13795. Weare Bank (Hampton Falls, NH)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
October 6, 1857
Location
Hampton Falls, New Hampshire (42.916, -70.864)

Metadata

Model
gpt-5-mini
Short Digest
e8bd2742

Response Measures

None

Description

Articles from Oct 1857 list Weare Bank (Hampton Falls, NH) among banks whose notes were thrown out and not received during the Panic of 1857. No article describes a depositor run or reopening; evidence indicates suspension/uncurrent status during the panic and no later reopening in provided texts. Classified as suspension leading to closure (no reopening mentioned).

Events (2)
1. October 6, 1857 Suspension
Cause
Macro News
Cause Details
Notes of the bank were thrown out in Boston amid the wider Panic of 1857 and regional bank suspensions, making its bills uncurrent in major clearinghouses; suspension appears driven by the wider financial crisis rather than a depositor-specific scandal or rumor.
Newspaper Excerpt
the notes of more New England banks were thrown out, viz: ... the Weare Bank at Hampton Falls, N. H.;
Source
newspapers
2. October 31, 1857 Suspension
Cause
Macro News
Cause Details
Listed among suspended/uncurrent banks whose bills were not received at Suffolk Bank/Metropolitan during the ongoing panic, confirming continued suspension/uncurrent status later in October 1857.
Newspaper Excerpt
NEW HAMPSHIRE. Exeter, at Exeter. Weare, at Hampton Falls.
Source
newspapers

Newspaper Articles (2)
1. October 6, 1857 Worcester Daily Spy Worcester, MA
Article from Worcester Daily Spy, October 6, 1857

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Article Text

Monetary Matters. Money matters seem to be working a trifle easier, although business of ail kinds is at a complete stand still. The notes maturing on the 4th inst., in Worcester, in Boston, and in New York, were generally met with promptness, and the impression pretty generally prevails among those who make finance their business, it not their study, that the crisis has been reached, and that the future will witness a gradual return of confidence, and an easier money market. At Boston yesterday. the notes of more New England banks were thrown out, viz: the Western Bank of Springfield; the Weare Bank at Hampton Falls, N. H.; Bank of North America, Seymour, Conn.; Bridgeport City Bank, Bridgeport, Conn.: Pawcatuck Bank, Pawca. tuck, Conn.; Windham County Bank, Brooklyn, Conn. Rumors prejudicial to the Thompson Bank of Thompson, Conn.. are authoritatively contradicted,. and the cashier states that the bank is in a sound condition. It has never had less specie than the amount required by law, and the amount now in its vaults is greater than at any time for six months past. No new failures in Boston were reported yesterday, and the rumors affecting the solvency of some of the business firms in Worcester, which were quite industriously circu lated on Saturday, are we learn, without any foundation. There is little business transacting iu stocks of any kind. The Boston Journal of Monday evening, says: "Bank shares are forced upon the market more freely, and are offered in small lots at a decline of from 5 to 20 per cent. from the prices of a month ago. Many of them, however, seil at more than par." Rafiroad shares seem to be the favorite luvestment, and of these[securities, the Boston and Worcester ranks the highest. The suspension of the Rhode Island banks has thrown upon our city quite a large amount of uncurrent small notes, which are passed with difficulty, and can only be got rid of for bankable funds at a discount of five per cent. This is too heavy H shave to be submitted to for any length of time, and as soon as our own banks can ease up a little in their line of discounts, 80 as to furnish our citize with currency enough for the transaction of business, Rhode Island money will be driven out of circulation, or will be taken only at its real value.

2. October 31, 1857 Vermont Phœnix Brattleboro, Bellows Falls, Ludlow, VT
Article from Vermont Phœnix, October 31, 1857

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Article Text

Uncurrent Bank Bills. Under the present temporary arrangement during the panic, the bills of the suspended Banks of New England and New York are generally current in Boston and New York.The exceptions up to this time are all given below ; and in regard to these it is supposed that the bills are good in most cases, though not bankable. Or those Banks in this State set down as uncurrent, the Royalton, Stark, Missisquoi, and St. Albans, are undoubtedly good, and holders of bills should not submit to a sacrifice on them. The bilis of the following Banks are not received at the Suffolk Bank, Boston, nor at the Metropolitan Bank, New York : MAINE. China, and Canton, at China. Ellsworth, at Ellsworth. Exchange, at Bangor. Hallowell, and Central, at Hallowell. Hancock, at Ellsworth. Maritime, at Bangor. Monsum River, and Sanford, at Sanford. NEW HAMPSHIRE. Exeter, at Exeter. Weare, at Hampton Falls. VERMONT. Danby, at Danby. Missisquoi, at Sheldon. Royalton, at Royalton. South Royalton, at South Royalton. Stark, at Bennington. St. Albans, at St. Albans. MASSACHUSETTS. Manufacturers, at Georgetown. Western, at Springfield. RHODE ISLAND. At present all notes issued by the Rhode Island Banks are rejected, although most of them are current in their own State. CONNECTICUT. Bridgeport City, at Bridgeport. Charter Oak, at Hartford. Colchester, at Colchester. Exchange, at Hartford. Hartford County, at Hartford. Hatters, at Bethel. Mercantile, at Hartford. Merchants' Exchange, at Bridgeport. North America, at Seymour. Palaquioque, at Danbury. Pawcatuck, at Pawcatuck. Quinebaug, at Norwich. Thompson, at Thompson. Uncas, at Norwich. Windham County, at Brooklyn. Woodbury, at Woodbury. Wooster, at Danbury. NEW YORK. Agricultural, in Herkimer County. Central Bank of New York, at Utica. Dairyman's, at Newport. Hamilton Exchange, at Greene. Hollister, at Buffalo. Huguenot, at New Paltz. Medina, at Medina. Niagara River, at Tonawanda. O. Lee & Co.'s Bank, Buffalo. Ontario, at Utica. Orleans, at Albion. Reciprocity, at Buffalo. Sacketts' Harbor, at Buffalo. Troy City, at Troy. Yates County, at Penn Yan.