15598. Chelsea Bank (New York, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 29, 1842
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
d35c5dd8

Response Measures

None

Description

Articles (NY Herald, May 1842) publish a Comptroller's notice (dated at Albany Apr 29, 1842) that Chelsea Bank 'failed to pay or redeem their circulating notes' and that state stocks securing those notes will be sold. This indicates a suspension of payments and likely permanent closure/settlement rather than a mere run or reopening. OCR years contain typos (1812 instead of 1842); corrected using publication date/context.

Events (1)

1. April 29, 1842 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Failed to pay or redeem circulating notes on demand; Comptroller to sell state stocks held as security for the notes (indicates insolvency/liquidity failure).
Newspaper Excerpt
THE CHELSEA BANK, ... having severally failed to pay or redeem their circlating notes, either upon demand at their several banking houses, or at their respective agencies
Source
newspapers

Newspaper Articles (2)

Article from The New York Herald, May 2, 1842

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Article Text

COMPTROLLER'S SALE OF STATE STOCKS.State of New York, Comptroller's Office-the following Banking Associations, organized under the act entitled An act to authorize the business of Banking," passed 18th of April 1838, and the acts amending the same, to wit : THE FÁRMERS' BANK OF ORLEANS, THE ST. LAWRENCE BANK. THE STATEN ISLAND BANK THE CHELSEA BANK. and THE WASHINGTON BANK, having severally failed to pay or redeem their circlating notes, either upon demand at their several banking houses, or at their respective agencies in the cities of New York or Albany, as required by the act entitled An act relating to the mption of bank notes," passed 4th May, 1810.-Notice is hereby given that the State Stocks held by the Comptroller as security for the circulating notes of said banks, or so much thereof as the Comptroller shall think proper to sell, will be sold at the Merchants' Exchange, in the city of New York, on Tuesday, the 10th day of May next, at 12 o'clock, M., to wit:For the Farmers' Bank of Orleans, 3 certificates Indiana 5 per cent (internal) improve$3000 ment stock, payable 1st July 1362, for $1000 each 58 certificates Indiana 5per cent (internal im provement) $58,000 stock, payable 1st July, 1863, for $1000 each For the Chelsea Bank, 1 certificate Arkansas 6 per cent (real estate bank) $1000 stock, payable 26th October, 1861, for $1000 For the St. Lawrence Bank, Stock Account. 24 certificates Arkansas 6 per cent (real estate bank) $24,000 stock, payable 26th October, 1861, for $1000 each Stock and Real Estate Account. 23 certificates Arkansas 6 per cent (real estate bank) $23,000 stock, payable 26th October, 1861, for $1000 each 15 certificates Illinois 6 per cent (Illinois and Michigan $15,000 Canal) stock, payable 1860, for $1000 each For the Staten Island Bank, 15 certificates Indiana 5 per cent (internal improvement) $15,000 stock, payable 1st July 1860, for $1000 each. For the Washington Bank, 1 certificate New York 5 percent (Black River Canal) $7,000 stock, payable 1st July, 1858, for $7,000 1 certificate New York 5 per cent (Erie enlargement) $2000 stock, payable 1st July, 1858, $2000 I certificate New York 5 per cent (Oneida Lake and Canal Feeder) stock, payable 1st April, 1351, for $1000 $1000 Dated at Albany, the 29th day of April, 1812. A.C.FLAGG, Comptroller. The above notice comprises all the Banks, of whichlegal DOtices of suspension have been received at the Department. m210 or


Article from The New York Herald, May 8, 1842

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Article Text

SUCCESS GUARANTEED TO ALL. "THE AMERICAN MAGIC MIXTURE" has been hailed as one of the greatest discoveries of the present age. and as long as me dical science exists will be considered the most invaluable discovery for diseases of the urinary passages, well as the kidneys and bladder. Its effects are absolutely effectual in performing a radical cure in a short time, while the ordinary remedies take even months. One dose cannot fail to enlist the hesitating and over delicate in its favor, and out of the hundreds that put their faith in it, not one has been disappointed nor discovered while using it. It has safely conveyed all beyond the pale of suspicion. The Magic Mixture has long stood unrivalled, and has withstood the glittering imagery so pompously and so ubiguitously displayed by a host of unprincipled imitating quacks, whose only aim has been to dupe and deceive the unfortunate. Sold by appointment at Ring's Druz Store, 53 Fulton street corner of Chiff Duvar, cor. of Church and Chambers, and at drug store 413 Broadway cor. Lispenard; m2 Im*: 63 Bowery cor. of Walker. NOMPTROLLER'S SALE OF STATE STOCKS.State of New York, Comptroiler's Office-the following Banking Associations, organized under the act entitled An act to authorize the business of Banking, passed 18th of April 1838. and the acts amending the to wit: THE FARMERS BANK OF ORLE THE ST.LAWRENCE BANK THE STATEN ISLAND BANK. THE CHELSEA BANK. and THE WASHINGTON BANK, having severally failed to pay or redeem their circlating notes, eithe upon demand at their several banking houses or at their respec tive agencies in the cities of New York or Albany, as required by the act entitled An act relating to the redemption of bank notes," passed 4th May, 3.-Notice is hereby given that the State Stocks held by the Comptreller as security for the circulating notes of said banks, or so much thereof as the Comptroller shall think proper to sell, will be sollat the Merchants' Exchange, in the city of New York, on Tuesday, the 10th day of May next, at 12 o'clock, M., to wit :--For the Farmers' Bank of Orleans, 3 certificates Indiana 5 per cent (internel) improve$3000 ment stock, pavable 1st July 1362, for $1000 each 58 certificates Indiana Sper cent (internalimprovement) $58,000 stock, payable 1st July, 1863, for$1000 each For the Chelsea Bank, 1 certificate Arkansas 6 per cent (real estate bank) $1000 stock, payable 26th October, 1861, for $1000 For the St. Lawrence Bank, Stock Account. 24 certificates Arkansas 6 per cent (real estate bank) 381,000 stock, payable 26th October, 1861, for $1000 each Stock and Real Estate Account. 23 certificates Arkansas 6 per cent (real estate bank) $23,000 stock, payable 26th October, 1861, for $1000 each 15 certificates Illinois 6 per cent (Illinois and Michigan $15,000 Canal) stock, payable 1860, for S1000 each For the Staten Island Bank, 15 certificates Indiana 5 percent (internal improvement) $15,000 stock, payable 1st July 1800. for $4000 each. For the Washington Bank, 1 certificate New York 6 percent (Black River Canal) stock. payable 1st July, 1958, for .000 $7,000 1 certificate New York 5 per cent (Erie enlargement) stock payable 1st July, 1858, $2000 $2000 1 certificate New York 5 per cent (Oneida Lake and Canal Feeder) stock, payable 1st April, 1851, for $1000 $1000 Dated at Albany, the 29th day of April, 1812. FLAGG, Comptroller, The above notice comprises all the Banks, of whichlegal notices of suspension have been received at the Department. m2 to 10 r RY COLORS.-The following colors, of first quality, adapted either for Oil Painting or Kalsomine, for sale at 304 Broadway. corner of FranklinWashed Blue Blacks, Real Indian Red, Super Chinese Blue, Super Purple Brown, Emerald Green, Madder Lakes, Brunswick Green, Vermillion, Saxon Green, Chromes, Turkey Umbre Ochres, Sc. &c. To Printers and Engravers.-Frankfort and English Blacks, very superior, for sale at feb 27 3m ² 364 Broadway, corner Franklin. R DEMOVED.-HILAIRE WALTER, agent and partner of the house of Benger Walter, the only manufactory of Watch Glasses in France, No. 27 Paradis Poissonniere street, Paris, has the honor of informing Masrs. dealers in watch works, and all articles connected with the line. as also Msars. dealers in cut glass, that their establishment of watch glasses, cut glass, will and colored, fancy articles, &c. &c. &c. has lately been re moved from No 40 Maiden Lane, tot No. 90 William street. Gentlemen desirous of purchasing from the only depot of the factory, are respectfully invited call at our establishment, where will be found an assortment of the above men tioned goods, which will be disposed of on the most reasonable terms. m12m*r JAVANASEGARS.-PICABIA & MANZANEDO, No. Liberty street, near Nassou Street, offer for sale the foilowing 650,000 La Norma Segars, very superior do 30,000 Norriega do. do 45,000 Esperanza do. do 123,000 Dinna do. 80,000 Regalin and Canones do. 50,000 Trabucos and Ladies do. The whole entitled to debenture, and in lots to suit purcha+ a23 lm r PARTICULAR NOTICE.-The aged and well known Practitioner, Salamon Heine, M. D., having concluded At his now advanced age 53 years, to make an offer to the pub lie such as has never been presented before. announces that he will undertake any or all of these malignant or long standinz diseases of every class requiring either medical or surgical treatment, and considered by others incurable He will give a trial (including medicine) without charge, and if the patient is advanced, the Doctor will staud ready at a moderate charge, by agreement, to cure him. If the patient is not benefitted by the firsttial no charge whatever will be made for medicine or attendance. The Doctor's office is in-Rende st. almost opposite the Marshall House, corner of Broadway and Reade street. a12 Im*r SAML HEINE, M.D. DEMOVAL.-DR. FEUCHTWANGER has removed his R Office from No. 1 Courdandt street to No. 1 ll street, near Broadway. He siggent for the manufacturers of Aquafortis, Nitrous, pure Nitric and Muriatic Acids, Sulpho and Nitre Muriate of Tin. Pyroligneous Acid and Charcoal: Ex. tract of Logwood, Aquo Ammonia, Sweet Spirits of Nitre, Either Lumar Caustic, Coraiva, Capsalos-and may be consult ed on his favorite science for destroying and exterminating any species of vermin and insects, such as moths, bedbugs, cock. roatches, rats. mosquetoes, fiend, mice, ties, skippers, and ca. terpillars, on the various plants, and his seed protector. Hei in constant attendance for advice at his office, No.1 Wall a25 Im c street, from nine to t welve o'clock. DISSOLUTION OF COPARTNERSHIP.The copartnership heretofore existing under the firm of Phalen Searls is this day dissolved by mutual consent. The affairs of the firm will be settled by either of the partners, JAMES PHALEN. WILLIAMSEARLS. New York, April 30th 1842. William Scarls will continue the Stock & Exchange business m21w*m a No. 30 Wall street, on his own account.