14131. Farmers & Mechanics Bank (New Brunswick, NJ)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 15, 1844
Location
New Brunswick, New Jersey (40.486, -74.452)

Metadata

Model
gpt-5-mini
Short Digest
041302f6

Response Measures

None

Description

Articles (1844–1845) describe the Farmers & Mechanics Bank of New-Brunswick as being in the hands of receivers and subject to foreclosure proceedings; no run is mentioned. The bank appears to have been closed and in receivership (permanent closure) prior to 1844. I classify this as a suspension leading to closure (receivership).

Events (3)
1. June 15, 1844 Receivership
Newspaper Excerpt
The Receivers of the Farmers' and Mechanics' Bank of New-Brunswick, N. J. have had in hand for more than two years sufficient to pay a dividend to the creditors of that Bank. and yet to this day not a word has been heard from them. and not a dollar do they shell over.' The Philadelphia papers say the certificates given for the bills are selling for sixty cents on the dollar, and the report is, the Receivers are buying them up. This, probably, is preparatory to a dividend,
Source
newspapers
2. March 11, 1845 Other
Newspaper Excerpt
CHANCERY OF NEW-JERSEY.-Between PETER I SPADER and JOHN VAN DYKE, surviving receivers for the creditors and stockholders of the Farmers and Mechanies' Bank of New-Bronswick, Complainants... on motion of John Van Dyke. Solicitor of the complainants by this order directed by the Chancellor. that the said absent defendants do appear, plead, answer or demur, to the complainant's bill, on or before the first Tuesday of April next, or that in default thereof, such decree be made against them as the Chancellor shall think equitable and just.
Source
newspapers
3. * Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was insolvent or otherwise failed and placed in receivership; receivers holding assets for creditors for years prior to 1844.
Newspaper Excerpt
The Receivers of the Farmers' and Mechanics' Bank of New-Brunswick, N. J. have had in hand for more than two years sufficient to pay a dividend to the creditors of that Bank.
Source
newspapers

Newspaper Articles (3)
1. June 15, 1844 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, June 15, 1844

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Article Text

BANK ITEMS-[From Thompson's Reporter.] The Receiver of the Bank of Oswego has made a dividend of twenty cents per dollar on the claims which have been presented to him. This dividend is payable at the office of Charles Stebbins, Esq., Cazenovia. N. Y. We believe it is now seven years since the assets of the Guildhall Bank, Vt. passed into the hands of Receivers. and from that day to this not n dollur, net even 21 statement at what they have collected or what they have done. has been furnished to the creditors. The Receivers of the Farmers' and Mechanics' Bank of New-Brunswick, N. J. have bad in hand for more than two years sufficient to pay a dividend to the creditors of that Bank. and yet to this day not a word has been heard from them. and not a dollar do they shell over.' The Philadelphia papers say the certificates given for the bills are selling for sixty cents on the dollar, and the report is. the Receivers are buying them up." This, probably, is preparatory to a dividend, The notes of the Central Bank. Hallowell, Me. are coming to this CI'S from the extreme Western cities of the Union, in packages and parcels. showing conclusively that there 15 a game playing-* n word to the wise," &c. In our list it will be seen that this Bank has been quoted doubtful (D.) for a long time.

2. March 11, 1845 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, March 11, 1845

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Article Text

CHANCERY OF NEW-JERSEY.-Between PETER I SPADER and JOHN VAN DYKE, surviving receivers for the creditors and stockholders of the Farmers and Mechanies' Bank of New-Bronswick, Complainants, and JOHN LORIMER GRAHAM, and EMILY M. GRAHAM. his wife, Defendants.-On Bill to foreclose-It appearing to this Court that the complainants have filed their bill in the above cause, and that process of subporna to appear and answer. directed to the defendants, hath been regularly issued, returnable to the Term of January, A. D. 1815, but that the defendants could not be found in this State, to be served therewith, and have not caused their appearance to be entered as in case such process had been duly served, and it being made to appear by affidavit to the satisfaction of the Chancellor, that the said defendants do not reside in the State of New Jersey, but in the City of New.York, It is thereupon on this thirteenth day of February, in the year of our Lord one thousand eight hundred and forty-five, on motion of John Van Dyke. Solicitor of the complainants by this order directed by the Chancellor. that the said absent delendants do appear. plead, answer or demur, to the complainant's bill. on or before the first Tuesday of April next, or that in default thereof. such decree be made against them as the Chancellor shall think equitable and just. And it is further or. dered. that this order shall, within twenty days thereafter, be served personally on the said defendants by a delivery of a copy thereof to them or be published within the said twenty days in the Fredonian, a newspaper printed at New-Brunswick, in this State, and continued therein for six weeks successively, at least once in every week: and also within and for the same length of time in the NEW-YORK TRIBUNE, a newspaper printed in the City of New-York O. S. HALSTED C. A true copy. 18f law 6w S. R. GUMMERE. Clerk.

3. March 25, 1845 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, March 25, 1845

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Article Text

CHANGERY OF NEW JERSEY - -Between PETER I SPADER and JOHN VAN DYRE, surviving receivers for the creditors and stockholders of the Farmers and Me chanies' Bank of New-Brunswick Complainants, and JOHN LORDMER GRABAM, and EMILY M. GRAHAM, his wife. Defendants.-On Bill to foreclose-It appearing to this Court that the complainants have filed their bili in the above cause. and that process of subprena to appear and answer, directed to the defendants, hath been regularly issued. returnable to the Term of January. A. D. 1845, but that the defendants could not be found in this state, to be served therewith and have not caused their appearance to be entered as 10 case such process had been duly served, and it being made to appear by affidavit to the satisfaction of the Chancellor, that the said defendants do not reside in the State of New Jersey. but in the City of New-York, It is thereapon on this thirteenth day of February, in the year of one Lord one thousand eight hundred and forty-five, on motion of John Van Dyle. Solicitor of the complainants by this order directed by the hancellor. that the said absent defendants do appear, plead, answer or demur. to the complainant's bill, on or before the first 1 Tuesday of April next. or that in default thereof, such decree be made against them as the Chancellor shall think equitable and just And it is further or. dered. that this 0 der shall. within twenty days hereafter, be served personally on the said defendants by a delivery of a copy thereof to them or be published within the said twenty days HI the Fredonian, a newspaper printed at New-Brunswick. in this State, and continued there in for six weeks successively at least once in every week: and also within and for the same length of time in the NEW-YORK TRIBUNE, a newspaper printed in the City of New-York A true copy. O. S. HALSTED C. R GUMMERE. Clerk. 12f law fiw