Article reports a suspension but gives no follow-up on reopening or receivership; additional sources would clarify permanence.
Events (1)
1.September 30, 1873Suspension
Cause Details
No cause given in the article beyond noting regional bank suspensions.
Newspaper Excerpt
the banking house of May, Park & Co., at Tionesta, suspended yesterday.
Source
newspapers
Newspaper Articles (1)
1.October 1, 1873The Petroleum Centre Daily RecordPetroleum Center, PA
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Article Text
We understand all the Titusville banks with one exception suspended this forenoon. Also, that the banking house of May, Park & Co., at Tionesta, suspended yesterday.We hear of no other suspensions.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.