10800. North St Louis Savings Association (St Louis, MO)

Bank Information

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

Metadata

Model: gpt-5-mini
Short Digest: 17ffdf4d

Response Measures

Full suspension

Other: Directors discussed paying depositors one-half cash and one-half stock to reopen; clearing-house shortage of $10,000 implicated in closure.

Description

Multiple articles report small-depositor runs (mid-July 1877) tied to the suspension/closing of other local banks (Butchers' & Drovers', National Bank of Missouri). The North St. Louis Savings Association experienced withdrawals and then closed its doors (reported July 16, 1877). Later reports discuss directors planning to reopen (proposals to pay half cash/half stock), but no explicit reopening is confirmed in the provided articles, so outcome is uncertain.

Events (2)

1. July 14, 1877 Run

Cause: Local Banks
Cause Details: Runs were triggered by suspension/closing of the Butchers' and Drovers' Bank and other recent bank failures in St. Louis, creating distrust among small depositors.
Measures: Banks promptly met demands where possible; time/notice rules (30/60 days) enforced for time deposits; institutions said they could obtain funds from correspondents.
Newspaper Excerpt: A run was started this afternoon on the Boatmen's Savings Bank... Runs were also made on ... North St. Louis Savings association
Source: newspapers

2. July 16, 1877 Suspension

Cause: Local Banks
Cause Details: Closure attributed in reporting to the ongoing runs and a shortage at the clearing house (shortage of ~ $10,000) and contagion from other local bank failures that weakened confidence.
Newspaper Excerpt: The North St. Louis Savings Association closed its doors at half past ten. No statement has yet been made by its officers or directors.
Source: newspapers

Newspaper Articles (23)

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 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.

4. July 16, 1877 Public Ledger Memphis, TN

Article from Public Ledger, July 16, 1877

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ST. LOUIS. Arrival of U. S. Troops-A Distin. gatshed Party En Route for the West-The Banks. ST. Louis, July 16 -The Second United States Infantry, 440 strong, un der command of Gen. Frank Wheaton, arrived here yesterday from Atlanta, Ga., and left last night for San Francisco, whence they will be forwarded to General Howard, who is operating against the Indians. Professor Hayden, Chief of the United States Geological Society, Colonel Jas. Stevenson of Washington, and Prof. Joseph Leidy of the University of Pennsylvania, arrived here last night, and will be joined this evening by Sir Jos. Hooker, President of the Royal Academy, London, and Curator of the Royal Gardens at Kew, Dear Richmond, London; Lieutenant General Stearchy, of the Royal Bengal Engineers, also member of the Royal Geographical Society, and Professor Asa Gray, of Harvard University. After spending a day or two in examining Shaw's botanical garden in this city, the party will start for Colorado on a scientific exploration, after which they will proceed to Utah and California. Sir J Hooker and General Stearchy will make comprehensive reports of their tour to the English government, including comparisons between the botany and geology of this country and India. At this hour (10 o'clock) everything at the banks is quiet. There are a few ladies at the Boatman's Bank taking out small deposits, and the same may be said of one or two other savings institutions, but there is no excitement and no indication that anything that can be called a run will be made on any of the banks to day. The North St. Louis Savings Association closed its doors at half past ten. No statement has yet been made by its offi cera or directors.

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 The Wheeling Daily Intelligencer Wheeling, WV

Article from The Wheeling Daily Intelligencer, July 17, 1877

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ST. LOUIS. Run on the Banks Continues. North St. Louis Savings Association Closes its Doors. Sr. LOUIS, July 16.-At this hour, ten o'clock, everything at the various banks is quiet. There are a few ladies at the Boatmens Bank taking small deposits out, and the same may be said of one or two other savings institutions, but there no excitement, and no indications that anything that can be called a run will be made on any of the banks to-day, CLOSED ITS DOORS. The North St. Louis Savings Association closed its doors at 10:30 A. M. No statement has yet been made by its offi. cera or directors. BANK OF ST. LOUIS CLOSED. The Bank of St. Louis has closed its doors. Its President Jacob S. Merrill saya that the depositors will be paid in time. This bank should not be confound with the National Bank of St. Louis, which is regarded at a very staunch institution. There are rumors about Home other small Saving Associations, but at this writing they have not been verified. ANOTHER RICKETY BANK. A special to the Globe-Democrat from Louisiana, Mo; says: At: meeting of the stockholders of the Pike County Bank to. day the directors reported that the total libilities of the bank were $110,000, net value of assetsabout $50,000. Statements were made that the depositors would receive dollar for dollar if time was granted. The capital of the bank is $400,000, with 15 per cent paid in. A majority of the stockholders are solvent and there seems to be no doubt but the banks indebtedness will soon be paid. Depositors passed resolutions granting the bank six months to pay balances due them providing the directors will pay 10 per cent of the installments as fast as their assets are realized upon, and that the directors will call on the stockholders within 30 days for such amounts as will meet all liabilities not met by the present assets. A statement by A. M. Weir, cashier, shows the first speculations made by him were for the purpose of trying to make up some losses by the bank. He also confesses that the two dividends were paid out of deposits, there being no profits of which to make dividends. SMALL DEPOSITORS DRAWING THEIR MONEY. Contrary to expectation, the flurry of Saturday regarding the condition of the brnks 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 were almost wholly confined to small depositors of Savings Institutions and small shop-keepers, no merchants or business men of any pretentions taking partin it. The closing of the Northern Apsociation is attributed to the shortage of $10,000 at the clearing house this morning. The Bank of St. Louis did its clearing through the North St. Louis Savings Bonk, and when the latter closed it had $27,000 of paper belonging to the Bank of St. Louis. This forced the latter to suspend. The action of the North St. Louis Savings Bank has given rise to severe comments. The banks run on to-day were the 4th National, Provident Savings, Franklin Avenue, German and Boatmens' Savings Banks. All of the current accounts were promptly met however, and there was at no time any noticeable excitement. Everything was done in a quiet manner, and the crowds, if they can be called such, at the various banks were quitesmall. Before noon it was agreed that time certificates, which were freely paid on Saturday and early this morning, should be subject to except cases the in rule of where 30 and urgent 60 days need notice, of money could be shown. This had the effect of reducing the demands to a considerable extent and the vigor of the run was good'deal relaxed, and several other say: ings institutions were more or less besieged, but they all asserted their ability to pay all just demands. The commercial banks are pursuing the even tenor of their way, being very little if any affected.

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

Article from The Wheeling Daily Register, July 17, 1877

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THE financial durry in St. Louis continued yesterday, and was materially strengthened by the closing of the North St. L outs Savings Association. Several other banks were run. but the demands were promptly met.

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

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The Financial Flatter in st. Lonis. ST. LOUIS, July 16 - -The North St Louis Savings Association closed its doors at half past ten. No statement has vet been made by its officers or directors. At this hour ten o'clock, everything at the various banks is quiet. There are a few ladies at the Boatmen's Bank taking small deposits out, and the same may be said of one or two other saving institutions, but there is no excitement and no indications that anything that can be called a run will be made on say of the banks to-aay.

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

Article from Daily Kennebec Journal, July 17, 1877

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Registered bonds, redeemable at the pleasure of the United States, after July 1st, 1870: 50 dollars, No. 501 to No. 900, both inclusive. " " " " " 100 6,401 8,550 " " " " 200 " 5,201 6,150 " " " " 1000 19,850 " 16,501 " " " 5000 " 5,501 5,900 " " " 10000 " 4,453 5,354 MISSOURI. Bank Matters. ST. LOUIS, July 16. At this hour, 10 A. M., everything at the various banks is quiet. A few ladies are at Boatman's Bank, withdrawing small amounts, and the same may be said of one or two other savings banks institutions. No excitement and no indication of anything that can be called a run, will be made on any banks to-day. Military Matters. The second infantry, 440 strong, under General Frank Wheaton, left last evening for San Francisco. Bank Closed. The North St. Louis Savings Association closed its doors this morning.

11. 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:

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

Article from New-York Tribune, July 17, 1877

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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.

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

Article from The Dallas Daily Herald, July 18, 1877

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The Shopkeepers of the Mound City Are Pante-Stricken, and Strengthen the Excitement By a Run on the Banks. Substantial Merchants and Business Men of the City Generally Do Not Apprehend Any Serious Disaster to Follow the Present Flurried State of Affairs. [Noon Associated Press Report.) ST. LOUIS, July 17.-Contrary to expectation, the flurry of Saturday, regarding the condition of the banks, did not subside yesterday, but continued, and was materially strength. ened toward 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 small shopkeepers. No merchants or business nien of any pretensions are taking part in it. The closing of the North St. Louis Savings Association is attributed to 16 shortage of $10,000 at the clearing house. Yesterday morning the Bank of St. Louis did its clearing through the North St. Louis Savings Association, and when the latter closed it had $25,000 of paper belonging to the Bank of St. Louis. This caused the latter to suspend. The actions of the North St. Louis Savings has given rise to considerable severe comment. The banks run on the most were the Fourth National, Provident Savings, Franklin avenue and German Savings and Boatman's Savings. All current accounts were promptly met, however, and there was at no time any noticable excitement. Other savings banks were more or less besieged, but they all assertea their ability to meet all just demands. There is a strong disposition manifested on the part of small depositors in most of the banks, especially in savings, to obtain their money, but substantial merchants and business men of the city generally do 0 not apprehend any serious disasters to 1 follow the present state of affairs.

14. July 18, 1877 Evening Star Washington, DC

Article from Evening Star, July 18, 1877

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The Financial Flurry in St. Louis. ST. Louis, July 8.-Banking matters are very quiet this morning and business seems to be progressive at all the institutions in a regular way. It is reported that the Washington Savings Association at Washington, Mo., suspended yesterday, but there are no particulars. B. M. Chambers, president of the Butchers' and Drovers' Bank, says he has every reason to believe the depositors will leave the adjustmente of the bank's difficulties in his hands, and will accept the proposition made by him. He thinks an assessment of S25 per share will be required of the stock. holders to close up the business speedily, and is confident this sum or at least the greater part of it will be returned to them when the whole assets are realized upon. The directions of the North St. Louis Savings Association have discussed several propositions for the settlement of their affairs, with the view of reopening the bank and resuming business. The one most favorably entertained is to pay all depositors onehalf in cash and one-half in stock. If arrangements can be made to obtain some ready money to carry out this proposition, it is probable that the bank will resume business next week. The assets of this association are $150,000 above the liabilities. As an evidence of returning confidence it may be said that the Broadway Savings association, which felt the run of Saturday and Monday as severely as any bank, received a large number of new accounts yesterday, and its deposits were about $80,000 in excess of any previous day. A large number of depositors who withdrew their funds Saturday returned them yesterday. This can also be said of a number of other banks. Over $3,000,000 arrived here yesterday by express for banking purposes.

15. July 18, 1877 Daily Press and Dakotaian Yankton, SD

Article from Daily Press and Dakotaian, July 18, 1877

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MISCELLANEOUS FINANCIAL TROUBLES. St. Louis, July 18.-Bank matters were very quiet this morning and business seems to be progressing in all institutions in a regular way. It is reported that the Washington savings association at Washington, Mo., suspended yesterday. No particulars. The president of the Butchers and Drovers bank says he has every reason to believe the depositors will leave the adjustment of the difficulties of that bank in his hands, and will accept the proposition made by him. He thinks an assessment of twentyfive dollars share of per will be required the stockholders to close up the business speedily, and is confident this sum, or a least the greater part of it, will be returned to them when the assets are realized upon. Directors of the North St. Louis savings association have discu-sed several propositions to aid the bank in resuming business. The assets of this association are one hundred and fifty thousand dollars above the liabilities. As an evidence of returning confidence, it may be said that the Broadway savings association which felt the run of Saturday and Monday as severly as any bank, received a large number of new amounts yesterday and its deposits were about eight thousand in excess of any previous day. Over three million dollars arrived here yesterday by express for banking purposes. NOT THE GRASSHOPPER. Galveston, July 18.-Cotton worms are reported in various points. INDIAN NEWS. San Francisco, July 18.-A Wallawalla dispatch says that"the Indians killed 3 men and one girl on Cow creek. Old Salty,Spo lan, chief, believes that fifty of his warriors have gone to join Joseph. They are beyond his control. Colonel Green with his column has reached the Little Salmon river from the south. A messenger from Smookhalla says Spokane Jerry, non-treaty Spokane chief, announce their desire to remain friendly and go on to a reservation, provided one is set &part for them, and food furnished for the winter. A PERJURER. Portland Me. July 18.-Before the congressional committee, A. E. Lake swore that his testimony given recently in which he said he saw to $1,800 paid Mosier to vote for Grover was false and that he had given it under promise of being subporered to Washington and getting money for his story. A man named Higby had made this offer, and he had witness of the fact RAILROAD TROUBLES. Baltimore; July 18.-The strikers have control of the Baltimore and Ohio road, and stop all freight trains at Keyser, Grafton, Martinsburg and Wheeling. The Mathews light guard arrived at Martinsburg, and the officers are in consultation with the state authorities. The ring leaders of the strikers at Grafton who made the attack upon the non-striking firemen have been arrested. MORE STRIKES. Wheeling, W. Va., July 18.-It is report that the militia have been ordered home from Martinsburg and the United States troops called for, but no authentic information can be had. The strikers along the line of the B. & O. R. R. are growing more serions. Strikes are also expected to take place on the Central, Ohio and Chicago divisio ns. NO PROVISION FOR MILITIA. Wheeling, Va., July 18.-The governor reports that the legislature of 1875 did not provide for the organization or enrolling of militia. No organized force, except two volunteer companies in the state. In order to protect the lives of men and prevent blood shed he was compelled to ask for federal troops. The rioters took forty stand of arms from the volunteer companies. Today the governor was very reluctant to call for federal troops, but deemed it necessary to do SO to prevent destruction of lives and property. No information obtainable from railroad officials.

16. July 18, 1877 Public Ledger Memphis, TN

Article from Public Ledger, July 18, 1877

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ST. LOUIS BANKS. All Quies-Business Progressing in the Regular Way. ST. LOUIS, July 18.-Bank matters are very quiet this morning, and business seems to be progressing at all the institutions in the regular way. It is reported that the Washington Savings Association, at Washington, Mo, suspended yesterday. No particulars. B M. Chambers, president of the Butchers and Drovers Bank, says he has every reason to believe that the depositors will leave the adjustment of the diffi culties of that bank in his hands, and will accept the proposition made by him. He thinks an assessment of twenty-five dollars per share will be required on the stockholders to close up the business speedily, and is confident that this sum, or at least the greater part of it, will be returned to them when the assets. are realized upon. The directors of the North St. Louis Savings Association have discussed several propositions for the settlement of their affairs, with a view to re-opening the bank and resuming business. The OLE most favorably entertained is to pay all depositors one-half in cash and onehalf in stock, and if arrangements can be made to obtain money to carry out this proposition, it is probable that the bank will resume business next week. The assets of this association are one hundred and fifty thousand dollars above its liabilities. As an evidence of returning confidence it may be said that the Broadway Sav ings Bank Association, which felt the run of Saturday and Monday as severely as any bank, received a large number of new accounts yesterday and its deposits were about $80,000 over any previous day. A large number of depositors who withdrew their funds Saturday returned them yesterday. This can also be said of a number of the other banks. Over $3,000,000 arrived here yesterday by express for banking purposes.

17. July 18, 1877 The Rock Island Argus Rock Island, IL

Article from The Rock Island Argus, July 18, 1877

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TELEGRAPHIC [Telegraphed tothe Rock Island Argus.] More About the St. Louis Banks. ST. Louis, July 18.-The president of the Butchers' and Drovers' bank, says he has every reason to believe the depositors will leave the adjustment of the difficulties of that bank in his hands and will accept the proposition made by him, he thinks an assessment of $25 per share will be required on stockholders to close up the business speedily, and is confident that this sum or at least the greater part of it will be returned to them when the assets are realized upon. The directors of the North St. Louis Savings association have discussed several propositions for the settlement of their affairs with a view to reopening the bank and resuming business. The assets of this association are $150,000 above liabilities. As an evidence of returning confidence, it may be said that the Broadway Savings Association which felt the run of Saturday and Monday as severely as any bank, received a large number of new amounts yesterday and its deposits were about $8,000 in excess of any previous day. Over $3,000,000 arrived here yesterday by express for banking purposes. ST. LOUIS, July 18.-The bank mat ters are very quiet this morning, and business seems to be progressing in all institutions in the regular way. It is reported that the Washington Savings Association at Washington, Mo. suspended yesterday. No particulars.

18. July 19, 1877 New-York Tribune New York, NY

Article from New-York Tribune, July 19, 1877

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WESTERN BANK TROUBLES. CONFIDENCE RETURNING IN ST. LOUIS-THE NORTH ST. LOUIS SAVINGS ASSOCIATION TO RESUME. ST. LOUIS, Mo., July 18.-Banking matters opened very quiet this morning, and business seems to be progressing at all the institutions in a regular way. It is reported that the Washington Savings Association, at Washington, Mo., suspended yesterday, but there are no particulars. B. M. Chambers, President of the Butchers' and Drovers' Bank, says he has every reason to believe the depositors will leave the adjustment of the difficulties of the bank in his hands, and will accept the proposition made by him. He thinks an assessment of $25 per share will be required of the stockholders to close up the business promptly, and is confident that this sum, or at least the greater part of it, will be returned to them when the assets are realized. The Directors of the North St. Louis Savings Association have discussed several propositions for the settlement of their affairs, with a view of reopening the Bank and resuming business. The one most favorably entertained is to pay all depositors oue-half in cash and one-half in stock. It arrangements can be made to obtain some ready money to earry out this proposition it is probable that the Bank will resume business next week. The assets of this Association are $150,000 above the liabilities. As an evide of returning con Science it may be said that the Broadway Savings Association, which felt the run of Saturday and Monday as severely as any Bank, received a large number of new accounts yesterday. and its deposits were about $8,000 in excess of any prev ous day. A large number of depositors who withdrew their funds Saturday returned them yesterday. This can also be said of a number of other balks. Over $3,000,000 arrived here yesterday by express for banking purposes.

19. July 19, 1877 The Wheeling Daily Intelligencer Wheeling, WV

Article from The Wheeling Daily Intelligencer, July 19, 1877

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The Money Crisis in Missouri1 The Butchers and Drovers' Bank. Sr. LOUIS, July 18.-Bank matters are very quiet this morning and business seems to be progressing at all the institutions in the regular way. Itis reported that the Washington Savings Association, at Washington, Mo., suspended yeaterday. No particulars. Bruchambers, President of the Butchers and Drovers' Bank, says he has every reason to believe that the depositors will leave the adjustment of the difficulties of that bank in his hands and will accept the proposition made by him. He thinks an assessment of $200 per share will be required on the stockholders to close up the business speedily, and is confident that this sum or at least the greater part of it will be returned to them when the assets are realized upon. The Directors of the North St. Louis Savings Association have discussed several propositions for the settlement of their affairs with a view to reopening the bank and resuming business. The one most favorably entertained is to pay all depositors one-half in cash and one-half in stock. If arrangements can be made to obtain to some ready money to carry out this proposition, it is probable the bank will resume business next week. The as. sets of this Association are $1,500,000 above the liabilities. As an evidence of returning confidence it may be said that the Broadway Savings Association, which felt the run of Saturday and Monday as severely as any bank, received a large number of new accounts yesterday, and its deposits were about $80,000 in excess of any previous day. A large number of depositors who withdrew their funds Saturday returned them yesterday. This can also be said of a number of other banks. Over three million dollars arrived here yesterday by Express for banking purposes.

20. July 19, 1877 The Wheeling Daily Register Wheeling, WV

Article from The Wheeling Daily Register, July 19, 1877

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Financial Situation in SI. Louis, ST. LOUIS, July 18. - Bank matters are very quiet this morning, and business seems to be progressing at all the institution 8 in the regular way It is reported that the Washington Savings Association, at Washington, Mo suspended yesterday. No partienlats Mr. Bruchambere, president of the Butchers and Drovers Bank, says he has every reason to believe the depositors will leave the adjustment of the difficule ties of that bank in his hands, and will accept the proposition made by him He thinks an assessment of $200 per share will be required of the stockholders to close business speedily, and is confident that this sum, or at least the greater part of it, will be returned to them when the assets are realized upon. The directors of the North St. Louis Savings Associal tion have discussed several propositions for r settlement of their affairs, with is view to reopening the bank and resuming business The one most favorably entertained 18 to pay all depositor one. half in cash and one-half in stock, if arrangements can be made to obtain some ready money to carry out this proposition. It is probable that the bank will resume business next week. The assets of this association are 1,500,000 in excess of liabilities. A an evidence of returning confidence, it may be said that the Broadway Savings Association, which telt the run of Saturday and Monday as severely as any bank received a large number of new accounts yesterday, and its deposite were about $10,000 in excess of any previous day. A large number of depositors who withdrew their funds Saturday returned them yes terday. This can also be said of n number of other banks. Over $3,000,000 arrived here yesterday, by express, for banking purposes.

21. July 19, 1877 The New York Herald New York, NY

Article from The New York Herald, July 19, 1877

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MISSOURI BANKS. RETURNING CONFIDENCE OF BUSINESS MENDEPOSITS COMING IN AGAIN. ST. LOUIS, Mo., July 18. 1877. Banking matters are very quiet this morning, and business seems to be progressing at all the institutions in a regular way. It is reported that the Washington Savings Association, at Washington, Mo., suspended yesterday, but there are no particulars B. M. Chambers, President of the Butchers and Drovers' Bank, saya he has every reason to believe the depositors will leave the adjustment of the difficulties of the bank in DIS hands, and will accept the proposition made by him. He thinks an assessment of $25 per share will be required of the stockholders 10 close up the business speedily, and is confident this sum, or at least the greater part of it, will be returned to them when the assets are realized upon. The directors of the North St. Louis Savings Association have discussed several propositions for the settlement of their affairs with a view to reopening the bank and resuming business. The one most favorably entertained is to pay all depositors one-half in cash and one-half in stock. It arrangements can be made to obtain some ready money to carry out this proposition it is probable that the bank will resume business next week. The assets of this association are $150,000 above the liabilities. As'an evidence of returning confidence it may be said that the Broadway Savings Association which felt the run of Saturday and Monday as severely as any back, received a large number of new accounts yesterday and its deposits were about $80,000 in excess of any previous day. A large number of depositors w bo withdrew their funds Saturday returned them yesterday. This can also be said of a number of other banks. Over $3,000,000 arrived here yesterday by express for banking purposes.

22. July 20, 1877 The Emporia News Emporia, KS

Article from The Emporia News, July 20, 1877

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patches report the suspension of the Pike County Bank at Louisana, Missiouri to-day. It is said that the depositors will be paid, but there will be little left for the stockholders. CINCINNATI, July 11.-The National Bank Examiner for Indiana has closed the First National Bank of Delhi on account of a run upon the bank, owing to the failure of Dugan, Case & Spears, of Chicago, Dugan being president of the bank. The assets are said to be $50,000 in excess of liabilities. Sr. LOUIS, July 14.BB M. Chambers, president of the Butchers' and Dovers bank of this city: makes an announcement this morning of the suspension of that bank. He says only fifty per cent. of the capital stock has been paid in, leaving $130,000 to be derived from that source if found necessary to secure depositors. Sr. LOUIS, July 14.-A run was started this afternoon On the Boatman's Savings bank, but the bank kept its doors open until 6:30 o'clock this evening, and promptly met all demands. The run was not very general, the largest single amount drawn being $300. The business of the bank progressed nearly as usual, and the amonnt received by it amounts to nearly half as much as was paid out. Runs were also made on the Union Savings association, North St. Louis Savings association, Franklin avenue German Savinger Lucas bank, Lafayette bank, Citizens' 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, and were met promptly, except in some cases where time deposits were called for and the banks stood upon the usual sixty day's notice. The aggregate drawn from each bank was comparatively small, and was easily met. Very few, if any, regular merchants or business men joined in the rans Sr. LOUIS, July 16. The North St. Louis Savings Association closed. its doors at half past ten. No statement has yet been made by its officers or directors. The Bank of St. Louis has closed its doors. The President, Jacob S. Merrill, says the depositors will be paid in time. 6P. M.-It is stated on good authority that all the large banks have declared their purpose to pay no more time certificates, except.in cases where distress or an unusual need of money is clearly shown. The Globe-Democrat special from Louisana, Missouri says at a meeting of the stockholders of the Pike county bank to-day, the directors reported the total liabilities of the bank at $115,000; net value of the assets about $70,000. The statement 16 made that depositors would receive dollar for dollar if time is granted. The capital of the bank was $400,000 with filteen per cent. paid in. The flurry of Saturday, occasioned by the condition of the banks, contrary to expectation, did not subside yesterday, but continued to-day and was materially strengthened towards noon by the elosing. of the North St. Louis Saving Association and the Bank of St. Louis. As on Saturday, however, the persons engaged in the run are almost wholly confined to small depositors of savings institutions and small shop keepers. No merchants or business men of any pretensiors are taking part in it. The four per cent. Government bonds and all securities, even those which command a premium, are being sought after or investment. BOSTON, July 17.-The Commissioner of Savings Banks has enjoined the Havenbill, Mass., Savings Bank from doing further business. ST. LOUIS, July 17,--The enforcement of the 30 days notice rules has stopped theyrunned the banks. The Brewer Savings bank closed to-day.

23. July 21, 1877 The Donaldsonville Chief Donaldsonville, Gonzales, LA

Article from The Donaldsonville Chief, July 21, 1877

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St. Louis is now engaged in running on her own account a first-class, lifesize financial panic, The failure of the National Bank of Missouri started a run upon all the banking institutions in the city, and no less than six have suspended within the past fortnight. These are the, German Bank, Butchers' and Drovers' Bank, Lucas Market Savings Bank, North St. Louis Savings Association, Bank of St. Louis and Bremen Bank. The excitement is subsiding and it is believed the actual losses will not be excessive, but no reliable estimate of the damage can be made until the smoke of the smash-up clears away.