11902. State Bank (Raleigh, NC)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
October 12, 1860
Location
Raleigh, North Carolina (35.772, -78.639)

Metadata

Model
gpt-5-mini
Short Digest
3c32870b

Response Measures

None

Description

Multiple contemporaneous newspapers (Oct 12–20, 1860) report the State Bank of North Carolina has determined to suspend discounting until further results shall be developed in view of the alarming condition of the country. This describes a suspension of discounting (temporary suspension of lending/discounting operations) prompted by political/national crisis (secession tensions). No articles report a depositor run, receivership, or permanent closure; the suspension appears precautionary/temporary, so categorized as suspension_reopening.

Events (1)

1. October 12, 1860 Suspension
Cause
Macro News
Cause Details
Suspension prompted by the alarming condition of the country — political crisis/secession fears in October 1860.
Newspaper Excerpt
the State Bank of North Carolina, in view of the alarming condition of the country, have determined to suspend discounting until further results shall be developed.
Source
newspapers

Newspaper Articles (6)

Article from The Daily Dispatch, October 12, 1860

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Article Text

THE BANK OF NORTH CAROLINA-The Rs. leigh (N. C.) Register states, on "undoubted authority," that the State Bank of North Carolina, in view of the alarmia geondition of the country, have determined to suspend dis. counting until future results shall be developed. It adds: That great pecuniary distress will result from this step, cannot be doubted. The Bank of North Carolina has just gone into operation, with a large capital. The fact that it would be its interest to lend out its money freely, doubtless induced many to make contracis and engagements, on the faith of being able to fulfill them by aceommodations at that institution. All such men will, of course, come up short, and those to whom they are under obligations will, in turn, be reduced to great pecumiary inconvenience. In a word, it is hard, if not impossible, to foretell the end of this beginning.


Article from Richmond Daily Whig, October 15, 1860

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THE BANK OF NORTH CAROLINA.-The Raleigh, N. C., Register states, on "undoubted authority," that the State Bank of North Carolina, in view of the alarming condition of the country, has determined Eto suspend discounting until further results shall be developed. It adds "That great pecuniary distress will result from this step, cannot be doubted. The Band of North Carolina has just gone into operation with a large capital. The fact that it would be its interest to lend out its money freely, doubtless induced many to make contracts and engagements, on the faith of being able to fulfill them by accommodations at that institution. All such men will, of course, come up short, and those to whom they are under obligation will, in turn, be reduced to great pecuniary inconvenience. In a word, it is hard, if not impossible, to foretell the end of this beginning."


Article from Cincinnati Daily Press, October 17, 1860

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THE BANK OF NORTH CAROLINA ALARMED FOR THE UNION.-The Raleigh (N. C.) Register states, on "undoubted authority," that the State Bank of North Carolina, in view of the alarming condition of the country, have determined to suspend discounting until further results shall be developed. It adds: "That great pecuniary distress will result from this step, can not be doubted. The Bank of North Carolina has just gone into operation with a large capital. The fact that it would be to its interest to lend out its money freely, doubtless induced many to make contracts and engagements, on the faith of being able to fulfil them by accommodations at that institution. All such men will, of course, come up short, and those to whom they are under obligations. will, in turn, be reduced to great pecuniary inconvenience, In a word, it is hard, if not impossible, to foretell the i end of this beginning."


Article from Yorkville Enquirer, October 18, 1860

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# Scraps & Facts. The cotton received on the 4th of October at New Orleans, amounted to 11,993 bales. The City of Norfolk, a slave Steamer, has been captured and taken into Havana. The lightning burnt the undershirt off of a man named Allen, near Iowa City lately, leaving him unhurt. Among the Wide Awakes from Maine in the New York Republican procession, were two sons of Hanibal Hamlin. Chang and Eng, the Siamese twins, are on a visit to New York, each having a son with him. The Ohio Statesman says that fourteen thousand negroes will vote the Republican ticket in Ohio this fall, under the decision of Judge Brinkerhoff. The common council of Lynchburg has appropriated $2,500 for the erection of an armory and drill room for the use of the volunteers and fire companies of that city. The total number of bales of cotton raised in Tennessee for the year ending August 31, 1860, was 108,676, valued at $5,433,809. For the year previous it was only 86,321, valued at $4,266,050. The Raleigh Register states on "undoubted authority," that the State Bank of North Carolina, in view of the alarming condition of the country, has determined to suspend discounting until future results shall be developed. It is stated that new republican clubs have been formed in various parts of the West, under the names of "Zouave Wide Awakes," "Rail Splitters' Battalion," "John Brown Avengers," and "Harper's Ferry Raiders." The census of Charleston shows a population of 40,748. In 1850, it was 42,985. In the last decade, the slave population has decreased 9,926, and the free colored population 184. During the same period, the white population has increased 3,315. The only contest in the State for Congress, the present season, was between Gen. Ayer of Barnwell, and George P. Elliot, of Beaufort, to fill the seat made vacant by the expiration of Mr. Keitt's term of service. Mr. Ayer has been elected by an overwhelming majority. At a late ball in Paris, a lady wished to remain after her husband thought it time to go home! To effect her purpose she went into the gentlemen's dressing room, and threw his hat out of the window, and then thought it tolerably safe to accept partners for the next six dances. Out of a caravan of eighty-two persons, who crossed the Great Desert from Algiers to Timbuctoo the present summer, all but fifteen used wine and other liquors as a preventive against African diseases. Soon after reaching Timbuctoo, these all died save one; while, of the fifteen who abstained, all survived. A meeting of the citizens of Augusta, Geo., was held on Saturday evening last, the object being to ask for the interference of the President of the United States in behalf of Col. Rudler, now a prisoner in Honduras. Resolutions to that effect were adopted, and the Hon. Howell Cobb was requested to lay them before the President of the United States. The statistics show that the deaths in Philadelphia are one in forty-five annually, Boston one in forty-one, in New York one in thirty-seven, Baltimore one in thirty-five, Charleston one in thirty-six, in Richmond one in seventy, in Norfolk one in eighty-seven. Norfolk, is therefore, the healthiest of the sea board cities. A citizen of the upper part of Laurens District, Mr. Isham S. Bolt, committed suicide on Monday morning, by blowing out his brains with a shot gun. It seems that he had been much harrassed in mind with the fear of an insurrection, for some time, and had lain with his arms beside him the night before his death. Wm. H. Seward has declared that Lincoln will, if elected to the Presidential chair, immediately issue an address to the people of the United States, setting forth his views of public policy, more especially in relation to the institutions of the South In this way Lincoln hopes to quiet the fears of the South, and to prevent the secession of a single State. There have been thirty arrests in Princess Anne and Norfolk counties, Va., of negroes implicated in the recent conspiracy there. Dick Ryan, the ringleader, and another free negro, the Norfolk Day Book says, were shot and killed by the patrol who were attempting to capture them. In Halifax, N. C., there have been some servile disturbances. The slaves on two or three farms had run off. A patrol had been appointed in the county. It appears from statistics recently published, that the consumption of coffee is increasing much more rapidly than the production. Last year the total consumption of Europe and the United States alone was but 312,000 tons. The probable consumption of the present year is estimated at 337,000 tons, and the probable production at 274,000; and of next year the former at 313,000 tons, the latter at $45,000. The number of American sea going vessels which were totally lost last September, or reported during the month, amounted to 35 of all classes, viz: 8 ships, 3 barks, 2 brigs and 22 schooners. Of these 21 were wrecked, 4 foundered, 3 abandoned, 2, capsized 2 burnt, and 3 were run down. The total value of these vessels (exclusive of their cargos) may be estimated at about $570,000.- Charleston Mercury. A young woman was arrested in Hartford, Ct., on Wednesday, for stealing


Article from Keowee Courier, October 20, 1860

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# WITHDRAWN The Spanish fleet has been withdrawn from before Vera Cruz, and will await advices from Madrid before proceeding to action or bombardment. BOSTON, Oct. 12-Faneuil Hall was thronged to-night, and hundreds were unable to obtain entrance, to hear Mr. Yancey. He was cordially received, and listened to with attention, and frequently applauded. His address was substantially the same as the one delivered in New York. # YORK There were fourteen candidates for tax collector in York district, at the recent election. John J. Wylie was the successful candidate. NEW YORK, October 11-The Black Republican National Committee have issued an address to the Republican party throughout the Union, in which it is claimed that the contest is decided by the result of the recent elections in Indiana, Pennsylvania and Ohio, and all that remains to be done is to secure a Congress that will sustain Lincoln's administration. # TEXAS INDIAN DEPREDATIONS Advices from Texas state that the Indian depredations in that State continue, and that General Houston has ordered a company of sixty mounted riflemen to the frontier. # THE BANK OF NORTH CAROLINA The Raleigh Register states, on "undoubted authority," that the State Bank of North Carolina, in view of the alarming condition of the country, has determined to suspend discounting until future results shall be developed. # OBITUARY Mr. John E. Murphy, Inspector of Naval Stores, died in Charleston, on Sunday evening. # THE POPULATION OF CHARLESTON The census of Charleston shows a population of 40,748. In 1850, it was 42,985. In the last decade, the slave population has decreased 9,926, and the free colored population 184. During the same period, the white population has increased 3,315. # RELIGIOUS FANATICISM A shocking murder was committed at Kattywar, in Northern India, on the 7th of April last, during the Ramazan, or Mahometan fast. The people are rigid vegetarians in religion, and an old man was found having animal food in his house when he should have been fasting. The fanatic mob rushel into the house, dragged the victim forth, and after inflicting acts of cruelty upon him, deprived him of his life by thrusting a bar of red hot iron down his throat. # REBELLIOUS STUDENTS The students of Princeton College are in a state of insubordination because the tutors, according to an old custom of the institution, have renewed their visits to the rooms of the students. Among other rebellions demonstrations, they set fire to one of the out-buildings, worth about $200, which was destroyed. Many of them have been sent home. # SAILING OF STEAMERS The steam ship Adriatic sailed from New York on Saturday for Southampton and Havre, with 240 passengers and $675,000 in specie. The Edinburgh also sailed Sunday for Liverpool, with 215 passengers and $17,748 in specie-making the total specie shipment $682,648. NEW YORK, Oct. 12-The Prince of Wales arrived yesterday. Fully half a million of persons witnessed his entry into our city. There was the largest military display ever witnessed here. Thirty-seven thousand volunteers were in line, and thirty pieces of artillery. # FACTORIES BURNT A fire has destroyed the Southern machine shop and Danlar's gunny bag factory at Boston. The buildings occupied an entire square in South Boston. Loss estimated at $100,000; insured. Some two hundred persons are thus thrown out of employment. # SECESSION The Huntsville (Ala.) Advocate says: "We understand from personal consultation, or what we regard reliable authority, that all our merchants, no matter what their party affiliations, have returned from the North in favor of secession and resistance, if Lincoln should be elected." # DEATH OF W. P. MCBEE The Greenville papers announce the death of this prominent citizen of that place. He died on Saturday. He was twice elected to the Legislature, and filled other responsible offices. # TAX COLLECTOR Mr. James R. Hunter has been re-elected Tax-Collector for Lancaster District. W. S. Shaw in Anderson, and Elihu Watson in Laurens. # LANE AND BELL When old Joe Lane was fighting in Mexico, as well as he could with his left hand, his right arm having been disabled by a Mexican bullet, Mr. Bell was in Congress denouncing the war, and advising that we should give it up. DETROIT, Oct. 9-The Western Transportation Company's propeller Mount Vernon, with a cargo of 20,000 bushels of corn and 500 barrels of flour, exploded her boiler near Point au Pelee this morning, instantly killing the second engineer, Theo. Reese, and a freman named Jas. Conklin, and slightly injuring several others. The vessel sank immediately, and with her cargo is a total loss. # CONTRIBUTION Senator J. Duncan Allen, of Barnwell, has given $100 towards the expenses of the new Catholic Chapel in Edgefield, S. C., which will be dedicated on the 21st inst. # THE SHELBYVILLE RAILROAD The city of Louisville, on Saturday, voted to loan her credit to the Shelby branch of the Louisville and Nashville Railroad, to the extent of $120,000, which secures the appropriation of the individual subscription to the amount of $150,000. The road will now be speedily constructed. NEW YORK, Oct. 8-The steamship Northern Light, Captain Tinklepaagh, from Aspinwall, has arrived. She brings no passengers nor mails, the J L Stephens having failed to connect, on account of a heavy storm on the Pacific. The coast of Panama has been invested by negro insurrectionists, but they have been


Article from The New York Herald, October 20, 1860

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Foster, in 27 counties, is 13,156. The majority for Cochran, republican, in the same conn ties in 1859 was 12,568. COME IN-The Schenectady News, a Bery democratic journal of the Breckinridge school, has finally holsted the Union ticket. SOUTHERN BANKS PREPARING FOR THE POLITICAL CRISIS The Raleigh (N. C.) Register states, on "undoubted authority," that the State Bank of North Carolina, in view of the alarming condition of the country, has determined to suspend discounting until future results shall be developed. It adds:That great pecuniary distress will result from this step cannot be doubted. The Bank of North Carolina has just gone into operation, with a large capital. The fact that it would be its interest to lend out its money freely, doubtless induced many to make contracts and engagements, on the faith of being able to fulfil them by accom modations at that institution. All such men will, of course, come up short, and those to whom they are under obl gations will in turn be reduced to great pecuniary inconvenience. To a word, it is hard, If not impossible, to foretell the end of this beginning. THE COUNSEL OF COOK, THE INSURRECTIONIST.-Among the democratic members of Congress just elected in Indiana is the Hon. D. W. Voorhees, whose great speech in bebalf of Cook, one of the followers of Ojd John Brown, condemned and executed at Charlestown, Va., gave him . national reputation as one of the most brilliant orators of the present day. He MADE A MISTAKE - The Staunton (Va) Spectator says that whilst Hon. William Smith (Extra Billy) was making his speech at Harrisonburg be alluded In a contemptuons manner to the Union party, when one of its friends, in a loud, clear voice, huzzaed for Bell and Everett. Mr. s, thinking there could be but few, and that the response would be very weak, exclaimed, "That is right; burrah for Bell." In response to this invitation to the friends of Bell to speak out, there went up such loud and numerous shouts for Bell for several minutes that all were surprised, and Mr. Smith perfectly astounded. A DUEL IN MISSOURI BETWEEN Two POLITICIANS.-A duel was fought near Nodaway, Mo., on the 12th inst, between Isaiah J. Porter, Esq., President of the Democratic Club and Chairman of the Executive Committee of St. Joseph, and Colonel Harlen, of Boonville Mr. Porter was addressing n political meeting at Nodaway, when Colonel Harlen called him a liar. Both parties were seriously though not faially wounded. MR. YANCEY AND THE BOSTON WORKINGMEN - The following memorial is in circulation in Boston for signatures:We, the undersigned, workingmen of Boston and its vicisity, believing in free speech and free discussion, and viewing you to be one of the ablest exponents of the advaniages of negro slavery, hereby invite you to address them in Faneuil Hall, on Saturday evening next, or upon any other evening you may appoint, upon the subject of the effect slavery has had upon the white laborer mt the South, and прод the effect negro slavery would probably have upon the free white workingmen of the Northern States, and of the Territories, should 11 be introduced therein.