8184. Newburyport Bank (Newburyport, MA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 11, 1844
Location
Newburyport, Massachusetts (42.813, -70.877)

Metadata

Model
gpt-5-mini
Short Digest
8831c03c

Response Measures

None

Description

Articles from April–August 1844 report that receivers have been appointed for the Newburyport Bank and that creditors must present claims for allowance to participate in a final dividend. No run or depositor agitation is described. This indicates suspension and winding up under receivership (permanent closure).

Events (3)

1. April 11, 1844 Receivership
Newspaper Excerpt
The receivers of the Newburyport (Mass) Bank have obtained an order from the Supreme Court which will enable them to close up the affairs of that institution, and make a dividend among the creditors next fall.
Source
newspapers
2. April 11, 1844 Suspension
Cause
Government Action
Cause Details
Receivers appointed and court order obtained to close up the affairs and make final dividend to creditors; bank in receivership and being wound up.
Newspaper Excerpt
The receivers of the Newburyport (Mass) Bank have obtained an order from the Supreme Court which will enable them to close up the affairs of that institution, and make a dividend among the creditors next fall.
Source
newspapers
3. August 17, 1844 Other
Newspaper Excerpt
The receivers of the Newburyport Bank, Mass. have given notice that all persons holding bills or having claims against the Bank must present the same for allowance before the 5th September next, ... preparatory to the making of a final dividend of the assets of said Bank. (notice repeated in August).
Source
newspapers

Newspaper Articles (3)

Article from The New York Herald, April 12, 1844

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Article Text

PURNESE From 21 Courtlandt treet, warranted to remove the hair from the face, neck or arms, and will not injure the skin. MONEY MARKET. Thursday, April 11-6 P. M. The stock market is generally improving Prices are advancing, and the sales indicate the existence of a better feeling among operators. Norwich and Worcester ad vanced 21 per cent. Canton 11 Ohio 6's, 1 ; Vicksburg ; Mohawk : : Farmers' Trust 1; Pennsylvania 5's fell off 16 per cent. Long Island 2 do; Harlem and Illinois closed very firm at yesterday's quotations. The money market isj sensibly tightening The Banks are calling in their stock loans for two reasons. The first and most important at this moment is, to enable them to make as favorable reports as possible, and the second, is to raise the prices for money among the brokers. When stocks are advancing, an operator will sub mit to the payment of one or two per cent more for a loan, rather than have it called in, and be compelled to sell his stock at the market price. The banks take every opportunity to do this they can invent; and the brokers, in many cases, submit to the best terms dictated. There is, however, a greater demand for money for classes that have heretofore made few applications for loans. The commercial classes are seeking discounts from the banks to quite an extent. Short paper is readily taken at of a G per cent at most of the banks. The New England Worsted Manufacturing Company of Framingham has declared a semi-annual dividend of ten per cent. The Neptune Insurance Company of Boston has declared a dividend of twelve per cent for the past six months. The stockholders of the Washington Bank, Boston, have concluded to continue the business of the institution, and not wind up its affairs and divide its capital, as contemplated. Bonds of the City of Hartford were sold in Boston yesterday, at auction, as follows :$25,000 City of Hartford stock, in bonds of $5000 each, payable 1853, interest 6 per cent., payable semi-annually, per ct. advance. $5000 City of Hartford 6 per cent. stock, payable May, 1850, interest semi-annually, 3 per ct. advance. $4000 City of Hartford stock, interest 6 per cent. payable annually in 1853, 23 per ct advance. $3000 City of Hartford 6 per cent bonds, of $1000 each, interest annually, payable 1845, 1 per ct. advance. The receipts of specie at New Orleans on the 2d inst* amounted to $164,800, of which $151,800 was from New York. The receivers of the Newburyport (Mass) Bank have obtained an order from the Supreme Court which will enable them to close up the affairs of that institution, and make a dividend among the creditors next fall. The receivers have given notice to all persons holding bills of said bank, or having other claims against said corporation to present the same for allowance on or before the 5th of September, to become entitled to a dividend of the assets of the bank. RECEIPTS OF THE WESTERN (Mass.) RAILROAD FOR THE WEEK ENDING APRIL 6. 1844. 1843 $4,371 Passengers $4,818 4,269 Freight, &c 4,310 Total $8,640 $9,128 RECEIPTS FOR THE FIRST THREE MONTHS, FOR THREND YEARS. 1842, $85,905 $82,319 1843, 1844, $109,560 The receipts of the Michigan Central Railroad this year' compared with last, show an enormous rease. $4.027 Total receipts for March, 1843 1844 9,398 Increase this year $5,371 The total receipts for three months, ending the 1st inst of each year were as follows 1843, $11,061. 1844, $31,58P, Gain. $20,525 showing an increase of nearly two hundred per cent. Receipts of the Southern (Vichigan) Railroad for March 1843, $1,680. 1844, $2,512. Gain, $2,495 The rapid improvement in the receipts of the Railroad crossing the peninsula. connecting the waters of Lake Huron with those of Michigan, is an evidence of the importance of the works. The communication with the extreme we t by water, is obstructed long after the Lakes become navigable, by the quantity of ioe that collects at the straits of Michilimackinac. This obstruction will be rendered junimportant by the completion of the railroads through Michigan. All the works of internal improvement at the west, for the transportation of produce, must increase in value with the growth of the country. The immense imp rove ment, shown in the above returns, is but a commence ment of what it must ultimately be. The amount of merchandiseg ing west, and the amount of produce coming east, from the section of country bordering on these improvements, is yearly increasing; and to what extent it will reach is beyond all calculation. During the session of the Michigan Legislature, bills Were introduced, pro: posing the sale of their rail roads. They were defeated. Their possession will, eventually, prove a source of great revenue. The receipts will, in a few years, more than f pay the interest on the public debt of the State. ) The Secretary of the Treasury has transmitted to the / Senate the annual statement of the commerce and navigas tion of the United States. The report is made up to June ) 30, 1843. EXPORTS FROM THE UNITED STATES. FOR NINE MONTHS, ENDING JUNE 30. 1813


Article from New-York Daily Tribune, April 12, 1844

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Article Text

Commercial and Money Matters. M3 For Sales at the Stock Exchange, and Commercial Statistics, see Last Page. THURSDAY P. M. The Stock market was very buoyant to-day, and most descriptions went up materially. Exchanges have an improving tendency. We quote Sterling firm at 8% a 81: Franes 5 28% a 5 273/2. Money is in good demand, and the Banks get 5 a 6 per cent. on good paper. There is, however, no scarcity. but the amount of Money required by the regular wants of the business community is larger than for some time past. The Receivers of the Newburyport Bank have given notice to all persons holding claims against said corporation to present the same for allowance, on or before the 5th day of September next. preparatory to the making of a final dividend of the assets of said Bank. The following were the receipts over the Western Railroad for the week ending April 6: 1843. 1844. $4,371 $4,818 Passengers 4,269 4,310 Freight, &c $8,640 $9,128 Total The receipts on the Central Railroad in Michigan for the month of March are as follows: $9,398 Receipts for March 1844 4,027 02 Receipts for March 1843 $5,371 30 Increase this year The Southern road, terminating at Monroe, and which was completed last year to Hillsdale, 8. distance of GS miles. gives the annexed receipts for March, 1844: $2,512. Last year the earnings for the month were only $1,680. The receipts of Specie at New-Orleans continue to be large. On the 2d and 3d $384,000 were received, of which $331,000 were from New-York. The amount from 1st Sept. up to 3d inst. was $6,330,918. The stockholders of the Washington Bank, of Boston have resolved to move to State-street and continue business. The following Boston offices have made dividends: the Neptune 12 per cent.: the Suffolk 5: and the Washington 6 per cent.-all for the last six months. The New-England Worsted Company, at Framingham, has declared a dividend of 10 per cent. for six months. The public sales of the Real Estate property of the State Branch Bank of Mobile, amounted to $125.000. On the first day it was the general belief the property sold at very fair prices.


Article from New-York Daily Tribune, August 17, 1844

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Article Text

Commercial and Money Matters. For Commercial and Money Matters. see Last Page. FRIDAY P.M. At the Board this day Norwich and Worcester Railroad declined 3/4: Reading Railroad advanced Long Island y and Indiana Dollar Bonds 14. Harlem Railread declined 11/2. and Stonington Railroad. Cantan Co. and Farmers' Trust Co. Ohio 6s and Auburn and Rochester Railroad closed at yesterday's prices. EXCHANGES We quote Sterling as held at 1092 a 110. Francs 5 25 a 5 233 The rates for Silver. of which some shipments, principally of Mexican dollars. are going for. ward. are. Spanish dollars 104 a 105. Mexican 101 a 1014 and Carolus 106 a 1074 Patnot Doublcons $15.90 a 16, and Span. ih 816 25 a 16 40. Five frane pieces 941 A 945 ets. John Hand has been appointed Cashier of the Suffolk County Bank. The receivers of the Newburyport Bank, Mass. have given notice that all persons holding bills or having claims against the Bank must present the same for allowance before the 5th Septembernext, a all such bills and claims as are not presented by thatday will be outlawed. J. Thompson. 52 Wall street, will continue to buy the notes of this Bank until the 1st of September. He will also, we perceive, redeem the circulating notes of the Michigan Insurance Company at 2 per cent. di-count. Bank of St. Clair do do do ; Bank of River Raisin do do do: Wisconsin Marine and Fire Insurance Co. do do do. Sales of Stocks at Boston vesterday 22 shares Long island Railroad, 831/-25 do do do 3mb. 84 -100 do do do 2mb. 84-190 do do do. 84-50 do do do 831/25 do do do 831/2-25 do do do 831/2-25 do do do 833-25 do do do 2mb. 84-50 do do do do 84-50 do do do 2ms. 83-25 do do do do 83-25 do do do do 83-23 do od do do 83-5 do Worcester Railrand 117-3 do do do 117-10 do Boston and Provide ce Railroad 1061-25 no Reading Railroad 25-50 do do do 30dh. 251/-50 do do do 25-25 do do do 25-100 do do do Shib, 26-100 do'do do 30 ds.25% -25 do do de 20db,25%2-25 do do do 25-50 do do do 10ds. 251-10 do do do 2514-50 do do do 251/-10 do dodo 251/2-3 do Boston and Maine Railroad, (new stock) 1+ 5 do Granite Badk 9th--35 East Boston Co. 10% do Merrimack Manufacturing Co. 13914 10 bales new Cotton were received in Chaleston 12th inst. from Col. Singleton's plantation, True Blue, consigned to Martin, Start & Walter. The business of the Philadelphia and Reading Railroad during the week preceeding the 10th inst. was: $16,343.43 Travel. freight. & 11.835,04 tons, Coal transported during the week 208.391.01 toes, Previously transported this year 220.226.02 tons. Amount of Coal transported in 1843 to August 97.996 15 tons. 12th. inclusive 122.224 07 tons. Increase this year Statement of Cotton, from New-Orleans Bulletin 7th inst. 4.984 1843. Sept. 1. stock on hand 318 Received last three days 905.845 previously 906.163 911.147 318 Exported last three days 868.758 previously $83.071 28.076 7.813 Deduct this amount burnt at the Orleans Press 20,263 Stock this evening, August 6 Business in every department continues very dull at New-Orlens. The weather is intensely hot. The river has commenced falling. and is now nine inches below high water mark. The city remains quite healthy. The number of emigrants arriving at Quebec to August as compared with last season. was, 1843, 16,738 this