Binghamton Bank - Binghamton, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: August 9, 1841
Location: Binghamton, New York (42.099, -75.918)

Metadata

Model: gpt-5-mini
Short Digest: d0490880

Response Measures

None

Description

An 1841 New-York Tribune article lists the Binghamton Bank among suspended Free Banks and gives estimated probable values, implying it was suspended/closed. No run or reopening is described in the text. OCR errors corrected minimally (e.g., punctuation and spacing).

Events (1)

1. August 9, 1841 Suspension

Cause Details: Article lists the bank among suspended Free Banks and gives probable values; no explicit cause (e.g., run, correspondent failure, or government action) is stated.
Newspaper Excerpt: The Commercial Advertiser contains the following statement of the probable value of the suspended Free Banks. ... Binghamton Bank-Stock notes 72 Stock and real estate 98. The Binghamton Bank, although located nominally at Binghamton, was get up in Wall street.
Source: newspapers

Newspaper Articles (1)

1. August 9, 1841 New-York Tribune New York, NY

Article from New-York Tribune, August 9, 1841

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Article Text

.. Sales at the Stock Exchange. August 64 142 175 do Farmer's Trust 87 275 hares U. S. Bank 7 do Amer Ex Bank b30ds 143 do 871 do 175 do do 25 147 b 3ds do 51 100 do 14 50 do Vicksburg $60dys 64 do 5 do Mohawk RR 100 do 14) 30da 631 100 do do 30ds 143 25 do do 52 25 do Paterson 100 do do 108 b10ds 524 25 do Del & Hud nxt cash 108 160 do do 18 14 do NJR Road 50 do do 108 60ds 21 33 50 do Harlem RR 50 do GO 1081 do do b60d 50 24) 35 do do 108 do 24 00 do do 50 do b10ds 108 do s30ds 50 233 it 100 do do 50 do I. I-RRd 8 25 do N A Trust 30d 521 wk next do 50 do do do 8 25 523 30d do 100 do do 81 100 do 660dx 524 wk .nt 25 do do Sales after the Board. 143 175 do Harlem <60ds 23) 75 do U. S. Bank 141 50 do do Commercial and Money Matters. Saturday. P. M. About 2500 shares of all descriptions of stock were sold to-day, which is larger than the average amount of business for some days. The usual fluctuations were observed. U.S. Bank improved are per cent, Paterson 1, Harlem 1. N. Jersey 1, N. A. Trust 3, Ameriean Exchange Bank Canton fell off 1, Mohawk 1. Farmer's Trust 1, I. Island i. In State Stocks the sales were very limited: 553 $1,000 Indiana Bonds 56 5,000 do do 841 1,500 Water Loan, 1870 Indiana Bonds sold at an advance of 123 per cent. and the Water Loan of 1 per cent. Ezchange.--Foreign.-We quote bills OC London 81a81, and on Paris 5,25a5,271, which is a decline ou both descriptions. The demaad for the Western has not been very large. The rates in domestie are slightly improving. We understand the Great Western carried out about $80,000 in specie. The interest due on the 1st instant on the Illinois Bonds will be paid at the Bank of the United States. A large number of the merchants of Augusta, Georgia, have held a meeting and agreed to receive and pay out no Bank notes but at their specie value, and have pledged themselves to sustain no one for the legislature who is not pledged to repeal the 4 per cent. law. At a public meeting at Columbus, Ohio, it was resolved "that after the 7th inst. no paper should be received as money of lews denomination than one dollar, nor issues of the Bank of Circleville, chartered in 1818, the Bank of Steubenville, West Union, Bank of Cincinnati, Exchange Bank of Cincinnati, Manhattan Miami Exporting Co. and Mad River and Lake Erie Railroad, nor any issues of incorporated towns or turnpike companies, nor any other unauthorised paper. The Philadelphia Inquirer says: "The notes of the U.S. Bank have sold at a depreciation of 25 per cent. This we believe to be a worse condition than has heretofore existed since the suspension of the Bank. The truth is, the Bank is considered by many in almost a hopeless condition, and those who have so long anticipated some improvement, begin to despair. No change in the money market. Good paper can be readily negotiated at from 7 to 9 per cent. per anBUIRD" The Commercial Advertiser contains the following statement of the probable value of the suspended Free Banks. The estimate is furnished by the Comptroller. PROBABLE VALUE.-pr. ct. 86 Cattaraugus Co. Bank-Notes secured by stocks 76 By stocks and real estates 58 Bank of Western New-York 65 Mechanics' Bank. Baffalo 72 Union Bank, Buffalo 81 Bank of Commerce, Buffale 78 Bank of America, Buffalo-Stock notes 75 Stock and real estate 76 Phonix Bank, Buffalo 72 Eric County Bank-Stock notes 50a60 Stock and real estate 86 United States Bank of Buffalo 83 Merchant's Exchange Bank-Stock notes 67 Stock and real estate 73 Binghamton Bank-Stock notes 72 Stock and real estate 98 Bank of Lodi-Stock notes Stock and real estate par The Binghamton Bank, although located nominally at Binghamton, was get up in Wall street.