8196. Pawtucket Bank (Pawtucket, MA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
October 15, 1850
Location
Pawtucket, Massachusetts (41.925, -71.379)

Metadata

Model
gpt-5-mini
Short Digest
e93bd7e9

Response Measures

None

Description

Articles from Oct 1850 report the Pawtucket Bank suspended payments and receivers (William Dehon and Henry P. Knight) were appointed because the cashier made illegal loans. A later (1851) notice from receivers offers to pay proved claims, indicating the bank remained in receivership/closed rather than resuming normal independent operations.

Events (3)
1. October 15, 1850 Receivership
Newspaper Excerpt
William Dehon of Boston, and Henry P. Knight of Providence, have been appointed Receivers of the Pawtucket, Mass. Bank, upon whose further operations an injunction was put lately on account of the illegal proceedings of the Cashier in loaning money.
Source
newspapers
2. October 23, 1850 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended after illegal proceedings by the cashier in loaning money; credit extended fraudulently for an individual led to injunction and suspension.
Newspaper Excerpt
The Pawtucket bank, of Pawtucket Mass., lied suspended payment.
Source
newspapers
3. August 18, 1851 Other
Newspaper Excerpt
The receivers of the Pawtucket Bank, Mass, (Messrs. H. P. Knight, and Wm. Dehon.) give public notice that all claims proved against the Bank will be now paid, on demand, with interest. The circulation of the Bank is now only about $4,500, and will be received at the Suffolk Bank, Boston, and at the Merchants' Bank, Providence.
Source
newspapers

Newspaper Articles (3)
1. October 15, 1850 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, October 15, 1850

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Article Text

30, 1850, DATE been AS anneked Total Passengers. Freight $37,256.77 324 866 06 $12,890.71 July 1850 24 230 52 S124980 2980.63 August 59,211.86 22982.92 62194 September $150 732 15 $77,103.52 Total three mor the $78668.63 92,081.75 40.290.56 51.791 19 Same time 1840 26 8 2 96 Increase 53,630.40 21 887 44 The business of the Fall River Road presents a favorable apperation The receipts for the ten 169151 Months ending 84th Sept. were 141 832 Skille time 1849 $27 809 Increase 1850 The earnings for October and November, 1849, were $18,973.05, and $15,746.57, which added to the above, will make the gross earnings for the preseur financial year, ending December 1, 1850, over 8200,000, on a capital of $1,050,000. The on. tire balance of indebtedness of the Company, De. cember 1, 1849, WAS about $102,000, which the Di. rectors determined to liquidate, 3.4 far 98 possible, from the net earnings of the current year. The Directors of the Utica and Hornellsville Railroad have put that road under contract. A: Boston the Money market has been active.The demand WAR fairly met. In the street good paper was 7@9 P cent, and the rate on call was about the same. Railroad shares and bonds were in demand at better prices. The total value of exports from the port of Bal timore for the week ending 11th inst. were 8355, 117 98. The principal articles shipped were the great staples of Maryland-Breadstuffa and Tobac. co-6,193 bbls of Flour, connaiderable quantities o' Corn, Corn Meal, &c. and 2,400 hhds Tobacco being among the articles enumerated. Among the importa were two cargoes Peruvian Gaano, direct from the Chincha Islands, and three full cargoes Welsh Railroad Iron for the use of the Baltimore and Ohio R.R. The Money market remains quite easy, and money may be had to almost any extent at 6 per cent on good security. William Dehon of Boston, and Henry P. Knight of Providence, have been appointed Receivers of the Pawtucket, Mass. Bank, upon whose further operations aniojunction was put lately on account of the illegal proceedings of the Cashier in loaning money. It is now said that the individual for whose benefit the credit of the Bank has been NO fraudulently extended, will at once accure the Bank against loss. The Hampshire Manufacturers' Bank, Ware, has declared 8 six months dividend of 4 per cent. The Mechanica' Bank of Augusta, Ga. a dividend of 10 per cent, from the profits of the last aix months. This makes 20 per cent for the last year. The Bank of Brunswick, Ga, at dividend of 5 per cent for the six months. The amount of stock transferred to foreign ao. coult at Washington last week was $67,200. A new Bank, the "John Hancock Bank," (Phoe* bus what a name) is to go into operation at Spring field, Mass, about the 1st of November. At Philadelphia the market was freely supplied with money at 5@71 per cent. on first class paper, and 8@10 on second class. We learn from the Norfolk Beacon that the par. ties who are to rebuild the Seaboard and Roanoke Railroad have concluded their arrangements satls. factorily and finally, and will commence their work in a very short time. CAREFULLY REPORTED FOR THE TRIBUNE. Markets MONDAY, October 14. ABHES-Are quiet, and without change for Pote Pearls are 12 c lower. Sales 75 bbla at 5 75 for Pearls and 6 121

2. October 23, 1850 The Cadiz Sentinel Cadiz, OH
Article from The Cadiz Sentinel, October 23, 1850

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Article Text

New adidas as Sixcy thousand bushels of Pittsburgh e al reached Louisville on Tuesday. at Gen CASS livers an address at the Kalamaz+ o Fair, day AT Father Mathew was born Oct. 10, 1790-making him sixty years of age.s at Ice formed to the thickness of an eighth of an inch at Corydon, Ind., on Saturday night. or The Pawrucket bank, of Pawtucket Massi, lide suspended payment. w OF The salary of The Attorney General has been increased to $6,000 per annum, or During the month of September 23,881 emigrants arrived at New York. OJ-Jenny Lind was thirty years of age en the 6th of October She was born in 1820. Ky Rev. Mr. Marshall, of Grand Gulf, whs robbed of a watcu, gold pencil, and eighty dollars, ou the mail boat it: Louisville, on l'uesday. O-Steam machinery has been introduced in the Mariposa mines in California to crush the quariz. O - The Madison merchants have unon' imously agreed to sustain the Kanawha'salt association. or By the fall of Barhamstead bridge, over Farmingten river in Connecticut, twen y-five fat catile were tumbled upon the rocks-four were killed, aud ten were so badly hurt that it was necessary to make them into beef. or Dover, Kv. contains a population of 460, of which 230 are males and 230 females. They are equally divided. or The large dry goods firm which failed at Boston on Friday, was that of Gannett, Batch & Co., Milk street. Liabilities about four hundred thousand dollars. at The jewelry store of Win. Dusuzcan in San Francisco, was entered on the 38th ult., and robbed of $20,500 worth of joweiry and precious stones. OT Williams county, Ohio, contains a population of 8,000, and the Sher If reports the juil as having been without a tenant for eighteen months-past. as Oa last Sunday morning, at an early hour, the store of Peter Haldeman, in Co lumbia, Pa., was set on fire, and goods to the amount of about $5000 destroyed. The loss was fuily covered by insurance. as Du ing the week ending on the 24th of August, there were twelve deaths in Sacramento City--seven of which were of diarthor and dysentery. We do not find the names of any Ohioms among the list of in terments. it If man could have half his wishes, he would double his troubles. or The fair cf the Kentncky Agricultural and Mechanical Association, at Lexing ton, which took place a few days since, is described a one of the most splendid exb bi lions of Kentucky arts and industry ever seen in the State. An English steamer is soon to be placed on the route between New York and St Thomas connecting with the West India and Centr American lines Wm. M Byrd, Esq., of Morengo, Ala one of the del gates to the Nashville Convention, has resigned, determining 10 have nothing more to do with the concern Thoms W. Dorr, the revolutionist "Governor" of R mide Island, is now in very ill health at his father's residence, and it IS doub fiwh then he will long survive. The National Intelligencer stales that the President of the United States-has appointed Samuel D King. E=q. of Washington, well known for his former long connection with the General Land Office, 10 be Surveyor General of California. The Biltimore Water Works are being ex tended and improved so that the supply of water in quantity and quality will be increased and improved. Tobacco, Coffee and Sugar are all on the rise, as we learn by reference to Baring & Co '4 London circular and to continental mar kets. The British wheat crop is decidedly short of an averge, according to the London Mercantile Gazette Col. McLellan, it is stated, has been recall ed from the Boundary Commiss on. owing to h's ontinued indisposition, and Col. Graham. of the same coips, has been appointed his steal. Erasius Shepard, Esq., form riv a proprietor of the Rochester Democra', died in that city on Saturday, in the 5 11h year of histage. His decease WAS congestion of the lungs. The Senior Class of Dartinouth College has recently been diminislied by the dismissal of twenty-one of its members for disorderly conduct. Mike Walsh, through the columns of the N.Y. Glube, declines being a candidate for Congress in the 5th Congressional district and earnestly recommends to his friends to support Herry Arcularius, whom he will per sonalty most cordially sustain by every bon, orable means. The Tribrine announces the publication of new work on Austria. The author is the Hon. Win. II Stiles, late American Charge to the Court of Vienna. Punch, with reference to Hayman's wo. men flagging. asks,- Why did Napoleon thrash the Austrian Generals when he said so many of them were old woman?" Eathmsiastic Union meetings have been held in Monroe and Troupe counties, Georgia. The resolutions declare that so long as the north fulful the stipulations of the compromise bills, the south will abide by them. The great annivent case in Sullivan has been decided in favor of the plaintiff, a daughter of the late Com. Ridgeley, who inherited the lands from her mother, who was a Livingston. They are twenty four newspapers pullished in the English language on the shores

3. August 18, 1851 New-York Daily Tribune New York, NY
Article from New-York Daily Tribune, August 18, 1851

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Article Text

The receivers of the Pawtucket Bank, Mass, (Messrs. H. P. Knight, and Wm. Dehon.) give public notice that all claims proved against the Bank will be now paid, on demand, with interest. The circulation of the Bank is now only about $4,500. and will be received at the Suffolk Bank, Boston, and at the Merchants' Bank, Providence. At Philadelphia, The Ledger says: "We hear of no change in the money market. The out. door rates of best paper is 12@15 ₽ cent., and some