14130. Farmers & Mechanics Bank (New Brunswick, NJ)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 23, 1841
Location
New Brunswick, New Jersey (40.486, -74.452)

Metadata

Model
gpt-5-mini
Short Digest
b08519aa

Response Measures

None

Description

Newspapers report the Farmers' & Mechanics' Bank of New Brunswick closed by injunction and receivers appointed by the Governor. No run or depositor panic is described. Receivers were named (Peter Spader, David W. Vail and John Van Dyke). Dates are early 1841. I infer state charter because the governor appointed receivers.

Events (5)

1. January 23, 1841 Suspension
Cause
Government Action
Cause Details
Closed by injunction from the Chancellor (court order) leading to suspension of payments and closure of doors.
Newspaper Excerpt
has finally suspended payment; and its doors were closed on the 23d inst. by an injunction from the Chancellor
Source
newspapers
2. February 6, 1841 Receivership
Newspaper Excerpt
The Governor of New Jersey has appointed Peter Spader, David W. Vail and John Van Dyke, receivers of the institution above named.
Source
newspapers
3. May 15, 1841 Other
Newspaper Excerpt
All claims against the defunct Farmers' and Mechanics' Bank of New Brunswick, N. J., must be presented within six months from the 21st inst., or they will not be allowed. So say the Receivers.
Source
newspapers
4. October 14, 1841 Other
Newspaper Excerpt
The bills of the Farmers and Mechanics Bank of New Brunswick N.J. must be handed to the receivers previous to the 21st inst., or they will not be entitled to a dividend, and will be after that valueless.
Source
newspapers
5. February 9, 1842 Other
Newspaper Excerpt
The time for the presentment of the bills of the Farmers & Mechanics' Bank of New Brunswick has been extended to three months from the 26th ult., after which time they will not be paid by the Receivers.
Source
newspapers

Newspaper Articles (5)

Article from Jeffersonian Republican, February 5, 1841

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Article Text

The Farmers' & Mechanics Bank of New Brunswick, We lament to say, says the N. B. Fredonian, has finally suspended payment; and its doors were closed on the 23d inst. by an injunction from the Chancellor, Receivers are expected to be appointed this day. The Directors are of opinion, we understand, that the assets of the Bank are sufficient to meet its circulation whieb is near 90,000 dollars. The Bank owes or nothing to depositors.


Article from The Columbia Democrat, February 6, 1841

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Article Text

Farmers' and Mechanic Bank of New Brunswick.- - The Governor of New Jersey has appointed Peter Spader, David W. Vail and John Van Dyke, receivers of the institution above named.


Article from Sunbury American and Shamokin Journal, May 15, 1841

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Article Text

BANK AT NEW BRUNSWICK.-- All claims against the defunct Farmers' and Mechanics' Bank of New Brunswick, N. J., must be presented within six months from the 21st inst., or they will not be allowed. So say the Receivers.-Spirit of the Times.


Article from New-York Tribune, October 14, 1841

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Article Text

material variation. 89 10,000 State 51's 46. 6,000 Indiana Bonds 46 SIR do do 3,000 -60 46 do do 1,000 46 s. do do 1,000 46 de do 3 000 15 46: do do 3.00 85 2.000 Canal Fives, 1855 81 2 000 Kentucky Sixes 441 3.000 Illinois Sixes, 1870 snw 443 do do 2,000 1.60 44: do do 10.000 A sale of 2,000 overeigns was made at the boa d at $4 851 The sales of sterling bills -day have not been largeprincipally at 10 per cent. France 517 a 5.183-most y at the latter rate. The Liverpool packet takes out only about $35,000 in pecie. The Committee appointed to examine the affairs of the Harlem Railroad are to make a report to morrow night to an adjourned meeting of the stockholders Iti runo ed IN the street that it will be more favorable than was an ticipated. and that no easure will be cast upon the offi cers, excepting a luck of judgement in the conduction of the affairs of the Company. This, however, imay be one of the stock-jobbing rumors circulated by the bulls to of fact the stock, which is just now the principal speculative fancy at the Board. The reports that a greater number of shares has been issued than there was authorized will also, it is said, be disapproved. We give these items as the rumors of the day. A portion of the Teas imported in the Akbar was offered it auction to day by Hoffman & Co. The Company was large. and a better feeling was exhibited than at the previous sales. Some chops Young Hyson sold at an ad vance of 1 to 3d per lb., and the entire sale supported the market. The country Young Hyson was stopped at 61c and the Carton made at 42c, only one chop of the latter being sold. Nearly the whole parcel was sold. The bills of the Farmiers and Mechanics Bank o New Bruaswick N.J. must be handed to the receivers previous to the 21st inst., or they will not be entitled to a dividend, and will be after that valueless. B. the official statement of the situation of the Farmers and Mechanics Bask of Michigan, it appears that the cir$49,752 culation is 23,700 Deposites 3,472 Due Banks $76,9.4 Immediate Liabilities $10.76 Specie 7,43 Bauk Notes 4,927 Due from Bank $25,147 Immediate Assets


Article from Jeffersonian Republican, February 9, 1842

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Article Text

The time for the presentment of the bills of the Farmers & Mechanics' Bank of New Brunswick has been extended to three months from the 26th ult., after which time they will not be paid by the Receivers. Those having bills on that Bank would do well to present them immediately. The Receivers are Peter Spader and John Van Dyke.