Broadway Bank - St Louis, MO

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 1, 1879*
Location: St Louis, Missouri (38.627, -90.198)

Metadata

Model: gpt-5-mini
Short Digest: 7f7efcd6

Response Measures

None

Description

Article (Leavenworth Weekly Times, 1879-06-12) reports the suspension of the Broadway Bank in St. Louis and startling discoveries made in connection with its management, which caused widespread distrust and withdrawals. The article gives no indication of reopening; categorized as suspension leading to permanent closure/receiver assignment. Date set to June 1879 (newspaper date).

Events (1)

1. June 1, 1879* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Startling discoveries in connection with the bank's management led to loss of confidence and suspension.
Newspaper Excerpt: The suspension of the Broadway bank and the startling discoveries made in connection with its management served to greatly increase the too prevalent distrust in savings banks and to cause the withdrawal of deposits to a large amount.
Source: newspapers

Newspaper Articles (1)

1. June 12, 1879 The Leavenworth Weekly Times Leavenworth, KS

Article from The Leavenworth Weekly Times, June 12, 1879

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Article Text

Another Batch of Rotten Savings Banks. [t. Louis Times-Journal, 3] The United States Savings bank closed its doors yesterday. This is the second bank that has failed in St. Louis within a week, and fears are entertained that others will speedily follow. The suspension of the Broadway bank and the startling discoveries made in connection with its management served to greatly increase the too prevalent distrust in savings banks and to cause the withdrawal of deposits to a large amount. From the United States Savings bank alone within the past few days some $200 000 had been withdrawn. The management met the demands made upon them until last evening, when they were compelled to suspend.