15126. Hamilton Exchange Bank (Greene, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
October 22, 1857
Location
Greene, New York (42.329, -75.770)

Metadata

Model
gpt-5-mini
Short Digest
00639dfa

Response Measures

None

Description

Contemporary newspaper reports from Oct 1857 list the Hamilton Exchange Bank of Greene, NY among suspended banks during the 1857 panic. By Feb 1858 the bank is listed as winding up and going into final liquidation, indicating permanent closure/receivership. No article describes a depositor run on this specific bank.

Events (3)

1. October 22, 1857 Suspension
Cause
Macro News
Cause Details
Listed among many New York banks that suspended payments during the nationwide 1857 financial panic and banking suspensions.
Newspaper Excerpt
Hamilton Exchange Bank, Greene.
Source
newspapers
2. October 31, 1857 Other
Newspaper Excerpt
Hamilton Exchange, at Greene. (listed among New York banks whose bills are not received at Suffolk/Metropolitan banks.)
Source
newspapers
3. February 24, 1858 Receivership
Newspaper Excerpt
Winding up the following N. York Banks, and going into final liquidation: ... Hamilton Exchange Bank, Greene;
Source
newspapers

Newspaper Articles (4)

Article from The Weekly Portage Sentinel, October 22, 1857

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Article Text

The Money Crisis-Affairs brightening Up. Money matters have witnessed a material improvement since our last issue. Very much of the paper which ten days ago was pronounced worthless on account of the sus pension of the institutions issuing the same, is again current, and is circulating 4 medium of business. The demand for specie has materially decreased. When sold and silver had 80 risen as to command ten and in some instances twenty per cel.t. the people who hold the notes, deliberately to concluded they would do without it. The sus pension of the banks not only FII pended specie payment, but it suspended the collection of notes and bills falling can, and while it lessened the current funds and incredit the rate of exchange and 11 premium on gold and silver, it lessened the demand for money -put off the days of payment. These evils are working their own cure. Two or three days ago, the news came that all the New York City Banks and most of the country banks had suspended. Eve. rybody was startled. Hard'y anything in the shape of Bank paper from that State was current. Now the bills of all the banks in the State are current with the exception of the following: Niagara River Bank, Tonawanda. Agricultural Bank, Herkimer county. Dairyman's Bank, Newport. Hollister Bank, Buffalo. Ontario Bank, Utica. O. Lee & Co.'s Bank, Buffalo. Bank of Orleans, Albion. Reciprocity Bank, Buffalo. Yates County Bank, Penn Yan. Tompkins county Bank, Ithica. Huguenot Bank, New Paltz. Medina Bank, Medina. Troy City Bank, Troy. Central Bank of New York, of Utics. Hamilton Exchange Bank, Greene. The Cleveland Board of Trade have met and resolved that in their judgment the State Bank of Chio and Independent Banks are all solvent, and deserving of confidence and that they will receive their bills at par in all business transactions. The private bankers have also taken similar ground. The Cincinnations have resolved to re. ceive all the notes of New Orleans and all other Banks that are bankable at Boston, Philadelphia, Pittsburgh and Baltimore. The prospect is brighter. When the present storm has gone by and the reign of money terror is over it would be well for the people to make some inquiries into the securities which they have for the p-per promises with which the country is flooded. In days of prosperity let us m.ke ourselves secure, that when the storm comes, we may be prepared for it.


Article from Indiana American, October 23, 1857

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Article Text

folks can only realize six, except in times like these when they can realize from five to a hundred, OVER THE LEFT. But says the friend of banks, "well regulated banks are useful"-so, we add would be a well regulated whirlwind,-take the twists out of it, and "regulate" its speed to about five miles an hour, and it would not only be harmless but very pleasant ; but it would no longer be a whirlwind, that is all() Take away from banks the power to shave-the right to take all the interest it wants-the right to"issue notes, and the right to break with those notes in the hands of poor people, and it would no longer be a bank. Some of our readers want us to give a tlist of bad banks, That would require about twice large a sheet as ours, devoted to banks alone. The New York banks are all suspended. The following are considered too bad to take, all others are current: Ingra River bank, Tonawanda. Agricultural bank, Herkimer County, Dairyman's bank, Newport, Hollister bank, Buffalo, Ontario bank, Utica. O. Lee & Co's bank, Buffalo. Bank of Orleans, Albion. Reciprocity bank, Buffalo. Sackett's Harbor bank, Buffalo, Yates County bank, Penn Yan. Tompkin's County bank, Ithaca. Huguenot bank, New Paltz, Medina bank, Medina. Troy City bank Troy. Central bank of New York, of Utica. Hamilton Exchange bank. Greene. The following Illinois banks have increased their securities, and are current: Agricultural bank: Alton bank; Bloomington bank; Central (Peoria) bank : City (of Ottawa) bank; Chicago bank; Citizen bank; Elgin bank; Edgar County bank: Farmers' and Traders' bank; Frontier bank; Galena bank: Grayv Ille bank; In. ternational bank; Lafayette bank: Marion bank; McLean County bank; Merchants' and (Drovers bank; National bank: Northern Illinois bank; Na. pierville bank; Prairie Sta to bank; Bank of Peru; Pike County bank; Quincy bank; Railroad bank: Southern (Gravville) bank; State (Shawneetown) bank; E. 1. Tinkham & Co's bank; Warren County bank. The Ohio State Banks except the following, are current now, but may not be by the time our paper reaches its readers. Dayton Bank. Sandusky City do. Clinton do. Columbus. Miami Valley do. do. Columbus. City Franklin do. Columbus. The Kentucky Banks are yet current The following Free Banks in Indiana have increased their securities and are re" garded safe. There surplus of securities, over issues of 114,999: Bank of Goshen " Gosport. Mt. Vernon. Indiana. " Paoll. " Rockville. " Salem, New Albany. : Salem, Salem. Bloomington Bank. Cambridge City do. Canal do do Crescent City do Exchange do Westfield. Farmers' do Indiana Indiana Farmsrs' de Kentucky Stock do do Lagrange do Parke County do Prairie City Salem do Goshen. Southern do of Indiana. Thy following banks are closing, but their securities are good, amounting to 7,565 above issues: Central Bank. Brookville do Bank of the Capitol. " of Elkhart. of Monticello. of Syracuse Hoosier do Indiana Stock do Huntington County do Indiana Reserve do Fayette County do Merchants & Mechanics' do The Tippecanoe Bank is under protest.


Article from Vermont Phœnix, October 31, 1857

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Article Text

Uncurrent Bank Bills. Under the present temporary arrangement during the panic, the bills of the suspended Banks of New England and New York are generally current in Boston and New York.The exceptions up to this time are all given below ; and in regard to these it is supposed that the bills are good in most cases, though not bankable. Or those Banks in this State set down as uncurrent, the Royalton, Stark, Missisquoi, and St. Albans, are undoubtedly good, and holders of bills should not submit to a sacrifice on them. The bilis of the following Banks are not received at the Suffolk Bank, Boston, nor at the Metropolitan Bank, New York : MAINE. China, and Canton, at China. Ellsworth, at Ellsworth. Exchange, at Bangor. Hallowell, and Central, at Hallowell. Hancock, at Ellsworth. Maritime, at Bangor. Monsum River, and Sanford, at Sanford. NEW HAMPSHIRE. Exeter, at Exeter. Weare, at Hampton Falls. VERMONT. Danby, at Danby. Missisquoi, at Sheldon. Royalton, at Royalton. South Royalton, at South Royalton. Stark, at Bennington. St. Albans, at St. Albans. MASSACHUSETTS. Manufacturers, at Georgetown. Western, at Springfield. RHODE ISLAND. At present all notes issued by the Rhode Island Banks are rejected, although most of them are current in their own State. CONNECTICUT. Bridgeport City, at Bridgeport. Charter Oak, at Hartford. Colchester, at Colchester. Exchange, at Hartford. Hartford County, at Hartford. Hatters, at Bethel. Mercantile, at Hartford. Merchants' Exchange, at Bridgeport. North America, at Seymour. Palaquioque, at Danbury. Pawcatuck, at Pawcatuck. Quinebaug, at Norwich. Thompson, at Thompson. Uncas, at Norwich. Windham County, at Brooklyn. Woodbury, at Woodbury. Wooster, at Danbury. NEW YORK. Agricultural, in Herkimer County. Central Bank of New York, at Utica. Dairyman's, at Newport. Hamilton Exchange, at Greene. Hollister, at Buffalo. Huguenot, at New Paltz. Medina, at Medina. Niagara River, at Tonawanda. O. Lee & Co.'s Bank, Buffalo. Ontario, at Utica. Orleans, at Albion. Reciprocity, at Buffalo. Sacketts' Harbor, at Buffalo. Troy City, at Troy. Yates County, at Penn Yan.


Article from Raftsman's Journal, February 24, 1858

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CLIPPINGS AND SCRIBBLINGS. Afloat-the steam ship Leviathan. Busy doing nothing-our Legislature. Ale-in-some of the b'hoys on Monday eve-ning. Circulating-new counterfeit tens on the Gettysburg Bank Sold-fresh shad, in Washington last week, at $1 25 a pair. Abroad-the schoolmaster who was tight on Monday night. Must keep late hours-the one that sleeps during day time. Have triumphed-the revolutionists in Mexico, as per late advices. Busy--the bogus money men, in several of the neighboring counties. Ditto-the officers of the law, in making arrests and jugging the gentry. Selling-Pennsylvania Bank Stock, at $3 a share. One year ago it brought $120. Sold-Pennsylvania Railroad stock, in Philadelphia last week, at $44½ per share. Married-week before last, Ex-President Fillmore, to Mrs McIntosh, of Albany. Ed-ifying to see a chap feeling for a door in the corner of a room, after a little ale-ing. A "fast" man-John Brown, of Reading. He recently made 120 horse-shoes in one day. "An even exchange is no robbery," as the widow said when she swapped herself off for a widower. Question. What would have become of the venders of shilling calico, if women had never been invented? Found out-the meaning of the mysterious letters O. K., by some of the ladies. They say it is-Only Kissing. Introduced-a bill into the Louisiana Senate, authorizing the importation of 5,000 negroes from the coast of Africa. Has procured-J. P. Brown, of Ross county, Ohio, ten Cashmere goats from Constantinople. The fleeces are pure whito. Believed in diplomatic circles in Washington, that a war between the United States and Mexico is an event not very far off. Stated-that the Erie City Bank will resume specie payments in a few weeks. It has been discredited by the New York brokers. Must be presented-the notes of the America Bank, Trenton, N. J., to the receiver within 2 years from the 1st December, 1857. Has passed-the Massachusetts Legislature during a four week's session, two bills, of which one is to increase the pay of its members! Gives notice-the receiver of the Colchester Bank, Connecticut, that its bills must be presented before the first of March. Rather short notice. Disinterred-the bodies of Fife and Charlotte Jones, by order of Mrs. Wolf. Charlotte's sister, who has had them taken to Washington county and buried. Boasts-a Texas militia officer, that his men "would rally at the tap of the drum." Perhaps they would rally still more promptly at the tapping of a keg. Wealthy-the late Rev. Charles Avery, of Pittsburg. The estate is valued at $700,000; the great bulk of which is bequeathed to charitable and religious institutions. Still coming-hoops. At Senator Douglas's great ball, some of the gentlemen had little steel hoops in the bottom of their "pantaioon sleeves," to give a neat set over the boot. Reported a bill-Mr Jackman of the lower House of our State Legislature, providing for the sale of the balance of the canals owned by the State. Jackman is a democrat. Died-a little girl named Kate Lamont, in Manchester. She was sliding on the ice near her fathers house, fell, and hurt her foot so severely that lock-jaw ensued, terminating fatally. Made their appearance-bills on the Saline Bank. N. Y. There is no such institution in the State They are altered from an old "Wild-Cat" Michigan plate, by inserting the words "State of New York." Writes-a Washington correspondent, that from what he knows of Keitt the South Carolina sprig of chivalry, he deems it entirely probable that he was "too drunk to know whether he was struck or not." Sent-a requisition, by Gov. Packer to the Governor of Ohio, for the delivery up of Frederick W Porter, the late Secretary of the American Sunday School Union, who is a defaulter to the tune of $50,000. Sharp-the chap, who suggests that there is reason to believe that one of the descendents of Aaron, the Iligh Priest, was a native of Ohio. See Ezra VII, 4, which reads, "The son of Zerahiah, the son of Uzzi. the son of (a) Bukki." A funny fellow-the editor of the Erie Citizen. He says: "We will have six weeks sleighing in March." Now, either the editor must be mistaken, or the Almanac man has miscalculated for these "diggins," for he only allows us about four weeks in March. The "Central Bank of Pennsylvania," is not an "institution" yet, and not likely to be under the Buffalo auspices. The Commissioners, it is understood, have shut down upon that project, and are now asking the Legislature to reduce the capital stock to $150,000, with a view to start a safe and sound establishment on Blair county capital alone, and in the hands of Blair county men. Winding up the following N. York Banks. and going into final liquidation: Agricultural Bank, Herkimer; Bank of Central New York, Utica; Bank of Hornellsville; Bank of Orleans, Albion; Chemung Co Bank, Horse Heads; Hamilton Exchange Bank, Greene; Hollister Bank, Reciprocity Bank, Sackets Harbor Bank, Oliver Lee & Co's Bank, and Pratt Bank, Buffalo; Yates Co. Bank, Pen Yan; Ontario Bank, Utica. A North Carolina paper, commenting on the vote on Harris' resolution, asks: "Will anybody hereafter have the effrontery to tell Southern men that they must look to Northern Democrats for aid and comfort?" No, we think not, for the Democrats of the north have awakened to their true interests, and therefore cannot extend aid and comfort to the south; but there is a class of northern dough-faces that will comfort you, providing you have a few little loaves and fishes to spare. The Raleigh Register, speaking of the vote on Harris' resolution, and the effect it has on the Democratic party says: "The Democratic party, long distracted, has now as a national organization fallen utterly to pieces. It is as dead as last year's pickled herrings. While it lived it cursed the country, and now that it is dead, the country curses it" Well, neighbor, turn about is fair play and if the country has the advantage, let her get it, for her sufferings have been great from that motley crew of leeches. A few days ago, at the large furnace called "Union Deposit Furnace," situated in South Hanover township, Dauphin county, Pa., a terrible accident occured. It appears that while several persons were about the furnace, the hot metal came running out in torrents, so unexpectedly that the five persons were literally showered over with the liquid fire, immediately setting their clothing on fire and burning them in a dreadful and shocking manner. Some of the unfortunate men jumped into the canal, and others into the water tub.