Bank, Patterson, N. J. Bergen Co. Bank, N. J. Union Bank, Frenchtown, N. J. Bank of Tecumseh, Mich. Macomb Co. Bank, Mich. Hancock Bank, Ellsworth, Me. JONES, the desperate burglar who shot and instantly killed officer Bebee in Columbus some three years ago while he was aiding several officers from Newark in attempting to arrest him, has finally been secured, and is safely lodged in the jail of Franklin county awaiting trial. He was ar rested in Wisconsin, where he was a member of a band of burglars and counterfeiters, and confessed the murder of Bebee to a policeman who was placed in the same cell with bim on a sham arrest for passing counterfeit money, and succeeded in gaining hisconfidence. IMPORTANT NEWS FROM KANSAS.-At a Mass Meeting of the Free State men of Kansas held on the 26th ultimo, it was decided that the Free State men WILL VOTE at the October election. They yet protest against the bogus laws under which they are compelled to vote, and also against that partial apportionment of the Territory which is intended to favor the slave power. It is thought by the Free State men that the best way to redress their wrongs, is to secure for themselves a fair representation through the ballot-box. It is also determined that the purity of the ballot-box shall be preserved at all hazards. PAYNE'S WHISKY BILL.-The Sandusky Pioneer says that "the Liquor Bill of Hon. H. B. Payne, the "Dred Scott" candidate, during the late convention, in room No. 190, in the American House, Columbus, alone amounted to $175,37." If it requires $175,37 worth of whisky to nominate a democratic candidate for Goyernor, what will be the amount required to elect him? The McArthur (Vinton Co.) Journal, of Thursday says: "Edson B. Olds and the Circus are both to be in town to-day. We rather think the show will have the largest crowd, though it would be rather difficult to say which has turned the greatest number of summersets, W. O. Dale or the Doctor. We'll bet on the Doctor, anyhow."

6. October 3, 1857 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, October 3, 1857

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From The Detroit Free Press, Sept. 30. The Fox River Bank, of Green Bay, Wis., has failed. Capital, $50,000; circulation on the 1st of July last, $25,000; securities, $10,000 Virginia 6s, $14.000 Tennessee 6e, $3,000 Missouri 63, $500 specie; total, $27,500. The Badger State Bank, of Javesville, Wis., sts. pended on Saturday. Circulation on the 1st of July last, $22,379; securities, $17,000 Missouri 68, $9,000 Tennessee 6s; total $26,000. The People's Bank, of Milwaukee, W's., close its doors on Saturday afternoon. Circulation, $19,907; securities, $20,000 Georgia 7s. $3.000 Virginia 63; total. $23,000. Total liabilities, $90,927 59. The President of the bank assures The Sentinel that the assets of the institution are amply sufficient to meet all its liabilities. The resources of the Rock River Bank, of Beloit, Wis., recently failed, are stated at $169,823 85, liabilities, $146,787 51. The Milwaukee Sentinel of Monday states that "at a meeting of the officers of our city banks, held on Saturday evening, it was decided to receive and pay out the bills of the suspended banks in this State, precisely as other currency." The Bank of Galena, Illinois, Traders' Bank Yo Indianapolis, Indiana, Union Bank of Frenchtown, N. J., and Bank of Greensborough, Georgia, have suspended. The Chicago Tribune of Monday saye: "We learn of the suspension of two pominent backing-houses in Burlington, Iowa. Our own banks stand firm, and there was not the least disposition manifested to run upon any of them." The Banks of Chambersburg, Honesdale and Middletown, Penneylvaria, are discredited at Pittsburgh.

7. October 10, 1857 Weekly National Intelligencer Washington, DC
Article from Weekly National Intelligencer, October 10, 1857

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SUSPENDED BANKS EASTWARD. The New York Sun gives the following list of Banks located east of Maryland which have suspended specie payments : MAINE. Canton Bank, China. Monsum River Bank, Sanford. Exchange Bank, Bangor. Sanford Bank, Sanford. NEW HAMPSHIRE. Exeter Bank, Exeter. Weare Bank, Hamilton Falls. RHODE ISLAND. All suspended specie payments. MASSACHUSETTS. Bass River Bank. Western Bank, Springfield. Lee Bank, Lee. VERMONT. Danby Bank, Danby. South Royalton Bank, South Stark Bank, Bennington. Royalton. CONNECTICUT. Bridgeport City, Bank, Bridgeport. Thompson Bank. Bank of Hartford County. Windham County Bank. Bank, of North America, Seymour. Mercantile Bank, Hartford. Colchester Bank, Colchester. Exchange Bank, Hartford. Pawcatuck Bank. Charter Oak Bank, Hartford. NEW YORK. Agricultural Bank, Herkimer. Island City Bank, N. Y. city. Leonardsville Bank. Bank of Canandaigua. Bank of Central New York, Utica. Mechanics' Banking Association, Bank of Lima. New York city. Bank of Old Saratoga. Medina Bank. Bank of Orleans, Albion. Niagara River Bank, Tonawanda. Bank of Watertown. Oliver Lee's Bank, Buffalo. Chemung County Bank. Ontario County Bank, Phelps. Dairymen's Bank, Newport. Ontario Bank, Utica. Farmers' and Citizens' Bank, L.I. Oneida Central Bank, Rome. Farmers' Bank, Hudson. Powell Bank, Newburgh. Hamilton Exchange Bank. Reciprocity Bank, Buffalo. Hollister Bank, Buffalo. Sacketts' Harbor Bank, Buffalo. Hudson River Bank. Western Bank, Lockport. Huguenot Bank, New Paltz. Worthington Bank. Yates County Bank, Penn Yan. NEW JERSEY. America Bank, Trenton. Bank of N. J.; N. Brunswick. Bergen County Bank. Bordentown Banking Company. Burlington Bank. Burlington County Bank. Camden Bank, Camden. Cumberland Bank, Burlington. Farmers' and Mechanics' Bank, Gloucester Bank, Woodbury. Camden. Hunterdon County Bank. Mount Holly Bank. Phillipeburgh Bank. Princeton Bank, Princeton. Salem Banking Company, Salem. Union Bank of Frenchtown. PENNSYLVANIA.

8. October 12, 1857 The Evansville Daily Journal Evansville, IN
Article from The Evansville Daily Journal, October 12, 1857

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DISCREDITED BANKS. The following IS a corrected list. todate, of recen SUSPENDED and DISCREDITED Banks: Arcade Bank, Providence, H I. America Bank, Trenton. N:J., Agricultural Bank, Tenn: Agricultural bar. K; herkiner, N. Y. Bergen County Bank N.J. Bank 01 Canandaigtta, N.Y. do Napervilie, Iii. do Beleville, de Nashville, Tennessee. do do Springfield, Ohio. do Toumseh, Michigan. do Orieans, N.Y. do New Jersey, New Brunswick, N.J. do Kent, R.I. do Halloweit, Me. do America, Tenn. do West Ternessee, Tenn. do Paris, Tenn. do Corning. N.Y. do the South County, R.I. North America, Connecticut. do do Kanawha. Virginia. do Elgin, III., S. S., small circulation. do the Capitol, Indianapolis, Indes. S. do Middleton, Penn. do Watertown, N.Y. des Chester, Li. do Eigin, do do Pike County, Ill. Central Bank, Indianapolis, Ind.,,s. Chemung County Bank, Horse Heads, N.Y.,s.s. Clinton Bank, Columbus, Ohio. Cty Bank, N.J. Cum erland Savings Institute, Md. Commercial Bank, Columbia, S. C. Citizens' Bank, Tenn. Corn Exclusive Bank, III. Charter Oak Bank, Hartford, Conn. Colchester Bank, Com. Danly Bank, Vt. Davton Bank. Ohio. Dairyman's Bank, Newport, N.Y. Ellsworth Bank. Maine. Exeter Bank. N. H. Exchange Bank. Pittsburgh, Pa Exchange Bank. Hartford, Corn. Farmers' Bank of Saratoga Co., N. Y.,s.s Farmers' and Mmmufacturer's Bank, Poughkeepsie. Farmers' Bank, Wickfort, R.1. Farmers & Mechanics' Dabs ent county, Md. Farmers and Merchants' Bar Md. Eairfie County Bank, Nor alk, Ct. Farmers N Arechanics' Buk, Detroit, Mich. Honesdale Bank, Pennsylvania. Hollister Bai k, Buffalo, N. Y.,s.s. Harcock Bank, Maite. Hugenot Bank, N.Y. H pkinton Bank, Westerly. R T. Hamilton Exchange Hank, Hamilton, N.Y. Island is Bank. Yreity, Jefferson 1 anty Bar K. N.Y. Lee Bilik, Massa have ts: Mechanics' Banking Association, N. Y., Mount Verhon Bank, Providence, R. I. Maratine Bar K, Maine. Monson River Bank. Mark Madomb County Bank, Mehigane Mechanics' Banking Association; N. Treity, Morizan Bank, Ga. Miami Valley Bar K, Ohio. Medina Bank, Medina, N.Y. Munson Bank. Mass. M rehants & Manufacturers' Bank, Pittsburgh, Pa. Mercantile Bank. Hardford, Coub. N.Y. Security Bank, N. Y. Nebraska money has been thrown out by St. Louis brokers, excepting the Banks Florence: Niagara River Bank, Tonawanday N.Y., reported failed, S.S. Ontario Bank, Utica, N.Y. Ohio Life Trust Company, lon'tissue rotés: Oliver Lee & co. Bank, N. reported failed, S. S. Ocnee Bank: Tenn. Outario County Bank, Phelps, People's Bank, N.Y city. reported failed, S: S. Paweatuck Bank, Paweatuck. Ct. Port Plain Bank, N. Y..s.s Reciprecity Bank, Buffak, N. YL. frew bank, S. Rhode Island Central Bank, R:1: Sanford Bar K/Me. Sackett's Harber Banks N. South Royalton Bank, It. Seneer County Bank, Ohio. Southern Bank, Georgia. Stock Security Bank, Illinois. Tippecanoe Bank, Logansport, Ind. Tiverton Bank, Fall River, R.I. Union Bank, Frenchtown, N.J. Unadilla Bank, N.Y. Warwick Bank, R. I. Wonster Bank, Danbury, Conn. Warren County Bank, Penn. Yates County Bank, Penn Yan, N.Y. NOTE.-"S. S." means securet by state stock. Most of these Banks will pay their circulation in full, and holders of their bills should not submit to a large discount on them.