8547. Havre De Grace Banking & Trust Company (Havre de Grace, MD)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
trust company
Start Date
August 27, 1850
Location
Havre de Grace, Maryland (39.549, -76.092)

Metadata

Model
gpt-5-mini
Short Digest
b5e47ef7

Response Measures

Full suspension

Other: Cashier and Maryland directors arrested; indictments for embezzlement; bank did not resume normal operations and was treated as failed.

Description

Newspaper accounts report heavy withdrawals and brokers demanding specie after packages of small notes were returned under Pennsylvania small-note law; the bank stopped payment on Aug 27–28, 1850 and never reopened. Subsequent reporting documents embezzlement by the cashier and indictments. Dates from contemporaneous reports and cashier testimony point to 1850-08-27 (or 1850-08-28); I use 1850-08-27 for the initial stoppage/run based on testimony that it stopped on the 27th.

Events (3)

1. August 27, 1850 Run
Cause
Bank Specific Adverse Info
Cause Details
Brokers presented a large package of small-denomination notes redeemed from Pennsylvania under the new small-note law; demand for specie revealed the bank's insolvency (later linked to cashier loans/embezzlement).
Measures
Officers at first announced intention to reopen with funds to redeem liabilities; later the bank remained closed and criminal investigations followed.
Newspaper Excerpt
Great excitement was occasioned ... by the announcement that the Havre de Grace Bank had failed ... a package of $6,000 had been received from Philadelphia by a broker ... who demanded his money in specie, when the bank was immediately closed
Source
newspapers
2. August 27, 1850 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Immediate suspension followed the specie demand on returned small notes and discovery of misuse of funds by the cashier; bank stopped payment and closed doors (cashier later arrested).
Newspaper Excerpt
The Havre de Grace bank ... has at last suspended payment. In fact, it has gone by the board.
Source
newspapers
3. November 28, 1850 Other
Newspaper Excerpt
The Harford County Grand Jury have been ... investigating the fraudulent failure of the Havre de Grace Bank, and have found true bills against the following gentlemen, for embezzling its funds - ... (indictments for embezzlement).
Source
newspapers

Newspaper Articles (11)

Article from The Republic, August 29, 1850

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M. F. MAURY, Lieutenant U.S. N. [CORRESPONDENCE OF THE REPUBLIC.] BALTIMORE, August 28-5 p. m. The Havre de Grace bank, a concern that has been in existence several years, has at last suspended payment. In fact, it has gone by the board. Although our citizens have been cautioned, over and over again, against encouraging or taking the notes of this concern, still a very considerable amount of them was in circulation. Several of our bankers and money dealers have been caught napping-some to the tune of four and five thousand dollars. A great many of the notes are also in the hands of poor persons badly able to lose. The notes are now offering at a very liberal dis. count, but do not find purchasers. It is barely possible that the failure is a ruse for future speculation. The schooner Thomas J. Sherwood was capsized in the gale on Saturday night off Hooper's etraits, in the bay. She was bound for the camp on Deal's island. The crew and passengers remained on the wreck in great peril until taken off. It is thought that from this accident arises the rumór of a family having been drowned on the same night. There are no further accounts of any persons having lost their lives.


Article from The New York Herald, August 30, 1850

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INTELLIGENCE BY THE MAILS. Our Baltimore Correspondence. BALTIMORE, Aug. 29, 1850. Future of the Havre de Grace Bank-Another Plainfield Concern - Shrewd ManagementBanks Heavy Losers-Excitement and Probable Row, &c. Great excitement was occasioned in our city, yesterday, by the announcement that the Havre de Grace Bank had failed, the rumor of which spread over town like wild-fire. On reading the bulletin boards, it was amusing to see every one clapping their hands on their pocket books, whilet others jumped in omnibuses to make their way home with all possible speed, to examine their deposits. This bank was originally established by a wellknown Jersey financier and Cuban revolutionist, in connection with a half dozen Wall street stock jobbers. By associating with them several gentlemen who steod pretty fair in public estimation, they succeeded in giving the institution some character in the vicinity of the place of its location; but for two or three years it was not touched in this city, except by the most careless Within the last year, however, the banks of Baltimore commenced to receive its notes ou deposit, since which time its circulation has become quite large in the city, and it 18 presumed that not less than $40,000 of it are now in the hands of our citizens. The failure seems to have been managed with true Wall street ingenualy, as neither our banks or brokers had any suspicion of its unsoundness. Indeed, large sums were, yesterday, received on deposit at the banks. the news not reaching here until after one o'clock, an hour at which most business men had made their deposits for the day. The immediate cause of the failure of the bank may, probably, be based to the operation of the new email note law of Pennsylvania. Its notes of a less denomination than $5, had obtained a large circulation in Philadelpnia, and also in the interior of Pennsylvania, by the the ADS of the Tide-Water Canal, which has its outlet at Havre de Grace. Holders of these notes in Pennsylvania have been compelled to pass them over to the brokers, and large some were yeste rday presented at the counter for redemption A package of $6,000 had been received fr om Philadelphia by a broker of this city, who, perceiving by the amount sent to him, that the bank would be run in a few days, from the effect of the new law, demanded his money in specie, when the bank was immediately closed and all business suspended. The officers state that it will be again opened in a few days, with funds to redeem all outstanding liabilities; but a letter has been received from there, indicating that it will probably be opened to-day, with a crowbar in the hands of some of its excited note holders The cars this morning will take a large number of the heaviest holders from this city to Havre de Grase, and a warm time is anticipated there to-day, unless some satisfactory arrangements are made. This is the fourth or fifth bank failure with which the principal individual has been directly or indirectly connected, and I presume if he were to establish a half dozen more, that people would be found green enough to receive his promises to pay at par.


Article from The New York Herald, September 1, 1850

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Our Philadelphia Correspondence. PHILADELPHIA, August 30, 1850. The Havre de Grace Bank. The failure of the Havre de Grace Bank has not occasioned much loss in this city or State, because the explosion was caused by our people parting with the rags of this swindling concern, and the subsequent action of the brokers who bought them, in demanding specie at the counter of the bank. So far, the action of our small note law has been productive of good; and as there are upwards of one million of dollars, in foreign small notes, still floating about the city and State, their redemption may be attended with more suspensions. I can mention more than one bank in New Jersey and Maryland that have for years derived all their credit, and nearly all their profits, from the circulation of their notes in Pennsylvania.


Article from New-York Daily Tribune, September 5, 1850

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NEW-YORK DAILY TRIBUNE, SEPTEMBER 5. Ohio, 5 124@5 STA for rure ASAG nominally, for fancy Ohio old and new. for pers and shipowners differ as to rates. To Lonsee 50105 75 for old and new FILS don, within 3 day or two, we notice engagements new xira Generee Sales 000 bbls Canadi 4 part rexport South-ro the of 3,000 bbls. Flour, 300 do Oil Cake, and 400 do with saler, 1,50 bbl= at $5@ 25 for old and new Meal for Jersey. Resin, at 1s 6d; 200 casks Ashes, 17s 61; and 30 42 with good demand. Thesales bble. hhds Tobacco, 20s and $100,000 Specie 1/4 of Export from 1st to 31st August 1850 bbla.148 462 Flour... Wheat one ¥ cent. To Havre, 100 hbds Bark, $7.GRAIN-Thereis nothing d bing in Wheat and the To Antwerp, 1,300 bales Cotton, 1 a cent 160 especial for Southern. The de is fair for milling. The agaies 000 bush Generee at bbls. Ashes, 20s Lard, of a cent, and Fastic, 111c.andsome small prime at 112tc. and 6,000 20g. The bark Narraganset has been sold for Pennsylvania part at 78@88c for Inferior to fair, and w maidet private terms. The Corp market is $19,000. for the California trade. change. Sales 12,000 bush 59@60c for Western The Secretary of the Treasury has given an or which is the only kind in market are 70 Northern.ard good e scarce. is nominal at der for a million and a half of dollars to be paid hear of norales. out of our Bub Treasury on Miat certificates by Export fr 1st to Slat August. 1850 bushels 45,954 Wheat. bqahela 11.988 Mr. Snowden, of the Mint Mr. 8. probably re Corn.. PROVISIONS- Pork there is nothing of imp ceived the order this P.M. and will be or er to doing the quotations are heavy. Sales 400 o 50 morrow. at 25 and 25. In Beef there only retail but In Cut Meats there is nothing doing or Lard 300 bb) The Money market is a little less easy, and sec. 107c the latter for prime. Batter and Cheese ond class paper goes with more difficulty, On before reported. 1850 Export from 1st to Sist August bbis 2,575 call the supply of money is still abundant. ToBeef bbia 9,420 Pork morrow being settling day with the Banks, makes kega 3,165 Lard the market more stringent to day. First-clea pa. GROCERIE -There a moderate business doin erally In Coffee the market firm and active, and per goes at 6@7 ¥ cent. for short time-long p& bags Rlo mold to-day, Sugars and Mo per is 8@10 per cent. auctioneers 7@10 & cent. NUTMEGS-Bales No. 1 12.@1 15c 0 according to supply. Collateral loans in good LEAD-Is held firmly. sale of 900 plga hard cash. stocks are 5@6 P cent. Some loans on Govern IRON-Is anjet. Sales 200 tuns Scotch Figal 19 25. ment securities are running at 1041 to cent. but 20 25, 6 mos English Bars are dull at 885, mos. LIME-Sales 1.500 bbla Rockland at 78c. cash DO new cnes are made below 5 ₽ cent. The TEA-The sale went off with spirit and Learly the catalogue sold. Low grades Young Hyson west at Banks are generally discounting all the good offer improvement. Blacks went advance ings of their customers, but do little else. and kinds and well. Some Gunpowder, and high dysons and Imperial were withdrawn. At private The sale of the assets of the Canal Bank at Almarket continues very firm and baoyant and prices bany was held to day, and realized $10,056. The upward tendency the sales include 350 chests Cong 2,500 pkgs Hyson Skin and Young Hyson, from a aggregate par amount was $302.00 arrival on terms we did not lear The traffic of the Harlem Railroad for August By auction this day. Teas imported in ships Ort Great Britain, &c terms months shows a continuance of the increasing business of Hyson- 68; 5 do 49 51 do 48 53 do 43: the road. The earnings are as follows: Young chts at 70:57 do 551: 60 do 5% $38,135.33 August, 1849 do 42; 962 45do S7; 49,094 August, 1850 61 cases cattles do 751; 58th 64 1 do 594. $10,959 Increase Gunpowder chts 72H; 20 do 60; 25 catt We yesterday gave the amount of Exports from Imperial--47 bfchts 74 i61 do 57; cases cattles 86; this port during the month of August, showing afa 564 dc 18: 41}; 100 do 41: vorable increase, and we no add the do 42 Ning Yong-60 hf chis 46. same month, exhibiting a large decrease of mer. Ning Yong Pouchong- of chts 42 chandise, as compared with July and as compared FISH-There is more activ and prices of in scriptions supported About 8,000 quinta with August of last year, proving the truth of the Cod. have arrived of which sold at 624@2 opinions we expressed when giving the imports of large fish. New ekerel are more plenty. the re reaching 1,500 with good demand, all July that August would show a considerable fall. been taken at $11 for No 1, for for ing off. The figures are as annexed closing revise our quotations for new Mac old No1 continue firm at 50@ $8 No 2 are out o IMPORTS AT NEW-YORK AUGUST 1850. ket. Box Herrira in active regnest: 000 bx 1819. 1848. $9796778 been disposed of At 50@58c for Scaled 30@33 for $11 564,050 Dutiable mdse. noticed areas 707 633 1.128 555 Salmon Free 3.457.684 60,739 138,855 NAVALSTORES-Generally, are rather Inactive Specle and Bullion sales we have to notice are 800@ bbis Wilmi 1 769 217 $12332.422 $11.064.188 Common Reale, in lota at 175@1 2021 Total 1,7,6,055 Tar. 25@2 50 the latter for 100 selected 1,497,294 Withdrewn from Warehouse Parpentine 31@32jc cash $13,485,272 $13829.7.6 TOBACCO-Themaiketis quiet day. but firm $1,743,211 $9.6,541 stock in the Inspection Warehouse, 1st inst. con Entered for Warehouse Kentucky. 879 Virginia and North Carolio The receipts of specie and ballion, it will ba seen, 3Marylend-1ogether, 8,435 hada-being 2,666 more are very large, and include some of the California WHALE&ONE-Continues in steady good de imports. The Importe, compared with those of without change in prices- sales ara 17,000 its Coast at A frac over 34 II) Polar. last month, are as follows th South Sea. on private terms; and 9,000 ID Polar, at August. July 36 cash here. come Bedford, $3,065,281 $16,591,446 Dutiable mdse LATHS-Eastern continue la request with sales 246,249 493572 Free cash 374, COR. at 1 25@1 3457.681 1,927,708 Specie and Bullion WHISKY market is weak. with sales 250 b $11,769,217 27c. Drudge is 263c and nomical $19018.666 Total WOOL-There leas activity and the receipts are 1,716 065 941127 Withdrawn from Warehouse extent The demand mainly for ow and medium $13,485,272 ties. The salesare 7 000 the mixed Illinois SSc, $19 962 793 Pulled is scarce, and the supplies of No Country c 1,743,211 2,155,320 Entered for Warehouse forward are gold at 40@41c in advance of arrival. The entries of March and in August were only Markets BALTIMORE, Be $10,027,588, against $18,035,085 in July. Our markets are quiet. Howard-st and The figures we give above for Augast are from Milla FLOUR sell Other articles are unchange. the Custom House records, and should be correct, Markets BUEFALO, Sep but we must add that they are much smaller than Receipts since our last have been as follo we anticipated, and smaller than the amount of FLOUR, 1.500 bbls . WHEAT. bush: CORN,10 heavy the ket demand mar duties would indicate. The amount of Dry Goods in moderate FLOUR IS downward tendency Small sales of Michia importations we published a few days ago reached $3 07. There not much inquiry for WHEAT bold A177c. CORN is not 80 active. but we have nearly the whole amount of merchandise imports to record in prices: xed Western has been sold above. We hope to find the figures we give quantities at 49c. FREIGHTS are unchanged. correet, but have some misgivings on the subject. ALBANY, Sep Markets The business of the New-York and New.H The past 24 hours' receipts have been F road is now 60 large that the Directors have found 8,000 bbla : WHEAT none; CORN 4 500 bush. The market has been rather heavy, but we notice no cha it desirable to have a double track from Bridgeport moment in prices. WHEAT firm with good inquiry CORN is inactive, but without S to Fairfield, and from New Rochelle to Mamaro2000 bush have taken place. at 59c for Western neck, and accordingly are about to lay a double 00 bash of two-rowed BARLEY sold BI 77c to in week or 183 days OATS are doing better, and track between those places immediately. rne Dalance in the BuD Treasury La $7,100,000. Receipts of Produce Under the head of Doubtful Banks Thomp By the North River Boats, Sept. 4.-7.516 Flou 172 do Ashes 296 do. Whisky, bushels son's Bank Note Reporter has the following re8,500 do Oats. 16,700 do. Wheat 81 000 do Feed, 550 marks: Chee se, 290 pkgs Butter. 392 bales Wool. The notes of the Eagle Bank, Bristol, R I. are IY a still discredited by the Boston Banks, but are reOn Wednesday morning Sept. at Church of the deemed in this City by parties interested in the tans. Ucton Park,by Rer Dr. De Will Milas JOBER Bank, at 1/2 ¥ cent discount. We do not think the A MEAD, eldest hter of Walter Mead, Bank will break, but it should, in justice to public GEORGE A. HALSEY, Counsellor at Law, all opinion, wind up. City. in Moriah, Aug 28 by Kev J. 8 Moth, Mr W. GU The Cashier of the Mineral Bank of Maryland HENRY of B sion, Mass and Miss CAROLINE LO writes us that his Bank is al right. Bo did the of Morlah, N.Y. Cashier of the Havre de Grace Bank write us th his Bank was all right, not a month before it failed. DIED The truth is. the outsiders use these Cashiers FL Y HOL ANN On Wednead av morning, Sept 4. Mrs cloaks to cover their rascality, and the Cashier wife Joseph Holden. A.G S D Her funeral take place from her late realden knows nothing of the day nor the hour when the Canal-a The members of aFavette Union, No Bank is to break. Union Division. no 8 ot T. Pilgrim Lodge 243. The owner of the Salisbury Bank, in this City, O.F. the me mbers of Greene-et M E. Courch, friends and acquaintances generally, are invited to is trying to sustain it. We don' t believe ha can o'clock this day (Thursday) do it. P After ashort illness SILAS W youngest son of The owner of the Commer ial Bank of New. and Mary Merrill aged years and months. Tke relatives and friends of the and also the Jersey 18, or was at the time f writing this caubers of Lexington Chapter, No. 17. O'U A and Iv tion, still redeeming his notes We don't believe Lodge No 857.1 o o F are respecifully invited he can bold out long. tead his faneral from the of his father, A correspondent asks why we omit the Far st Brooklyn, this (Thursda afternoon, at o'clock. mers' and Mechanical Bank of New Brunswic On ednesday, Sept 4, HENRY M. TRANCHA of 24th hisage. year the N.J. in our list of Doubtful Banks We've no His friends and readires, and those of his father, S reason we only forgot it-40 in it goes. Trenchard, are invited to tend the after Thursday 5th tpst. from 137 Delancy o'clock. Tuesday, Sept. of dysentery, GEORGE Markets CAREFULLY REPORTED FOR THE TRIBUNE of Charles and M aged years and 6 m WEDNESDAY. Sept. 4. The friends of the family are avited to attend the ASHES Pots are dolog better, with sales 200 obla al 6 from the residence of his father, 154 East T wenty B1 12/@6 25 Pearis with sales 50 able. Thursday afternoon at 2 o'clock. 1849 Export from lot 10 31st August. 1850 On Tuesday, Seps S, HENRY M. ELLIS, Printer, bble. Pots. 2,356 33d year of hla ge Poaris 676 His Glenda and acquaintances are respectfully invi COTTON- The market is active and buoyant and well attend his funeral, from his late residence, 129 Orchar supplied, nd boyers are plenty. Sales 3000 Dates at very #4 2t* full prices, showing in some cases 1c advance. On Monday morning, Sept. 2, GRACE, infant dar 1850 Export lat to Sint August. 1849 of Lindley and Fanny R. Murray. Cotton .bales.55,077 9,917 Export from the United States bales. Since 1st September, 1849 1,575,185 Passengers Arrived. Same time, 1848 I U S Mail steamship Washington from Breman Upon careful examination the stock of Cotion in this Fouthampton-Louis Thomerman, disa Rebecca Ti port now seceranned to be 60,720 balee, as follow man, T H Seebeck and lady, Adolf Benkin and lady On band, unsold 96123 bales. man Reckin. Miss Eitse Reckin, y les Catina Hoeg Bold, but not delivered 11,651 Otto Kappelman and lady, Acta Kappelman He AI the Cotton presses, and on shipboard not cleared 12,946 Kappelman. Otto Kappelman. John G Outmans, The Wilkins and ledy, Wm Ladwig G Hammerman, Total 60,720 ler and lady. G Bli-xhabo and lady, Adano Tung, By the following it will be seen that the quanity taxen Roth, B Stein end lady, Bara Salizhoter, F Brinkman, for consumption during the year is 159,4 bales thas: Carped, ono Flock D Wasserman and Elaan 67,085 Stock, August 31, 1819 serman Solomon Wasaermaa, Hessberg, TGB Received since 467,898 Montz Wincaler, G Hainewar and lady. Misa: Hain Haipeman. Haineman, Misa D Haineman Miss


Article from Republican Vindicator, September 9, 1850

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RUNAWAY ARRESTED.-A bright mulatto man named Perry Green about 26 years of age, was arrested at Franklin Hotel, Tuesday night last, upon suspicion of being a slave, attempting to escape from his master. The boy applied for passage on the Packet to Richmond, represent ing himself as a free man on a visit to Penusylvania--and papers purporting to be free pawere at of were to was every pers Mr. Boyd, particular. abducted but He by found him, forthwith be the irregular instance arrested, in and upon his appearance at the Police office he acknowleged, after persisting for some time to the coutrary, that he was a slave belonging to a man by the name of Price, living at Newport Giles county, Va. He had in his possession, an Atlas and a Geography, pen, ink and paper, and had the distance regularly noted down from Newport to Richmond. He has no doubt been under the guidance of some scoundrel of a Yan. kee, who in all probability, acoompanied him to this place, and witnessed his arrest. We warn the people to keep close watch, for nearly every southern community has now one or more Yankee abolition emissaries in its midst, colporteurs, book sellers, tract agents, school teachers, and such like characters, who omit no occasion to poison the minds of our slaves, and then steal them.-Lynchburg Republican. Curious STATEMENT.--It is stated that the building for the exibition of 1851 will contain 500 miles of window sashes, 100 miles of putty, 24 miles of zinc guttering, 8 miles to drive under cover. The building will be wholly of glass, wood frame and iron pillars. In one position the spectator will be able to see 1,000 feet before him in one unbroken view. It is believed that the building will be so superb that the public, on whose béhalf the opposition has been made, will be the first to oppose its removal.A writer in the Builder states that a 150 tons of putty will be required to make the building. European Times. GREAT OVERFLOW AND DESTRUCTION OF PROPERTY.--The Richmond Republican has accounts from Clarksville and Farmville, Va., of a great overflow in the Roanoke Valley, sweeping off thousands of hogsheads of tobacco, almost entirely destroying the corn and grain crops and ruining hundreds of farmers. CENSUS OF ALEXANDRIA, VA.-Mr. D. Cawood has completed taking the census of the town of Alexandria. The whole number of inhabitants in the corporation is about 8,700, There are 1,232 dwelling houses, containing 1,296 families. The death for the year ending 1st of June, 1850 were only 147. NUMBER OF JEWS IN THE WORLD.-Isaac de Costa, a learned Jew of Amsterdam, estimates the whole number of Jews now in the world at from five to seven millions. He allots only 50,000 to the United States, where he tells us they are treated better than in any country in the world, except perhaps Turkey, which is more liberal to them than any European government AN OLD SINNER-John Vanhooser lives in Jefferson county, Tenn., aged 122 years. He has always voted the federal and whig tickets. BROKEN BANK.-The Havre de Grace bank of Maryland, has closed, and a wag thinks it will not be opened again, unless with a crowbar. A correspondent of the Boston Times recommends for the cure of diarrhcea, one table spoonful of fine salt dissolved in three table spoonsful of vinegar. He has found it an unfailing remedy in his family.


Article from The New York Herald, September 9, 1850

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It appears by this that. since Saturday week. there has been a decline in Erie Railroad of % per cent; Har. lean, M: Canton Company, X: Morris Canal. %; Erie Income Benda, %; Erie Second Mortgage Bonds, 2% If we had taken the lowest price current during the past week. we should have shown a greater depresistion than the above. The market closed yesterday steady; but by no means with an upward tendency in prices. The brokers refuse to buy Have De Grace Bank notes at any price There are several banks within a limited section. in Maryland. which are in bad credit. and It would be dangerous to keep any of their bills over night The Bank of Salisbury, and the Port Deposit Bank, are of very doubtful character. The agent of the Bank of Salisbury in this city, is a msa of charact and substance. and his guaranty is very good. so far as It goss, or as long as It exists, but he is not bound to redeem the bills of the bank any longer than be feels disposed. and he may refuse to do so any day. Any bank that sustain has not within itself sufficient strangth to Mr credit. cannot live long on other peoples'. and its is. sues are dan gerous to touch It is stated that the arrest of the eashier of the Havre De Grace Bank, was at the instance of a gentleman of Port Deposit. whose private funds the cashier had used to sentain the are. dit of the bank under the rua which was made upon M, and which compelled the closing of its doors. The im portations of foreign drygoods have lately been comparatively limited, and the probability is that the bulk has been received for the season It appears by the subexed table that the total value of foreign drygoods entered for consumption during the week but slightly exceeded one million of dollars:MOVEMENTS Former Gasse


Article from Richmond Palladium, September 11, 1850

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The legislature of Maine has appropriated $100,000 towards establishing a Reform School in that State. The cashier of the Havre de Grasse Bank has been committed to Belle Air jail. The president and all the Mary. land directors are under arrest. The assets of the bank are not worth 85, yet the liabilities exceed $90,000. Father Matthew is at Memphis, Tennessee. The Free Soilers of Ohio have nominated Edward Smith as their candidate for Governor. The democracy of Summit county. Ohio, in a late convention. passed resolutions repudiating all connexion with the free soil party, and expressing their determination to maintain their strict party organization. By the law of New York a man may be sent to the penitentiary if he marries a girl under fourteen years of ageif he marries two over fourteen he goes to the same place. The Goshen Democrat says, "in northern Indiana there is at present more sickness than has been any time since the year 1840, Cars are now running on the Belle. fontaine Railroad. from Indianapolis to Lick creek, 23 miles: and will go as far as Pendleton in a few days. OF-The railroad from Shelbyville to Rushville is completed, and cars are now running daily from Rushville to Madison. The population of Michigan city is less than 1000; and that of Laporte is over 1800. The congressional delegation. elect. from Missouri consists of three whigs-one Bentonite democrat, and one antiBenton democrat. The President of France has expressed his determination to remain at the head of public affairs if public opin. ion should be in his favor. without regard to the obstacles placed in his way by the framers of the constitution. Will the French permit it? The Cherokee and Georgia which have just arrived at New York, bring 3,000,000 of gold dust. Bayard Taylor is the successful competitor for the $200 prize song to be sung by Jenny Lind. or A new democratic paper is about to be established at Washington city, for the purpose of advocating the claims of Benton for the presidency.


Article from Jeffersonian Republican, October 3, 1850

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The officers of the Havie de Grace Bank have published a card, in which they say that the Cashier, unknown to them, loaned one person in New York and another in Ohio, the sum of forty five thousand dollars in notes of said bank, which coming back for redemption, caused the suspension. Efforts are being made to recover this money, which, if successful, will enable the institution to meet its liabilities.


Article from The New York Herald, November 29, 1850

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Our Baltimore Correspondence. BALTIMORE, Nov. 28, 1850. Thanksgiving Day--The Havre de Grace "Bank Frauds-Indictments for Embezzlement-Ma nagement of the New York Financiers-Sawdust in the Eyes of the Maryland Directors-Requisition for the Fugitives, &c. Thanksgiving day in the morning has arrivedall manner of business is suspended, and the church bells sound as clear and uninterrupted by the din of a busy city as if it were the Sabbath morning. The Harford County Grand Jury have been, for a week past, investigating the fraudulent failure of the Havre de Grace Bank, and have found true bills against the following gentlemen, for embezzling its funds:-


Article from The New York Herald, June 28, 1851

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Dr. James R. Chilton, the most celebrated chemist in the United States, has had charge of Dr. Townsend's sarsaparilla manufactory for more than a year, and has made many important improvements in the medicine. From one to two teaspoonfuls of the improved earsaparilla that is required for a dose, to act as a mild alterative and topic. Dr. Chilton's certificate. printed in green paper, will befound on every bottle prepared since February. 1850. as well d's Dr. S. P. Townsend's signature. on steel plate label, on the outside wrapper. Beware of counterfeite, and buy that only which has Dr. Chilton's certificate on the wrapper. Principal offices- In New York, 82 Namau street; in London, 355 Strand, next door to the Lyceum Theatre. MONEY MARKET. FRIDAY, June 27-0 P.M. The stock market was unusually active at the first board to day. Reading. Harlem. and Erie Railroad. were in demand, and the transactions were very large, with an advance on prices current at the close yesterday. Most all the fancies improved this morning. The bulk of the operations were on time. buyer's and seller's option. Canton Company went up % per cent; Stonington. 1; Reading Railroad.) Harlem. M Erie Railroad, 14. At the second board. Reading Railroad advanced % per cent; Harlem 14; and Erie Railroad, 1/6, with moderate sales of each There are indications of another upward movement in Reading Railroad. and the probability is that the impstus will be given in a different quarter from the last. Harlem Railroad will. without doubt, touch higher points between this and the closing of the books for the dividend. than have been realized for a long time. There has been an active demand for money. within the part few days; but it has partially subsided. and the market is pretty easy again. The failure of a large chipping house was announced to-day. The same concern suspended about two years ago. Losses on shipments of cotton is said to be the cause of the akdown this time. The firm pretented to do a commission business. but like most all other commission houses, had large speculations of their own on hand. The receipts at the office of the Assistant Treasurer of this port. to-day, amounted to $99,116.83 payment $93.200-balance, $2,966,662 84. The facts which transpired during the trial of the Cashier of the Havre de Grace Bank. have frightened holders of the bills of the Bank of Salisbury, another Maryland banking institution of the Havrede Grace order. These bills are at present redeemed in Wall street. at one per cent discount. and probably will continue to be 80 redeemed as long as it is for the interest of the agent or agents. We caution the public against the issues of this Salisbury Park. It is sustained by a small elique 6 financiers. who will let it go by the board one of these days. and the result will be similar to the Plainfield Lehigh. New Hope. Morris and Havre de Grace banks. All who have any of the Hills, had better take them at once to the agent in Well street. pay the one per cent discount and get good bills. or the specie. in exchange. There has not been a very active demand for foreign exchange for mittance by the United States mail steam ship Humbelet Wequote bills on London. 10% a 101, per cent premium: on Paris. 5f 814 a 5f 71/2 Amsterdam, 4114 a 42 Bromen. 75% a 791/: Hamburgh, 3014 a ST The Humboldt will not take out a very large amount of specie. Several orders for shipment have been counter manded She will not take more than half a million of dollars Holders of Western State. City. County, and Railroad Bonds, the interest on which is due on the 1st of July preximo. will find an advertisement in another column. designating the place of payment, upon presentation of the proper coupons. We have heard loud complaints lately. about the doings in the Government Land Office. in relation to the issuing of land warrants, and it is full time that the Secretary of the Interior looked into the matter. There are at least twenty five thousand certificates and proofs in that office waiting for warrants; and speculators who under stand how to pull the wires in that department. can get their warrants through before others which have perhaps been waiting months for their turn. The office of the Commissioner of Pensions. and the General Land Office, are equally implicated in this matter. The advantage which this unfair, unjust mode of doing business


Article from New-York Daily Tribune, October 29, 1855

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CIRCUIT COURT-Ost. 27-Before Judge COWLES. SUIT AS TO BILLS OF A SUSPENDED BANK. B. and C. H. Houghton agst Peter C. Adams. On 27th August, 1850, in the afternoon, a stranger ensered the office of Messrs. William and James Currie, brokers, Wall street, and asked if they bought bi la of the Havre do. Grace Bank, Maryland, at the same time presenting $400 of the bills to be changed. Measis. C. replied that they did not, OX. cept in small pareels. The gentleman wished to know if they could not get them negotiated for him, when one of the Messrs. Curriel handed the bills to Mr. Adams, the defendant in this case, who kept in their office, to 10 out and get changed. He got $190 changed at Messre. Houghtons' (plaintiffs). who are also brokers, and the balance at another office Messrs. Currie charged the gentleman 1 per cent. for getting them discounted, and also deducting the 11 per cent. which had been chargei by Messrs. Houghton and the other, and handed him New York money. Mr Adams received nothing for his trouble. On the morring of the 29th of August, the papers announced the failure of the Havre de G: ase Bank, Mesare. Houghton having the $190 still on hand. Mr. Adams, they allage, subse. quentiy promised to give them good money for it, but did not, and secion was brought to recover said $190 on the ground that the Havre de Grace Bank had failed at the time the bide were given by Mr. Adams to Messrs. Houghton, and that, therefore, shey were rot value The case was referred to Mr. Ruggles. Mr. Collier, the eashier of the bank, testified before the referee that the bank stopped payment on the 27th or 28th of August, 1830, and he thought it was 27th. He had written that it was 28th, but had no papers to guide him, and spoke merely from recollection. He was satisfied, however, that the bank was not opened on shat day. whether it bad supended or not. Other testimony was also taken, and the referee reported that he was satisfied, from the evidence, that the bank had stopped on the 27th, the day on which the notes in question had been changed, but as the failure was not known either to Mr. Adams or to Messra. Houghton, the latter could not claim & return, and he had decided in favor of Mr. Adams, the defendant. LAW AS TO BROKEN BANK BILLS. Messrs. Houghton appea'ed the case to the General term, which decided that if a bank has stopped payment at the time that any of its bills are changed by one party for another, no value has passed for the money given for them, and the party cashing them can recover back his money; and ordered a new trial. which now came on before the court and a jury. Testimony was taken, and the evidence given by Mr. Collier (who is new deceased) admitted, by consent, as part of the evidence. Judge Cowies charged that the rule as laid down by the General term must be considered as the law, and the hole question is whether the bank suspended payment on t 10 27th or 28th Aug.; also that if & bank bas closed its doors and partie cannot obtain admission to get their bills cashed, it must be conaidered as having failed at that time, though it may not have ceased entirely to cash its bi is. The jury considered the bank to have suspended on the 27th, and gave a verdict for plaintiff in smount and interest, which also cerrits & large bill of costs. For plaintiff, Mr. A. Wakeman; for defendant, Messra. Romeyne and McKiastry.