Mechanics Bank - Paterson, NJ

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 12, 1835
Location: Paterson, New Jersey (40.917, -74.172)

Metadata

Model: gpt-5-mini
Short Digest: 63e51866

Response Measures

None

Description

Article (Herald, 1837-04-24) reports Mechanics' Bank of Paterson was a broken concern and on 1835-06-12 placed in the hands of Receivers with no payments since — indicates suspension and receivership (permanent closure). OCR in headline spelled 'MICHANICS''; corrected to 'Mechanics''. No run is mentioned.

Events (2)

1. June 12, 1835 Receivership

Newspaper Excerpt: placed in the hands of Receivers, Asa Whitehead, Aaron S. Pennington, Silas Condict. Since that date no report has been given-no payment of the notes made to the holders.
Source: newspapers

2. June 12, 1835 Suspension

Cause: Government Action
Cause Details: Bank declared insolvent/broken and placed in hands of receivers (court/official receivership).
Newspaper Excerpt: The Mechanics' Bank of Paterson, a broken concern, was on the 12th June, 1835, placed in the hands of Receivers, Asa Whitehead, Aaron S. Pennington, Silas Condict.
Source: newspapers

Newspaper Articles (1)

1. April 24, 1837 The Herald New York, NY

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Article Text

THE FIRST CALL-MICHANICS' BANK OF PATERSON.-The Mechanics' Bank of Paterson, a broken concern, was on the 12th June, 1835, placed in the hands of Receivers, Asa Whitehead, Aaron S. Pennington, Silas Condict. Since that date no report has been given-no payment of the notes made to the holders. What has became of the assets ? Have Asa, Aaron, or Silas, been shaving at three per ceat with the proceeds? How long is the public to be kept out of their property? Is there any honesty in Paterson ? This is the first call-the second will be louder and sharper. Take heed, sinners. SNOW!-It snowed quite merrily all yesterday afternoon. We do want something to cool in New York. AMUSING CORRESPONDENCE.-Somebody has sent us a curious correspondence between Count Fitzgerald, a distinguished foreign nobleman in this city, and F. Blancard, of the Globe Hotel, relative to certain points in gastronomy, money matters, the pressure, paying of bills, &c. &c. What shall we de with it The Maitre d' Hotel of the Globe is quite a diplomatist, having placed the Count in the vocative. BUTCHERS' MEAT.-The fat butchers of Fulton and Washington markets are kicking up a great noise about the Bull's Head, Daniel Drew, and the forestallers. This is merely a ruse de guerre to turn aside the public from requiring of them a fall in the price of meats. It will not take. The butchers must bring down prices, as well as the bakers, grocers, and flour dealers. The public will not be humbugged by a few windy resolutions about Daniel Drew and the Bull's Head, instead of cheap beef. The butchers can now afford to take off four to six cents. Nevertheless, the public will be satisfied with three eents till May-bat down prices must come. We shall probe this business to the bottom. WESTCHESTER BANK NOTES.-Notes of all denominations on the Westchester County Bank will be redeemed at par at the Merchants' Exchange Bank, of this city. ABOUT IT, AND ABOUT IT.-A new edition of the Letters about the Hudson," is coming out soon. A few choice letters about the ladies would please us better. Why won't the author "about the Hudson" try what be can do about the ladies IT BOWERY BEAUTIES.-If you want to see very beautiful young girls, smiling, rosy, sweet, neat, as good as pretty, go to the Bowery on a Sunday afternoon, when the sun shines and the churches are going in or coming out. That's all. A STATE PRISON OFFENCE.-The Globe calling the Herald an opposition paper. MR. H. RUSSELL, assisted by Mrs. Franklin, Mrs. Scott, and Mr. Edwin, gives a concert at the Brooklyn Lyceum tomorrow evening. Mr. Russell is a popular vocalist, and our friends over the water will be delighted with the entertainment. Mr. Lyons, keeper of Bellevue prison, called on us yesterday morning to correct a statement which appeared in our paper last week, relative to the prevalence of fever in that establishment. Mr. Lyons states there have been but two deaths, (blacks,) and one white (the unfortunate McDoneugh, imprisoned for the attempted murder of his wife) since last fall.The prison is at all times open for the inspection of visiters, and all desirous of doing SO are invited to call. There is at present but one (a negro) on the sick list. OFA gentleman may do an ungentlemanly action but he never fails to make reparation. On the contrary a man who is no gentleman after doing an injury, persists in it, and even adds further insult rather than confese himself in the wrong. D Will the resident physician, or the board of health, tell us how many people have died of the grippe? how many there are who are now sick and dying of the same disease of those who composed the crew and passengers of the ship Florida, recently arrived from Liverpool? Where's the beautiful Miss Grove? We have a delicious and romantic tale to tell of that charming actress. Where is she? THE PRESSURE.-The Bowery, Franklin, and Park theatres are well filled every night. Awful times! How TO LOSE HEADS, BRAINS AND INTELLECT.Take repeated doses of Brandreth's pills. Neither the Booksellers' Festival, nor the semicentennial celebration of Columbia College, are forgotten. By and by boys. The Burning of the Westchester. The following part COPY of a letter received ves-