Mississippi Valley Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: November 23, 1883
Location: St Louis, Missouri (38.627, -90.198)

Metadata

Model: gpt-5-mini
Short Digest: faa0da64

Response Measures

None

Description

The article (Nov 23, 1883) discusses the failure of the Mississippi Valley Bank in St. Louis, causing other firms to suspend. The provided bank name is Mississippi Valley Trust Company, which does not exactly match the article's Mississippi Valley Bank. It is unclear if these are the same institution; therefore bank_name_unsure is true. The article indicates a failure/closure (bank break), with no mention of a run. Classified as a suspension leading to closure (suspension_closure).

Events (1)

1. November 23, 1883 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Article states the failure/break of the Mississippi Valley Bank caused suspensions of associated firms; implies bank insolvency rather than rumor.
Newspaper Excerpt: The suspension is caused by the failure of the Mississippi Valley Bank.
Source: newspapers

Newspaper Articles (1)

1. November 24, 1883 Savannah Morning News Savannah, GA

Article from Savannah Morning News, November 24, 1883

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Article Text

MERCANTILE MATTERS. The Condition of the Defunct Mississippi Bank Growing Worse. VICKSBURG, Nov. 23.-The condition of the affairs of the Mississippi Bank is hourly getting worse. Mr. Klein says that the liabilities will probably reach $800,000. The opinion on the street is that they will reach a million. It is said that there is over $13,000 cash on hand. A large number of foreign attachments were sued out yesterday, making the creditors more gloomy. It is generally thought that the break cannot be repaired. Klein recently paid $70,000 on A. K. Bonbaur & Co.'s account, and $2,000 more becoming due caused him to close the bank. A long list of preferred creditors is published, the amount due aggregating $400,000. NEW YORK, Nov. 23.-The business failures of last week throughout the United States and Canada, as reported to R. G. Dun & Co.'s Mercantile Agency, number 247 as compared with 235 last week. Three-fifths of the failures occurred in the Western, Southern and Pacific States, leaving the Middle and Eastern States rather below the average of recent weeks. ST. LOUIS, Nov. 23.-The commission and grocery houses of John F. Halpin & Co. closed yesterday. The suspension is caused by the failure of the Mississippi Valley Bank. LIVERPOOL, Nov. 23.-Messrs. Owie, Duckwith & Co., cotton brokers, have failed. The firm are creditors of Morris Ranger, who failed a short time ago.