Hollister Bank (Buffalo, NY)

Episode Information

Episode UID
3767707990692
Episode Type
Suspension โ†’ Closure
Bank Type
state
Bank ID
376770799 hash
Start Date
August 31, 1857
Location
Buffalo, New York (42.886, -78.878)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
0ce531f2f1045667

Response Measures

None

Description

The bank suspended during a period of local and systemic panic in August 1857 and went into permanent liquidation under a receiver.

Events (3)

1. August 31, 1857 Suspension
Cause
Macro News
Cause Details
The bank closed during the Panic of 1857, specifically following the failure of the Ohio Life Insurance and Trust Company and local distress.
Newspaper Excerpt
The Hollister Bank of this city closed its doors this morning.
Source
newspapers
2. September 5, 1857 Receivership
Newspaper Excerpt
Alanson Robinson has been appointed receiver of the Hollister Bank of Buffalo
Source
newspapers
3. August 31, 1858 Other
Newspaper Excerpt
Mr. Alanson Robinson, Receiver of the Hollister Bank of Buffalo, sold on Tuesday a large amount of notes, bonds, mortgages, judgments, real estate, &o., belonging to the bank.
Source
newspapers

Newspaper Articles (21)

Article from Evening Star, September 1, 1857

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Attachments Released-Bank Failure. BUFFALO, Aug. 31.-The attachments against the Michigan Southern Railroad having been raised, the boats are now ready for the conveyance of passengers over the Lakes. The bills of the Hollister Bank, which suspended to-day, are amply seeured.


Article from Evening Star, September 1, 1857

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Monetary Difficulties at Buffalo. BUFFALO, Aug. 31.-The Hollister Bank has failed. There is a heavy run on Messrs. White, Oliver, Lee, & Co's. banking house, and on the Buffalo City Bank. The excitement this morning was intense, but it is now subsiding. The Reciprocity Bank did not resume this morning.


Article from Nashville Union and American, September 1, 1857

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BY TELEGRAPH. NEW YORK, August 20.-The ship Clara Brookman went ashore at Squam beach last night. She is a total loss. Her passengers and crew were saved. NEW ORLEANS, August 31.-The Empire City arrived last night with Havana dates of the 27th. The Illinois went ashore on Colorado reef. She got off with little damage, though with much difficulty, with the assistance of a Spanish steamer, which the authorities sent to her. She will probably leave Havanna on the 29th, with over a million and a half in specie. California news unimportant. There had been several large fires in the interior. NEW YORK. August 31.-The steamer Atlantic arrived, with Liverpool dates of the 19th. The Asia arrived at Liverpool on the 16th. Her news caused an advance of 1-16 on cotton in Liverpool. The market buoyant. The weather is favorable for crops. Flour active, at an advance of 6d. Wheat firm holders demand an advance. Corn very dull. Provisions quiet. Consols 914. Cotton sales for 3 days 28,000 bales, of which speculators and exporters took 4,000 each. News unimportant. The submarine fleet arrived at Plymouth. The Directors meet at Linden on the 19th to determine further proceediugs. It is believed the company will take immediate steps to rescue the lost portion of the cable. Storms and floods have caused much damage to the crops in England. Money on Government securities plenty at from 4 to 5 per cent. The Times says that British trade will not suffer from Indian events. There is great activity in Indian corn for the shores of the Adriatic, where the crop has failed. It is rumored that France intends to demand the extradition of Ledru Rollin, who is about to leave for America. It is stated that France will send a naval expedition to Cochin China, to demand satisfaction for in sults to her flag. Russia is equiping a flotilla for the China seas. The Russian Imperial Guards have been reduced to 30,000. It is rumored that Lord Stratford D. Redeliff will be supplanted by Lord Howden. LOUISVILLE, August 31.-The National Agricultural Fair opened by an address from Marshall P. Wilder. There were 20 to 30,000 persons on the ground. The weather is remarkably fine. To-day was devoted to he trial of speed on the track, and exhibition of horses. HALIFAX, August 31.-Orders have been received here to ship four regiments immediately to India. WASHINGTON, Aug. 31.-The Treasury Department has just paid the State of Maryland half a million dollars interest on indebtedness for the war of 1812. The principal was paid forty-four years since. The Secretary of the Interior has instructed the United States Marshall of Minnesota to take the census in that Territory whenever the people wish to form a Constitution. BUFFALO, Aug. 31.-The Hollister Bank has failed-a heavy run was made on White, Oliver, Lee & Co., and the Buffalo city banks. The Reciprocity bank did not resume this morning.


Article from New-York Daily Tribune, September 1, 1857

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FAILURE OF THE HOLDISTER BANK, &c. BUFFALO, Monday, Aug. 31, 1857 The Hollister Bank of this city closed its doors this morning. There is a heavy run on O. Lee & Co.'s, White's, and the Buffalo City banks, and the excitement has been intense. At noon, however, it had almost subsided. The Reciprocity Bank has not resumed,


Article from The New York Herald, September 2, 1857

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The Buff lo Advertiser of the 31st ultimo saye:-The R3. ceiver of Taxes of Buffalo, when the Reciprosity Bank closed lis doors on Saturday morning, had the sum of twenty-seven thousand dollars standing to his credit, but the Re oelver could not find 11. This amount was the re ceipts of the five previous days. We understand he makes up his account every Saturday and deposits with the Treasurer once a week All moneys received during the week are deposited to his individual credit. The ball of the Receiver is $80,000, made eare by twelve responsibio citizens. THE HOLLISTER BANK The Hollister Bank of Buffalo, which closed yesterday, has the following securities lodged for its circulation:$39,400 Bonds and mortgages 31,500 New York State stock, 6 per cent do. Do. 82,000 6 per cent Total $102,900 Circuision 100,269 The circulation is probably perfectly secure. ROCHESTER MANUFACTURES-SHALL THEY BE SUA-


Article from Carroll Free Press, September 3, 1857

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BUFFALO, Aug. 31. The Hollister Bank closed its doors this morning. There has been a heavy run on some other city banks. But it has resulted in no damage to them as yet. The excitement has been intense during the forenoon, but has now almost entirely subsided.


Article from The Athens Post, September 4, 1857

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WASHINGTON, August 31.-The Treasury department has just paid the State of Maryland half a million dollars interest on indebtedness for the war of 1812. The principal was paid forty four years since. The Secretary of the Interior has instructed the United States Marshall of Minnesota to take the census in that territory, whenever the people wish to form a constitution. BUFFALO, August 31.-The Hollister Bank has failed. A heavy run made on Whites, Oliver Lee & Co., and the Buffalo city banks. The Reciprocity bank did not resume this morning. NEW YORK, Aug. 25.-The President of the Ohio Trust Company, in a card published this morning, says that the capital of the Company is $2,000,000, and is sound and reliable, exclusive of the anticipated losses from insufficient securities. The Tribune anys that the liabilities of the Company are estimated at from five to seven million dollars. Washington, Aug, 27.-The Attorney General decided that the money received by Deputy Marshall of Alabama from Lovelace must be delivered to the Post-master General. The President has appointed Beverly Tucker Consul to Liverpool, vice Hawthorn resigned. Henry W. Spencer, of New York, Consul to Paris, vice McRea. Charles J. Fox, of Michigan, Consul to Aspinwall, vice Thornton. Ernest Volger, of Va., Consulto Bareelona, vice Pablo Augera. Jacob Fornev, of Pennsylvania, Supt. of Indian affairs in Utah. NEW YORK, Aug. 29.-Endlow, Cashier , of the Ohio Trust Company has been arrested. Cotton quiet. Wheat firm. Corn 30. Sugar heavy, Rice declined 1. Whiskey declined 1. CINCINNATI, Aug. 29.-Flour 5,25n5,50Wheat dull. Whiskey 211. Linseed oil 70.


Article from The Tipton Advertiser, September 5, 1857

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Financial Affairs. Money matters in the East are apparently in a very unsettled condition at present. Several private firms have gone down, as also some banking estab. lishments, and a good deal excitement has been caused. The pressure does not seem to extend West. There has not been the least excitement in Chicago owing to these Eastern failures, and it is believed there will not be on this or any other account. We give the following from some of the Eastern cities: Buffalo, Aug 31. The Reciprocity Bank (late Sackett's Harbor Bank), and the Hollister Bank, both of Buffalo, have failed. Great excitement has been caused in the city in consequence, and a heavy run has been made on some other banks, but it has resulted in no damage to them as yet. New York, Aug. 29. The severity of the money pressure increases, and has extended outside of Wall Street and the Stock Exchange. Dearer rates are now paid, directly or indirectly, for accommodation outside of bank, than have been known since last winter. The very best paper is quoted to-day at 12 per cent., and good single names, which in ordinary times would be classed undoubted, are going at 15 per cent. Among the Wall Street brokers, the pressure for money on their own account is less severe than the greatly increased inconvenience of doing business through bank. The settlements, from han I to hand, are made so difficult by the new guards imposed on the certification of checks, that double commissions are fairly earned in completing the transfers, and the deposits and payments of the day. The report that the Farmers' Bank of Saratoga County has failed is without foundation in fact, as the bills have been and are still received by the Metropolitan and American Exchange Banks, as usual, and are redeemed at the counter of the Bank on presentation. Philadelphia, And. 28. The symptoms of commercial panic felt here for the last few days are dying away without a vestige of failure, although one or two of our banks were supposed to be seriously alarmed. Confidence is being established, and all commercial relations are strengthening. Among the brokers were six or eight lame ducks, whose wounds were bandaged by their friends, and they are now moving about without the aid of bank crutches. Boston, Aug. 28. Bank stocks are firm, and money appears to be in good demand.


Article from Muscatine Weekly Journal, September 5, 1857

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THE NEWS. -The free-State men of Kansas, in Mass Convention at Grasshopper Falls on Wednesday, the 26th nlt, resolved to participate in the October election for delegate to Congress and members of the Territorial Legislature, in spite of the swindling bogus apportionment. Marcus J. Parrott, of Leavenworth, was nominated for Delegate. -In New York, on the 2d, Judge Peabody directed not to discharge the writ of habeas corpus in the ease of Mrs. Cunningham. The question of bail will be argued on Thursday. FOREIGN-The steamship Vanderbilt from Havana and Southampton the 22d, arrived at New York on the 2d. By this arrival we have important advices from India. General Barnard and Sir Henry Lawrence were dead. The Europeans at Ikernonedose had been massacred, and that place recaptured. More English troops had arrived at Calcutta. The rebels had been defeated in three engagements. No decision had been come to at the departure of the Vanderbilt concerning the Atlantic cable. The Directors sit in permanance, and the commanders of all the ships will consult with them. The official report of the Engineer is published, and expresses greater confidence than ever as to the final result. -An election for State and county officers took place in Vermont on Tuesday, the 1st. A dispatch from Montpelier states that the vote was small, but the returns show large Republican majorities. Thirty-one towns elect thirty Republican Representatives and one Democrat to the Legislature. A Democratic gain of one. -Tuesday was a day of universal financial excitement on Wall street, New York. A dispatch of that date says: "The Mechanic's Banking' Association has closed its doors in consequence of the defalcation of one of its officers to the amount of $70,000. J. H. Prentiss & Co, exten-ive hat manufacturers, failed, and Adams & Buckingham, bankers and dealers in flour, are reported failed. Money is very stringent. There are heavy runs on several Banks." -The two Conventions at St. Paul have agreed upon one Constitution to be submitted to the people of Minnesota. -We learn, through intelligence by the steamer Atlantic, which arrived at New York on the 31st, from Liverpool on the 19th, that the loss of the Atlantic Telegraph Company by the breaking of their cable is not likely to exceed ยฃ25,000. It is confidently anticipated that at least one half of the sunken portion will be recovered. The directors had not determined when the steamer left whether they would make another trial this season or not, but the probability is that they will wait now till another summer. -The following additional bank failures are reported: Reciprocity and Hollister Banks, of Buffalo, and Bergen County Bank, N.J. STEWART ELECTED GOVERNOR OF MISSOURI. -Ail the counties in the State have been heard from officially, and Stewart beats Rol.. ns 343 votes. Sasava the Renut blican


Article from The Weekly Minnesotian, September 5, 1857

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BUFFALO, Aug. 31, The Hollister Bank closed its doors this morning. There has been a heavy run on some other city banks, but it has resulted in no damage to them as yet. The excitement has been intense during the afternoon, but has now almost entirely subsided.


Article from The New York Herald, September 5, 1857

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intors that the interest account of this company, with its expenditures for construction represented by bonded indebtedness, will more than absorb the ensire landed estate, leaving the road to e he stockholders at a cost of from ten to fifteen millions of dollars. It is prety generaily admitted that the reilroad Itself is a failure, that it to n dead weight upon the landed department, and will be annually an expense instead of a pront. There is, we be lieve, very little doubt about this. The stock cannot be maintained's anything like current prices, and the sooner the public mind is prepared for a collapse in this inflation the better for all parties concerned. For months past the stock has been sustained by parties who have recently failed, and its principal support has therefore departed. At the second board the market took just about the turn we anticipated. Prices were all off, and stocks were freely offered at the closing rates. New York Central declined 1 per cent; Missouri 6's, 1; Milwaukle and Misaissippi, 1% Erie, 1%; Reading, 4; Michigan Central, 1; Michigan Southern, 136; Cleveland and Pittaburg, 3/2. There was no foun, dation for the recent sudden improvement in vallroad stocks, and only the moel ehort sighted speculators have been deceived by it. We expect to see prices go lower than they have touched yet; but the descent will be more gradual than the last. There to a dead weight pressing upon the market. There are no shorts in the street, and the demand from that source has, therefore, coased. This interest has at all times been a great sustaining power, and the demand for the bears has at times saved the market from a regular breakdown. After the adjournment of the board the following fales of stocks and bonds were made at auotion by A. H. Nicolay:51% $550 Sun Metual Insurance scrip of 1856 680 Union do. 1857 44 do. do. 31 490 Commercial do. 1856 do. 102 80 shares Grocers' Bank 110% 20 Beckman Fire Insurance Company 18834 10 Equitable Insurance Company Also, the following by S. Draper:4 $80,000 2d mort. bonds Penobsoot RR. Co., int added 2,000 2d mort. bende Dela. Lackawana and West., do 60 40 20 shares American Guano Company stock The City Tax Receiver gives notice that the Assessors' books will be placed in his hands on Monday, the 7th inst. He will not receive payment of taxes in envelopes. The failure of Oliver Lee & Co.'s bank, of Buffalo, 18 announced; also the Danny Bank, of Danby, Vermont. The gross receipts of the Second Avenue Railroad Com pany during the last four days amounted to $4,500, ave. raging more than $1,100 per day. Alanson Robinson has been appointed receiver of the Hollister Bank of Buffalo, and has filed bonds with two sureties for forty thousand dollars each. The land sales of the Dilinois Central Railroad Company for August (exciusive of town lots) were 31,233 17 100 moresfor $446,654 68, at an average of $14 80 per acre. The value of merchandise, &o., imported into and exported from this port during the month of August, to each of the past three years, was as as follows:COMMERCE OF THE PORT OF Naw YORK-AUGUST, 1857. Vairie of Imports. 1967 1969 1866


Article from The New York Herald, September 6, 1857

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NEW YORK. THE SUSPENDED BANKS IN BUFFALO. [From the Buffalo Advertiser, Sept. 1) There is list e definite info mation as to the probable ro sumption of basiness by the suspended banks. The oberter of the Recterecity Bank is so valuable, and ise assets in such a condition, that It is antici oated that It may go on again. We sincerely hope that this course may be found best by those most interested It 10 said, on very good authority, that the officers of the Hollister Bank have de chred offers of assistance to a large amount, under the conviction that it is best to go into Hquidation we under stand that the embarrasaments are caused by having be come involved in the Recketts Harbor and Saratoga Ball. road. At the time the bank commenced operations 1: was really one of the soun ies: institution. in the city, and 18 1* n matter of surprise with all prodent men that It should have alle wed itself to be drawn into the support of #? to save a project FLE this Sacketts Harbor and Saratoga Rall road THE FINANCIAL PANIO IN BUFFALO-THE BEGINNING AND THE END. [From the Batfalo Cou-ler, Sept. 1] The bank panic yesterday furnished 81 apt Illustration of the homely but expressive phrase, great cry and 11t


Article from Wheeling Daily Intelligencer, September 7, 1857

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FAILURES, ASSIGNMENTS, &c.-The following are among the reported failures, assignments, &c., for the week ending on the 3d, which we copy from the N.Y. Independent: New York-Mechanics' Banking Association, city, suspended. Beebe & Co., Bankers, city, suspended. Atwood & Co., Bankers, city, suspended. J. H. Prentice, Hats, city, suspended; liabilities large, but surplus of about $500,000. and will undoubtedly soon resume. Adams & Buckingham, Flour, city, suspended. Williams, Stevens & Williams, city, failed. J. & J. 0. Secor, Founders, city, suspended; liabilities large-offer forty cents secured. John Thompson, Broker, city, before reported, has assigned. Goldsmith & Gutman, Cloths, city, suspended; liabilities about $100,000. Chambers & Heiser, city, failed and assigned. Henry Antler, Clothing, city, failed. Louis Wusterman, Furs, city, failed. John Allen, city, failed. J. L. Wyckoff, Williamsburg, failed. Reciprocity Bank, Buffalo, suspended temporarily. Hollister Bank. Buffalo, suspended. Swartz Iron Works, Buffalo, assigned. Baltimore.-Flatan & Lehman, Fancy Goods, failed. S. Wallack, assigned. Louisville, Ky.-Thurston & Ely, assigned. Ohio.-H. Harmon, Marion, assigned. Robert & Moffat, Cincinnati, assigned. Casper Bess, Dayton, failed. Philadelphia, Pa.-Jacob Stine, D.G., failed.


Article from Holmes County Republican, September 10, 1857

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Banks in bad Repute. The paper of the following Banks has been thrown out of the Eastern Banks, and they are reported "broke." It is altogether probable, though, that as soon as the present panic has subsided a little, that most or all of them will resume business again: Bank of Hallowell, Hallowell, Maine. Exter Bank, Exter, N. H. South Royalton Bank, South Royalton, Vt. Rhode Island Central Bank, E. Greenwich, R. I. Farmers' Bank, Wickford, R.I. Mount Vernon Bank, Providence, R. I. Tiverton Bank, Tiverton, R.I. Wooster Bank, Danbury, Ct. Commercial Bank, Perth Amboy, N.J. Bergen, County, N.J. Sacketts Harbor (or Reciprocity.) Buffalo Hollister Bank, Buffalo. Chemung County Bank, Horseheads.


Article from The Star of the North, September 16, 1857

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Broken Banks. The following is a list of banks that are said to have either failed or suspended, which the public would do well to refuse until something more definite is known about them: Rhode Island Central Bank, East Greenwich. Tiverton Bank, Tiverton, R. I. Farmers' Bank, Nickford, " Warren Co. Bank, Warren, Pa. Kanawba Bank, Virginia. Hancock Bank, Maine. Waverly Bank, Waverly, N. Y. Winstead Bank, Winstead, Ct. Farmers' Bank, Saratoga, N. Y. Henesdale Bank, Pa. Mercantile Bank, Ct. Perth Amboy Bank, N.J. Woosters Bank, Ct. Chemung Co. Bank, Horseheads, N. Y. Hollister Bank, Buffaloe, N.Y. Owego Bank, N. Y. Buffaloe City Bank, N. Y. Reciprocity Bank, " White, Oliver, Lee & Co.'s Bank, Buffaloe N. Y. Farmers' Bank of Providence, R. i.


Article from The Star of the North, September 16, 1857

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Broken Banks. The following is a list of banks that are said to have either failed or suspended, which the public would do well to refuse until something more definite is known about them: Rhode Island Central Bank, East Greenwich. Tiverton Bank, Tiverton, R.I. Farmers' Bank, Nickford, " Warren Co. Bank, Warren, Pa. Kanawba Bank, Virginia. Hancock Bank, Maine. Waverly Bank, Waverly, N.Y. Winstead Bank, Winstead, Ct. Farmers' Bank, Saratoga, N. Y. Honesdale Bank, Pa. Mercantile Bank, Ct. Perth Amboy Bank, N. J. Woosters Bank, Ct. Chemung Co. Bank, Horseheade, N. Y., Hollister Bank, Buffaloe, N. Y. Owego Bank, N. Y. Buffaloe City Bank, N. Y. C Reciprocity Bank, White, Oliver, Lee & Co.'s Bank, Buffaloe N.Y. Farmers' Bank of Providence, R. I.


Article from New-York Daily Tribune, January 20, 1858

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The Directors are: Amos P. Stanton, President; Seymour L. Husted, William H. Cary, John Kellum, George S. Howland, Thomas Brooks, Alexander Studwell, John Schenck, Fisher Howe, Purcell Cook, Lowell Holbrook, Chas. C. Betts, Henry A. Kent. The Mechanics', Long Island, City, Atlantic, Brooklyn, and Williamsburgh City Banks, all of Brooklyn, have sent in a communication to the Common Council of that city, stating that they cannot afford to pay any longer. the rate of interest at present allowed on the city deposits. They offer to pay hereafter interest on the average balances at the rate of 3 p cent per annum. We understand that the Rhode Island banks have completed their arrangements with the Suffolk Bank, Boston, for redemptions upon the same terms as the banks of the other New-England States. The notes of the Rhode Island banks will, no doubt, in few days be received at the Metropolitan Bank. The bills of the Hollister Bank are redeemed by the Receiver at Buffalo; those of the Agricultural and Dairymen's Banks by the Receiver at Herkimer, the difference of exchange being charged to the holder. Messrs. Thempson Bros., No. 2 Wall street, quote Currency, Land Warrants, &c., this week as follows:


Article from New-York Daily Tribune, July 8, 1858

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Philade Ipbia Banks with those of last week: June 28. July 5. $24,311 928 Inc $251,220 Loans $24,060,708 6,635,877 Dec. 28,804 6,664,681 Specie 4,064 Dec. 1,710,653 1,714,717 Due from other Banks 2,986,297 Dec 125,671 3,111,963 Due to other Banks 170,717 Inc 16,556,556 16,386,129 D. posits 144,929 2,434,181 Inc Circulation 2,289,252 The movement of the banks in the four principal cities of the Union, in which weekly reports are made, as shown by their last statements, is as follows: Circula'n. Specie. Loans. Deposits. 7,458,190 88 535 288 33,830,282 N. York, July 6 $119.812,407 5,313,000 9,104,500 21,570,800 55,808,500 Boston, July 6. 2,434,181 6,685,877 16.536,816 24,311,528 Philadelphia do 7,823,034 10,428,080 15,676,134 N.-Orlane, June 26 12,390,984 59,993,689 24,028,405 142,859.063 Total $212,323,819 210,088,832 139,058,311 57,941,227 22,781,785 Last week The circulating notes of the Delaware Bank of Delhi, N. Y., will be redeemed at par at the Metropolit in Bask. The Bank Department has authorized the Commercial Bank of Albany to redeem the bills of the Hollister Bank of Buffalo. The Receiver of this bank is also prepared to pay the creditors of the bank dividend of 20 P cent at Buffalo. Mr. Berj. Cartwright, who has been for twenty years connected with the City Bank of this city, has been elected Assistant Cashier of that institution. Mr. Viecher Ten Eyek has been elected Cashier of the Commercial Back of Albany, vice Powers L. L Green, deceased. These have been considerable further sales of Treas ury Notes at 1.10 to 2.10 โ‚ฝ cont premium for the 4 1/2 @13 P cents. The tolls received upon all the canals of this State for the present season were 88 follows: $72,564 74 Tolls received during the 4th week in June, 1858 89,795 50 Tulls received during the 4th week in June, 1857 $17,230 Decrease in 1858 $281,980 71 Tells received during the month of June, 1858 323,818 86 Tolls received during the month of June, 1857 $21,888.15 Decrease in 1858 Tells rec'd from opening of navigation to July 1, 1858. $638,215 19 Tells rec'd from openinh of navigation to July 1, 1857. 521,162 SO $115,652 Increase in 1858 The amount received for toll on all the canals during the fourth week of June, and to the 1st of July, in the years given below, is as follows:


Article from The Daily Gate City, September 3, 1858

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What we are Coming to. The following item which we clip from the New Yorh Tribune, gives an inkling of the effect of the "tight times" on cash sales in the East, and furnishes a melancholy indication of similar sacrifices yet to be endured in the West: Mr. Alanson Robinson, Receiver of the Hollister Bank of Buffalo, sold on Tuesday a large amount of notes, bonds, mortgages, judgments, real estate, &o., belonging to the bank. The sales were made for cash down, and amounted in the gross to $16,067 45.Many of the claims such as notes and judgments, to the amount of about one hundred thousand dollars, brought less than three per cent. on the dollar. A mortgage of $2,150, secured on the farming lands of Grand island, sold for $1,700, and others in the same proportion. The Receiver's adjusted claims against the bank were taken as cash in payment for bills. The sale of real estate. under the circumstances, brought fair prices, although the gross amount of sales, for so large a share of its nesets, must be anything but flattering to the stockholders.


Article from New-York Daily Tribune, September 8, 1859

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The effects of the Holliston Bank were sold at Baffalo, on Monday, by order of the Receiver. The Buffalo Commercial says: "The face value of the effects sold was $89,500, but the total receipts amount to but $10.919. Most of the effects sold consisted of ordinary debts, judgments, etc.; and only two mortgages were disposed of. John F. Stafford's bord and mortgage for $3,000 brought $750, and became the property of Gibson T. Williams. Charles E. Clarke's bond and mortgage for $2,000 was bought by A. J. Rich for $650; 268 shares of Western Transportation stock were sold to G. Clapp of New. York for 20 cents on the dollar." There was an adjourned meeting yesterday of the Chattel mortgage bondholders of the Williamsport and Elmira Railroad Company at Philadelphia. The committee appointed at a previous meeting to confer with the officers of the Company, reported that they had attended to that duty, and found that the first mortgage bondholders were endeavoring to effect an amicable arrangement looking to the best interests of all parties. The propositions not having been so far consummated 88 to warrant 8 conclusion on the part of the committee, further time was asked and granted by the meeting It was stated during the conversation at the meeting that the chattels of the Company cost about $380,000, and are probably worth now a half or two fifths the nominal amount of the mortgage. It is also understood that the first mortgage bolders concere the right of the chattel mort. gage bolders to the chattels, and are willing in an amicable arrangeme looking to a reorgamization of the Company, to take the chattels at their appr value. An as journed meeting of the first mortgage b >ndholders was to be held at the Exchange on Wednesday, and of the second mortgage bondholders at the same place on Tbursday. The formal opening of the Burlington and Missouri River Railroad was celebrated with approprite enthusisem by the citizens of Burlington and Ottumwa, Iowa, on Thursday, Sept. 1.


Article from The New York Herald, March 6, 1860

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Assembly. ALBANY, March 5, 1802. A bill to authorize the formation of gas and water companies was reported favorably. Mr. ร€. A. MEYERS gave notice of a bill to incorporate the New York and Brookiyn Can Company. Mr. J. M. SMITH of a bill to authorize the Boards of Supervisors to abolish the office of School Commissioner. BILLS INTRODUCED. By Mr. BOWMAN - TO repeal the act of 1866 to provide for a more thorough supervision and inspection of COMmon schools. By Mr. JACQUES -TC incorporate the New York Passenger and Package Line Company. It incorporates R. No. Fairchild, A. H. Barney, J. M. Humphrey, W. G Farge and A. G. Williams, with a capital of fifty thousand clublars, to run vehicles from steamboat and railroad lan issues to any part of the city, By Mr C. KKiBKy-To authorize the construction of a railroad from Lexington avenue to Park row. The incomporators are Richard L Suydam, John Riley, William M. Lummis and W. W. Fowler. By Mr. Fasher-To authorize the establishment of a borse railroad in Bedford avenue, De Kalb avenue and other streets to Brooklyn. By Mr. CALLIOOT-To authorize the building of a court house in Kings county. It authorizes the treasurer 16 borrow one hundred thousand dollars, and to issue board By O. ALLEN-TO authorize the receiver of the Recipre. city Bank, in Buffaio, to compromise and settle with any stockbolders of the bank, in or out or the State, for say judgment recorded against them By Mr. DWIGHT-In relation to libel. It provides that exemplary or vindictive damages shall only be recovered on the proof of malice. The jary may determine the amount of the damages by a libel without a production of proof. By Mr. MOQUADE-For the protection of boarding house keepers. It gives them them the same lien OR bagrage and effects as inn keepers have Mr. A. SMITH offered a resolution to appoint a committee, with Samuel A. Law as chairman, to inquire into the revenues and management of canals, and to report OR all matters by which a stricter economy can be enforced. Lad over. The Albany and Susquehanna Railroad bill was made the special order for Friday next. The Personal Liberty bill was made the special order for Wednesday next week. Mr. FINCH called up the resolutions requiring Informa tion of the Comptroller of the financial condition of the State, the amount of taxation necessary, &c. Adopted Mr. ELLSWORTH moved for a report from the Receiver . the Hollister Bank in Buffalo, of all matters relating to w bank since his appointment Adopted. Also concurrent resolutions calling on Congress form prompt payment of all revolutionary debts, pensions and claims. Laid over. The bill to authorize the consolidation of the Brookiys Central and Jamaica railroads was recommitted.