10771. Mercantile Bank (St Louis, MO)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
February 3, 1877
Location
St Louis, Missouri (38.627, -90.198)

Metadata

Model
gpt-5-mini
Short Digest
5a69aba8

Response Measures

None

Description

Newspapers (Feb 1877) report a proposition to go out of business and wind up the affairs of the Mercantile Bank of St. Louis — this indicates voluntary winding up and permanent closure. No run or depositor panic is described in the excerpts; the action appears to be voluntary liquidation/closure. OCR errors in articles corrected (e.g., 'reantile' → 'Mercantile').

Events (1)
1. February 3, 1877 Suspension
Cause
Voluntary Liquidation
Cause Details
Proposition to go out of business and wind up the affairs of the Mercantile Bank submitted to stockholders (voluntary winding up).
Newspaper Excerpt
A PROPOSITION to go out of business and wind up the affairs of the Mercantile Bank of St. Louis, will be submitted to the stock-holders of that institution.
Source
newspapers

Newspaper Articles (2)
1. February 3, 1877 The Superior Times Superior, WI
Article from The Superior Times, February 3, 1877

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Article Text

their action near $5,000 more. She has sued her first lawyers in action for $10,000 damages through their inexcusable negligence. AFTER a month's blockade, the ice has broken up in Baltimore harbor, and navigation is fully resumed. Shippers are jubilant. WILLIAM F. SMITH, H. Joel, B. Erhart, Dew itt C Wheeler and Sidney B. Neipls, police commissioners of New York, served on the publishers of the New York Times their complaints in suits for alleged libelous publication on the 14th inst., in which statements were made refl ecting on the manner in which the work of cleaning the streets of snow had been neglected. Each commiss ioner estimates the damage to him to be $10,000 fo which suit is brought. THE WEST. A PROPOSITION to go out of business and wind up the affairs of the Mercantile Bank of St. Louis, will be submitted to the stock-holders of that institut.on. The Mercantile is one of the heaviest banking corporations in St. Louis. A RAILRO AD meeting was held on the 24th at Dubuque, Iowa, for the purpose of furthering the inerests of the Sioux City, or northern branch of the Pacific railroad, and its extension to the Black Hills. A TRAIN of fifteen wagons and twenty men were captured on the way from the Black Hills, by Crazy Horse Indian butchers, and the en tire company massacred. LINFORTH, BELLOGG & Co., importers of hardware and agricultural implements, of San Francisco, have suspended. Liabilities about $500,000. At meeting of the ereditors it was ascertained that the assets were $800,000. E. C. DEVEREAUX has resigned the superintendency of the St. Louis, Lawrence & Western railroad, and the road goes on sale on the 23d proximo, Oli mortgages. THE recent rise in stocks at San Francisco, is pushing shorts severely. The usual number of failures prevail. Berry & Walfshill, a prominent banking firm, have suspended. EMPLOYES on Mare Island navy yard, San Francisco, are discharged, appropriations having become exhausted. S. M. Hox and T. D. Weeks are confirmed as regents of the Wisconsin state normal school. CHEERING reports of the crop prospects are comng from all parts of California. A SAN DIEGO dispatch says that a CO mpany is being formed there to build a railroad to Yuma, in the direct line of the Texas Pacific. The government will be asked to grant the same aid given to other roads. A PORTLAND dispatch says the new revenue cuter has been seized by the sub-contractors for a claim of $9,000. THE lately deposed governor, Viliagrana, of Lower California, has arrived at Lapaz, from San Francisco, en route to Mazatlan, to obtain troops and war vessel from the general government to re instate himself. THE well known publishers and booksellers, W. B. Keene, Cook & Co., of Chicago, have failed. CHAS. A. GOUBERT, former proprietor of the Gardner House, Chicago, having been arrested for debt, and bailed out on the 19th, made a schedule of his property, showing his liabilities at $114,000, and his assets $76,000. POLITICAL. JUDGE DANID DAVES was elected to the United States Senate by the general assembly of Illinois on the 25th. He stated to friends, who congratuated him on the result, that if he should conclude o accept he will not resign his present position on he supreme bench before the 4th of March. PRESIDENT GRANT approves of the comprom ise plan. THE Senate reached a vote on the compromise bill at 7 o'clock on the morning of the 25th inst., after an all-night session. The vote sto od 47 for to 17 against, as will be seen by the proceedings in another column. Various amendments submitte were voted down. THE New Jersey legislature elected Jo hn B. MacPherson United States Senator on the 23d inst., to fill the place now occupied by Frederick T. Freli nghuysen. THE Republicans of the Illinois legislature have nominated Chas. B. Lawrence for United States Senator, Gen. Legan having withdrawn from the contest. THE Lousiana Republican House seated five members, subject to contest. Ex-Gov. W. P. Kellogg, recently elected U. S. senator, has left for Washingon, via Mobile. THE Tennessee legislature re-elected Charles N. ibbs, secretary of state, and also Jos. L. Gaines, urer. comptreller. Col. Marsh T. Polk was elected treasTHE compromise bill on counting the electoral vote was taken up in the Senate on the 20tn, and the debate was opened by Edm unds. MORTON presented in the Senate on the 20th, the credentials of Kellogg as United States senator from Lousiana. They were read and laid on the table. PRESIDENT GRANT says he is not prepared to recognize either of the state governments in Louisana, pending the congressional investigation, bu is prepared to preserve the peace. Gro. F. HOAR was elected to the U. S. Senate by the Massachusetts Legislature on the 19th inst. THE Tennessee Legislature elected James E. Baiinst. ley U. S. Senator, on the 73d ballot, on the 19th WASHINGTON. THE bill to amend the existing laws in reference to national gold banks passed the house of repreta tives; and bills relating to the Northern and Texas Pacific railroads were referred to the committee on the whole. THE president's message in reference to the use of troops at the late election, was referred to the select committee of eleven for a searching inquiry, with power to send for persons and papers. THE committee of the House, to which the report of the investigation of the navy department was referred last session, reported on the 23d, completely exonerating Secretary Robeson. BULTZ was on the 23d inst. sworn in as member of Congress from South Carolina. THE committee on election frauds in New York report that Hewitt's mail was not tampered with in the New York postoffice. T ME President has nominated C. C. Sniffin, his private secretary, to be surveyor general of Arizona. THE President submitted a message to Congress on the 22d inst., in reply to a resolution of the House of Representatives, passed early in December, regarding the disposition of troops in the south In the course of his message the President

2. February 10, 1877 The Superior Times Superior, WI
Article from The Superior Times, February 10, 1877

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Article Text

NEWS IN BRIEF. THE PUBLIC DEBT. of condition THE following is statement of the the public debt, on February 1, 1877. $934,877,050 Six per cent. bonds 712,320,450 Five per cent bonds Four and half per cent. 44,600,000 bonds. $1,691,797,560 Total coin bonds 14,000,000 $ debt. Lawful money 10,912,510 Matured debt 365,050,234 Legal-tenders 33.745,000 Certificates of deposit 25,424,567 Fractional currency 53,313,700 Coin certificates. 477,533,501 Total without interest $2,194,243,511 Total debt. 26,327,007 Total interest Cash Treasury: $86,477,680 Coin.... 9,496,266 Currency Special deposits held for redemption of 33,745,000 certificates of deposit 129,718,947 Total in Treasury $2,000,851,572 2,069,662 Debt lose cash Treasury. Bondsissued to Pacific Railroad Companies, interest payable in lawful money 64,623,512 Principal outstanding 323,117 Interest accrued and not yet paid 34,018,923 Interest paid by the United States Interest repaid by transportation of 7,004,553 mails, etc. 27,014,370 Balance of interest paid by U.S. THE EAST. THE WILL of the late Arnnah Huntington, of Bonord, P. Q.,a native of Vermont, leaves $202,000 und for the benefit of the common schools of that state, THE National Tube works, of Boston, claim to have paid $200,000 duties on imported iron, and received $ 20,000 drawbacks since they commenced business. THE coroner's jury in the case of the Brooklyn theatre calamity, have rendered verdict. They say that of the 218 victims of the fire two were burned to death, and the remainder suffocated. There are numerous suggestions for the prevention of fires in the future. SILVER coin is quoted at par in New York. IT is discove that the National tube works, located at Bosto have swindled the government out of $500,000. NEW YORK warehouses, Jan. 29, contained 3.125,849 bus. of wheat, 2,544,669 bus. of corn, 956,578 bus. of oats, 382,579 bus. of rye, 708,785 bus of barley, 402,985 bus, of malt, and 11,078 bus. of peas. THE town of Ellenville, in Ulster county, New York, has met with sore affliction. The proprietor of the glass works there has failed with liabilities of $300,000, and on the 27th his glass works burned. Four tanneries in the town have also been closed owing to the deprivation of railread facilities, thus throwing large number of people out of employment. DR. MAY, father of one of the late duelists, was questioned by the grand jury in the New York, as was also James Kearney Warren, banker. At the close of the examination, the grand jury was no This is probably wiser as to the duel than before. the last attempt in the matter. THE liabilities of Jacob Hermance, of Elenville, N. Y. who has made an assignment, are put at $100,000. A large quantity of goods in his store has been replevined by New York merchants. Hermance was reputed one of the wealthiest men in Ulster county. CHARLES E. APPLEBY, of Glen Cove, L. I., has been appointed or receiver New YORK. of the The Metropolitan company Fire has assessed enough to pay all the liabilities in full, leaving sufficient to repay the stockholders at least eighty cents on the dollar, and perhaps in full. BALDWIN & KIMBALL, of the New York stock ex change, suspended. IN New York movement is on foot, having for its object an effort to bring about through the intercession of committee of disinterested arbiters between the states and their creditors, a readjust. ment of the debts of the several southern states now in default. AGAIN the Irish rifle association has challenged the American marksmen to match for the championship, to take place in Ireland the coming season. PROMINENT bankers, merchants and shippers of New York held conference lately on the subject of municipal virtue. Resolutions were adopted urging reform in the administration of the city government. THE WEST HOGE are dying in Indiana of lung fever. SEVENTEEN thousand tons of ice have been put up in Leagenworth, Kan. THOUSANDS of Texan and Kaneas cattle have died during the past few days along the line of the Atchison, Topeka and Santa Fe railroad, from the effects of the late cold weather and scarcity of water. Reports gathered from reliable sources from the wheat-growing counties in Northwestern Iowa, Southwestern Minnesota, Southern Dakota, and Northern Nebraska, show that instead, as has heretofore been the case, of ther being large stock in farmers' hands, there is not sufficient unmarketed for seeding and what will be required for home consumption till the next cropis raised. THE feeling in favor of Inglesias in Lower California is almost unanimous. G. J. McDONALD, of whisky fraud fame, received an uncon ditional pardon, Jan. 30, and was immediately released from the penitentiary of Jefferson City, Mo. THE flouring mills of Minneapolis, Minn., have all practically shut down with fifty to sixty thousand bushels of wheat in store and one million bus. of wheat on hand. There is no demand for flour, and has been found expedient to let up on grinding. MAJ. MARSTON, Indian agent of the civilized tribes in the Indian territory, states that leading men of the civilized tribes favor the project of sending the north ern Sioux to the territory. The motive for this view of the subject is believed to be one of policy as they think that if all the Indians east of the Rocky mountains were concentrated here, would be strong argument against sectionalizing the territory, making state of it and extinguishing the Indians' right to self -government. WONDERFUL archmological discoveries have been brought to the surface near Davenport, Ia. WM. KAYNEIL was hanged lately at Albany, Oregon, for the murder of S. W. Hayes. THE exhibit of the earnings of the St. Louis Kansas City and Northern railroad, show the net earnings to be $1,209,388. 69-an increase of $675,058.83 over last year. THE schooner John Bright, from Tahiti, brings news of the total loss of the British bark Berdah, When bound out of Tabiti she struck reef. Her owner, is J. C. Ross, of Quebec. A PROPOSITION to go out of business and wind up the affairs of the reantile Bank of St. Louis, will be submitted to the stock-holders of that institution. The Mercantile is one of the heaviest barl king corporations in St. Louis. A RAILROAD meeting was held on the 24th at Dubuque, Iowa, for the purpose of furthering the interests of the Stoux City, or northern branch of the Pacific railroad, and its extension to the Black Hills. A TRAIN of fifteen wagons and twenty men were captured on the way from the Black Hills, by Crazy Horse Indian butchers, and the entire company massacred. LINFORTE, E ELLOGG & Co., importers of hard ware and agricultural implements, of San Fraucis00, have suspended. Liabilities about $500,000. At a meeting of the ereditors it was ascertained that the ssets were $300,000 FOREIGN. A PARIS correspondent writes that the Russian army is in terrible state of suffering, the men dying like sheep with the murrain HERE BARTH. an eminent German explorer committed suicide in Loando, Portugal, recently, A CABLE dispatch reports that England and Aus-