14132. Farmers & Mechanics Bank (New Brunswick, NJ)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
October 6, 1846
Location
New Brunswick, New Jersey (40.486, -74.452)

Metadata

Model
gpt-5-mini
Short Digest
2af7c415

Response Measures

None

Description

Articles (Oct 6–8, 1846) report that the bank is in receivership and the receivers are paying dividends on certificates; no mention of a depositor run. Receivership was ordered by the Chancellor (court), so the bank suspended and was closed with a receiver appointed.

Events (2)
1. October 6, 1846 Suspension
Cause
Government Action
Cause Details
Court-ordered receivership (notice references order of the Chancellor).
Newspaper Excerpt
The Receivers of the Farmers' and Mechanics Bank of New Brunswick will pay on demand, their office in New Brunswick, N. J. a dividend of ninety cents on the dollar upon the certificates issued by them, on presentation of said certificates by the holders thereof.
Source
newspapers
2. October 7, 1846 Receivership
Newspaper Excerpt
The Receivers of the Farmers and Mechanics Bank of New Brunswick have made a dividend of nine cents on the dollar on the certificates issued by them for the notes of that Bank.
Source
newspapers

Newspaper Articles (3)
1. October 6, 1846 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, October 6, 1846

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Article Text

Boarding. some rooms now vacant, at No. 81 Chambers.st ROOMS AND BOARD. A suite of three fourth hand house from Broadway. west side, being 2d story front and back rooms, and small room attached. together or seperate, furnished, for gentlemen. or families without children. Hot and cold water baths. House genteely furnis's ed. pleasant society, and every effort made to please. Call It from 11 to 1. and from 4 to b o'clock WANTED-Agentlan is desirous of proBOARD Decuring S pleasant room, with partial board. in the upper part of the City, in some respectable private family where there are no boarders Reference exchanged. Address 06 3t L. R. W Tribune Office DOARD.- or two persons of respectability can B have full or partial board on moderate terms, with pleasant rooms. Inquire at 86 White-st. near Broadway. 292wis* References required. OARD-Two or three single gentlemen can be accomB modated with good board in a private family at No.9 Walker-st near Broadway References exchanged OARD, with pleasant rooms. may be had by making B application at 63 Franklin-st third door from Broad 06 iw way. or at 30 Greene-st. EDWARDS LESTER. American Consul at Ge C. nos. requests all his friends and correspondents to for ard their communications to him through Harnden & Co.'s Express. Wall-st pre-paid or they will not be for06 6m warded. NOTICE. The Receivers of the Farmers' and Mechanics Bank of New Brunswick will pay on demand, their office in New Brunswick, N. J. a dividend of ninety cents on the dollarupon the certificates issued by them, on presentation of said certificates by the holders thereof.J. SPADER, By order of the Chancellor. JOHN VAN DYKE 05 1w WILLIAMSRORGULE FIRE Insurance Company, No 74 Wall-st and Grand-st. WilliamsDIRECTORS barg. Samuel Willets, Frederick W. Favre, Washington Post, Van Boskerck Nicholas Wvekotf. A.T. Van Boskerck. William Laytin, Andrew C. Benedict. Jeremiah Johnson, Francis Du Bois Thos. McEirath, Samuel H. Clapp, Lemuel Richardson. WASHINGTON POST. President A. B. HODGES Secretary. B The above Company continues to insure Merchandise, Dwelling Houses and Furniture, against losses by Fire on terms as favorable as any other responsible Company. All losses sustained by this Company are promptly and an30 2awis2m liberally settled. 10,000 DAMAGED WINDOW SHADES, WINDOW SHADES SUBSCRIBER, having lately returned from Eu THE and just received a large quantity of transparent Window Shades. on examination finds they are damaged. respectfully invites the attention of the public to an examination thereof. as they will be -old out without reserve. EDWARD WAMSLEY, No. 20 Catharine-at near Chatham-aquare. aliwis SPOONS.-Patent Britannia Table and Tea Spoons, with steel handies. very strong, very neat. and, withal, very cheap-for sale by the case and at retail, 05 9 at Burling-3 by BOARDMAN & HART. DLASSES-CUPS.-The Buckwheat Cake season M 18 approaching, and the demand for Molasses-Cups has commenced Call in season for them at Burling-slip. 05 31 BOARDMAN & HART. For sale by offers PIG IRON-JAMES N. OLNEY, West-st, for sale Scotch and American Pig Iron. various brands and qualities. Pig and Bar Iron stored on favorable 88 T&Fiel terms. TEEL PENS.-Selling Od -The large stock of C. Sc. Wrights Co.'s Premium Burnished PointSteel Pens, to close the business, will be sold by the single gross at less than former wholesale prices. Inducements offered to those who buy to sell again at No. 2 Barclay-st. (Astor 3 4tiseod* House.) WALTHAM COTTONS- packages 7-8, 44 Sheet- and and 34 bleached and unbleached Shirtings and ings, from the Waltham mills, for sale by 06 NESMITH & CO. 50 and 52 Pine-st SHBURTON COTTON FLANNELS-50 cases facASHR extra heavy Canton Finnels, from the Ashburton tories, for sale by NESMITH is CO. 50 and 52 Pine-st. HERIFF SALE.-33 virtue of several writs of Sieri facias to me directed and delivered, will expose for sale at the restibule of the City Hall. in the City of New. York, on the 17th day of November next at 12 o'clock. M. all the right, title and interest of Samuel S. Wandell, which be had on the 21st day of April, 1846. or at any time afterward. in whose hands soever the same may be, of in and to all that certain lease of four lots of land, simated, lving and being on Thirty-third-street, on the Southerly side commencing one hundred feet West of the Westerly side of the Ninth-avense, running thence along the Southerly line of Thirty-third- one hundredfeel, being less, a plot one hundred feet square, be the same more or with all and singuir the appurtenances and hereditaments thereunto belonging or in any wise appertaining, said lease being for the the term of 400 years from the date thereof.Dated New-York October 5. 1846 WM. JONES. Sherid. 06 66w W. W. LYON. Deputy Sheriff DRITANNIA PITCHERS.-A new supply of our Britannia Pitchers, assorted sizes, with and

2. October 7, 1846 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, October 7, 1846

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COMMERCIAL AND MONEY MATTERS. For sales of Stocks, &c. see Fourth Page. TUESDAY, P.M. The Stock market continues to have a downward tendency and the transactions are only to moderate ex tent There is very little disposition to operate either as buyers or sellers. The Foreign Bill market is still dull although steamer day is near at hand. Sterling is plenty and sellinfat81@9-Franes 5.30@5.283. The large exports of produce more than supply the deficiency of bills arising from short exports of Cotton, and the quantity offering exceeds the demand. Freights are moving upward, and the packets and transient ships ou the berth are engaged nearly full. Flour has been taken for Liverpool at 3s and Grain at 10s, which is an advance on both. To London 48 for Flour is asked. This firmness in freights and scarcity of vessels ready to receive loading has a tendency to arrest operations in Flour, Grain, &c. Flour to be delivered three weeks hence will bring 12) cents per barrel more than on the spot. Mr. Walker. the Secretary of the Treasury, returns to Washington to night we understand, entirely unsuccessful in his financial mission. He would give but 5percent interest. The Banks asked 6 per cent on Treasury Notes receivable for public dues. The Banks can lend all their means to their regular customers and there is no reason that they should make a loan to Gov. ernment at any thing less. A Government which has Bade the destruction of the Banks a chief object of its policy, comes with a poor grace as a suppliant to those Banks and can at any rate expect no special favors.Probably the remaining deposits here will soon be drawn out We learn that the deposit Banks are and have been time fully prepared to meet such a movement. The story that large amounts of specie have recently tean drawn from our Banks and sent to Washington, we reason to believe is without foundation. The amount received for tolls on all the New York State Canals. during the last week in September is $113,842 113,178 Same period in 1845 $664 Increase The aggregate amount received for tolls from the commencement of navigation to the 30th of September, in$1,891,165 clusive, is 1,753,100 During the same period in 1845 $138,065 Increase Mr. Butler, the Agent of the Indiana Bondholdretree in the Hibernia. We understand that he met with a very favorable reception from the foreign bondholders and that there is no doubt that the arrangemeat will be carried out and the Canal finished. The Receivers of the Farmers and Mechanics Bank of New Brunswick have made a dividend of ninecents on the dollar. on the certificates issued by them for the notes of that Bank. The Housatonic Railroad has declared a dividend ( Non each share of the preferred capital stock which was.full paid on or before the 10th April last,and a pro rata dividend, or $2.50, on each share on which the installments have been sever rally paid as assessed. The Banks in Salem have declared a semi annu dividend of 3 per cent. excepting the Salem Bank, which is 2 per cent. village Bank. Danvers, 2 per cent Total amount of dividends in Salem. $50,020. Last April, $31,020. The Banks of Portland have declared the followManufacturers' and Traders Bank, 4 per cent: CaBank 2, Casco Bank 3. Merchants' Bank 4, Bank of Camberland 34. The Marine Bank of Baltimore has declared 8 diskland of 3 cent for the last year. per half The Cincinnati Chronicle states that receipts on Mad River Railroad are already at the rate of eighty thousand dollars per annum. The receipts of the Little Xami Road and the Mad River together, are now, in Seis unconnected state, two hundred thousand dollars annum. Bicknell's Reporter says: Our Money market continues easy. First rate paper is readily negotiated at percent. The Banks complain of a want of applicaN times the right kind. This condition of affairs exhibits wonderful change within a few weeks but we think it probable that before January, as great a change will place the other way-and that money will be in active demand. The Fall trade is still progressing, opinion is almost universal that, in the aggregate, twill prove quite moderate. It is supposed that the Company chartered last water for the purpose will buy the Southern (Mich.) Railroad at $500,000. They have 60 days after the decis-

3. October 8, 1846 The New York Herald New York, NY
Article from The New York Herald, October 8, 1846

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Article Text

MONEY MARKET. Wednesday, Oct. 7-6 P. M. The stock market continues very dull and heavy, and prices very much depressed. Some of the fancies improved a fraction to-day, and some fell off Harlem went up 1/a per cent; Norwich and Worcester, 1/4 Canton, % Long Island fell off 1/6, and Reading Railroad and Pennsy Ivania 5'8 closed at yesterday's prices. We see no probability of any immediate improvement in the stock market, but on the contrary there are many things in the prospective likely to depress prices to a still lower level The receivers of the Farmers' and Mechanics' Bank of New Brunswick, N.J., we hear, will pay a dividend of 90 cents on the dollar upon the certificates issued by them. The following banks in Portland, Maine, have de. clared semi-annual dividends -Merchants', 4 per cent; Manufacturers' and Traders, 4; Cumberland, 31/2; Casco, 3; Canal, 2. The several banks in Salem, Mass, have declared a semi-annual dividend of 3 per cent, excepting the Salem Bank, which is 2 per cent. Village Bank, Danvers, 2 per cent. Total amount of dividends in Salem, $50,029. Last April, $51,020 Decrease $1,000. The Bunker Hill Bank of Charlestown, Mass., has declared a semi-annual dividend of four per cent. There has not as yet been a very active demand for foreign exchange. The supply in the market is large, and we have no doubt drawers will be satisfied with lower rates than those ruling by the last packet. We now quote bills on London, 81/2 a 9 per cent premium; On Paris, 5f 30 a 5f. 28% Amsterdam, 39 a 3914; Ham. burburg, 35 a 351/4; Bremen, 78 a 7814. The Taunton Bank of Massachusetts, has declared a dividend of four per cent, for the last six months. The receipts of cotton at Boston, for the year ending October 1st, 1846, exceed those for any previous year by nearly ten thousand bales. The receipts for each of the past twelve years were as annexed:QUANTITY OF COTTON 1846