Mercantile Bank (Hartford, CT)

Episode Information

Episode UID
7031939190694
Episode Type
Suspension โ†’ Reopening
Bank Type
state
Bank ID
703193919 hash
Start Date
October 6, 1857
Location
Hartford, Connecticut (41.764, -72.685)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
6ff7da8977ba61a7

Response Measures

None

Description

Injunction against the bank was removed by Dec. 4, 1857 indicating resumption.

Events (2)
1. October 6, 1857 Suspension
Cause
Macro News
Cause Details
Suspended specie payments amid the widespread 1857 financial panic and regional banking crisis; bills were being thrown out and notes not received at clearing banks.
Newspaper Excerpt
The Charter Oak, Mercantile, and Exchange Banks have suspended specie payments.
Source
newspapers
2. December 4, 1857 Reopening
Newspaper Excerpt
The injunction against the Mercantile, Charter Oak and Exchange Banks of Hartford was this morning removed, and they are now prepared to do business as formerly. All of these banks are in a first rate condition.
Source
newspapers

Newspaper Articles (12)
1. October 1, 1857 Quasqueton Guardian Quasqueton, IA
Article from Quasqueton Guardian, October 1, 1857

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Broken and Suspended Banks. A friend sends us the following complete and reliable list of Bank suspensions and failures of recent date, which will undoubtedly be of service to many of our readers: Hancock Bank, Maine. Bank of Hallowell, Maine. Exchange Bank, Maine. Exeter Bank, N. H. South Royalton Bank, Vermont. Danby Bank, Vermont. Wooster Bank, Connecticut. Merchants Exchange Bank, Bridgeport, Ct. Mercantile Bank, Hartford, Conn. Bank of North America, Seymour, Ct. Colchester Bank, Conn. Farmers' Bank, Wickford, R. I. Tiverton Bank, R. I. Arcade Bank, Providence, R. I. Warwick Bank, Warwick, R. I. Mt. Vernon Bank, Providence, R. I. Rhode Island Central Bank, R. I. " Bank of the South County, " Bank of Kent, Farmers' Bank of Saratoga, N. Y. " Ontario Bank, Utiea, " Fort Plain Bank, Ft. Plain, " Hollister Bank, Buffalo, " Reciprocity Bank, Buffalo, " Sacketts Harbor Bank, " Oliver Lee & Co's Bank, " Chemung County Bank, " Niagara River Bank, " Ontario County Bank, " Chemung Canal Bank, " Buffalo Bank, " Tonawanda Bank, " Phelps' Bank, " New Palt Bank, " Western Bank, Lockport, " Yates County Bank, .. Niagara County Bank, " International Bank, Buffalo, " New York Security Bank, " Unadilla Bank, " State Bank, Sacketts Harbor, " Huguenot Bank, " Bank of Albion, " " Corning, " " Lima, " " Orleans, Albion, Island City Bank, New York city. Mechanics' Banking Association, New York city. American Bank, Trenton, New Jersey. " Bergen County Bank, " Cataract City Bank, Paterson, " Iron Bank, Rockaway, " Haversack Bank, " Commercial Bank, " Bank of New Jersey, Trenton, " " " New Brunswick, Warren County Bank, Pennsylvania. " Farmers' and Drovers' Bank " Honesdale Bank, " Erie City Bank, Erie, " Bank of Middletown, Seneca County Bank, Tiffin, Ohio. " Sandusky City Bank, " Miami Valley Bank, " City Bank of Cincinnati, Bank of Kanawha, Virginia. Trans-Alleghany Bank, " Zimmerman Bank, Canada. Agricultural Bank, Tennessee. " Ocoe Bank, " Shelbyville Bank, Bank of West Tennessee, " " Bank of America, " Bank of East Tennessee, Peninsular Bank, Detroit, Mich. " Bank of Tecumseh, Rock River Bank, Wis. Farmers' Bank of Hudson, Wis. Bank of Elgin, Illinois. Bank of Naperville, Ill. Cumberland Savings Bank, Maryland. " Cecil Bank, " Hagerstown Bank, Farmers and Mechanics, Kent co, Md. Farmers and Marchants Greenshe

2. October 6, 1857 The Washington Union Washington, DC
Article from The Washington Union, October 6, 1857

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BY TELEGRAPH. Arrival of the City of Washington, NEW YORK, Oct. 6.-The City of Washington," from Liverpool on the 23d, arrived here about 9 o clock this morning. The important news by this steamer was anticipated by the Anglo-Saxon at Quebec yesterday, but her advices add some interesting details from India. The East India Company had declined the proffer of the European and American Steamship Company to transport troops overland to India. Lord Elgin brought to Calcutta 1,700 troops from China, who were to proceed up the Ganges forthwith. He proposes to take to China some of the native Indian regiments, as they would be more faithful than in India. Gen. Neill, at Cawnpore, was compelling the highcaste Brahmins to wash the blood from the floors of the European soldiers, accelerating their movements by the use of the eat, and then hanging them. A letter to the Paris Patrie says that Nena Sahib was marching upon Lucknow with 15,000 men, and was four days ahead of Gen. Havelock. The fort at Lucknow was deemed impregnable. A fight had taken place between Canut and Laugham for the championship of England; but, after an engagement of forty minutes, darkness came on, and the fight was withdrawn. The Financial Crisis. NEW YORK, Oct. 6.-Willetts & Co., hardware dealers, have suspended. PHILADELPHIA, Oct. There was much excitement here last evening among the holders of the Reading Railroad stock, in consequence of the discovery that an act of the legislature of 1850, extending the bonds, makes the stockholders, individually, liable for all the debts of the company thereafter contracted, with a proviso not to include the bonds which may be issued in place of bonds already existing. NEW ORLEANS, Oct. 5. - Voorhees, Griggs, & Co. have suspended, but it is believed the suspension is only temporary. The markets are checked by the difficulty in getting cash for exchanges. Exchange on New York, 1 a 11 discount. Sales of sterling exchange are very small. CUMBERLAND, (Md.,) Oct. 5. Considerable excitement was created here this morning by the announcement that the Mineral Bank had assigned and closed its doors. This institution suspended specie payment some days ago, and had in circulation quite a large amount of paper in western Maryland, parts of Virginia and Ohio, and other points West. It sustained a good reputation heretofore. The impression prevails that it has become involved with the coal companies. Pennsylvania Legislature. HARRISBURG, Oct. S.-The legislature met, and the governor's message states that suspension was an imperative necessity, and suggests a relief by removing the penalties, provided that a resumption be made as early as practicable. A joint resolution is being debated in the house requiring the banks to furnish information of their condition before legislation should be had. More Banks Suspended. NEW YORK, Oct. 6. -The bills of the Lee Bank, Massachusetts, Mercantile, Charter Oak, and Exchange banks, of Hartford, Connecticut, and the Bank of Watertown, New York, have been thrown out. HARTFORD, Oct. 6.-The Charter Oak, Mercantile, and Exchange banks have suspended specie payments. The other banks have resolved not to suspend.

3. October 7, 1857 Worcester Daily Spy Worcester, MA
Article from Worcester Daily Spy, October 7, 1857

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Financial Matters. We have to notice the suspension, in Boston, of Proc tor & Wood, wool and produce commission house, City wharf. We understand they lost very heavily in wool sales by the failure some weeks since of F. G. Swan, a large commission house in New York. The Boston Advertiser authoritatively contradicts the statement that Mr. John A. Lowell has suspended payment or made an assignment. The Charter Oak, Exchange, and Mercantile Banks of Hartford suspended payment on Tuesday. These bills are not received at the Suffolk. Judge Merrick Monday afternoon granted an injune tion against the Western Bank of Springfield, as asked by the Bank Commissioners. The ground of injunction is the utter insolvency of the bank. The Commercial Bank of Bath has not failed. The bank is perfectly sound. Its charter expired Oct. 1, and it has gone into liquidation on that account. The Lowell Courier states that the MiddlesexCompany have concluded to keep their works in operation for the present, and that they continue to employ their usual number of hands. The faiures announced in New York on Saturday even ing, were those of Gage, Dater, & Sloan, dry Goods job bers; L. Bauer & Co., hosiery dealers; and Livingston & Ballard. grocers. The suspension of the latter, it is said, will be only temporary. At Baltimore on Saturday, the money market was much excited. and more stringent. They discounted only to a limited extent. Good first class notes are quoted at 11 per cent a month; money on call 11 to 2 per cent. Exchange on the North command 8 to 10 per cent. premium, and gold sold at 7 to 10 per cent. premium. The Philadelphia Ledger says the opinion entertained by some that suspension would afford relief to the money market, and thus put a stop to further failuresi is fast dying out. Suspensions are of almost daily occurrance. and arelikely. to continue for some time yet.

4. October 7, 1857 Worcester Daily Spy Worcester, MA
Article from Worcester Daily Spy, October 7, 1857

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Monetary Affairs. NEW YORK, Oct. 6.-The day closed upon a very tight money market The difficulties of negotiating exchange have induced merchants to order grain sent forward, guranteeing expenses here. Sterling bills closed at 95 a 102, to cover actual transactions, some names selling little higher, but only in small sums. The receipts at the Sub Treasury were $228,868, and payments $1,288,137. balance $6,560,045. The receipts include $100,000 transferred from Boston, and the payments include $112,000 California debts, $200,000 in small pieces sent to the Mint, for which large gold will be returned tomorrow, and $600,000 to the Bleeker street Sav. ing Institution, for redeemed United States stock. The American Exchange Bank, after holding the drafts of Messrs. Lathe & Church up to the close of business, yesterday, refused to pay them this morning, and they were protested. NEW York, Oct. 6.-Bills of the Lee Bank, Mass., Mercantile, Charter Oak, and Exchange Banks, Hartford, Conn., and Bank of Watertown, N. Y., are thrown out today. Messrs. Yelverton & Walker suspended yesterday. PHILADELPHIA, Oct. 6- Much excitement was occasioned among the Reading stockholders last evening, by the discovery that the act of the Legislature of 1850, extending the bonds, makes the stockholders individually liable for all debts of the company thereafter contracted, with a provizion not to include bonds which may be issued in lieu of bonds already existing. ST. LOUIS, Oct. 6.-A meeting was held yesterday at the Merchants' Exchange, to consider the currency question. Mr. Henry, Bank Commissioner of Illinois, made a statement of the banks of that State, which was generally regarded as satisfactory. The committee appointed to report on the subject, convened in the afternoon, but adjourned without coming to a definate conclusion. The vote on receiving the currency at par stood at a tie. Previous to the adjournment a resolution was passed to petition the Legislature to issue no more bonds at present, and to create a sinking fund for the payment of the interest of those already issued. Another meeting was held at the Exchange today. The suspension of Lucas & Co. is announced. Their assets are known to be ten times greater than their liabilities. There was a run today npon the banks of Missouri, and Boatmen's and German Institution. There are no evidences of a suspension yet. The regular banks remain strong. DETROIT, Oct. 2.-The Farmers' & Mechanics' Bank of this city has been placed under injunction by the Attorney General. HARTFORD, Oct. 6.-The Charter Oak, Mercantile, and Exchange Banks suspended specie payments this morning, The officers of all the other banks met last night and resolved not to suspend.

5. October 7, 1857 The Day Book Norfolk, VA
Article from The Day Book, October 7, 1857

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Monetary Affairs. PHILADELPHIA, Oct. 6.-There was much excitement produced among the Reading stock holders last evening by the discovery that the act of the Legislature of 1850 extending the bonds makes the stockholders individually liable for all the debts of the company, thereafter, with a provision not to include the bonds which may be issued in lieu of bonds already existing. NEW ORLEANS, Oct. 6.-Messrs. Worbees, Griggs & Co., have suspended. It is supposed, however, to be only temporary. NEW YORK, Oct. 6.-The bills of the Lee Bank, of Massachusetts, the Mercantile, Charter Oak, and Exchange Banks of Hartford, Connecticut, and the Bank of Watertown, New York, were thrown out here this morning. HARTFORD, Oct. 6.-The Chester Bank, Mercantile and Exchange Banks have suspended specie payments. The other banks have resolved not to suspend.

6. October 7, 1857 Evening Star Washington, DC
Article from Evening Star, October 7, 1857

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The Financial Crisis, &c. NEW YORK, October 6 -The Evening Post regards the aspect of financial affairs as favorable, and the Commercial of this afternoon discovers no material change from resterday. The specie lost by the banks last week went to sustain other cities standing in more need of it than New York. The movement is regarded by cool-headed business men as exceedingly praiseworthy, though the croakers make use of the loss of specie for the renewal of the panic. Stocks were firmer after the adjournment of the second board. The payments at the sub-treasury to-day were over one million and a quarter of dollars, which is a very encouraging feature. The bills of the Lee Bank, of Massachusetts, the Mercantile, Charter Oak and Exchange Banks of Hartford, Conn., and the Banks of Watertown, New York, were thrown out here this morning PHILADELPHIA, Oct. 6.-There was much excitement produced among the Reading stockholders last evening by the discovery that the act of the Legislature of 1850 extending the bonds makes the stockholders individually liable for all the debts of the company thereafor, with a provision not to include the bonds which may be issued in lieu of bonds already existing. HARTFORD, Oct. 6 -The Charter Oak, Mercantile and Exchange Banks have suspended specie payment. The other banks have resolved not to suspend. NEW ORLEANS, October 4.-Messrs. Vorhees, Griggs & Co. have suspended. It is supposed, however, to be only temporary.

7. October 7, 1857 Wheeling Daily Intelligencer Wheeling, WV
Article from Wheeling Daily Intelligencer, October 7, 1857

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BANK EXCITEMENT. DRTHOIT, Oct. 6.-The Farmers & Mechanies' Bank of this city has been placed under injunetion by the Attorney General. ST. Louis, Oct. 6.-There is n run on the Bank of Missouri and Boatmans' and German Savings Institutions, no evidence of suspension yet el The regular Banks are strong. At a meeting at the Merchants Exchange yesterday to consider the currency question, Mr. Henry, Bank Commissioner from Illinois, made a statement of the condition of the Banks of that state, which was generally considered satisfactory. The committee appointed to report on the subject, convened this afternoon without coming to any definite. conclusions The vote on securing currency at par stood a tie. Previ ous to adjournment a re olution was passed to petition the Legislature to issue no more bonds at present and to create a sinking fund for the payment of interest on those already issued.-Another meeting will be held at the Exchange to-day. Suspended-Lucas & Co.; creating no excitement; assets ten times greater than their liabilties. BOSTON, Oct. 6.-At the instance of the Bank Commissioners a temporary injunction on the the Western Bank of Spri gfield, was issued. NEW YORK, Oct. 6.-The Mercantile Bank at Hartford, Conn., and the Bank of Watertown, New York, have been thrown out.

8. October 7, 1857 The New York Herald New York, NY
Article from The New York Herald, October 7, 1857

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any them alone. As a general thing they are dear at any price. The Assistant TA `esurer reports to day as follows:$228,868 57 Total receipts 1,288,137.65 4. payments " baian 6,560,045 74 The receipts to day incia de $100,000 for transfer drafts on Boston, and the payments include $112,000 on Callfornia drafts, and $200,000 sent to the United States Mins, Philadel bis. It will beseen tha the Treasury balance is reduced to nearly six and a half million of dollars, -n amount less than we have known for many mombs. We hope to see it loss than half that figure before the ist of January, 1868. Our advices from the East in regard to the banks of that section are not at all encouraging from Hartford we have accounts of the suspension of three banks-the Mx change, Charter Oak, and Mercantile. The New England banks are daily weakehed by the reiurn of their ciron lating notes. In this respect they differ very much from the banks of this State, or any other State where the pub. lic stock security exists The return of cireclating notes to the banks of New England weakens them by taking away gold or other assets, while in this state the returns of circulating notes rather strengthen the banks, for they take the notes to the Banking Su erinlendent, get State stocks to exchange, sell them ain premium, and are therefore in funds for future operations The circulation of the Eastern banks to coming in from the West in volumes, and as it is redeemed it leaves each bank * orse off than before This is likely to lead to trouble among these institutions, and perhaps ultimately to general suspension among the country banks, if no more. The whole of Rhode Island and e good many banks in Connecticut have already gone down The annered li.t contains the names of banks the bills of which are not received at the Suffelk Bank:MAINE - Exchange Bank Bangor; Hallowell Bank, Hallo well; Hancock Bank, Ellsworth; Ship Builders' Bank, Rockland; Maritime Bank, Bangor; Ellaworth Bank, Elle worth; Chine Bank, China; Central Bank, Haliowell; San ford Bank, Sanford MASSACHUSETTS --Cochituate Bank, Rosten : Groners' Bank, Borton; Manufaciarers' Bank, Georgetown; West ern Bank. Springfield NEW HAMPSHIBE-Exeter Bank, Exeter; Lancaster Bank, Lanesater. VERMONT -Stark Bank, Bennington; South Royalton Bank, South Royalton; Damby Bank Danby. CONPECVCUE-Estern Bank, West Killingly; Wooster Bank. Dembury; Woodbury Bank Woodoary; Hartford County Bank Hartford, Exchange Bank. Hartford; Mer centile Bank, Bartford; Charter Oak Bank, Hartford; Oolchester B.nk, Colobaster. RHODE ISLAND.-The bills of none of the banks are received The suspension of a very large fur dealer in Maiden lane was reported to day-reported to have a large surplus. The American Exchange Bank, after honoring the drafts of Messrs Sather and Church, of San Francisco, up to the close of b siness-yesterday, refused to pay them this morning, and they were protested. The suspension of Meesrs. Willetta & Co. is also announced this morning. Adrian H. Muller will hold his regular auction sales of stocks and bonds to morrow, at 12ยฝ o'clock, at the Merchants' Exchange Albert H. N.colay will hold a special sale of stocks and bonds to-morrow, (Wednesday) at 12 o'clock, at the Mer chants' Exchange. The notes of the Bank of Waterlown were discredited yesterday. Its agents at Albany speak confidently of the ability of the bank to continue its redemptions on and after to-morrow. The an. exed is a comparative statement of the exports (exclusive of specie) from New York to foreign ports, for the week and since Jan 1:1856. 1857 1855. 1,809.390 Tota' for the week. $1,367,470 1,721,980 54,015,245 57,692,368 Previously reported 45 834,246

9. October 7, 1857 The New York Herald New York, NY
Article from The New York Herald, October 7, 1857

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THE WESTERN BANK, SPRINGFIELD, MASS. BOSTON, Ost. 6, 1857 Judge Merrick, upon the motion of the Bank Commis sioners, has granted A temporary injunction on the West ern Bank of Springfield SUSPENSION OF THE BANKS OF HARTFORD. HARTFORD, Comn., Oct. 6, 1867. The Charter Oak Bank, the Mercantile Bank, and the Exchange Bank, suspended specie payment this morning The officers of all the other banks met last night and re solved not to suspend. THE FARMERS' AND MECHANICS' BANK AT DETROIT. DEPROIT, Oct 6, 1857. The Farmers' and Mechanion' Ba: k in this city has been placed under an injune lon by the Attorney General FAILURE IN GEORGETOWN. WASHINGTON, Oct 6, 1857. Messrs. F. & A H. Dodge, merchants and importers in Georgetown, are said to have made an assignment. Heretofore they were considered the heaviest business firm in the District of Columbia THE BANKS OF WILMINGTON. PETERSBURG, Oct. 6, 1857. The Petersburg Express says it is rumored here this evening that the banks of Wilmington and Cape Fear refueed to redeem their notes yesterday. The Commercial and Bank of the State redeemed everything All of them are said to be perfectly solvent. SUSPENSION IN NEW ORLEANS. New ORLEANS Ost 5, 1857. Messrs. Voorbies, Griggs & Co. have suspended, tempo. racily, it is supposed. LIABILITY OF READING RAILROAD STOCKHOLDERS. Philadelphia, Oct. 6, 1857. Much excitement was occasioned among the stockholders of the Reading Railroad last evening, by the discovery of an not of the Legislature of 1850 extending the bonds, which make stockholders individually liable for all the debts of the comp ny thereafter contracted, with a pro vision ' no: to include bonds which may be issued in Hou of bonds already existing." THE PHILADELPHIA STOCK BOARD. PHILADELPHIA, Oct 6, 1857. Stocks heavy. Pennsylvania State 5's, 19%; Reading Railroad, 13ยฝ; Morris Canal, 40; Long Island Railroad, 8; Pennsylvania Railroad, 37.

10. October 10, 1857 Weekly National Intelligencer Washington, DC
Article from Weekly National Intelligencer, October 10, 1857

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SUSPENDED BANKS EASTWARD. The New York Sun gives the following list of Banks located east of Maryland which have suspended specie payments : MAINE. Canton Bank, China. Monsum River Bank, Sanford. Exchange Bank, Bangor. Sanford Bank, Sanford. NEW HAMPSHIRE. Exeter Bank, Exeter. Weare Bank, Hamilton Falls. RHODE ISLAND. All suspended specie payments. MASSACHUSETTS. Bass River Bank. Western Bank, Springfield. Lee Bank, Lee. VERMONT. Danby Bank, Danby. South Royalton Bank, South Stark Bank, Bennington. Royalton. CONNECTICUT. Bridgeport City, Bank, Bridgeport. Thompson Bank. Bank of Hartford County. Windham County Bank. Bank, of North America, Seymour. Mercantile Bank, Hartford. Colchester Bank, Colchester. Exchange Bank, Hartford. Pawcatuck Bank. Charter Oak Bank, Hartford. NEW YORK. Agricultural Bank, Herkimer. Island City Bank, N. Y. city. Leonardsville Bank. Bank of Canandaigua. Bank of Central New York, Utica. Mechanics' Banking Association, Bank of Lima. New York city. Bank of Old Saratoga. Medina Bank. Bank of Orleans, Albion. Niagara River Bank, Tonawanda. Bank of Watertown. Oliver Lee's Bank, Buffalo. Chemung County Bank. Ontario County Bank, Phelps. Dairymen's Bank, Newport. Ontario Bank, Utica. Farmers' and Citizens' Bank, L.I. Oneida Central Bank, Rome. Farmers' Bank, Hudson. Powell Bank, Newburgh. Hamilton Exchange Bank. Reciprocity Bank, Buffalo. Hollister Bank, Buffalo. Sacketts' Harbor Bank, Buffalo. Hudson River Bank. Western Bank, Lockport. Huguenot Bank, New Paltz. Worthington Bank. Yates County Bank, Penn Yan. NEW JERSEY. America Bank, Trenton. Bank of N. J.; N. Brunswick. Bergen County Bank. Bordentown Banking Company. Burlington Bank. Burlington County Bank. Camden Bank, Camden. Cumberland Bank, Burlington. Farmers' and Mechanics' Bank, Gloucester Bank, Woodbury. Camden. Hunterdon County Bank. Mount Holly Bank. Phillipeburgh Bank. Princeton Bank, Princeton. Salem Banking Company, Salem. Union Bank of Frenchtown. PENNSYLVANIA.

11. October 31, 1857 Vermont Phล“nix Brattleboro, Bellows Falls, Ludlow, VT
Article from Vermont Phล“nix, 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.

12. December 4, 1857 The New York Herald New York, NY
Article from The New York Herald, December 4, 1857

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its operations, protect those with whom it in connected in the struggle, BO that they can exercise their full power and influence in allaying undue excitement, and relieve the pressure by preserving public credit. The Bank of England has a duty to perform during a financial revulsion which compels it to extend its resources and risk them where others would hesitate. The banks of this city can draw themselves within their stone walls and leave the community to take care of themselves as they best can. The Bank of England looks to the preservation of public confidence, by sustaining, if called upon, those houses which, in times of panie, attract the greatest attention. The Bank of England is now engaged in this important movement, and its judicious management may quiet the public mind, and bring about, at no distant day, a more healthy state of things in the financial world. Our banks have piled up in their vaults nearly twenty-five millions of bullion, reduced their discounts to less than ninety-five millions of dollars; and there they stand, perfectly regardless of any national or local interest, and disposed, doubtless, to wait patiently the recovery of confidence and business. The injunction against the Mercantile, Charter Oak and Exchange Banks of Hartford was this morning removed, and they are now prepared to do business as formerly. All of these banks are in a first rate condition. The quantity of flour, wheat, corn and barley left at tidewater during the fourth week in November, in the years 1856 and 1857, was as follows:-