Valley National Bank - St Louis, MO

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 1858
Charter Number: 1858
Start Date: September 1, 1873*
Location: St Louis, Missouri (38.627, -90.198)

Metadata

Model: gpt-5-mini
Short Digest: 9b02de08

Response Measures

None

Description

Article (Chicago Daily Tribune, 1873-11-06) describes Valley National Bank suspending payments during the recent panic of 1873 and later resuming operations. No discrete depositor run is described; the suspension is attributed to the general panic affecting all St. Louis banks (macro news). Dates are not explicit in the text; approximate year (1873) taken from publication.

Events (4)

1. August 9, 1871 Chartered

Source: historical_nic

2. September 1, 1873* Suspension

Cause: Macro News
Cause Details: General financial panic of 1873 led all St. Louis banks to suspend payments.
Newspaper Excerpt: Since then the country has suffered from a panic, and all the St. Louis banks were obliged to suspend.
Source: newspapers

3. October 1, 1873* Reopening

Newspaper Excerpt: Up to the date of resumption it paid over $900,000 of its deposits - still retaining to itself a perfect ability and willingness, if necessary, to pay out every dollar it owes.
Source: newspapers

4. December 4, 1885 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. November 6, 1873 Chicago Daily Tribune Chicago, IL

Article from Chicago Daily Tribune, November 6, 1873

Click image to open full size in new tab

Article Text

VALLEY NATIONAL BANK OF ST. LOUIS. The Valley National Bank of St. Louis at presont occupies & more prominent position than any other financial institution of that city, owing to the honorable way in which it has been managed since its organization, and especially during the recent panic. A large amount of its stock is held by country bankers, and from its organization it has had not only an enormous line of city deposits, but also a very extensive and profitable country business. At in meeting of the Board of Directors on the 30th of last June, a dividend of 5 per cent, free of all tax, was declared, and made payable on the 1st of the following month, and on the latter date Messrs. Josiah Hunt, H. H. Curtia, and James H. Waugh, who bad been appointed a Committee of Directors to examine the bank. handed in their report. Thoy carefully counted the cash on hand. nud compared the bills and notes discounted with the lodger's balances, and found everything correct. They were also antisflod as to the soundness of tho paper in the possession of the bank. A comparative statement of the condition of the bank, made at the same time, showed that the resources were $1,669,896.59 as compared with $1,106,984.06 in the previous year, and the liabilities 81,669,696.59 88 compared with $1,196,384.06 in the provious year. Since then the country has auffered from B panic, and all the St. Louis banks ware obliged to suspend. Up to the date of auspension, the Valley National Bank met all domands upon it, including currency orders in full : and since the suspension. only in very few instances wore customers requested to curtail their orders for currency. In the last few days preceding the suspension, it shipped in currency to the country $490,000, and up to the date of resumption it paid over 8900,000 of its deposits -still retaining to itself a perfect ability and willingnosh, if necessary, to pay out every dollar it owes. The Valley National bogs a continuance of public favor.