10697. Bank of St Louis (St Louis, MO)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: July 14, 1877
Location: St Louis, Missouri (38.627, -90.198)

Metadata

Model: gpt-5-mini
Short Digest: 2096c829

Response Measures

Accommodated withdrawals, Full suspension

Other: Bank appears to have gone into liquidation after suspension; depositors to be paid in time per reports.

Description

Small runs by chiefly laboring-class depositors began July 14-15 after the suspension/closing of Butchers' and Drovers' Bank; the Bank of St. Louis met demands at first (30/60-day rule invoked for time certificates) but then closed/suspended its doors on July 16. Closure is reported as a suspension with officers saying depositors will be paid in time; contemporary accounts attribute the forced suspension to the North St. Louis Savings Association closing and $27,000 of its clearings belonging to the Bank of St. Louis. Bank type not explicit in sources.

Events (2)

1. July 14, 1877 Run

Cause: Local Banks
Cause Details: Runs likely grew out of the suspension/closing of the Butchers' and Drovers' Bank and recent failures, producing distrust among small depositors
Measures: Promptly met demands; time deposits subject to usual 30/60 days' notice (banks stood on sixty days' notice in some cases)
Newspaper Excerpt: A run was started this afternoon on the Boatmen's Savings Bank... Runs were also made ... and the Bank of St. Louis, but they were in no sense extensive. The demands were exclusively made by small depositors of the laboring class, and were met promptly
Source: newspapers

2. July 16, 1877 Suspension

Cause: Correspondent
Cause Details: Forced suspension after North St. Louis Savings Association closed, leaving $27,000 of paper of the Bank of St. Louis locked up in clearings; combined with earlier runs/distrust
Newspaper Excerpt: The Bank of St. Louis has closed its doors. Jacob S. Merrill, the President, says the depositors will be paid in time. ... The Bank of St. Louis did its clearing through the North St. Louis Savings and when the latter closed it had $27,000 worth of paper belonging to the Bank of St. Louis, and this forced the latter to suspend.
Source: newspapers

Newspaper Articles (20)

1. July 15, 1877 The Cheyenne Daily Leader Cheyenne, WY

Article from The Cheyenne Daily Leader, July 15, 1877

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Bucking the Banks. St. Louis, July 11.-A small run started this afternoon on the Boatmen's avings Bank, which promptly met all demands up to six o'clock. The cause is not known, neither is it known whether the run will continue on Monday. Runs were also made on the Union Savings association. Provident Sayings association, North St. Louis Savings association, Franklin Avenue, German Savings, Lucas Bank, Lifayette Bank, Citizen's Savings, and the Bank of St. Louis, but they were in no sense xtensive. The demands were exclusively made by small depositors of the laboring class, and were met promp t y, except in some cases where time deposits were called. and the banks stood upon the usual sixty days' notice.

2. July 16, 1877 The New Orleans Daily Democrat New Orleans, LA

Article from The New Orleans Daily Democrat, July 16, 1877

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A RUN ON THE BANKS. A Panie in St. Louis Causes a General Run on all the Banks. [Special to the Democrat.] Sr. LOUIS, July 15.-The suspension of the Butchers' and Drovers' Bank yesterday caused a run in the afternoon on the Boatmen's Savings Bank, Union Savings Association, Provident Savings Association, North St. Louis Savings Association, Lucas Bank, Lafayette Bank, Citizens' Savings Bank, and Bank of St. Louis, but these runs were in no sense extensive. The demands were almost exclusively made by small depositors of the laboring class, and were met promptly. Very few if any merchants or business men joined in these runs. It is believed anxiety will subside and business resume its regular channels to-morrow.

3. July 16, 1877 The Rutland Daily Globe Rutland, VT

Article from The Rutland Daily Globe, July 16, 1877

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Runs on Banks. ST. LOUIS, July 15. A run was started this afternoon on Boatman's savings bank, but the bank kept its door open till 6.30 o'clock this evening and promptly met all demands. The run was not very great, the largest single amount drawn being $8.000. The business of the bank progressed nearly as usual and the amount received by it amounted to nearly half as much as was paid out. W hat started the run is not exactly known, but it probably grew out of the closing of the Butchers and Drovers' bank, and the distrust which resulted from recent failures. It is believed by those in a position to know that the bank is entirely sound and fully able to meet all demands upon it. Runs were also made on the Provident savings association, Franklin avenue German savings bank, Lucas' bank, Lafayette bank, Citizens' savings bank and Bank of St. Louis, but they were in no sense extensive.

4. July 16, 1877 The Wheeling Daily Intelligencer Wheeling, WV

Article from The Wheeling Daily Intelligencer, July 16, 1877

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ST. LOUIS. a n a Suspension of the Batchers and r Drovers' Bank of St. Louis. h A Scary Day in St. Louis--Runs on Numerous Banks. Sr. LOUIS, July 14.-B. M. Chambers, 8 President of the Butchers and Drovers e Bank of this city, made announcements e this morning, of the suspension of that r bank, He says only 50 per cent of the capital stock has been paid in, giving $130,000 to be divided from that source if 8 found necessary to secure depositors. He also says his wife and sisters stand y ready to give deeds of trust on several hundred thousand dollars' worth of prop1 erty, to secure any balance that may be a due depositors, provided such time as e may be necessary to realize on the assets $ of the bank is given them. The suspene sion grows out of a run on the bank, a year or two ago, which took from it nearly a million of dollars, and although the n bank had, to some degree, recovered from e that, the recent failures created such dis1 trust that the bank lost ground again, and it was deemed best to close up. e Sr. LOUIS, July 14.-A run was started this afternoon on the Boatmen's Savings e Bank, but the bank kept its doors e open till half past six o'clock this t evening and promptly met all demands. The run was not very great, the largest single amount being $8,000. The business of the bank progressed nearly as a usual, the amount received by it amount. 8 ing to nearly half as much as was paid e out. What started the run is not exactly h known, but it probably grew out of the e closing of the Butchers & Drovers' Bank 8 and the distrust which resulted from re8 cent failures. It is believed by those in a position to know that the bank is entire sound and fully able to meet all demanda upon it. i Runs were also made on the Union Savings Association, Provident Savings e Association, North St. Louis Savings As. 1 sociation, Franklin Avenue German Savings Bank, Lafayette Bank, Citizens' Savings Bank and the Bank of St. Louis, 1 but they were in no sense extensive. The e demands were almost exclusively made by small depositors of the laboring class, and were met promptly, except in some cases where time deposits were called for, and the banks stood upon the usual 60 days notice. The aggregate drawn from each, was comparatively small and was easily met. Very few, if any, regular merchants or business men joined in the run. It is be. I lieved, at least, and is confidently expected, that whatever excitement or anxiety exists among these small depositors to-day, will subside by to-morrow and business will resume its regular 0 channels by Monday. The officers of the Boatmens's Bank say that they can receive money from New York and other points faster than it can be paid out here, and they have no apprehensions whatever of being the least crippled, even though the run is kept up for several days. There is nothing new regarding the Butchers' and Drover's Bank, except that Mr. Chambers, its President, is perfectfecting the guarantee promised in his statement this morning, that large amounts of property would be pledged to secure the depositors if necessary. The Insurance Commissioner this afternoon made an application for the appointment of a receiver for the Charter Oak Life Insurance Company. The petition sets forth that the assets of the company are 80 much less than the liabilities that it is necessary that a receiver be appointed and the charter annulled. The Judge issued a temporary injunction. The sheriffserved papers on the officers, which requires them to answer the allegations on Monnay next and show cause why a receiver should not be appointed.

5. July 16, 1877 The Wheeling Daily Register Wheeling, WV

Article from The Wheeling Daily Register, July 16, 1877

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Bank Suspension. Sr. LOUIS, July 14.-B. M. Chambers, president of the Butchers and Drovers' Bank of this city, makes the announcement this morning of the suspension of that bank He says only 50 per cent of the capital stock has been paid in, giving $180,000 to be derived from that source, if found necessary to secure depositors. He says his wife and sister stand ready to give deeds of trust on several hundred thousand dollars' worth of property, to secure any balance that may be due depositors, provided such time as may be necessary to realize on the assets of the bank is given him. The suspension grows out of a run on the bank a year or ago, which took nearly $1,000,000, and although the bank bad to some degree recovered from that, the recent failures created such distrust that the bank lost ground again, and it was deemed best to close. A run was started this afternoon on the Boatmen's Savings Bank, but the bank kept its doors open till half-past six o'clock this evening, and promptly met all demands. The run was not very great, the largest single amount drawn being $8,000. The business of the bank progressed nearly as usual, and the amount received by it amounts to nearly half as much as was paid out. What started the run is not exactly known, but it probably grew out of the closing of the Butchers' and Drovers' Bank, and the distrust which resulted from recent failures. It 18 believed by those in position to know that the bank is entirely sound and fully able to meet all demands upon it. Runs were also made on the Union Savings Association. Provident Savings Association, North St. Louis Savings Association, Franklin Avenue German Savings Bank, Lucas Bank, Lafayette Bank, Citizens' Savings and Bank of St. Louis, but they were in no sense extensive The demands were almost exclusively made by small depositors of the laboring class, were met some were and cases where the promptly. deposits except called in for, and the banks stc upon the usual sixty days' notice. The aggregate drawn from each was comparatively small and was easily met Very few, if any, regular merchants or business men joined in the runs It is believed-at least it is contidently expected-that whatever of exeitement or anxiety among these small depositors to-day will subside to-morrow, and that business will resume its regular channels by Monday. The officers of the Boatmen's bank say they can receive money from New York and other points faster than it can be paid out here, and they have no apprehensions whatever of being in the least crippled, even though the run is kept up several days. There is nothing new regarding the Butchers and Drovers', excepting that Mr. Chambers, its president, is perfecting the guarantee promised in his statement this morning, that large amounts of property would be pledged to secure the depositors it necessary. ST. LOUIS, July 15.-All the papers this morning donated a good deal of space to the financial situation, and the run on the banks yesterday. The latter 18 treated quite lightly, and is not re. garded as in any sense serious or likely to result in disaster The U.S. Fire In surance Co, of this city, nas reinsured all its policies in the Scottish Commeretal, ot Glasgow, and closed up its affairs. Dullness of business is the chief cause of winding up. It will pay all debts, and return ninety per cent. to the stockholders.

6. July 17, 1877 The New Orleans Daily Democrat New Orleans, LA

Article from The New Orleans Daily Democrat, July 17, 1877

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Two More St. Louis Banks Suspend. (Special to the Democrat.] ST. LOUIS, July 16.-At the banks to-day everything was quiet, with no indications of a run. The North St. Louis Savings Association closed its doors at half-past 10. The Bank of St. Louis closed its doors soon after. Its president stated that the depositors will be paid in time.

7. July 17, 1877 New-York Tribune New York, NY

Article from New-York Tribune, July 17, 1877

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ST. LOUIS BANK TROUBLES. SUSPENSION OF THE BANK OF ST. LOUIS AND THE NORTH ST. LOUIS SAVING'S ASSOCIATION. ST. LOUIS, Mo., July 16.-The Bank of St. Louis has closed its doors. Jacob 8. Merrill, the President, says the depositors will be paid in time. This bank should not be confounded with the National Bank of St. Louis, which is regarded as a very staunch institution. There are rumors about three other small savings institutions, but at this writing they have not been verified. The North St. Louis Savings Association closed its doors at half-past ten o'clock this morning. No statement has yet been made by the officers or directors. It is stated on good authority that all the large banks have declared their purpose to pay no more time certifi cates, except in cases where distress or unusual need of money is clearly shown. The statement in Saturday night's dispatches that the Luteas Bank was involved in a run that day proves a mistake. It was the Luteas Market Savings Bank, a small concern in the western part.of the city. The Lucas Bank is strong, and its business materially increased since the distrust in the banks originated through the failure of the National Bank of the State of Missouri.

8. July 17, 1877 The Rutland Daily Globe Rutland, VT

Article from The Rutland Daily Globe, July 17, 1877

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LATER. The North St. Louis savings association closed its doors this morning. Kirnan's St. Louis dispatch says a small bank named the Bank of St. Louis closed its doors to-day. There is no excitement and no run on other banks.

9. July 17, 1877 The Wheeling Daily Register Wheeling, WV

Article from The Wheeling Daily Register, July 17, 1877

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The Panic Continues. ST. LOUIS, July 16.-Contrary to ex. pectations, the flurry of Saturday regarding the condition of the banks, did not subside yesterday, but continued to-day, and was materially strengthened towards noon by the closing of the North St. Louis Savings Association and the Bank of St. Louis. As on Saturday, however, the persons engaged in the run are almost wholly confined to the small depositors of the savings institutions and small shop keepers, none of the merchants or business men of any pretentions taking any part in it The closing of the Northern Association. is attributed to a shortage of $10,000 at the clearing house this morning. The Bank of St. Louis did its clearing through the North St, Louis Savings and when the latter closed it had $27,000 worth of paper belonging to the Bank of St. Louis, and this forced the latter to suspend. The action of the North St. Louis Savings Bank has given rise to consider. able severe comments. The banks run on were the Fourth National, the Provident Savings, the Franklin avenue German Bank and the Boatmen's Savings. All the current accounts were promptly met, however, and there was at no time any noticeable excitement. Everything was done in a quiet and orderly manner, and the crowds (it they can be called crowds) at the various banks were quite small. Before noon it was agreed that the time certificates, which were freely paid on Saturday and early this morning, should be subject to the rule of thirty and sixty days' notice, except in cases whe 9 urgent need of money could be show This had the effect of redncing the demands to a considerable extent, and the vigor of the run was a good deal relaxed, and several other Savings institutions were more or less besieged, but they all asserted their ability to meet all just demands, The commercial banks are pursuing the even tenor of their way, being very little, if any, effected.

10. July 17, 1877 The Cheyenne Daily Leader Cheyenne, WY

Article from The Cheyenne Daily Leader, July 17, 1877

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MISSOURI. -Couldn't Stand the Pressure. St. Louis, July 16.-The bank of St. Louis has closed its doors. Its president, Jacob S. Merrill, says depositors will be paid in time. This bank should not be confounded with the National Bank of St. Louis, which is regarded as a very staunch institution. There, are rumors about three other small savings associations, but at this writing they have not been verified. The North St. Louis Savings bank also closed its doors. It is feared others will have to suspend to-morrow.

11. July 17, 1877 Daily Kennebec Journal Augusta, ME

Article from Daily Kennebec Journal, July 17, 1877

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NEW YORK. Suspension. NEW YORK, July 16. A St. Lonis dispatch says a small bank named Bank of St. Louis closed doors to-day. No excitement and no run on other banks. Collectorship. The Express's Washington dispatch says Gen. Hayes, cousin of the president, is to succeed internal revenue collector Freeland of Brooklyn, but the removal of the latter will be deferred for a short time at the request of Henry Ward Beecher. Robbery. M.E. Dickson's jewelry store was robbed of between $15,000 and $20,000 worth of watches, diamonds, etc., by burglars. No clue to the robbers. Gold. Gold opened at 106 3-4 Drowned. Six drowning cases in this city yesterday. Marine News. A disablad steamer with smoke stack gone and under sail, was seen July 5th, making for Charleston. Removed. The World's Washington dispatch says it leaks out that the reason for trying to remove Capt. Brackett was that he was too well acquainted with newspapers and the publication of names of smugglers and friends was distasteful to many people. Weather. Weather, clear, very hot.

12. July 17, 1877 The Daily Dispatch Richmond, VA

Article from The Daily Dispatch, July 17, 1877

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St. bouis Troubles. BOXK DEPOSITORS THEIR MONEY-NO PEAR OF RUNIL ST. Louis, July 16. Everything at the various banks is guiet. There are a few ladies at the Boatman Bank Withdrawing small deposits The same is said of one or two of the other savings institutions. There is no excitement or idication of a run. ST. LOUIS SAVINGS INSTITUTION CLOSED. Sr. Leurs, July/18.-The North St. Louis Savings Association closed its doors at halfpast 10 o'clock this morning. There is no statement. THE BANK OP-ST. LOLIS CLOSED / ST. Lotte, July 16.-The Bank' of St. Louis closed doors to-day. Jacob T. Merrill (president) says the depositors will be 11/1 paid in time. MORE OF THE BANK TROUBLES. Sr, Louis, July 10.-It is stated on good authority that all the large banks have declared their purpose to pay no more timecertificates, except in cases where distress or unusual.need of money is clearly, shown. The statement in Saturday night's dis. patches that the Lucas Bank was involved ina run that day proves to be a mistake. It was the Lucas-Mar Savings Bank, a small concern, in the western part of the city... Lucas Bank is strong, and its business has materially increased since the distrust in banks-originated through the failure of the National; Bank of the State of Missouri:

13. July 17, 1877 New-York Tribune New York, NY

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THE ST. LOUIS BANKS. CONTINUANCE OF THE RUN BY SMALL DEPOSITORSBUSINESS MEN NOT ALARMED. ST. LOUIS, July 16.-Contrary to expectation the flurry of Saturday regarding the condition of banks did not subside yesterd Ly, but continued to-day. and was materially strengthened towards noon by the closing of the North St. Louis Savings Association and the Bank of St. Louis. As on Saturday, however, the persons engaged in the run were almost wholly confined to small depositors in savings institutions, and small shop-keepers. No merchants or business-men of any pretentions took part in the run. The closing of the North St. Louis Savings Association is attributed to a shortage of $10,000 at the clearing-house this forenoon. The Bank of St. Louis did its clearing through the North St. Louis Savings, and when the latter closed it had $27,000 of the paper belonging to the former. This forced the Bank of St. Louis to suspend. The action of the North St. Louis Savings Association has given rise to considerable severe comments. The banks run on to-day most were the Fourth National, the Provident Savings, the Franklin Avenue, the German Savings and the Boatmen's Savings. All current accounts were promptly met, however, and there was at no time any noticeable excitement. Everything was done in a quiet, orderly manner, and the crowds, if they can be called crowds, at the various banks were quite small. Before noon it WS8 agreed that time certificates, which were freely paid on Saturday and early this morning, should be subject to the rule of thirty and sixty days notice, except in cases where urgent need of money could be shown. This had the effect of reducing the demands to a considerable extent, and the vigor of the run was a good deal relaxed Several other savings institutions were more or less besieged, but they all asserted their ability to meet all just demands. The commercial banks are pur* suing the even tenor of their way, being very little, if any, affected, except that those best known to be strong and safe are receiving individual deposits and doing increased business. The aggregate of currency held by these banks now, is largely in excess of the amount in their vaults two weeks ago. Four per cent Government bonds and all securities, even those which command a premium, are being sought after for investment. Of course there is a good deal of comment on the present condition of aflairs and what the outcome is likely to be. There is a strong disposition manifested on the part of small depositors in most of the banks, especially in savings institutions, to obtain their money, but it may be stated that the substantial merchants and business men of the City, generally do not apprehend any serious disasters to follow the present excitement.

14. July 17, 1877 The New York Herald New York, NY

Article from The New York Herald, July 17, 1877

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The Stock Market Heavy, but Not Lower. GOLD STEADY AT 105 3-8 A 105 1-2. Railroad Bonds Strong-Government Bonds Firm and Active. MONEY ON CALL EASY AT 1 1-2 A PER CENT. WALL STREET. MONDAY, July 16-6 P. M. There WHB a decided reversal to the course of speculation this morning, which, coming in the nature of a surprise, was a keen disappointment to bulls, great and small Matters had closed up so strong on Saturday that it seemed to require but a small gift of prophecy 10 predict a rousing market for to-day. Unfortunately Stock Exchange schemes, like those "O' mice and men gang aft agley," and the record of this morning's business went to show it. First quotations were strong and in most cases higher. but it was soon rendored apparent that there existed a screw loose somewhere, and that one very necessary to the support of the market. It shortly was discovered that the evil lay in disturbing reports as to the condition of the St. Louis banks, which were magnified into asserions that a general "run" was taking place and that a financial panic was raging. Here was certainly a good deal ot smoke, and much more in fact than was justified by the small amount of fire which was found 10 exist when the truth came. The whole matter seems to be of little moment, being confined to the suspension of the North St. Louis Savings Bank and the stoppage of another small institution known as the Bank of St. Louis. Late despatches state that no excitement whatever exists and that no rua upon the other banks had occurred or was anticipated. The correction was reassurring enough to bring about a 'ally in the share market, but it proved but temporary, as prices fell off again during the last hour and closed weak at generally the lowest point of the session. The decline ranged from 1/4 to 21/2 per cent, Morris and EsBOX suffering the most and the trunk railroads tailing after under various degrees of instability. or these latter Lake Shore was the weakest, losing as it did 1% per cent on the day's business. The decision rendered by Judge Barrett against the company, in the matter of past due dividends upon the guaranteed stock, 18 looked upon as unfavorable, though 11 18 stated that It is applicable to less than $200,000 of the $500,000 worth of shares of that issue. In amount of transactions, which were limited to 146,000 shares, the market may be regarded as inactive, the sales prompted by the St. Louis news being mostly for account of the smaller operators, the Great Moguls of speculation being either absent from the city or elect. ing to hold on under the impulse of the midsummer madness which has lately seized upon them. THE SALES TO-DAY. The transactions at the Stock Exchange to-day aggregated 146,543 shares New York Central, 7,900; Erie, 1,600; Lake Shore, 32,000; Wabash, 300; Northwestern, 1,326; Northwestern preferred, 6,700 Rock Island, 2,500; Milwaukeo and St. Paul, 2,650; Milwaukee and St. Paul preferred, 15,220; Pittsburg, 300; Delaware, Lackawanna and Western, 28,920; New Jersey Central, 750; Delaware and Hudson Canal, 2,700; Morris and Essex, 8,900; Michigan Central, 3,650; Hannnibal and S: Joseph preferred, 400; Panama, 100; Western Union, 27,433; Atlantic and Pacific Telegraph, 300; Pacific Mail, 1,900. OPENING, HIGUEST AND LOWEST. The following shows the opening, highest and lowest prices of the

15. July 18, 1877 The Dallas Daily Herald Dallas, TX

Article from The Dallas Daily Herald, July 18, 1877

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[Night Associated Press Report.) This morning business at the banks opened with bright prospects. At 11 o'clock, nothing of special note had transpired. Very few people, not more than one-half a dozen at any one time, have been at the Fourth National bank and Provident Savings bank presenting checks, which have been promptly paid. The run seems to have stopped, and it is hoped no further exeitement or trouble will occur. The officers of the North St. Louis Savings bank, asserts that the assets of the bank exceed the liabilities fully $150,000. This can be easily realized. The deposits amount to $600,000. The bank will go into liquidation. It is said Espy, Hudlebach & Co., of Cincinnati, Ohio, had a considerable sum in bank when it closed. As stated, yesterday, Mr. Merrell, president of the Bank of St. Louis, says the bank will pay its depositors every dollar. The current deposits amount to about $50,000, time deposits to $350,000, with assets more than sufficientto pay all. The bank had a large amount in New York exchange, which it could not dispose of; but it could have pulled through had not the North St. Louis savings bank closed up $27,000 of its clearings. Well authenticated reports from the extreme northern part of the city say that the Bremen bank has closed its doors. The run on the down town banks may be regarded as stopped. The thirty days' notice rule will be enforced.

16. July 18, 1877 The Wheeling Daily Intelligencer Wheeling, WV

Article from The Wheeling Daily Intelligencer, July 18, 1877

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The Financial Crisis-Bank of St. Louis Will Pay in Full. Sr LOUIS, July 17.-This morning business at the banks opened with brighter prospects, and up to the hour of 11 o'clock nothing of special note has transpired. Very few people, not more than half a dozen at any one time, have been at the Fourth National and Provident Savings Banks presenting checks, which have been promptly paid. The run seems to have stopped, and it is hoped that there will be no further excitement f or trouble. Still, it cannot be said what the day will bring forth. The officers of the North St. Louis Say. . ing Institution assert that the assets of e the bank exceed the liabilities by $150,. 000, and that they can be pretty easily to 0 $600,000. realized upon. The bank The will deposits go into amount liquiday tion. It is said that Eisher, Hilulback & 8 Co., of Cincinnati, had a considerable a sum in coin in the bank when it closed. 8 Asstated yesterday Mr. Merrill, President of the bank, will pay the depositors every dollar. The current deposits are about $50,000 and time deposits $33,000, with assets more than sufficient to pay all. The bank had a large amount in New York exchange which it could not dispose of, but it could have pulled through had not the North St. Louis Savings Institution closed, locking up $27,000 of its clearings. BREMEN BANK. Sr. LOUIS, July 16.-A pretty well authenticated report has just come down from the extreme northern part of this city that the Bremen Bank had closed. No particulars can be given at the present writing. The run on the down town banks may be regarded as stopped. The enforcement of the thirly days notice yesterday, regarding the time certificates, seems to have effected this result, and as the small current accounts in the savings banks have mostly been drawn out the excitement has about subsided, and business is again progressing in its regular channel.

17. July 18, 1877 The Daily Dispatch Richmond, VA

Article from The Daily Dispatch, July 18, 1877

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st Louis Bank Troubles The LOUIS, July 16. Contrary to expects the Sr. the flurry of Saturday regarding yestion condition of the banks did not subside was ma but continued to day, and by the terday, strengthened towards. noon terially of the North St. Louis on and Bank of St. Louis, as However, the persons to urday were almost wholly closing sociation confined Savings engaged Sat- and As- in run of savings or no merchants of any pretensions taking of the North St. Louis at it. small small the ness-men depositors hop-keepers, closing Institutions $10,000 Savings part busi- in The attributed to shortage of The house this St. Louis did its When Bank of St. Louis Savings. of the the Bank North clearing is clearing morning worth through paper the closed it had $27,000 Louis. This latter to the Bank of St. The action latter to suspend. given the forced North the St. Louis severe Savings comments. Bank has rise belonging considerable the Fourth The of to most to day were Franklin-Ave banks run Provident on Savings, Boatmens SavSavings, and nue, German current accounts were time any All and there was at no in ings. National, however, savings promptly met, excitement. or Other less besieged, all asserted were their ability to they demands. There is a strong small just on the part of stitutions noticeable manifested more especially meet disposi- but de all in tion in most of the banks, institutions, to obtain savings merchants and any do not but positors substantial generally apprehend their business-men money, state of the city disaster to follow the present THE of RESULTS OF YESTERDAY BANKS. serious affairs FROM SEVERAL morning STATEMENT busi July 17.-This bright pros ST. LOUIS, banks opened with ness at at 11 o'clock nothing pects, and transpired. Very few timehad the of people- special the note than half a dozen at one and not more been at the Fourth National, presenting have president of the Savings been Bank promptly paid, checks, which seems have to have stopped, and trouble it is the run further excitement or North St. hoped no The officers of the assets will occur. Bank assert that fully the $150, Louis Savings bank exceed its liabilities The deof the can be easily realized. bank will 000. They to $600,000. The posits amount It is said that congo into & Co., of Cincinnati, it a in the bank when siderable sum Mr. Morrill, the bank Ridilhack liquidation. yesterday. had president closed, Espry, as stated Bank of St. Louis, says dollar. Curof the the depositors every time rent will pay deposits amount with to assets about more $50,000; than sufdeposits $33,000, all. The bank had which a large it ticient to in pay New York Exchange, could have amount dispose or, but it St. Louis could not through had not the North its clearing. pulled Savings Bank closed up $27,000 of ANOTHER BANK CLOSED July 17.-Well-authenticated of ST. LOUIS, the extreme northern Bank part hasreports from state that the Bremen down-town the city its doors. The run on the The closed be regarded as enforced. stopped. tbirty-days banks may notice rule was New York. FOUR-MILLION SUIT AGAINST COMPANY. THE UNIVERSAL LIFE INSURANCE YORK, July 17:-A suit for Universal $4,600, NEW begun against the given 000 has been Company. This has to be Life-Insurance the representation that thereare developments rise to and more startling Univeral, additional to the management of the manner in relative especially concerning the Guardian and the Universal absorbed the the Uniwhich The suit is to recover from Mutual, Mutual. the assets of the Guardian $4,600,000, versal it is understood, at character are estimated, of the most serious for the and charges persons responsible the made absorption against of the Guardian Mutual by Universal. THE UNIVERSAL'S REAL ESTATE. VALUE OF N. Y., July 17.-To-day SCHENECTADY, report of Superintendent-of-Insure Landon ap: ance-Department on the Smith, Judge New York Isaac V. French, of of the pointed to inquire into the value Insurance referee, of the Universal Life hereafter real estate All premiums are Com Company to the United States Trust question of payable New York pending the paid pany company's of solvency-all premiums to the the Trust Company to be returned is to policy-holders the if the Universal Company declared insolvent. The Turf.

18. July 27, 1877 The Hickman Courier Hickman, KY

Article from The Hickman Courier, July 27, 1877

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The Run on the Bank of St. Leuis. The "run" on the Bank of St Louis originated in a curious way. A cattle dealer, who had been doing business with the bank, and who had de posited New York exchange instead of currency, called and asked how his ac count stood The Cashier informed him that he had something more than $15,000 to his credit The drover said he wanted $10.000 in currency The Cashier re ied that Oe would rather not give him that much in cur rency, but he would give him $15.000 in New York exchange-the same that he had deposited-if he wished it This irritated the drover a good deal. and attracted attention and gathered a crowd, with the result told soon after in closed doors.-[St. Louis GlobeDemocrat.

19. July 28, 1877 Bradford Opinion Bradford, VT

Article from Bradford Opinion, July 28, 1877

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SUMMARY OF NEWS. Interesting Items from Ilemo and Abread A formidable riot was xpected in Montreal on the twelfth of July, the day which celebrate Orangement annually in tion of the battle the Boyne and the militar police were hold in readiness to stop an urbance few days prior to the twelft the Orange lodges decided not to hold parado blood action believed prevented a this and As was, one young o Orangoman, name Hackett was pursued by body of men an shot dead as take efuge in store, and number of others were wounded while the police had their hands full scattering the crowds effciency of over $1,000, in the Universal life insurance company of New York uperintendent ported the by has surance and the State Attorney -genera moved for the appointment The amount already subser ibed to the new four cent. loan reache In London Warwick the bonds are quoted at par At Capt. James Warner died at the age of ninety-eight He became A Free Mason Providence in 1803, and is believed to have been the oldest member of the order in the United States. Genera Grant arrived Frankfort-on-the- Main, Germany where banformidable tendered to him was No quet the Indian outbreak in the West that likely the President will call out the militia of the Pacific coast. Several dealer in New York w ho used false weights and measures have been exposed. and charges have been made against an inspector Prince Bismarck declares mediation be tween Turkey and Russia impossible present The President has offered the mission for Russia to Bayard Taylor Indemnity vessels be do outrages upon American manded from Spain by the President Poindexter Edmonson ho was convicted of murder months ago and once respited at the last moment, was hung at Bloomfield Mis souri, for the murder of man named Shaw Edmondson protested his to the last passenger train near Murphys Missouri. jumped the track creek thrown the whole train injured passenger Every Pater striking weavers severel ilk to suit answer to son, jail damages in not their warps according Pierce Dav and to contract Steven hung in Char rleston for murder of young man named Edings May the purpose of their crime being robbery Moore Beattv wealthy builder of Philade Ph Mrs. Matilda he rescue to went phia, was drowning in the surf Atlantic Both were taken out of the water conscious, and was found vive them party of thirty -one Chinamen were surprised by the Indians who revolted in Idaho and Oregon recently and all but one official An the Celestials were killed patch from Gen. Howard by way of Portland Oregon, states that the Indians routed after severe ement near the mouth the Cottonwood. The savages were about strong and they lost about thirteen the troops while the wounded includwounded twenty and cleven killed ing two officers The Butchers and Drovers bank, St. Louis, suspended boiler exploded mine nine miles from Macungie and three men were instantly killed five fatally and three serious wounded revolution has broken out San Domingo. result of the bitter feeling engendered the trouble of the twelfth of July another des perate fight broke out two days after between the Orangemen and Catholics of Montreal One man was fatally wounded. and the Daniel time under control after Murphy and Michael Cahill and night of dissipation together Cahill knocki brick hurled at him Murphy fe stone head and struck His hour skull fractured an of died he France election on in There general the eleventh of September General Attorne and Evarts Secretary Devens have gone to Pennsylvania on visit to the mining regions dispatch save the Russians have captured Nikopolis and part of their Balkan ssed the Bulgaria forces of the .one James Lenno mountains Judge oldest and most espected citizens Iwaukee tornado fearful committed Wis. accompanied with hailstone as large as hens over M ntague township, and did great damage buildings trees. crops and Edward vegetation Holland, while under the influence of liquor. pulled out pistol the room of and shot Henry Ellsworth. morta wounding The Bank of St Louis and the North failed Savings have St Louis The directors of the Paterson Fire Insurance Company of Paterson N asked appointed receiver the concern capital that the whole the fact the four new The subscription aggregated $68 Blumgart of New York liabilities with woolens, failed of few Striking fired Ohio train Baltimore railroad and West Virginia, at Martinsburg, sent quel been who to troops body or of the on part disturbance strikers. One soldier was wounded and fire returned killing the the immedia ting and rioters great of the one mob the train e rest or charg among repulsed. they but were cars. the cutting succeeded the train rendering Savings closed shops and of thunde of loss causing and York vicinity that storm caused loss to life and Mrs. Station. Homestead Sandow wife of wealthy farmer, took her house. near the from by her child and hired boy and while in the shed the party were struck killed instant father and lightning suffocate and two John Justice Canada Drayton, Asbur at Park, died Sanborn Bank, Five doing Mass. the of the condition that further render procee public the those and meeti cabinet funds decided that the President civil service calling for the resignation of from political associati must be carried out without exceptions. The Elcho Shield was won by the Irish team point 1,568 Wimbledon. making they out 800 England coming next with Scotland 1,464 and strike the Baltimore and Ohio ailroad ex and tended far Chicago, Martins at lying idle burg although two trains United of States of arrival upon the in the town. Several of the strike were arrested strikers of the riotous also occurred among the conductors and brake railroad at the men freight Ellen Auburn, pauper crippled James Mulcahy The murderer broke each of the four limbs of his victim across his kne pounded her head. fracturing the skull She lived four hours to the crime and the murderer, who boasted of the act when arrested and was evidently the general of date The October been France at manufactory West Coolidge shoe Mass and twelling Marlboro, estimate at fire The by destroyed insurance which there an upon hands hundred two Over of $74,000 the fire of out thrown Dom Pedro, from Boston bound to sunk into off and John, revenue the board th of secretary Grant, having officials other government high treasury and When Luckily of Newport, Bank, the cashier that the the robbed cash the bonds. bank while had the when the before night Mexico. and Gen. Valdez the interest of Lerdo recruiting American side for movement across border against the Diaz

20. August 1, 1877 The Abbeville Press and Banner Abbeville, SC

Article from The Abbeville Press and Banner, August 1, 1877

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NEWS ITEMS. What is Doing in the Old World and the New A young man named Hackett. belonging to the order of Orangemen, was surrounded by a crowd of men and boys in Montreal. and after a desperate struggle was shot dead This oc. curred on the twelfth of July, the day which is observed by Orangement in commemoration of the battle of the Bovne. This year great deal of trouble on that day was anticipate in Montreal, and the police force and military made extensive preparations to quell any disturbance that might occur but the Orangelodges resolved to have no parade at the last moment the day passed without the occurrence of the sanguinary riot which was expected. although the streets were filled with armed and excited crowds, and the shooting affair above noted General arrived Grant took place Frank the Main, Germany where banThe Indian quet was given in his honor war in the West has become 80 serious that the President may call out the Pacific coast militia. 'he superintendent of insurance of New York reports deficiency in the Universal life insurance company of over $1,000,000. and the attorney -general has moved for the appointment of receiver Capt. James Werner died in Warwick, aged ninety r-eight years. Ho was made Free Mason in Providence in 1803, and believed to have been the oldest The subscrip Mason the United States tion to the new four per cent. loan amounts to over $25,000,000, and the bonds are at par in London At Charleston, S. C. George Stevens and David Pierce were hung for murdering young was man named Edings in May last. Robbery A of number the object of their crime dealers in New York have been exposed for using false weights and measures. and an inspector has been arrested for being collusion with them Bismarck asserte that mediation for peace between Russia and Turkey is impossible present The President will demand indemnity from Spain for Ameri can vessels number weavers strike for suit arrested N were Paterson. in damages for not finishing their warps accord At Bloomfield Mo.. Poin ing to contract dexter Edmonson was hung for the murder of one Shaw. He had been respited once, and Murserted his innocence to the last Near ohysboro, Mo passenger train was thrown off the track and plunged into creek, and every one of the passengers were injured noue dangerously Bayard Taylor has been offered the Russian mission by the President An official dispatch from General Howard by way. of Portland, Oregon, states that the Indians were routed after severe engager near the mouth of the Cottonwood. The savages were about 300 strong and they lost about thirteen/killed and large number of wound ded while the loss of the troops were eleven killed and twentv-six wounded, including two officers. party of thirtv one Chinamen were surprised by the Indians who revolted Idaho and Oregon recently and all but one of the Celestials were killed The Butchers and Drovers bank, of St. Loúis, has suspended A boiler explode mine nine miles from Ma cungie. and three men were instantly killed and five fatally and three scriously wounded. revolution has broken out in San Domingo Moore Beatty wealthy builder of Philadelphia went to the rescue of Mrs Matilda Phillips, of New York. who was drowning in the surf at Atlantic City, N. J. Both were taken out the water and it-was found sible revive them by result of the bitter feeling gendered the trouble of the twelfth of July, another desperate fight broke out two days after between the Orangemo and Catholics of Montreal One man was fatally wounded: and the city was Daniel for time under control of mob Murphy and Michael Cahill quarreled after night of dissipation together in New York and Murphy hurled brick at Cahill, knocking him down. His head struck stone 88 he fel and he died of fractured skull an hour There will be general election in France on the eleventh of September An examination into the affairs of the Paterson Fire Insurance Company, of Paterson N showed that was without any capital and the directors asked for the tment of The subscription to the new four per cent. loan at par amounted to $68.000. .000. portion of the Russian troops have crossed the Balkan mountains. and Nikopolis on the Danube has been taken by the Muscovite Two more banks have failed in St army Louis the Bank of St. Louis and the North St Milwaukee. At Association Savings Louis re Wis.. Judge James Lennon an old and spected citizen, committed suicide tion of Sussex county, N was devastated by hailstone mpanied by tornado terrible of unusually large size. Many buildings unroofed, trees were uprooted, and crops and vegetation were completely destroyed Office holders all over the country are resigning their positions as officers of political associations by Henry Ellsworth was shot in the abdomen Edward Holland in the bar of hotel at Patterson, Holland was under the influence of liquor at the time of the shooting. Striking employees of the Baltimore and Ohio railroad (fired upon train at Martinsbure West Virginia, which contained body of troop who had been sent to the scene to quell any disturbance interference on the part of the strikers, One soldier was wounded. and the troops immediately returned the fire, killing one of the rioters and creating great excite ment among the rest. The mob charged on the train several times, but were epulsed. although they succeeded in cutting the couplings of the cars, rendering impossible for the train to continue on it's way The Bremen Savings Bank, St. Louis, has closed its doors Blumgart Co., of New York at importers of woolens, failed with liabilities The assets 8500.000 extensive few and foundry and machine shops of A. Hartupee, Pittsburgh Pa. were burned, causing loss 8300.000 severe thunder storm that of passed over New York and vicinity caused In considerable loss to ife and property. Homestead Station. Mrs Elizabeth Sandow, wife of a wealthy farmer. took refuge from the rain shed near her house. She was accompanied by her child and bired boy, and while in the shed the party were struck by lightning and instantly killed. father and two sons were suffocated near Drayton, Canada Chief-Justice John S. Sanborn died at Asbury Park The City Five Cents Savings Bank, of Haverhill doing from business, Mass. was enjoined amination showed that the condition of the bank was such as to render further proceedings hazardous to the public and to those lia funds in its custody At cabinet meeting was decided that the President civil service order calling for resignation of officeholders from political associations must be carried out without exceptions Ex-Gov. Samuel J. Tilden left New York for Great Britain three month trip in search While recreation Charles Cor and rest. of nell and Percy Hayward were fishing near New York storm came on They took refuge under a tree. which was struck by lightning soon riotous killed were The after men and both demonstrations of striking employees of the Baltimore and Ohio railroad in West Virginia became formidable that the State authorities were rendered powerless and the governor of the State was compelled to call upon President Hayes for the aid of the regular army cordingly the War department sent body of troops from the arsenal at Washington and several companies from Fort McHenry Baltimore, to the scenes of disturbance. The rioters were out in large force at Martinsburg and other points and prevented the passage of trains At Alfred, N three children of Charles Vincent died from the effects of cating berries that had been picked close to where paris green had been sprinkled upon potato bugs The first biennial convention of the National Cotton Exchange of America took place at Greenbrier, White Sulphur Springs. W. Va. Fifty delegations were present representing the cotton exchanges of New York New Orleans Memphis, Mobile, Cincinnat St. Louis, Vicksburg. Charleston, Savanna Cuban and Norfolk young wealthy named Manuel Blanco Gareria. who had re ce tly arrived in New York from Havana committed suicide He was t thought to be insane The house of William Anderson