16073. Lafayette Bank (New York, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 6, 1845
Location
New York, New York (40.714, -74.006)

Metadata

Model
gpt-5-mini
Short Digest
00ae2cc7

Response Measures

None

Description

Multiple newspaper notices in June 1845 state that the Lafayette Bank's debts (including circulating notes) have been paid by the Receiver from the assets of the bank and refer to the receivers of the late Lafayette Bank paying dividends. This indicates the bank was insolvent, placed in the hands of a receiver and wound up (permanent closure). No article describes a depositor run; the cause is bank-specific insolvency under the Safety Fund system.

Events (2)
1. June 6, 1845 Receivership
Newspaper Excerpt
The debts of the Lafayette Bank of New York, including circulating notes, have been paid by the Receiver from the assets of the bank. (receivers of the late Lafayette Bank ... will pay a fourth and final dividend ... )
Source
newspapers
2. June 6, 1845 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was insolvent under the Safety Fund system; receiver appointed and bank's debts being paid from assets.
Newspaper Excerpt
The debts of the Lafayette Bank of New York, including circulating notes, have been paid by the Receiver from the assets of the bank.
Source
newspapers

Newspaper Articles (9)
1. June 10, 1845 The New York Herald New York, NY
Article from The New York Herald, June 10, 1845

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MONEY MARKET. Monday, June 9-6 P.M. The stock market was very heavy to-day, which in a measure can be attributed to the excessive hot weather. Stonington fell off 1 per cent; Norwich and Worcester, 1; Long Island, I Morris Canal, 1; Farmers' Lqan, Ohio 6's, 1. Harlem improved 1 per cent, and Eroton closed firm at Saturday's prices. The transactions were very limited. The trustees of the late Fulton Bank give notice that on the 20th of June they will pay a third surplus dividend of two per cent. Attempts are being made, with prospects of success, to extend the Vicksburg Railroad from Jackson, one of its present termini, to Brandon, so as to open a conneotion with the Georgia and South Carolina Railroads. The Comptroller of this State has given official notice that he will redeem, at par, the outstanding circulating bills of the following insolvent Safety Fund banks:Commercial Bank of New York. Bank of Buffalo. Commercial Bank of Buffalo. Commercial Bank of Oswego. Clinton County Bank. Watervliet Bank. Bank of Lyons. The Comptroller is not authorised to pay interest in any case. Those persons, therefore, who have packages of notes which have been protested, or the payment demanded of the receiver of the bank, in order to obtain interest, will find it necessary to collect the demand through the Receiver. Those persons who hold bills of any of the banks before named, and who have not taken the necessary steps to establish a claim for interest, and are willing to surrender the notes on receiving dollar for dollar, can be paid at this rate on presenting the bills to the Comptroller. The assets of the Bank of Oswego are believed to be sufficient to pay all the debts of that bank, and none of the circulating notes of the Bank of Oswego have been redeemed by the Comptroller. The debts of the Lafayette Bank of New York, includ. ing circulating notes, have been paid by the Receiver from the assets of the bank. The receipts at the Custom House for the week ending Saturday the 9th inst., amounted to $307,000. The monthly report of the Reading Railroad Company for May, 1843,44 and '45, presents the annexed statement of the receipts and business of the road. PHILADELPHIA AND READING RAILROAD. May, 1843. May, 1844. May, 1845. Receipts $31,447 47,763 34 79,822 82 15,205 Coal transported, tons. 35,684 64,698 The business for May, 1845, has been considerably more than the maximum estimate. Up to June 1st, the coal tonnage is over the estimate-800,000 tons for the year-rising nine thousand tons. In connection with this very favorable report and the immense improvement these increased receipts must produce in the affairs of the railroad company, we give a report of the business on the Schuylkill Canal, for one week in each of the past three years. BUSINESS ON THE SCHUYLKILL CANAL. Week ending June 10, 1843. June 8, 1844. June 7, 1845. Coal transported, tons, 18,095 11,869 5,796 For the same week the coal transportation of the Reading Railroad was as follows:1843. 1844. 1845. 2,388 Coal transported, tons, 8,796 18,871 It will be seen that these two works have changed places in the coal carrying trade of Eastern Pennsylvania. What the Schuylkill Canal was, the Reading Railroad will be, and judging from these returns the Schuyl. kill Canal will soon be what the Reading Road was. The annual reports of the Canada Banks, made up to May 31, 1845, compared with those of the same date last year, show an increase in circulation and discounts, and a decrease in the amount of specie on hand. We annex the latest report of the Quebec Bank:-

2. June 11, 1845 The New York Herald New York, NY
Article from The New York Herald, June 11, 1845

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REDEMPTION OF NOTES OF INSOLVENT SAFETY FUND BANKS. COMPTROLLER'S OFFICE, Albany, June 6th, 1845. COMPTROLLER, in obedience to the Third Section THE of the Act, Chapter 114 of the Laws of 1845, hereby gives notice, that he will redeem at par, the outstanding circulating bills of the Commercial Bank of New York, the Bank of Buffalo, the Commercial Bank of Buffalo, the Commercial Bank of Oswego, the Clinton County Bank, the Watervliet Bank, and the Bank of Lyons. The Comptroller is not authorised to pay interest in any case: Those persons, therefore, who have packages of notes which have been protested or the payment demanded of the Reeceiver of the Bank. in order to obtain interest, will find it necessary to collect the demand through the Receiver. Those persons who hold bills of any of the Banks before named, and who have not taken the necessary steps to establish a claim for interest, and are willing to surrender the notes on receiving dollar for dollar, can be paid at this rate, on presenting the bills to the Comptroller. All other claims which have been presented and established againstany of the insolvent Banks will be paid by the receiver, who cannot get an order from the Chancellor on the safety fund, until he has collected the sums due the bank and applied the avails to the payment of its debts. The balance then remaining is a charge on the safety fund, and these balances can be paid as soon as the Receiver disposes of the assets of the Bank and gets a final order from the Chancellor. either in cash or six per cent stock at par, which the Comptroller is authorised to issue under the 'Act t' provide for paying the debts of insolvent Safety Fund Banks,'o passed April 28, 1845. In the case of the Bank of Buffalo, the final order has been made by the Vice-Chancellor of the 8th circuit, and the means for paying the balance of all the claims against the Bank have been paid to the Receiver. The assets of the Bank of Oswego are believed to be sufficient to pay all the debts of that Bank, and none of the circulating notes of the Bank of Oswego have been redeemed by the Comptroller. The names and residences of the Receivers of the several Banks are as follows:Commercial Bank of New York, J. M. Blatchford, New York. Commercial Bank of Buffalo, S. G. Austin, Buffalo. Commercial Bank of Oswego, T. Beekman, Kinderhook. Watervliet Bank, George R. Davis, Troy. Clipton County Bank, Henry K. Averill, Plattsburgh. Bank of Lyons, Theron R. >trong, Palmyra. Bank of Oswego, Charles Stebbins, Cazenovia. Wayne County Bank, Samuel Miller, Rochester. City Bank of Buffalo, G. W. Newell, Albany. The debts of the Lafayette Bank of New York, including circulating notes, have been paid by the Receiver from the assets of the Bank. A. C. FLAGG, jll Stre Comptroller

3. June 12, 1845 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, June 12, 1845

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REDEMPTION OF NOTES Of Insolvent Safety Fund Banks. COMPTROLLER'S OFFICE, Albany, June 6, 1845. HE COMPTROLLER, in obedience to the third Section of the Act Chapter 114 of the Laws of 1845, here. by gives notice, that he will rédeem at par, the outstanding circulating buts of the Commercial Bank of New York. the Bank of Buffalo, the Commercial Bank of Buffalo, the Com. mercial Bank of Oswego, the Clinton County Bunk, the Water. viet Bank, and the Bank of Lyons. The Comptroller is not authorized to pay interest in any case: Those persons, therefore, who have packages of notes which have been protested or the payment demanded of the Receiver of the Bank, in order to obtain interest, will find it necessary to collect the demand through the Receiver.Those persons who hold bills of any of the Banks before named, and who have not taken the necessary steps to establish a claim for interest, and are willing to surrender the notes on receiving dollar for dollar, can be paid at this rate, on presenting the bills to the Comptroller. All other claims which have been presented and established againstany of the insolvent Banks will be paid by the Receiver, who cannot get an order from the Chancellor on the Safety Fund, until be has collected the sums due the bank and applied the avails to the payment of its debts. The balance then remaining is is charge on the Safety Fund, and these balances can be paid as soon as the Receiver disposes of the assets of the Bank and gets a final order from the Chancellor, either in cash or six per cent stock at par, which the Comptroller is authorized to issue under the ** Act to provide for paying the debts of insolvent Safety Fund Banks," passed April 28, 1815, In the case of the Bank of Buffalo, the final order has been made by the Vice-Clancellor of the 8th Circuit, and the means for paying the balance of all the claims against the Bank have been paid to the Receiver. The assets of the Bank of Oswego are believed to be sufficient to pay all the debts of that Bank, and none of the circulating notes of the Bank of o ego have been redeemed by the Camptrolier. The names and residences of the Receivers of the several Banks are as follows: Commercial Bank of New-York, J. M. BLATCHFORD New-York. Commiercial Bank of Buffalo, S. G. AUSTIN, Buffalo. Commercial Bank of Oswego, T. BEEKMAN, Kinderhook. Watervliet Bank, GEORGE R. DAVIS. Troy, Clinton County Bank. HENRY K. AVERILL, Plattsburgh. Bank of Lyona, THERON R. STRONG, Palmyra. Bank of Oswego, CHARLES STEBBINS, Cazenovia. Wayne County Bank, SAMUEL MILLER, Rochester. City Bank of Buffalo, G. W. NEWELL, Albany. The debts of the Lafayette Bank of New-York, including circulating notes, have been paid by the Receiver from the assets of the Bank. A. C. FLAGG, Comptroller. jell St

4. June 12, 1845 The New York Herald New York, NY
Article from The New York Herald, June 12, 1845

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REDEMPTION OF NOTES OF INSOLVENT SAFETY FUND BANKS. COMPTROLLER'S OFFICE, Albany, June 6th, 1845. T HE COMPTROLLER, in obedience to the Third Section of the Act, Chapter 114 of the Laws of 1845, hereby gives notice, that he will redeem at par, the outstanding circulating bills of the Commercial Bank of New York. the Bank of Buffalo, the Commercial Bank of Buffalo, the Commercial Bank of O.wego, the Clinton County Bank, the Watervliet Bank, and the Bank of Lyons. The Comptroller is not authorised to pay interest in any case: Those persons, therefore, who have packages of notes which have been protested or the payment demanded of the Reeceiver the Bank. in ord to obtain interest, will find it necessary to lect the demand through the R ceiver. Those persons who hold bills of any of the Banks before named. and who have not taken the necessary steps to establish a claim for interest, and are willing to surrender the notes on receiving dollar for dollar, can be paid at this rate, on presenting the bills to the Comptroller. All other claims which have been presented and established againstany of the insolvent Banks will be paid by the receiver, who cannot get an order from the Chancellor on the safety fund, until he has collected the sums. due the bank and applied the avails to the payment of its debts. The balance then remaining is a charge on the safety fund, and these balances can be paid as soon as the Receiver disposes of the assets of the Bank and gets a final order from the Chancellor. either in cash or six per cent stock at par, which the Comptroller is authorised to issue under the Act t' provide for paying the debts of insolvent Safety Fund Banks,'o passed April 28, 1845. In the case of the Bank of Buffalo, the final order has been made by the Vice-Chane-llor of the 8th circuit, and the means for paying the balance of all the claims against the Bank have been paid to the Receiver. The assets of the Bank of Oswego are b lieved to be sufficient to pay all the debts of that Bank, and none of the circulating notes of the Bank of Os wego have been redeemed by the Comptroller. The names and residences of the Receivers of the several Banks are as follows:Commercial Bank of New York, J. M. Blatchford, New York. Commercial Bank of Buffalo, S. G. Austin, Buffalo. Commercial Bank of Oswego, T. Beekman, Kinderhook. Watervliet Bank, Georze R. Davis, Troy. Clinton County Bank, Henry K. Averill, Plattsburgh. Bank of Lyous, Theron R. Strong, Palmyra. Bank of Oswego, Charles Stebbins, Cazenovia. Wayne County Bank, Samuel Miller, Rochester. City Bank of Buffalo, G. W. Newell, Albany. The debts of the Lafayette Bank of New York, including circulating notes, have been paid by the Receiver from the assets of the Bank. A. C. FLAGG, jll Stre Comptroller.

5. June 13, 1845 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, June 13, 1845

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REDEMPTION OF NOTES Of Insolvent Safety Fund Banks. COMPTROLLER'S OFFICE, Albany, June 6, 1845 THE COMPTROLLER, in obedience to the third Section of the Act Chapter 114 of the Laws of 1845, here. by gives notice, that he will redeem at par, the outstanding circulating bills of the Commercial Bank of New York, the Bank of Buffalo, the Commercial Bank of Buffalo, the Commercial Bank of Oswego, the Clinton County Bank, the Watervliet Bank, andth Bank of Lyons. The Comptroller is not authorized to pay interest in any case: Those persons, therefore, who have packages of notes which have been protested or the payment demanded of the Receiver of the Bank, in order to obtain interest, will find it necessary to collect the demand through the Receiver.Those persons who hold bills of any of the Banks before named, and who have not taken the necessary steps to estab. lish a claim for interest, and are willing to surrender the notes on receiving dollar for dollar, can be paid at this rate, on presenting the bills to the Comptroller. All other claims which have been presented and established against any of the insolvent Banks will be paid by the Receiver, who cannot get an order from the Chancellor on the Safety Fund, until be has collected the sums due the bank and applied the avails to the payment of its debts. The balance then remaining is a charge on the Safety Fund, and these balances can be paid as soon as the Receiver disposes of the assets of the Bank and gets a final order from the Chancellor, either in cash or six per cent. stock at par, which the Comptroller is authorized to issue under the " Act to provide for paying the debts of insolvent Safety Fund Banks," passed April 28, 1845. In the case of the Bank of Buffalo, the final order has been made by the Vice-Chancellor of the 8th Circuit, and the means for paying the balance of all the claims against the Bank have been paid to the Receiver. The assets of the Bank of Oswego are believed to be sufficient to pay all the debts of that Bank, and none of the circulating notes of the Bank of Oswego have been redeemed by the Camptroller. The names and residences of the Receivers of the several Banks are as follows: Commercial Bank of New-York, J. M. BLATCHFORD New-York. Commercial Bank of Buffalo, S. G. AUSTIN, Buffalo. Commercial Bank of Oswego, T. BEEKMAN, Kinderhook. Watervliet Bank, GEORGE R. DAVIS. Troy. Clinton County Bank, HENRY K. AVERILL, Plattsburgh. Bank of Lyons, THERON R. STRONG, Palmyra. Bank of Oswego, CHARLES STEBBINS, Cazenovia. Wayne County Bank, SAMUEL MILLER, Rochester. City Bank of Buffalo, G. W. NEWELL, Albany. The debts of the Lafayette Bank of New-York, including circulating notes, have been paid by the Receiver from the A. C. FLAGG, Comptroller. assets of the Bank. jell St

6. June 14, 1845 The New York Herald New York, NY
Article from The New York Herald, June 14, 1845

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MUSIC. LADY, who has a thorough knowledge of music, being A taught by the first masters in Europe, and feeling heself fully competent to instruct in thataccomplishment, would wish to devote her time to the instruction of young ladies, on moderate terms. A note addressed to A B. C., at the office of jell 1w*re this paper, shall be punctually attended to. ANTED-By a French young woman, a situation to take W charge of children, or as lady S maid, with a family going to France. She can give the best of references. Address by letter, to M. P. A.. Herald Office. ju10 lw*m FOLLOWING STATEMENT is from one lof the THE most eminent Physicians of New Jersey, and well and favorably known to very many of the citizens of New York. Having seen in the New York papers certain advertisements emanating from P. S. Beekman, I would beg to inform the public that I am acquainted with J. H. Scheuck, and have been so since 1834-that in 1839 he commenced the manufacture of Schenck's Pulmonic Syrup in Flemington. I have seen several persons of this vicinity who have been cured of Pulmonary disease by this Syrup when all other means had failed. I am acquainted with P. S. Beekman, and know that the original Pulmonic Syrup had been established several years before he heard of it, and that Beekman has said that it was Schenck's Pulmonic Syrup that cured him. Beekman has told me that he acted as Agent for Mr. Schenck, and had no interest in the business further than the agency. I know, also, that Mr. Schenck is the originator of the Pulmonic Syrup, and believe that Beekinan knows nothing of its composition, and is using every eadeavor to deceive the public. I am a practising physician, residing near Flemington, Hunterdon county, N.J., and am utterly opposed to all Empericism; but having seen the good effects of the Pulmonic Syrup, and believing that an effort is now being made, by every unpiincipled means, to injure an honest and honorable man, it is from a sense of duty that I make the above statement. GEORGE P. REX. M. D. Office exclusively for the sale of Schenck's Pulmonic Syrup, No. 4 Courtla d street New York. P.S. Beekman, of 491/2 Courtland street, is no longer Agent j14 3t*rh for the sale of Schenck Pulmonic Syrup. REDEMPTION OF NOTES OF INSOLVENT SAFETY FUND BANKS. COMPTROLLER'S OFFICE, Albany, June 6th, 1845. THE COMPTROLLER. in obedience to the Third Section of the Act. Chapter 114 of the Laws of 1345, hereby gives notice, that he will redeem at par, the outstanding circulating bills of the Commercial Bank of New York, the Bank of Buffalo, the Commercial Bank of Buffalo, the Commercial Bank of Oswego, the Clinton County Bank, the Watervliet Bank, and the Bauk of Lyons. The Comptroller is not authorised to pay interest in any case: Those persons, therefore, who have packages of notes which have been protested or the payment demanded of the Reeceiver of the Bank. in order to obtain interest, will find it necessary to collect the demand through the Receiver. Those persons who hold bills of any of the Banks before named. and who have not taken the necessary steps to establish a claim for interest. and are willing to surrender the notes on receiving dollar for dollar, can be paid at this rate, on presenting the bills to the Comptroller. All other claims which have been presented and established againstany of the insolvent Banks will be paid by the receiver, who cannot get an order from the Chancellor on the safety fund, until he has collected the sums due the bank and applied the avails to the payment of its debts. The balance then remaining is a charge on the safety fund, and these balances can be paid as soon as the Receiver disposes of the assets of the Bank and gets a final order from the Chancellor. either in cash or six per cent stock at par, which the Comptroller is authorised to issue under the Act t provide for paying the debts of insolvent Safety Fund Banks,'o passed April 28, 1845. In the case of the Bank of Buffalo, the final order has been made by the Vice-Chancellor of the 8th circuit, and the means for paying the balance of all the claims against the Bank have been paid to the Receiver. The assets of the Bank of Oswego are believed to be sufficient to pay all the debts of that Bank, and none of the circulating notes of the Bank of Oswego have been redeemed by the Comptroller. The names and residences of the Receivers of the several Banks: are as follows:Commercial. Bank of New York, J. M. Blatchford, New York. Commercial Bank of Buffalo, S. G. Austin, Buffalo. Commercial Bank of Oswego, T. Beekman, Kinderhook. Watervliet Bank, George R. Davis, Troy, Clinton County Bank, Henry K. Averill, Plattsburgh. Bank of Lyons, Theron R. Strong, Palmyra. Bank of Oswego, Charles Stebbins, Cazepovia. Wayne County Bank, Samuel Miller, Rochester. City Bank of Buffalo, G. W. Newell, Albany. The debts of the Lafayette Bank of New York, including circulating notes, have been paid by the Receiver from the as sets A. C. FLAGG, of the Bank Comptrolle j11 Stre

7. February 4, 1846 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, February 4, 1846

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COMMERCIAL AND MONEY MATTERS. For sale of Stocks at the Exchange, see Last Page. TUESDAY, P. M. The Stock Market was without material change at the First Board, but a rumor having been set afloat that Mr. Polk was preparing a War Message on the Mexican affairs, prices fell off a little at the Second Board. There is but little doing in Foreign Bills, and rates are nominal. Sterling 8@8½; Francs 5.28¾ @5.27¾; Rix Dollars 78¼@78½; Guilders 39¼@39½; Marks Banco 35@35½. The Statements of the City Banks for the 1st inst. show a decrease of the leading items excepting Deposits, which has increased nearly half a million. The shipments of Coin to the South have not reduced the Specie quite so low as we anticipated, and we are also disappointed in the amount of Loans and Discounts, which we presumed would show a large decrease. The aggregates of the leading items compared with the last report are as follows: | | February. | November. | |-----------------------|-------------|-------------| | Loans and Discounts | 43.759.012 | 43,850.791 | | Circulation | 6.155,472 | 6,217,684 | | Deposite | 25,012,447 | 24,644,153 | | Specie | 7,387,927 | 7,996,736 | The Loans and Discounts show a decrease of $91,779; the Circulatton $62,212; the Specie $608,809; and the Deposits an increase of $368,294. The Manhattan Bank has declared a dividend of 3 per cent. payable on the 10th inst. This is its first dividend since 1840; but since then the Company has made good a deficit in its capital to an amount exceeding $800,000, and has now a surplus on hand, after paying the dividend. The Receiver of the Lafayette Bank will pay to the stockholders a third dividend of 5 per cent. on the amount of the capital stock, on the 10th inst. The Guardian Insurance Company have declared a farther dividend of 15 per cent. on losses by the fire of July last-making with the former dividends, 90 per cent. in all. The amount of revenue at this Port for January shows a falling off of about 12½ per cent. The receipts were: | | | |---------------|---------------| | January, 1845 | $1,687,024 92 | | " 1846 | 1.476,324 36 | | Decrease | $210,700 56 | The arrivals and clearances during the month of January at Boston were : | | Ships | b'ks | brigs | schrs | sl'ps | total | |---------------|-------|------|-------|-------|-------|-------| | ARRIVALS. | | | | | | | | | 11 | 27 | 50 | 228 | 2 | 318 | | Foreign | 3 | 7 | 11 | 24 | 0 | 45 | | Coastwise | 8 | 20 | 39 | 204 | 2 | 273 | Of the above, 1 brig, 2 schrs. were British; and the remainder American. | | Ships | b'ks | brigs | schrs | sl'ps | total | |---------------|-------|------|-------|-------|-------|-------| | CLEARANCES. | | | | | | | | | 11 | 46 | 51 | 99 | 1 | 208 | | Foreign | 4 | 17 | 23 | 40 | 0 | 84 | | Coastwise | 7 | 29 | 28 | 59 | 1 | 124 | Of the above, 1 bark, 1 brig, 11 schrs. were British; and the remainder American. At the recent January meeting of the stockholders of the Bank of St. Albans, Vermont, Lawrence Brain-

8. May 16, 1846 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, May 16, 1846

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COMMERCIAL AND MONEY MATTERS. For sales of Stocks. &c. see fourth page. FRIDAY. P. M. The sales at the Stock Board to-day aboved a extricued heaviness of the market; but the decline was not material. At the Second Board the feeling was bet ter. until the rumor came in that the British Minister had protested against the blockade of Matamoroz. The clos. ing prices are generally is little better than yesterday, but the market was not well sustained after the Second Board. The Exchange Market closed beavily. Good Sterling Bills could be had at 91291 although some houses were drawing at 10. France 5 30@5287. There begood supply of bills, and the amount taken for this Steamer has not been large. Freights are'very firm. and 3.16d. has been refused for Square Cotton and 2s. 3d. for Flour. There is considerable offering. The street is getting blue again, and people who have money seem disposed to keep it. Good paper at sixty days cannot be negotiated below 15 to 24 per cent. and difficulty of passing acceptances has driven the bank. ing houses connected with the South and West to refuse to pay eight drafts drawn against time paper. There is a growing want of confidence which is likely to do more toward embarrassing the operations of business than any of the real influences which are working in the street. The delage of Uncurrent Money which is again flooding Wall-st. has forced the rate up to 1/2 per cent again. The books of subscription to the capital stock of the Ocean Steam Navigation Company are to be opened OD the 28th inst. and to continue open three days. The Merchants and Manhattan Insurance Companies have taken the preliminary steps toward filling up their capital stock, preparatory to commencing business apew. The Receivers of the late Union Insurance Company have declared their fifth and final dividend. They have settled every claim without legal proceedings or suit, and have re-paid the stockholder (including the present dividend,) sixty five and one half per cent. The stock of this Company, just previous to the determination to wind up its concerna, sold At the Brokers' Board at 40 per ct. The Receivere, and 17 other merchants and capitalists, one year ago, procured from the Legislature new charter, under the name of the Union Mutual In surance Company," with R cash capital of $100.000, for the business of Fire, Marine, Transportation and Inland Navigation. and that books of subscription for the Capital Stock will soon be opened. The Receivers of the late Lafayette Bank of this city will pay a fourth and final dividend of eighty-six cents per share to the stockholders on and after the 25th inst. A meeting of the merchants of Boston has remonstrated against the operous war clause inserted by the Boston Insurance Companies It is much more restrictive then that adopted by the New York Companies. The war clause has been adopted by Philadelphia and Baitimore Insurance Companies. At Philadelphia money was tighter, ynd at New Oriesna the market WHS extremely tight. Exchanges were lower: Sterling 81@9; France 535@5: sight on New York lat prem. The Canal Bank bad bought the banking house of the Commercial Bank for $60,000. The number of foreign and coastwise arrivals at Boston on Thursday, of all descriptions of vessels, as reported, was one hundred and twenty nine, occupying 25 pages on the Books of the Merchants' Exchange Reading Room.

9. May 17, 1846 The New York Herald New York, NY
Article from The New York Herald, May 17, 1846

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Navigation of the Ohio River. Places. Time. State of River. Deep water. Cincinnati May 11. 13 feet. Wheeling, May 8. 103 feet, falling. Pittsburg, May 11 11 feet, 8 inches. Louisville, May 9. MONEY MARKET. Saturday, May 16.6 P. M. The market was heavy this morning, but prices do not vary much from those current yesterday. Speculators are anxiously waiting for further accounts from the army of occupation. Ohio 6's, Farmers' Loan, Reading, Harlem, and Norwich and Worcester Railroad closed at yesterday's prices. Reading Bonds fell off 1 per cent; Morris Canal, 1; and Long Island, 1-while Canton went up 1 per cent. The transactions were not very large, and the market is very unsettled. It is a matter of much astonishment to many, that quotations for the fancies continue so firm under the circumstances, but it should be considered that war prices now rule, that everything has nearly touched bottom, and that in the event of the news from the South being fully confirmed, there is very little margin for a further decline. Had prices been very much inflated, there would have been a panic among the brokers, greater than ever before experienced; had the fancies been anywhere near former high prices, there would have been a terrible time among the bulls in Wall street, and the bears would not have been much better off than their victims. The market was, however, in a measure, prepared for the pressure, and the effect was not so severe as it otherwise would have been. The receivers of the late Lafayette Bank of this city, will pay a fourth and final dividend of eighty-six cents per share to the stockholders, on and after the 25th inst. The receivers of the late Union Insurance Company have declared their fifth and final dividend. A new counterfeit, not described in the detectors, on the Exchange Bank of Virginia, of the denomination of fives, is in circulation. They may easily be detected by observing in the vignette, that but one vessel is repre sented, whilst in the genuine there are several. The heads of Washington and Marshall on the ends of the note in the genuine, are close to the figures five, but in the counterfeit a considerable blank space intervenes.The signature of the President, W. W. Sharp, appears to be engraved. The filling up is In blue ink. On the whole, the counterfeit is well executed, and is well calculated to deceive. According to the report of the Commissioner of the General Land Office, it appears that the whole quantity of government land in Michigan, now in market, excluding, of course, the" mineral region of the Lake Superior country, is 14,611,524 acres. Of this amount there has been in market not exceeding 5 years 16,379,137 acres. 6,707,637 More than 5 and less than 10 years.