16819. St Lawrence Bank (Ogdensburg, NY)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
April 30, 1841
Location
Ogdensburg, New York (44.694, -75.486)

Metadata

Model
gpt-5-mini
Short Digest
4eb4854c

Response Measures

None

Description

Articles show the St. Lawrence Bank suspended redemption at Albany during the 'General panic' but 'fully resumes on the 30th' (reported 1841-04-28). Later December 1841 reports indicate a suspension (Dec. ~8) with efforts to resume within ten days. No explicit depositor run is described in these articles. I classify the overall episode as suspension_reopening because a resumption (reopening) is explicitly reported in April 1841. OCR corrected 'Ogdensburgh' -> Ogdensburg.

Events (3)

1. April 30, 1841 Reopening
Newspaper Excerpt
The St. Lawrence Bank at Ogdensburgh ... fully resumes on the 30th.
Source
newspapers
2. December 8, 1841 Suspension
Cause
Correspondent
Cause Details
Albany agencies had refused to redeem the bank's bills, prompting suspension (agency/correspondent refusal).
Newspaper Excerpt
Sr. LAWRENCE BANK.-We understand that this institution suspended payment last week. We are advised that efforts will be made to resume within the ten days prescribed by law
Source
newspapers
3. * Suspension
Cause
Macro News
Cause Details
Suspended redemption at Albany during the General Panic (agency/market upheaval); timing not specified in article.
Newspaper Excerpt
The St. Lawrence Bank at Ogdensburgh-which suspended its redemption at Albany at the time of the General panic,
Source
newspapers

Newspaper Articles (3)

Article from New-York Tribune, April 28, 1841

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Article Text

The Steamboat Accident.- - One of the passengers on board the South America, who is suppased to have inhaled some of the steam. died yesterday morning. His name was Garwin, and his residence at Troy. The Evening Journal says that the injury to the engine of the boat is less serious than was apprehended. She will be immediately repaired, and for less than half the expense estimated. Lake Champlain is said that loaded teams were crossing Lake Champlain at Plattsburgh on Friday last. There are three feet of snow only ten or twelve miles west of the Lake. The farmers are nearly all out of hay, and their cattle in a starving condition. IC" Shephen R. Rowan, of Shawneetown, is a volunteer candidate for Congress in the First District of Illinois. He declares that, though he has steadily supported Jackson and Van Buren, yet he will yield a liberal and independent support to the new Administration. if it redeems its pledges.He avows himself in favor of a National Bank. The Day Line of Steamboats between this City and Albany is fully reestablished. A boat leaves the foot of Barclay-street daily at 7 A. M. The St. Lawrence Bank at Ogdensburgh-which suspended its redemption at Albany at the time of the General panic, fully resumes on the 30th. The Exchange Bank of Genesee at Warsaw, has resumed payment and business, after a temporary suspens: Its old President is thrown over. BG The Columbia steamship sails from Boston for Liverpool on Saturday this week. The Great Western sails from this port the same day. Col. Wr. B. Dass, of Mobile. is nominated for Congress by the Whigs of the Fifth District, Ala., in place of Hon. James Dellet, declined. A convention of the Whigs of the Louisville, Ky. District was held at Lagrange on the 4th inst. W. H. FIELD, Esq. was unanimously nominated for Congress. Dr. Henry D. Ely of New Haven, Conn. was married in that city on Tuesday night of last week. and died on the Sunday noon following, aged 23 years. A large mill on Jones's Falls, about two miles from Baltimore, was entirely consumed by fire on the 24th inst. Read. the young man stabbed at Boston some days since, died on Sunday last. The Portland Argus states that Mr. Moses Butterfield murdered his wife and two youngest children in Sumner Co., Me., on Wednesday last. Two others of the family only saved themselves by flight. Mr. B. has been hitherto a highly respectable citizen of that town. but has been subject to fits of insanity. His alleged reason for murdering his family was to save them from eternal ruia at the approaching end of the world. He has been committed to jail in Paris.


Article from Vermont Watchman and State Journal, December 20, 1841

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Article Text

Banks wl use notes are not redeemed by the Comptroller : Alleghany County Bank, Washington Bank James Bank, Bank of Buffalo, Commercial Bank, Buff Sr. Lawrence Bank, Commercial B'k, Oswe. Staten Island Bank, Clinton Co. Bank. Bank of Olean, The Clinton Co. Bank at Platteburgh is included among the irredeemables, but the bank is probably good. We find the following in a Plattsburgh paper of the 11th instant. CLINTON COUNTY BANK. It appears by the Albany papers, that during the late panic, the Bills of the Clinton County Bank with others. were refused by their agencies at Albany on Monday. Such an occurrence we believe is not unusual. It SO happened that one of the directors, with remittances, did not arrive in time to prevent the occurrence. We understand the panic is subsiding. We therefore have no doubt but that the agency will he resumed in a few days. There can be no loss 10 the bill holders or depositors in any event. The directors have entire confidence in their ability to meet the liabilities, and we are happy to say that the publications referred to, have produced no alarm or excitement in this vicinity. The Bank redeems its notes whenever presented. The Ogdensburgh Times states that the St. Lawrence bank will resuine within the time rc. quired by law - e. ten days.


Article from The Middlebury People's Press, December 28, 1841

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Article Text

NEW YORK BANKS. There has recently been quite a stir among the New York Safety Fund Banks, and the report was current that there had been a general crash. It is now supposed that they will generally stand their ground. For the information of our readers we copy the following from the Albany Argus of Dec. 15. Ail the banks are at par, or 1 per cent, discount, save the following, which are redeemed by the Comptroller, but at a heavy discount. Binghampton Bank. Cattaraugus Co. Bank. Bank of Commerce, Bnffalo. Bank of Western N. Y., Rochester. U. S. Bank, Buffalo. Bank of Lodi. Mechanics' Bank, Buffalo. do. Erie Co. Bank, do. Phoenix Bank, do. Bank of America Merchants' Ex. Bb. do. do. Union Bank. Farmers' Bank Seneca Co., Real Estates Notes. do. Millers' Bank, Tonawanda Bank. Tenth Ward Bank. The following are not redeemed at all : Allegany Co. Bank. Bank of Buffalo. Commercial Bank,"Buffalo. Staten Island Bank. Bank of Orleans, Washington Bank, N. Y. James Bank. Commercial Bank, Oswego. Clinton Cc, Bank. Sr. LAWRENCE BANK.-We understand that this institution suspended payment last week. We are advised that efforts will be made to resume within the ten days prescribed by law, which we hope will prove successful as the failure of this institution will be productive of very serious consequences to many of the Stockholders.--Ogdensburgh Times, Dec. 8.