Commercial Bank - Troy, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: February 23, 1863
Location: Troy, New York (42.728, -73.692)

Metadata

Model: gpt-5-mini
Short Digest: 28764d22

Response Measures

None

Description

Article (New-York Daily Tribune, 1863-02-23) states 'The Commercial Bank of Troy, which is closing up its business, is now paying a dividend of 70 per cent, in gold.' This indicates the bank is winding up (voluntary liquidation/closure). No run or depositor panic is mentioned.

Events (1)

1. February 23, 1863 Suspension

Cause: Voluntary Liquidation
Cause Details: Bank is 'closing up its business' and paying a dividend while winding up operations; indicates voluntary liquidation/closure.
Newspaper Excerpt: The Commercial Bank of Troy, which is closing up its business, is now paying a dividend of 70 per cent, in gold.
Source: newspapers

Newspaper Articles (1)

1. February 23, 1863 New-York Daily Tribune New York, NY

Article from New-York Daily Tribune, February 23, 1863

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Article Text

Total since Jan. 1. $31,215,384 $23,765,035 The following sales of stocks were made at auction to-day by A. H. Muller: By order of the Executrix of Ann Forbes, deceased. 1032 $2,000 State of North Carolina 6 p cent 90t 2,000 State of Missouri 6a 1241 5,000 Hudson River R.R. 78 1001 1,000 N Y. & Harlem R.R. Bonds 119 500 N. Y. Central R.R 93 3,000 U.S. 6s of 1867 137 15 shares Boston & Providence R. 964 12 shares Hudson Rive: R.R 981 11 shares Michigan Central R.R 105 10 shares Screw Dock Co 121 60 shares Mechanics' & Traders' Bank 481 16 share# Commercial Bank, New-Orleans 67 10 shares Academy of Music, Brooklyn 201 7 shares Equitable Fire Ins. Co 160 5 shares New-York Fire and Marine Ins. Co 202 60 sbares Lopy Island Fire Ins. Co By order of the Executors of Amasa Wright, deceased. 121 $5,000 Cleveland, Paine-ville & Ashtabula 7s 97 4,200 Chicago & North-Western 7 - cent Int. Bonds 791 7,000 Evanaville & III. Central lat mort The Norwich War Bonds, amounting to $40,000, have been taken by the Norwich Savings Society at 13 1-100 premium. The President and the Finance Committee of the Long Island Railroad Company state that it isexpected thata dividend of $1.50 per share will be declared in April, and that thereafter three per cent on the capital will be divided semi-annually. The earnings of this Company, in December, 1862, and January, 1863, show an increase over the earnings of December, 1861, and January, 1862, of $7,853 17, and for the ten months ending January, 1863, of $28,769 34 over the amount of earnings for the corresponding months of the previous year. The Commercial Bank of Troy, which is closing up its business, is now paying a dividend of 70 v cent, in gold. So great is the demand for nickel centsat the mint, that orders for them are far in advance of the coining espacity of that institution. Orders are received and executed in turn, running from one to three weeks in time. Annexed is the joint resolution in relation to enlarged facilities for transy ortation between the Great Lakes and the Atlantic coast and Europe, adopted unanimously by the Senate and House of Representatives of the State o's Illinois, the 14th day of Feb. ruary, 1863: