New Hope Delaware Bridge Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 27, 1847
Location: Lambertville, New Jersey (40.366, -74.943)

Metadata

Model: gpt-5-mini
Short Digest: fe96560b

Response Measures

None

Description

The article (NY Herald 1847-12-28) states explicitly that the New Hope and Delaware Bridge Company Bank of Lambertville, N.J. has failed. No run or suspension preceding the failure is described; no receiver is named. I classify this as a suspension/closure (permanent failure) with cause unknown from the text.

Events (1)

1. December 27, 1847 Suspension

Cause Details: Article reports the bank 'has failed' but gives no specific cause (no run, no correspondent failure, no government action described).
Newspaper Excerpt: The New Hope and Delaware Bridge Company Bank, of Lambertville, N. IJ., has failed.
Source: newspapers

Newspaper Articles (1)

1. December 28, 1847 The New York Herald New York, NY

Article from The New York Herald, December 28, 1847

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Article Text

MONEY MARKET. Monday, Dec. 27-6 P. M. The news from Europe has had no prrticular effect upon the stock market. Prices were heavy at the opening this morning, but they became more bouyant before the close of the first board. Treasury Notes, Indiana b's, Reading Railroad, and Norwich, closed at prices current on Friday last. Pennsylvania 5's went up 1/4 Farmer's Loan fell off 1/4 per cent; Morris Canal, 1/; Harlem 1; Canton 1/4, and Long Island 1/a. The transactions were to some extent. At the second board, Harlem fell off 1/6 per cent: Reading 1/2, with limited sales. There has been considerable inquiry for sterling bills to day, and we quote prime bills on London, at 10 a 101/6 per cent premium. The New Hope and Delaware Bridge Company Bank, of Lambertville, N. IJ., has failed. Bill holders should not sacrifice. them, but keep them until something is known about the concern. The brokers who have been instrumental in putting them in circulation, will shave the bill holders as much as possible. A large amount of these bills must be in the hands of poor laborers, who cannot afford to hold; who must sell them at once, for the most they can get. Look out for New Jersey bank bills after this. The position of the banks in this country is by no means an enviable one. They are surrounded on all sides with difficulties, and we do not believe there is in the direction of any bank in the country, a financier of sufficient skill and experience to steer them clear of the shoals witch beset them on all sides. A demand for specie is the most fearful demand the banks can experience; and when there is no known limit, when the drain may be of such a nature as to draw every dollar from them, their safety, or their salvation, compels & suspension. Banks never fail, they suspend; and their promises to pay pass current when under suspension. We annex returns, showing the amount of specie in the vaults of all the banks in the country; the amount of circulation, deposits, and discounts at several periods:-