State Bank - St Louis, MO

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: January 18, 1855
Location: St Louis, Missouri (38.627, -90.198)

Metadata

Model: gpt-5-mini
Short Digest: 9bb2d977

Response Measures

None

Description

Article (Glasgow Weekly Times, 1855-01-18) reports widespread financial panic in St. Louis: failure/suspension of large private bankers (Page & Bacon) and other commercial failures led depositors to seek redemption at the State Bank. The State Bank was called on to redeem notes but is not reported to have suspended or closed.

Events (1)

1. January 18, 1855 Run

Cause: Local Banks
Cause Details: Run triggered by failure/suspension of major private bankers (Page & Bacon suspended) and other commercial failures in St. Louis, producing widespread alarm and withdrawals.
Newspaper Excerpt: A run was commenced and kept up during the day ... The State Bank was also called on to redeem some of her notes
Source: newspapers

Newspaper Articles (1)

1. January 18, 1855 Glasgow Weekly Times Glasgow, MO

Article from Glasgow Weekly Times, January 18, 1855

Click image to open full size in new tab

Article Text

Financial Affairs in St. Louis. Financial affairs in St. Louis have reach. ed a crisis and tumbling has commenced.Belcher & Bros., extensive sugar menufac turers have failed for two million. Page & Bacon, the heaviest and wealthiest private bankers in the city, suspended last Saturday. Loker, Renick & Co., Bankers, did not open their doors on Saturday. Page & Bacon's suspension was announced in Saturday morning's papers, and produced, as might be expected, extensive excitement.Although no one supposes for a moment, that any person will lose anything by their suspension, yet the fact that a firm of its vast resources should be forced to suspend, created alarm. A run was commenced and kept up during the day on Lucas & Simonds, L. A. Benoist & Co., and the Boatman's Saving Institute. The State Bank was al#0 called on to redeem some of her notes, and all the private bankers were busier than usual. The excitement was so great and universal that it was useless to attempt to check it. Sunday intervening, before business began again on Monday, it is to be hoped the excitement had cooled down and confidence again restored. Should this not have been the case, a general suspension is Later information warrants the feared. belief that the excitement had subsided.