Bank of Cape Fear - Wilmington, NC

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: June 9, 1837
Location: Wilmington, North Carolina (34.226, -77.945)

Metadata

Model: gpt-5-mini
Short Digest: 60ec1369

Response Measures

None

Description

Article (dated 1837-06-09) states the Bank of Cape Fear has also suspended Specie Payments in the context of a general suspension of banks (1837 financial panic). No mention of a depositor run, receivership, or permanent closure or later reopening in the provided text. I classify this as a suspension with likely connection to the wider panic (macro_news). Reopening is inferred as the most likely historical outcome but is not documented in the article; kept the uncertainty noted here.

Events (1)

1. June 9, 1837 Suspension

Cause: Macro News
Cause Details: Suspended specie payments in the context of a general suspension of banks during the 1837 financial crisis.
Newspaper Excerpt: Bank of Cape Fear.-This Institution has also suspended Specie Payments.
Source: newspapers

Newspaper Articles (1)

1. June 9, 1837 The Charlotte Journal Charlotte, NC

Article from The Charlotte Journal, June 9, 1837

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Article Text

Intelligence from S. E. Africa. DEATH OF MRS. WILSON It becomes our painful duty (says the Richmond Religious Telegraph) to record the death of one; whose early removal has caused the hearts of many friends to bleed afresh, and which must have been felt as a most afflicting bereavement in a little band of Missionaries, several hundred miles in a never heard the of Jane wife of Rev. people from tion. Capetown, who Mrs. had Mary the interior Wilson, of tidings Africa, among salvaAlex'r E. Wilson, and daughter of Mrs. Smithy, of this city, (Richmond) has been called to her fi. nal rest. She died at the Mission station. Moiska, on the 18th September, 1836, Mrs. Wilson left this city, to embark on the Mission to the Zoollahs, in November 1834. She reached Mosika, in company with Dr. Wilson and Rev. Messrs. Lind. ley and Venable and their wives, only about two months before she was taken from them. The were with prospects of the infant Mission bright hopes of extensive usefulness. Suddenly one of their number-one whose Christian character made her a blessing to the church, and an ornament to her sex-is taken to her reward in hea. ven, and the hopes of the feeble band, far removed from the abodes of civilized men. are blight d:Truly, God's ways are not as our ways, nor his thoughts as our thoughts." Those bereaved breth. ren in the pagan wilds of Africa, and beraved friends here, and the church, must confide in the truth, and wisdom and goodness of God. and patiently wait for Him to develope the purposes of infinite love, which are to be promoted by this af. flieting bereavement. Bank of Cape Fear.-This Institution has also suspended Specie Payments. We 5 were confident that "to this complexion." it would come as last. The fact is, that it is impossible, in the midst of a general suspension, for any one Institution to persist in the redemption of its paper in Specie. They may hold out a while, but they will eventually be forced to succumb to the exigency, after being harassed by demands which they would have avoided by prompt action.-Ral. Reg. e North Carolina Bank Notes.-Upon enquiry we learn that the reason which induced the Directors of the Bank of the State, at the time of suspending the payment of 1 ; its liabilities in Specie, to restrict the re. 8 ceipts of Deposites and payments to the e Notes of that Bank and its Branches, was , this : If the other Banks in this State b should not suspend specie payments, they could not, in justice to themselves, receive the Notes of the Bank of the State, because of its having suspended paying Specie: and, in such a state of things, therefore, the e Bank of the State ought not to increase the ( difficulties of the Banks continuing to pay t specie, by taking their Notes, and asking of them payment in what it had declined it. : self to make.-ib. i j Appointments by the Governor.-E. P. I Hall, of Wilmington, James Cassidy, of Duplin, Richard Washington, of Wayne, s and James S. Battle, of Nash, to be Direc. , tors on the part of the State in the Wil, mington and Raleigh Rail Road Company. . Andrew Joyner, of Halifax, is constituted Proxy to represent the interests of the State, o in all General Meetings of the Company.