10716. Boatmens Savings Institution (St Louis, MO)

Bank Information

Episode Type
Run Only
Bank Type
savings bank
Start Date
October 6, 1857
Location
St Louis, Missouri (38.627, -90.198)

Metadata

Model
gpt-5-mini
Short Digest
88953a3f

Response Measures

None

Description

Contemporary reports (Oct 6–7, 1857) describe a run on multiple St. Louis banks including the Boatmen's Savings Institution. Articles state there were no evidences of suspension yet, so this is classified as a run-only episode. Cause attributed to broader monetary/financial distress discussed at the Merchants' Exchange (monetary affairs/panic of 1857).

Events (1)

1. October 6, 1857 Run
Cause
Macro News
Cause Details
General monetary distress and currency concerns discussed at the Merchants' Exchange (panic/monetary affairs of Oct 1857) leading to runs on multiple local banks.
Newspaper Excerpt
There is a run to-day upon the Bank of Missouri, and the Boatmen's and Germans' Savings Institutions. There are no evidences of suspension yet.
Source
newspapers

Newspaper Articles (2)

Article from New-York Daily Tribune, October 7, 1857

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Article Text

MONETARY AFFAIRS IN ST. LOUIS. Sr. LOUIS, Mo., Oct. 6, P. M. A meeting was held yesterday at the Merchant's Exchange to consider the currency question. Mr. Henry, Bank Commissioner of Illinois, made a statement of the condition of the banks of that State, which was generally regarded as satisfactory. The Commit tee appointed to report on the subject convened in the afternoon, but adjourned without coming to a definite conclusion. The vote on receiving the currency at par stood at a tie previous to the adjournment. A resolution was passed to petition the Legislature to issue no more bonds at present, and to create a sinking fund for the payment of the interest on those already issued. Another meeting was held at the Exchange to-day. The suspension of Lucas & Co. created no excitement, as their assets are known to be ten times greater than their liabilities. There is a run to-day upon the Bank of Missouri, and the Boatmen's and Germans' Savings Institutions. There are no evidences of suspension yet. The regu. lar banks remain strong. At the meeting at the Merchants' Exchange to-day, & resolution to receive and pay out the currency at par was adopted by an overwhelming vote.


Article from The New York Herald, October 7, 1857

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Article Text

CRITICAL STATE OF AFFAIRS IN ST. LOUIS. Sr. LOUIS, Oct 6-R-M A meeting was held yesterday as the Merchants' Ex change, to consider the currency question. Mr. Henry, Bank Commissioner of Illinois, made a statement or the condition of the banks of that State, which was generally regarded as satisfactory. The committee appointed to roport on the subject subject comvened in the afternoon, but adjournw without coming to a definit econolusion. The vote on receiving the currency at per stood at a the previous to the adjourament A revolution was passed to petition the Legislature to issue no more bonds at present, and to create a sinking fund for the payment of the interest on those already ssued. Another meeting was held at the Exchange to day, when a resolution to receive and pay out the ourrency at par, was adopted by an overwhelming vote. The suspension of Lucas & Oo. created no excitement, as their assets are known to be ten times greater than their liabilities. There is a run to-day upon the Bank of Missouri, and the Boatmen's and German's savings institutions. There are no evidences of suspension yet. The regular banks remain strong.