In a shocking turn of events, the administration of the Canal Bank was left reeling after the arrival of the steamer, JJ Transactions, from the United States. The vessel’s cargo of dry goods was met with laughter and incredulity by officials, who had expected a shipment of much-needed specie to alleviate the bank’s financial woes. Mr. Hays, a director of the bank, claimed that M. Corcoran, a prominent merchant, had failed to deliver a million dollars in specie on the Britannia, as promised.
Related Federal Cases
Key Facts
- State: National
- Category: Fraud & Financial Crimes
- Era: Historical
- Source: Library of Congress — Chronicling America ↗
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