Merchants Exchange Bank - San Francisco, CA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: February 10, 1894
Location: San Francisco, California (37.780, -122.419)

Metadata

Model: gpt-5-mini
Short Digest: 0abf6354

Response Measures

None

Description

Article (The Morning Call, 1894-02-10) states the Merchants' Exchange Bank 'is in liquidation' and has declared a dividend, indicating it was closed and under liquidation rather than a deposit run. No run or reopening is mentioned. Bank charter type not specified in the text, so bank_type set to unknown.

Events (1)

1. February 10, 1894 Suspension

Cause: Voluntary Liquidation
Cause Details: Bank reported as 'in liquidation' and declaring a dividend; indicates voluntary liquidation/closing rather than a depositor run or government closure.
Newspaper Excerpt: The Merchants' Exchange Bank, which is in liquidation, has declared a dividend of $2 per share, payable immediately.
Source: newspapers

Newspaper Articles (1)

1. February 10, 1894 The Morning Call San Francisco, CA

Article from The Morning Call, February 10, 1894

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Article Text

THE STOCK MARKET. The market was very dull yesterday, as the San Francisco Stock Exchange was closed, on account of the funeral of Martin Bacon. An attempt was made to transact business in the Pacific Board, but it fell rather flat. The Virginia Enterprise says: Explorations in the north end of the Con. Cal. & Va. below the 1650 level are being advanced in new ground, and the official letter of Superintendent Lyman last week showed an increase in the amount of ore extracted. The ore discovery of 1886 was made in the vicinity of present operations, which were suspended early in 1887 on account of gas from the combustion of the drift timbering, making it impossible to continue work at that point. The ore resources in that vicinity were not exhausted by any means when work was suspended, and the outlook for turther developments in that part of the mine are flattering should no fuflow of gas interfere with explorations. NOTES. Fred W. Hadley, secretary of the San Francisco Stock Exchange, is confined to his residence by serious illness. The Merchants' Exchange Bank, which is in liquidation. has declared a dividend of $2 per share, payable immediately. Silver was heavy at 631/2C in New York yesterday and 291/4d in London. The South Eureka Mining Company has levied an assessment of 1 cent per share, and the Natoma Vineyard Company one of $5 per share. Twelve carloads of silver bullion have recently