1853. Woodbury Bank (Woodbury, CT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 4, 1858
Location
Woodbury, Connecticut (41.545, -73.209)

Metadata

Model
gpt-5-mini
Short Digest
0a0a753a

Response Measures

None

Description

The Woodbury Bank (CT) was placed under injunction and a receiver appointed in June 1858; receivers later advertise payments of 80% on notes (Jan 1859), indicating winding up and permanent closure. No newspaper describes a depositor run; the action was a court injunction/receivership.

Events (4)
1. June 4, 1858 Suspension
Cause
Government Action
Cause Details
Court injunction placed the bank in hands of a receiver; ordered to be wound up (injunction and receivership).
Newspaper Excerpt
The Woodbury Bank, of Connecticut, was enjoined yesterday by the commissioners, and is to be placed in the hands of a receiver to be wound up.
Source
newspapers
2. June 18, 1858 Other
Newspaper Excerpt
The temporary injunction granted a few days since against the Woodbury Bank, of Connecticut, has been made perpetual, and a Receiver appointed to administer its effects.
Source
newspapers
3. June 24, 1858 Other
Newspaper Excerpt
Receivers ... have been appointed, by said Judge, Receivers of the effects and property of said Bank. Dated the 18th day of June, A. D. 1858. GEO. C. WOODRUFF ... LEWIS JUDD
Source
newspapers
4. January 26, 1859 Other
Newspaper Excerpt
By virtue of an order of the Superior Court, the Receivers will pay EIGHTY per cent. of the Bills of said Bank, on presentment, by the payees, of the Certificates issued by the Receivers for such Bills.
Source
newspapers

Newspaper Articles (11)
1. October 31, 1857 Vermont Phœnix Brattleboro, Bellows Falls, Ludlow, VT
Article from Vermont Phœnix, October 31, 1857

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Uncurrent Bank Bills. Under the present temporary arrangement during the panic, the bills of the suspended Banks of New England and New York are generally current in Boston and New York.The exceptions up to this time are all given below ; and in regard to these it is supposed that the bills are good in most cases, though not bankable. Or those Banks in this State set down as uncurrent, the Royalton, Stark, Missisquoi, and St. Albans, are undoubtedly good, and holders of bills should not submit to a sacrifice on them. The bilis of the following Banks are not received at the Suffolk Bank, Boston, nor at the Metropolitan Bank, New York : MAINE. China, and Canton, at China. Ellsworth, at Ellsworth. Exchange, at Bangor. Hallowell, and Central, at Hallowell. Hancock, at Ellsworth. Maritime, at Bangor. Monsum River, and Sanford, at Sanford. NEW HAMPSHIRE. Exeter, at Exeter. Weare, at Hampton Falls. VERMONT. Danby, at Danby. Missisquoi, at Sheldon. Royalton, at Royalton. South Royalton, at South Royalton. Stark, at Bennington. St. Albans, at St. Albans. MASSACHUSETTS. Manufacturers, at Georgetown. Western, at Springfield. RHODE ISLAND. At present all notes issued by the Rhode Island Banks are rejected, although most of them are current in their own State. CONNECTICUT. Bridgeport City, at Bridgeport. Charter Oak, at Hartford. Colchester, at Colchester. Exchange, at Hartford. Hartford County, at Hartford. Hatters, at Bethel. Mercantile, at Hartford. Merchants' Exchange, at Bridgeport. North America, at Seymour. Palaquioque, at Danbury. Pawcatuck, at Pawcatuck. Quinebaug, at Norwich. Thompson, at Thompson. Uncas, at Norwich. Windham County, at Brooklyn. Woodbury, at Woodbury. Wooster, at Danbury. NEW YORK. Agricultural, in Herkimer County. Central Bank of New York, at Utica. Dairyman's, at Newport. Hamilton Exchange, at Greene. Hollister, at Buffalo. Huguenot, at New Paltz. Medina, at Medina. Niagara River, at Tonawanda. O. Lee & Co.'s Bank, Buffalo. Ontario, at Utica. Orleans, at Albion. Reciprocity, at Buffalo. Sacketts' Harbor, at Buffalo. Troy City, at Troy. Yates County, at Penn Yan.

2. June 6, 1858 The Washington Union Washington, DC
Article from The Washington Union, June 6, 1858

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The Woodbury Bank Enjoined. NEW Haven, June 4.-The Woodbury Bank, of Connecticut, was enjoined yesterday by the commissioners, and is to be placed in the hands of a receiver to be wound up. There will be no serious loss to the holders of the circulating notes ; but the stock will be a total loss. This bank was in 1853 placed under injunction, but subsequently released by the court. Since then it has done little business beyond the issue of its notes.

3. June 14, 1858 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, June 14, 1858

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NEW-YORK DAILY TRIBUNE, MONDAY, JUNE 14, 1858, struction of our own property, but to pay the expense Friday. New-York Central went np to 811 for th of it. regular stock, and although slightly lower after the th The notes of the James Bank and Bank of New ele call, was firmer and better again between the sessions DeIL Bank Rochelle, N. Y., must be prese the to unted of the Board. Erie advanced to 171, with but moderen partment, Albany, on or be "Ore the 17th instant. The ate business in the stock, receding I on the second call, to outstanding circulation of ese banks is about $12,340. se but finally closing steady. Notwithstanding the anB We understand that the recent election of the nouseement of an interruption of the harmonious arof y Terre Haute and Alton Road, Mr. Edwin C. Litchfield rangements hitherto existing between these two roads, ce of this city was elect President. d the market seems unaffected. Reading and Rock Ieltri Mr. Charles F. F runter has been elected President and were next in point of activity-the former advancru of the People's 50 sank. ing to 421, and the latter rising to 73 in early sales, but ce The injunet at the close of the call receding to 721. The transfer non against the Woodbury Bank, Conn., of has been 8' d books of the Rock Island opened this morning, and the astained, and 8 receiver appointed. W We h. office was througed during business hours-the number 88 4ve received 8 copy of the annual report of the Cant/ th of transfers being unusually large. We hear nothing in Company of Baltimore. It is devoted mainly to in the affairs of the Northern Central Railroad, which as yet from the election of Directors, but understand of that Mr. Flagg's name has been omitted in making up nas not yet made its connection with the Canton propte the new ticket. Michigan Southern common and prete erty, by reason of & difference with the City Councils. no ferred shares were both better, and quite eter From this connection the Canton Company anticipate 4dy an large advantages. The Company now own one thouthroughout the session, without especial act avity. nu send shares of its own stock, and it is intended to invest Hudson River, Toledo and Galena participated in the all its receipts after the payment of expenses, &c., in rising movement, and indicated the same ungree of M the purchase of stock, thus gradually liquidating the firmness noticed in other stocks, but ere not promiCompany. The statement for the year is as follows: nent in the movements. Milwaukee Lnd Mississippi adfai RECEIPTS of the Canton Company of Baltimore, for the year vanced to 21 on sales of 180 shares 1. and andears to be

4. June 15, 1858 Kanawha Valley Star Charleston, WV
Article from Kanawha Valley Star, June 15, 1858

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$25,000.-In the vicinity of Fred rickshurg. Va., a severe hail storm 1'0 ently took place, damaging property i amount of $150,000, Over 360,00 ushels of wheat were destroyed withi length of 10, and a breadth of 3 mile: -In Prince Edward, Buckingham an umberland counties, in this State, th heat crop has suffered considerabl the fly and joint worm.-A bab flourishing in Monroe county. N. C 11 months old, and weighing 6 ounds!-A man named "Jem" died a ew Orleans on the 28th ult. from th effect of drinking 16 glasses of gir a wager.-A strong tea of dog-woo bark, and wild cherry bark, is said a suro cure for ague and fever. Tal half pint just before the chill comes 01 a wine glass full three times n da ten days, the shakes will leave you.hard-shell preacher, in speaking Daniel in the lion's den, said There I all night, looking at the show f othing, it didn't cost him a cent 1"aniel must have been an editor, an in as the Point Pleasant and R enswood editors did into Madan arker's show--as a dead-head" or swell-head."-Beef cattle are eno ously high in Richmond-$10 to $1 hundred.-Somebody says, " Oi rains are seventy year clocks; the A of life winds them up once for al closes the case, and gives the ke the hands of the Angel of the Re rrection."-$40,060 have been paid be citizens of Whateley, Mass., for T ácco, this spring. The farmers in th egion are preparing to raise more the this year.-The jury in the case Wm. Walker of fillibuster notoriet New Orleans, have disagreed upon erdict. The General demanded a ne but a nolle prosequi has been è ered.-A young man out West, escribing heaven, says: "It is a wor bliss, fenced in with girls." If th true, and we are so fortunate as to g we intend to get in a fence corne lady in Ohio was poisoned last wee eating the leaves of the rhubarb, plant. The leaves are a rank poiso hile the stalks, or peduncles, are an e ellent esculent. Care should be take entirely strip off the leaves.-The Se stary of the Navy has declined to son second steamer to aid in laying the A Telegraph cable.-The Woodbut ank, Ct., has been enjoined, and place the hands of n receiver.-At Rosan the wife and eight children of Re Ilsley, were drowned, by the breakit way of R culvert, which swept off b ouse.-R. B. Hackney, who w ummarily ejected from his post as doo eeper of the House, has demanded, nr acceeded in obtaining, an investigatio -Helene Louise. wife of the late Dul Orleans, son of the exiled Louis Ph died recently in London. Her liu

5. June 18, 1858 The Daily Exchange Baltimore, MD
Article from The Daily Exchange, June 18, 1858

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The temporary injunction granted a few days since against the Woodbury Bank, of Connecticut, has been made perpetual, and a Receiver appointed to administer its effects.

6. June 24, 1858 Litchfield Enquirer Litchfield, CT
Article from Litchfield Enquirer, June 24, 1858

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WOODBURY BANK, Notice. HON. JOEL HINMAY, a Judge of the Su THE preme Court of Eriors, of the State of Connectieut, has limited and appointed six months from and after the 1st day of July, A. D. 1858 for the creditors of the Woodbury Bank, to present their respective claims to the undersigned, who have been appointed, by said Judge, Receivers of the effects and property of said Bauk. Dated the 18th day of Jnne, A. D. 1858. ReGEORGE C. WOODRUFF of Litchfield, Conn., ceivers. Lawis JUDD of Woodbury, Conn., 9tJan1°

7. July 10, 1858 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, July 10, 1858

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SALES BY AUCTION. 95 40 20 Ocean Bank 3,000 Watertown City 6s 60 .101 5 Bank of Commerce 1,000 Clev. & Toledo 100 10 Park Bank 20 Broadway Fire Ins. Co.129 1033 20 Merc'e Marine Ins. Co. 79 25 Phenix Bank 61 134 113 La Crosse & Mii. RR so Manhattan Bank FRIDAY, July 9-P. M. There was & fair degree of activity at the Stock Board today, and the upward movement continued. There appeared to be rather more disposition to act with vigor on the part of some prominent bulle, and the shorts continue to be free buyere. We presume the aggregate of short contracts in the street uncovered is smaller than for many weeks. Many of the bears have got around on the other tack. The movement appears to be almost entirely confined to the street. We can hear of but few orders from the public 4 to buy. The feature of the day was the advance of P cent in Michigan Central consequent upon the favor. able construction put upon the report, an abstract of which was given in THE TRIBUNE this morning. The results, as shown by that report, are much more favorable than has been anticipated, and at the close 59 was bid, against 55 yeaterday. New-York Central W88 in demand at buoyant prices, and Erie was also firmer, 18 being bid for 1,000 shares. The meetings between these roads have as yet resulted in nothing. Reading W88 steady. For the Western shares there was 8 fair demand at advancing ratee. In Bond transactions the movement was rather active, without important charge. La Crosse Land Grants were active, the sales reaching $83,000, and fel off to 33. The free sales recently of these bonde, we have reason to believe, have been from a lot of $200,000 belonging to & railroad iron house. At the Second Board, the main features of the market were the same as in the morning. The tendency of prices was upward, with considerable disposition to buy. After the Second Board the highest prices touched were not sustained, but the market closed with & fair degree of firmness. The latest prices were, Erie, 171@18; Central 83 @ 84; Reading, 461@463; Rock Island, @751; Hudson River, 27@271; Michigan Central, 59; Toledo, 311 @341; Galena, 871@873; Southern, 221@221; Mis'souri 6e, 843@843; Mulwaukee and Mississippi, 20a 201. In Exchange there has been but little done, but the market is firm at 9@9 for leading commercial and bankers' Sterling; France are 5.15@5.111. Freights are unchanged. To Liverpool the engagements are 2,000 bble. Flour at 1s. 41d. @1s. 6d. 37,000 bush. Grain at 4d, in bulk, and 5d. in bags; 2,600 bales Cotton at d.@3-16d.; 50 hhds. Tobacco at t2e. 6d. To London: 50 hf. hhds. Tobacco at 5s. To Bremen: 100 bble. Lard at 20s. A brig from St. Mary's to Curacoa with Lumber at $10, and back with Salt at 10c. ₽ bush. The business of the Sub-Treasury was: Receipts, $382,433 41-$156.000 from Customs; Payments, $497,698 28; Balance, 5,324,008 54. There isan improved demand for Treasury Notes, and further sales of $100,000 41 ₽ cents have been made at 20 @30c. prem. Adrian H. Muller will hold his regular auction sale of stocks to-morrow, at 12 o'clock, at the Merchants' Exchange. S. Draper's next auction sale of bonds and stocks will take place on Monday, the 12th inst., at 121 o'clock, at the Merchante' Exchange. The Etna Fire Insurance Co. of this city has declared asemi-annal dividend, payable on the 15th inst; the Greenwich Savings Bank has declared its usual semi-annual dividend at the rate of 5 ₽ cent ₽ annum or sums of $500 and under, and at the rate of P cent on larger sume; the Mercantile Bank, a semi-annual dividend of 5 ₽ cent, payable on the 15th inst. the Cayugaand Susquehanna Railroad Company,adividend of 41 P cent, payable on demand. The following items are from Thompson's Bank Note Reporter: " The rotes of the Bank of South County and Hop. kinton Bank of Rhode Island will eventually be redeemed at par. "The affairs of the Woodbury Bank, Conn, are progressing slowly in the hands of the receiver. It will probably be eix months before anything definite can be known as to the value of the notes. The Litchfield Bark, Coor., shows symptoms of resuscitation again. We understand it has, from time to time, redeemed email amounts presented at its counter since its collapse, in New-York. All the late broken New-York State secured banks have been would up, and the bill-holders paid in full by Gen. Cook, our prompt and energetic Bank Superintendent. The broken New-Jersey banks of course remain in statu quo, as usual in that State. There are again signs of resuscitation among some of the new Pennsylvania banks that recently flattened out. During the somersets some of these banks have been turning, re much doubt if the officers know who their stockholders are. The backs of North Carolina, with the exception of the State Bank, appear perfectly indifferent to public opinion, and will not resume specie payment. The Provincial Back of Cacada is objected to by

8. October 29, 1858 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, October 29, 1858

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Stocks Also, Hamilton County (Cincinnati), Ohio, 8 P cent Bonds, is-ned for county purposes. The annual statement of the 600 Materi Insurance Company says that the net earned premium of the year ending 4th just. were $928,866 85 from which deduct $524,560 47 losses, and $93, 185 expenses and reinsurances, and a net profit is shown of $293,121 12, as a result of the business of the year. The assets of the Company now amount to $1,761,850 35. The Board of Trustees have declared a dividend of interest on the outstanding scrip of 6 p cent, payable on the 1st of November, and a scrip dividend of 12 2 ₽ cent, for which certificates will be issued on the 31st of De. cember, on which day also 40 ₽ cent of the scrip of 1832 will be redee med in cash. Albert H. Nicolay's regular daily anction sale of Stocks and Bonds will take place to-morrow (Friday), at 121 o'clock, at the Merchante' Exchange. 8. Draper's next regular auction sale of Bonds and Stocks will take place to-morrow (Friday), at 121 o'clock, at the Merchants' Exchange. A general meeting of the stockholders of the Allentown Railroad will be held on the 24 proximo, at the office of the Company in this city. The Mechanies' Bank of Williamsburgh, under authority of chapter 222, Laws of 1858, has had its name altered to "Manufacturers' Bank," Brooklyn. The Powell Bank, Newburgh, is winding up. The Cox property, OD the correr of Broadway and Leonard street, 29.7 by 153 deep, sold at $160,000, after brisk competition. By private contract Mr. E. H. Ladlow sold the front on Fifth avenue, between Eighty-eighth and Eighty. nixth streets, for $35,000, equal to $4,375 per lot. Holders of the circulating notes of the Woodbury Bank of Connectient are reminded that they must be returned to the Receivers (Geo. C. Woodruff of Litchfield, or Lewis Jadd of Woodbury) before the 1st of January, or else be debarred from participating in the division of the effects of the bank. The receipts of the Toledo, Wabash and Western Railroad for the third week in Oct. were as follows: $6,063 73 Passengers 16,969 06 Freight 300 00 Malle and Express $23,832 79 Total The semi-annual statement of the business of the Central Railread Company gives the fol-

9. November 5, 1858 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, November 5, 1858

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Do. exclusive of specie 66,970,968 61,975,266 51,400,462 Thompson's Bank-Note Reporter gives the annexed bank items: Branches of the State Bank of Iowa have been organized in the following localities: Muscatine, Dubuque, Keokuk, Oskaloosa, Mount Pleasant, Davenport, Iowa City and Des Moines. "The Essex County Bank, Newark, N. J., has been fully organized, with Joseph Ward, President, and Chas. S. Grabam, Cashier, and commences business on the 1st of January. The Tioga County Bank has at last fallen into the hands of responsible and prudent parties, and we give it the usual quotation for Western Pennsylvania money. The time for presenting the notes of the Hatters' Bank, Connecticut, to the Receivers, expires on the 20th inst. 'The time for presenting the notes of the Woodbury bank expires on the 1st Janaary. Thompson & Brother are paying 75 cents on the dollar. It has been the practice in Connecticut to shut out all notes not presented in time." The war with England and France" dispatch to one of the morning papers which was used 8 few days since to depress the Stock market is thus disposed of by The Washington Star: The story of the joint notification of France and England to this Government is made of whole cloth. On the contrary, we have every reason to feel assured that Count Walewski has formally assured Mr. Mason, in Paris, that he had refused to see Belly upon the subject of his alleged scheme and grant from Nicaragua; and that the French Minister of State, under whose supervision the affair would come were the Government of Napoleon III. to entertain B.'s proposition, also declined peremptorily to consider the subject." Judge Park has made his decision in relation to the Merchants' Exchange Bank of Bridgeport, Ct. The notes of the bank in the receiver's hands (some $13,000) are to be paid in full. About $7,000 in these bills is still outstanding; 66 P cent will be paid on other claims. In the United States Circuit Court at Cincinnati on Monday, Mr. Kilbreath, appointed receiver in the case of Bell & Grant VS. the Ohio Life and Trust Company, submitted his report to the Court, and, through Mr. N. C. McLean, moved that a rule issue against Richard Mathers, Sheriff of Hamilton County; Samuel J. Broadwell, Samuel Fosdick, John C. Wright, George Crawford, Clement Dietuch, Charles Stetson and Abram M. Taylor, assignees of the Company, and E. G. Burkam, John H. Groesbeck and W. G. W. Gano, bankers, to show cause why they should not be attached for contempt. The New-Orleans Picayune of the 24th says: The market, both for foreign and domestic Exchange, has exhibited a declining tendency this week. Clear Sterling has dropped to 107f@108t, the latter being now considered an outside figure. Bill-of-lading drafts have been negotiated at 107@1071. Francs have given way, and may now be quoted at 5f. 284@ 5f. 25; considerable sales of good names at the extreme figure. Sixty-day bills on New-York have been in better request than any other description of Exchange, at a rate of 1f@2f P cent discount. Sight was dealt in to some extent yesterday at 11 v cent discount, but the market, if anything, is a little firmer to-day-say 1@lf. Short sight, 14@1f. The Banks have checked at lat" HOOSAC TUNNEL.-We learn from The North Adams Transcript, that the Troy and Greenfield Railroad between North Adams and Troy is entirely finished with the exception of one mile of the road just this side of Eagle bridge which forms the junction at the NewYork State line.

10. January 27, 1859 Litchfield Enquirer Litchfield, CT
Article from Litchfield Enquirer, January 27, 1859

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WOODBURY BANK. Y virtue of an order of the Superior Court, B the Receivers will pay EIGHTY per cent. of the Bills of said Bank, on presentment, by the payees, of the Certificates issued by the Receivers for such Bills. Litchfield, Jan. 26, 1859. GEO. C. WOODRUFF, Receivers. 40.3w° LEWIS JUDD, }

11. February 1, 1859 Worcester Daily Spy Worcester, MA
Article from Worcester Daily Spy, February 1, 1859

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CONNECTICUT.-The Baptist Church at Willimantic have unanimously invited Rev. Mr. Darian, of Providence, to be their pastor. The house of Chester Allen, in Ellington, was entered by burglars, a few nights since, and robbed of four hundred dollars. Judge Birge's dwelling, in Hartford, was fired by an incendiary, on Saturday morning, and damaged to the extent of $2,000. A perfect nest of "varmints" was discovered by Elnathan Rice, while digging a grave in Willington, last week. A family of black snakes and adders were found three feet below the surface. Mr. Rice killed fourteen, the largest being six feet long. and as many more escaped. The receivers of the Woodbury Bank advertise that they will pay 80 per cent. on its bills.