1194. Vallejo Savings and Commercial Bank (Vallejo, CA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
September 28, 1876
Location
Vallejo, California (38.104, -122.257)

Metadata

Model
gpt-5-mini
Short Digest
070bc1a8

Response Measures

None

Description

Multiple contemporary dispatches (Sept 28–29, 1876) report the bank suspended due to financial embarrassment of its president Gen. J. B. Frisbie from stock/speculation losses. Articles state the bank is solvent and the suspension is expected to be temporary / business to resume about a week later. No run on deposits is reported in these items.

Events (1)
1. September 28, 1876 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension caused by financial embarrassment/stock speculation losses of the bank's president, Gen. J. B. Frisbie.
Newspaper Excerpt
The Vallejo Savings and Commercial Bank suspended yesterday, caused by the financial embarrassment of the President, Gen. J. B. Frisbe[e] ... The suspension is expected to be temporary.
Source
newspapers

Newspaper Articles (9)
1. September 29, 1876 The Cincinnati Daily Star Cincinnati, OH
Article from The Cincinnati Daily Star, September 29, 1876

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Minor Ventions. By American Press Association to the STAR. BOSTON, Sept. 29.-A prominent house in this city has exported thirty thousand pieces of priut cloth to South America. COLUMBUS, O., Sept. 29.-John Kent, a bar-tender, was knocked down by W m. Hardy and 80 badly injured that he died a few minutes afterwards. LONDON, Sept. 29.-A dispatch from Nish, dated yesterday, says, since 4 o'clock of that morning there has been a continuous and heavy cannonade in the direction of Alexinatz. MILWAUKEE, Sept. 29.-Sparta, in this State, was visited by a serious fire late last night, which destroyed the Tremont House, Lee & Palmer's livery stable, Heller's store and other buildings. Loss estimated at $25,000. LOUISVILLE, Sept. 29.-J. Westman, an employe in L. Krelger's tannery on Seventh street, was caught in the machinery this morning and instantly killed. The deceased came here from Cincinnnati some time ago. NEW YORK, Sept. 29.-A - special to the Graphic from Trenton, N. J., says that a bill in chancery has been filed askiag for the appointment of a Receiver for the Central Railroad of New Jersey. The bill declares the company to be insolvent. SAN FRANCISCO, Sept. 29.-The Vallejo Savings and Commercial Bank suspended yesterday, caused by the financial embarrassment of the President, Gen. J. B. Frisbe, who has been unfortunate in stock speculations. The assets of the bank are stated to be up. wards of $550,000; indebtedness, $325,000. The suspension 18 expected to be temporary. WASHINGTON, Sept. 29.-The Treasury Department has received through the Department of State, from the United State Consul at Copenhagen, information to the effect that the ship Ellen Dyer, of New York, laden with refined petroleum, took fire and was totally destroyed near the Island of Thuno, in the Cattegate. Officers and crew took to the boat and landed on the island, from which they were taken to Aurhus by a Danish revenue cutter and then sent to Copenhagen.

2. September 29, 1876 The Daily Argus Rock Island, IL
Article from The Daily Argus, September 29, 1876

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Article Text

A Rotten Bank.-A Gam bling President.The Poor Suffer. SAN FRANCISCO. Sept. 29.-The Vallejo Savings and Commercial Bank suspended yesterday, caused by the financial embar trassment of its president, uen. J. B. Frisbee, who has been unfortunate in !stock speculations. The assets of the bank are stated to be upwards of $550.000. Indebtedness $325,000.

3. September 30, 1876 Eureka Daily Sentinel Eureka, NV
Article from Eureka Daily Sentinel, September 30, 1876

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last to leave the league. No men remained behind. Thomas Ford, Sec retary of the league since its orgaritation, remained until the close. He made no speech calling for volunteers to notify mill men. The constitution prohibits such measures, Witness denies the statement of McCullough, Getchell and McClare regarding the league. Robert Swin corroborates Cruthers and Ford. Hamlet Davis explained the objects of the league, corroborating substantially the previous witness. A. M. Walker met McCul lough, ten minutes after the league closed, in front of Hunt's saloon. Convicted of Murder. SAN FRANCISCO. Sept. 29. In the trial of Edward Bittenbender, on a charge of fratricide, the jury at late hour fast night brought in a verdiet of guilty of murder in the first degree, with the punishment of imprisonment for life. Sentence will be pas-ed Monday. Counsel for defense gave notice of a demand for a new trial. The Antioch Crooked Whisky Case. SAN FRANCISCO, Sept. 29. The case of the United States vs. Charles Jost, proprietor of the Antioch distillery, went to the jury to day, who returned a verdict for defendant. This result occasioned much comment and dissatisfaction in certain quarters, where it is freely alleged that the verdict is not in accordance with the evidence, and also that much additional evidence in favor of the Government has been suppressed and destroyed. Relief for the Savannah Sufferers. SAN FRANCISCO, Sept. 29. The following dispatch explains itself: SAN FRANCISCO, Sept. 29. To the Mayor ot Savannan, Ga.: The San Francisco Stock and Exchange Board sends your suffering and afflicted city their mite in the form of a telegraphic exchange draft for seven hundred dollars gold through the Bank of California. Laidlaw & Co., Agents, New York. WALTER TURNBULL, Secretary. Attempt to Fire n Hall in Stockton, California. STOCKTON. CAL., Sept. 28. Last night at a Republican meeting at National Hall an attempt was made to fire the building. After Mr. Fitch had begun to speak, some one piled up some papers behind the hall door down stairs and laid a lamp down among them. One of the men at the head of the stairs smelling burning paper discovered the door and woodwork on fire and succeeded in putting it out without causing a stampede. In a few minutes more the stairs, which formed the only egress, would have been in flames, and a stampede of the 1,500 people in the hall would have been attended with serious consequences. Suspension of the Vallejo Savings Bank. VALLEJO, Sept. 28. The Vallejo Savings and Commercial Bank failed to resume business this forenoon. The suspension is caused by the financial emberrassment of its President, General J. H. Frisbie. A statement is published by this evening's paper which shows the bank to be solvent and that business will be resumed about the middle of next week.

4. September 30, 1876 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, September 30, 1876

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The Vallejo, Cal, Savings and Commercial bank has suspended. Assets, $500,000; liabilities $325,000. The suspension is expected to be temporary.

5. September 30, 1876 Eureka Daily Sentinel Eureka, NV
Article from Eureka Daily Sentinel, September 30, 1876

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suspension of the Vallejo Savings Bank. VALLEJO, Sept. 28. The Vallejo Savings and Commercial Bank failed to resume business this forenoon. The suspension is caused by the financial embarrassment of its President, General J. H. Frisbie. A statement is published by this evening's paper which shows the bank to be solvent and that business will be resumed about the middle of next week.

6. September 30, 1876 The Rutland Daily Globe Rutland, VT
Article from The Rutland Daily Globe, September 30, 1876

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Bank Suspended. SAN FRANCISCO, Sept. 29. The Vallejo savings and commercial bank suspended yesterday, in consequence of the financial embarrasment of the president, Gen. J. B. Frisbie, who has been unfortunate in stock operations. Assets stated at upward of $550,000; indebtedness $325,000. It is expected that the suspension is only temporary.

7. September 30, 1876 New Orleans Republican New Orleans, LA
Article from New Orleans Republican, September 30, 1876

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drea). 33,785; to the live atock show, 5832 Total 257,286. Drowned A small boat in the Delaware capsised. Two at the five inmates were drowned. Accident to a North River Beat. NEW HAMBURG, September 29.-The Walter Butt, of the Cutskill and ran on the one steamer New York line, rocke mile north of Morlborough, at eleven o'clock last night. Her pilot and about sixty passengers were saleep, but all escaped. POUG HKEEPSIE, September 29. - The steamer Walter Butt floated to day. She is very little damaged. Am Old Newspaper Dend. WILMINGTON, N.C., September 29.-The Daily Journal. the oldest daily newspaper in the State, has suspended publication. Want of means is the cause assigned. Fall of a Building is Springfold, Massa. chusetts. SPRINGFIELD, Mass., September 29.-The floors of a three story brick building OD Kampton street fell. Six persons were buried. Four were rescued badly bruised The t wo still in are probably dead. The cause is attributed to 80,000 pounds of tobacoo stored on the third floor. The ruine are burning. Bask Suspended. San FRANCISCO, September 29.-The ValJejo Savings and Commercial Bank suepended. Cause. embarrassment of President J.B Friable. Grasshoppers in Texas. GALVESTON, September 29 - Advices from Northern and Northwestern Texas report n grasshopper invasion. In some counties they are destroying vegetation. Wheat sowing has been delayed until it is accertained whether the hoppers will re main long enough to deposit their eggs. Probabilidos. WAR DEPARTMENT, Office Chief Signal Officer, Washington, September 29, 1876-4:30 For the Gulf States, northeast to northwest winds. stationary or lower temperature, station. ary and bigher pressures, and barely cloudy or clear weather will prevail. River and Marine News. September 22-Darometer29.75. Wind very light. review-Bremen steamer thine o'clock last evening, Baire, master. to L F. Stockmever Co.; British steamship Borussia, at 6:30 s M., Hear from Liverpool, to Filas Weeks & Co.: Death ship Vohmer, at 8:15 A. M., Hausen, two duyo from Cardiff, in ballast. tos.k steamship Knickeibock+ r. at master, from New York, to A. Moulten. No opartures. The brig Australian. from Vera Crus, arrived for Gal x.-Weether cahm, cloudy arrivals. Sailed Schooner GerSeptember 29-The river fell two ranged from 580 to cloudy. Work will comonce. Arrived-United Tone's bayou. no. Weather cool and inches. Down R Lee at P.M. Arrived-IlliSR.-The river rose four 63°. DepartedVist Shinkle, for CinLouis. twenty feet Weather fair and cool. N-River six feet eight Weather cloudy and cool. 9.-Weather cloudy and I-River failing; nine canal. Weather cool and VAIRO, -Artired-Taeger, from . St. Genevieve, from St. Schenek, for New OrSt Louis, at5 P.M. three inches and falling. Arrived City of VicksM The river fell Ave feet five gool. el a Cotton. Year, 29. -The following is the statement of cotton for the week o a

8. October 4, 1876 Gold Hill Daily News Gold Hill, NV
Article from Gold Hill Daily News, October 4, 1876

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CALIFORNIA ITEMS. Hon. Thomas Fitch will speak in Novada City on the 26th and in Grass Valley on the 27th. Wheat hay is selling in Nevada City at $20 per ton and elover at $22 50 per ton. The San Francisco Alta says: The restless and indefatigable energy of California's early citizens is illustrated in the plan now in process of execution for securing complete drainage for Baldwin's Hotel. corner of Market and Powell streets. Finding that the sewer on Market street was too high for that purpose, the proprietor. E. J. Baldwin. has commenced. at his own expense, to run a private sewer from the hotel through Fifth street, to connect with the Mission street sewer. which is lower. The pipe is iron and stone, twelve inches in diameter. and will cost about $3,000. The substantial and workmanlike character of the labor is secured by the superintendency of Mr. Coffran, the contractor. The Stanislans News of September 29 says: On Thursday morning last, some time before the break of day. as Charles Kireke was on his way from his residence near Crow's Landing to the railroad station at Bantas, his mules suddenly shied to one side. upsetting the wagon over an embankment on Dry Creek, dislocating the neck bone. causing instant death. A little daughter of Mr. Kircke's was in the wagon at the time, whom he was conveying to the railroad with the view of sending her below to school, and escaped uninjured. Blas Thomas. an Austrian, 32 years of age, was killed in the Oneida mine, Amador County, last week by the fall of a piece of timber. cutting off his left arm and his vital was shaft to retimbering the piercing surface, and the the organs. timber about He is 300 supposed feet engaged from have been drawn from the descending bucket full of timber for the work by some projecting splinters, which afterwards gave way. letting the stick fall with the result named. The Solano Times says: The temporary suspension of the Vallejo Savings and Commercial Bank has brought to light several curious facts. Men who have been looked upon in this community almost in the light of paupers claim to be interested in the bank to the tune of thousands; while another class of people who are constantly putting on "poor mouths" and doing all their trading on a credit system. also claim to be large depositors in the bank.

9. October 6, 1876 Puget Sound Weekly Argus Port Townsend, WA
Article from Puget Sound Weekly Argus, October 6, 1876

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Dimensions 150 feet long, 36 feet beam, carrying capacity 300 tons. The Caledonian mine bids fair to be as good as any yet opened on Coos Bay. It is only 1300 feet from navigable water on Isthmus slough, where any vessel that crosses Coos Bay bar can come. About half this distance is graded and wooden rails laid, and the balance of the way is graded. The arrival of twenty-three boxes of fruit from Oregon at the Centennial is announced. It is now on exhibition. Says the Empire News: The construction of a telegraph line from this bay to Roseburg has been commence ed under the auspices of the Western Union Telegraph Company, and it is expected that the line will be in operation by the 1st of November. CALIFORNIA. The Vallejo Savings and Commercial Bank failed to resume business on the 28th ult. The suspension is caused by the financial embarrassment of the President, J. B. Frisbie. The society for the prevention of cruelty to children held a meeting in San Francisco on the 29th ult., and adopted a set of by-laws and a seal. Eight years ago the last rail connecting the Union and Central Pacific railroads was laid. On Sept. 5th the last spike was driven in the railroad connecting San Francisco with the lower section of the Southern Pacific. These two events are the pivots on which the railroad history of the Pacific coast turns. While railroad development in other parts of the United States have been utterly paralyzed since the panic of 1873, the Southern Pacific has built 600 miles of trunk line, with important branches, opening a vastand fertile region for settlement and consolidating the trade of the coast at San Francisco. Some 20,000 salmon spawn have been shipped from California to Honolulu. It has heretofore been supposed that the temperature of the inland streams of the Hawaiian Islands was too warm to admit of the propogation of salmon, but careful observation shows the temperature to be about like that of California.