14942. Bank of Buffalo (Buffalo, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
May 4, 1837
Location
Buffalo, New York (42.886, -78.878)

Metadata

Model
gpt-5-mini
Short Digest
b8666886

Response Measures

None

Description

Articles (May 1837) report that the Bank Commissioners obtained injunctions restraining operations of three Buffalo banks (Commercial Bank of Buffalo, City Bank of Buffalo, and Bank of Buffalo). These are described as suspensions by injunction (government action). No run is described in the pieces provided and no reopening is mentioned; classified as suspension_closure as the most likely outcome from a commissioner injunction in this context. OCR errors corrected (Buffalo spelled variously 'Buffulo').

Events (1)

1. May 4, 1837 Suspension
Cause
Government Action
Cause Details
New York Bank Commissioners obtained injunctions restraining operations of the Bank of Buffalo (alleged charter violations).
Newspaper Excerpt
the operations of all the banks at Buffalo will by this time have been suspended by injunction, issued at the instance of the Bank Commissioners
Source
newspapers

Newspaper Articles (3)

Article from Lynchburg Virginian, May 15, 1837

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Article Text

From the New York American. The names of these banks, three in number, are, the Commercial Bank of Buffulo, the City Bank of Buffalo, and the Bank of Buffalo. A bill was introduced into the Senate vesterday providing for the immediate payment out of the bank fund, of the bills of any bank whose operations were suspended by the Bank Commissioners. The bill was framed with reference to the Buffalo bank, and will doubtless become a law to-day. So that there is no cause for alarm or sacrifice among the holders of these bills.


Article from Staunton Spectator, and General Advertiser, May 18, 1837

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Article Text

The Bank Commissioners of the State of New York have obtained an injunction to stop the operations of three of the Banks of Buffalo-the Commercial Bank of Buffalo, the City Bank of Buffalo, and the Bank of Buffalo-on the ground that each of these institutions has violated its charter. The fact is thus announced in a slip from the Albany Argus : From the Aibany Argus, Extra, May 5-4, P.M. We understand that the operations of all the banks at Buffalo will by this time have been suspended by injunction, issued at the instance of the Bank Commissioners, on the ground of alleged violations of charter by each of them. It is deeply to be regretted that any thing should occur to render proceedings against any of the banks necessary at this time, when there are so many other circumstances calculated to agitate the public mind.--Mr. Stebbins, one of the Commissioners, who has lately visited these banks, is now in the city, and we understand from him, that neither of the institutions is proceeded against on the ground of insolvency, and that he has no apprehension that the public, or the safety fund, can in any event sustain any loss by them. On inquiry, we learn that the course of proceedings by the court in such cases, is in the first instance, to issue a temporary injunction, restraining the operations of the bank, except receiving payments, until a short day appointed for the bank to show cause way a permanent injunction should not issue, and that in this instance, cause is to be shown before the Chancellor on the 4th Monday ol the present month. We indulge the hope that these banks will be able to show sufficient cause to prevent further proceedings against them, and in the mean time hope that no sacrifices will be submitted to by the holders of bills, which we have no doubt are abundantly safe and that the other banking institutions of this state will continue to enjoy, as we have no doubt they deserve, the public confidence. The New York American says that a bill was introduced into the New York Senate on Friday, providing for the immediate payment out of the Bank Fund, of the bills of any bank whose operations were suspended by the Bank Commissioners, This bill was framed with reference to the Buffalo banks, and will doubtless become a law. So that there is n.o cause for alarm OF sacrifice among the holders of these bills.


Article from Richmond Palladium, May 20, 1837

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Article Text

ve atrocities as the following, which th we copy from the Louisville Journal, and the es increasing frequency of brutal outrage, fills y the mind with shame, regret and distressing r apprehensions of future evil. on We have derived from a respectable travoleller the particulars of one of the most attroat cious and horrible occurrences that ever disis graced the annals of human life, civilized or of savage. A feeble bodied man, whose name Id we did not learn, settled a few years ago on nthe Mississippi, a short distance below Ranct dolph, on the Tennessee side. He succeeded to in amassing property to the value of about e $14,000, and, like most of the settlers, made fa business of selling wood to the boats.r This sold at $2.50 a cord, while the neighet bors asked S3. One of them came to remonstrate against his underselling, and had a fight with his brother-in-law, Clark, in which he was beaten. He then went and obtained legal process against Clark, and returned with a deputy sheriff, attended by a posse of desperate villians. When they arrived at Clark's house he was seated among his children, and they instantly fired on him, wounding two children, and putting two or three balls through his body. Clark ran, was overtaken and knocked down in the midst of his cries for mercy, one of the villains fired a pistol in his mouth, killing him instantly. They then required the settler to sell his property to them and leave the country. He, fearing that they would otherwise take his life, sold them his valuable property for $300, land departed with his family.--The sherif was one of the purchasers. CURIOUS TRIAL.--The Southern Correspondent of the New York Evening Star writes a strange circumstance, which is the source of some excitement, is about to undergo investigation in Jones county, Georgia. It appears that some eight years ago, a lad of that county, about 13 years of age, left his home; his father died and left a large property, and he not being heard from, the estate was divided, and his share, some thirty thousand dollars, was divided among those left. Within a few months, he has appeared and laid claim to his property; his mother denies him, and says he is an impostor, as- the real person died some time ago in New Orleans, and she paid his funeral expenses. He is to be tried as an impostor. Opinion is equally divided in regard to his identity: some avow he is the man, and others as decidedly con tend he is no: He has the same marks as the individual-a scar on one supposed of his fingers amputa- of his legs and a joint of one ted. He relates numerous circumstances su connected with his leaving and early youth, b and there are many he cannot remember.n Balt. Chron. pe In BANK FAILURE.--The New York Dry ⑉ Dock Bank stopped business on the 3th inst. A run had been made upon the Bank on Satpr H urday previous, and about $100.000 in specie drawn from its vaults by depositors and pe billholders. The Dry Dock was a Deposite th Bank and had $130,000 of Government mon w ev in possession, which of course the said of Government must lose. No loss will be susup tained by those who hold the notes of this in solvent institution, as the Wall street banks have agreed to redeem them. So the 'experment' progresses. Much excitement prevailed in New York. th Runs and rumors of runs upon several of the ch Banks are mentioned in the papers, but noan hing serious was anticipated. ste The condition of things in New York grows vorse and worse. Three hundred failures cld ave occurred since the Josephs led the way Pro n "the road to ruin". All is dismay in the tio great commercial metropolis.-Dayton Jour. pra mo BATTLE BETWEEN A WEASEL AND SWALLOWS.-M err seasel was observed by some persons in the neighorhood of Garven, in Scotland, to attack some Jac ests of bank swallows hollowed in the sand. A number of the bravest swallows, placed themselves of h battle array pounced upon him, seized him by rev he tai!, raised his hind feet from the ground, and Mr ith great dexterity tumbled him down the declivy, at the top of which the nests were ranged in pul ow. The invader renewed the attack several for mes, but was asofien repulsed in the same manner pea s at firs:, and, being at length worn out by fatigue, ele ielded up the palm of victory to his vanquishers. cha THE FROSTS.-The late severe frosts are said to of ve done great injury to the peach orchards of pat Jew Jersev. To such an extent is the peach ultivated in that State that the Trenton Gazette stimates the damage at 'many hundred thousand ollars.' ca The names of the Buffilo Binks whose doors citi ve closed, are the Commercial Bank of Buffulo, his e City Bank of buffulo, and the Bunk of Buffa con A bill was introduced into the Senate yesterday oridine for the immediate mament out of alm stat