13320. Pratt Bank (Buffalo, NY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 8, 1853
Location
Buffalo, New York (42.886, -78.878)

Metadata

Model
gpt-5-mini
Short Digest
5a1ffb342174d0ac

Response Measures

None

Description

Mid-November 1853 newspaper dispatches report that notes of the Pratt Bank of Buffalo were being refused (Nov. 8, 1853) and a later list (Nov. 18, 1853) groups Pratt's Bank, Buffalo, N. Y. among banks temporarily suspended or broken outright. The sources do not give a clear statement of a formal receivership or reopening; contemporary coverage suggests the bank either suspended payments or failed. Because the coverage groups it with broken banks and notes were refused, I classify this as a suspension that likely led to closure, but the record is ambiguous.

Events (2)
1. November 8, 1853 Suspension
Cause Details
Contemporary reports only state notes were refused; no explicit cause given in the dispatches for Pratt Bank (distinct adverse loans mentioned refer to Patchin Bank).
Newspaper Excerpt
Notes of the Pratt Bank of Buffalo ... are all refused to-day.
Source
newspapers
2. November 18, 1853 Other
Newspaper Excerpt
Pratt's Bank, Buffalo, N. Y; ... Some of them have temporarily suspended and others broken outright: ... Pratt's Bank listed among them (Nov. 18, 1853).
Source
newspapers

Newspaper Articles (2)
1. November 9, 1853 Wheeling Daily Intelligencer Wheeling, WV
Article from Wheeling Daily Intelligencer, November 9, 1853

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Article Text

TELEGRAPHIC NEWS By the National Line. TELEGRAPHED FORTHEDAILYINTKLLIGENCER BANK SUSPENSIONS AND REFUSALS. BALTIMORE, Nov. 8.-The Patchin Bank of Buffalo suspended yesterday, in consequence, it is said, of large loans made to the Buffalo and York Railroad. Mr. Patchin, President of the Bank, is also President of the Railroad, and has assumed liabilities on its behalf. Much excitement exists. CINCINNATI, Nov. 8.-Notes of the Pratt Bank of Buffalo, Owego Bank and Tiago Bank, are all refused to-day. LATER.-CIN. Nov. 8-Evening.-A dispatch from our New York correspondent this a fternoon. does not confirm the report of the failure of any bank except the Patchin Bank of Buffalo. The reports received here to day of other failures, originated in Buffalo and Cleveland.

2. November 18, 1853 Indiana American Brookville, Indianapolis, IN
Article from Indiana American, November 18, 1853

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Article Text

Don't Take Them. Don't take bills on the following BanksSome of them have temporarily suspended and others broken outright: Patchin Bank, Buffalo: Erie & K alamazoo R. R. Bank: Farmers' Joint Stock Banking Co; Can. ada; Atalanta Bauk, Georgia; Bank of Owego, New York: Pratt's Bank, Buffalo, N. Y; Chautaque County Bank.N. Y; Lewis County Bank, N Y ;