16835. Commercial Bank (Oswego, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 10, 1841
Location
Oswego, New York (43.455, -76.510)

Metadata

Model
gpt-5-mini
Short Digest
a35f939a

Response Measures

None

Description

The Commercial Bank of Oswego was one of the Safety Fund banks that failed/suspended in Dec 1841; a receiver was appointed (reported Jan 27, 1842). The articles describe insolvency and inability to redeem circulation; no clear independent depositor run on this specific bank prior to suspension is described (an article mentions a run on the Oswego Bank after the Commercial Bank's failure, but that appears to refer to a different local bank). The bank remained in receivership and its circulation was treated as broken; assets insufficient to cover notes.

Events (3)
1. December 10, 1841 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was weak/insolvent among Safety Fund banks; identified as having failed or suspended circulation and unable to redeem notes.
Newspaper Excerpt
The Commercial Bank of Oswego ... were known to be weak. Their failure, therefore, need not create apprehension in relation to other Banks.
Source
newspapers
2. January 27, 1842 Receivership
Newspaper Excerpt
Thes. Beekman, Esq. has been appointed Receiver for the Commercial Bank of Oswego.
Source
newspapers
3. September 12, 1842 Other
Newspaper Excerpt
The amount I have collected in current funds, as Receiver of the Commercial Bank of Oswego, is $2,473. The assets in my hands will not, in all probability, pay any part of the circulation.
Source
newspapers

Newspaper Articles (9)
1. December 10, 1841 New-York Tribune New York, NY
Article from New-York Tribune, December 10, 1841

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THE BANKS.- The panic of last week, in rels. tion to our Banks, has measurably subsided, and with reasonable forbearance on the part of Brokers and the Newspapers, we have cause to apprehend little more difficulty with these Institutions. All, or nearly all, of the unsound Banks have failed. Those that have stood through the severe ordeals of the past, may look to the future with confidence With very few exceptions, the Safety Fund Banks and the Associations under the General Law, are now net only solvent but unembarrassed. The failure of the Buffalo Bank has threws a large amount of paper for redemption upon the Safety Fund. This demand upon that Fund should be met promptly. The contributing Banks them. selves have the deepe-t and most direct interest in the ready redemprien of these notes. The Safety Fund is a tower of strength to the Banks from which that Fund is drawn. Let them meet the emergency ROW presented. and in all future time the public confidence in them will be inviolable. It is now confidently believed by capitalists that the last of the is ppling Banks have fallen. The Commercial Bank of Oswego and the Clinton County Bank were known to be weak. Their failure, therefore, need not create apprehension in relation to other Banks. Should the Safety Fund be replenished, as it ought to be, and the notes of the insolvent Banks redeemed early, we shall be exempted from further embarrassments in our State currency. [Alb. Eve. Jour.

2. December 20, 1841 New-York Tribune New York, NY
Article from New-York Tribune, December 20, 1841

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The following is from the official report of the situation of the New Orleans Banks on the 4th of December: Banks. Deposits. Cirla's. Bk Notes. Specie. N. O Canal and Bg Co.13x215 564,765 247,125 115156 238295 44 812 42.190 Carrellton RR Bg Co. 59,653 273,669 215,201 City Bk. N. Orleaus. 715 574 567,650 628 890 476.490 155,014 165,145 Commercial 266 229 499,315 19,990 492,199 Consolidated Ass's 82 933 356.5.6 85,321 86,810 Ex. and Banking C5 10 777 23 485 12:200 17,682 Gus Light and Bg Co 31,864 92,700 621,625 Imp. and Banking Co.331.747 342 585 750,468 172,406 805,830 Bank Louisiana 103 365 399 244 327,617 723 448 Louisiata State Bank 111 542 62,305 565,530 87 223 Mech. and Traders 38.365 65242 12578 341,000 Bank of Orleans 157,370 45.682 736722 636 75 Union 37 550 57,043 355,530 199,275 Atchafayia Total 4,912,2525,870,375 2,048,5172,336,24 The Oswego Herald states that 111 consequence of the failure o: the Commercial Bank of that place, there had been an active run on the Oswego Bank. After draining a large amount of specie the 11111 had subsided, and the starm in regard 10 its solvency had passed away. Nearly all the circulation was taken up, but the Bank had commenced paying out its own paper again.

3. January 19, 1842 The New York Herald New York, NY
Article from The New York Herald, January 19, 1842

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Such a construction of the act, dividing upon the balance of the fund, would, or might, reduce the Bank Fund to a mere nominal sum: and would, or might, as is above suggested, exhaust the fund to the prejudice of the general creditors of a prior failing bank, who were supposed to have a preference. The different views of the Bank Commissioners and the Comptroller as to the just construction of the act in this particular, have been the subject of correspondence between them: but there has been no further action upon the subject, nor has the Comptroller felt it his duty to take any measures for the immediate redemption of the bills of this bank. The Bank Fund, even with the aid of the contributions of the first of January instant, will be entirely insufficient to redeem the outstanding circulation of all the Safety Fund Banks which have suspended; and as the fund, according to existing laws, is only to be replenished by the annual contribution of one half per cent capital of the Safety Fund banks, the bills of the Commercial Bank of Buffalo, Commercial Bank of Oswego, and Clinton County Bank, whose united outstanding circulation is estimated at about $870.000, can not all be redeemed from the Bank Fund for some four or five years to come, without further legislative provision for replenishing the fund more rapidly than is now authorized by law Bill holders must therefore wait the slow accumulation of the annual contribution of the one-half per cent. or further legislation will be required. The result of the investigation of the affairs of some of the Safety Fund banks recently suspended, as well as the former experience in the case of the City Bank of Buffalo, would seem to show that some further safeguard is necessary to prevent frauds upon the Bank Fund by over issues beyond the prescribed limits. The act of 26th May, 1841, (chap. 292, sec. 4.) makes the wilful violation of its provisions in relation to such over issue, a misdemeanor; but this penalty and the previous legislation upon this subject, have not prevented over issues, which are now chargeable to the Bank Fund, and are a fraud upon that fund, to an amount ascertained or estimated to exceed the sum of $300,000. The checks imposed by the General Banking Act, but now applicable only to the free banks, requiring the previous registry and countersigning by the Comptroller of all the circulating notes, seem to afford sufficient protection upon this point; and it is respectfully suggested whether the principle might not be advantageously adopted and applied in relation to the circulating notes of the Safety Fund banks, by compelling existing banks to account to the Bank Commissioners for the bills already in circulation, and prohibiting the issue of new bills, except under the direction and supervision of the Bank Commissioners, or other proper officers. The plates might be deposited in some appropriate place for safe keeping, and if bills were issued only under the direction of some public officer, over issueo might be effectually guarded against.

4. January 27, 1842 The New York Herald New York, NY
Article from The New York Herald, January 27, 1842

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MONEY MARKET. Wednesday, Jan. 36--6 P. M. The markets generally have resumed the appearances they presented before the arrival of the late news. Cotton, which at first was buoyant, is again dall, and hold. ers are disposed to sell at the rates current last week; stocks bave renewed their downward tendency. There is nothing in the late news to warrant the hope of any speedy improvement in affairs. The appointment of Lord Ashburton is looked upon as an evidence of the determination of Great Britain to maintain peace if it can be done on her own terms, and not otherwise. In the leading political journals of London the Measage of the President is sneered at as "the conciliatory talk" of the "Peace-loving President," and hopes's are indulged that the Americans will not be so unreasonable as to resist the 'supervision of England as the Marine police of the world." From the present state of affairs, the shade which the political relations between the two countries throw over the financial world seems to have deepened, and the market was heavy to-day. Indiana 6 par cent bonds fell I per cent; Harlem 1; Canton à; New York 5's, 1 per cent; do 6's, improved 14 per cent; Ohio 6's, 2 per cent. Thes. Beekman, Esq. has been appointed Receiver for the Commerciai Bank of Oswego. The Clinton County Bank, Safety Fund, which recently revived, is going to attempt to stagger on.The redemption of its notes are resumed at the Mechanics' and Farmers' Bank, Albany. The Michigan Suspension Act of last year has been repealed. Since the opening of the Reading Railroad, 200 tons of coal have been received in Philadelphia, by that chan. nel. The supply of coal is constantly inereasing from other sources, and for the coming year prices must exceedingly low. The Morris Canal is about to be put in active operation; through it 100,000 tons of coal, in 2500 boats, it is estimated will arrive annually at Jersey City; and the Lehigh Company advertise to deliver at $41 per ton, as soon as the navigation opens. This is cents per ton less than it costs to mine the Lackawana The great canal coal monopoly is about to be broken up, and the opportunity is a favoroble one for the imposition of the tax upon coal to pay the State debts by the Penneylvania Legislkture, which we suggested some time ago. Since then a bill to tax coal 25 cents' per ton, has been introduced into the Legislature. This would yield $300,000. It is to be hoped that the interest will be punctually met on the 1st proximo. The London Times, after copying the late letter of the State Trea. surer on the subject, remarks as follows:The assurance thus given that the interest due on 1st February will be punctually paid cannot fail to tran quilise the fears of the English creditors of the State of Pennsylvania; and the explanation which the above let ter also affords of the cause of the further requisition upon the banks shows that, instead of looking with alarm upon that step, they should feel greater confidence from it, as it has been adopted solely for their benefit, to guard against any contingencies. A large amount of Union Bank of Florida post notes, endorsed by citizens of Florida, due in this city, on the 1st inst. have been protested for non-payment. The following are the leading features of the Bank of Kentucky and Branches, Jan. 1812, and Jan. 18:1. BINE KENTUCKY BRANCHEA.

5. September 4, 1842 The New York Herald New York, NY
Article from The New York Herald, September 4, 1842

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MONEY MARKET. Saturday, Sept. 3.-6 P. M. Stocks improved to-day. All kinds went up a peg or two above previously quoted rates There is a much be'. ter feeling in the street. New York State 5}'s improved 1; New York Seven Per Cents. Kentucky declined 1; Indiana improved 1; Illinois ; Deleware and Hudson 1. James Van Nostrand has been elected President of the Merchant's Exchange Bank. There has been an improvement in domestic exchanges. The restoration of confidence is having its effect. We take the following in relation to the safety fund from the last Albany Argus: We are glad to understand that the present condition of this fund promises something better than the statement by the Comptroller, published in the Argus on the 18th of July last, led us then to anticipate. The holders of the bills of the broken banks may now look for an earlier redemption than the facts as they existed six weeks ago promised. Then but fourteen banks, and those of small capitals, had commuted or availed themselves of the law which permits the anticipation of their yearly contributions of the half of one per cent. on their capitals, in broken bank notes at par. But now twenty-two banks have come forward and voluntarily paid into the treasury over $200,000, and others of large capitals are preparing, we are informed, to avail themselves of the law to its fullest extent, and pay in at once for the whole six years. This judicious and commendable movement on the part of the banks is already being beneficially felt, and will be the means of reinstating confidence in the Safety Fund system. The $200,000 taken from the market was mostly held in small sums, and by individuals who were greatly in need of relief; what remains unredeemed is principally in large masses, and in the hands of those who can afford, and who expect to wait for the replenishment of the fund. Consequently there is not much paper in the market, and what little there is, is fast disappearing. The comptroller's statement above referred to, startled us at the time with the fact that of the $1,069,143 48, the amount of the fund on the 1st of April, $918,949, had been consumed in the redemption of the notes of four banks only, leaving the entire circulation of five banks, amounting to $1,111,447, unredeemed, exclusive of $30,000 of the notes of the Bank of Buffalo, said to be illegally issued. But upon investigation it is fo nd that the fund will get material relief in the amount to be repaid by the Commercial Bank of New York [$131,731] and in the large amount of available assets of some of the other suspended banks-the La Fayette, the Clinton, the Watervliet, the Lewis County, and the Commercial Bank of Oswege, whose aggregate cir ulation is supposed to be about $700,000, will not probably be ultimately a charge upon the fund. This morning we received fifteen days later advices from Europe. We look upon the news as being very important in a commercial point of view. It is to be seen, on reference to our columns, that the distress-the starving condition of the people in the manufacturing districts-has led to serious and disastrous riots, These, of course, caused some agitation in the Lonton money market for a time, although at the latest accounts, affairs appeared'more favorable. Thedisorganised state of the districts, and the con. sequent suspension of business, were expected to affect the cotton market, and lead to a decline; but contrary to expectation there sprung up a very fair demand, and an improvement in prices took place. The market closed with firmness, and a speedy settlement of affairs would unquestionably be followed by an extensive demand for cotton at better prices. Annexed is the weekly average of the circulation of the United Kingdom, according to the returns as made up to the 23d July, 1842, in comparison with the returns previously made to June 25, 1842. 1019 1019

6. September 16, 1842 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, September 16, 1842

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# MONEY MARKET, Sales at the Stock Exchange, Sept. 15. 25 Del & Hud. 530d 241 50 Harlem... ...sl0d 17 25 do.. 841 50 do b60d 17 50 do s20d 84 150 do. $30d 164 25 do .. 844 50 do b60d 171 25 do 843 50 do 174 37 Bank of Kentucky... 41 200 do. $300 164 50 Mohawk R.b60d 37 50 do 174 50 L. Island, .b60d 504 25 do. 174 100 do ..caslı 50% SECOND BOARD. 25 Mohawk R.. 37 25 Harlem .s3d 17 25 do .b3d 37 95 de 174 200 Long Island RR.50 # Commercial and Money Matters. THURSDAY P. M. The sales at the Board to day were not large, and prin- cipally of Harlem, which left off at 171, an improvement of per cent. Long Island was heavy. Delaware declined per cent. Mohawk sold at 37, a decline of 14 per cent. on the last sale. In State Stocks there was very little done. Prices were generally firm. The transactions were- $2,000 Illinois 6s, 1870.... 18 $3,000 Ohio 6s, 1860.660d 73 $1,000 do do. 18 The sales of Foreign Exchanges were to considerable extent, and some Sterling sold as high as 8 per cent. We quote 7 a 8 per cent. Francs 5.321. The supply of bills continues limited. Some doubt has been expressed as to the correctness of the statement touching the A labama interest money. We are assured, from the best authority, that it is already here, aad will go by the next steamer. The Commissioners of the Canal Fund have issued a no- tice that proposals will be received for a loan of $250,000, at 7 per cent interest, stock for which will be issued at the Manhattan Bank on the 1st of October. P. Chonteau, Jr. advertises that all drafts drawn by P. Chonteau, Jr. & Co. of St. Louis on the American Fur Company, will be duly paid at maturity. The suspension of the Company, it is anticipated, will only be temporary. It was produced mainly by having a large amount of funds locked up. We hope seon to see it in operation again. The Bank of Lyons has been enjoined by the Vice Chan- cellor of the Seventh District, on the application of the Bank Commissioners. The Bank has about $60,000 of the Canal Fund moneys. It had about $50,000 when the present State Officers came in, on which interest is due, and, being one of the Deposite Banks for the Collectors of Toll, has about $7,000 of the accruing revenue. We believe this Bank has been in difficulty once, it not twice before. The Evening Journal states that under the present officers the Bank has been well managed. The communication in the Argus some days since in rela- tion to the situation of the Safety Fund, which we copied, has drawn out the Comptroller, who has addressed the re- ceivers of the broken banks upon the subject of the amount which will probably be repaid to the Fund. The commu- nication alluded to, by the way, is ascribed to the State Bank of Albany, which holds $300,000 of the suspended bank notes, and to a large uncurrent money house in Wall- street, (the diamond pin victim,) also largely interested in broken notes. In answer to the Comptroller, Mr. Blatch- ford, Receiver of the Commercial Bank, says: There is no probability that any portion of the amount advanced by the Comptroller to redeem the circulation of the Commercial Bank will ever be repaid. The total amount of acknowledged liabilities of the Bank, exclusive of capital stock and circulating notes, was $175,728. Assets $114,320. If no more than the above is realized, there will be a deficiency of $61,408. I have also on hand securities, which are of but little value, I fear, to the amount of $137,- 250. From this statement, which is generally (though not meant to be entirely) accurate, you will be able to form some opinion whether there is any probability of the Safety Fund being reimbursed any thing." Mr. Beckman, Receiver of the Commercial Bank of O- wego, says: "The amount I have collected in current funds, as Re- ceiver of the Commercial Bank of Oswego, is $2,473. The assets in my hands will not, in all probability, pay any part of the circulation. If I shall be able with them to pay up the debts on the real estate and indemnify the Safety Fund against the debts, it will probably be all I shall be able to do." In relation to the payments of the Banks to the Safety Fund, the Comptroller says: "Twenty-four Banks have commuted; sixteen of them at 2 and the residue at 3 per cent. The total sum paid by these Banks is $183,673. This sum has been paid in the notes of insolvent Banks, as follows: Com. Bank, Buffalo.. $45,903, Lewis County Bank.. $504 Watervliet Bank 36,815 Lafayette Bank. Clinton Co. Bank... 22,569 3 $183,673 Com. Bank of Oswego 77,879 There has been presented for redemption, of the notes of he Bank of Buffalo, $416,000." The tolis at Rochester for the last three weeks amount to $18,343 42. It was stated thit the Columbia Bank and Bridge Com- pany was paying specie, then it was said it was not; now the Lancaster Intelligencer says it is. We don't know which way to think. Some of the Richmond Banks are now paying specie, and some of them have a dollar in paper for a dollar in spe- cie, and are much curtailed. At Mobile Exchange had improved. Bills are not in much demand, and the supply limited. Sales at S8 a 40 per cent. Specie 37 a 40. There is a great want at Chicago of a geod currency.- The circulation is made up of State Bank of Indiawa and Wiskonsin Fire and Marine Insurance Company, with a few Utica and other Eastern notes. The Daily American says that if they had sufficient circulation, Wheat would doubt- less be worth 10 to 15 cents per bushel more. At Buffalo Eastern Exchange is in demand, and moneyed operations were to much larger extent than for some time past.

7. September 16, 1842 The New York Herald New York, NY
Article from The New York Herald, September 16, 1842

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NEW YORK, Sept. 10, 1842. A. C. FLAGG, Esq. Dear Sir-I am favored with your letter of the 8th inst. The information you seek is contained generally in my letter to you of the 9th May. There is no probability that any portion of the amount advanced by the Comptroller to redeem the circulation of the Commercial Bank will ever be repaid. The total amount of acknowledged liabilities of the bank, exclusive of capital stock and circulating notes was, viz :$44,000 Due Canal Fund, " 114,000 City Banks, " 60,000 Country Banks, " 86,000 Individual depositors, " 9,800 Sundry claims for bills ekch. endorsed, $313,800 128,072 Dividend paid February last, 44 per cent, $175,728 Balance still due, Assets. Bills discounted under protest $309,000, of $10,000 which may be realized perhaps Bills discounted not yet due, $31,000, of which 26,000 we may realize, say 15,000 1376 shares Hudson Ins. stock, worth say 8,320 do 1664 do Williamsburgh do 10,000 Real estate, worth say Cash on hani, placed at interest at 7 per cent 45,000 under direction of court $114,320 If no more than the above is realised, there will be a deflicency of $61,408. I have also on hand the following securities which are of but little value I fear, viz :$86,000 North American Trust Co. notes 8,050 161 shares Forest improvement Co. (par) 3,500 100 do Patent Nav. Co. 5,000 50 do N. A. Trust Co, 13.800 133 do Southern Life Ins. Co. 378 do Lockport and Niagara Fails Rail18,900 road Co. 2,000 20 do Commercial Bank of Buffalo, From this statement, which is generally (though not meant to be entirely) accurate, you will be able to form some opinion whether there is any probability of the safe. ty fund being reimbursed anything. I am, with great respect, your obt. servt., R. M. BLATCHFORD. Since the above was prepared, the Comptroller has received the following letter from the Receiver of the Commercial Bank of Oswego :OSWEGO, Sept. 12, 1842. DEAR SIR:The amount have collected in current funds, as Receiver of the Commercial Bank of Oswego, is $2,473.The assets in my hands will not, in all probability, pay any part of the circulation. If Ishall be able with them to pay up the debts due on the real estate and indemnify the safety fund against the debts, it]will probably be all I shall be able to do. From this statement you will be able to judge of the prospect of a dividend. Respectfully, your obt. servt., T. BEEKMAN. The annual report of the Secretary of the Treasury, made up to the 1st October 1841, has just come to hand.From it and former reports, we compile the following table of the exports of the domestic produce and manufactures of the United States, for three years :SUMMARY STATEMENT OF THE VALUE OF THE EXPORTS OF THE GROWTH, PRODUCE, AND MANUFACTURE, OF THE U. STATES, DURING THE YEAR COMMENCING ON THE 1st OCT. AND ENDING ON THE 30TH DAY OF SEPT., FOR THREE YEARS. 1000 1999 1011

8. October 5, 1842 Southport Telegraph Kenosha, Southport, WI
Article from Southport Telegraph, October 5, 1842

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The Comptroller of New York has received a letter from the receiver of the Commercial Bank of Oswego, in which he states he has collected $2,473 and the assets will be to pay any part of the circuation.

9. October 24, 1842 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, October 24, 1842

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COMPTROLLER'S OFFICE, Albany. Oct. 15. 1342. REDEMPTION OF SAFETY FUND NOTES. The act, chapter 247 of the Laws of 1842, allowed the Safety Fund Banks until the 12th of October, instant, to make up their contributions to the Safety Fund, by paying into the Treasury not less than two nor more than three per cent of their capitals, in the notes of any Safety Fund Banking Corporation, against which an injunction had been issued. Sixty-four banks, with an aggregate capital of $22,665,248, have paid into the Treasdry, in the notes of the broken banks the sum of $477,600. Twenty-Jeveli banks have paid 2 per cest on their capital, two have paid 24 per cent, and thirty-five have paid per cent. The contributing banks are by the law allowed a rebate of interest at the rate of 7 per cent. from the time they pay the bills to the Treasurer, until the several periods when the payments of half of one cent on their respective capitals would becorile dtle.Theirtal amount of rebate on the aggregate sum for which the sixty-lour banks have commuted, is $74,185 41. There are sixteen banks having an aggregate capital of $6,£40,000, which have not commuted. The annual contributions of these banks at 4 of one per cent. will amount to $33,200. A statement is annexed, giving the names of the banks which have commuted and the amount paid in each case. The notes paid into the Treasury by the banks which have commuted, are will the following banks, viz: $138.528 Commercial Bank of Buffalo 140,530 Commercial Bank of Oswego 98,877 Watervl et Bank 73,679 Clinton County Bank 636 Lewis County Bank 25,545 Bank of Lyons 14 Lafayette Bank $477,609 In the Comptroller's circular of the 13th of July, the circulating notes of the Commercial Bank of Buffalo, the Commirrcrai Bank of Oswego, and the Watervliet, Clinton County $1,111,447 and Lewis County Banks. are given at The failure of the ank of Lyons will add to this 100,000 sum $1,211,447 Deduct notes paid by the banks which have com477,609 muted $733,833 And it leaves to be provided for If the Lewis County Bank resumes, there will remain about $600,000, to be provided for by the small balance of the fund on hand, and the future contributions of the banks. There has been redeemed of the notes of the Bank of Buffalo, up to the 15th of October, the sum of $12,587. This includes the $30,000, the redemption of which was suspended at the date of the last circular. The available balance of the fund may be put down at $60,000, which will leave about $540,000. to be paid from future contributions. The contributions of sixteen banks which have not comrouted will yield only $33,200 annually for four years. The whole of the circulation of the Commercial Bank of Buffalo cannot be taken up by the funds on hand and the contributions to be made until January, 1847. If the Banks which have omitted to pay the call of half of one per cent. should pay up, as estimated in the statement annexed. and the claim against Union College can be made available, a dividend or 35 or 40 per cent. on the notes of the Commercial Back of Buffalo may be made in January next. In January, 1847, the banks which have paid only two cent. on their commutation, will be required to contribute half of one per cent. The banks tbus situated have an Cggregate capital of $12,516,200, which added to the capital which has not commuted at all, makes a total of $19.156,200, 00 which half of one per cent. will be paid in January, 1847, yielding $95,781 to the Bank Fund. This may leave a balance of $15,000 or $20,000 of the notes of the Commercial Bank of Buffalo unredeemed; but the balance of notes outstanding of the Con:mercial Bank of Oswego being only $20,000, the contributions of 1848 will cover the balance, if any, of the Commercial Bank of Buffalo, and redeem those of the Commercial Bank of Oswego in full. The contributions in January, 1849, will be uponti whole capital of the Safety Fund Banks, as the commutation of of three per cent. pays up only to January, 1848. The total capital is $29,805,218, which at half of one per cent will make the contributions in January, 1849, $146,526 24. This stim will redeem the outstanding notes of the Watervleit, Clinton County and Lyons Bank. In the Comptrolier's circular of the 13th of July, the several statements were based on the assumption that the Safety Fund would be nade liable for a sum equal to the amount of notes of the several banks in circulation at the time they were respectively cojoined. Since the publication of the former circular, inquiries have been made of the Receivers, as to the probability of refunding to the Safety Fund any portion ot its advances, from the assets of the banks. And to test this question the Comptroller asked the Receivers to inform him how much they had collected from the assets of the banks respectively. in current funds; what the acknowledged liabilities of the backs are, and when a dividend to the creditors might be expected, and the amount of such dividend? The ackne wledged debts of the broken banks, over and above the outstanding notes, at the time they were enjoined, were as follows, viz: 000