10584. J. J. Anderson & Co. (Saint Louis, MO)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
private
Start Date
September 28, 1857
Location
Saint Louis, Missouri (38.627, -90.198)

Metadata

Model
gpt-5-mini
Short Digest
c0205e5f

Response Measures

None

Description

Multiple contemporary papers (late Sept 1857) report J. J. Anderson & Co., bankers of St. Louis, suspended specie payments on Sept. 28/29, 1857. Articles attribute the action to the broader banking panic triggered by suspensions in Philadelphia and Baltimore (systemic pressure on specie). Several reports state the suspensions were expected to be temporary and that the houses 'will re-open' or 'will resume' soon; no explicit firm reopening date is given in these articles. No discrete depositor run on this specific firm is described.

Events (1)

1. September 28, 1857 Suspension
Cause
Macro News
Cause Details
Suspension occurred amid the wider financial panic/chain of suspensions (Philadelphia, Baltimore and other northern banks) and pressure on specie payments; firms suspended to protect liquidity/discount local paper as part of the general crisis.
Newspaper Excerpt
J. J. Anderson & Co., and Darby & Barksdale, Bankers of St. Louis, have suspended.
Source
newspapers

Newspaper Articles (10)

Article from Wheeling Daily Intelligencer, September 28, 1857

Click image to open full size in new tab

Article Text

The paper of an Iron House and a Shoe & Leather house, went to protest, and J. B. Holmes manufacture, has made an assignment. None of them are insolvent however. J. J. Anderson & Co., and Danby & Barksdale, Bankers of St. Louis, have suspended. The Nashville Bank of Nashvill, Tenn., has suspended


Article from Wheeling Daily Intelligencer, September 28, 1857

Click image to open full size in new tab

Article Text

escaped, but subsequently drowned gether with his family. BANK EX ITEMENT. PITTSBURGH, Sept. 28. -The excitement relative to the Banks is subsiding. This morning the Mechanics Bank suspended specie payment on all notes. [SECOND DISPATCE] Although the Pittsburgh Banks have suspended, at a meeting of the Executive offivers of the Banks, to day, they addopted resolutions that temporary suspension of payment of specie was necessary to protect business men, enabling the Banks to discount local paper and exchange. That the Cashiers of the respective Banks, are pre-emptorily instructed by the Board, to re sume when a similar action is adopted by the Eastern Banks. Excitement nearly subsided. PHILADELPHIA, Sept. 28.-It is understood that the Governor will issue a proclamation tomorrow, calling the legislature together on the first Tuesday in October, to take action on the Bank suspensions. [SECOND DISPATCH] There is no concert of action among the Banks. They commenced paying five dollar bills, but 11 o'clock the bank of North America, which previously redeemed all notes, suspended specie payment. The same course will now become universal. The Philadelphia Bank suspended specie payment, but redeemed checks with notes. PHILADELPHIA Sept. 28-The Governor has not decided about the proclamation. Much ill-feeling between the banks. ALEXANDRIA, VA., Sept. 28.-The Banks are paying out small sums of specie only. WASHINGTON, Sept. 28.-A notice posted on the bank of the Metropolis, says that the panic created by the suspension of other banks, hav. ing caused much larger demand for specie than was anticipated, that institution is under the painful necessity of suspending specie payments for the present. The trustees remarked that they will make every exertion to resume, and that the bank paid out $65,000 on Saturday.The Bank of Washington and Patriotic Bank. which paid only small sums on Saturday, have not altogether suspended. The Savings Banks pay either in City Bank or Virginia money, and demand the six days notice from depositors.Virginia money is at a discount of 0 per cent, and the tendency is still downward. Business nearly paralized. Money unsaleable, BOSTON, Sept. 28,-Jewett & Co., publishers of this city, have suspended. Their liabilities are $100,000. BOSTON, Sept. 28.-The Suffolk Bank refuses to redeem the bills of the New England county Banks. NEW YORK, Sept. rumored failures of Clark, Dodge & Co. and Phelps, Dodge & Co., is entirely false. Exchange on Philadelphia ten per cent per month. The assignment of the Ohio Trust Co. is expected. President Stetson returns to Cincinnati to-morrow to procure a stay of proceedings. The Metropolitan, Republic and Merchants Bank of New York, Mechanics American, Exchange, Union and Phoenix Banks have issued circulars assuring the public of their ability and determination to sustain a specie basis for their circulation, and expressing an opinion that the tendency of specie and produce to this point will soon relieve the Banks of the present pressure. NORFOLK, Va., Sept. 28.-Some feeling is manifested here about the Baltimore and Philadelphiá suspensions, but the Banks, so far, have remained firm. CINCINNATI, Sept. 28.-The excitement consequent upon the continued vorable advices from the east, paralized business, and the atten* tion of business men is entirely turned from the ordinary rotine, to the absorbing question of the Intest news from the east. The banking houses continue to quote New York exchange at par, but only small amounts can be purchased at this rate, sums of 5,000 and upwards cannot be bought at less than five per cent premium. No paper can be negotiated, so that it is useless to give quotations. The paper of an Iron House and a Shoe & Leather house, went to protest, and J. B. Holmes manufacture, has made an assignment. None of them are insolvent however. J. J. Anderson & Co., and Danby & Barksdale, Bankers of St. Louis, have suspended. The Nashville Bank of Nashvill, Tenn., has suspended. NEW YORK, Sept. 28.-The money market is very stringent, but banks remain firm in their position. Some very heavy failures are reported here. Advices from Albany mention a run on the Savings department. RICHMOND, Sept. 28-The banks are paying specie, and it is generally believed that they have determined to go on. There is no run as yet. Both of the Staunton banks, the Central Bank, and the Bank of the Valley have all suspended BALTIMORE 11 P. M.-No material change has occurred in money matter to-day. The banks in some instances redeemed their 5's as a matter of accommodation. Specie commands a premium of seven to ten per cent on exchange for Balt funds. AGUSTA, GA.-The Banks of North and South Carolina and Georgia are all right. The question of suspension is not entertained. YELLOW FEVER. WASHINGTON, Sept. 28.-Several cases of yellow fever at Key West and one death. The origin of the decease is from admitting seamen


Article from Nashville Union and American, September 29, 1857

Click image to open full size in new tab

Article Text

ut RA. PITTSBURG, Sept. 26.-The Bank excitement is subsiding. The Mechanic's Bank has suspended specie payment. PHILADELPHIA, Sept. 28. understood that the'Governor will call the Legislature together on the d first Tuesday in October, to take action on the bank suspensions. RICHMOND, Sept. 28.-No bank suspension yet. The Northern suspensions cause much excitement. WASHINGTON, Sept. 28.-Several cases of Yellow Fever have occurred at Key West. ST. JOHNS, N.B., Sept. 28.-The screw steamer Jura arrived with London dates of the 15th. Consols 901; money more stringent: wheat active and firm; corn active and steady; flour buoyant. PHILADELPHIA, Sept. 28.-There is still no concert of action among the banks. They paid specie on five dollar bills till 11 o'clock, when the North American Bank suspended. The suspension is now expected to be universal. The Philadelpeia Bank has suspended. ALEXANDRIA, Va., Sept. 28.-The banks are paying ecie on small notes only. WASHINGTON, Sept. 28.-The Metropolitan Bank has suspended. The Washington and Patriotic Banks are still paying small bills. SAVANNAH, Sept. 28.-The banks demand the six days notice from depositors. Virginia bills 5 per cent discount. BOSTON, Sept. 28.-Jewett & Co., publishers have suspended. ST. JOHNS, Sept. 28.-The steamer City of Washington arrived out on the 16th. The Emperor Alexander arrived at Berlin. The Cholera is raging at Hamburg, Stockholm, and other places, proving very fatal. The Bank of Holland has increased rates to 5 per cent. The election in the Principalities resulted favorable to the Union. The India mail has arrived. Delhi, 29th.Several sorties were made, but repulsed with great loss to the Rebels, 500 killed and wounded. The Nemuch mutineers reach Delhi Gen. Nicholson was daily expected from Punjaub with reinforcements. Gen. Harelock occupied Bepho on the 17th without resistance. Lena Sahib escaped on the 29th. Harelock defeated 10,000 Rebels on the road to Lacknow-British loss trifling. NEW YORK, Sept. 28.-There is a panic in the stock market. PHILADELPHIA, Sept. 28.-Business is deranged by the vacillating course of the banks. ST. LOUIS, Sept. 28.-J. J. Anderson & Co., and Darby & Barksdale Bankers have suspended. NEW ORLEANS, Sept. 28.-Cotton sales 400 bales, easier. Receipts 8800 bales. Flour $5,50a 6,00; Corn 70c.; nothing doing in freights; other articles unchanged; Exchange nominal. Deaths during the week 103. NEW YORK, Sept. 28.-Further Foreign news. Hyderabad was quiet on the 14th of August. It was reported that Delhi would soon fall. Generals Harelock and Neil were advancing upon Lucknow. Three regiments of Bengal native Infantry revolted and fled to Reeve river. They were pursued by Gen. Floyd and 800 of the mutineers killed. The mutineers also were routed at Juibalfore and other places. Mutineers plots were discovered at Borores and Hamulock. Sir Colin Campbell has assumed command. Nena Sakibs attrocities at Cawnfore beggar description. He massacreed 400 persons, including 70 women and 120 children. The Court yard fronting his head quarters was swimming with blood. Sahib escaped, but subsequently drowned himself and family. NEW YORK, Sept. 28.-There is no truth in the reports of the failure of Clark, Dodge & Co. and Phelps, Dodge & Co. The Metropolitan, Republic, Merchants, Mechanics, American Exchange, Union and Phoenix banks have issued circulars stating their intention to maintain the specie basis. The Norfolk and Richmond banks are firm. The Staunton Bank and the Bank of the Valley of Virginia have suspended. NEW YORK, Sept. 28.-Money very stringent.The banks are firm. Some very heavy failures are reported. ALBANY, Sept. 28.-There has been & run upon the Savings Bank by small depositors. for BOSTON, Sept. 28.-The Suffolk Bank refuses to redeem the bills of New England country banks. NEW YORK, Sept. 28.-Cotton dull; flour 5 10a 5 25; wheat declined 6 to 10 cents; corn offered at 70c; mess pork declined 10c; Chicago beef declined 25c; bacon, 12 for hams, 11 for shoulders; whisky 24, coffee quiet; sugar heavy. PITTSBURG, Sept. 28.-Every bank except the Pittsburg bank have suspended. The officers of the hanks adopted a resolution that emporary suspension of coin was necessary to proect business men. The excitement has nearly snbsided. CINCINNATI, Sept. 28.-Business paralyzed.Exchange on the East in sums of $5000, five per cent. Negotiable paper unavailable. Flour unsettled; wheat nominal. J. B. Holmas, manufacturers have assigned.Other failures are reported, but names not disclosed. Fever and Ague.-Foremost among the various re medies for this disease stands Dr. Shallenberger's Antidote. few doses will cure any ordinary case, ao one dose invaribly stops the chills. It contains nothing in the least degree urtful to the system under any circumstances, and never prounplesant effects that sttendthe


Article from Daily Nashville Patriot, September 29, 1857

Click image to open full size in new tab

Article Text

BY THE NATIONAL LINE. [Reports Furnished by the Associated Press.] NEW ORLEANS, Sept. 26. Our Banks and Merchants are impregnable, and are in no sort of danger. PITTSBURG, Sept. 28.-The Bank excitement is subsiding. The Mechanics' bank has suspended specie payment. Philadelphia, Sept. 28.-It is understood that the Governor will call the Legislature together on the first Tuesday in October, to take action on the bank suspension. RICHMOND, Sept. 28.-No bank suspensions yet. The Northern suspensions cause much excitement. WASHINGTON, Sept. 28.-Several cases of yellow fever have occurred at Key West. PHILADELPHIA, Sept. 28.-There is still no concert of action among the banks. They paid specie on five dollar bills till 11 o'clock, when the North American bank suspended, The suspension is now expected to become universal. The Philadelphia bank has suspended. Alexandria, VA., Sept. 28.-The banks are paying specie on small notes only. WASHINGTON, Sept. 28.-The Metropolis bank has suspended. The Washington and Patriotic banks are still paying small bills Savannah, Sept. 28.-The banks demand the six daysnotice from depositors. Virginia bills five per cent. discount. Jewett & Co., publi-hers, have suspended. Sr. JOHNS, N. B., Sept. 28.-The screw steamer Jura has arrived with London dates of the 15:h. Consols 901. Money more stringent. Wheat advanced and firm. Corn active and steady. Flour buoyant ST. JOHNS, Sept. 28 -The steamer City of Washington arrived out on the 16th. The Emperor Alexander had arrived at Berlin. The cholera is raging at Hamburg, kholm and other places proving very fatal. The Bank of Holland has increased rates to 5 per cent. The election in the Principalities resulted favorable to the Union. The India mail has arrived with Delhi dates to the 29th. Several sorties were made, but , puls d with great loss to the rebels; 500 killed and wounded. The Nemuch mutineers reached Delhi. Gen. Nicholson was daily expected from Punjaub with reinforcements. Gen. Havelock occupied Bepho on the 17th without r. sistance. Lena Sahib escaped on the 29th. Havelock defeated 10,000 rebels on the road to Lucknow. British loss triffing. NEW YORK, Sept. 28.-There is a panie in the stock market. Philadelphia, Sept. 28.-Business is deranged by the vacillating course of the banks. ST LOUIS, Sept. 26.-J. J. Anderson & Co., and Darby & Barksdale, Bankers, have suspended. NEW ORLEANS, Sept. 28 -Cotton, sales 400 bales -easier; Receipts 8300 bales; Flour $5 50 to 6 00; Corn 70; nothing doing in freights; other articles unchanged; Exchange nominal. Deaths during the week 103. FURTHER FOREIGN NEWS. NEW YORK, Sept. 28.-Hyderabad was quiet on the 14th of August. It was expected that Delhi would soon fall. Gens. Havelock and Neil were advancing upon Lucknow. Three regiments of Bengal native infantry revolted and fled to Reeve river. They were pursued by General Floyd, and 800 of the mutineers killed. The mutineers also were routed at Juibalpore and other places. Mutineer's plots were discovered at Benares and Hamulock. Sir Colin Campbell has assumed command. Nena Sahib's attrocities at Cawnpore beggar description. He massacred 400 persons, including 70 wolden and 120 children. The Court-yard fronting bis head-quarters was swimming with blood. Sahib escaped, but subsequently drowned himself and family. NEW YORK, Sept. 28 -There is no truth in the reports of the failure of Clark, Dodge & Co., and Phelps, Dodge & Co. The Metropolitan, Republic, Merchants', Ameri C D Exchange, Union and Phoenix banks have issued circulars stating their intention to maintain a specie basis. The Norfolk and Richmond Banks are firm. The Staunton bank and bank of the Valley of Virginia have suspended. NEW YORK, Sept 28.-Money very stringent. The Banks are firm. Some very heavy failures are reported. ALBANY, Sept. 28 There has been a run upon the Savings bank by small depositors. BOSTON, Sept. 28-The Suffolk bank refuses to redeem the bills of New England county banks NEW YORK, September 28, P. M.-Cotton is dull. Flour $5 10 to $5 25 Wheat has declined 6 to 10 cents. Corn is offered at 70 cents. Park has declined 10 cents. Chicago Beef has declined 25 cents Bacon, 12c. for hame, and ile. for shoul ers. Whisky, 24c. Coffee quiet. Sugar heavy. PITTSBURG, September 28.-Every bank except the Pittsburg Bank, have suspended. The officers of the banks adopted & resolution to the effect that a & mporary su-pension of the payment of coin was necessary to protect business men. The excitement has nearly subsided, CINCINNATI, September 28. Business is paralized. Exchange on the East, in sums of $5000, is


Article from The Daily Dispatch, September 30, 1857

Click image to open full size in new tab

Article Text

PRICE ONE CENT. eboral discount have had to be endured. As thing, the banks are evidencing a CO1 nmend le degree of unanimity in endeavoring to mitigate the adverse influence of the suspension. Nearly, if not all the banks paid out specie yesterday in small sums, when the wants of the applica nt were known to be urgent and made in good faith. SUBTENSIONS AT ST. LOUIS. Dailey & Barksdale and J. J. Anderson & Co., of St. Louis, suspended Monday morning. Both firms are extensive bankers. Mr. Anderson is also owner of the Bank of St. Louis, recently estriblished under the new banking law. He is understood also to have been principal owner of the Rhode Island Central Bank, recer tly failed. These failures produced a great flutte. ing, having been totally unexpected. There is much excitement also in the city and state of Missouri, in consequence of the bank suspensions at Phila lelphia and Baltimore. FAILURE OF A TENNESSE E BANK-EXCITEMENT AT LOUISVILLE. Intelligence has re ached Louisville, Kentucky, that the Bank of Nashville has failed, and made an assignment. The brokers of Louis ville now refuse all issues of the Tennessee Banks. There is great excitement in financial circles in consequence of the recent developments, and the curre ncy market is in a state of utter confusion. The notes of the old State banks of Missouri command a premium here of one per cent. SUSPENSION OF THE RHODE ISLAND BANKS. It is learned that all the Rhode Island banks have suspended specie payments. PROVIDENCE, Sept. 28.-The following are the names of the banks of this city which suspended to-day: The Arcade, American, Atlantic, Bank of America, Bank of Commerce, Atlas Bank, Bank of North America, Bank of the Republic, Blackstone Canal Bank, Butchers' and Drovers' Bank, City Bank, Commercial, Continental, Eagle, Exchange, Globe, High Street, Jackson, Liberty, Lime Rock, Marine, Manufacturers', Mechanics', Mechanics' and Manufacturers', Mercantile, Merchants', Mount Vernon, National, Northern, Pawtucket, Phenix, Providence, Roger Williams, Traders', Union, Westminister and What Cheer and Weybosset Banks. All the other banks in the State are reported as having followed the example and suspended. Their liabilities to the public are not over a quarter of their capital.


Article from The Daily Gate City, September 30, 1857

Click image to open full size in new tab

Article Text

The bills of the Hopkinton Bank of Rhode Island are refused at the Suffolk Bank. Philadelphia, Sept. 28.-The Governor has not decided between the banks, and there is a pressure for and against calling a special session. The silk house of Messrs. Curtise & Co., on Chestaut street, has been robbed of eight thousand dollars. There is still no concert of action among the banks. They commenced paying five dollar bills, but at 11 o'clock the North American Bank, which had previously redeemed all notes, suspended specie payments, and the course will now become universal. NEW YORK, Sept. 28.-The money market is very stringent, but the banks remain firm in their position. Some very heavy failures are reported. Advices from Albany mention a run upon the Savings Department by small depositors. There is no pressure clsewhere, and the bill-holders and banks are quiet and confident. Rumored Failures.-Clarke, Dodge & Co. and Phelps, Dodge & Co., entirely untrue.Exchange on Philadelphia 10 per cent. Rates for money on street, some cases 6 per cent. per month. The Metropolitan, Republic and Merchants Bank of New York, Mechanic, American, Exchange, Union and Poenix banks have issued circulars assuring the public of their ability and determination, to maintain a specie basis for their circulation, and exp: essing the opinion that the tendency of specie and produce to this point will soon relieve the banks of the present pressure. NORFOLK, Sept. 28.-Some feeling is manifested here about the Baltimore and Philadelphia suspensions, but the banks so far have remained firm. CINCINNATE, Sept. 28.-The excitement consequent upon the continued unfavorable advices from the east paralyze business and the attention of business men is entirely turned from the ordinary routine to the all absorbing question of the latest news from the East. The paper of an iron and shoe and leather establishment went to protest, and J. H. Holmes, Manufacturer, has made an assignment. None of them, however, are insolvent. J. J. Anderson & Co., and Darby & Barksdale, Bankers of St. Louis, have suspended. The Nashville Bank, of Nashville, Tenn., has also suspended. The Bank of Washington and Patriots Bank, which paid only small sums en Saturday, have now altogether suspended. The Savings Banks pay either in City Banks or Virginia money, and demand the6 days notice from depositors. Virginia money is at a discount of 5 per cent., and the tendency is still downward.


Article from The Daily Gate City, September 30, 1857

Click image to open full size in new tab

Article Text

The bills of the Hopkinton Bank of Rhode Island are refused at the Suffolk Bank. Philadelphia, Sept. 28.-The Governor has not decided between the banks, and there is a pressure for and against calling a special session. The silk house of Messrs. Curtise & Co., on Chestmut street, has been robbed of eight thousand dollars. There is still no concert of action among the banks. They commenced paying five dollar bills, but at 11 o'clock the North American Bank, which had previously redeemed all notes, suspended specie payments, and the course will now become universal. New YORK, Sept. 28.-The money market is very stringent, but the banks remain firm in their position. Some very heavy failures are reported. Advices from Albany mention a run upon the Savings Department by small depositors. There is no pressure clsewhere, and the bill-holders and banks are quiet and confident. Rumored Fuilures.-Clarke, Dodge & Co. and Phelps, Dodge & Co., entirely untrue.— Exchange on Philadelphia 10 percent. Rates for money on street, some cases 6 per cent. per month. The Metropolitan, Republic and Merchants Bank of New York, Mechanic, American, Exchange, Union and Poenix banks have issued circulars assuring the public of their ability and determination, to maintain a specie basis for their circulation, and exp: essing the opinion that the tendency of specie and produce to this point will SOOD relieve the banks of the present pressure. NORFOLK, Sept. 28.-Some feeling is manifested here about the Baltimore and Philadelphis suspensions, but the banks so far have remained firm. CINCINNATE, Sept. 28.-The excitement consequent upon the continued unfavorable advices from the east paralyze business and the attention of business men is entirely turned from the ordinary routine to the all absorbing question of the latest news from the East. The paper of an iron and shoe and leather establishment went to protest, and J. H. Holmes, Manufacturer, has made an assignment. None of them, however, are insolvent. J. J. Anderson & Co., and Darby & Barksdale, Bankers of St. Louis, have suspended. The Nashville Bank, of Nashville, Tenn., has also suspended. The Bank of Washington and Patriots Bank, which paid only small sums en Saturday, have now altogether suspended. The Savings Banks pay either in City Banks or Virginia money, and demand the6 days notice from depositors. Virginia money is at a discount of 5 per cent., and the tendency is still downward.


Article from The Davenport Daily Gazette, October 1, 1857

Click image to open full size in new tab

Article Text

LATEST NEWS. The Financial Crists of the East and South. NASHVILLE, TENN. Sept. 28. The Bank of Nashville suspended this morning. A meeting of the merchants recommended the Union, Planters, and State Banks to suspend, but they refused. Several free banks are thrown out to day. Confidence is felt that the Bank of Nash ville will pay and have a large surplus. PHILADELPIA, Sept. 28. Bank affairs are settling on the low specie basis. The Banks are preparing to issue small notes. The Pensylvania bank notes are to be received at the other banks tomorow. Believing that the interests of the comand the State will be subserved the agreed to restore the munity thereby, presidents bank of the of Pensylvania banks have to a position at the clearing house, and toreceive its notes and discount liberally for their customers. Had this been done BOOD er, there would have been no suspensions. Sr. Louis, Sept. 28. The Banking houses of Darby & Barks dale and J.J. Anderson & Co., suspended this morning Bogy, Miltenberger & Co., bankers, closed their doors this morning. Assets sample. Cards signed by a large number of the wealthiest citizens are published, guaranteeing the solvency of Lucas & Co., and Renick & Peterson, and assuring depositors of the safety of their deposits. mind is very and there a run on the The is public general unsettled brokers. The banks stand firm and are discounting liberally PROVIDENCE, Sept. 28. The banks of Providence have resolved to suspend specie payments. The liabilities of the banks are not over 25 per cent of their capital NEW YORK Sept. 28. "The weekly bank statement shows the following result : decrease In loans, $982, 000 decrease in specie, $229,000; decrease in deposits, $933,000; decrease in circula tion $235,000. PITTSBURG, Sept. 28. All the banks of this city with the ex ception of the Pittsburg have suspended, but will resultive when similar action is adopted by Eastern banks. TRENTON, N.J., Sept. 29. The Backagton, Cumberland and Selam banks are reported to have suspended. banks, the The East Jersey including effected. Trenton are more immediately Business complain that if none of our banks discount. it will seriouly effect them. 10 O'CLOCK P. M. REPORT. Sr. Louis, Sept. 29. in this city upon runs The bankers and whom promptwere made this morning, freely ly met all checks, confidence is restored. The excitment is almost entriely subsided. cause of suspension & Co., was the of The Miltenberger immediate non-arrival of Bagy, coin in transitu. The probabilities are that they will re-open to-morrow. of Anderson & Co., and Darby & exceeded The Barksdale, assets largely their will resume liabilities. The presumption is they in a very short time. PHILADELPHIA, Sept. 59. and Southwark Banks are payon their notes ing The specie City small of yesterday. notwithstanding their agreement are recieving the notes in excepting the of bank place They A deposit, meeting NEW Presidents After York, Pennsylvania. of other Sept. took consulta- banks 29 at 3 o'clock this P. M. a tion it was agreed to recommend all City banks to extend their discount line three per cent during the coming week. This in the aggregate will amount to over three million dollars. Forty out of the fifty-five hanks were represented at the meeting. GEORGETOWN, D.C.29. of Commerce, to redeem apeThe continued Bank its Georgetown, issue in come into an cie, which has arrangement with pay- the District banks, and suspended specie ment altogether. The Farmers' and Mechanics' Bank in Georgetown has also sua pended. NORFOLK, Vs. Sept. 29. All the banks here continue firm.


Article from Orleans Independent Standard, October 2, 1857

Click image to open full size in new tab

Article Text

There is much excitement here touching the Bank suspensions at the North, I and some uneasiness among our small dealers, but no intimation of suspension. Our Banks paid all demands up to 1.30. RICHMOND, Sept. 28. Our Banks generally are paying specie, and it is understood they have determined to go on. There has been no run upon them as yet. Both the Banks in Staunton have suspended. The Virginia Banks have all resolved to pay specie. Abbott, Dodge & Co., a Southern flour and produce house, suspended in the morning. Other failures to immense amounts were rumored, but were without foundation. The Banks closed firm. The demand on them has been moderate, and they have determined not to suspend. They refuse to take on deposit the notes of all the suspended Virginia Banks. The Monticello Bank of Charlotteville suspended to-day. It is reported that all the Banks in the State, west of Lynchburg, have suspended. NORFOLK, Sept. 28. Business matters here are firm thus far. There have been no suspensions. Apprehensions are felt of a run to-morrow, by foreign brokers, but the Bauks feel secure. WILMINGTON, N. C., Sept. 28. There is no excitement here. Our banks are perfectly sound, and continue on as usual : but their future action will be governed by that of our neighbors. ST. LOUIS, Sept. 28. Messrs. Darley & Barksdale and Messrs. J. J. Anderson & Co. suspended payment this morning. There is much excitement in this city and State in consequence of the bank suspensions in Philadelphia and Baltimore. The houses announced above as suspended were heavy bankers. Messrs. Anderson & Co. are also owners of the Bank of St. Louis and a concern recently established under the new Banking law. They are understood also to have been the principal owners of the Rhode Island Central Bank, which failed some time sinceThese failures have produced immense fluttering, as they were totally unexpected. LOUISVILLE, Sept. 28. Dispatches have just reached this city announcing that the Bank of Nashville has suspended specie payments, and made an assignment. Brokers now refuse all issues of Tennessee banks. There is great excitement in financial circles in consequence of recent developments, and currency market in the State is in utter confusion. Notes of the old State Bank, Missouri, command premium here of one per cent. PROVIDENCE, Sept. 28. The banks of Providence have resolved to suspend specie payment. At the meeting to-day thirty-one banks voted to suspend, nine voting against it. The e liabilities of the banks to the public are not over 25 per cent. on their capitals. e, An injunction was issued to-day upon the Hopkinton Bank, and Nathan F Dixon was appointed Receiver. There in can be no loss to the holders of ne bills. WASHINGTON, Sept. 28. The Bank of the Metropolis suspend ed this morning. It paid out $65,000 on Saturday last. H. The Bank of Washington, and the nt Patriotic, which paid small sums on Satne urday, now altogether suspend specie he payments. The Savings Bank pays either in City Bank or Virginia money, and demands six days' notice from depositors. er Virginia money is at a discount of five V. per cent, and is tending still further gn downward. is Business is nearly paralyzed. he ALBANY, Sept. 29. Ir. The run on our Savings Banks ha subsided, and the gold drawn out in th panic of yesterday is being returned to day. NEW York Sent 28


Article from Glasgow Weekly Times, October 15, 1857

Click image to open full size in new tab

Article Text

Suspension by Bankers. The following private Bankers of St. Louis have suspended: J. J. Anderson & Co., Bogy, Miltenberger & Co., Darby & Barksdale, E. W Clark & Bros., Jas. H. Lucas & Co.--to which we might add the names of several of the oldest and strongest mercantile houses. It is thought the crisis has passed, and that the suspended houses will soon be under way again.