14266. Commercial Bank (Perth Amboy, NJ)

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 23, 1856
Location: Perth Amboy, New Jersey (40.507, -74.265)

Metadata

Model: gpt-5-mini
Short Digest: 6b7cb58b

Response Measures

None

Description

The Commercial Bank of Perth Amboy had failed earlier and was placed in receivership; receivers issued a final dividend (notice dated 1856-07-23) and later receivers (Halsted jr. and R. Green) were appointed by injunction/Chancellor (articles dated 1857-04-23/24). No bank run is described in these articles; the bank remains closed with receivers and final settlement — permanent closure. OCR errors in some articles corrected (e.g., Perih Amboy -> Perth Amboy).

Events (3)

1. July 23, 1856 Other

Newspaper Excerpt: The receivers of the Commercial Bank of New Jersey, at Perih Amboy, have issued the following notice of a final dividend: A final dividend of 40 P cent...will be paid at the State Bank at New-Brunswick, N. J., on production and surrender of such certificates from and after this date.
Source: newspapers

2. August 30, 1856 Other

Newspaper Excerpt: The Commercial Bank failed a few years since, and its concerns were placed in the hands of receivers. As the receivers have made a final settlement, the bank has no longer an existence.
Source: newspapers

3. April 23, 1857 Suspension

Cause: Government Action
Cause Details: Injunction issued to Chancery and receivers appointed by court following the bank's failure and litigation (affidavit by Thomas E. Smith).
Newspaper Excerpt: O.S. Halsted, jr., and R. Green have been appointed receivers of the Commercial Bank of Perth Amboy, on an injunction issued upon the affidavit of Thomas E. Smith.
Source: newspapers

Newspaper Articles (8)

1. July 23, 1856 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, July 23, 1856

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FROM SEPT. 1, L855. bus. bus. bbls. bbls. Corn. Wheat. Flour. C. Meal. To date. From 2,341,082 508 4,721,858 936,017 New-York. July 18, 1856 2,368.652 545,108 66,539 New-Orleans. July 4, 1856 584,716 338,545 4,195 164,116 Philaselphia, July 10, 1856. 416,889 210,979 184,856 1,1t0 Baltimore, July 10, 1856 16,460 11 10,857 Boston, July 10, 1856 115,862 95,226 21,463 Other Ports, July 4, 1856 6,342,660 5,911,716 5,814 1,383,578 Total 6,049,460 202,875 4,768 To about same period, 1855. 189 922 5,793,043 5,845,478 40,959 Toabout same period, 1,809,034 100 1,411,959 4,014,459 To about same period, 1858.1,354,411 To the Continent: bbls. Flour. bu. Wheat. bu.Corn. bu.Rye. 1,597,962 139,765 1,743,441 496,794 New-York. July 241,400 120,204 979,913 Other Ports, larest date 169,617 The Export Clearances from this port for the fortnight ending on the 18th inst., consisted of: To Liverpoot-83,663 bble. Flour, 611,101 bush. Wheat, 46,000 bush. Indian Corn. To London-60, 471 bbla. Flour, 33,763 bush. Wheat. To Glasgow-19,429 bble. Flour, 80,038 bush. Wheat. To Cork and 8 Market-7 bble. Flour. To Bristel-3,903 bbls. Flour, 10.010 bush. Wheat. To Havre--15,821 bbis. Flour, 48,399 bush. Wheat. To Douglas, Isle of Man-7 553 bush. Wheat. To Marseilies-3 bbls. Flour. To Bremen-13,509 bush. Rye. To Antwerp-20 bbls. Flour, 13,950 bush. Rye. To Gibraitar-700 bbla Flour. To Australia-1, bble Flour. 300 bble Corn Meal. To Cisplatine Republic-120 bble. Flour. To Brazil-3 379 bble. Flour. To New-Grenada-728 bole. Flour, 2,410 bush. Indian Corn. To British Provinces-2,718 bble Flour, 531 bole Corn Meal. To British West Indies- 805 bble Flour 4,022 bbls. Corn Meal, 8,772 bush. Indian Corn. 50 bbls. Rye Flour. To British Guiana-200 bbls. Flour, 600 bbls. Corn Meal. To Spar West Indies- 60 bbls. Flour. To Ctba-150 bbis. Flour, 13,450 bush Indian Corn. To Venezuela-S82 bbla Flour. From Boston-to Rio Janeiro, 1,425 bble. Flour; to British Provinces. 3,491 bble. do., 865 bble Corn Meal, 184 bble. Rye Flour, 104 bush. Corn to South America, 348 bbis. Flour; to North of Europe, 120 bbla. do.; to West Indies, 100 bole do. From Philadelphia-to South America, 2,975 bble. Flour, 1,096 bble Corn Meal, 400 bush Indian Corn; to British West Indies, 627 bble. Flour, 1,205 bbls. Corn Meal, 1,296 bush. Corn: to Danish West Indies, 1,150 bbls. Flour, 900 bbla. Corn Meal, 1,600 bush. Corn; to British Provinces, 409 bbla. Corn Meal, 383 bble. Rye Flour. From Baltimore-To Jamaica, 1,982 bbis. Flour, 930 bbls. Corn Meal, 600 bush. Indian Corn; to Montevideo, 1,851 bbla. Flour; to Antigua, 500 bble. Flour, 400 bbls. Corn Meal, 6,000 bush. Corn; to West Indies, 615 bbls Flour, 100 bb 8. Corn Meal, bush Corn: to Curacoa, 175 bble. Flour, 175 bble Corn Meal. 7,000 bush Corn; to Jamaica, 600 bble. Floor. 1,709 bble. Corn Meal, bush. Corn; to Rio Janeiro, 3,520 bbls. Flour. From New Orleans- Havre, 4,867 bush. Wheat. From Richmond-To Pernambuco 3,151 bbla. Flour. From San Francisco- To Australia, in bags, equal to 35,038 bbls. Flour, from 5th to 17th June; to China, equal to 500 bble. Flour; to New Archangel, 3,950 bble Rye Flour. The following is a statement of the business of the New-Orleans branch Mint for the month of June: DEPOSITS. $30,720 Gold deposits 186,391 Silver Deposits $217,021 Total Deposits COINAGE. $40,000 Gold coinage 270,000 Silver coinage $310,000 Total coinage The business of the Clearing-House was $19,324,000. The following interest in the annexed list of ships was sold at auction by Minturn & Partridge to-day: One eighth ship N. B. Palmer, 392 tuns, $5,050; 1 ship Hornet, 1,426 62-95 tubs, $4,750; $ship Golden State, $5,300; ship Kathay, 1,448 48 95 tuns, $7,500 1 ship Mercury, $5,850; Iship Margaret Sears, $3,650; ship Victoria, $2,600; fahip Northumberland, 2,000 1-16 ship Underwriter, $6,600; ship Robert Kelly, 1,030 tuns, $3,400; 1-16 ship Calhonn, 1,742 tube $4.350; 1-16 ship P. F. Sage, $3,100; 25 shares Nortolk and Virginia Steamship Company, $631; 50 do., $61; 185 do., $59. The ships sold very low, and much under their estimated value be fore the sale. The Annual Report of the New Albany and Salem Railroad has been published. It notices the issue last December of $500,000 of Income Bonds, with the proceeds of which it is thought the Road may be put in complete repair. The whole line is now laid with heavy T rail, save about six miles of flat iron, which will soon be removed. During the last year $386,000 has been expended in improvements. The receipts for the year ending June, 1856, liave been $730,407 The receipts for the year ending June 30, 1855, were 615,827 $84 579 67 Increase, about 12 cent 730,407 13 Total receipts for the year. 340 949 03 Expenses Net $389,458 10 Less interest on bonds, & 351,430.58 $38,927 52 Net after paying interest and expenses The receivers of the Commercial Bank of New Jer. sey, at Perih Amboy, have issued the following notice of a final dividend: n A final dividend of 40 P cent, with interest as hereinafter stated on all certificates issued by the receivers of said Bank, will be paid at the State Bank at New-Brunswick, N. J., on production and surrender of such certificates from and after this date. Said interest is ordered by the Chancellor, an 1 payable as follows: on the balance due after payment of the first divide from September 24, 1852, the date of the order therefor, and the time for confirming the issue of such certificates, to May 24, 1851, the date of the order for the second dividend-and on the balance of principal cne after deducting said second dividend from said May 24, 1854, to May 26, 1856." A letter from Pictou, dated July 14, says: Ship 'ments of Coal are limited. Up to the present time but 19 American vessels have entered this port, and 'the quantity of Coal shipped is about 22,000 chal-

2. August 26, 1856 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, August 26, 1856

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call, we notice no change, offering. money foreign advices have favorably influenced Flour the are Breadstuff The market, and the lower grades of 30. The Sales of State brands at 96 of Whest better. transactions are not try large. Holders asking Edven ed rates, with considerable including activity are shipping. About 50,000 bush. sold, $1 554 for white Southern at $1 65@ 01 66; at Canadian $1.60; red Milwankee at white lower. In at & ce. Corn is in better supply and The Provisions there is DO change of importance. wet is business in Cotton is quite inited, bus the and stendy. steady. Greeeries are is moderate demand imbusiness in Coffee and Tea is checked by perding The auction sales About 600 chds. Porto Rico sugar sold at easic. A Toledo paper states that from Wednesd by noon care Thursday ncon, last week one hundred freight depot. to Wabash Valley Railroad arrived at the This OD of the fre ight was wheat from road is a constantly increasing Part the doing business. Delphi. $27,089,000. The business of the Clearing House W 18 going to We hear of only $200,000 in gold (bars) Boston o morrow for the steamer. It is all shipped be by Mr. Bemont. It is possible the amount may increased by engagements to morrow. Mr. Nicolay sold at auction to day 180 shares Cbiriqui Improvement Company's stock at of the being a portion of the working capital This tock was introduced on the Board to day by a vote of 32 to 9. of this Company are very prospects the Company P share, Stock favorable of engineers books since The of result of the examinations of the corps the on the round has been received. and it 18 stock supnow the officers of the Company that the have sold considerably higher. of the property and prospects posed statement would by Board of The Directors: of the accessed Company has been prepared by the CHIRIQUI IMPROVEMENT COMPANY. of this Company consists of about one million and of & quarter Bocas del Toro, on the Carribena Ocean, secured by grants from the Harbor to toe The Pacific property New'Granada. of acres of land, cending the from See Re public (if and their Associates were incorporated for them by The charter from grantees the Legislature to of work Pennsylvania, the cor and the purpose on of enabling their lands; to dispose of said estab- lands, constructing other manes roads, learing lands and mines, No power li birg steamship liner, is &c. to amend the charter without the consent lands of the adjacent Company. to the Chiriqui Lagoor, found equidistant On the from San Juan and A-pinwall, some of coal the was inhabit nearly ants there thirty has years been ago, used and for by that length of time in working iron. Seviralexominations had been made by men invariable of prac the result of which was the nexhaustible. ti. al experience, the coal formation was coal lands and others,when it was be found, were secured them that A geologiet (recommended to colviction All these ceal practical might that by the supposed engigeer, Com. by pany. Siliman and Hitchcock), a mining then sent Professors nee esery number of laborers, were the work and the make explorations and commence for of out opening to the mines at the moet accessible points steam-vessele. The result of the explorations was the finding of regcoalbeds or strata, of the very best quality, and on ular ProperInland," Splitt Hill Valiente Point, on the Char garola centaic River. about three thousand acres from of land, The and island the stratum of coal running through it is feet in depth. five six at Splitt Hill is of the same thickness; on The stratum Valiente Point rather thicker, thickness. and the one that Changarola at River about seven feet The proof is positive, That the mines are inexhaustible. let. That the quality of the coal unsurpassed. is all com The 2d. by Professor Chilton shows that it analysis bustible, having seven per cent only of ashes. of the The mines are accessible by vessels of excava. largest 30. t.to within slength of the points under the tion. draught This ie shown by the char prepared direction market of the British for the Admiralty. sale of all the coal they Com- can excavate 4th. A is without competition or against the pary. The coal LOW consumed by steamers ranning to New As San Juan is sent from Liverpool, twelve dol. York pinwall and and Philadelphia, and costs generally lars per Company tun. can mine their cosl and place it at in flat-bottoaed The boats, ready for delivery to steamers, a cost ot exceeding at 88 per 80 ton perton. will of course secure a mar Sales of theowners it of all cleaners running either West to Aspinwail ke: with or San JUSD. including the British Inc Mail amount Steam-hip of concumption Line. at present Company is about The month. This amount the by 3,150 tons per uness it be considered preferable instead pteametrip must supply, owners to pay 812 per for coal. of turebasing it for the 88 exular steamers would The supplying profit of $18,900 per be this estimate does not the ichabitants of the to the Company to irregular perton. include steamers, the profits New to month. Grenada. derived give And from sales I-lands, and the Republic of Ocean by West India of coal the Pacific 3,500 The consumption and coasting steamers is about and the Ca ifornia at a cost of never less than generally #25 the Chiriqui Company can be ₽ tun. The at a cost to them not ceeding P turaper month, Coal of tun. 810 delivered 820. tun at The Papama Panama Railroa 1 Patient; Company charge mining 87 expenses 82 right P tub, from and Aspinwall freight to to Aspinwa to Chiriqui (& dis75 miles) 50c. ₽ tun. tance Shou of d about the Company, and as they Coal design there to at do. 818 establish ₽ tun, it a depot would at give Aspinwill to them a monopoly of the market, and a prefit of estimates 824,000 per are month. correct (and it is believed net that these be combatted +accessfully, the the cost they resulting from more annum. the of the regular CADDOL Company eteamers alone would furnishing be profits than to of $500,000 per stock is divided into 0 000 shares re. The capital Of this sincult the Company be have retired, $100 each. 10,000 sharee, nearly all of which will served a little over 10,000 shares to represent property and ORDER OF THE BOARD OF DIRECTORS. leaving Aug privileges. BY 25,1856. Perth Am- the New York stated that the Commercial Bank of It is to be revived. We recommend to our readers boy from its notes, or that of any other un "one-horee bank. It is quite taken to secure secured total abstinence measures the from community time the that cirsome the periodical plundering they suffer the from of ehinplasters. From t the Jacksonville been to culation Bank of Hagerstown the public have vicimmeose account by heart less become rich upon the hard timized Valley have to an emechanic earnings financiers and of the the who For upon the laboring man, bear it, poor. tradesman, those who are least able fall. to It is small all the Josees of these bank failures nearly ingent measures were adopted to prevent

3. August 30, 1856 The Daily Union Washington, DC

Article from The Daily Union, August 30, 1856

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# PRESTON COAL COMPANY This company, we learn from the Cumberland Telegraph of yesterday, which is operating on George's Creek, commenced forwarding coal to market last week. They shipped 125 tons. # LOCOMOTIVE COVERED WITH GLASS The locomotives in Germany are hereafter to be covered with a casting of glass, which will permit the engineers to survey the whole country, and at the same time protect them from the wind and cold. # EMIGRATION TO THE MESILLA VALLEY The Marion (Ala.) Commonwealth notices that a company is organizing in that town, under Mr. J. C. Reid, for the purpose of immediate emigration to the Mesilla valley. The emigrants will rendezvous at Selma, on the 1st September, for the purpose of taking the first boat for the point of destination. # NEW YORK CENTRAL RAILROAD LOAN English correspondents of Messrs. Duncan, Sherman, & Co. are understood to have taken already about $250,000 of the recent half-million seven per cent. loan of the New York Central Railroad Company. Of this they had return by the Baltic, and the bonds have gone forward. # CAUTION TO CAPTAINS OF VESSELS The schooner Aymphas C. Hall, Dennis, master, is now detained at Norfolk in custody, for the reason that while in Hampton Roads her captain informed the pilots, who wished to search her under the inspection law, that he was not going North, but was bound for Richmond. He thus saved the inspection fee; but was afterwards "taken in the act" of endeavoring to get North, and brought up by pilots. The vessel is liable to a heavy penalty if the alleged evasion can be established. LABOR IN AUSTRALIA. Advices had been received at Liverpool from Australia to the 2d of May, reporting that much complaint was made of the want of labor; the trades having combined and obliged employers to reduce their working hours from ten to eight, paying them, nevertheless, on the ten-hours scale. Female servants were extremely scarce, and much wanted. COMMERCIAL BANK, PERTH AMBOK, N. J.-The New Brunswick (N. J.) News says the charter of this bank has fallen into the hands of a party of gentlemen who are making arrangements to issue and circulate bills. It is believed such bills will be issued without the authority of law. The Commercial Bank failed a few years since, and its concerns were placed in the hands of receivers. As the receivers have made a final settlement, the bank has no longer an existence. # REPUBLICAN PALACES IN NEW YORK It is said there are not less than a dozen private residences in New York city, recently erected, which cost from $100,000 to $150,000 each, rivalling in magnificence the royal palaces of Europe, and inferior only in point of magnitude. The most elegant dwelling in the city is reported to have cost about $250,000. In one residence that has been fitted up in a most gorgeous style $54,000 was expended in four or five of the apartments—a single room being fitted up at a cost of from $25,000 to $30,000. # DROWNING OF SIX PERSONS, ALL RESIDENTS OF NEW YORK CITY The New York Commercial Advertiser states that a correspondent of the Tribune, writing from Bellport, Long Island, says that a pleasure boat was upset yesterday off that place, and six persons drowned, all residents of that city, viz: Mrs. Dr. Kempf, Mrs. J. E. D. Funk and James Funk, wife and son of Capt. Stansberry Funk, Linda Harriott, daughter of Carman Harriott, Eddie Northrup, wife of John Northrup, and a servant girl in the employ of Mr. Harriott. MARTINS. The Lexington (Ky.) Observer states that for the last few weeks the martins have made the extensive orchard of Gen. Blackwell, of Clark, a roosting place, and that millions resort there every night. They commence coming in about sun-down, and the whole heavens from that time until dark is perfectly black with them. They come in such numbers that the noise made by them is perfectly overwhelming; but at dark the noise ceases, and nothing more is heard of them until daylight, when they take their departure in every direction, to re-assemble

4. September 3, 1856 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, September 3, 1856

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The Jeff-rson County News says that the State Bark at Sackett's Harbor has suspended payment. It is an individual bank, with & circulation of about $50,000, secured by New-York and United States stocks and bonds and mortgages. We annex. below. an advertisement in regard to the resuscitation of the Commercial Bank of Perth Amboy. The public will be safe to give the bills of this bank a wide berth. There is a moderate demand for Flour, with fair ar. rivals. The low grades show a decline of 10 to 15c. bbl., and the better grades are not fully sustained. State brands fell at 85 75@36. The transactions of the day are about 10.000 bbls, with & fair demand for Wheat Red varieties are 3 to 4c. lower. Sales 40,000 bushels including Red Illinois, $1 46 a $1 48; prime White Southern 81 651; White Michigan 81 62. Corn is not active, and lower; Pork is heavy, with moderate inquiry at $19 871@820 for Mess, and $17 75 @ $18 for Prime. Other provisions are unchanged. Sugars are heavy and quiet; Refined sympathizes with Raw. Coffee is steady and in fair demand. Hidee continue very dull for the reasons before noticed. Cotton IS fairly active and unchanged. We hear of about $700,000 engaged for the steamer to-morrow, mostly bars. The State Treasurer of New Jersey has given notice that all the circulating notes issued by the Traders' Bank, at Cape May Court-House; City Bank, Cape Island; Tradeemen's Bank, Flemington; Public Stock, Belvidere, and Atlantic Bank, Cape May CourtHouse, must be presented for redemption at his office, in the City of Trenton, within six months from the 1st day of June last. After that time the balance of the redem ption funds deposited with the Treasurer will be given up to said Banks. The annexed export statistics of Breadstuffs are from the Circular of Mr. Ed. Bill. EXPORTS OF BREADSTUFFS TO GREAT BRITAIN AND IRELAND. FROM SEPT. 1, 1855. bus. bus. bble. bble. Corn. Wheat. Meal. Flour. C. To date. From 503 3,059,252 6,288,508 1,102,881 New-York, Aug 29, 1856 2,409,726 657,498 New-Orleans Aug. 16, 1856. 93,538 593,078 478,633 4,195 Philadelphia, LAug 21, 1856. 199,258 423,822 1,100 197,711 381,052 Baltimore, Aux. 21, 1856 20,469 26,882 1,013 Boston, Aug. 22, 1856 115,862 107,226 21,463 Other Ports, Aug. 15, 1856 6,622,209 7,850,012 6,816 Total, from Sept. 1, 1855. 1 635,733 309,077 4,768 6,784,555 To about same period, 1855. 172,761 Toabout same period, 1854 1,846 920 41,667 6,038,003 6,049,371 101 1,425,278 4,803,189 To about same period, 1853.1.593.901 To the Continent: Wheat. bn. Flour. be.Corn. bbls bu.Rye. 1,706,649 146,537 New York Aug. 18, 1856.560.050 1,503.914 Other Ports, latest date 178,902 985,863 127,273 246,650 The earnings of the Terre Haute and Richmond Railroad were: 39,857 95 For July, 1856 17,928 55 For July, 1855 10

5. April 17, 1857 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, April 17, 1857

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$21,488 83 Increase, 273 ¥ cent The sales of lands by the Illinois Central Railroad Company for the first fifteen days of April amount to $236,724, and the aggregate for the year thus far to $1,353,036. The business of the Clearing House was $34,300,000. Sugare and Coffees continue to advance, and other groceries are firm. Breadstuffs are quiet. Cotton is favorably influenced by advices from the South, but this is counteracted by the foreign advices. The market here is dull. Mess Pork has improved 25c. P bbl. Rice continues buoyant. The bills of the Commercial Bank of Perth Amboy which have heretofore been redeemed at par by the Union Bank, were thrown out to-day. They never should have had any currency, and the public have been abundantly warned. The Independent gives the following weekly list of failures, &c.: Norman H. Farr, Bellows Falls, Vt., failed. .S. Blanchard, Glover. Vt., failed. Bigelow, Ball & Knight, Boston, Mass. suspended. Murray & Tait, New-York City, suspended; liabilities reported $150,000. Young, Stebbins & Co., New-York City, assigned. J. V. D. Wyckoff, New-York City, failed and assigned. George B. Fairfield, New-York City, assigned. James S. Sullivan, New York City, suspended Oliver Leonard. Alton, N. Y., suspended. Charles Perry, Schaghticoke, N. Y., suspended. N. P. Rose, Green, N. Y., assigned. Louis Dennis. Johnsonburg, N. J., confessed judgments to a considerable amount. Samuel S. McCormick Philadelphia, Penn., failed. Malcolm McCload, Philadelphia, Penn., suspended; liabilities said about $25,000. Scott, Baker & Co., Penn., suspended. Samuel Mount & Co., Washington, Penn., suspended. John Shepherd, Pittsburgh, Penn., suspended. Michael Herr & Co., Baltimore, Md., suspended; liabilities reported very large. Simon A. Edwards, Cedar Keys, Fla., failed. Loomie & Campbell, Cincinnati, Ohio, suspended; liabilities said about $150,000. James Duke. Indianapolis, Ind., assigned to Mansur & Co. E. Wester, Princeton, HI.. reported in a previous issue as. signed. liabilities about $20,000," should read, assigned to W. B. Sweet, liabilities about $9,000; assets nominally, $19,000." Ferdinand Koch, Belleville, Ill., suspended. Albeitz & Wood, Timberville, Ill., suspended. Perkins & Andre, Grand Rapids, Mich., assigned to Salmon Shaw; liabilities about $35,000. T. & R. McCormick, Halifax. N. S., failed. James Hardy, St. Johns, N. B., failed. Green & Co., American Bankers, Paris, suspended. The Arabia brings us advices to the 4th inst. from London. The most important item of intelligence is the advance in the rate of interest by the Bank from 6 to 6 3 P cent, caused by the continued loss of bullion. Consols are 1/2 & cent lower. In American securities there was a moderate business doing. Illinois Central Shares had been active, but closed dull. Mr. Satterthwaite says: Business in American Securities has been inactive, with the exception of Illinois Central. Some large transactions have taken place in the shares, from 341 to 35 premium and at the close they have been done at 33; and Construction Bonds have been freely dealt in at 901@91. We note small transactions in the Bonds of the Detroit and Milwaukee Railroad at our quotations, and a moderate inquiry for New York Central and Michigan Central Bonds. Michigan Southern Sinking Fund Bonds have been done at the lowest price yet touched in this market; and confidence in the management of the line declines daily, owing to the absence of any official financial report, and the absence of any traffic returns since December. shadellans

6. April 23, 1857 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, April 23, 1857

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$23,119 07 Increase The annual meeting of the stockholders of the NewHaven Railroad Company will take place at NewHaven on the 14th May next. The deposit Bank of the Corporation-the Shoe and Leather-is, we understand, in advance a million and & half, and has declined to go on paying the drafts of the Controller. Arrangements were made to-day by the City for $100,000. and it is hoped that the drafts will now be regularly met. We hear to-day of four failures and another defalcation to the amount of about $30,000. The notes of the Exeter Bank, N. H., are thrown out to-day by the brokers. We have no change to notice to-day in Money. The supply on call is ample for all wants. Mr. Edmund A. Benedict, formerly of Albany, was to-day admitted a member of the Board of Brokers. The Boston Post says of the Money market of that city: Money is in good supply at rates heretofore quoted. For very prime paper the street price is 80 8 P cent. In Bank, the same names, payable in New-York, are taken at 7t@8 Very strong notes, however, can be had at 10a ₽ cent, and the current street rate for good bankable notes cannot be quoted as below 10 ₽ cent. Favorable paperia scarce and in demand. New-York funds arei in less abundant supply, says: The Cincinnati but the demand Gazette is of not the pressing. 20th The Money market must now be reported quite stringent, the demand, though not greatly increased, exceeding the supply of capital. The discount houses were, without exception, over-supplied with good paper from customers. This condition of affairs in bank is causing more activity in the street. We learn from the country that money is everywhere very scarce. A gentleman who has been cashier of a bank in the interior of this State for twenty years. says money has not been as scarce in this section of country within tifteen years as it is now." This is cause by the land fever. All the surplus funds-and a great deal that are not surplus-being removed West for investment in lands or paper town lots. There is 8 continued full demand for Eastern Exchange, and the market is firm at tal premium. New-Orleans quiet at previous rates. Eastern bills 101 discount for thirty, and 11a2 discount for sixty days. The Miners' Journal of Saturday has the following items relative to the coal trade: The good effects of the Coal Organization is now being felt and appreciated-without it, ruin would have stared the large mass in the face-now, everything begins to look encouraging, with a fair prospect of a good trade. The demand is increasing, and prices are already advancing. During the week, 25 cents v tun advance on the prices of two weeks ago was offered for contracts, but at present the operators very prudently decline making contracts for any large amount. The scareity of miners is being felt already in this region. We understand that a considerable number could obtain employment at good wages, payable in cash and in full every month. the miners In the Wyoming are standing region, out at for some more of the regular collieries, pay. The wages are said to be quite low in that region, and the pay in many instances very irregular. In reply to an inquiry, we state that we have not learned whether the Managers of the Schuylkill Navigation Company have acceded to the request of the Association of the Coal Operators or not. A report, we presume, will be made at the next meeting of the Coal Association, which will probably be held next week. The Honesdale Democrat states that the difficulties between the Delaware and Hudson Company and the Pennsylvania Coal Company have been amicably arranged.' O.S. Halsted, jr., and R. Green have been appointed receivers of the Commercial Bank of Perth Amboy, on an injunction issued upon the affidavit of Thomas E. Smith, whom we presume to have been the Cashier of that Bank. The situation of the Bank, according to the last statement made to the Secretary of State, dated 6th inst., was 88 follows: By this statement it appears that the capital stock subscribed and actually paid in is $60,000. That the assets of the Bank are as follows: Specie on hand actually in possession of and property $5,653.52 of the bank 20,000.00 Balance due from other banks underponies 457 00 Bank notes of other bank. and companies 80,252.22 Notes and bills discounted and bought-good 2,010.00 Other assets-plates, furuiture, be Total assets $100,357 74 And the liabilities are BM follows: 49,452 00 Notes and bills in circulation 5,032.65 Due depositors Total liabilities $54,484.65 The profit and loss account stands as follows: $8.127.00 For keon old circulation redeemed 2,000 00 For gain, surplus $6,126.91 Balance loss

7. April 24, 1857 The Washington Union Washington, DC

Article from The Washington Union, April 24, 1857

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ER A L N WS. NOVEL LAW CASE We find in the New York Evening Post the following report of an interesting case in the supreme court of that State In 1817 Paul Spofford, now one of the most prominent merchants in New York, entered into a copartner ship with Amos M. Hatch in the boot and shoe business at Haverbill, Massachusetts. In 1823 they separated and engaged in different branches of business, but there was no formal dissolution of partnership. After that Mr. Spofford grew richer, while Mr. Hatch grew poorer and in 1846 he was declared a bankrupt. In 1847 he filed a bill in the late court of chancery against the present plaintiff for an account under the partnership, founded upon an instrument under seal, dated 1829. An answer was put in, but the suit was discontinued in November, 1856 Subsequently Mr. Hatch commenced a suit in a Connect tieut court, the basis of which is the copartnership agreement. Damages are laid at the modest sum of $600,000 The complaint in the supreme court is filed by Mr. Spofford asking an injunction restraining the prosecution of any suit based on the copartnership in question. A preliminary injunction has been granted, and a motion is now pending to dissolve it. LIFE AND DEATH. -There were 1,235 deaths in London the week before the Washington sailed. The births for the same period foot up 1,838 -936 boys and 902 girls. ENORMOUS EMBEZZLEMENT. The New York papers contain the following startling account of an embezzlement practised in that city. It hardly seems possible that such protracted dishonesty could have been carried on, and it is to be hoped that he will be " wanted" by the courts of justice, and that speedily: John Mellveen, cashier of the firm of J. Beck & Co. extensive dealers in dry goods at No. 355 Broadway, was recently arrested, charged with having, during a series of years in which he has been in their employ, embezzled money to the amount of upwards of $130,000. The firm failed some months ago, and wished to ascertain the cause, if possible, of their deficiency in funds; they instituted an investigation of their books for several years past, and the discovery of the above enormous deficit in their cash account was made apparent. This account had been regularly balanced, but the balances had been forced, and the difference between the true and false balance had been embezzled. The cashier had enjoyed the fullest confidence of his employers, and until the discoveries recently made was not suspected. stated that he has made confession to his employers in regard to the disposition made by him of the embezzled funds, and has already made over to them a house and lot on Fourth street, opposite Washington Square, which he purchased with their money. It is expected, also, that considerable more property will be delivered up to them. Mellveen has always stood well in the community, and was formerly one of the commanding officers of a Scotch crack company in the city. It is stated that the failure of his employers was owing to the heavy drain made by him upon their treasury. He has given bonds in a heavy amount to appear when wanted to answer the charge against him. KANSAS RELIEF The Worcester Bay State discloses a fact which may be considered to have some little bearing on the $100.00 robbery proposed by the legislature of Massachusetts. It says There now lies upon deposite in one of the banks in our city of Worcester a sum exceeding three thousand It dollars, which was collected for the relief of Kansas. has been upon deposite for months There it has lain untouched through the winter' cold, when, if ever, suffering would seem to demand its expenditure There it still lies -to be expended probably when sedition again uprears its head, or when an election shall require the application of ready fund of corruption. 'And still, although this large sum is remaining unex. pended, the legislature of Massachusetts is called upon to appropriate from bankrupt treasury one hundred thousand dollars for the relief of Kansas Money in plenty for all the purposes of charity is even now lying idle for want of subjects upon which to disburse it and money by the tens of thousands is incessantly called for to appease the cravings which have been found not to coexist with reality. COMMERCIAL BANK, PERTH AMBOY The Trenton American says, that upon the affidavit of Thomas E. Smith, of New York, an injunction from the chancellor has been issued, and Messrs. Oliver S. Halsted, jr. and Robert S. Green have been appointed receivers. The condition of the bank, from its quarterly statement, appears to be: assets, $108,357 74; liabilities, $54,584 96. HORRIBLE ACCIDENT The workmen in a planing mill at Newport, Kentucky, last week, tied a rope around the neck of one of their number who was drunk and noisy. By some means, the end of the caught on the shaft, which was In motion. The poor fellow, now sobered by fear, shrieked terribly, as he found himself dragged towards the machinery, and felt the rope tightening round his neck. One of the hands sprung forward with a knife and severed the rope, but, in his frightened haste, did it so blunderingly that he cut the unfortunate fellow 8 throat, inflicting a deep gash, from which the blood flowed abund antly. The wound, fortunately, was not fatal. THE "GREAT EASTERN. We find in the last number of the Scientific American a description of the new steamship Great Eastern, (now being built near London,) with drawings of her machinery. It is confidently expected that this immense leviathan will be launched in July or August next, with all her engines on board, and will make her first trip to Portland, Maine, soon after. We extract the following paragraphs from the description of her The ship is novel in several important respects, aside from her very extraordinary dimensions. The length entire 680 than an eighth of mile the breadth, at the widest point, exclusive of 'the paddle-boxes, etc., is 83 feet, and the depth, from the upper deck, is 58 feet. Unlike other vessels, whether of wood or iron, she has no keel, and, strictly speaking, no ribs. The shell does not diminish in thickness or strength from the bottom upwards, like other vessels, but is of equal strength throughout, like an immense tube. The lower portion, however, up to a line eight feet above her deepest im mersion in the water, is constructed of two thicknesses or shells 3 feet apart; the space between being traversed longitudinally by 33 continuous strong and water-tight partitions, thus forming 32 separate iron chambers, each provided with suitable cocks, by which it can be filled or emptied at pleasure, to maintain the proper trim, or to ballast the vessel. There are four decks, each of which strengthens the hull laterally, in the ordinary manner, and the whole structure is crossed by strong and watertight partitions, each capable of resisting the full pressure of the water in case the hull should be damaged and either compartment filled. There are ten such transverse partitions, sixty feet apart, and the hull is, in fact, designed to be separable, by violence, into several separate vessels or sections and, in addition, there are through large portion of the distance, two longitudinal partitions, thirty-six feet apart, and extending up to the lower deck. "The Great Eastern will be impelled by both a pair of paddle-wheels and screw. The paddle-wheels are to be fifty-six feet in diameter, and to be provided each with twenty-eight paddles, thirteen feet in length and three in depth. These will be driven not simply by one engine, as is common on our coasting steamers, nor again by two, as is common on most of our ocean steamers, but by four engines coupled in pairs, one pair for each paddle-whee

8. September 10, 1857 Holmes County Republican Millersburg, OH

Article from Holmes County Republican, September 10, 1857

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Banks in bad Repute. The paper of the following Banks has been thrown out of the Eastern Banks, and they are reported "broke." It is altogether probable, though, that as soon as the present panic has subsided a little, that most or all of them will resume business again: Bank of Hallowell, Hallowell, Maine. Exter Bank, Exter, N. H. South Royalton Bank, South Royalton, Vt. Rhode Island Central Bank, E. Greenwich, R. I. Farmers' Bank, Wickford, R.I. Mount Vernon Bank, Providence, R. I. Tiverton Bank, Tiverton, R.I. Wooster Bank, Danbury, Ct. Commercial Bank, Perth Amboy, N.J. Bergen, County, N.J. Sacketts Harbor (or Reciprocity.) Buffalo Hollister Bank, Buffalo. Chemung County Bank, Horseheads.